DMLP vs. FTEC

Last updated Jun 24, 2026

DMLP (Dorchester Minerals, L.P.) is a stock, while FTEC (Fidelity MSCI Information Technology Index ETF) is Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Over the past 10 years, DMLP returned 16.86%/yr vs 25.28%/yr for FTEC. At a 0.18 correlation, their price movements are largely independent.

Performance

DMLP vs. FTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dorchester Minerals, L.P. (DMLP) and Fidelity MSCI Information Technology Index ETF (FTEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DMLP having a 22.90% return and FTEC slightly higher at 23.56%. Over the past 10 years, DMLP has underperformed FTEC with an annualized return of 16.86%, while FTEC has yielded a comparatively higher 25.28% annualized return.

DMLP

• 1D: 1.55%
• 1M: -4.59%
• YTD: 22.90%
• 6M: 24.04%
• 1Y: 6.71%
• 3Y*: 7.03%
• 5Y*: 21.90%
• 10Y*: 16.86%

FTEC

• 1D: -3.70%
• 1M: 0.35%
• YTD: 23.56%
• 6M: 21.69%
• 1Y: 47.58%
• 3Y*: 30.58%
• 5Y*: 19.77%
• 10Y*: 25.28%

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

DMLP vs. FTEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DMLP Dorchester Minerals, L.P.	22.90%	-25.92%	16.59%	18.99%	71.68%	98.93%	-37.39%	48.52%	6.12%	-6.93%
FTEC Fidelity MSCI Information Technology Index ETF	23.56%	22.11%	29.40%	53.30%	-29.59%	30.49%	45.83%	48.93%	-0.39%	36.83%

Correlation

The correlation between DMLP and FTEC is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.18

The correlation between DMLP and FTEC shifts across timeframes, from -0.05 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DMLP vs. FTEC — Risk / Return Rank

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

DMLP

DMLP Risk / Return Rank: 49
DMLP Sharpe Ratio Rank: 53
DMLP Sortino Ratio Rank: 45
DMLP Omega Ratio Rank: 43
DMLP Calmar Ratio Rank: 50
DMLP Martin Ratio Rank: 52

FTEC

FTEC Risk / Return Rank: 60
FTEC Sharpe Ratio Rank: 67
FTEC Sortino Ratio Rank: 57
FTEC Omega Ratio Rank: 59
FTEC Calmar Ratio Rank: 62
FTEC Martin Ratio Rank: 54

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.

DMLP vs. FTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dorchester Minerals, L.P. (DMLP) and Fidelity MSCI Information Technology Index ETF (FTEC). 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.

	DMLP	FTEC	Difference
Sharpe ratio: Return per unit of total volatility	0.29	2.10	-1.81
Sortino ratio: Return per unit of downside risk	0.57	2.63	-2.06
Omega ratio: Gain probability vs. loss probability	1.07	1.35	-0.28
Calmar ratio: Return relative to maximum drawdown	0.34	2.94	-2.60
Martin ratio: Return relative to average drawdown	0.79	9.03	-8.24

DMLP vs. FTEC - Sharpe Ratio Comparison

The current DMLP Sharpe Ratio is 0.29, which is lower than the FTEC Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of DMLP and FTEC, 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

DMLP vs. FTEC - Drawdown Comparison

The maximum DMLP drawdown since its inception was -72.35%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for DMLP and FTEC.

Drawdown Indicators

	DMLP	FTEC	Difference
Max Drawdown Largest peak-to-trough decline	-72.35%	-34.95%	-37.40%
Max Drawdown (1Y) Largest decline over 1 year	-20.01%	-16.26%	-3.75%
Max Drawdown (3Y) Largest decline over 3 years	-32.31%	-27.30%	-5.01%
Max Drawdown (5Y) Largest decline over 5 years	-32.31%	-34.95%	+2.64%
Max Drawdown (10Y) Largest decline over 10 years	-56.80%	-34.95%	-21.85%
Current Drawdown Current decline from peak	-12.50%	-7.72%	-4.78%
Average Drawdown Average peak-to-trough decline	-19.86%	-5.57%	-14.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.50%	5.28%	+3.22%

Volatility

DMLP vs. FTEC - Volatility Comparison

The current volatility for Dorchester Minerals, L.P. (DMLP) is 8.04%, while Fidelity MSCI Information Technology Index ETF (FTEC) has a volatility of 11.42%. This indicates that DMLP experiences smaller price fluctuations and is considered to be less risky than FTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DMLP	FTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.04%	11.42%	-3.38%
Volatility (6M) Calculated over the trailing 6-month period	17.43%	18.65%	-1.22%
Volatility (1Y) Calculated over the trailing 1-year period	23.41%	22.79%	+0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.67%	25.60%	+4.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.77%	24.86%	+6.91%

Dividends

DMLP vs. FTEC - Dividend Comparison

DMLP's dividend yield for the trailing twelve months is around 9.69%, more than FTEC's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DMLP Dorchester Minerals, L.P.	9.69%	12.41%	10.46%	10.67%	11.68%	7.75%	12.75%	10.32%	11.87%	7.60%	4.88%	11.67%
FTEC Fidelity MSCI Information Technology Index ETF	0.36%	0.43%	0.49%	0.77%	0.93%	0.63%	0.83%	1.03%	1.20%	0.96%	1.25%	1.27%

Frequently Asked Questions

Can I hold both DMLP and FTEC in my portfolio?

DMLP and FTEC have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DMLP or FTEC?

FTEC has higher volatility (11.42%) compared to DMLP (8.04%). In terms of maximum drawdown, DMLP dropped -72.35% vs FTEC's -34.95%.

Which has better risk-adjusted returns?

FTEC currently has the higher Sharpe Ratio (2.10 vs 0.29), 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.