DMA vs. CSTAX
DMA (Dimensional Managed Account Fund) and CSTAX (American Funds College 2027 Fund) are both Diversified Portfolio funds. Over the past 3 years, DMA returned 22.10%/yr vs 6.81%/yr for CSTAX. At a 0.25 correlation, their price movements are largely independent. DMA charges 0.03%/yr vs 0.41%/yr for CSTAX.
Performance
DMA vs. CSTAX - Performance Comparison
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Returns By Period
In the year-to-date period, DMA achieves a -10.88% return, which is significantly lower than CSTAX's 1.22% return.
DMA
- 1D
- -0.64%
- 1M
- 5.07%
- YTD
- -10.88%
- 6M
- -11.28%
- 1Y
- -1.92%
- 3Y*
- 22.10%
- 5Y*
- —
- 10Y*
- —
CSTAX
- 1D
- -0.16%
- 1M
- 0.24%
- YTD
- 1.22%
- 6M
- 1.30%
- 1Y
- 5.87%
- 3Y*
- 6.81%
- 5Y*
- 2.86%
- 10Y*
- 5.12%
DMA vs. CSTAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DMA Dimensional Managed Account Fund | -10.88% | 16.89% | 41.06% | -3.81% | -37.55% |
CSTAX American Funds College 2027 Fund | 1.22% | 9.00% | 5.57% | 6.57% | -9.39% |
Correlation
The correlation between DMA and CSTAX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2022 | 0.25 |
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Return for Risk
DMA vs. CSTAX — Risk / Return Rank
DMA
CSTAX
DMA vs. CSTAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional Managed Account Fund (DMA) and American Funds College 2027 Fund (CSTAX). 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.
| DMA | CSTAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.12 | ||
| Sortino ratioReturn per unit of downside risk | -3.00 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.39 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | 2.29 | -2.40 |
| Martin ratioReturn relative to average drawdown | -0.29 | 8.68 | -8.98 |
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Drawdowns
DMA vs. CSTAX - Drawdown Comparison
The maximum DMA drawdown since its inception was -53.24%, which is greater than CSTAX's maximum drawdown of -14.52%. Use the drawdown chart below to compare losses from any high point for DMA and CSTAX.
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Drawdown Indicators
| DMA | CSTAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.24% | -14.52% | -38.72% |
Max Drawdown (1Y)Largest decline over 1 year | -18.34% | -2.72% | -15.62% |
Max Drawdown (3Y)Largest decline over 3 years | -18.34% | -4.89% | -13.45% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.52% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.52% | — |
Current DrawdownCurrent decline from peak | -12.47% | -0.64% | -11.83% |
Average DrawdownAverage peak-to-trough decline | -25.67% | -2.34% | -23.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.56% | 0.72% | +5.84% |
Volatility
DMA vs. CSTAX - Volatility Comparison
Dimensional Managed Account Fund (DMA) has a higher volatility of 8.23% compared to American Funds College 2027 Fund (CSTAX) at 1.15%. This indicates that DMA's price experiences larger fluctuations and is considered to be riskier than CSTAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DMA | CSTAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.23% | 1.15% | +7.08% |
Volatility (6M)Calculated over the trailing 6-month period | 13.45% | 2.47% | +10.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.21% | 3.14% | +12.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.24% | 5.17% | +22.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.24% | 5.78% | +21.46% |
DMA vs. CSTAX - Expense Ratio Comparison
DMA has a 0.03% expense ratio, which is lower than CSTAX's 0.41% expense ratio.
Dividends
DMA vs. CSTAX - Dividend Comparison
DMA's dividend yield for the trailing twelve months is around 16.60%, more than CSTAX's 5.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSTAX American Funds College 2027 Fund | 5.20% | 5.26% | 3.78% | 3.17% | 3.40% | 7.52% | 5.72% | 4.00% | 4.78% | 3.90% | 4.34% | 4.49% |
DMA Dimensional Managed Account Fund | 16.60% | 9.42% | 3.83% | 5.22% | 10.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DMA and CSTAX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DMA has higher volatility (8.23%) compared to CSTAX (1.15%). In terms of maximum drawdown, DMA dropped -53.24% vs CSTAX's -14.52%.
CSTAX currently has the higher Sharpe Ratio (1.99 vs -0.13), 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.
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