DFCAvsTAXEETF Comparison
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Dimensional California Municipal Bond ETF (DFCA) and T. Rowe Price Intermediate Municipal Income ETF (TAXE) 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 0.24% for TAXE. DFCA is down -1.42% year-to-date (YTD) with -$53M in YTD flows. TAXE performs better with -0.97% YTD performance, and +$256M in YTD flows. Run a side-by-side ETF comparison of DFCA and TAXE 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 TAXE performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | DFCA TAXE | -0.17%+0.07% | -2.41%-2.52% | -1.42%-0.97% | -0.68%-0.14% | +7.64%n/a | n/an/a |
| Flows | DFCA TAXE | -$180M+$154M | -$157M+$188M | -$53M+$256M | +$6M+$276M | +$368M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | DFCA TAXE | +3.74%+4.49% | +2.24%+2.78% | +2.42%n/a | n/an/a |
| Max drawdown | DFCA TAXE | -4.38%-4.92% | -4.89%-5.51% | -4.89%n/a | n/an/a |
| Max drawdown duration | DFCA TAXE | 92d92d | 229d102d | 229dn/a | n/an/a |
Trading data
DFCA | TAXE | |
Last sale 10/20/2026 at 1:30 PM | $48.27 | $49.24 |
| Previous close 10/19/2026 | $48.38 | $49.22 |
| Consolidated volume 10/19/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/20/2026 at 1:30 PM
Live
Closed
DFCA | TAXE | |
|---|---|---|
| Last price | $48.27 | $49.24 |
| 1D performance | -0.23% | +0.04% |
| AuM | $522.41 M | $359.97 M |
| E/R | 0.19% | 0.24% |
Characteristics
DFCA | TAXE | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Dimensional | T. Rowe Price |
| Benchmark | - | - |
| N° of holdings | 130 | 169 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 27, 2023 | July 10, 2024 |
| ESG | No | No |
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Exposure
Countries
DFCA
USA
36.89%
Other
63.11%
TAXE
USA
36.28%
Other
63.72%
Sectors
DFCA
Municipal
36.89%
Other
63.11%
TAXE
Municipal
36.28%
Other
63.72%
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Diversification
DFCA
Total weight of top 15 holdings out of 15
16.19%
TAXE
Total weight of top 15 holdings out of 15
11.04%
Top 15 holdings
Data as of August 31, 2026
DFCA
US072024YF30
2.25%
US544657JD25
1.84%
California, 5% 1apr2035, USD
1.53%
US769110DA28
1.32%
US797661G257
1.04%
City of Los Angeles, 5% 24jun2027, USD (2026)
0.96%
US544647HM52
0.91%
US797661D510
0.90%
California, 5% 1oct2042, USD
0.88%
California, 5% 1oct2029, USD
0.79%
US013079R2J7
0.77%
California, 5% 1mar2038, USD
0.77%
US797661F424
0.76%
California, 4% 1nov2036, USD
0.74%
US13077DYZ94
0.73%
TAXE
New York Municipal Water Finance Authority, FRN 15jun2053, USD (2023)
1.63%
Puerto Rico, 5.75% 1jul2031, USD
0.87%
Michigan Finance Authority, 5% 15aug2055, USD (2025B-1)
0.85%
US249182LT15
0.75%
Denver, 5% 1dec2029, USD (2018A)
0.74%
US899530AY53
0.74%
US736754TT94
0.71%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.68%
Colorado, 6% 15dec2041, USD (2022)
0.67%
US040507QB45
0.59%
Puerto Rico Sales Tax Financing Corp., 4.55% 1jul2040, USD
0.58%
South Carolina Jobs-Economic Development Authority, 5% 1may2043, USD (2018A)
0.56%
US92812XXT44
0.56%
US64972JNL88
0.56%
Black Belt Energy Gas District, 5% 1nov2036, USD (2026)
0.55%
Frequently asked questions about DFCA and TAXE
How have the DFCA and TAXE ETFs performed in 2026?
As of October 16, 2026, DFCA is down -1.42% year-to-date (YTD), while TAXE has lost -0.97%. That puts TAXE better performer ahead so far this year.
Which ETF is attracting more investor money: DFCA or TAXE?
Year-to-date, the DFCA ETF saw -$53M in flows, compared to +$256M for TAXE.
Which ETF is more volatile: DFCA or TAXE?
Over the past year, DFCA had a volatility of 2.24%, while TAXE experienced 2.78%.
Which ETF is bigger: DFCA or TAXE?
As of October 16, 2026, DFCA holds $522.41 M in assets under management (AUM), while TAXE manages $359.97 M.
What sectors do the DFCA and TAXE ETFs invest in?
DFCA leans toward sectors like Municipal. Meanwhile, TAXE focuses on Municipal.
What are the top holdings of the DFCA ETF and TAXE ETF?
DFCA top holdings include US072024YF30, US544657JD25 and California, 5% 1apr2035, USD. TAXE holds in its top three: New York Municipal Water Finance Authority, FRN 15jun2053, USD (2023), Puerto Rico, 5.75% 1jul2031, USD and Michigan Finance Authority, 5% 15aug2055, USD (2025B-1).
Which ETF is more diversified: DFCA or TAXE?
DFCA holds 490 securities with 16.19% of its assets in the top 15. TAXE has 612 securities and a top 15 weight of 11.04%.
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