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Prof Snowball writes, DODFX "has trailed its peers only twice in the past decade."
I must be missing something. Am I thickheaded to compare it with OAKIX and SGOIX? If I am doing apples properly, check it yourself, by year for 8/7/6/5/4/3 years. SGOIX fades recently, yes. So what is the argument here for D&C?
You're missing the idea of consistent (vs. "best") performance.
DODFX was in the bottom half of its category only in 2011 and 2008 out of the last ten years. That's pretty consistent top half performance. In constrast, OAKIX was bested by the majority of its peers in 2003, 2004, 2007, and 2011.
SGOIX only beat its peers in three of the last ten years (2007, 2008, and 2011). It didn't just fade recently, it was in the bottom quintile 2003-2005. It had only one great year (2008, where it lost "only" 21% vs. 45% for its peers), and that was immediately followed by a year where it underperformed its peers by nearly the same amount.
In contrast, even in D&C's worst two years, where it also wound up in the bottom quintile, it underperformed its peers by 3% and 4%. Not great, but no catastrophe - nice, steady performance.
Reply to @msf: Oh, I get steadiness, sure, but did you look at the 10k-growth graphs, rather than the individual yearlies? I don't care so much about score and victory by period (I stay invested, don't jump in and out) as doing well in the game overall and over time. Not a lot of inconsistency in the other two, though maybe I should not have included SGOIX. Lipper rates OAKIX consistency the same as D&C, fwiw. Just thought the DS comment odd.
Reply to @davidrmoran: Not sure why you think the comment was odd. It's just fact. David didn't compare DODFX to any other specific fund, just it's peer group using yearly results.
Reply to @MikeM: Got it. That's what I find odd, to do such a comparison, when the 10k-growth graph tells one so much more via resets of the start point.
Comments
DODFX was in the bottom half of its category only in 2011 and 2008 out of the last ten years. That's pretty consistent top half performance. In constrast, OAKIX was bested by the majority of its peers in 2003, 2004, 2007, and 2011.
SGOIX only beat its peers in three of the last ten years (2007, 2008, and 2011). It didn't just fade recently, it was in the bottom quintile 2003-2005. It had only one great year (2008, where it lost "only" 21% vs. 45% for its peers), and that was immediately followed by a year where it underperformed its peers by nearly the same amount.
In contrast, even in D&C's worst two years, where it also wound up in the bottom quintile, it underperformed its peers by 3% and 4%. Not great, but no catastrophe - nice, steady performance.