DFNM holdings

Computed by this site from the fund's SEC Form N-PORT filing; what the measure does not tell you · every fund in one table · hold it with other funds? X-ray the mix. Pricing: 0.11% at a quoted market price (level 1), one issuer country.

DFNM's largest investment is County OF Hudson NJ at 0.87% of net assets. School District OF Broward County FL and City OF Hoboken NJ follow; the three together are 2.4%. Ten companies are 6.03% of the fund; the other 1,190 share the rest. Among the 192 bond funds measured here, DFNM behaves like 538 holdings against a median of 236.4 — 2.3 times the median. Across 18 quarterly filings DFNM has become less concentrated: it behaved like 239.5 at 2022-01-31 and 509.9 at 2026-04-30. Between the 2026-01-31 and 2026-04-30 filings 86 positions were added and 68 dropped; 10.6% of the weight moved.

Each sentence is read from the fund's own SEC filing; the class median is computed across the comparable bond funds on this site. Nothing here is a view on the fund.

Between 2022-07-31 and 2026-04-30, DFNM went from behaving like 239.5 equally weighted positions to 509.9 — 113% more, while its top ten went from 11.59% to 6.53% of net assets. Read across the funds on the concentration-over-time table.

One row per filed reporting period, newest first, read from EDGAR. Quarterly because that is the public filing cadence. Rows marked * are published but held out of the comparison above; the methodology page says when and why.

The 15 largest of 1,200 positions in DFNM's Form N-PORT, weight as a share of net assets, securities-lending collateral excluded. Every position, every quarter: DFNM.csv.gz.

Monthly total returns from Item B.5 of DFNM's own filings, 54 months on record. Not computed here and not from a price feed.

Cross-checked against a series computed separately from prices: median difference — percentage points over 0 months, which is roughly the distributions. Every month with the filing it came from: DFNM.json · all funds.

1,129 positions became 1,147: 86 added (10.3% of the fund at the later date), 68 dropped (5.1% at the earlier date). Half the sum of all weight changes, a turnover proxy: 10.6%. Positions are matched on identifiers, so a security whose identifier changed shows as one drop and one add. Every filing of DFNM compared this way, as a feed: changes.xml · all funds: filings received.

New: HUDSON CNTY N J (0.87%), HOBOKEN N J (0.73%), DANBURY CONN (0.48%), UNIVERSITY HOUSTON TEX UNIV REVS (0.47%), CHARLOTTE-MECKLENBERG HOSP AUTH N C HEALTH CARE SYS REV (0.35%), ESSEX CNTY N J IMPT AUTH LEASE REV (0.33%). Gone: BEAUFORT CNTY S C SCH DIST (0.34%), HOBOKEN N J (0.30%), FORT BEND CNTY TEX (0.25%), BEAUFORT CNTY S C SCH DIST (0.22%), ROCHESTER N Y (0.22%), FORT WORTH TEX (0.20%).

99.86% debt, 0.14% short-term investment as filed; 0.1% carried at a quoted market price (fair-value level 1). Categories and levels are the filer's; what a low level-1 share does and does not mean is in the measure's page.

Every measured debt fund lined up by how many holdings it behaves like; these sit either side of DFNM (538). Same filings, same arithmetic. Position in this list says nothing about which fund is better.