CDGRX vs. CSMDX

Last updated Jun 4, 2026

CDGRX (Copeland Dividend Growth Fund) and CSMDX (Copeland SMID Cap Dividend Growth Fund) are both mutual funds - CDGRX is a Diversified Portfolio fund managed by Copeland Funds, while CSMDX is a Small Cap Blend Equities fund managed by Copeland Funds. Over the past 5 years, CDGRX returned 7.45%/yr vs 5.03%/yr for CSMDX. Their correlation of 0.90 suggests significant overlap in exposure. CDGRX charges 1.20%/yr vs 0.95%/yr for CSMDX.

Performance

CDGRX vs. CSMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Copeland Dividend Growth Fund (CDGRX) and Copeland SMID Cap Dividend Growth Fund (CSMDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CDGRX achieves a 4.92% return, which is significantly lower than CSMDX's 11.73% return.

CDGRX

• 1D: 0.47%
• 1M: 1.19%
• YTD: 4.92%
• 6M: 5.22%
• 1Y: 12.86%
• 3Y*: 11.91%
• 5Y*: 7.45%
• 10Y*: 11.11%

CSMDX

• 1D: 0.53%
• 1M: 2.59%
• YTD: 11.73%
• 6M: 10.42%
• 1Y: 16.91%
• 3Y*: 8.52%
• 5Y*: 5.03%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CDGRX vs. CSMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CDGRX Copeland Dividend Growth Fund	4.92%	8.70%	9.79%	18.80%	-14.83%	26.29%	3.69%	42.03%	0.22%	12.42%
CSMDX Copeland SMID Cap Dividend Growth Fund	11.73%	2.72%	2.24%	18.89%	-14.89%	22.60%	8.29%	29.90%	-5.20%	10.44%

Correlation

The correlation between CDGRX and CSMDX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Feb 28, 2017	0.90

The correlation between CDGRX and CSMDX has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.

Return for Risk

CDGRX vs. CSMDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CDGRX

CDGRX Risk / Return Rank: 20
CDGRX Sharpe Ratio Rank: 17
CDGRX Sortino Ratio Rank: 17
CDGRX Omega Ratio Rank: 16
CDGRX Calmar Ratio Rank: 20
CDGRX Martin Ratio Rank: 30

CSMDX

CSMDX Risk / Return Rank: 23
CSMDX Sharpe Ratio Rank: 20
CSMDX Sortino Ratio Rank: 22
CSMDX Omega Ratio Rank: 19
CSMDX Calmar Ratio Rank: 29
CSMDX Martin Ratio Rank: 25

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CDGRX vs. CSMDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Copeland Dividend Growth Fund (CDGRX) and Copeland SMID Cap Dividend Growth Fund (CSMDX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CDGRX	CSMDX	Difference
Sharpe ratio: Return per unit of total volatility	1.17	1.27	-0.10
Sortino ratio: Return per unit of downside risk	1.74	1.97	-0.23
Omega ratio: Gain probability vs. loss probability	1.21	1.22	-0.02
Calmar ratio: Return relative to maximum drawdown	1.63	2.00	-0.37
Martin ratio: Return relative to average drawdown	6.87	6.13	+0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CDGRX vs. CSMDX - Sharpe Ratio Comparison

The current CDGRX Sharpe Ratio is 1.17, which is comparable to the CSMDX Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of CDGRX and CSMDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CDGRX	CSMDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	1.27	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.28	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.45	+0.14

Drawdowns

CDGRX vs. CSMDX - Drawdown Comparison

The maximum CDGRX drawdown since its inception was -36.25%, roughly equal to the maximum CSMDX drawdown of -37.28%. Use the drawdown chart below to compare losses from any high point for CDGRX and CSMDX.

Drawdown Indicators

	CDGRX	CSMDX	Difference
Max Drawdown Largest peak-to-trough decline	-36.25%	-37.28%	+1.03%
Max Drawdown (1Y) Largest decline over 1 year	-8.37%	-9.20%	+0.83%
Max Drawdown (3Y) Largest decline over 3 years	-19.94%	-24.60%	+4.66%
Max Drawdown (5Y) Largest decline over 5 years	-22.21%	-24.60%	+2.39%
Max Drawdown (10Y) Largest decline over 10 years	-36.25%	—	—
Current Drawdown Current decline from peak	-0.16%	-0.53%	+0.37%
Average Drawdown Average peak-to-trough decline	-5.24%	-5.77%	+0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	3.00%	-1.02%

Volatility

CDGRX vs. CSMDX - Volatility Comparison

The current volatility for Copeland Dividend Growth Fund (CDGRX) is 2.98%, while Copeland SMID Cap Dividend Growth Fund (CSMDX) has a volatility of 3.70%. This indicates that CDGRX experiences smaller price fluctuations and is considered to be less risky than CSMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDGRX	CSMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.98%	3.70%	-0.72%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	10.24%	-1.28%
Volatility (1Y) Calculated over the trailing 1-year period	11.67%	14.46%	-2.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.50%	18.16%	-1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.78%	19.17%	-0.39%

CDGRX vs. CSMDX - Expense Ratio Comparison

CDGRX has a 1.20% expense ratio, which is higher than CSMDX's 0.95% expense ratio.

Dividends

CDGRX vs. CSMDX - Dividend Comparison

CDGRX's dividend yield for the trailing twelve months is around 8.91%, more than CSMDX's 2.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDGRX Copeland Dividend Growth Fund	8.91%	9.35%	13.93%	3.68%	7.00%	11.95%	0.00%	41.54%	8.40%	4.22%	3.79%	12.12%
CSMDX Copeland SMID Cap Dividend Growth Fund	2.81%	3.14%	1.33%	0.81%	4.07%	6.67%	0.38%	2.61%	4.40%	0.13%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CDGRX and CSMDX in my portfolio?

CDGRX and CSMDX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CDGRX or CSMDX?

CSMDX has higher volatility (3.70%) compared to CDGRX (2.98%). In terms of maximum drawdown, CDGRX dropped -36.25% vs CSMDX's -37.28%.

Which has better risk-adjusted returns?

CSMDX currently has the higher Sharpe Ratio (1.27 vs 1.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.