DFNMvsMBBAETF Comparison
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Dimensional National Municipal Bond ETF (DFNM) belongs to the Municipal Bonds segment. iShares Mortgage-Backed Securities Active ETF (MBBA) is part of the MBS & ABS segment. DFNM's top 1 sector exposures are Municipal. In contrast, MBBA's top sector exposures are Industrials and Non-Corporate. DFNM is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.26% for MBBA. Run a side-by-side ETF comparison of DFNM and MBBA 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 MBBA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | DFNM MBBA | -0.07%-0.18% | -0.81%-1.07% | +0.32%n/a | +3.08%n/a | +9.28%n/a | n/an/a |
| Flows | DFNM MBBA | +$55M+$5M | +$173M+$35M | +$379M- | +$645M- | +$1.31B- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | DFNM MBBA | +1.63%+4.75% | +1.59%n/a | +2.16%n/a | n/an/a |
| Max drawdown | DFNM MBBA | -1.36%-2.02% | -1.79%n/a | -2.92%n/a | n/an/a |
| Max drawdown duration | DFNM MBBA | 56d64d | 124dn/a | 183dn/a | n/an/a |
Trading data
DFNM | MBBA | |
Last sale 9/1/2026 at 1:30 PM | $47.36 | $48.49 |
| Previous close 09/01/2026 | $47.50 | $48.76 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/1/2026 at 1:30 PM
Live
Closed
DFNM | MBBA | |
|---|---|---|
| Last price | $47.36 | $48.49 |
| 1D performance | -0.28% | -0.56% |
| AuM | $2.27 B | $156.23 M |
| E/R | 0.18% | 0.26% |
Characteristics
DFNM | MBBA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Dimensional | iShares |
| Benchmark | - | - |
| N° of holdings | 271 | 25 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 15, 2021 | January 23, 2026 |
| ESG | No | No |
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Exposure
Countries
DFNM
USA
32.24%
Other
67.76%
MBBA
Data will be available soon
Sectors
DFNM
Municipal
32.24%
Other
67.76%
MBBA
Data will be available soon
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Diversification
DFNM
Total weight of top 15 holdings out of 15
8.43%
MBBA
Data will be available soon
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%
MBBA
Data will be available soon
Frequently asked questions about DFNM and MBBA
Which ETF is bigger: DFNM or MBBA?
As of August 31, 2026, DFNM holds $2.27 B in assets under management (AUM), while MBBA manages $156.23 M.
What sectors do the DFNM and MBBA ETFs invest in?
DFNM leans toward sectors like Municipal. Meanwhile, MBBA focuses on Industrials and Non-Corporate.
What are the top holdings of the DFNM ETF and MBBA ETF?
DFNM top holdings include County of Hudson, 4% 24feb2027, USD (2026), Revere, 4% 29jul2027, USD and City of Somerville (MA), 4% 28may2027, USD. MBBA holds in its top three: US01F0526800, US01F0206874 and BlackRock Liquidity T-Fund.
Which ETF is more diversified: DFNM or MBBA?
DFNM holds 1204 securities with 8.43% of its assets in the top 15. MBBA has 491 securities and a top 15 weight of 89.36%.
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