DFNMvsFECMETF Comparison
VS
Dimensional National Municipal Bond ETF (DFNM) and First Eagle Core Municipal ETF (FECM) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. DFNM is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.25% for FECM. Run a side-by-side ETF comparison of DFNM and FECM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
DFNM vs FECM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | DFNM FECM | -0.48%-0.43% | -1.14%n/a | -0.02%n/a | +2.73%n/a | +8.95%n/a | n/an/a |
| Flows | DFNM FECM | +$45M- | +$173M- | +$379M- | +$645M- | +$1.31B- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | DFNM FECM | +1.74%n/a | +1.62%n/a | +2.17%n/a | n/an/a |
| Max drawdown | DFNM FECM | -1.65%n/a | -1.79%n/a | -2.92%n/a | n/an/a |
| Max drawdown duration | DFNM FECM | 57dn/a | 124dn/a | 183dn/a | n/an/a |
Trading data
DFNM | FECM | |
Last sale 9/3/2026 at 5:08 PM | $47.32 | $24.59 |
| Previous close 09/02/2026 | $47.31 | $24.52 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Advertisement
Main metrics
Last update 9/3/2026 at 5:08 PM
Live
Closed
DFNM | FECM | |
|---|---|---|
| Last price | $47.32 | $24.59 |
| 1D performance | +0.01% | +0.28% |
| AuM | $2.27 B | $15.31 M |
| E/R | 0.18% | 0.25% |
Characteristics
DFNM | FECM | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Dimensional | First Eagle Investments |
| Benchmark | - | - |
| N° of holdings | 271 | 48 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 15, 2021 | July 1, 2026 |
| ESG | No | No |
Advertisement
Exposure
Countries
DFNM
USA
32.24%
Other
67.76%
FECM
USA
33.69%
Other
66.31%
Sectors
DFNM
Municipal
32.24%
Other
67.76%
FECM
Municipal
33.69%
Other
66.31%
Advertisement
Diversification
DFNM
Total weight of top 15 holdings out of 15
8.43%
FECM
Total weight of top 15 holdings out of 15
31.69%
Top 15 holdings
Data as of July 31, 2026
DFNM
County of Hudson, 4% 24feb2027, USD (2026)
0.82%
Revere, 4% 29jul2027, USD
0.73%
City of Somerville (MA), 4% 28may2027, USD
0.68%
Hoboken, 4% 8mar2027, USD (2026)
0.68%
US562333SJ48
0.60%
US594712ZC81
0.60%
Maryland, 5% 1jun2037, USD (2025)
0.50%
US650028F992
0.50%
New Mexico, 5% 1mar2027, USD (2026)
0.50%
US686507NU45
0.49%
US30382AMM17
0.49%
US59333FR362
0.47%
Charleston School District, 5% 6may2027, USD (2026A)
0.47%
Danbury, 4% 22feb2027, USD
0.45%
US190819JY92
0.45%
FECM
US4812C06707
6.49%
US932423XQ48
2.40%
US759831CZ11
2.16%
New York Dormitory Authority, 5% 15feb2037, USD (2016A)
1.99%
US20775DX645
1.96%
US45204F3W38
1.95%
US248866M693
1.93%
New Jersey Transportation Trust Fund Authority, 5% 15jun2045, USD
1.93%
US490229AR23
1.67%
US34073XKE75
1.67%
San Jose (CA), 5% 1mar2047, USD (2017A)
1.64%
US483270HS69
1.51%
New York Dormitory Authority, 3.25% 1jul2034, USD
1.49%
US71883MPY48
1.46%
Illinois Toll Highway Authority, 5% 1jan2041, USD
1.45%
Frequently asked questions about DFNM and FECM
Which ETF is bigger: DFNM or FECM?
As of September 1, 2026, DFNM holds $2.27 B in assets under management (AUM), while FECM manages $15.31 M.
What sectors do the DFNM and FECM ETFs invest in?
DFNM leans toward sectors like Municipal. Meanwhile, FECM focuses on Municipal.
What are the top holdings of the DFNM ETF and FECM ETF?
DFNM top holdings include County of Hudson, 4% 24feb2027, USD (2026), Revere, 4% 29jul2027, USD and City of Somerville (MA), 4% 28may2027, USD. FECM holds in its top three: US4812C06707, US932423XQ48 and US759831CZ11.
Which ETF is more diversified: DFNM or FECM?
DFNM holds 1204 securities with 8.43% of its assets in the top 15. FECM has 127 securities and a top 15 weight of 31.69%.
Advertisement
Advertisement
