DMA vs. HRNOX
DMA (Dimensional Managed Account Fund) and HRNOX (Hood River New Opportunities Fund Institutional Class) are both Diversified Portfolio funds. Over the past year, DMA returned 1.23% vs 82.39% for HRNOX. At a 0.36 correlation, their price movements are largely independent. DMA charges 0.03%/yr vs 0.95%/yr for HRNOX.
Performance
DMA vs. HRNOX - Performance Comparison
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Returns By Period
In the year-to-date period, DMA achieves a -8.61% return, which is significantly lower than HRNOX's 31.49% return.
DMA
- 1D
- 1.73%
- 1M
- 3.08%
- YTD
- -8.61%
- 6M
- -4.92%
- 1Y
- 1.23%
- 3Y*
- 19.55%
- 5Y*
- —
- 10Y*
- —
HRNOX
- 1D
- 0.77%
- 1M
- 9.60%
- YTD
- 31.49%
- 6M
- 32.75%
- 1Y
- 82.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DMA vs. HRNOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DMA Dimensional Managed Account Fund | -8.61% | 16.89% | 10.68% |
HRNOX Hood River New Opportunities Fund Institutional Class | 31.49% | 35.76% | 31.31% |
Correlation
The correlation between DMA and HRNOX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Aug 8, 2024 | 0.36 |
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Return for Risk
DMA vs. HRNOX — Risk / Return Rank
DMA
HRNOX
DMA vs. HRNOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional Managed Account Fund (DMA) and Hood River New Opportunities Fund Institutional Class (HRNOX). 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.
| DMA | HRNOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.08 | ||
| Sortino ratioReturn per unit of downside risk | -3.57 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.48 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 0.07 | 6.39 | -6.32 |
| Martin ratioReturn relative to average drawdown | 0.21 | 27.36 | -27.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DMA | HRNOX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.09 | 3.16 | -3.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 2.09 | -1.90 |
Drawdowns
DMA vs. HRNOX - Drawdown Comparison
The maximum DMA drawdown since its inception was -38.85%, which is greater than HRNOX's maximum drawdown of -31.44%. Use the drawdown chart below to compare losses from any high point for DMA and HRNOX.
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Drawdown Indicators
| DMA | HRNOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.85% | -31.44% | -7.41% |
Max Drawdown (1Y)Largest decline over 1 year | -18.34% | -13.39% | -4.95% |
Max Drawdown (3Y)Largest decline over 3 years | -18.34% | — | — |
Current DrawdownCurrent decline from peak | -10.24% | -0.47% | -9.77% |
Average DrawdownAverage peak-to-trough decline | -11.31% | -5.02% | -6.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.98% | 3.12% | +2.86% |
Volatility
DMA vs. HRNOX - Volatility Comparison
The current volatility for Dimensional Managed Account Fund (DMA) is 7.04%, while Hood River New Opportunities Fund Institutional Class (HRNOX) has a volatility of 8.47%. This indicates that DMA experiences smaller price fluctuations and is considered to be less risky than HRNOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DMA | HRNOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.04% | 8.47% | -1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 12.55% | 21.39% | -8.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.03% | 27.10% | -13.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.30% | 28.92% | -4.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.30% | 28.92% | -4.62% |
DMA vs. HRNOX - Expense Ratio Comparison
DMA has a 0.03% expense ratio, which is lower than HRNOX's 0.95% expense ratio.
Dividends
DMA vs. HRNOX - Dividend Comparison
DMA's dividend yield for the trailing twelve months is around 15.56%, while HRNOX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DMA Dimensional Managed Account Fund | 15.56% | 9.42% | 3.83% | 5.22% | 10.14% |
HRNOX Hood River New Opportunities Fund Institutional Class | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DMA and HRNOX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HRNOX has higher volatility (8.47%) compared to DMA (7.04%). In terms of maximum drawdown, DMA dropped -38.85% vs HRNOX's -31.44%.
HRNOX currently has the higher Sharpe Ratio (3.16 vs 0.09), 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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