DIISX vs. DSPIX

Last updated Jun 23, 2026

DIISX (BNY Mellon International Stock Index Fund) and DSPIX (BNY Mellon Institutional S&P 500 Stock Index Fund) are both mutual funds - DIISX is a Foreign Large Cap Equities fund managed by BNY Mellon, while DSPIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, DIISX returned 8.39%/yr vs 15.00%/yr for DSPIX. A 0.61 correlation means they provide meaningful diversification when combined. DIISX charges 0.60%/yr vs 0.20%/yr for DSPIX.

Performance

DIISX vs. DSPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon International Stock Index Fund (DIISX) and BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DIISX having a 10.23% return and DSPIX slightly lower at 10.09%. Over the past 10 years, DIISX has underperformed DSPIX with an annualized return of 8.39%, while DSPIX has yielded a comparatively higher 15.00% annualized return.

DIISX

• 1D: 0.69%
• 1M: 1.74%
• YTD: 10.23%
• 6M: 10.63%
• 1Y: 24.28%
• 3Y*: 13.28%
• 5Y*: 7.50%
• 10Y*: 8.39%

DSPIX

• 1D: 1.07%
• 1M: 0.45%
• YTD: 10.09%
• 6M: 9.73%
• 1Y: 27.13%
• 3Y*: 20.80%
• 5Y*: 13.87%
• 10Y*: 15.00%

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

DIISX vs. DSPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIISX BNY Mellon International Stock Index Fund	10.23%	30.36%	0.36%	13.93%	-14.57%	10.85%	7.52%	21.48%	-13.92%	24.46%
DSPIX BNY Mellon Institutional S&P 500 Stock Index Fund	10.09%	17.81%	24.40%	26.36%	-18.51%	28.64%	14.18%	31.31%	-4.36%	21.59%

Correlation

The correlation between DIISX and DSPIX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jun 30, 1997	0.61

The correlation between DIISX and DSPIX shifts across timeframes, from 0.61 (all time) to 0.73 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DIISX vs. DSPIX — Risk / Return Rank

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

DIISX

DIISX Risk / Return Rank: 34
DIISX Sharpe Ratio Rank: 33
DIISX Sortino Ratio Rank: 35
DIISX Omega Ratio Rank: 33
DIISX Calmar Ratio Rank: 33
DIISX Martin Ratio Rank: 35

DSPIX

DSPIX Risk / Return Rank: 66
DSPIX Sharpe Ratio Rank: 64
DSPIX Sortino Ratio Rank: 58
DSPIX Omega Ratio Rank: 60
DSPIX Calmar Ratio Rank: 68
DSPIX Martin Ratio Rank: 78

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.

DIISX vs. DSPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon International Stock Index Fund (DIISX) and BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX). 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.

	DIISX	DSPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	2.16	-0.62
Sortino ratio: Return per unit of downside risk	2.29	2.92	-0.63
Omega ratio: Gain probability vs. loss probability	1.28	1.39	-0.11
Calmar ratio: Return relative to maximum drawdown	2.05	3.03	-0.98
Martin ratio: Return relative to average drawdown	7.35	13.65	-6.30

DIISX vs. DSPIX - Sharpe Ratio Comparison

The current DIISX Sharpe Ratio is 1.55, which is comparable to the DSPIX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of DIISX and DSPIX, 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

DIISX vs. DSPIX - Drawdown Comparison

The maximum DIISX drawdown since its inception was -60.03%, which is greater than DSPIX's maximum drawdown of -55.32%. Use the drawdown chart below to compare losses from any high point for DIISX and DSPIX.

Drawdown Indicators

	DIISX	DSPIX	Difference
Max Drawdown Largest peak-to-trough decline	-60.03%	-55.32%	-4.71%
Max Drawdown (1Y) Largest decline over 1 year	-11.40%	-8.92%	-2.48%
Max Drawdown (3Y) Largest decline over 3 years	-16.26%	-18.81%	+2.55%
Max Drawdown (5Y) Largest decline over 5 years	-29.46%	-24.62%	-4.84%
Max Drawdown (10Y) Largest decline over 10 years	-34.08%	-33.79%	-0.29%
Current Drawdown Current decline from peak	-0.04%	-1.38%	+1.34%
Average Drawdown Average peak-to-trough decline	-14.80%	-9.27%	-5.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	1.97%	+1.20%

Volatility

DIISX vs. DSPIX - Volatility Comparison

BNY Mellon International Stock Index Fund (DIISX) has a higher volatility of 5.04% compared to BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX) at 4.76%. This indicates that DIISX's price experiences larger fluctuations and is considered to be riskier than DSPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIISX	DSPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	4.76%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	12.62%	9.91%	+2.71%
Volatility (1Y) Calculated over the trailing 1-year period	15.09%	12.48%	+2.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.10%	17.02%	-0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.62%	18.07%	-1.45%

DIISX vs. DSPIX - Expense Ratio Comparison

DIISX has a 0.60% expense ratio, which is higher than DSPIX's 0.20% expense ratio.

Dividends

DIISX vs. DSPIX - Dividend Comparison

DIISX's dividend yield for the trailing twelve months is around 4.16%, less than DSPIX's 30.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIISX BNY Mellon International Stock Index Fund	4.16%	4.58%	0.27%	0.29%	2.23%	3.42%	1.62%	2.80%	2.66%	2.17%	2.89%	2.12%
DSPIX BNY Mellon Institutional S&P 500 Stock Index Fund	30.74%	33.86%	27.60%	27.46%	18.33%	12.91%	1.15%	5.01%	6.33%	2.53%	2.91%	2.63%

Frequently Asked Questions

Can I hold both DIISX and DSPIX in my portfolio?

DIISX and DSPIX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIISX or DSPIX?

DIISX has higher volatility (5.04%) compared to DSPIX (4.76%). In terms of maximum drawdown, DIISX dropped -60.03% vs DSPIX's -55.32%.

Which has better risk-adjusted returns?

DSPIX currently has the higher Sharpe Ratio (2.16 vs 1.55), 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.