DVIPX vs. DBALX

Last updated Jun 24, 2026

DVIPX (Davenport Value & Income Fund) and DBALX (Davenport Balanced Income Fund) are both mutual funds - DVIPX is a Large Cap Value Equities fund managed by Davenport, while DBALX is a Diversified Portfolio fund managed by Davenport. Over the past 10 years, DVIPX returned 8.17%/yr vs 5.86%/yr for DBALX. With a 0.98 correlation, they move nearly in lockstep. DVIPX charges 0.87%/yr vs 0.93%/yr for DBALX.

Performance

DVIPX vs. DBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Davenport Value & Income Fund (DVIPX) and Davenport Balanced Income Fund (DBALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVIPX achieves a 4.55% return, which is significantly higher than DBALX's 3.18% return. Over the past 10 years, DVIPX has outperformed DBALX with an annualized return of 8.17%, while DBALX has yielded a comparatively lower 5.86% annualized return.

DVIPX

• 1D: -0.10%
• 1M: -1.26%
• YTD: 4.55%
• 6M: 4.24%
• 1Y: 12.61%
• 3Y*: 11.52%
• 5Y*: 5.87%
• 10Y*: 8.17%

DBALX

• 1D: -0.15%
• 1M: -0.65%
• YTD: 3.18%
• 6M: 3.16%
• 1Y: 8.69%
• 3Y*: 8.94%
• 5Y*: 4.39%
• 10Y*: 5.86%

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

DVIPX vs. DBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DVIPX Davenport Value & Income Fund	4.55%	13.70%	9.53%	8.49%	-12.88%	23.35%	1.75%	25.60%	-12.68%	18.24%
DBALX Davenport Balanced Income Fund	3.18%	9.88%	7.98%	7.81%	-11.01%	14.19%	3.54%	18.55%	-8.16%	11.11%

Correlation

The correlation between DVIPX and DBALX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.98

The correlation between DVIPX and DBALX has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

Return for Risk

DVIPX vs. DBALX — Risk / Return Rank

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

DVIPX

DVIPX Risk / Return Rank: 22
DVIPX Sharpe Ratio Rank: 22
DVIPX Sortino Ratio Rank: 23
DVIPX Omega Ratio Rank: 20
DVIPX Calmar Ratio Rank: 23
DVIPX Martin Ratio Rank: 22

DBALX

DBALX Risk / Return Rank: 28
DBALX Sharpe Ratio Rank: 28
DBALX Sortino Ratio Rank: 30
DBALX Omega Ratio Rank: 27
DBALX Calmar Ratio Rank: 27
DBALX Martin Ratio Rank: 28

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.

DVIPX vs. DBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Davenport Value & Income Fund (DVIPX) and Davenport Balanced Income Fund (DBALX). 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.

	DVIPX	DBALX	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.41	-0.18
Sortino ratio: Return per unit of downside risk	1.85	2.11	-0.26
Omega ratio: Gain probability vs. loss probability	1.21	1.25	-0.04
Calmar ratio: Return relative to maximum drawdown	1.65	1.79	-0.14
Martin ratio: Return relative to average drawdown	5.12	6.14	-1.03

DVIPX vs. DBALX - Sharpe Ratio Comparison

The current DVIPX Sharpe Ratio is 1.23, which is comparable to the DBALX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of DVIPX and DBALX, 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

DVIPX vs. DBALX - Drawdown Comparison

The maximum DVIPX drawdown since its inception was -38.40%, which is greater than DBALX's maximum drawdown of -27.89%. Use the drawdown chart below to compare losses from any high point for DVIPX and DBALX.

Drawdown Indicators

	DVIPX	DBALX	Difference
Max Drawdown Largest peak-to-trough decline	-38.40%	-27.89%	-10.51%
Max Drawdown (1Y) Largest decline over 1 year	-8.08%	-5.15%	-2.93%
Max Drawdown (3Y) Largest decline over 3 years	-13.02%	-8.08%	-4.94%
Max Drawdown (5Y) Largest decline over 5 years	-20.67%	-15.41%	-5.26%
Max Drawdown (10Y) Largest decline over 10 years	-38.40%	-27.89%	-10.51%
Current Drawdown Current decline from peak	-3.51%	-1.90%	-1.61%
Average Drawdown Average peak-to-trough decline	-4.49%	-3.63%	-0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	1.50%	+1.10%

Volatility

DVIPX vs. DBALX - Volatility Comparison

Davenport Value & Income Fund (DVIPX) has a higher volatility of 3.52% compared to Davenport Balanced Income Fund (DBALX) at 2.21%. This indicates that DVIPX's price experiences larger fluctuations and is considered to be riskier than DBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVIPX	DBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	2.21%	+1.31%
Volatility (6M) Calculated over the trailing 6-month period	8.09%	4.98%	+3.11%
Volatility (1Y) Calculated over the trailing 1-year period	10.84%	6.56%	+4.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.91%	8.57%	+5.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.19%	9.96%	+6.23%

DVIPX vs. DBALX - Expense Ratio Comparison

DVIPX has a 0.87% expense ratio, which is lower than DBALX's 0.93% expense ratio.

Dividends

DVIPX vs. DBALX - Dividend Comparison

DVIPX's dividend yield for the trailing twelve months is around 7.37%, more than DBALX's 5.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBALX Davenport Balanced Income Fund	5.39%	5.28%	3.73%	2.19%	4.24%	1.59%	2.00%	2.73%	2.03%	2.37%	1.04%	0.00%
DVIPX Davenport Value & Income Fund	7.37%	6.73%	6.35%	1.68%	5.59%	4.42%	4.36%	4.13%	3.70%	4.65%	2.24%	6.95%

Frequently Asked Questions

Can I hold both DVIPX and DBALX in my portfolio?

With a correlation of 0.98, DVIPX and DBALX 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, DVIPX or DBALX?

DVIPX has higher volatility (3.52%) compared to DBALX (2.21%). In terms of maximum drawdown, DVIPX dropped -38.40% vs DBALX's -27.89%.

Which has better risk-adjusted returns?

DBALX currently has the higher Sharpe Ratio (1.41 vs 1.23), 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.