PMIOvsDFCAETF Comparison
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PGIM Municipal Income Opportunities ETF (PMIO) and Dimensional California Municipal Bond ETF (DFCA) belong to the same industry segment: Municipal Bonds. PMIO's top 2 sector exposures are Municipal and Non-Corporate. In contrast, DFCA's top sector exposures are Municipal. PMIO is more expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.19% for DFCA. PMIO is down -0.07% year-to-date (YTD) with +$17M in YTD flows. DFCA performs worse with -0.53% YTD performance, and +$128M in YTD flows. Run a side-by-side ETF comparison of PMIO and DFCA 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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PMIO vs DFCA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/10/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PMIO DFCA | -1.54%-1.32% | -1.93%-1.63% | -0.07%-0.53% | +1.74%+1.20% | n/a+7.29% | n/an/a |
| Flows | PMIO DFCA | +$1M+$12M | +$4M+$40M | +$17M+$128M | +$25M+$224M | -+$555M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PMIO DFCA | +2.50%+1.77% | +2.07%+1.53% | n/a+2.28% | n/an/a |
| Max drawdown | PMIO DFCA | -2.43%-1.98% | -2.43%-2.07% | n/a-3.58% | n/an/a |
| Max drawdown duration | PMIO DFCA | 66d65d | 66d192d | n/a270d | n/an/a |
Trading data
PMIO | DFCA | |
Last sale 9/11/2026 at 1:30 PM | $49.62 | $48.80 |
| Previous close 09/10/2026 | $49.46 | $48.71 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
PMIO | DFCA | |
|---|---|---|
| Last price | $49.62 | $48.80 |
| 1D performance | +0.32% | +0.18% |
| AuM | $50.76 M | $713.28 M |
| E/R | 0.25% | 0.19% |
Characteristics
PMIO | DFCA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | PGIM | Dimensional |
| Benchmark | - | - |
| N° of holdings | 3899 | 133 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 28, 2024 | June 27, 2023 |
| ESG | No | No |
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Exposure
Countries
PMIO
USA
37.59%
Other
62.41%
DFCA
USA
36.1%
Other
63.9%
Sectors
PMIO
Municipal
35.68%
Other
64.32%
DFCA
Municipal
36.1%
Other
63.9%
Diversification
PMIO
Total weight of top 15 holdings out of 15
29.74%
DFCA
Total weight of top 15 holdings out of 15
13.43%
Top 15 holdings
Data as of July 31, 2026
PMIO
Black Belt Energy Gas District, 5.5% 1jun2049, USD (2023)
2.50%
US34074HJC79
2.30%
Illinois Toll Highway Authority, 5% 1jan2045, USD
2.29%
US74442PB613
2.21%
Kentucky Public Energy Authority, 5.25% 1apr2054, USD (2023)
2.11%
County of Utah, 5% 15may2043, USD (2020A)
2.07%
New York Liberty Development Corp., 2.45% 15sep2069, USD (2019)
2.03%
US63607WBD56
1.91%
PGIM Core Government Money Market Fund
1.90%
US63607WBN39
1.84%
National Finance Authority, 6.5% 1dec2034, USD (2026)
1.81%
US63607DAB29
1.76%
US64985STJ23
1.68%
US924190WL18
1.68%
US92708HAQ74
1.66%
DFCA
California, 5% 1apr2035, USD
1.53%
US769110DA28
1.32%
US797661G257
1.04%
US072024YF30
0.95%
US544647HM52
0.91%
US797661D510
0.90%
California, 5% 1oct2042, USD
0.88%
California, 5% 1oct2029, USD
0.79%
US013079R2J7
0.77%
US797661F424
0.76%
California, 4% 1nov2036, USD
0.75%
US544647JH40
0.73%
US013079QGW5
0.70%
US013079Q2R1
0.70%
University of California Medical Center, FRN 15may2045, USD
0.70%
Frequently asked questions about PMIO and DFCA
How have the PMIO and DFCA ETFs performed in 2026?
As of September 10, 2026, PMIO is down -0.07% year-to-date (YTD), while DFCA has lost -0.53%. That puts PMIO better performer ahead so far this year.
Which ETF is attracting more investor money: PMIO or DFCA?
Year-to-date, the PMIO ETF saw +$17M in flows, compared to +$128M for DFCA.
Which ETF is more volatile: PMIO or DFCA?
Over the past year, PMIO had a volatility of 2.07%, while DFCA experienced 1.53%.
Which ETF is bigger: PMIO or DFCA?
As of September 10, 2026, PMIO holds $50.76 M in assets under management (AUM), while DFCA manages $713.28 M.
What sectors do the PMIO and DFCA ETFs invest in?
PMIO leans toward sectors like Municipal. Meanwhile, DFCA focuses on Municipal.
What are the top holdings of the PMIO ETF and DFCA ETF?
PMIO top holdings include Black Belt Energy Gas District, 5.5% 1jun2049, USD (2023), US34074HJC79 and Illinois Toll Highway Authority, 5% 1jan2045, USD. DFCA holds in its top three: California, 5% 1apr2035, USD, US769110DA28 and US797661G257.
Which ETF is more diversified: PMIO or DFCA?
PMIO holds 6869 securities with 29.74% of its assets in the top 15. DFCA has 505 securities and a top 15 weight of 13.43%.
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