DFMPX

About DFMPX

DFA Municipal Bond Portfolio Institutional Class is an actively managed mutual fund focused on generating current income that is exempt from federal personal income tax. The portfolio primarily invests in a diversified universe of investment‑grade municipal securities, emphasizing high credit quality and limited interest rate sensitivity to help manage volatility. It targets a short-to-intermediate profile, with characteristics such as a relatively low effective duration and an average credit rating in the high-quality range, aligning it with the national municipal bond market’s conservative segment. The fund allocates across multiple states and sectors—such as general obligation, transportation, utilities, and revenue-backed issuers—to broaden credit exposure and reduce idiosyncratic risk. With an institutional share class structure and a low expense profile, it is designed to provide tax-efficient income while maintaining disciplined risk controls typical of municipal strategies. Its role in the market is to serve investors seeking federally tax-exempt income, diversification from taxable fixed income, and exposure to essential public finance projects that support state and local infrastructure and services.