DEOPX vs. DBALX

Last updated Jun 25, 2026

DEOPX (Davenport Equity Opportunities Fund) and DBALX (Davenport Balanced Income Fund) are both mutual funds - DEOPX is a Mid Cap Blend Equities fund managed by Davenport, while DBALX is a Diversified Portfolio fund managed by Davenport. Over the past 10 years, DEOPX returned 10.50%/yr vs 5.88%/yr for DBALX. Their correlation of 0.85 suggests significant overlap in exposure. DEOPX charges 0.88%/yr vs 0.93%/yr for DBALX.

Performance

DEOPX vs. DBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Davenport Equity Opportunities Fund (DEOPX) and Davenport Balanced Income Fund (DBALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEOPX achieves a 2.42% return, which is significantly lower than DBALX's 3.33% return. Over the past 10 years, DEOPX has outperformed DBALX with an annualized return of 10.50%, while DBALX has yielded a comparatively lower 5.88% annualized return.

DEOPX

• 1D: -0.25%
• 1M: 2.86%
• YTD: 2.42%
• 6M: 1.03%
• 1Y: -1.99%
• 3Y*: 8.13%
• 5Y*: 3.90%
• 10Y*: 10.50%

DBALX

• 1D: 0.15%
• 1M: -0.50%
• YTD: 3.33%
• 6M: 3.01%
• 1Y: 8.45%
• 3Y*: 8.99%
• 5Y*: 4.34%
• 10Y*: 5.88%

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

DEOPX vs. DBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEOPX Davenport Equity Opportunities Fund	2.42%	-2.60%	9.72%	27.73%	-23.09%	26.32%	21.37%	39.85%	-8.01%	20.79%
DBALX Davenport Balanced Income Fund	3.33%	9.88%	7.98%	7.81%	-11.01%	14.19%	3.54%	18.55%	-8.16%	11.11%

Correlation

The correlation between DEOPX and DBALX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.85

The correlation between DEOPX and DBALX has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.

Return for Risk

DEOPX vs. DBALX — Risk / Return Rank

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

DEOPX

DEOPX Risk / Return Rank: 3
DEOPX Sharpe Ratio Rank: 3
DEOPX Sortino Ratio Rank: 3
DEOPX Omega Ratio Rank: 3
DEOPX Calmar Ratio Rank: 3
DEOPX Martin Ratio Rank: 3

DBALX

DBALX Risk / Return Rank: 29
DBALX Sharpe Ratio Rank: 30
DBALX Sortino Ratio Rank: 32
DBALX Omega Ratio Rank: 28
DBALX Calmar Ratio Rank: 28
DBALX Martin Ratio Rank: 29

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.

DEOPX vs. DBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Davenport Equity Opportunities Fund (DEOPX) and Davenport Balanced Income Fund (DBALX). 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.

	DEOPX	DBALX	Difference
Sharpe ratio: Return per unit of total volatility	-0.06	1.36	-1.42
Sortino ratio: Return per unit of downside risk	0.03	2.04	-2.02
Omega ratio: Gain probability vs. loss probability	1.00	1.24	-0.24
Calmar ratio: Return relative to maximum drawdown	-0.07	1.73	-1.79
Martin ratio: Return relative to average drawdown	-0.14	5.91	-6.05

DEOPX vs. DBALX - Sharpe Ratio Comparison

The current DEOPX Sharpe Ratio is -0.06, which is lower than the DBALX Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of DEOPX and DBALX, 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

DEOPX vs. DBALX - Drawdown Comparison

The maximum DEOPX drawdown since its inception was -37.76%, which is greater than DBALX's maximum drawdown of -27.89%. Use the drawdown chart below to compare losses from any high point for DEOPX and DBALX.

Drawdown Indicators

	DEOPX	DBALX	Difference
Max Drawdown Largest peak-to-trough decline	-37.76%	-27.89%	-9.87%
Max Drawdown (1Y) Largest decline over 1 year	-13.94%	-5.15%	-8.79%
Max Drawdown (3Y) Largest decline over 3 years	-20.22%	-8.08%	-12.14%
Max Drawdown (5Y) Largest decline over 5 years	-30.22%	-15.41%	-14.81%
Max Drawdown (10Y) Largest decline over 10 years	-37.76%	-27.89%	-9.87%
Current Drawdown Current decline from peak	-7.98%	-1.75%	-6.23%
Average Drawdown Average peak-to-trough decline	-6.24%	-3.63%	-2.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.56%	1.50%	+5.06%

Volatility

DEOPX vs. DBALX - Volatility Comparison

Davenport Equity Opportunities Fund (DEOPX) has a higher volatility of 4.74% compared to Davenport Balanced Income Fund (DBALX) at 2.21%. This indicates that DEOPX's price experiences larger fluctuations and is considered to be riskier than DBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEOPX	DBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	2.21%	+2.53%
Volatility (6M) Calculated over the trailing 6-month period	11.45%	4.98%	+6.47%
Volatility (1Y) Calculated over the trailing 1-year period	15.51%	6.54%	+8.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.02%	8.57%	+10.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.28%	9.95%	+9.33%

DEOPX vs. DBALX - Expense Ratio Comparison

DEOPX has a 0.88% expense ratio, which is lower than DBALX's 0.93% expense ratio.

Dividends

DEOPX vs. DBALX - Dividend Comparison

DEOPX's dividend yield for the trailing twelve months is around 3.44%, less than DBALX's 5.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBALX Davenport Balanced Income Fund	5.38%	5.28%	3.73%	2.19%	4.24%	1.59%	2.00%	2.73%	2.03%	2.37%	1.04%	0.00%
DEOPX Davenport Equity Opportunities Fund	3.44%	3.01%	0.09%	4.85%	8.78%	10.45%	10.39%	4.26%	4.11%	0.00%	1.26%	5.20%

Frequently Asked Questions

Can I hold both DEOPX and DBALX in my portfolio?

DEOPX and DBALX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DEOPX or DBALX?

DEOPX has higher volatility (4.74%) compared to DBALX (2.21%). In terms of maximum drawdown, DEOPX dropped -37.76% vs DBALX's -27.89%.

Which has better risk-adjusted returns?

DBALX currently has the higher Sharpe Ratio (1.36 vs -0.06), 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.