About the ETF

DFNM was created on 2021-11-15 by Dimensional. The fund's investment portfolio concentrates primarily on investment grade fixed income. The ETF currently has 1426.75m in AUM and 1000 holdings. DFNM is an actively managed ETF that provides exposure to intermediate-term, investment-grade municipal bonds that are exempt from federal income tax.

This fund tracks an index of municipal bonds, a slice of the bond market that is highly coveted due to its tax features. These bonds are generally free from federal taxes and in some cases, state and local income taxes as well making these funds crucial components of portfolios for those in high tax brackets. Muni bonds are used by local entities to pay for a variety of services or to make improvements to infrastructure paying for everything from new sewer systems to school renovations and bridge construction as such, they are relatively low risk instruments