DSMFX vs. DNLDX

Last updated Jun 24, 2026

DSMFX (Destinations Small-Mid Cap Equity Fund) and DNLDX (BNY Mellon Active MidCap Fund) are both Mid Cap Blend Equities funds. Over the past 5 years, DSMFX returned 8.61%/yr vs 10.82%/yr for DNLDX. Their correlation of 0.92 suggests significant overlap in exposure. DSMFX charges 1.10%/yr vs 1.00%/yr for DNLDX.

Performance

DSMFX vs. DNLDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Destinations Small-Mid Cap Equity Fund (DSMFX) 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, DSMFX achieves a 22.01% return, which is significantly higher than DNLDX's 13.68% return.

DSMFX

• 1D: 1.22%
• 1M: 4.68%
• YTD: 22.01%
• 6M: 19.43%
• 1Y: 43.40%
• 3Y*: 20.24%
• 5Y*: 8.61%
• 10Y*: —

DNLDX

• 1D: 0.69%
• 1M: 3.99%
• YTD: 13.68%
• 6M: 12.10%
• 1Y: 22.83%
• 3Y*: 19.40%
• 5Y*: 10.82%
• 10Y*: 10.65%

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

DSMFX vs. DNLDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DSMFX Destinations Small-Mid Cap Equity Fund	22.01%	13.94%	14.72%	11.61%	-19.89%	26.65%	23.63%	30.82%	-7.68%	12.35%
DNLDX BNY Mellon Active MidCap Fund	13.68%	9.79%	22.27%	16.99%	-14.34%	26.49%	9.29%	16.82%	-14.46%	10.33%

Correlation

The correlation between DSMFX and DNLDX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 20, 2017	0.92

The correlation between DSMFX and DNLDX has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.

Return for Risk

DSMFX vs. DNLDX — Risk / Return Rank

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

DSMFX

DSMFX Risk / Return Rank: 83
DSMFX Sharpe Ratio Rank: 84
DSMFX Sortino Ratio Rank: 78
DSMFX Omega Ratio Rank: 70
DSMFX Calmar Ratio Rank: 92
DSMFX Martin Ratio Rank: 93

DNLDX

DNLDX Risk / Return Rank: 54
DNLDX Sharpe Ratio Rank: 43
DNLDX Sortino Ratio Rank: 44
DNLDX Omega Ratio Rank: 38
DNLDX Calmar Ratio Rank: 77
DNLDX Martin Ratio Rank: 68

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.

DSMFX vs. DNLDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Destinations Small-Mid Cap Equity Fund (DSMFX) 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.

	DSMFX	DNLDX	Difference
Sharpe ratio: Return per unit of total volatility	2.53	1.78	+0.74
Sortino ratio: Return per unit of downside risk	3.41	2.56	+0.86
Omega ratio: Gain probability vs. loss probability	1.43	1.31	+0.12
Calmar ratio: Return relative to maximum drawdown	4.75	3.30	+1.44
Martin ratio: Return relative to average drawdown	18.67	12.34	+6.33

DSMFX vs. DNLDX - Sharpe Ratio Comparison

The current DSMFX Sharpe Ratio is 2.53, which is higher than the DNLDX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of DSMFX 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

DSMFX vs. DNLDX - Drawdown Comparison

The maximum DSMFX drawdown since its inception was -42.52%, smaller than the maximum DNLDX drawdown of -63.69%. Use the drawdown chart below to compare losses from any high point for DSMFX and DNLDX.

Drawdown Indicators

	DSMFX	DNLDX	Difference
Max Drawdown Largest peak-to-trough decline	-42.52%	-63.69%	+21.17%
Max Drawdown (1Y) Largest decline over 1 year	-9.75%	-7.29%	-2.46%
Max Drawdown (3Y) Largest decline over 3 years	-27.39%	-20.42%	-6.97%
Max Drawdown (5Y) Largest decline over 5 years	-30.72%	-23.42%	-7.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-42.23%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.72%	-9.62%	+0.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	1.95%	+0.50%

Volatility

DSMFX vs. DNLDX - Volatility Comparison

Destinations Small-Mid Cap Equity Fund (DSMFX) has a higher volatility of 6.45% compared to BNY Mellon Active MidCap Fund (DNLDX) at 4.43%. This indicates that DSMFX'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

	DSMFX	DNLDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.45%	4.43%	+2.02%
Volatility (6M) Calculated over the trailing 6-month period	14.43%	10.15%	+4.28%
Volatility (1Y) Calculated over the trailing 1-year period	18.35%	13.54%	+4.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.07%	18.54%	+2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.88%	19.55%	+2.33%

DSMFX vs. DNLDX - Expense Ratio Comparison

DSMFX has a 1.10% expense ratio, which is higher than DNLDX's 1.00% expense ratio.

Dividends

DSMFX vs. DNLDX - Dividend Comparison

DSMFX's dividend yield for the trailing twelve months is around 5.85%, less than DNLDX's 13.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DNLDX BNY Mellon Active MidCap Fund	13.22%	14.15%	15.24%	1.69%	8.82%	17.74%	2.77%	2.65%	11.14%	11.32%	1.00%	3.12%
DSMFX Destinations Small-Mid Cap Equity Fund	5.85%	7.13%	7.71%	0.26%	3.57%	27.39%	2.06%	4.05%	5.96%	0.92%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DSMFX and DNLDX in my portfolio?

DSMFX and DNLDX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DSMFX or DNLDX?

DSMFX has higher volatility (6.45%) compared to DNLDX (4.43%). In terms of maximum drawdown, DSMFX dropped -42.52% vs DNLDX's -63.69%.

Which has better risk-adjusted returns?

DSMFX currently has the higher Sharpe Ratio (2.53 vs 1.78), 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.