Fund Evaluator:

Dana Large Cap Equity Institutional Overview

Dana Large Cap Equity Institutional (DLCIX) is an actively managed U.S. Equity Large Blend fund. Dana Investment launched the fund in 2013.

The investment seeks long-term growth of capital. The fund seeks to achieve its investment objective through investment in publicly-traded equity securities using a disciplined, risk-controlled investment process. At least 80% of the fund's net assets will be invested in large cap equity securities, which the Adviser defines as companies having a market capitalization of over $10 billion at the time of purchase. While the fund selects stocks from the 700 largest companies, it may also invest a portion of its assets in equity securities of companies of any size, including what are commonly referred to as small-cap and mid-cap companies.

About Dana Large Cap Equity Institutional (DLCIX)

There are 3 members of the management team with an average tenure of 16.43 years: Greg Dahlman (2010), David Stamm (2010), Duane Roberts (2010). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Dana Large Cap Equity Institutional has 47 securities in its portfolio. The top 10 holdings constitute 42.3% 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.

Dana Large Cap Equity Institutional is part of the Equity global asset class and is within the U.S. Equity fund group. Dana Large Cap Equity Institutional has 1.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.2%. There is 1.4% 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). Dana Large Cap Equity Institutional has 0.5% of the portfolio in cash.

Assets Under Management

The fund has $68 million in total assets, which is below the $6 billion average for the Large Blend 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.

DLCIX 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 Dana Large Cap Equity Institutional expense ratio is above average compared to funds in the Large Blend category. Dana Large Cap Equity Institutional has an expense ratio of 0.75%, which is 8% lower than its category average, making the fund expense ratio grade a C. 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. Dana Large Cap Equity Institutional has a portfolio turnover rate of 33%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.

Recently, in the month of July 2026, Dana Large Cap Equity Institutional returned 1.0%, which earned it a grade of B, as the Large Blend category had an average return of 0.4%. 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.

Dana Large Cap Equity Institutional has a trailing yield of 0.35%, which is below the 0.56% 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.

Dana Large Cap Equity Institutional Grades

Year to date, the fund has returned 6.8%, 2.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 16.4% over the past year (grade of D), 18.7% over the past three years (grade of C) and 10.5% per year over the past five years (grade of D) and 13.5% per year over the past 10 years (grade of D).

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