DCSVX vs. NSDVX

Last updated Aug 4, 2026

DCSVX (Dunham Small Cap Value Fund) and NSDVX (North Star Dividend Fund) are both Small Cap Value Equities funds. Over the past 10 years, DCSVX returned 7.36%/yr vs 7.16%/yr for NSDVX. Their correlation of 0.85 means they have usually moved in the same direction. DCSVX charges 2.05%/yr vs 1.37%/yr for NSDVX.

Performance

DCSVX vs. NSDVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dunham Small Cap Value Fund (DCSVX) and North Star Dividend Fund (NSDVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DCSVX having a 21.97% return and NSDVX slightly higher at 22.08%. Both investments have delivered pretty close results over the past 10 years, with DCSVX having a 7.36% annualized return and NSDVX not far behind at 7.16%.

DCSVX

• 1D: 0.28%
• 1M: -0.91%
• 6M: 12.62%
• YTD: 21.97%
• 1Y: 38.88%
• 3Y*: 8.19%
• 5Y*: 5.39%
• 10Y*: 7.36%
• ALL TIME*: 5.23%

NSDVX

• 1D: -0.54%
• 1M: 0.07%
• 6M: 13.21%
• YTD: 22.08%
• 1Y: 28.73%
• 3Y*: 10.76%
• 5Y*: 5.81%
• 10Y*: 7.16%
• ALL TIME*: 8.05%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DCSVX Dunham Small Cap Value Fund	$0.00	$0.00	$0.00
NSDVX North Star Dividend Fund	$0.00	$0.00	$0.00

DCSVX vs. NSDVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DCSVX Dunham Small Cap Value Fund	21.97%	8.67%	-8.49%	14.23%	-13.01%	31.15%	-3.67%	20.13%	-12.04%	7.93%
NSDVX North Star Dividend Fund	22.08%	-1.31%	9.25%	8.06%	-6.36%	16.16%	6.51%	16.13%	-12.35%	8.27%

Correlation

The correlation between DCSVX and NSDVX is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.84
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (10Y) Provides a long-term view across more market conditions.	0.86
Correlation (All Time) Calculated using the full available price history since May 31, 2013	0.85

The correlation between DCSVX and NSDVX has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.

Return for Risk

DCSVX vs. NSDVX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DCSVX

DCSVX Risk / Return Rank: 86
DCSVX Sharpe Ratio Rank: 87
DCSVX Sortino Ratio Rank: 85
DCSVX Omega Ratio Rank: 80
DCSVX Calmar Ratio Rank: 89
DCSVX Martin Ratio Rank: 90

NSDVX

NSDVX Risk / Return Rank: 70
NSDVX Sharpe Ratio Rank: 75
NSDVX Sortino Ratio Rank: 78
NSDVX Omega Ratio Rank: 70
NSDVX Calmar Ratio Rank: 75
NSDVX Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DCSVX vs. NSDVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dunham Small Cap Value Fund (DCSVX) and North Star Dividend Fund (NSDVX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DCSVX	NSDVX	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.82	+0.35
Sortino ratio: Return per unit of downside risk	3.09	2.76	+0.33
Omega ratio: Gain probability vs. loss probability	1.38	1.32	+0.06
Calmar ratio: Return relative to maximum drawdown	3.43	2.54	+0.89
Martin ratio: Return relative to average drawdown	13.04	7.60	+5.44

DCSVX vs. NSDVX - Sharpe Ratio Comparison

The current DCSVX Sharpe Ratio is 2.16, which is comparable to the NSDVX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of DCSVX and NSDVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DCSVX vs. NSDVX - Drawdown Comparison

The maximum DCSVX drawdown since its inception was -62.83%, which is greater than NSDVX's maximum drawdown of -38.64%. Use the drawdown chart below to compare losses from any high point for DCSVX and NSDVX.

Drawdown Indicators

	DCSVX	NSDVX	Difference
Max Drawdown Largest peak-to-trough decline	-62.83%	-38.64%	-24.19%
Max Drawdown (1Y) Largest decline over 1 year	-10.55%	-10.48%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-37.13%	-16.41%	-20.72%
Max Drawdown (5Y) Largest decline over 5 years	-37.13%	-21.27%	-15.86%
Max Drawdown (10Y) Largest decline over 10 years	-46.71%	-38.64%	-8.07%
Current Drawdown Current decline from peak	-2.35%	-2.21%	-0.14%
Average Drawdown Average peak-to-trough decline	-11.78%	-6.48%	-5.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	3.50%	-0.73%

Volatility

DCSVX vs. NSDVX - Volatility Comparison

Dunham Small Cap Value Fund (DCSVX) and North Star Dividend Fund (NSDVX) have volatilities of 3.64% and 3.73%, 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

	DCSVX	NSDVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	3.73%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	11.47%	9.54%	+1.93%
Volatility (1Y) Calculated over the trailing 1-year period	16.73%	14.68%	+2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.31%	16.02%	+5.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.30%	17.75%	+5.55%

DCSVX vs. NSDVX - Expense Ratio Comparison

DCSVX has a 2.05% expense ratio, which is higher than NSDVX's 1.37% expense ratio.

Dividends

DCSVX vs. NSDVX - Dividend Comparison

DCSVX's dividend yield for the trailing twelve months is around 6.12%, more than NSDVX's 2.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DCSVX Dunham Small Cap Value Fund	6.12%	7.47%	0.00%	3.00%	10.28%	13.90%	0.21%	0.00%	15.82%	12.82%	3.28%	3.92%
NSDVX North Star Dividend Fund	2.75%	3.45%	7.00%	2.52%	6.57%	3.31%	1.52%	2.64%	6.87%	2.48%	4.67%	3.51%

Frequently Asked Questions

Can I hold both DCSVX and NSDVX in my portfolio?

DCSVX and NSDVX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DCSVX or NSDVX?

NSDVX has higher volatility (3.73%) compared to DCSVX (3.64%). In terms of maximum drawdown, DCSVX dropped -62.83% vs NSDVX's -38.64%.

Which has better risk-adjusted returns?

DCSVX currently has the higher Sharpe Ratio (2.16 vs 1.82), 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.