DFNMvsFUSIETF Comparison
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Dimensional National Municipal Bond ETF (DFNM) belongs to the Municipal Bonds segment. American Century Ultrashort Income ETF (FUSI) is part of the US Aggregate Bonds segment. DFNM's top 1 sector exposures are Municipal. In contrast, FUSI's top sector exposures are Industrials and Sovereign. DFNM is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.19% for FUSI. DFNM is down -1.58% year-to-date (YTD) with +$395M in YTD flows. FUSI performs better with 3.49% YTD performance, and +$43M in YTD flows. Run a side-by-side ETF comparison of DFNM and FUSI 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 FUSI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/13/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | DFNM FUSI | -0.76%+0.21% | -2.93%+0.92% | -1.58%+3.49% | -0.61%+4.58% | +8.48%+17.75% | n/an/a |
| Flows | DFNM FUSI | +$5M+$28M | +$88M+$43M | +$395M+$43M | +$612M+$15M | +$1.32B+$45M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | DFNM FUSI | +3.41%+0.24% | +2.14%+0.30% | +2.30%+0.42% | n/an/a |
| Max drawdown | DFNM FUSI | -4.30%-0.04% | -4.56%-0.08% | -4.56%-0.32% | n/an/a |
| Max drawdown duration | DFNM FUSI | 92d8d | 99d4d | 99d19d | n/an/a |
Trading data
DFNM | FUSI | |
Last sale 10/15/2026 at 1:30 PM | $46.71 | $50.46 |
| Previous close 10/14/2026 | $46.45 | $50.41 |
| Consolidated volume 10/14/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/15/2026 at 1:30 PM
Live
Closed
DFNM | FUSI | |
|---|---|---|
| Last price | $46.71 | $50.46 |
| 1D performance | +0.56% | +0.11% |
| AuM | $2.24 B | $65.47 M |
| E/R | 0.18% | 0.19% |
Characteristics
DFNM | FUSI | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Dimensional | American Century Investments |
| Benchmark | - | - |
| N° of holdings | 259 | 22 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 15, 2021 | March 16, 2023 |
| ESG | No | No |
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Exposure
Countries
DFNM
USA
30.25%
Other
69.75%
FUSI
USA
30.05%
Other
69.95%
Sectors
DFNM
Municipal
30.25%
Other
69.75%
FUSI
Industrials
22.52%
Sovereign
7.53%
Other
69.95%
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Diversification
DFNM
Total weight of top 15 holdings out of 15
8.59%
FUSI
Total weight of top 15 holdings out of 15
31.49%
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%
Maryland, 5% 1jun2037, USD (2025)
0.49%
US650028F992
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%
FUSI
USA, Notes FRN 31jan2027, USD (AX-2027)
7.53%
LCM 35A, FRN 15oct2034, USD (ABS, BR)
3.02%
Atlas Senior Loan Fund 2021-17A, FRN 20oct2034, USD (ABS, B1)
2.26%
US3136BV2T46
1.98%
US30227TAC45
1.59%
US06759JBA51
1.51%
Brant Point CLO 2023-1A, FRN 26jul2038, USD (ABS, BR)
1.51%
US559916AG67
1.51%
FS Rialto Issuer 2024-FL9, FRN 19oct2039, USD (ABS, A)
1.51%
BX Commercial Mortgage Trust 2026-CSMO, FRN 17feb2043, USD (ABS, A)
1.51%
US87168YAS90
1.51%
US00093DAA72
1.51%
US46676AAA16
1.51%
TPG Real Estate Finance Issuer 2025-FL6, FRN 18sep2042, USD (ABS, A)
1.51%
US55819GBC24
1.51%
Frequently asked questions about DFNM and FUSI
How have the DFNM and FUSI ETFs performed in 2026?
As of October 13, 2026, DFNM is down -1.58% year-to-date (YTD), while FUSI has returned 3.49%. That puts FUSI better performer ahead so far this year.
Which ETF is attracting more investor money: DFNM or FUSI?
Year-to-date, the DFNM ETF saw +$395M in flows, compared to +$43M for FUSI.
Which ETF is more volatile: DFNM or FUSI?
Over the past year, DFNM had a volatility of 2.14%, while FUSI experienced 0.3%.
Which ETF is bigger: DFNM or FUSI?
As of October 13, 2026, DFNM holds $2.24 B in assets under management (AUM), while FUSI manages $65.47 M.
What sectors do the DFNM and FUSI ETFs invest in?
DFNM leans toward sectors like Municipal. Meanwhile, FUSI focuses on Industrials and Sovereign.
What are the top holdings of the DFNM ETF and FUSI ETF?
DFNM top holdings include County of Hudson, 4% 24feb2027, USD (2026), Revere, 4% 29jul2027, USD and US692160VQ47. FUSI holds in its top three: USA, Notes FRN 31jan2027, USD (AX-2027), LCM 35A, FRN 15oct2034, USD (ABS, BR) and Atlas Senior Loan Fund 2021-17A, FRN 20oct2034, USD (ABS, B1).
Which ETF is more diversified: DFNM or FUSI?
DFNM holds 1198 securities with 8.59% of its assets in the top 15. FUSI has 86 securities and a top 15 weight of 31.49%.
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Latest news about DFNM & FUSI
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