DCSVX vs. VTI

Last updated Jun 24, 2026

DCSVX (Dunham Small Cap Value Fund) and VTI (Vanguard Total Stock Market ETF) are both funds - DCSVX is a Small Cap Value Equities fund managed by Dunham, while VTI is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index. Over the past 10 years, DCSVX returned 7.95%/yr vs 15.14%/yr for VTI. Their correlation of 0.85 suggests significant overlap in exposure. DCSVX charges 2.05%/yr vs 0.03%/yr for VTI.

Performance

DCSVX vs. VTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dunham Small Cap Value Fund (DCSVX) and Vanguard Total Stock Market ETF (VTI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DCSVX achieves a 20.85% return, which is significantly higher than VTI's 8.82% return. Over the past 10 years, DCSVX has underperformed VTI with an annualized return of 7.95%, while VTI has yielded a comparatively higher 15.14% annualized return.

DCSVX

• 1D: -0.21%
• 1M: 4.02%
• YTD: 20.85%
• 6M: 19.22%
• 1Y: 39.13%
• 3Y*: 11.77%
• 5Y*: 4.69%
• 10Y*: 7.95%

VTI

• 1D: -1.39%
• 1M: -0.84%
• YTD: 8.82%
• 6M: 7.71%
• 1Y: 24.22%
• 3Y*: 20.62%
• 5Y*: 11.90%
• 10Y*: 15.14%

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

DCSVX vs. VTI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DCSVX Dunham Small Cap Value Fund	20.85%	8.67%	-8.49%	14.23%	-13.01%	31.15%	-3.67%	20.13%	-12.04%	7.93%
VTI Vanguard Total Stock Market ETF	8.82%	17.10%	23.81%	26.05%	-19.52%	25.68%	21.08%	30.67%	-5.23%	21.21%

Correlation

The correlation between DCSVX and VTI is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Dec 10, 2004	0.85

The correlation between DCSVX and VTI shifts across timeframes, from 0.74 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DCSVX vs. VTI — Risk / Return Rank

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

DCSVX

DCSVX Risk / Return Rank: 77
DCSVX Sharpe Ratio Rank: 78
DCSVX Sortino Ratio Rank: 76
DCSVX Omega Ratio Rank: 64
DCSVX Calmar Ratio Rank: 85
DCSVX Martin Ratio Rank: 82

VTI

VTI Risk / Return Rank: 59
VTI Sharpe Ratio Rank: 58
VTI Sortino Ratio Rank: 56
VTI Omega Ratio Rank: 57
VTI Calmar Ratio Rank: 57
VTI Martin Ratio Rank: 68

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.

DCSVX vs. VTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dunham Small Cap Value Fund (DCSVX) and Vanguard Total Stock Market ETF (VTI). 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	VTI	Difference
Sharpe ratio: Return per unit of total volatility	2.38	1.90	+0.48
Sortino ratio: Return per unit of downside risk	3.34	2.59	+0.75
Omega ratio: Gain probability vs. loss probability	1.41	1.34	+0.07
Calmar ratio: Return relative to maximum drawdown	3.86	2.73	+1.14
Martin ratio: Return relative to average drawdown	14.30	12.14	+2.16

DCSVX vs. VTI - Sharpe Ratio Comparison

The current DCSVX Sharpe Ratio is 2.38, which is comparable to the VTI Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of DCSVX and VTI, 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. VTI - Drawdown Comparison

The maximum DCSVX drawdown since its inception was -62.83%, which is greater than VTI's maximum drawdown of -55.45%. Use the drawdown chart below to compare losses from any high point for DCSVX and VTI.

Drawdown Indicators

	DCSVX	VTI	Difference
Max Drawdown Largest peak-to-trough decline	-62.83%	-55.45%	-7.38%
Max Drawdown (1Y) Largest decline over 1 year	-10.55%	-8.92%	-1.63%
Max Drawdown (3Y) Largest decline over 3 years	-37.13%	-19.30%	-17.83%
Max Drawdown (5Y) Largest decline over 5 years	-37.13%	-25.36%	-11.77%
Max Drawdown (10Y) Largest decline over 10 years	-46.71%	-35.00%	-11.71%
Current Drawdown Current decline from peak	-0.71%	-2.85%	+2.14%
Average Drawdown Average peak-to-trough decline	-11.83%	-8.01%	-3.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	2.00%	+0.84%

Volatility

DCSVX vs. VTI - Volatility Comparison

The current volatility for Dunham Small Cap Value Fund (DCSVX) is 4.31%, while Vanguard Total Stock Market ETF (VTI) has a volatility of 4.95%. This indicates that DCSVX experiences smaller price fluctuations and is considered to be less risky than VTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DCSVX	VTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	4.95%	-0.64%
Volatility (6M) Calculated over the trailing 6-month period	11.83%	10.05%	+1.78%
Volatility (1Y) Calculated over the trailing 1-year period	17.14%	12.83%	+4.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.47%	17.51%	+3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.39%	18.32%	+5.07%

DCSVX vs. VTI - Expense Ratio Comparison

DCSVX has a 2.05% expense ratio, which is higher than VTI's 0.03% expense ratio.

Dividends

DCSVX vs. VTI - Dividend Comparison

DCSVX's dividend yield for the trailing twelve months is around 6.18%, more than VTI's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DCSVX Dunham Small Cap Value Fund	6.18%	7.47%	0.00%	3.00%	10.28%	13.90%	0.21%	0.00%	15.82%	12.82%	3.28%	3.92%
VTI Vanguard Total Stock Market ETF	1.04%	1.12%	1.27%	1.44%	1.66%	1.21%	1.42%	1.78%	2.04%	1.71%	1.92%	1.98%

Frequently Asked Questions

Can I hold both DCSVX and VTI in my portfolio?

DCSVX and VTI have a correlation of 0.74, 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 VTI?

VTI has higher volatility (4.95%) compared to DCSVX (4.31%). In terms of maximum drawdown, DCSVX dropped -62.83% vs VTI's -55.45%.

Which has better risk-adjusted returns?

DCSVX currently has the higher Sharpe Ratio (2.38 vs 1.90), 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.