NMAVX vs. DALCX

Last updated Jun 3, 2026

NMAVX (Nuance Mid Cap Value Fund) and DALCX (Dean Mid Cap Value Fund) are both Mid Cap Value Equities funds. Over the past 10 years, NMAVX returned 7.40%/yr vs 10.52%/yr for DALCX. Their correlation of 0.87 suggests significant overlap in exposure. NMAVX charges 1.22%/yr vs 0.85%/yr for DALCX.

Performance

NMAVX vs. DALCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuance Mid Cap Value Fund (NMAVX) and Dean Mid Cap Value Fund (DALCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NMAVX achieves a 4.74% return, which is significantly lower than DALCX's 11.15% return. Over the past 10 years, NMAVX has underperformed DALCX with an annualized return of 7.40%, while DALCX has yielded a comparatively higher 10.52% annualized return.

NMAVX

• 1D: -0.76%
• 1M: 2.68%
• YTD: 4.74%
• 6M: 5.75%
• 1Y: 12.11%
• 3Y*: 4.80%
• 5Y*: 2.76%
• 10Y*: 7.40%

DALCX

• 1D: -0.64%
• 1M: -0.57%
• YTD: 11.15%
• 6M: 12.36%
• 1Y: 19.18%
• 3Y*: 15.90%
• 5Y*: 10.02%
• 10Y*: 10.52%

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

NMAVX vs. DALCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NMAVX Nuance Mid Cap Value Fund	4.74%	1.91%	5.20%	6.44%	-5.26%	11.10%	4.41%	30.71%	-5.44%	14.81%
DALCX Dean Mid Cap Value Fund	11.15%	9.49%	16.50%	12.82%	-4.68%	28.25%	-2.05%	26.96%	-11.07%	15.11%

Correlation

The correlation between NMAVX and DALCX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 6, 2014	0.87

The correlation between NMAVX and DALCX has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.

Return for Risk

NMAVX vs. DALCX — Risk / Return Rank

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

NMAVX

NMAVX Risk / Return Rank: 12
NMAVX Sharpe Ratio Rank: 13
NMAVX Sortino Ratio Rank: 14
NMAVX Omega Ratio Rank: 12
NMAVX Calmar Ratio Rank: 12
NMAVX Martin Ratio Rank: 10

DALCX

DALCX Risk / Return Rank: 27
DALCX Sharpe Ratio Rank: 26
DALCX Sortino Ratio Rank: 27
DALCX Omega Ratio Rank: 24
DALCX Calmar Ratio Rank: 28
DALCX Martin Ratio Rank: 30

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.

NMAVX vs. DALCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuance Mid Cap Value Fund (NMAVX) and Dean Mid Cap Value Fund (DALCX). 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.

	NMAVX	DALCX	Difference
Sharpe ratio Return per unit of total volatility	1.01	1.48	-0.46
Sortino ratio Return per unit of downside risk	1.57	2.21	-0.64
Omega ratio Gain probability vs. loss probability	1.18	1.26	-0.08
Calmar ratio Return relative to maximum drawdown	1.17	2.01	-0.84
Martin ratio Return relative to average drawdown	3.01	7.08	-4.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NMAVX vs. DALCX - Sharpe Ratio Comparison

The current NMAVX Sharpe Ratio is 1.01, which is lower than the DALCX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of NMAVX and DALCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NMAVX	DALCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	1.48	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.67	-0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.59	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.59	-0.08

Drawdowns

NMAVX vs. DALCX - Drawdown Comparison

The maximum NMAVX drawdown since its inception was -30.93%, smaller than the maximum DALCX drawdown of -41.99%. Use the drawdown chart below to compare losses from any high point for NMAVX and DALCX.

Drawdown Indicators

	NMAVX	DALCX	Difference
Max Drawdown Largest peak-to-trough decline	-30.93%	-41.99%	+11.06%
Max Drawdown (1Y) Largest decline over 1 year	-9.80%	-9.28%	-0.52%
Max Drawdown (3Y) Largest decline over 3 years	-18.40%	-15.64%	-2.76%
Max Drawdown (5Y) Largest decline over 5 years	-18.40%	-15.64%	-2.76%
Max Drawdown (10Y) Largest decline over 10 years	-30.93%	-41.99%	+11.06%
Current Drawdown Current decline from peak	-5.37%	-2.10%	-3.27%
Average Drawdown Average peak-to-trough decline	-3.80%	-4.18%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	2.63%	+1.17%

Volatility

NMAVX vs. DALCX - Volatility Comparison

Nuance Mid Cap Value Fund (NMAVX) has a higher volatility of 3.80% compared to Dean Mid Cap Value Fund (DALCX) at 3.40%. This indicates that NMAVX's price experiences larger fluctuations and is considered to be riskier than DALCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NMAVX	DALCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	3.40%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	8.06%	9.66%	-1.60%
Volatility (1Y) Calculated over the trailing 1-year period	11.54%	12.89%	-1.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.33%	15.13%	-1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.04%	17.80%	-2.76%

NMAVX vs. DALCX - Expense Ratio Comparison

NMAVX has a 1.22% expense ratio, which is higher than DALCX's 0.85% expense ratio.

Dividends

NMAVX vs. DALCX - Dividend Comparison

NMAVX's dividend yield for the trailing twelve months is around 0.95%, less than DALCX's 5.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DALCX Dean Mid Cap Value Fund	5.55%	6.17%	7.23%	5.42%	5.38%	5.42%	0.88%	8.28%	3.50%	2.61%	0.43%	0.14%
NMAVX Nuance Mid Cap Value Fund	0.95%	1.00%	7.55%	1.78%	9.05%	11.98%	0.61%	5.91%	7.16%	7.05%	1.83%	4.24%

Frequently Asked Questions

Can I hold both NMAVX and DALCX in my portfolio?

NMAVX and DALCX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NMAVX or DALCX?

NMAVX has higher volatility (3.80%) compared to DALCX (3.40%). In terms of maximum drawdown, NMAVX dropped -30.93% vs DALCX's -41.99%.

Which has better risk-adjusted returns?

DALCX currently has the higher Sharpe Ratio (1.48 vs 1.01), 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.