JIIIvsDFNMETF Comparison
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Janus Henderson Income ETF (JIII) belongs to the Intl Aggregate Bonds segment. Dimensional National Municipal Bond ETF (DFNM) is part of the Municipal Bonds segment. JIII's top 3 sector exposures are Industrials, Finance and Energy. In contrast, DFNM's top sector exposures are Municipal. JIII is more expensive with a Total Expense Ratio (TER) of 0.56%, versus 0.18% for DFNM. JIII is up 1.8% year-to-date (YTD) with +$55M in YTD flows. DFNM performs worse with -0.02% YTD performance, and +$379M in YTD flows. Run a side-by-side ETF comparison of JIII 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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JIII vs DFNM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | JIII DFNM | +0.22%-0.48% | +0.47%-1.14% | +1.80%-0.02% | +4.01%+2.73% | n/a+8.95% | n/an/a |
| Flows | JIII DFNM | +$10M+$45M | +$25M+$173M | +$55M+$379M | +$62M+$645M | -+$1.31B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | JIII DFNM | +2.96%+1.74% | +2.77%+1.62% | n/a+2.17% | n/an/a |
| Max drawdown | JIII DFNM | -0.91%-1.65% | -2.27%-1.79% | n/a-2.92% | n/an/a |
| Max drawdown duration | JIII DFNM | 37d57d | 46d124d | n/a183d | n/an/a |
Trading data
JIII | DFNM | |
Last sale 9/3/2026 at 1:30 PM | $49.08 | $47.28 |
| Previous close 09/02/2026 | $49.04 | $47.31 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/3/2026 at 1:30 PM
Live
Closed
JIII | DFNM | |
|---|---|---|
| Last price | $49.08 | $47.28 |
| 1D performance | +0.08% | -0.06% |
| AuM | $199.01 M | $2.27 B |
| E/R | 0.56% | 0.18% |
Characteristics
JIII | DFNM | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Janus Henderson Investors | Dimensional |
| Benchmark | - | - |
| N° of holdings | 458 | 271 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 12, 2024 | November 15, 2021 |
| ESG | No | No |
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Exposure
Countries
JIII
USA
29.18%
Other
70.82%
DFNM
USA
32.24%
Other
67.76%
Sectors
JIII
Industrials
7.25%
Other
92.75%
DFNM
Municipal
32.24%
Other
67.76%
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Diversification
JIII
Total weight of top 15 holdings out of 15
27.43%
DFNM
Total weight of top 15 holdings out of 15
8.43%
Top 15 holdings
Data as of July 31, 2026
JIII
US01F0526800
5.68%
US01F0506844
3.97%
US01F0426811
3.38%
US01F0606834
2.76%
US01F0326821
2.49%
US01F0306864
2.16%
US01F0406854
1.17%
US21H0326882
0.98%
US35564KPP83
0.90%
US207941AF22
0.79%
US362414AG97
0.71%
US171935AA72
0.66%
US35564KNE54
0.63%
US20754EAJ47
0.58%
BX Trust 2024-GPA3, FRN 15dec2039, USD (ABS, C)
0.56%
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%
Frequently asked questions about JIII and DFNM
How have the JIII and DFNM ETFs performed in 2026?
As of September 2, 2026, JIII is up 1.8% year-to-date (YTD), while DFNM has lost -0.02%. That puts JIII better performer ahead so far this year.
Which ETF is attracting more investor money: JIII or DFNM?
Year-to-date, the JIII ETF saw +$55M in flows, compared to +$379M for DFNM.
Which ETF is more volatile: JIII or DFNM?
Over the past year, JIII had a volatility of 2.77%, while DFNM experienced 1.62%.
Which ETF is bigger: JIII or DFNM?
As of September 2, 2026, JIII holds $199.01 M in assets under management (AUM), while DFNM manages $2.27 B.
What sectors do the JIII and DFNM ETFs invest in?
JIII leans toward sectors like Industrials. Meanwhile, DFNM focuses on Municipal.
What are the top holdings of the JIII ETF and DFNM ETF?
JIII top holdings include US01F0526800, US01F0506844 and US01F0426811. DFNM holds in its top three: County of Hudson, 4% 24feb2027, USD (2026), Revere, 4% 29jul2027, USD and City of Somerville (MA), 4% 28may2027, USD.
Which ETF is more diversified: JIII or DFNM?
JIII holds 1453 securities with 27.43% of its assets in the top 15. DFNM has 1204 securities and a top 15 weight of 8.43%.
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