STAXvsDFCAETF Comparison
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Nomura Tax-Free USA Short Term ETF (STAX) and Dimensional California Municipal Bond ETF (DFCA) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. STAX is more expensive with a Total Expense Ratio (TER) of 0.29%, versus 0.19% for DFCA. STAX is up 1.23% year-to-date (YTD) with +$6M in YTD flows. DFCA performs worse with -0.18% YTD performance, and +$133M in YTD flows. Run a side-by-side ETF comparison of STAX 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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STAX vs DFCA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | STAX DFCA | +0.04%-0.52% | +0.11%-1.13% | +1.23%-0.18% | +2.08%+2.54% | n/a+7.50% | n/an/a |
| Flows | STAX DFCA | -$2M+$19M | +$5M+$47M | +$6M+$133M | +$6M+$239M | -+$560M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | STAX DFCA | +1.06%+1.72% | +0.99%+1.58% | n/a+2.28% | n/an/a |
| Max drawdown | STAX DFCA | -0.63%-1.64% | -1.05%-1.73% | n/a-3.58% | n/an/a |
| Max drawdown duration | STAX DFCA | 57d57d | 106d184d | n/a270d | n/an/a |
Trading data
STAX | DFCA | |
Last sale 9/2/2026 at 1:30 PM | $25.17 | $49.13 |
| Previous close 09/02/2026 | $25.17 | $49.12 |
| 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 9/2/2026 at 1:30 PM
Live
Closed
STAX | DFCA | |
|---|---|---|
| Last price | $25.17 | $49.13 |
| 1D performance | +0.00% | +0.03% |
| AuM | $11.34 M | $720.67 M |
| E/R | 0.29% | 0.19% |
Characteristics
STAX | DFCA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Nomura | Dimensional |
| Benchmark | - | - |
| N° of holdings | 36 | 133 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 28, 2023 | June 27, 2023 |
| ESG | No | No |
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Exposure
Countries
STAX
USA
37.04%
Other
62.96%
DFCA
USA
36.1%
Other
63.9%
Sectors
STAX
Municipal
37.04%
Other
62.96%
DFCA
Municipal
36.1%
Other
63.9%
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Diversification
STAX
Total weight of top 15 holdings out of 15
26.01%
DFCA
Total weight of top 15 holdings out of 15
13.43%
Top 15 holdings
Data as of July 31, 2026
STAX
Chicago, 5% 1nov2026, USD (2004)
2.43%
US68608JXF38
2.27%
US650116FF84
2.05%
US4521525L18
1.98%
US85236DAK46
1.82%
US882724JZ14
1.66%
US48504NCT46
1.60%
New Jersey, 5% 1jun2029, USD
1.60%
Tobacco Settlement Financing Corp. (NJ), 5% 1jun2029, USD (2018A)
1.56%
New York Transportation Development Corp., 5% 1jan2028, USD (2018)
1.55%
US472682YZ07
1.53%
US54877EAC03
1.50%
US73358XNJ71
1.49%
US60374VEX73
1.49%
New York Metropolitan Transportation Authority, 5% 15nov2030, USD (2017D)
1.48%
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 STAX and DFCA
How have the STAX and DFCA ETFs performed in 2026?
As of September 2, 2026, STAX is up 1.23% year-to-date (YTD), while DFCA has lost -0.18%. That puts STAX better performer ahead so far this year.
Which ETF is attracting more investor money: STAX or DFCA?
Year-to-date, the STAX ETF saw +$6M in flows, compared to +$133M for DFCA.
Which ETF is more volatile: STAX or DFCA?
Over the past year, STAX had a volatility of 0.99%, while DFCA experienced 1.58%.
Which ETF is bigger: STAX or DFCA?
As of September 2, 2026, STAX holds $11.34 M in assets under management (AUM), while DFCA manages $720.67 M.
What sectors do the STAX and DFCA ETFs invest in?
STAX leans toward sectors like Municipal. Meanwhile, DFCA focuses on Municipal.
What are the top holdings of the STAX ETF and DFCA ETF?
STAX top holdings include Chicago, 5% 1nov2026, USD (2004), US68608JXF38 and US650116FF84. DFCA holds in its top three: California, 5% 1apr2035, USD, US769110DA28 and US797661G257.
Which ETF is more diversified: STAX or DFCA?
STAX holds 92 securities with 26.01% of its assets in the top 15. DFCA has 505 securities and a top 15 weight of 13.43%.
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