Key stats
About Dimensional California Municipal Bond ETF
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Inception date
Jun 26, 2023
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Dimensional Fund Advisors LP
Distributor
DFA Securities LLC
ISIN
US25434V6332
DFCA provides current income by holding various municipal securities whose interest is exempt from federal and California state income tax. The portfolio is a collection of intermediate-term bearing municipals rated as investment grade, including revenue bonds, general obligation bonds, industrial development bonds, municipal lease obligations, commercial paper, municipal custody receipts, and variable rate demand obligations. Munis are issued often for public purposes, and in certain segments like health care, housing, education, utilities, and transportation, more than 25% of the portfolio may be comprised of such. Investments may also include municipal-based ETFs and money market funds, as well as derivatives such as futures and options contracts, interest rate swaps, and CDS to hedge interest rates. The fund attempts to maintain a dollar-weighted average duration that is no more than six months above but not one year below its benchmarks average duration.
Related funds
Classification
What's in the fund
Exposure type
Municipal
Stock breakdown by region
Top 10 holdings
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
DFCA assets under management is 499.77 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
DFCA invests in bonds. See more details in our Analysis section.
DFCA expense ratio is 0.19%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
No, DFCA isn't leveraged, meaning it doesn't use borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
Yes, DFCA pays dividends to its holders with the dividend yield of 3.00%.
DFCA shares are issued by Dimensional Holdings, Inc.
DFCA follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Jun 26, 2023.
The fund's management style is active, aiming to outperform its benchmark index by actively selecting and adjusting assets. The goal is to achieve returns that exceed those of the index the fund tracks.