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 down -0.99% year-to-date (YTD) with +$252M in YTD flows. DFCA performs worse with -1.42% YTD performance, and -$53M 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 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXE DFCA | -0.03%-0.25% | -2.75%-2.57% | -0.99%-1.42% | -0.00%-0.56% | n/a+7.63% | n/an/a |
| Flows | TAXE DFCA | +$153M-$180M | +$184M-$157M | +$252M-$53M | +$272M+$6M | -+$368M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXE DFCA | +4.50%+3.74% | +2.78%+2.24% | n/a+2.42% | n/an/a |
| Max drawdown | TAXE DFCA | -5.12%-4.53% | -5.51%-4.89% | n/a-4.89% | n/an/a |
| Max drawdown duration | TAXE DFCA | 92d92d | 101d228d | n/a228d | n/an/a |
Trading data
TAXE | DFCA | |
Last sale 10/19/2026 at 1:30 PM | $49.22 | $48.38 |
| Previous close 10/16/2026 | $49.23 | $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 10/19/2026 at 1:30 PM
Live
Closed
TAXE | DFCA | |
|---|---|---|
| Last price | $49.22 | $48.38 |
| 1D performance | -0.02% | -0.02% |
| AuM | $356.20 M | $522.39 M |
| E/R | 0.24% | 0.19% |
Characteristics
TAXE | DFCA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | T. Rowe Price | Dimensional |
| Benchmark | - | - |
| N° of holdings | 169 | 130 |
| 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
36.28%
Other
63.72%
DFCA
USA
36.89%
Other
63.11%
Sectors
TAXE
Municipal
36.28%
Other
63.72%
DFCA
Municipal
36.89%
Other
63.11%
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Diversification
TAXE
Total weight of top 15 holdings out of 15
11.04%
DFCA
Total weight of top 15 holdings out of 15
16.19%
Top 15 holdings
Data as of August 31, 2026
TAXE
New York Municipal Water Finance Authority, FRN 15jun2053, USD (2023)
1.63%
Puerto Rico, 5.75% 1jul2031, USD
0.87%
Michigan Finance Authority, 5% 15aug2055, USD (2025B-1)
0.85%
US249182LT15
0.75%
Denver, 5% 1dec2029, USD (2018A)
0.74%
US899530AY53
0.74%
US736754TT94
0.71%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.68%
Colorado, 6% 15dec2041, USD (2022)
0.67%
US040507QB45
0.59%
Puerto Rico Sales Tax Financing Corp., 4.55% 1jul2040, USD
0.58%
South Carolina Jobs-Economic Development Authority, 5% 1may2043, USD (2018A)
0.56%
US92812XXT44
0.56%
US64972JNL88
0.56%
Black Belt Energy Gas District, 5% 1nov2036, USD (2026)
0.55%
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 TAXE and DFCA
How have the TAXE and DFCA ETFs performed in 2026?
As of October 15, 2026, TAXE is down -0.99% year-to-date (YTD), while DFCA has lost -1.42%. 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 +$252M in flows, compared to -$53M for DFCA.
Which ETF is more volatile: TAXE or DFCA?
Over the past year, TAXE had a volatility of 2.78%, while DFCA experienced 2.24%.
Which ETF is bigger: TAXE or DFCA?
As of October 15, 2026, TAXE holds $356.20 M in assets under management (AUM), while DFCA manages $522.39 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 New York Municipal Water Finance Authority, FRN 15jun2053, USD (2023), Puerto Rico, 5.75% 1jul2031, USD and Michigan Finance Authority, 5% 15aug2055, USD (2025B-1). DFCA holds in its top three: US072024YF30, US544657JD25 and California, 5% 1apr2035, USD.
Which ETF is more diversified: TAXE or DFCA?
TAXE holds 612 securities with 11.04% of its assets in the top 15. DFCA has 490 securities and a top 15 weight of 16.19%.
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