DLQAX vs. DAGVX

Last updated Jun 24, 2026

DLQAX (BNY Mellon Large Cap Equity Fund) and DAGVX (BNY Mellon Dynamic Value Fund) are both mutual funds - DLQAX is a Large Cap Growth Equities fund managed by BNY Mellon, while DAGVX is a Large Cap Value Equities fund managed by BNY Mellon. Over the past 10 years, DLQAX returned 13.38%/yr vs 14.11%/yr for DAGVX. Their correlation of 0.89 suggests significant overlap in exposure. DLQAX charges 1.00%/yr vs 0.93%/yr for DAGVX.

Performance

DLQAX vs. DAGVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Large Cap Equity Fund (DLQAX) and BNY Mellon Dynamic Value Fund (DAGVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLQAX achieves a 5.77% return, which is significantly lower than DAGVX's 15.61% return. Over the past 10 years, DLQAX has underperformed DAGVX with an annualized return of 13.38%, while DAGVX has yielded a comparatively higher 14.11% annualized return.

DLQAX

• 1D: -0.49%
• 1M: -0.73%
• YTD: 5.77%
• 6M: 4.71%
• 1Y: 19.45%
• 3Y*: 16.57%
• 5Y*: 8.10%
• 10Y*: 13.38%

DAGVX

• 1D: 0.52%
• 1M: 2.58%
• YTD: 15.61%
• 6M: 14.55%
• 1Y: 29.34%
• 3Y*: 19.87%
• 5Y*: 14.14%
• 10Y*: 14.11%

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

DLQAX vs. DAGVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DLQAX BNY Mellon Large Cap Equity Fund	5.77%	14.27%	21.29%	16.81%	-23.77%	27.21%	23.57%	29.30%	-6.06%	24.54%
DAGVX BNY Mellon Dynamic Value Fund	15.61%	18.20%	14.16%	12.54%	1.43%	30.90%	3.66%	26.74%	-10.76%	14.78%

Correlation

The correlation between DLQAX and DAGVX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jun 20, 1996	0.89

The correlation between DLQAX and DAGVX shifts across timeframes, from 0.78 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DLQAX vs. DAGVX — Risk / Return Rank

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

DLQAX

DLQAX Risk / Return Rank: 36
DLQAX Sharpe Ratio Rank: 35
DLQAX Sortino Ratio Rank: 32
DLQAX Omega Ratio Rank: 33
DLQAX Calmar Ratio Rank: 35
DLQAX Martin Ratio Rank: 44

DAGVX

DAGVX Risk / Return Rank: 83
DAGVX Sharpe Ratio Rank: 81
DAGVX Sortino Ratio Rank: 78
DAGVX Omega Ratio Rank: 73
DAGVX Calmar Ratio Rank: 91
DAGVX Martin Ratio Rank: 90

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.

DLQAX vs. DAGVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Large Cap Equity Fund (DLQAX) and BNY Mellon Dynamic Value Fund (DAGVX). 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.

	DLQAX	DAGVX	Difference
Sharpe ratio: Return per unit of total volatility	1.59	2.45	-0.86
Sortino ratio: Return per unit of downside risk	2.19	3.40	-1.21
Omega ratio: Gain probability vs. loss probability	1.28	1.43	-0.15
Calmar ratio: Return relative to maximum drawdown	2.10	4.52	-2.42
Martin ratio: Return relative to average drawdown	8.80	16.55	-7.75

DLQAX vs. DAGVX - Sharpe Ratio Comparison

The current DLQAX Sharpe Ratio is 1.59, which is lower than the DAGVX Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of DLQAX and DAGVX, 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

DLQAX vs. DAGVX - Drawdown Comparison

The maximum DLQAX drawdown since its inception was -70.38%, which is greater than DAGVX's maximum drawdown of -55.04%. Use the drawdown chart below to compare losses from any high point for DLQAX and DAGVX.

Drawdown Indicators

	DLQAX	DAGVX	Difference
Max Drawdown Largest peak-to-trough decline	-70.38%	-55.04%	-15.34%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	-6.69%	-2.94%
Max Drawdown (3Y) Largest decline over 3 years	-22.44%	-16.96%	-5.48%
Max Drawdown (5Y) Largest decline over 5 years	-30.77%	-16.96%	-13.81%
Max Drawdown (10Y) Largest decline over 10 years	-34.33%	-42.62%	+8.29%
Current Drawdown Current decline from peak	-1.94%	-0.28%	-1.66%
Average Drawdown Average peak-to-trough decline	-18.65%	-7.64%	-11.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	1.82%	+0.47%

Volatility

DLQAX vs. DAGVX - Volatility Comparison

BNY Mellon Large Cap Equity Fund (DLQAX) has a higher volatility of 4.56% compared to BNY Mellon Dynamic Value Fund (DAGVX) at 4.24%. This indicates that DLQAX's price experiences larger fluctuations and is considered to be riskier than DAGVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLQAX	DAGVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	4.24%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	9.84%	9.56%	+0.28%
Volatility (1Y) Calculated over the trailing 1-year period	12.72%	12.35%	+0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.71%	15.59%	+2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.82%	18.85%	-0.03%

DLQAX vs. DAGVX - Expense Ratio Comparison

DLQAX has a 1.00% expense ratio, which is higher than DAGVX's 0.93% expense ratio.

Dividends

DLQAX vs. DAGVX - Dividend Comparison

DLQAX's dividend yield for the trailing twelve months is around 23.76%, more than DAGVX's 5.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DAGVX BNY Mellon Dynamic Value Fund	5.78%	6.69%	6.85%	5.09%	7.96%	21.64%	2.64%	3.29%	17.81%	10.71%	2.72%	15.78%
DLQAX BNY Mellon Large Cap Equity Fund	23.76%	21.34%	47.67%	35.24%	15.74%	14.22%	3.69%	4.70%	15.48%	3.90%	1.90%	5.38%

Frequently Asked Questions

Can I hold both DLQAX and DAGVX in my portfolio?

DLQAX and DAGVX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DLQAX or DAGVX?

DLQAX has higher volatility (4.56%) compared to DAGVX (4.24%). In terms of maximum drawdown, DLQAX dropped -70.38% vs DAGVX's -55.04%.

Which has better risk-adjusted returns?

DAGVX currently has the higher Sharpe Ratio (2.45 vs 1.59), 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.