IPFPX vs. DQIRX

Last updated Jun 24, 2026

IPFPX (Poplar Forest Partners Fund) and DQIRX (BNY Mellon Equity Income Fund) are both Large Cap Value Equities funds. Over the past 10 years, IPFPX returned 11.33%/yr vs 14.55%/yr for DQIRX. Their correlation of 0.84 suggests significant overlap in exposure. IPFPX charges 0.95%/yr vs 0.78%/yr for DQIRX.

Performance

IPFPX vs. DQIRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Poplar Forest Partners Fund (IPFPX) and BNY Mellon Equity Income Fund (DQIRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPFPX achieves a 18.70% return, which is significantly higher than DQIRX's 13.11% return. Over the past 10 years, IPFPX has underperformed DQIRX with an annualized return of 11.33%, while DQIRX has yielded a comparatively higher 14.55% annualized return.

IPFPX

• 1D: 0.25%
• 1M: 3.54%
• YTD: 18.70%
• 6M: 17.91%
• 1Y: 36.11%
• 3Y*: 19.89%
• 5Y*: 11.93%
• 10Y*: 11.33%

DQIRX

• 1D: -0.25%
• 1M: -1.20%
• YTD: 13.11%
• 6M: 12.16%
• 1Y: 30.44%
• 3Y*: 23.80%
• 5Y*: 15.62%
• 10Y*: 14.55%

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

IPFPX vs. DQIRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPFPX Poplar Forest Partners Fund	18.70%	22.94%	6.24%	5.02%	0.81%	39.49%	-1.26%	21.64%	-18.64%	6.84%
DQIRX BNY Mellon Equity Income Fund	13.11%	19.01%	26.93%	19.21%	-9.35%	29.13%	4.81%	24.98%	-3.60%	17.40%

Correlation

The correlation between IPFPX and DQIRX is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Dec 31, 2009	0.84

Over the past year, the correlation between IPFPX and DQIRX has dropped to 0.64 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.

Return for Risk

IPFPX vs. DQIRX — Risk / Return Rank

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

IPFPX

IPFPX Risk / Return Rank: 90
IPFPX Sharpe Ratio Rank: 93
IPFPX Sortino Ratio Rank: 92
IPFPX Omega Ratio Rank: 83
IPFPX Calmar Ratio Rank: 91
IPFPX Martin Ratio Rank: 90

DQIRX

DQIRX Risk / Return Rank: 89
DQIRX Sharpe Ratio Rank: 90
DQIRX Sortino Ratio Rank: 84
DQIRX Omega Ratio Rank: 83
DQIRX Calmar Ratio Rank: 92
DQIRX Martin Ratio Rank: 94

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.

IPFPX vs. DQIRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Poplar Forest Partners Fund (IPFPX) and BNY Mellon Equity Income Fund (DQIRX). 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.

	IPFPX	DQIRX	Difference
Sharpe ratio: Return per unit of total volatility	2.95	2.76	+0.19
Sortino ratio: Return per unit of downside risk	4.23	3.65	+0.57
Omega ratio: Gain probability vs. loss probability	1.51	1.51	0.00
Calmar ratio: Return relative to maximum drawdown	4.48	4.65	-0.17
Martin ratio: Return relative to average drawdown	16.80	19.15	-2.34

IPFPX vs. DQIRX - Sharpe Ratio Comparison

The current IPFPX Sharpe Ratio is 2.95, which is comparable to the DQIRX Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of IPFPX and DQIRX, 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

IPFPX vs. DQIRX - Drawdown Comparison

The maximum IPFPX drawdown since its inception was -47.77%, smaller than the maximum DQIRX drawdown of -50.77%. Use the drawdown chart below to compare losses from any high point for IPFPX and DQIRX.

Drawdown Indicators

	IPFPX	DQIRX	Difference
Max Drawdown Largest peak-to-trough decline	-47.77%	-50.77%	+3.00%
Max Drawdown (1Y) Largest decline over 1 year	-8.31%	-6.79%	-1.52%
Max Drawdown (3Y) Largest decline over 3 years	-14.15%	-18.48%	+4.33%
Max Drawdown (5Y) Largest decline over 5 years	-17.94%	-20.34%	+2.40%
Max Drawdown (10Y) Largest decline over 10 years	-47.77%	-36.82%	-10.95%
Current Drawdown Current decline from peak	-1.36%	-2.22%	+0.86%
Average Drawdown Average peak-to-trough decline	-6.67%	-6.92%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	1.65%	+0.56%

Volatility

IPFPX vs. DQIRX - Volatility Comparison

Poplar Forest Partners Fund (IPFPX) and BNY Mellon Equity Income Fund (DQIRX) have volatilities of 4.16% and 4.15%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPFPX	DQIRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	4.15%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	9.46%	8.60%	+0.86%
Volatility (1Y) Calculated over the trailing 1-year period	12.66%	11.46%	+1.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.96%	15.88%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.86%	17.43%	+2.43%

IPFPX vs. DQIRX - Expense Ratio Comparison

IPFPX has a 0.95% expense ratio, which is higher than DQIRX's 0.78% expense ratio.

Dividends

IPFPX vs. DQIRX - Dividend Comparison

IPFPX's dividend yield for the trailing twelve months is around 7.98%, more than DQIRX's 2.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DQIRX BNY Mellon Equity Income Fund	2.88%	3.12%	7.05%	4.56%	6.54%	2.61%	3.42%	2.50%	5.29%	8.45%	4.04%	8.22%
IPFPX Poplar Forest Partners Fund	7.98%	9.47%	10.86%	3.89%	6.17%	14.47%	2.41%	1.64%	12.47%	5.01%	2.19%	0.94%

Frequently Asked Questions

Can I hold both IPFPX and DQIRX in my portfolio?

IPFPX and DQIRX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPFPX or DQIRX?

IPFPX has higher volatility (4.16%) compared to DQIRX (4.15%). In terms of maximum drawdown, IPFPX dropped -47.77% vs DQIRX's -50.77%.

Which has better risk-adjusted returns?

IPFPX currently has the higher Sharpe Ratio (2.95 vs 2.76), 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.