DMLP vs. VGT

Last updated Jul 14, 2026

DMLP (Dorchester Minerals, L.P.) is a stock, while VGT (Vanguard Information Technology ETF) is Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Over the past 10 years, DMLP returned 17.73%/yr vs 24.67%/yr for VGT. At a 0.21 correlation, their price movements are largely independent.

Performance

DMLP vs. VGT - Performance Comparison

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

Returns By Period

In the year-to-date period, DMLP achieves a 25.71% return, which is significantly higher than VGT's 22.94% return. Over the past 10 years, DMLP has underperformed VGT with an annualized return of 17.73%, while VGT has yielded a comparatively higher 24.67% annualized return.

DMLP

• 1D: 1.09%
• 1M: 0.37%
• 6M: 20.85%
• YTD: 25.71%
• 1Y: 7.37%
• 3Y*: 4.26%
• 5Y*: 22.12%
• 10Y*: 17.73%

VGT

• 1D: -2.12%
• 1M: -0.88%
• 6M: 21.06%
• YTD: 22.94%
• 1Y: 38.55%
• 3Y*: 28.00%
• 5Y*: 18.46%
• 10Y*: 24.67%

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

DMLP vs. VGT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DMLP Dorchester Minerals, L.P.	25.71%	-25.92%	16.59%	18.99%	71.68%	98.93%	-37.39%	48.52%	6.12%	-6.93%
VGT Vanguard Information Technology ETF	22.94%	21.77%	29.30%	52.66%	-29.70%	30.45%	46.04%	48.62%	2.46%	37.08%

Correlation

The correlation between DMLP and VGT is -0.07, 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	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.06
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 Jan 30, 2004	0.21

The correlation between DMLP and VGT shifts across timeframes, from -0.07 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DMLP vs. VGT — Risk / Return Rank

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

DMLP

DMLP Risk / Return Rank: 53
DMLP Sharpe Ratio Rank: 57
DMLP Sortino Ratio Rank: 50
DMLP Omega Ratio Rank: 48
DMLP Calmar Ratio Rank: 55
DMLP Martin Ratio Rank: 56

VGT

VGT Risk / Return Rank: 57
VGT Sharpe Ratio Rank: 63
VGT Sortino Ratio Rank: 57
VGT Omega Ratio Rank: 57
VGT Calmar Ratio Rank: 59
VGT Martin Ratio Rank: 51

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. VGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dorchester Minerals, L.P. (DMLP) and Vanguard Information Technology ETF (VGT). 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	VGT	Difference
Sharpe ratio: Return per unit of total volatility	0.32	1.66	-1.34
Sortino ratio: Return per unit of downside risk	0.61	2.17	-1.56
Omega ratio: Gain probability vs. loss probability	1.07	1.28	-0.21
Calmar ratio: Return relative to maximum drawdown	0.37	2.36	-1.99
Martin ratio: Return relative to average drawdown	0.84	6.86	-6.02

DMLP vs. VGT - Sharpe Ratio Comparison

The current DMLP Sharpe Ratio is 0.32, which is lower than the VGT Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of DMLP and VGT, 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. VGT - Drawdown Comparison

The maximum DMLP drawdown since its inception was -72.35%, which is greater than VGT's maximum drawdown of -54.63%. Use the drawdown chart below to compare losses from any high point for DMLP and VGT.

Drawdown Indicators

	DMLP	VGT	Difference
Max Drawdown Largest peak-to-trough decline	-72.35%	-54.63%	-17.72%
Max Drawdown (1Y) Largest decline over 1 year	-20.01%	-16.40%	-3.61%
Max Drawdown (3Y) Largest decline over 3 years	-32.31%	-27.23%	-5.08%
Max Drawdown (5Y) Largest decline over 5 years	-32.31%	-35.07%	+2.76%
Max Drawdown (10Y) Largest decline over 10 years	-56.80%	-35.07%	-21.73%
Current Drawdown Current decline from peak	-10.50%	-7.99%	-2.51%
Average Drawdown Average peak-to-trough decline	-19.85%	-7.94%	-11.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.83%	5.63%	+3.20%

Volatility

DMLP vs. VGT - Volatility Comparison

The current volatility for Dorchester Minerals, L.P. (DMLP) is 7.28%, while Vanguard Information Technology ETF (VGT) has a volatility of 9.66%. This indicates that DMLP experiences smaller price fluctuations and is considered to be less risky than VGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DMLP	VGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.28%	9.66%	-2.38%
Volatility (6M) Calculated over the trailing 6-month period	16.99%	19.38%	-2.39%
Volatility (1Y) Calculated over the trailing 1-year period	23.34%	23.37%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.52%	25.69%	+3.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.58%	24.80%	+6.78%

Dividends

DMLP vs. VGT - Dividend Comparison

DMLP's dividend yield for the trailing twelve months is around 9.48%, more than VGT's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DMLP Dorchester Minerals, L.P.	9.48%	12.41%	10.46%	10.67%	11.68%	7.75%	12.75%	10.32%	11.87%	7.60%	4.88%	11.67%
VGT Vanguard Information Technology ETF	0.37%	0.40%	0.60%	0.65%	0.91%	0.64%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

Frequently Asked Questions

Can I hold both DMLP and VGT in my portfolio?

DMLP and VGT have a correlation of -0.07, 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 VGT?

VGT has higher volatility (9.66%) compared to DMLP (7.28%). In terms of maximum drawdown, DMLP dropped -72.35% vs VGT's -54.63%.

Which has better risk-adjusted returns?

VGT currently has the higher Sharpe Ratio (1.66 vs 0.32), 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.