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JIIIvsDFNMETF Comparison

ETF 1

JIII

Janus Henderson Income ETF

This fund is part of

Intl Aggregate Bonds

+0.01%

Full JIII fund page

VS

ETF 2

DFNM

Dimensional National Municipal Bond ETF

This fund is part of

Municipal Bonds

-0%

Full DFNM fund page

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 0.12% year-to-date (YTD) with +$163M in YTD flows. DFNM performs worse with -1% YTD performance, and +$360M 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

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 10/16/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	JIII DFNM	-0.65%+0.02%	-1.68%-2.31%	+0.12%-1.00%	+1.20%-0.15%	n/a+9.22%	n/an/a
Flows	JIII DFNM	+$108M-$35M	+$123M+$41M	+$163M+$360M	+$168M+$562M	-+$1.29B	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	JIII DFNM	+3.12%+3.59%	+2.96%+2.20%	n/a+2.31%	n/an/a
Max drawdown	JIII DFNM	-2.59%-4.26%	-2.59%-4.56%	n/a-4.56%	n/an/a
Max drawdown duration	JIII DFNM	52d92d	52d101d	n/a101d	n/an/a

Trading data

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	JIII	DFNM
Last sale 10/16/2026 at 1:30 PM	$48.24	$46.71
Previous close 10/15/2026	$48.34	$46.71
Consolidated volume 10/15/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Main metrics

Last update 10/16/2026 at 1:30 PM

Live

Closed

	JIII	DFNM
Last price	$48.24	$46.71
1D performance	-0.22%	+0.00%
AuM	$303.19 M	$2.22 B
E/R	0.56%	0.18%

Characteristics

	JIII	DFNM
Management strategy	Active	Active
Provider	Janus Henderson Investors	Dimensional
Benchmark	-	-
N° of holdings	218	259
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	November 12, 2024	November 15, 2021
ESG	No	No

More JIII data on Trackinsight

More DFNM data on Trackinsight

Exposure

Countries

JIII

USA

28.28%

Other

71.72%

DFNM

USA

30.25%

Other

69.75%

Sectors

JIII

Industrials

7.75%

Other

92.25%

DFNM

Municipal

30.25%

Other

69.75%

Diversification

JIII

Total weight of top 15 holdings out of 15

28.24%

DFNM

Total weight of top 15 holdings out of 15

8.59%

Top 15 holdings

Data as of August 31, 2026

JIII

US01F0526982

5.33%

US01F0506927

3.73%

US01F0426993

3.17%

US01F0606917

2.59%

US47103U7384

2.55%

US01F0326904

2.34%

US01F0306948

2.03%

US01F0406938

1.10%

US47103U7467

1.01%

US21H0326965

0.92%

US35564KPP83

0.84%

US207941AF22

0.74%

US362414AG97

0.67%

US171935AA72

0.62%

US35564KNE54

0.59%

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 JIII and DFNM

How have the JIII and DFNM ETFs performed in 2026?

As of October 16, 2026, JIII is up 0.12% year-to-date (YTD), while DFNM has lost -1%. 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 +$163M in flows, compared to +$360M for DFNM.

Which ETF is more volatile: JIII or DFNM?

Over the past year, JIII had a volatility of 2.96%, while DFNM experienced 2.2%.

Which ETF is bigger: JIII or DFNM?

As of October 16, 2026, JIII holds $303.19 M in assets under management (AUM), while DFNM manages $2.22 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 US01F0526982, US01F0506927 and US01F0426993. DFNM holds in its top three: County of Hudson, 4% 24feb2027, USD (2026), Revere, 4% 29jul2027, USD and US692160VQ47.

JIIIvsDFNMETF Comparison

Janus Henderson Income ETF

Dimensional National Municipal Bond ETF

JIII vs DFNM performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the JIII and DFNM ETFs performed in 2026?

As of October 16, 2026, JIII is up 0.12% year-to-date (YTD), while DFNM has lost -1%. 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 +$163M in flows, compared to +$360M for DFNM.

Which ETF is more volatile: JIII or DFNM?

Over the past year, JIII had a volatility of 2.96%, while DFNM experienced 2.2%.

Which ETF is bigger: JIII or DFNM?

As of October 16, 2026, JIII holds $303.19 M in assets under management (AUM), while DFNM manages $2.22 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 US01F0526982, US01F0506927 and US01F0426993. DFNM holds in its top three: County of Hudson, 4% 24feb2027, USD (2026), Revere, 4% 29jul2027, USD and US692160VQ47.

Which ETF is more diversified: JIII or DFNM?

JIII holds 1233 securities with 28.24% of its assets in the top 15. DFNM has 1198 securities and a top 15 weight of 8.59%.

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