DFCAvsTAXFETF Comparison
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Dimensional California Municipal Bond ETF (DFCA) and American Century Diversified Municipal Bond ETF (TAXF) 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 0.25% for TAXF. DFCA is down -1.42% year-to-date (YTD) with -$53M in YTD flows. TAXF performs worse with -1.87% YTD performance, and +$186M in YTD flows. Run a side-by-side ETF comparison of DFCA and TAXF 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 TAXF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | DFCA TAXF | -0.25%-0.40% | -2.57%-3.76% | -1.42%-1.87% | -0.56%-1.18% | +7.63%+11.92% | n/a+1.98% |
| Flows | DFCA TAXF | -$180M+$40M | -$157M+$63M | -$53M+$186M | +$6M+$219M | +$368M+$386M | -+$580M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | DFCA TAXF | +3.74%+5.54% | +2.24%+3.44% | +2.42%+3.93% | n/a+3.88% |
| Max drawdown | DFCA TAXF | -4.53%-6.26% | -4.89%-6.91% | -4.89%-6.91% | n/a-13.26% |
| Max drawdown duration | DFCA TAXF | 92d92d | 228d103d | 228d103d | n/a1001d |
Trading data
DFCA | TAXF | |
Last sale 10/19/2026 at 5:23 PM | $48.33 | $47.84 |
| Previous close 10/16/2026 | $48.39 | $47.83 |
| Consolidated volume 10/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/19/2026 at 5:23 PM
Live
Closed
DFCA | TAXF | |
|---|---|---|
| Last price | $48.33 | $47.84 |
| 1D performance | -0.13% | +0.02% |
| AuM | $522.39 M | $705.56 M |
| E/R | 0.19% | 0.25% |
Characteristics
DFCA | TAXF | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Dimensional | American Century Investments |
| Benchmark | - | - |
| N° of holdings | 130 | 244 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 27, 2023 | September 10, 2018 |
| ESG | No | No |
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Exposure
Countries
DFCA
USA
36.89%
Other
63.11%
TAXF
USA
35.49%
Other
64.51%
Sectors
DFCA
Municipal
36.89%
Other
63.11%
TAXF
Municipal
35.49%
Other
64.51%
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Diversification
DFCA
Total weight of top 15 holdings out of 15
16.19%
TAXF
Total weight of top 15 holdings out of 15
8.47%
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%
TAXF
US74442PN840
0.88%
Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3)
0.88%
Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A)
0.73%
US60637GRY79
0.65%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.58%
US646080ZU81
0.57%
US452252RA98
0.54%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
0.54%
Southeast Alabama Gas Supply District, FRN 1aug2054, USD (A)
0.54%
US681725PH47
0.46%
Orlando Utilities Commission, 5% 1oct2048, USD (2023A)
0.45%
US74439YBD22
0.44%
US292723AY90
0.41%
US880157EC24
0.40%
Patriots Energy Group Financing Agency, 5.25% 1oct2054, USD (2023A-1)
0.40%
Frequently asked questions about DFCA and TAXF
How have the DFCA and TAXF ETFs performed in 2026?
As of October 15, 2026, DFCA is down -1.42% year-to-date (YTD), while TAXF has lost -1.87%. That puts DFCA better performer ahead so far this year.
Which ETF is attracting more investor money: DFCA or TAXF?
Year-to-date, the DFCA ETF saw -$53M in flows, compared to +$186M for TAXF.
Which ETF is more volatile: DFCA or TAXF?
Over the past year, DFCA had a volatility of 2.24%, while TAXF experienced 3.44%.
Which ETF is bigger: DFCA or TAXF?
As of October 15, 2026, DFCA holds $522.39 M in assets under management (AUM), while TAXF manages $705.56 M.
What sectors do the DFCA and TAXF ETFs invest in?
DFCA leans toward sectors like Municipal. Meanwhile, TAXF focuses on Municipal.
What are the top holdings of the DFCA ETF and TAXF ETF?
DFCA top holdings include US072024YF30, US544657JD25 and California, 5% 1apr2035, USD. TAXF holds in its top three: US74442PN840, Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3) and Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A).
Which ETF is more diversified: DFCA or TAXF?
DFCA holds 490 securities with 16.19% of its assets in the top 15. TAXF has 792 securities and a top 15 weight of 8.47%.
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