DFA Short Term Municipal Bond I (DFSMX)
| Fund Assets | 1.43B |
| Expense Ratio | 0.19% |
| Min. Investment | $0.00 |
| Turnover | 186.00% |
| Dividend (ttm) | 0.28 |
| Dividend Yield | 2.74% |
| Dividend Growth | 1.75% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Oct 30, 2025 |
| Previous Close | 10.17 |
| YTD Return | 0.87% |
| 1-Year Return | 1.34% |
| 5-Year Return | 6.30% |
| 52-Week Low | 10.14 |
| 52-Week High | 10.22 |
| Beta (5Y) | 0.04 |
| Holdings | 580 |
| Inception Date | Aug 20, 2002 |
About DFSMX
DFA Short Term Municipal Bond Portfolio Institutional Class is a mutual fund designed to deliver federally tax-exempt income while seeking to preserve capital. This fund primarily invests in a diversified portfolio of investment grade municipal bonds issued by U.S. states and local governments, with an average dollar-weighted maturity capped at three years. Its short duration approach aims to minimize interest rate risk while providing steady monthly income for investors, particularly those seeking tax-efficient fixed income options. The portfolio features more than 500 holdings, balancing broad municipal sector exposure and credit quality, and is structured to pay monthly dividends. Its role in the financial market centers on offering tax-advantaged income for institutions and individuals, serving as a conservative allocation within a broader portfolio and helping mitigate portfolio volatility through low correlation with equities and longer-duration bonds.
Performance
DFSMX had a total return of 1.34% in the past year, including dividends. Since the fund's inception, the average annual return has been 1.56%.
Top 10 Holdings
10.78% of assets| Name | Symbol | Weight |
|---|---|---|
| CALIFORNIA ST 5% | CA.CAS 5 04.01.2027 | 1.25% |
| HILLSBOROUGH CNTY FLA INDL DEV AUTH HEALTH SYS REV 3.9% | FL.FLDEV 11.15.2054 | 1.20% |
| MINNESOTA ST 5% | MN.MNS 5 08.01.2027 | 1.13% |
| MARYLAND ST 5% | MD.MDS 5 08.01.2028 | 1.09% |
| BROWARD CNTY FLA SCH DIST 4% | n/a | 1.03% |
| CLOVER S C SCH DIST NO 2 YORK CNTY 5% | n/a | 1.02% |
| UNION CNTY N J 4% | n/a | 1.02% |
| HUDSON CNTY N J 4% | n/a | 1.02% |
| DANBURY CONN 4% | n/a | 1.02% |
| MIAMI-DADE CNTY FLA SCH DIST 4% | FL.MIASCD 4 01.07.2026 | 1.01% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Oct 30, 2025 | $0.02321 | Oct 31, 2025 |
| Sep 29, 2025 | $0.02239 | Sep 30, 2025 |
| Aug 28, 2025 | $0.02055 | Aug 29, 2025 |
| Jul 30, 2025 | $0.02521 | Jul 31, 2025 |
| Jun 27, 2025 | $0.02145 | Jun 30, 2025 |
| May 29, 2025 | $0.02342 | May 30, 2025 |