TAXEvsDFCAETF Comparison
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T. Rowe Price Intermediate Municipal Income ETF (TAXE) 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. TAXE is more expensive with a Total Expense Ratio (TER) of 0.24%, versus 0.19% for DFCA. TAXE is up 0.25% year-to-date (YTD) with +$97M in YTD flows. DFCA performs worse with -0.18% YTD performance, and +$133M in YTD flows. Run a side-by-side ETF comparison of TAXE 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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TAXE vs DFCA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXE DFCA | -0.43%-0.52% | -1.29%-1.13% | +0.25%-0.18% | +3.92%+2.54% | n/a+7.50% | n/an/a |
| Flows | TAXE DFCA | +$14M+$19M | +$43M+$47M | +$97M+$133M | +$118M+$239M | -+$560M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXE DFCA | +2.25%+1.72% | +2.09%+1.58% | n/a+2.28% | n/an/a |
| Max drawdown | TAXE DFCA | -1.94%-1.64% | -2.39%-1.73% | n/a-3.58% | n/an/a |
| Max drawdown duration | TAXE DFCA | 57d57d | 122d184d | n/a270d | n/an/a |
Trading data
TAXE | DFCA | |
Last sale 9/3/2026 at 5:03 PM | $50.00 | $49.11 |
| Previous close 09/02/2026 | $49.94 | $49.13 |
| 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 5:03 PM
Live
Closed
TAXE | DFCA | |
|---|---|---|
| Last price | $50.00 | $49.11 |
| 1D performance | +0.12% | -0.05% |
| AuM | $202.12 M | $720.67 M |
| E/R | 0.24% | 0.19% |
Characteristics
TAXE | DFCA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | T. Rowe Price | Dimensional |
| Benchmark | - | - |
| N° of holdings | 163 | 133 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 10, 2024 | June 27, 2023 |
| ESG | No | No |
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Exposure
Countries
TAXE
USA
35.75%
Other
64.25%
DFCA
USA
36.1%
Other
63.9%
Sectors
TAXE
Municipal
35.75%
Other
64.25%
DFCA
Municipal
36.1%
Other
63.9%
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Diversification
TAXE
Total weight of top 15 holdings out of 15
12.17%
DFCA
Total weight of top 15 holdings out of 15
13.43%
Top 15 holdings
Data as of July 31, 2026
TAXE
US45204FME24
1.90%
US46246K5E87
0.96%
Michigan Finance Authority, 5% 15aug2055, USD (2025B-1)
0.91%
Puerto Rico, 5.75% 1jul2031, USD
0.85%
US45506EQS53
0.83%
US249182LT15
0.81%
Denver, 5% 1dec2029, USD (2018A)
0.79%
Colorado, 6% 15dec2041, USD (2022)
0.72%
US899530AY53
0.72%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.70%
Puerto Rico Sales Tax Financing Corp., 4.55% 1jul2040, USD
0.62%
US64972JNL88
0.61%
US92812XXT44
0.60%
Black Belt Energy Gas District, 5% 1nov2036, USD (2026)
0.59%
Black Belt Energy Gas District, 4% 1jun2051, USD (2021A)
0.58%
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 TAXE and DFCA
How have the TAXE and DFCA ETFs performed in 2026?
As of September 1, 2026, TAXE is up 0.25% year-to-date (YTD), while DFCA has lost -0.18%. That puts TAXE better performer ahead so far this year.
Which ETF is attracting more investor money: TAXE or DFCA?
Year-to-date, the TAXE ETF saw +$97M in flows, compared to +$133M for DFCA.
Which ETF is more volatile: TAXE or DFCA?
Over the past year, TAXE had a volatility of 2.09%, while DFCA experienced 1.58%.
Which ETF is bigger: TAXE or DFCA?
As of September 1, 2026, TAXE holds $202.12 M in assets under management (AUM), while DFCA manages $720.67 M.
What sectors do the TAXE and DFCA ETFs invest in?
TAXE leans toward sectors like Municipal. Meanwhile, DFCA focuses on Municipal.
What are the top holdings of the TAXE ETF and DFCA ETF?
TAXE top holdings include US45204FME24, US46246K5E87 and Michigan Finance Authority, 5% 15aug2055, USD (2025B-1). DFCA holds in its top three: California, 5% 1apr2035, USD, US769110DA28 and US797661G257.
Which ETF is more diversified: TAXE or DFCA?
TAXE holds 579 securities with 12.17% of its assets in the top 15. DFCA has 505 securities and a top 15 weight of 13.43%.
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