DFCAvsSTAXETF Comparison
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Dimensional California Municipal Bond ETF (DFCA) and Nomura Tax-Free USA Short Term ETF (STAX) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. DFCA is less expensive with a Total Expense Ratio (TER) of 0.19%, versus 0.29% for STAX. DFCA is down -0.18% year-to-date (YTD) with +$133M in YTD flows. STAX performs better with 1.23% YTD performance, and +$6M in YTD flows. Run a side-by-side ETF comparison of DFCA and STAX below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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DFCA vs STAX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | DFCA STAX | -0.52%+0.04% | -1.13%+0.11% | -0.18%+1.23% | +2.54%+2.08% | +7.50%n/a | n/an/a |
| Flows | DFCA STAX | +$19M-$2M | +$47M+$5M | +$133M+$6M | +$239M+$6M | +$560M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | DFCA STAX | +1.72%+1.06% | +1.58%+0.99% | +2.28%n/a | n/an/a |
| Max drawdown | DFCA STAX | -1.64%-0.63% | -1.73%-1.05% | -3.58%n/a | n/an/a |
| Max drawdown duration | DFCA STAX | 57d57d | 184d106d | 270dn/a | n/an/a |
Trading data
DFCA | STAX | |
Last sale 9/2/2026 at 1:30 PM | $49.13 | $25.17 |
| Previous close 09/02/2026 | $49.12 | $25.17 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
DFCA | STAX | |
|---|---|---|
| Last price | $49.13 | $25.17 |
| 1D performance | +0.03% | +0.00% |
| AuM | $720.67 M | $11.34 M |
| E/R | 0.19% | 0.29% |
Characteristics
DFCA | STAX | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Dimensional | Nomura |
| Benchmark | - | - |
| N° of holdings | 133 | 36 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 27, 2023 | November 28, 2023 |
| ESG | No | No |
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Exposure
Countries
DFCA
USA
36.1%
Other
63.9%
STAX
USA
37.04%
Other
62.96%
Sectors
DFCA
Municipal
36.1%
Other
63.9%
STAX
Municipal
37.04%
Other
62.96%
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Diversification
DFCA
Total weight of top 15 holdings out of 15
13.43%
STAX
Total weight of top 15 holdings out of 15
26.01%
Top 15 holdings
Data as of July 31, 2026
DFCA
California, 5% 1apr2035, USD
1.53%
US769110DA28
1.32%
US797661G257
1.04%
US072024YF30
0.95%
US544647HM52
0.91%
US797661D510
0.90%
California, 5% 1oct2042, USD
0.88%
California, 5% 1oct2029, USD
0.79%
US013079R2J7
0.77%
US797661F424
0.76%
California, 4% 1nov2036, USD
0.75%
US544647JH40
0.73%
US013079QGW5
0.70%
US013079Q2R1
0.70%
University of California Medical Center, FRN 15may2045, USD
0.70%
STAX
Chicago, 5% 1nov2026, USD (2004)
2.43%
US68608JXF38
2.27%
US650116FF84
2.05%
US4521525L18
1.98%
US85236DAK46
1.82%
US882724JZ14
1.66%
US48504NCT46
1.60%
New Jersey, 5% 1jun2029, USD
1.60%
Tobacco Settlement Financing Corp. (NJ), 5% 1jun2029, USD (2018A)
1.56%
New York Transportation Development Corp., 5% 1jan2028, USD (2018)
1.55%
US472682YZ07
1.53%
US54877EAC03
1.50%
US73358XNJ71
1.49%
US60374VEX73
1.49%
New York Metropolitan Transportation Authority, 5% 15nov2030, USD (2017D)
1.48%
Frequently asked questions about DFCA and STAX
How have the DFCA and STAX ETFs performed in 2026?
As of September 1, 2026, DFCA is down -0.18% year-to-date (YTD), while STAX has returned 1.23%. That puts STAX better performer ahead so far this year.
Which ETF is attracting more investor money: DFCA or STAX?
Year-to-date, the DFCA ETF saw +$133M in flows, compared to +$6M for STAX.
Which ETF is more volatile: DFCA or STAX?
Over the past year, DFCA had a volatility of 1.58%, while STAX experienced 0.99%.
Which ETF is bigger: DFCA or STAX?
As of September 1, 2026, DFCA holds $720.67 M in assets under management (AUM), while STAX manages $11.34 M.
What sectors do the DFCA and STAX ETFs invest in?
DFCA leans toward sectors like Municipal. Meanwhile, STAX focuses on Municipal.
What are the top holdings of the DFCA ETF and STAX ETF?
DFCA top holdings include California, 5% 1apr2035, USD, US769110DA28 and US797661G257. STAX holds in its top three: Chicago, 5% 1nov2026, USD (2004), US68608JXF38 and US650116FF84.
Which ETF is more diversified: DFCA or STAX?
DFCA holds 505 securities with 13.43% of its assets in the top 15. STAX has 92 securities and a top 15 weight of 26.01%.
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