Fund Evaluator:
DFA Oregon Municipal Bond Instl (DOGMX)
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Best Performing in Muni Single State Short Over the Last Year
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Fund Details
DFA Oregon Municipal Bond Instl Overview
DFA Oregon Municipal Bond Instl (DOGMX) is an actively managed Municipal Bond Muni Single State Short fund. Dimensional Fund Advisors launched the fund in 2019.
The investment seeks to provide current income that is expected to be exempt from federal personal income taxes and Oregon state personal income taxes. As a fundamental investment policy, under normal market conditions, the Portfolio will invest at least 80% of its net assets in municipal securities that pay interest exempt from federal personal income tax and the Oregon state personal income tax. The adviser does not currently intend to invest its assets in municipal securities whose interest is subject to the federal alternative minimum tax. It is non-diversified.
About DFA Oregon Municipal Bond Instl (DOGMX)
There are 3 members of the management team with an average tenure of 6.98 years: David Plecha (2019), Travis Meldau (2019), Joseph Kolerich (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P Interm National AMT Free Muni TR USD index with a weighting of 100% and S&P National AMT Free Muni TR USD index with a weighting of 100%. DFA Oregon Municipal Bond Instl has 159 securities in its portfolio. The top 10 holdings constitute 19.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
DFA Oregon Municipal Bond Instl is part of the Fixed Income global asset class and is within the Municipal Bond fund group. DFA Oregon Municipal Bond Instl has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.8% (98.8% domestic bond, 0.0% foreign bond and 0.0% convertible bond). DFA Oregon Municipal Bond Instl has 1.2% of the portfolio in cash.
Assets Under Management
The fund has $95 million in total assets, which is below the $241 million average for the Muni Single State Short category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DOGMX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The DFA Oregon Municipal Bond Instl expense ratio is below average compared to funds in the Muni Single State Short category. DFA Oregon Municipal Bond Instl has an expense ratio of 0.25%, which is 62% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. DFA Oregon Municipal Bond Instl has a portfolio turnover rate of 28%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 44% for the Muni Single State Short category.
Recently, in the month of August 2026, DFA Oregon Municipal Bond Instl returned 0.0%, which earned it a grade of D, as the Muni Single State Short category had an average return of 0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
DFA Oregon Municipal Bond Instl has a trailing yield of 2.52%, which is below the 2.95% category average. The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
DFA Oregon Municipal Bond Instl Grades
Year to date, the fund has returned 0.4%, 0.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.5% over the past year (grade of C), 2.7% over the past three years (grade of F) and 0.8% per year over the past five years (grade of F).
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DOGMX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DOGMX Return (NAV) | 0.0% | -0.6% | 2.5% | 2.7% | 0.8% | na |
| DOGMX Grade | D | D | C | F | F | na |
| +/- Category | -0.1% | -0.4% | -0.3% | -0.4% | -0.4% | na |
| Muni Single State Short Avg | 0.2% | -0.1% | 2.8% | 3.1% | 1.2% | 1.5% |
| DOGMX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | na |
DOGMX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DOGMX Return (NAV) | 0.4% | 3.8% | 1.3% | 3.2% | -4.2% | -0.4% | 3.1% | na | na | na | na |
| DOGMX Grade | F | C | F | F | B | F | B | na | na | na | na |
| +/- Category | -0.4% | -0.1% | -0.9% | -0.7% | 0.2% | -1.1% | 0.7% | na | na | na | na |
| Muni Single State Short Avg | 0.8% | 3.9% | 2.2% | 3.9% | -4.4% | 0.7% | 2.3% | 4.5% | 3.7% | 0.2% | 0.4% |
| Risk Measures | |
| Standard Deviation: | 2.8% |
| Total Risk Index: | 0.23 - Low |
| Category Risk Index: | 1.04 - Below Average |
| Category Risk Grade: | B (38% Rank) |
| Beta: | 0.48 |
| R-Squared: | 96% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 2.5% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $95 Mil |
| Fund Total Assets: | $ 96 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 28% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 7.0 years | |||
| Average Tenure: 7.0 years | |||
| Managers (Year): Plecha David (2019), Meldau Travis (2019), Kolerich Joseph (2019) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 159 |
| % in Top 10 Holdings: | 19.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 98.8% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.2% |
Purchase Information
| Fund Family: | Dimensional Fund Advisors |
| Phone Number: | 888-576-1167 |
| Website: | www.dimensional.com |
| Status: | Open |
| Inception Date: | September 10, 2019 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.25% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.65% |
| Share Class: | DFA Oregon Municipal Bond Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
