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 -0.18% year-to-date (YTD) with +$133M in YTD flows. TAXE performs better with 0.25% YTD performance, and +$97M 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 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | DFCA TAXE | -0.52%-0.43% | -1.13%-1.29% | -0.18%+0.25% | +2.54%+3.92% | +7.50%n/a | n/an/a |
| Flows | DFCA TAXE | +$19M+$14M | +$47M+$43M | +$133M+$97M | +$239M+$118M | +$560M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | DFCA TAXE | +1.72%+2.25% | +1.58%+2.09% | +2.28%n/a | n/an/a |
| Max drawdown | DFCA TAXE | -1.64%-1.94% | -1.73%-2.39% | -3.58%n/a | n/an/a |
| Max drawdown duration | DFCA TAXE | 57d57d | 184d122d | 270dn/a | n/an/a |
Trading data
DFCA | TAXE | |
Last sale 9/3/2026 at 6:43 PM | $49.10 | $50.00 |
| Previous close 09/02/2026 | $49.13 | $49.94 |
| 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 9/3/2026 at 6:43 PM
Live
Closed
DFCA | TAXE | |
|---|---|---|
| Last price | $49.10 | $50.00 |
| 1D performance | -0.06% | +0.12% |
| AuM | $720.67 M | $202.12 M |
| E/R | 0.19% | 0.24% |
Characteristics
DFCA | TAXE | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Dimensional | T. Rowe Price |
| Benchmark | - | - |
| N° of holdings | 133 | 163 |
| 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
36.1%
Other
63.9%
TAXE
USA
35.75%
Other
64.25%
Sectors
DFCA
Municipal
36.1%
Other
63.9%
TAXE
Municipal
35.75%
Other
64.25%
Diversification
DFCA
Total weight of top 15 holdings out of 15
13.43%
TAXE
Total weight of top 15 holdings out of 15
12.17%
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%
TAXE
US45204FME24
1.90%
US46246K5E87
0.96%
Michigan Finance Authority, 5% 15aug2055, USD (2025B-1)
0.91%
Puerto Rico, 5.75% 1jul2031, USD
0.85%
US45506EQS53
0.83%
US249182LT15
0.81%
Denver, 5% 1dec2029, USD (2018A)
0.79%
Colorado, 6% 15dec2041, USD (2022)
0.72%
US899530AY53
0.72%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.70%
Puerto Rico Sales Tax Financing Corp., 4.55% 1jul2040, USD
0.62%
US64972JNL88
0.61%
US92812XXT44
0.60%
Black Belt Energy Gas District, 5% 1nov2036, USD (2026)
0.59%
Black Belt Energy Gas District, 4% 1jun2051, USD (2021A)
0.58%
Frequently asked questions about DFCA and TAXE
How have the DFCA and TAXE ETFs performed in 2026?
As of September 1, 2026, DFCA is down -0.18% year-to-date (YTD), while TAXE has returned 0.25%. 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 +$133M in flows, compared to +$97M for TAXE.
Which ETF is more volatile: DFCA or TAXE?
Over the past year, DFCA had a volatility of 1.58%, while TAXE experienced 2.09%.
Which ETF is bigger: DFCA or TAXE?
As of September 1, 2026, DFCA holds $720.67 M in assets under management (AUM), while TAXE manages $202.12 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 California, 5% 1apr2035, USD, US769110DA28 and US797661G257. TAXE holds in its top three: US45204FME24, US46246K5E87 and Michigan Finance Authority, 5% 15aug2055, USD (2025B-1).
Which ETF is more diversified: DFCA or TAXE?
DFCA holds 505 securities with 13.43% of its assets in the top 15. TAXE has 579 securities and a top 15 weight of 12.17%.
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