DMO vs. DMA
DMO (Dimensional Multi-Asset Fund) and DMA (Dimensional Managed Account Fund) are both mutual funds - DMO is a Global Allocation fund managed by Dimensional, while DMA is a Diversified Portfolio fund managed by Dimensional. Over the past 3 years, DMO returned 11.17%/yr vs 23.79%/yr for DMA. Their 0.15 correlation means their historical movements had little consistent relationship. DMO charges 0.04%/yr vs 0.03%/yr for DMA.
Performance
DMO vs. DMA - Performance Comparison
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Returns By Period
In the year-to-date period, DMO achieves a 0.98% return, which is significantly higher than DMA's -7.49% return.
DMO
- 1D
- -0.10%
- 1M
- -2.44%
- 6M
- 0.79%
- YTD
- 0.98%
- 1Y
- -0.66%
- 3Y*
- 11.17%
- 5Y*
- 4.03%
- 10Y*
- 3.75%
- ALL TIME*
- 8.24%
DMA
- 1D
- -0.27%
- 1M
- -0.14%
- 6M
- -8.54%
- YTD
- -7.49%
- 1Y
- 0.42%
- 3Y*
- 23.79%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $169.87K | $140.11K | $169.40K | |
| $406.77K | $422.33K | $418.75K |
DMO vs. DMA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DMO Dimensional Multi-Asset Fund | 0.98% | 6.95% | 20.24% | 16.79% | -23.11% |
DMA Dimensional Managed Account Fund | -7.49% | 16.89% | 41.06% | -3.81% | -37.55% |
Correlation
The correlation between DMO and DMA is 0.18, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2022 | 0.15 |
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Return for Risk
DMO vs. DMA — Risk / Return Rank
DMO
DMA
DMO vs. DMA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional Multi-Asset Fund (DMO) and Dimensional Managed Account Fund (DMA). 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.
| DMO | DMA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.02 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 0.00 | -0.06 |
| Martin ratioReturn relative to average drawdown | -0.12 | 0.01 | -0.14 |
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Drawdowns
DMO vs. DMA - Drawdown Comparison
The maximum DMO drawdown since its inception was -49.16%, smaller than the maximum DMA drawdown of -53.24%. Use the drawdown chart below to compare losses from any high point for DMO and DMA.
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Drawdown Indicators
| DMO | DMA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.16% | -53.24% | +4.08% |
Max Drawdown (1Y)Largest decline over 1 year | -8.37% | -18.34% | +9.97% |
Max Drawdown (3Y)Largest decline over 3 years | -9.04% | -18.34% | +9.30% |
Max Drawdown (5Y)Largest decline over 5 years | -29.04% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -49.16% | — | — |
Current DrawdownCurrent decline from peak | -5.13% | -9.14% | +4.01% |
Average DrawdownAverage peak-to-trough decline | -9.55% | -25.27% | +15.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 7.19% | -3.61% |
Volatility
DMO vs. DMA - Volatility Comparison
The current volatility for Dimensional Multi-Asset Fund (DMO) is 1.47%, while Dimensional Managed Account Fund (DMA) has a volatility of 4.12%. This indicates that DMO experiences smaller price fluctuations and is considered to be less risky than DMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DMO | DMA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 4.12% | -2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 7.76% | 14.14% | -6.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.06% | 15.64% | -5.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.64% | 27.01% | -14.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.91% | 27.01% | -7.10% |
DMO vs. DMA - Expense Ratio Comparison
DMO has a 0.04% expense ratio, which is higher than DMA's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
DMO vs. DMA - Dividend Comparison
DMO's dividend yield for the trailing twelve months is around 14.31%, less than DMA's 16.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DMA Dimensional Managed Account Fund | 16.62% | 9.42% | 3.83% | 5.22% | 10.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DMO Dimensional Multi-Asset Fund | 14.31% | 14.01% | 12.92% | 11.46% | 11.51% | 8.88% | 10.95% | 9.63% | 18.93% | 13.30% | 13.19% | 14.09% |
Frequently Asked Questions
DMO and DMA have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DMA has higher volatility (4.12%) compared to DMO (1.47%). In terms of maximum drawdown, DMO dropped -49.16% vs DMA's -53.24%.
DMA currently has the higher Sharpe Ratio (0.01 vs -0.04), 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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