NLCAX vs. DODGX

Last updated Aug 1, 2026

NLCAX (Voya Large-Cap Growth Fund) and DODGX (Dodge & Cox Stock Fund Class I) are both mutual funds - NLCAX is a Large Cap Growth Equities fund managed by Voya, while DODGX is a Large Cap Value Equities fund actively managed by Dodge & Cox. Over the past 10 years, NLCAX returned 14.38%/yr vs 13.08%/yr for DODGX. Their 0.74 correlation means they have sometimes moved together and sometimes differently. NLCAX charges 0.97%/yr vs 0.51%/yr for DODGX.

Performance

NLCAX vs. DODGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Large-Cap Growth Fund (NLCAX) and Dodge & Cox Stock Fund Class I (DODGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NLCAX achieves a 1.40% return, which is significantly lower than DODGX's 9.15% return. Over the past 10 years, NLCAX has outperformed DODGX with an annualized return of 14.38%, while DODGX has yielded a comparatively lower 13.08% annualized return.

NLCAX

• 1D: 3.18%
• 1M: -3.37%
• 6M: 3.20%
• YTD: 1.40%
• 1Y: 7.54%
• 3Y*: 18.49%
• 5Y*: 8.89%
• 10Y*: 14.38%
• ALL TIME*: 9.46%

DODGX

• 1D: -0.11%
• 1M: 2.59%
• 6M: 7.53%
• YTD: 9.15%
• 1Y: 18.56%
• 3Y*: 14.02%
• 5Y*: 10.20%
• 10Y*: 13.08%
• ALL TIME*: 11.27%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DODGX Dodge & Cox Stock Fund Class I	$0.00	$0.00	$0.00
NLCAX Voya Large-Cap Growth Fund	$0.00	$0.00	$0.00

NLCAX vs. DODGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NLCAX Voya Large-Cap Growth Fund	1.40%	14.63%	34.62%	37.74%	-31.26%	18.63%	30.75%	32.35%	-1.91%	29.29%
DODGX Dodge & Cox Stock Fund Class I	9.15%	13.66%	14.36%	17.49%	-7.25%	31.72%	7.10%	24.30%	-7.15%	18.33%

Correlation

The correlation between NLCAX and DODGX is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.29
Correlation (3Y) Balances recent behavior with more history.	0.44
Correlation (5Y) Shows whether the relationship held over a longer period.	0.61
Correlation (10Y) Provides a long-term view across more market conditions.	0.63
Correlation (All Time) Calculated using the full available price history since Jul 15, 1997	0.74

Over the past year, the correlation between NLCAX and DODGX has dropped to 0.29 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

NLCAX vs. DODGX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NLCAX

NLCAX Risk / Return Rank: 11
NLCAX Sharpe Ratio Rank: 11
NLCAX Sortino Ratio Rank: 11
NLCAX Omega Ratio Rank: 11
NLCAX Calmar Ratio Rank: 10
NLCAX Martin Ratio Rank: 10

DODGX

DODGX Risk / Return Rank: 56
DODGX Sharpe Ratio Rank: 53
DODGX Sortino Ratio Rank: 54
DODGX Omega Ratio Rank: 48
DODGX Calmar Ratio Rank: 64
DODGX Martin Ratio Rank: 60

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NLCAX vs. DODGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Large-Cap Growth Fund (NLCAX) and Dodge & Cox Stock Fund Class I (DODGX). 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.

	NLCAX	DODGX	Difference
Sharpe ratio: Return per unit of total volatility	0.44	1.33	-0.89
Sortino ratio: Return per unit of downside risk	0.75	1.94	-1.19
Omega ratio: Gain probability vs. loss probability	1.09	1.23	-0.14
Calmar ratio: Return relative to maximum drawdown	0.47	2.05	-1.57
Martin ratio: Return relative to average drawdown	1.44	7.50	-6.06

NLCAX vs. DODGX - Sharpe Ratio Comparison

The current NLCAX Sharpe Ratio is 0.44, which is lower than the DODGX Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of NLCAX and DODGX, 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

NLCAX vs. DODGX - Drawdown Comparison

The maximum NLCAX drawdown since its inception was -76.45%, which is greater than DODGX's maximum drawdown of -63.24%. Use the drawdown chart below to compare losses from any high point for NLCAX and DODGX.

Drawdown Indicators

	NLCAX	DODGX	Difference
Max Drawdown Largest peak-to-trough decline	-76.45%	-63.24%	-13.21%
Max Drawdown (1Y) Largest decline over 1 year	-17.52%	-7.48%	-10.04%
Max Drawdown (3Y) Largest decline over 3 years	-24.76%	-14.89%	-9.87%
Max Drawdown (5Y) Largest decline over 5 years	-35.36%	-21.85%	-13.51%
Max Drawdown (10Y) Largest decline over 10 years	-35.36%	-40.41%	+5.05%
Current Drawdown Current decline from peak	-8.62%	-0.45%	-8.17%
Average Drawdown Average peak-to-trough decline	-31.13%	-7.49%	-23.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.57%	2.06%	+3.51%

Volatility

NLCAX vs. DODGX - Volatility Comparison

Voya Large-Cap Growth Fund (NLCAX) has a higher volatility of 6.59% compared to Dodge & Cox Stock Fund Class I (DODGX) at 3.37%. This indicates that NLCAX's price experiences larger fluctuations and is considered to be riskier than DODGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NLCAX	DODGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.59%	3.37%	+3.22%
Volatility (6M) Calculated over the trailing 6-month period	15.08%	8.41%	+6.67%
Volatility (1Y) Calculated over the trailing 1-year period	18.74%	11.52%	+7.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.50%	15.88%	+6.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.43%	19.09%	+2.34%

NLCAX vs. DODGX - Expense Ratio Comparison

NLCAX has a 0.97% expense ratio, which is higher than DODGX's 0.51% expense ratio.

Dividends

NLCAX vs. DODGX - Dividend Comparison

NLCAX's dividend yield for the trailing twelve months is around 15.94%, more than DODGX's 8.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DODGX Dodge & Cox Stock Fund Class I	8.80%	9.86%	8.20%	3.76%	5.47%	3.22%	6.74%	10.23%	9.69%	6.78%	6.26%	5.36%
NLCAX Voya Large-Cap Growth Fund	15.94%	16.16%	4.69%	0.00%	24.97%	18.15%	13.40%	4.61%	7.42%	5.86%	5.52%	7.37%

Frequently Asked Questions

Can I hold both NLCAX and DODGX in my portfolio?

NLCAX and DODGX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NLCAX or DODGX?

NLCAX has higher volatility (6.59%) compared to DODGX (3.37%). In terms of maximum drawdown, NLCAX dropped -76.45% vs DODGX's -63.24%.

Which has better risk-adjusted returns?

DODGX currently has the higher Sharpe Ratio (1.33 vs 0.44), 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.