DMCVX vs. DNLDX

Last updated Aug 1, 2026

DMCVX (BNY Mellon Opportunistic Midcap Value Fund) and DNLDX (BNY Mellon Active MidCap Fund) are both Mid Cap Blend Equities funds from BNY Mellon. Over the past 10 years, DMCVX returned 9.62%/yr vs 10.07%/yr for DNLDX. Their correlation of 0.91 means they have usually moved in the same direction. DMCVX charges 1.09%/yr vs 1.00%/yr for DNLDX.

Performance

DMCVX vs. DNLDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Opportunistic Midcap Value Fund (DMCVX) and BNY Mellon Active MidCap Fund (DNLDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DMCVX achieves a 13.36% return, which is significantly lower than DNLDX's 15.00% return. Both investments have delivered pretty close results over the past 10 years, with DMCVX having a 9.62% annualized return and DNLDX not far ahead at 10.07%.

DMCVX

• 1D: 0.70%
• 1M: 0.88%
• 6M: 10.57%
• YTD: 13.36%
• 1Y: 22.57%
• 3Y*: 12.87%
• 5Y*: 7.82%
• 10Y*: 9.62%
• ALL TIME*: 11.34%

DNLDX

• 1D: 0.37%
• 1M: 0.66%
• 6M: 11.95%
• YTD: 15.00%
• 1Y: 21.19%
• 3Y*: 16.81%
• 5Y*: 10.45%
• 10Y*: 10.07%
• ALL TIME*: 10.44%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DMCVX BNY Mellon Opportunistic Midcap Value Fund	$0.00	$0.00	$0.00
DNLDX BNY Mellon Active MidCap Fund	$0.00	$0.00	$0.00

DMCVX vs. DNLDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DMCVX BNY Mellon Opportunistic Midcap Value Fund	13.36%	10.30%	10.50%	12.35%	-8.24%	15.84%	18.81%	27.49%	-18.12%	11.73%
DNLDX BNY Mellon Active MidCap Fund	15.00%	9.79%	22.27%	16.99%	-14.34%	26.49%	9.29%	16.82%	-14.46%	16.64%

Correlation

The correlation between DMCVX and DNLDX is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Sep 29, 1995	0.91

The correlation between DMCVX and DNLDX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

DMCVX vs. DNLDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DMCVX

DMCVX Risk / Return Rank: 55
DMCVX Sharpe Ratio Rank: 50
DMCVX Sortino Ratio Rank: 53
DMCVX Omega Ratio Rank: 47
DMCVX Calmar Ratio Rank: 64
DMCVX Martin Ratio Rank: 63

DNLDX

DNLDX Risk / Return Rank: 65
DNLDX Sharpe Ratio Rank: 56
DNLDX Sortino Ratio Rank: 58
DNLDX Omega Ratio Rank: 50
DNLDX Calmar Ratio Rank: 79
DNLDX Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DMCVX vs. DNLDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Opportunistic Midcap Value Fund (DMCVX) and BNY Mellon Active MidCap Fund (DNLDX). 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.

	DMCVX	DNLDX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.41	-0.02
Sortino ratio: Return per unit of downside risk	2.05	2.08	-0.03
Omega ratio: Gain probability vs. loss probability	1.25	1.25	0.00
Calmar ratio: Return relative to maximum drawdown	2.19	2.61	-0.42
Martin ratio: Return relative to average drawdown	8.28	9.77	-1.49

DMCVX vs. DNLDX - Sharpe Ratio Comparison

The current DMCVX Sharpe Ratio is 1.39, which is comparable to the DNLDX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of DMCVX and DNLDX, 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

DMCVX vs. DNLDX - Drawdown Comparison

The maximum DMCVX drawdown since its inception was -58.31%, smaller than the maximum DNLDX drawdown of -63.69%. Use the drawdown chart below to compare losses from any high point for DMCVX and DNLDX.

Drawdown Indicators

	DMCVX	DNLDX	Difference
Max Drawdown Largest peak-to-trough decline	-58.31%	-63.69%	+5.38%
Max Drawdown (1Y) Largest decline over 1 year	-9.13%	-7.29%	-1.84%
Max Drawdown (3Y) Largest decline over 3 years	-21.13%	-20.42%	-0.71%
Max Drawdown (5Y) Largest decline over 5 years	-21.13%	-23.42%	+2.29%
Max Drawdown (10Y) Largest decline over 10 years	-40.44%	-42.23%	+1.79%
Current Drawdown Current decline from peak	-0.12%	-0.65%	+0.53%
Average Drawdown Average peak-to-trough decline	-9.01%	-9.60%	+0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	1.95%	+0.47%

Volatility

DMCVX vs. DNLDX - Volatility Comparison

BNY Mellon Opportunistic Midcap Value Fund (DMCVX) has a higher volatility of 3.05% compared to BNY Mellon Active MidCap Fund (DNLDX) at 2.77%. This indicates that DMCVX's price experiences larger fluctuations and is considered to be riskier than DNLDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DMCVX	DNLDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	2.77%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	10.95%	10.01%	+0.94%
Volatility (1Y) Calculated over the trailing 1-year period	14.38%	13.48%	+0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.19%	18.50%	-1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.38%	19.46%	-0.08%

DMCVX vs. DNLDX - Expense Ratio Comparison

DMCVX has a 1.09% expense ratio, which is higher than DNLDX's 1.00% expense ratio.

Dividends

DMCVX vs. DNLDX - Dividend Comparison

DMCVX's dividend yield for the trailing twelve months is around 12.15%, less than DNLDX's 13.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DMCVX BNY Mellon Opportunistic Midcap Value Fund	12.15%	13.77%	10.02%	3.94%	6.55%	12.80%	0.10%	0.26%	33.11%	9.62%	4.60%	20.93%
DNLDX BNY Mellon Active MidCap Fund	13.06%	14.15%	15.24%	1.69%	8.82%	17.74%	2.77%	2.65%	11.14%	11.32%	1.00%	3.12%

Frequently Asked Questions

Can I hold both DMCVX and DNLDX in my portfolio?

With a correlation of 0.93, DMCVX and DNLDX 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, DMCVX or DNLDX?

DMCVX has higher volatility (3.05%) compared to DNLDX (2.77%). In terms of maximum drawdown, DMCVX dropped -58.31% vs DNLDX's -63.69%.

Which has better risk-adjusted returns?

DNLDX currently has the higher Sharpe Ratio (1.41 vs 1.39), 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.