Fund Evaluator:
Dean Equity Income (DAEIX)
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Best Performing in Large Value Over the Last Year
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Fund Details
Dean Equity Income Overview
Dean Equity Income (DAEIX) is an actively managed U.S. Equity Large Value fund. Dean Fund launched the fund in 2022.
The investment seeks long-term capital appreciation with an income focus. The fund will primarily invest in equity securities of U.S. large cap companies. The fund may invest in the applicable securities directly, or indirectly through other investment companies (including exchange-traded funds) that invest primarily in such securities. The fund may also invest in high grade government bonds of varying maturities, typically one to ten years. The fund may from time to time overweight its investments in certain market sectors.
About Dean Equity Income (DAEIX)
There are 1 members of the management team with an average tenure of 3.69 years: Kevin Laub (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 1000 TR USD index with a weighting of 100% and Russell 1000 Value TR USD index with a weighting of 100%. Dean Equity Income has 50 securities in its portfolio. The top 10 holdings constitute 28.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Dean Equity Income is part of the Equity global asset class and is within the U.S. Equity fund group. Dean Equity Income has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 97.4%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Dean Equity Income has 2.6% of the portfolio in cash.
Assets Under Management
The fund has $74 million in total assets, which is below the $1 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DAEIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Dean Equity Income expense ratio is above average compared to funds in the Large Value category. Dean Equity Income has an expense ratio of 0.70%, which is 24% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Dean Equity Income has a portfolio turnover rate of 30%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of July 2026, Dean Equity Income returned 3.9%, which earned it a grade of B, as the Large Value category had an average return of 2.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Dean Equity Income has a trailing yield of 2.71%, which is above the 1.20% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Dean Equity Income Grades
Year to date, the fund has returned 14.0%, 0.3 percentage points worse than the category, which translates into a grade of C. The fund has returned 16.0% over the past year (grade of F) and 10.4% over the past three years (grade of F).
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DAEIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DAEIX Return (NAV) | 3.9% | 4.0% | 16.0% | 10.4% | na | na |
| DAEIX Grade | B | F | F | F | na | na |
| +/- Category | 1.0% | -2.2% | -7.8% | -5.2% | na | na |
| Large Value Avg | 2.9% | 6.2% | 23.8% | 15.7% | 10.9% | 11.3% |
| DAEIX Tax Cost Ratio | na | na | 1.5% | 1.5% | na | na |
DAEIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DAEIX Return (NAV) | 14.0% | 6.0% | 11.2% | 2.3% | na | na | na | na | na | na | na |
| DAEIX Grade | C | F | F | F | na | na | na | na | na | na | na |
| +/- Category | -0.3% | -9.2% | -2.9% | -9.5% | na | na | na | na | na | na | na |
| Large Value Avg | 14.3% | 15.2% | 14.1% | 11.8% | -6.0% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.6% |
| Risk Measures | |
| Standard Deviation: | 11.5% |
| Total Risk Index: | 0.93 - Average |
| Category Risk Index: | 0.95 - Below Average |
| Category Risk Grade: | B (28% Rank) |
| Beta: | 0.47 |
| R-Squared: | 29% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 2.7% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $74 Mil |
| Fund Total Assets: | $ 74 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 30% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 3.7 years | |||
| Average Tenure: 3.7 years | |||
| Managers (Year): Laub Kevin (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 50 |
| % in Top 10 Holdings: | 28.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 97.4% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.6% |
Purchase Information
| Fund Family: | Dean Fund |
| Phone Number: | 888-899-8343 |
| Website: |
| Status: | Open |
| Inception Date: | November 22, 2022 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.70% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Dean Equity Income |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
