TAXFvsDFCAETF Comparison
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American Century Diversified Municipal Bond ETF (TAXF) 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. TAXF is more expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.19% for DFCA. TAXF is up 0.1% year-to-date (YTD) with +$143M in YTD flows. DFCA performs better with 0.13% YTD performance, and +$133M in YTD flows. Run a side-by-side ETF comparison of TAXF 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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TAXF 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. | TAXF DFCA | -0.79%-0.14% | -1.55%-0.81% | +0.10%+0.13% | +4.52%+2.87% | +11.22%+7.81% | +3.20%n/a |
| Flows | TAXF DFCA | +$5M+$19M | +$38M+$47M | +$143M+$133M | +$193M+$239M | +$348M+$560M | +$554M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXF DFCA | +2.75%+1.62% | +2.59%+1.54% | +3.77%+2.27% | +3.72%n/a |
| Max drawdown | TAXF DFCA | -2.50%-1.32% | -2.70%-1.73% | -5.30%-3.58% | -13.26%n/a |
| Max drawdown duration | TAXF DFCA | 58d56d | 114d183d | 275d270d | 1001dn/a |
Trading data
TAXF | DFCA | |
Last sale 9/2/2026 at 1:30 PM | $49.31 | $49.13 |
| Previous close 09/01/2026 | $49.33 | $49.12 |
| Consolidated volume 09/01/2026 | ||
| 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
TAXF | DFCA | |
|---|---|---|
| Last price | $49.31 | $49.13 |
| 1D performance | -0.05% | +0.03% |
| AuM | $680.13 M | $722.96 M |
| E/R | 0.25% | 0.19% |
Characteristics
TAXF | DFCA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | American Century Investments | Dimensional |
| Benchmark | - | - |
| N° of holdings | 253 | 133 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 10, 2018 | June 27, 2023 |
| ESG | No | No |
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Exposure
Countries
TAXF
USA
37.04%
Other
62.96%
DFCA
USA
36.1%
Other
63.9%
Sectors
TAXF
Municipal
37.04%
Other
62.96%
DFCA
Municipal
36.1%
Other
63.9%
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Diversification
TAXF
Total weight of top 15 holdings out of 15
8.47%
DFCA
Total weight of top 15 holdings out of 15
13.43%
Top 15 holdings
Data as of July 31, 2026
TAXF
US74442PN840
0.89%
Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3)
0.87%
Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A)
0.73%
US60637GRY79
0.65%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.57%
US646080ZU81
0.57%
US452252RA98
0.55%
Southeast Alabama Gas Supply District, FRN 1aug2054, USD (A)
0.54%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
0.54%
US681725PH47
0.47%
Orlando Utilities Commission, 5% 1oct2048, USD (2023A)
0.46%
US74439YBD22
0.44%
US292723AY90
0.42%
Patriots Energy Group Financing Agency, 5.25% 1oct2054, USD (2023A-1)
0.40%
New York Transitional Finance Authority, 5.5% 1nov2054, USD (2026)
0.39%
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 TAXF and DFCA
How have the TAXF and DFCA ETFs performed in 2026?
As of September 1, 2026, TAXF is up 0.1% year-to-date (YTD), while DFCA has returned 0.13%. That puts DFCA better performer ahead so far this year.
Which ETF is attracting more investor money: TAXF or DFCA?
Year-to-date, the TAXF ETF saw +$143M in flows, compared to +$133M for DFCA.
Which ETF is more volatile: TAXF or DFCA?
Over the past year, TAXF had a volatility of 2.59%, while DFCA experienced 1.54%.
Which ETF is bigger: TAXF or DFCA?
As of September 1, 2026, TAXF holds $680.13 M in assets under management (AUM), while DFCA manages $722.96 M.
What sectors do the TAXF and DFCA ETFs invest in?
TAXF leans toward sectors like Municipal. Meanwhile, DFCA focuses on Municipal.
What are the top holdings of the TAXF ETF and DFCA ETF?
TAXF top holdings include US74442PN840, Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3) and Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A). DFCA holds in its top three: California, 5% 1apr2035, USD, US769110DA28 and US797661G257.
Which ETF is more diversified: TAXF or DFCA?
TAXF holds 785 securities with 8.47% of its assets in the top 15. DFCA has 505 securities and a top 15 weight of 13.43%.
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