LLSCX vs. DSMFX

Last updated Apr 1, 2026

Compare and contrast key facts about Longleaf Partners Small-Cap Fund (LLSCX) and Destinations Small-Mid Cap Equity Fund (DSMFX).

LLSCX is managed by Longleaf Partners. It was launched on Feb 21, 1989. DSMFX is managed by Destinations Funds. It was launched on Mar 20, 2017.

Performance

LLSCX vs. DSMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Longleaf Partners Small-Cap Fund (LLSCX) and Destinations Small-Mid Cap Equity Fund (DSMFX). The values are adjusted to include any dividend payments, if applicable.

LLSCX vs. DSMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LLSCX Longleaf Partners Small-Cap Fund	-3.68%	7.56%	9.69%	20.17%	-19.25%	11.18%	4.17%	27.74%	-6.52%	5.50%
DSMFX Destinations Small-Mid Cap Equity Fund	0.28%	13.94%	14.72%	11.61%	-19.89%	26.65%	23.63%	30.82%	-7.68%	12.35%

Returns By Period

In the year-to-date period, LLSCX achieves a -3.68% return, which is significantly lower than DSMFX's 0.28% return.

LLSCX

• 1D: 0.61%
• 1M: -3.81%
• YTD: -3.68%
• 6M: -2.59%
• 1Y: 2.07%
• 3Y*: 9.42%
• 5Y*: 1.87%
• 10Y*: 6.69%

DSMFX

• 1D: -1.71%
• 1M: -8.77%
• YTD: 0.28%
• 6M: 3.91%
• 1Y: 26.70%
• 3Y*: 13.32%
• 5Y*: 5.56%
• 10Y*: —

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

LLSCX vs. DSMFX - Expense Ratio Comparison

LLSCX has a 0.95% expense ratio, which is lower than DSMFX's 1.10% expense ratio.

DSMFX

Destinations Small-Mid Cap Equity Fund

LLSCX

Longleaf Partners Small-Cap Fund

Return for Risk

LLSCX vs. DSMFX — Risk / Return Rank

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

LLSCX

LLSCX Risk / Return Rank: 8
LLSCX Sharpe Ratio Rank: 8
LLSCX Sortino Ratio Rank: 7
LLSCX Omega Ratio Rank: 7
LLSCX Calmar Ratio Rank: 8
LLSCX Martin Ratio Rank: 8

DSMFX

DSMFX Risk / Return Rank: 64
DSMFX Sharpe Ratio Rank: 58
DSMFX Sortino Ratio Rank: 63
DSMFX Omega Ratio Rank: 58
DSMFX Calmar Ratio Rank: 67
DSMFX Martin Ratio Rank: 73

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.

LLSCX vs. DSMFX - Risk-Adjusted Trends Comparison

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

	LLSCX	DSMFX	Difference
Sharpe ratio Return per unit of total volatility	0.15	1.06	-0.91
Sortino ratio Return per unit of downside risk	0.32	1.62	-1.30
Omega ratio Gain probability vs. loss probability	1.04	1.23	-0.19
Calmar ratio Return relative to maximum drawdown	0.10	1.55	-1.44
Martin ratio Return relative to average drawdown	0.30	6.93	-6.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LLSCX vs. DSMFX - Sharpe Ratio Comparison

The current LLSCX Sharpe Ratio is 0.15, which is lower than the DSMFX Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of LLSCX and DSMFX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LLSCX	DSMFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.15	1.06	-0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.27	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.49	+0.02

Correlation

The correlation between LLSCX and DSMFX is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

LLSCX vs. DSMFX - Dividend Comparison

LLSCX's dividend yield for the trailing twelve months is around 1.22%, less than DSMFX's 7.11% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LLSCX Longleaf Partners Small-Cap Fund	1.22%	1.17%	0.11%	0.94%	1.20%	0.82%	5.85%	14.89%	18.13%	8.43%	18.01%	5.91%
DSMFX Destinations Small-Mid Cap Equity Fund	7.11%	7.13%	7.71%	0.26%	3.57%	27.39%	2.06%	4.05%	5.96%	0.92%	0.00%	0.00%

Drawdowns

LLSCX vs. DSMFX - Drawdown Comparison

The maximum LLSCX drawdown since its inception was -63.97%, which is greater than DSMFX's maximum drawdown of -42.52%. Use the drawdown chart below to compare losses from any high point for LLSCX and DSMFX.

Drawdown Indicators

	LLSCX	DSMFX	Difference
Max Drawdown Largest peak-to-trough decline	-63.97%	-42.52%	-21.45%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-13.93%	+3.46%
Max Drawdown (5Y) Largest decline over 5 years	-28.37%	-30.72%	+2.35%
Max Drawdown (10Y) Largest decline over 10 years	-42.23%	—	—
Current Drawdown Current decline from peak	-7.92%	-9.75%	+1.83%
Average Drawdown Average peak-to-trough decline	-8.90%	-8.91%	+0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	3.64%	+0.04%

Volatility

LLSCX vs. DSMFX - Volatility Comparison

The current volatility for Longleaf Partners Small-Cap Fund (LLSCX) is 3.90%, while Destinations Small-Mid Cap Equity Fund (DSMFX) has a volatility of 6.40%. This indicates that LLSCX experiences smaller price fluctuations and is considered to be less risky than DSMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LLSCX	DSMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	6.40%	-2.50%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	13.28%	-4.05%
Volatility (1Y) Calculated over the trailing 1-year period	15.42%	23.85%	-8.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.00%	20.89%	-3.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.58%	21.90%	+2.68%