Dimensional National Municipal Bond ETF (DFNM)

• Market cap: $1.68B
• 1 day: 0.1%
• 5 days: 0.27%
• 1 month: 1.52%
• 3 months: 1.78%
• 6 months: 0.77%
• Year to date: 0.73%
• 1 year: -0.56%
• 5 years: -4.04%
• 10 years: -4.04%

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

18% more repeat investments, than reductions

Existing positions increased: 105 | Existing positions reduced: 89

5% more capital invested

Capital invested by funds: $1.21B [Q1] → $1.27B (+$66.3M) [Q2]

4% more funds holding in top 10

Funds holding in top 10: 23 [Q1] → 24 (+1) [Q2]

5% more first-time investments, than exits

New positions opened: 22 | Existing positions closed: 21

0.74% more ownership

Funds ownership: 80.67% [Q1] → 81.41% (+0.74%) [Q2]

0% more funds holding

Funds holding: 236 [Q1] → 237 (+1) [Q2]