DFNM vs VTEB
Dimensional National Municipal Bond ETF compared with Vanguard Tax-Exempt Bond Index Fund ETF Shares on yield, payout growth, payment schedule, cost and risk.
DFNM
Dimensional National Municipal Bond ETF
TTM yield · Monthly
VTEB
Vanguard Tax-Exempt Bond Index Fund ETF Shares
TTM yield · Monthly
Quick take
- VTEB yields more today: 3.50% vs 3.03% (forward).
- Both pay every month.
- Over the last year VTEB delivered the higher total return: +0.3% vs +0.2% (price change plus payouts).
- VTEB is cheaper to own: 0.03% vs 0.17% expense ratio.
- VTEB has the steadier distribution: consistency 98/100 vs 68/100.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | DFNM | VTEB |
|---|---|---|
| Share price | $46.67 | $48.51 |
| TTM yield | 3.06% | 3.50% |
| Forward yield | 3.03% | 3.50% |
| Annual payout per share | $1.4133 | $1.699 |
| Payment frequency | Monthly | Monthly |
| Next ex-date | Nov 17, 2026 (est.) | Oct 31, 2026 (est.) |
| Expense ratio | 0.17% | 0.03% |
| 1-year payout growth | — | — |
| 5-year payout CAGR | — | — |
| Consecutive years of increases | — | — |
| Payout consistency (last 12) | 68/100 | 98/100 |
| 1-year total return | +0.2% | +0.3% |
| 1-year price return | -2.7% | -3.1% |
| Size (market cap / AUM) | 2.2B | 51.7B |
| Years paying | 4.8 | 11.1 |
| Sector / category | Muni National Interm | Muni National Interm |
✓ marks the more favourable figure where one exists (higher yield, growth, streak, consistency, return and size; lower cost, payout ratio and risk).
$10,000 invested today
| DFNM | VTEB | |
|---|---|---|
| Shares | 214.3 | 206.1 |
| Income per year | $303 | $350 |
| Income per month (avg) | $25 | $29 |
At forward yields, before taxes. Model DFNM · Model VTEB
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| DFNM Nov 17, 2026 | Dec 1, 2026 | $0.1178 | Est. |
| DFNM Dec 15, 2026 | Dec 29, 2026 | $0.1178 | Est. |
| DFNM Jan 12, 2027 | Jan 26, 2027 | $0.1178 | Est. |
| VTEB Oct 31, 2026 | Nov 14, 2026 | $0.1416 | Est. |
| VTEB Nov 30, 2026 | Dec 14, 2026 | $0.1416 | Est. |
| VTEB Dec 30, 2026 | Jan 13, 2027 | $0.1416 | Est. |
Annual payouts per share
DFNMVTEB
Regular payments only; the current year is year to date. Per-share amounts are not directly comparable when share prices differ, so read this chart for growth trends.
FAQ
Which has the higher dividend yield, DFNM or VTEB?
VTEB currently has the higher trailing yield: DFNM yields 3.06% and VTEB yields 3.50%. Yield changes daily with price, so check the live figures above.
How often do DFNM and VTEB pay?
DFNM pays every month and VTEB pays every month. DFNM's next ex-date is Nov 17, 2026 and VTEB's is Oct 31, 2026.
Is DFNM or VTEB better for income?
It depends on what you are optimising for. DFNM and VTEB differ in yield, growth, payment schedule and risk profile; the table above puts every metric side by side so you can weigh them for your own goals. This page is data, not advice.