DLBMX vs. VSCIX

Last updated Jun 24, 2026

DLBMX (MassMutual Small Cap Opportunities Fund) and VSCIX (Vanguard Small-Cap Index Fund Institutional Shares) are both Small Cap Blend Equities funds. Over the past 10 years, DLBMX returned 15.23%/yr vs 11.79%/yr for VSCIX. Their correlation of 0.94 suggests significant overlap in exposure. DLBMX charges 1.20%/yr vs 0.04%/yr for VSCIX.

Performance

DLBMX vs. VSCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MassMutual Small Cap Opportunities Fund (DLBMX) and Vanguard Small-Cap Index Fund Institutional Shares (VSCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLBMX achieves a 17.27% return, which is significantly higher than VSCIX's 15.72% return. Over the past 10 years, DLBMX has outperformed VSCIX with an annualized return of 15.23%, while VSCIX has yielded a comparatively lower 11.79% annualized return.

DLBMX

• 1D: 0.47%
• 1M: 5.36%
• YTD: 17.27%
• 6M: 14.56%
• 1Y: 27.42%
• 3Y*: 16.82%
• 5Y*: 14.58%
• 10Y*: 15.23%

VSCIX

• 1D: 0.25%
• 1M: 2.87%
• YTD: 15.72%
• 6M: 13.57%
• 1Y: 29.06%
• 3Y*: 17.54%
• 5Y*: 7.38%
• 10Y*: 11.79%

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

DLBMX vs. VSCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DLBMX MassMutual Small Cap Opportunities Fund	17.27%	8.07%	12.30%	17.43%	-16.19%	64.90%	19.75%	25.54%	-11.14%	13.90%
VSCIX Vanguard Small-Cap Index Fund Institutional Shares	15.72%	8.85%	12.96%	19.52%	-17.60%	17.74%	19.07%	27.40%	-9.33%	16.25%

Correlation

The correlation between DLBMX and VSCIX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jul 13, 1998	0.94

The correlation between DLBMX and VSCIX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

DLBMX vs. VSCIX — Risk / Return Rank

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

DLBMX

DLBMX Risk / Return Rank: 39
DLBMX Sharpe Ratio Rank: 37
DLBMX Sortino Ratio Rank: 37
DLBMX Omega Ratio Rank: 34
DLBMX Calmar Ratio Rank: 41
DLBMX Martin Ratio Rank: 45

VSCIX

VSCIX Risk / Return Rank: 56
VSCIX Sharpe Ratio Rank: 45
VSCIX Sortino Ratio Rank: 45
VSCIX Omega Ratio Rank: 40
VSCIX Calmar Ratio Rank: 79
VSCIX Martin Ratio Rank: 69

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.

DLBMX vs. VSCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MassMutual Small Cap Opportunities Fund (DLBMX) and Vanguard Small-Cap Index Fund Institutional Shares (VSCIX). 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.

	DLBMX	VSCIX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.82	-0.19
Sortino ratio: Return per unit of downside risk	2.36	2.59	-0.23
Omega ratio: Gain probability vs. loss probability	1.28	1.31	-0.03
Calmar ratio: Return relative to maximum drawdown	2.33	3.38	-1.06
Martin ratio: Return relative to average drawdown	8.96	12.45	-3.49

DLBMX vs. VSCIX - Sharpe Ratio Comparison

The current DLBMX Sharpe Ratio is 1.63, which is comparable to the VSCIX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of DLBMX and VSCIX, 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

DLBMX vs. VSCIX - Drawdown Comparison

The maximum DLBMX drawdown since its inception was -65.12%, which is greater than VSCIX's maximum drawdown of -59.66%. Use the drawdown chart below to compare losses from any high point for DLBMX and VSCIX.

Drawdown Indicators

	DLBMX	VSCIX	Difference
Max Drawdown Largest peak-to-trough decline	-65.12%	-59.66%	-5.46%
Max Drawdown (1Y) Largest decline over 1 year	-12.42%	-8.97%	-3.45%
Max Drawdown (3Y) Largest decline over 3 years	-24.84%	-25.25%	+0.41%
Max Drawdown (5Y) Largest decline over 5 years	-29.39%	-28.13%	-1.26%
Max Drawdown (10Y) Largest decline over 10 years	-42.55%	-41.81%	-0.74%
Current Drawdown Current decline from peak	0.00%	-0.33%	+0.33%
Average Drawdown Average peak-to-trough decline	-10.19%	-10.11%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	2.43%	+0.79%

Volatility

DLBMX vs. VSCIX - Volatility Comparison

MassMutual Small Cap Opportunities Fund (DLBMX) has a higher volatility of 5.50% compared to Vanguard Small-Cap Index Fund Institutional Shares (VSCIX) at 4.97%. This indicates that DLBMX's price experiences larger fluctuations and is considered to be riskier than VSCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLBMX	VSCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.50%	4.97%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	13.35%	12.22%	+1.13%
Volatility (1Y) Calculated over the trailing 1-year period	17.73%	16.68%	+1.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.72%	20.76%	+10.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.22%	21.60%	+6.62%

DLBMX vs. VSCIX - Expense Ratio Comparison

DLBMX has a 1.20% expense ratio, which is higher than VSCIX's 0.04% expense ratio.

Dividends

DLBMX vs. VSCIX - Dividend Comparison

DLBMX's dividend yield for the trailing twelve months is around 8.62%, more than VSCIX's 1.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLBMX MassMutual Small Cap Opportunities Fund	8.62%	10.11%	9.33%	4.73%	0.88%	35.42%	7.82%	0.46%	11.94%	13.55%	3.14%	11.15%
VSCIX Vanguard Small-Cap Index Fund Institutional Shares	1.18%	1.34%	1.31%	1.55%	1.55%	1.25%	1.15%	1.40%	1.68%	1.36%	1.50%	1.49%

Frequently Asked Questions

Can I hold both DLBMX and VSCIX in my portfolio?

With a correlation of 0.95, DLBMX and VSCIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DLBMX or VSCIX?

DLBMX has higher volatility (5.50%) compared to VSCIX (4.97%). In terms of maximum drawdown, DLBMX dropped -65.12% vs VSCIX's -59.66%.

Which has better risk-adjusted returns?

VSCIX currently has the higher Sharpe Ratio (1.82 vs 1.63), 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.