DFNMvsBSMYETF Comparison
VS
Dimensional National Municipal Bond ETF (DFNM) and Invesco BulletShares 2034 Municipal Bond ETF (BSMY) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. Both DFNM and BSMY have the same Total Expense Ratio (TER) of 0.18%. DFNM is down -1% year-to-date (YTD) with +$360M in YTD flows. BSMY performs worse with -2.78% YTD performance, and +$70M in YTD flows. Run a side-by-side ETF comparison of DFNM and BSMY 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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DFNM vs BSMY performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | DFNM BSMY | +0.02%-0.01% | -2.31%-3.82% | -1.00%-2.78% | -0.15%-2.01% | +9.22%n/a | n/an/a |
| Flows | DFNM BSMY | -$35M+$16M | +$41M+$23M | +$360M+$70M | +$562M+$89M | +$1.29B- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | DFNM BSMY | +3.59%+5.92% | +2.20%+3.78% | +2.31%n/a | n/an/a |
| Max drawdown | DFNM BSMY | -4.26%-6.71% | -4.56%-7.85% | -4.56%n/a | n/an/a |
| Max drawdown duration | DFNM BSMY | 92d92d | 101d229d | 101dn/a | n/an/a |
Trading data
DFNM | BSMY | |
Last sale 10/16/2026 at 1:30 PM | $46.71 | $23.27 |
| Previous close 10/15/2026 | $46.71 | $23.26 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 17, 2026
1-year trailing difference
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DFNM
is actively managed and doesn’t replicate an indexDFNM | BSMY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
DFNM | BSMY | |
|---|---|---|
| Last price | $46.71 | $23.27 |
| 1D performance | +0.00% | +0.06% |
| AuM | $2.22 B | $155.44 M |
| E/R | 0.18% | 0.18% |
Characteristics
DFNM | BSMY | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Dimensional | Invesco |
| Benchmark | - | ICE BulletShares Municipal Bond 2034 Index |
| N° of holdings | 259 | 380 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 15, 2021 | September 11, 2024 |
| ESG | No | No |
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Exposure
Countries
DFNM
USA
30.25%
Other
69.75%
BSMY
USA
29.17%
Other
70.83%
Sectors
DFNM
Municipal
30.25%
Other
69.75%
BSMY
Municipal
29.17%
Other
70.83%
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Diversification
DFNM
Total weight of top 15 holdings out of 15
8.59%
BSMY
Total weight of top 15 holdings out of 15
5.69%
Top 15 holdings
Data as of August 31, 2026
DFNM
County of Hudson, 4% 24feb2027, USD (2026)
0.80%
Revere, 4% 29jul2027, USD
0.72%
US692160VQ47
0.67%
City of Somerville (MA), 4% 28may2027, USD
0.67%
Hoboken, 4% 8mar2027, USD (2026)
0.67%
US562333SJ48
0.59%
US594712ZC81
0.58%
US609561SR73
0.51%
US650028F992
0.49%
Maryland, 5% 1jun2037, USD (2025)
0.49%
New Mexico, 5% 1mar2027, USD (2026)
0.49%
US686507NU45
0.48%
US30382AMM17
0.48%
US59333FR362
0.46%
Charleston School District, 5% 6may2027, USD (2026A)
0.46%
BSMY
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.61%
Triborough Bridge and Tunnel Authority, 5.25% 15may2064, USD (2024A-1)
0.52%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.50%
New York Municipal Water Finance Authority, 5.25% 15jun2053, USD (2025)
0.44%
Massachusetts, 5% 1jan2054, USD (2024)
0.44%
Triborough Bridge and Tunnel Authority, 3% 15nov2034, USD
0.40%
University of Missouri System Facilities, 5% 1nov2034, USD (2024)
0.40%
South Carolina Public Service Authority, 5.25% 1dec2054, USD (2024)
0.35%
US64972JGW27
0.31%
US89602HHH30
0.30%
North Carolina Turnpike Authority, 5% 1jan2058, USD (2024A)
0.29%
US59260XCG16
0.28%
US65000B8S01
0.28%
US97705MJ897
0.28%
US57584Y7K96
0.27%
Frequently asked questions about DFNM and BSMY
How have the DFNM and BSMY ETFs performed in 2026?
As of October 15, 2026, DFNM is down -1% year-to-date (YTD), while BSMY has lost -2.78%. That puts DFNM better performer ahead so far this year.
Which ETF is attracting more investor money: DFNM or BSMY?
Year-to-date, the DFNM ETF saw +$360M in flows, compared to +$70M for BSMY.
Which ETF is more volatile: DFNM or BSMY?
Over the past year, DFNM had a volatility of 2.2%, while BSMY experienced 3.78%.
Which ETF is bigger: DFNM or BSMY?
As of October 15, 2026, DFNM holds $2.22 B in assets under management (AUM), while BSMY manages $155.44 M.
What sectors do the DFNM and BSMY ETFs invest in?
DFNM leans toward sectors like Municipal. Meanwhile, BSMY focuses on Municipal.
What are the top holdings of the DFNM ETF and BSMY ETF?
DFNM top holdings include County of Hudson, 4% 24feb2027, USD (2026), Revere, 4% 29jul2027, USD and US692160VQ47. BSMY holds in its top three: New York Dormitory Authority, 5.5% 1jul2054, USD (2024A), Triborough Bridge and Tunnel Authority, 5.25% 15may2064, USD (2024A-1) and Los Angeles Unified School District, 5% 1jul2034, USD (2024A).
Which ETF is more diversified: DFNM or BSMY?
DFNM holds 1198 securities with 8.59% of its assets in the top 15. BSMY has 1972 securities and a top 15 weight of 5.69%.
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