IBMXvsDFNMETF Comparison
VS
iShares iBonds Dec 2035 Term Muni Bond ETF (IBMX) and Dimensional National Municipal Bond ETF (DFNM) belong to the same industry segment: Municipal Bonds. IBMX's top 2 sector exposures are Municipal and Non-Corporate. In contrast, DFNM's top sector exposures are Municipal. IBMX is less expensive with a Total Expense Ratio (TER) of 0.1%, versus 0.18% for DFNM. Run a side-by-side ETF comparison of IBMX 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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IBMX vs DFNM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IBMX DFNM | +5.98%+3.03% | +0.19%-0.42% | n/a+0.11% | n/a+0.62% | n/a+11.01% | n/an/a |
| Flows | IBMX DFNM | +$9M+$42M | +$14M+$102M | -+$426M | -+$604M | -+$1.34B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IBMX DFNM | +6.52%+3.70% | n/a+2.30% | n/a+2.33% | n/an/a |
| Max drawdown | IBMX DFNM | -6.47%-3.93% | n/a-4.56% | n/a-4.56% | n/an/a |
| Max drawdown duration | IBMX DFNM | 75d74d | n/a112d | n/a112d | n/an/a |
Trading data
IBMX | DFNM | |
Last sale 10/28/2026 at 1:30 PM | $24.42 | $47.08 |
| Previous close 10/27/2026 | $24.43 | $47.13 |
| Consolidated volume 10/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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DFNM
is actively managed and doesn’t replicate an indexIBMX | DFNM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/28/2026 at 1:30 PM
Live
Closed
IBMX | DFNM | |
|---|---|---|
| Last price | $24.42 | $47.08 |
| 1D performance | -0.04% | -0.11% |
| AuM | $19.53 M | $2.30 B |
| E/R | 0.1% | 0.18% |
Characteristics
IBMX | DFNM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | iShares | Dimensional |
| Benchmark | S&P AMT-Free Municipal Series Callable-Adjusted 2035 Index | - |
| N° of holdings | 27 | 259 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | April 14, 2026 | November 15, 2021 |
| ESG | No | No |
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Exposure
Countries
IBMX
USA
24.23%
Other
75.77%
DFNM
USA
30.25%
Other
69.75%
Sectors
IBMX
Municipal
23.77%
Other
76.23%
DFNM
Municipal
30.25%
Other
69.75%
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Diversification
IBMX
Total weight of top 15 holdings out of 15
23.03%
DFNM
Total weight of top 15 holdings out of 15
8.59%
Top 15 holdings
Data as of August 31, 2026
IBMX
California, 5% 1oct2035, USD
2.46%
University of Texas, 5% 15aug2036, USD (2025B)
2.01%
Massachusetts Development Finance Agency, 5% 15may2055, USD (2025A-2)
1.86%
US677523RD66
1.77%
US546585XM77
1.49%
University of California, 5% 15may2038, USD (2025)
1.46%
Maryland, 5% 1jun2039, USD (2025)
1.44%
Greater Chicago Metropolitan Water Reclamation District, 5.25% 1dec2035, USD
1.42%
US041431YV32
1.40%
US64990KHR77
1.38%
US438687N683
1.30%
US46613SSM34
1.29%
US29270C5S06
1.28%
Los Angeles Unified School District, 5% 1jul2039, USD (2024QRR)
1.26%
Texas Transportation Commission, 5% 1oct2036, USD (2025)
1.21%
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%
Frequently asked questions about IBMX and DFNM
Which ETF is bigger: IBMX or DFNM?
As of October 27, 2026, IBMX holds $19.53 M in assets under management (AUM), while DFNM manages $2.30 B.
What sectors do the IBMX and DFNM ETFs invest in?
IBMX leans toward sectors like Municipal. Meanwhile, DFNM focuses on Municipal.
What are the top holdings of the IBMX ETF and DFNM ETF?
IBMX top holdings include California, 5% 1oct2035, USD, University of Texas, 5% 15aug2036, USD (2025B) and Massachusetts Development Finance Agency, 5% 15may2055, USD (2025A-2). DFNM holds in its top three: County of Hudson, 4% 24feb2027, USD (2026), Revere, 4% 29jul2027, USD and US692160VQ47.
Which ETF is more diversified: IBMX or DFNM?
IBMX holds 160 securities with 23.03% of its assets in the top 15. DFNM has 1198 securities and a top 15 weight of 8.59%.
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