DCLVX vs. FLCSX

Last updated Jun 3, 2026

DCLVX (Dunham Large Cap Value Fund) and FLCSX (Fidelity Large Cap Stock Fund) are both Large Cap Value Equities funds. Over the past 10 years, DCLVX returned 9.46%/yr vs 15.34%/yr for FLCSX. Their correlation of 0.94 suggests significant overlap in exposure. DCLVX charges 2.10%/yr vs 0.54%/yr for FLCSX.

Performance

DCLVX vs. FLCSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dunham Large Cap Value Fund (DCLVX) and Fidelity Large Cap Stock Fund (FLCSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DCLVX achieves a 9.14% return, which is significantly lower than FLCSX's 10.03% return. Over the past 10 years, DCLVX has underperformed FLCSX with an annualized return of 9.46%, while FLCSX has yielded a comparatively higher 15.34% annualized return.

DCLVX

• 1D: -0.37%
• 1M: 1.89%
• YTD: 9.14%
• 6M: 11.45%
• 1Y: 25.26%
• 3Y*: 14.50%
• 5Y*: 8.14%
• 10Y*: 9.46%

FLCSX

• 1D: 0.29%
• 1M: 2.88%
• YTD: 10.03%
• 6M: 12.49%
• 1Y: 31.84%
• 3Y*: 25.55%
• 5Y*: 15.95%
• 10Y*: 15.34%

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

DCLVX vs. FLCSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DCLVX Dunham Large Cap Value Fund	9.14%	16.84%	9.49%	8.41%	-9.05%	27.52%	1.41%	24.85%	-9.78%	14.06%
FLCSX Fidelity Large Cap Stock Fund	10.03%	27.49%	26.31%	23.51%	-8.02%	25.80%	9.05%	31.59%	-13.62%	17.86%

Correlation

The correlation between DCLVX and FLCSX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 13, 2004	0.94

The correlation between DCLVX and FLCSX shifts across timeframes, from 0.82 (1 year) to 0.94 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DCLVX vs. FLCSX — Risk / Return Rank

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

DCLVX

DCLVX Risk / Return Rank: 69
DCLVX Sharpe Ratio Rank: 67
DCLVX Sortino Ratio Rank: 65
DCLVX Omega Ratio Rank: 59
DCLVX Calmar Ratio Rank: 76
DCLVX Martin Ratio Rank: 79

FLCSX

FLCSX Risk / Return Rank: 79
FLCSX Sharpe Ratio Rank: 83
FLCSX Sortino Ratio Rank: 78
FLCSX Omega Ratio Rank: 75
FLCSX Calmar Ratio Rank: 75
FLCSX Martin Ratio Rank: 83

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.

DCLVX vs. FLCSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dunham Large Cap Value Fund (DCLVX) and Fidelity Large Cap Stock Fund (FLCSX). 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.

	DCLVX	FLCSX	Difference
Sharpe ratio Return per unit of total volatility	2.41	2.70	-0.29
Sortino ratio Return per unit of downside risk	3.36	3.70	-0.34
Omega ratio Gain probability vs. loss probability	1.43	1.49	-0.06
Calmar ratio Return relative to maximum drawdown	3.46	3.42	+0.04
Martin ratio Return relative to average drawdown	14.97	15.68	-0.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DCLVX vs. FLCSX - Sharpe Ratio Comparison

The current DCLVX Sharpe Ratio is 2.41, which is comparable to the FLCSX Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of DCLVX and FLCSX, 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

	DCLVX	FLCSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	2.70	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.95	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.83	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.50	-0.16

Drawdowns

DCLVX vs. FLCSX - Drawdown Comparison

The maximum DCLVX drawdown since its inception was -58.91%, smaller than the maximum FLCSX drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for DCLVX and FLCSX.

Drawdown Indicators

	DCLVX	FLCSX	Difference
Max Drawdown Largest peak-to-trough decline	-58.91%	-63.67%	+4.76%
Max Drawdown (1Y) Largest decline over 1 year	-7.44%	-9.55%	+2.11%
Max Drawdown (3Y) Largest decline over 3 years	-20.02%	-18.82%	-1.20%
Max Drawdown (5Y) Largest decline over 5 years	-20.16%	-21.69%	+1.53%
Max Drawdown (10Y) Largest decline over 10 years	-36.96%	-37.11%	+0.15%
Current Drawdown Current decline from peak	-0.73%	0.00%	-0.73%
Average Drawdown Average peak-to-trough decline	-9.60%	-13.82%	+4.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	2.08%	-0.36%

Volatility

DCLVX vs. FLCSX - Volatility Comparison

Dunham Large Cap Value Fund (DCLVX) and Fidelity Large Cap Stock Fund (FLCSX) have volatilities of 2.92% and 2.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DCLVX	FLCSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	2.87%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	8.16%	9.31%	-1.15%
Volatility (1Y) Calculated over the trailing 1-year period	10.69%	12.21%	-1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.82%	16.85%	-2.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.08%	18.66%	-1.58%

DCLVX vs. FLCSX - Expense Ratio Comparison

DCLVX has a 2.10% expense ratio, which is higher than FLCSX's 0.54% expense ratio.

Dividends

DCLVX vs. FLCSX - Dividend Comparison

DCLVX's dividend yield for the trailing twelve months is around 4.39%, less than FLCSX's 5.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DCLVX Dunham Large Cap Value Fund	4.39%	4.80%	0.00%	5.01%	2.30%	6.51%	0.31%	2.88%	4.61%	1.15%	0.95%	36.28%
FLCSX Fidelity Large Cap Stock Fund	5.90%	6.50%	4.26%	2.83%	3.07%	4.71%	3.93%	5.43%	7.63%	3.25%	3.61%	4.55%

Frequently Asked Questions

Can I hold both DCLVX and FLCSX in my portfolio?

DCLVX and FLCSX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DCLVX or FLCSX?

DCLVX has higher volatility (2.92%) compared to FLCSX (2.87%). In terms of maximum drawdown, DCLVX dropped -58.91% vs FLCSX's -63.67%.

Which has better risk-adjusted returns?

FLCSX currently has the higher Sharpe Ratio (2.70 vs 2.40), 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.