---
ticker: "DFNM"
name: "Dimensional - National Municipal Bond ETF"
url: "https://etf.net/etf/DFNM"
grade: "A"
score: 78
graded_at: "2026-10-12"
category: "Other Municipal Bond"
category_rank: "10 of 63"
methodology: "https://etf.net/methodology"
---

# DFNM: Dimensional - National Municipal Bond ETF

Grade **A**, Score 78 of 100. Rank 10 of 63 in Other Municipal Bond.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 82 | 11 of 63 |
| Mission | 79 | 44 of 59 |
| Risk | 61 | 15 of 63 |
| Tradability | 84 | 5 of 63 |
| Holdings | 87 | 6 of 63 |
| Durability | 71 | 17 of 63 |

## Top holdings

The fund holds 1183 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Cash and Cash Equivalents | 1.90% |
| 2 | — | Hudson Co 4.% 02/24/27 | 0.82% |
| 3 | — | Revere-Ba 4.% 07/29/27 | 0.73% |
| 4 | — | Oyster 4% 08/20/27 | 0.68% |
| 5 | — | Somervill 4.% 05/28/27 | 0.68% |
| 6 | — | Hoboken-A 4.% 03/08/27 | 0.68% |
| 7 | — | Mancheste 4.% 11/12/26 | 0.60% |
| 8 | — | Michigan 5.% 08/15/42 | 0.56% |
| 9 | — | Monmout 4% 07/15/27 | 0.52% |
| 10 | — | New Mexic 5.% 03/01/27 | 0.50% |
| 11 | — | Orlando 5% 10/01/28 | 0.49% |
| 12 | — | Fairfax C 4.% 10/01/29 | 0.48% |
| 13 | — | Maryland 5.% 06/01/37 | 0.48% |
| 14 | — | Ny St Thr 5.% 09/15/37 | 0.48% |
| 15 | — | Miami-Dad 5.% 07/01/28 | 0.47% |
| 16 | — | Charlesto 5.% 05/06/27 | 0.47% |
| 17 | — | Houston-T 5.% 06/30/27 | 0.46% |
| 18 | — | Danbury 4% 02/22/27 | 0.45% |
| 19 | — | Cobb Co’s 4.% 12/15/26 | 0.45% |
| 20 | — | Wisconsin 5% 05/01/31 | 0.44% |
| 21 | — | Univ of H 5.% 02/15/30 | 0.43% |
| 22 | — | Massachus 5.% 12/01/43 | 0.42% |
| 23 | — | Massachus 5.00% 08/01/41 | 0.39% |
| 24 | — | Miami Dad 4.% 01/07/27 | 0.39% |
| 25 | — | Energy Nw 5.% 07/01/28 | 0.38% |
| 26 | — | Washingto 5.% 08/01/38 | 0.38% |
| 27 | — | New York 5.% 02/15/41 | 0.37% |
| 28 | — | Miami-Dad 5.% 03/15/39 | 0.37% |
| 29 | — | Sarpy Co 5.% 12/01/44 | 0.36% |
| 30 | — | Montgomer 4.% 08/01/44 | 0.35% |

Source: etf.net, https://etf.net/etf/DFNM. Please cite the page URL.