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 0.62% year-to-date (YTD) with +$6M in YTD flows. DFCA performs worse with -1.42% YTD performance, and -$53M 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 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | STAX DFCA | -0.05%-0.25% | -0.88%-2.57% | +0.62%-1.42% | +1.00%-0.56% | n/a+7.63% | n/an/a |
| Flows | STAX DFCA | -$3K-$180M | -$2M-$157M | +$6M-$53M | +$6M+$6M | -+$368M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | STAX DFCA | +2.37%+3.74% | +1.45%+2.24% | n/a+2.42% | n/an/a |
| Max drawdown | STAX DFCA | -2.49%-4.53% | -2.57%-4.89% | n/a-4.89% | n/an/a |
| Max drawdown duration | STAX DFCA | 64d92d | 101d228d | n/a228d | n/an/a |
Trading data
STAX | DFCA | |
Last sale 10/16/2026 at 1:30 PM | $24.92 | $48.36 |
| Previous close 10/16/2026 | $24.92 | $48.39 |
| Consolidated volume 10/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
STAX | DFCA | |
|---|---|---|
| Last price | $24.92 | $48.36 |
| 1D performance | +0.00% | -0.06% |
| AuM | $11.24 M | $522.39 M |
| E/R | 0.29% | 0.19% |
Characteristics
STAX | DFCA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Nomura | Dimensional |
| Benchmark | - | - |
| N° of holdings | 30 | 130 |
| 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
34.04%
Other
65.96%
DFCA
USA
36.89%
Other
63.11%
Sectors
STAX
Municipal
34.04%
Other
65.96%
DFCA
Municipal
36.89%
Other
63.11%
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Diversification
STAX
Total weight of top 15 holdings out of 15
27.98%
DFCA
Total weight of top 15 holdings out of 15
16.19%
Top 15 holdings
Data as of August 31, 2026
STAX
US650116FF84
2.40%
US4521525L18
2.31%
US85236DAK46
2.12%
Chicago, 5% 1nov2026, USD (2004)
2.08%
US45470YGF25
1.90%
US54877EAC03
1.89%
Tobacco Settlement Financing Corp. (NJ), 5% 1jun2029, USD (2018A)
1.82%
New York Transportation Development Corp., 5% 1jan2028, USD (2018)
1.80%
US472682YZ07
1.79%
US73358XNJ71
1.74%
US60374VEX73
1.73%
US46613SRN26
1.73%
US725304TX70
1.66%
US63608SAG75
1.55%
Equitable School Revolving Fund, 5% 1nov2028, USD (2022A)
1.47%
DFCA
US072024YF30
2.25%
US544657JD25
1.84%
California, 5% 1apr2035, USD
1.53%
US769110DA28
1.32%
US797661G257
1.04%
City of Los Angeles, 5% 24jun2027, USD (2026)
0.96%
US544647HM52
0.91%
US797661D510
0.90%
California, 5% 1oct2042, USD
0.88%
California, 5% 1oct2029, USD
0.79%
US013079R2J7
0.77%
California, 5% 1mar2038, USD
0.77%
US797661F424
0.76%
California, 4% 1nov2036, USD
0.74%
US13077DYZ94
0.73%
Frequently asked questions about STAX and DFCA
How have the STAX and DFCA ETFs performed in 2026?
As of October 16, 2026, STAX is up 0.62% year-to-date (YTD), while DFCA has lost -1.42%. 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 -$53M for DFCA.
Which ETF is more volatile: STAX or DFCA?
Over the past year, STAX had a volatility of 1.45%, while DFCA experienced 2.24%.
Which ETF is bigger: STAX or DFCA?
As of October 16, 2026, STAX holds $11.24 M in assets under management (AUM), while DFCA manages $522.39 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 US650116FF84, US4521525L18 and US85236DAK46. DFCA holds in its top three: US072024YF30, US544657JD25 and California, 5% 1apr2035, USD.
Which ETF is more diversified: STAX or DFCA?
STAX holds 82 securities with 27.98% of its assets in the top 15. DFCA has 490 securities and a top 15 weight of 16.19%.
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