DFNM vs TSPA
Comparison between DIMENSIONAL NATIONAL MUNICIPAL BOND ETF (DFNM, ETF) and T. ROWE PRICE U.S. EQUITY RESEARCH ETF (TSPA, ETF).
DFNM vs TSPA - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
DFNM
$2.10B
TSPA
$2.10B
Expense Ratio
Winner
DFNM
0.17%
TSPA
0.34%
Max Drawdown
Winner
DFNM
8.40%
TSPA
24.72%
Sharpe Ratio
DFNM
0.67
Winner
TSPA
2.00
5Y Beta
Winner
DFNM
0.00
TSPA
0.97
P/E Ratio
DFNM
N/A
TSPA
29.92
Forward P/E
DFNM
N/A
TSPA
22.50
PEG Ratio
DFNM
N/A
TSPA
0.59
5Y EPS CAGR
DFNM
N/A
TSPA
28.25%
Debt to Equity
DFNM
N/A
TSPA
44.08%
P/S Ratio
DFNM
N/A
TSPA
3.64
P/B Ratio
DFNM
N/A
TSPA
5.41
DFNM vs TSPA - Historical Returns
Returns include dividend reinvestment.
1M
DFNM
+0.37%
Winner
TSPA
+9.39%
3M
DFNM
-0.19%
Winner
TSPA
+6.99%
6M
DFNM
+1.49%
Winner
TSPA
+11.27%
1Y
DFNM
+5.07%
Winner
TSPA
+32.17%
5Y(CAGR)
DFNM
+1.40%
Winner
TSPA
+14.33%
Max(CAGR)
DFNM
+1.40%
Winner
TSPA
+14.33%
DFNM vs TSPA - Annual Returns (2021 - 2026)
Returns include dividend reinvestment.
| Year | DFNM | TSPA |
|---|---|---|
| 2026 | +0.97% | +8.86% |
| 2025 | +3.78% | +16.49% |
| 2024 | +1.36% | +27.28% |
| 2023 | +3.88% | +30.41% |
| 2022 | -3.96% | -19.11% |
| 2021 | +0.47% | +13.72% |
DFNM vs TSPA Drawdown Comparison
The maximum drawdown for DFNM was -6.99%, occurring on Oct 31, 2022. Recovery took 637 trading sessions.
The maximum drawdown for TSPA was -24.72%, occurring on Oct 12, 2022. Recovery took 478 trading sessions.
The current DFNM drawdown is -0.67%.
| Rank | DFNM | TSPA |
|---|---|---|
| #1 | -6.99% Dec 30, 2021 - Jul 16, 2024 | -24.72% Dec 29, 2021 - Nov 22, 2023 |
| #2 | -2.79% Mar 3, 2025 - Sep 4, 2025 | -19.04% Feb 19, 2025 - Jun 27, 2025 |
| #3 | -1.84% Feb 27, 2026 - Mar 26, 2026 | -9.24% Jan 29, 2026 - Apr 14, 2026 |
| #4 | -1.41% Oct 2, 2024 - Dec 2, 2024 | -8.90% Jul 16, 2024 - Sep 19, 2024 |
| #5 | -1.33% Dec 6, 2024 - Feb 25, 2025 | -5.49% Mar 28, 2024 - May 14, 2024 |
| #6 | -0.43% Aug 5, 2024 - Sep 3, 2024 | -5.40% Oct 29, 2025 - Dec 11, 2025 |
| #7 | -0.24% Sep 22, 2025 - Oct 8, 2025 | -4.78% Aug 30, 2021 - Oct 19, 2021 |
| #8 | -0.21% Nov 11, 2025 - Nov 20, 2025 | -4.16% Nov 16, 2021 - Dec 23, 2021 |
| #9 | -0.20% Nov 30, 2021 - Dec 20, 2021 | -3.91% Dec 6, 2024 - Jan 22, 2025 |
| #10 | -0.19% Oct 22, 2025 - Nov 11, 2025 | -2.97% Oct 8, 2025 - Oct 24, 2025 |
| #11 | -0.18% Jan 16, 2026 - Jan 28, 2026 | -2.82% Jul 12, 2021 - Jul 23, 2021 |
| #12 | -0.13% Jul 30, 2024 - Aug 1, 2024 | -2.77% Dec 11, 2025 - Dec 23, 2025 |
| #13 | -0.13% Sep 17, 2024 - Sep 25, 2024 | -2.64% Oct 14, 2024 - Nov 6, 2024 |
| #14 | -0.12% Jul 18, 2024 - Jul 30, 2024 | -2.59% Jan 12, 2026 - Jan 27, 2026 |
| #15 | -0.12% Dec 1, 2025 - Dec 15, 2025 | -2.36% Nov 11, 2024 - Nov 26, 2024 |
Correlation
Correlation between DFNM and TSPA is 0.95 which considered as a very strong positive correlation - the stocks move almost identically together.
0.95
-101
Dividend Comparison (2021 - 2026)
DFNM vs TSPA dividend yield comparison.
| Year | DFNM | TSPA |
|---|---|---|
| 2026 | 0.78% | 0.00% |
| 2025 | 2.94% | 0.62% |
| 2024 | 2.74% | 0.50% |
| 2023 | 2.39% | 0.41% |
| 2022 | 1.16% | 1.16% |
| 2021 | 0.05% | 0.43% |
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