FTPAvsDFNMETF Comparison
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Franklin Pennsylvania Municipal Income ETF (FTPA) and Dimensional National Municipal Bond ETF (DFNM) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. FTPA is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.18% for DFNM. FTPA is down -4.51% year-to-date (YTD) with +$48M in YTD flows. DFNM performs better with -1% YTD performance, and +$360M in YTD flows. Run a side-by-side ETF comparison of FTPA and DFNM 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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FTPA vs DFNM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FTPA DFNM | -1.10%+0.02% | -5.56%-2.31% | -4.51%-1.00% | n/a-0.15% | n/a+9.22% | n/an/a |
| Flows | FTPA DFNM | +$14M-$35M | +$28M+$41M | +$48M+$360M | -+$562M | -+$1.29B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FTPA DFNM | +6.17%+3.59% | n/a+2.20% | n/a+2.31% | n/an/a |
| Max drawdown | FTPA DFNM | -7.63%-4.26% | n/a-4.56% | n/a-4.56% | n/an/a |
| Max drawdown duration | FTPA DFNM | 92d92d | n/a101d | n/a101d | n/an/a |
Trading data
FTPA | DFNM | |
Last sale 10/19/2026 at 1:30 PM | $46.71 | |
| Previous close 10/16/2026 | $46.71 | |
| 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 1:30 PM
Live
Closed
FTPA | DFNM | |
|---|---|---|
| Last price | – | $46.71 |
| 1D performance | – | +0.00% |
| AuM | $122.78 M | $2.22 B |
| E/R | 0.35% | 0.18% |
Characteristics
FTPA | DFNM | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Franklin Templeton | Dimensional |
| Benchmark | - | - |
| N° of holdings | 28 | 259 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 10, 2025 | November 15, 2021 |
| ESG | No | No |
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Exposure
Countries
FTPA
USA
29.86%
Other
70.14%
DFNM
USA
30.25%
Other
69.75%
Sectors
FTPA
Municipal
29.86%
Other
70.14%
DFNM
Municipal
30.25%
Other
69.75%
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Diversification
FTPA
Total weight of top 15 holdings out of 15
25.07%
DFNM
Total weight of top 15 holdings out of 15
8.59%
Top 15 holdings
Data as of August 31, 2026
FTPA
Philadelphia, 5% 1aug2047, USD
2.61%
Allegheny Hospital Development Authority, 4% 1apr2044, USD
1.89%
US842039FR53
1.89%
US709221SB22
1.81%
US709225QR06
1.72%
US230822TW83
1.63%
Pennsylvania Economic Development Financing Authority, 5% 15feb2039, USD (2022A)
1.62%
North Penn School District, 5% 1mar2051, USD (2026)
1.62%
Pennsylvania Economic Development Financing Authority, 5.25% 15dec2051, USD (2026)
1.61%
US52480RGN44
1.61%
US087470BX73
1.58%
Lackawanna Industrial Development Authority, 4% 1nov2040, USD
1.41%
US717868HY29
1.38%
US458436YP15
1.36%
US708692AH10
1.34%
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%
Frequently asked questions about FTPA and DFNM
How have the FTPA and DFNM ETFs performed in 2026?
As of October 16, 2026, FTPA is down -4.51% year-to-date (YTD), while DFNM has lost -1%. That puts DFNM better performer ahead so far this year.
Which ETF is attracting more investor money: FTPA or DFNM?
Year-to-date, the FTPA ETF saw +$48M in flows, compared to +$360M for DFNM.
Which ETF is bigger: FTPA or DFNM?
As of October 16, 2026, FTPA holds $122.78 M in assets under management (AUM), while DFNM manages $2.22 B.
What sectors do the FTPA and DFNM ETFs invest in?
FTPA leans toward sectors like Municipal. Meanwhile, DFNM focuses on Municipal.
What are the top holdings of the FTPA ETF and DFNM ETF?
FTPA top holdings include Philadelphia, 5% 1aug2047, USD, Allegheny Hospital Development Authority, 4% 1apr2044, USD and US842039FR53. DFNM holds in its top three: County of Hudson, 4% 24feb2027, USD (2026), Revere, 4% 29jul2027, USD and US692160VQ47.
Which ETF is more diversified: FTPA or DFNM?
FTPA holds 111 securities with 25.07% of its assets in the top 15. DFNM has 1198 securities and a top 15 weight of 8.59%.
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