DFNM vs HDEF

Comparison between DIMENSIONAL NATIONAL MUNICIPAL BOND ETF (DFNM, ETF) and XTRACKERS MSCI EAFE HIGH DIVIDEND YIELD EQUITY ETF (HDEF, ETF).

5-Year PerformanceHDEF has outperformed DFNM, delivering a return of +12.0% compared to +1.3%

DFNM vs HDEF - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	DFNM(ETF)	HDEF(ETF)
Net Assets	$2.20B	$2.20B
Expense Ratio	0.17%	0.09%
Max Drawdown	8.40%	38.17%
Sharpe Ratio	0.07	1.47
5Y Beta	0.01	0.40
5Y Dividends CAGR	N/A	12.60%

Net Assets

DFNM

$2.20B

HDEF

$2.20B

Expense Ratio

DFNM

0.17%

Winner

HDEF

0.09%

Max Drawdown

Winner

DFNM

8.40%

HDEF

38.17%

Sharpe Ratio

DFNM

0.07

Winner

HDEF

1.47

5Y Beta

Winner

DFNM

0.01

HDEF

0.40

5Y Dividends CAGR

DFNM

N/A

HDEF

12.60%

DFNM vs HDEF - Historical Returns

Returns include dividend reinvestment.

Period	DFNM	HDEF
1 month	-0.64%	+4.18%
3 months	-0.13%	+6.87%
6 months	-0.18%	+5.56%
1 year	+3.96%	+21.47%
5 years(CAGR)	+1.31%	+12.04%
10 years(CAGR)	N/A	+9.12%
Max(CAGR)	+1.31%	+8.15%

DFNM

-0.64%

Winner

HDEF

+4.18%

DFNM

-0.13%

Winner

HDEF

+6.87%

DFNM

-0.18%

Winner

HDEF

+5.56%

DFNM

+3.96%

Winner

HDEF

+21.47%

5Y(CAGR)

DFNM

+1.31%

Winner

HDEF

+12.04%

10Y(CAGR)

DFNM

N/A

HDEF

+9.12%

Max(CAGR)

DFNM

+1.31%

Winner

HDEF

+8.15%

DFNM vs HDEF - Annual Returns (2015 - 2026)

Returns include dividend reinvestment.

Year	DFNM	HDEF
2026	+0.88%	+12.39%
2025	+3.78%	+33.36%
2024	+1.36%	+3.36%
2023	+3.88%	+17.51%
2022	-3.96%	-3.03%
2021	+0.47%	+6.01%
2020	N/A	-2.76%
2019	N/A	+25.44%
2018	N/A	-13.77%
2017	N/A	+9.90%
2016	N/A	+13.43%
2015	N/A	-4.66%

DFNM vs HDEF Drawdown Comparison

The maximum drawdown for DFNM was -6.99%, occurring on Oct 31, 2022. Recovery took 637 trading sessions.

The maximum drawdown for HDEF was -36.42%, occurring on Mar 23, 2020. Recovery took 255 trading sessions.

The current DFNM drawdown is -0.78%. The current HDEF drawdown is -0.28%.

Rank	DFNM	HDEF
#1	-6.99% Dec 30, 2021 - Jul 16, 2024	-36.42% Jan 2, 2020 - Jan 6, 2021
#2	-2.79% Mar 3, 2025 - Sep 4, 2025	-23.69% Feb 9, 2022 - Apr 6, 2023
#3	-1.84% Feb 27, 2026 - Jul 2, 2026	-17.55% Jan 22, 2018 - Oct 24, 2019
#4	-1.41% Oct 2, 2024 - Dec 2, 2024	-14.95% Aug 18, 2015 - Aug 10, 2016
#5	-1.40% Jul 2, 2026 - Jul 23, 2026	-11.15% Sep 26, 2024 - Mar 5, 2025
#6	-1.33% Dec 6, 2024 - Feb 25, 2025	-10.60% Mar 18, 2025 - Apr 22, 2025
#7	-0.43% Aug 5, 2024 - Sep 3, 2024	-9.31% Jun 15, 2021 - Jan 12, 2022
#8	-0.24% Sep 22, 2025 - Oct 8, 2025	-8.79% Jul 26, 2023 - Dec 13, 2023
#9	-0.21% Nov 11, 2025 - Nov 20, 2025	-8.02% Feb 27, 2026 - Jul 17, 2026
#10	-0.20% Nov 30, 2021 - Dec 20, 2021	-6.39% May 8, 2023 - Jun 15, 2023
#11	-0.19% Oct 22, 2025 - Nov 11, 2025	-5.63% Dec 9, 2016 - Jan 10, 2017
#12	-0.18% Jan 16, 2026 - Jan 28, 2026	-5.46% Dec 27, 2023 - Mar 20, 2024
#13	-0.13% Jul 30, 2024 - Aug 1, 2024	-4.72% Jan 8, 2021 - Mar 16, 2021
#14	-0.13% Sep 17, 2024 - Sep 25, 2024	-4.35% Nov 2, 2017 - Jan 9, 2018
#15	-0.12% Jul 18, 2024 - Jul 30, 2024	-4.24% May 17, 2024 - Jul 12, 2024

Correlation

Correlation between DFNM and HDEF is 0.94 which considered as a very strong positive correlation - the stocks move almost identically together.

0.94

-101

Dividend Comparison (2015 - 2026)

DFNM vs HDEF dividend yield comparison.

Year	DFNM	HDEF
2026	1.55%	2.52%
2025	2.94%	3.88%
2024	2.74%	4.53%
2023	2.39%	4.38%
2022	1.16%	5.41%
2021	0.05%	4.76%
2020	0.00%	3.93%
2019	0.00%	4.20%
2018	0.00%	3.55%
2017	0.00%	3.38%
2016	0.00%	9.52%
2015	0.00%	1.87%