Soak the dried fruit in rum or orange juice for 30 minutes; drain and pat dry.
Bloom the yeast by mixing warm milk with 1 tablespoon sugar and the yeast; rest until foamy, 5–10 minutes.
Cream softened butter with remaining sugar until light. Beat in eggs, vanilla, lemon zest, salt, cardamom, and cinnamon.
Stir in the yeast mixture. Mix in half the flour, then the rest, until a soft dough forms.
Knead on a lightly floured surface until smooth and elastic, 7–9 minutes. Knead in fruit, peel, and almonds last.
Place dough in a greased bowl, cover, and let rise until doubled, about 60–75 minutes.
Pat dough into an oval. Set the marzipan log slightly off-center, fold dough over, and seal to create the classic stollen shape.
Transfer to a lined baking sheet, cover, and proof until puffy, 30–45 minutes. Preheat oven to 350°F.
Bake until deep golden and 200°F inside, 35–40 minutes. Brush hot loaf with melted butter.
Shower generously with powdered sugar. Cool completely, then dust again before slicing.