- ISIN
- US2654586617
- Issuer
- Dunham
- Inception Date
- Dec 9, 2004
- Category
- Emerging Markets Diversified
- Min. Investment
- $5,000
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
DCEMX Performance Chart
Dunham Emerging Markets Stock Fund (DCEMX) is up 34.2% since the beginning of the year. DCEMX is currently trading at $21 per share. Investors who bought $1,000 worth of DCEMX shares 5 years ago would now be looking at an investment worth $1,315.
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Returns By Period
Dunham Emerging Markets Stock Fund (DCEMX) has returned 34.17% so far this year and 59.50% over the past 12 months. Over the last ten years, DCEMX has returned 8.36% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Dunham Emerging Markets Stock Fund
- 1D
- 3.83%
- 1M
- 6.26%
- YTD
- 34.17%
- 6M
- 36.54%
- 1Y
- 59.50%
- 3Y*
- 21.27%
- 5Y*
- 5.63%
- 10Y*
- 8.36%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
DCEMX Monthly Returns History
Based on dividend-adjusted daily data since Dec 10, 2004, DCEMX's average daily return is +0.03%, while the average monthly return is +0.58%. At this rate, an investment would double in approximately 10.0 years.
Historically, 57% of months were positive and 43% were negative. The best month was May 2009 with a return of +26.4%, while the worst month was Oct 2008 at -25.8%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 6 months.
On a daily basis, DCEMX closed higher 52% of trading days. The best single day was Oct 30, 2008 with a return of +8.8%, while the worst single day was Dec 27, 2005 at -15.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.38% | 6.87% | -9.89% | 15.18% | 7.09% | 3.26% | 34.17% | ||||||
| 2025 | -0.08% | -0.24% | 1.87% | 0.56% | 3.57% | 6.13% | 0.43% | 2.01% | 6.91% | 4.55% | -3.22% | 3.63% | 28.90% |
| 2024 | -3.14% | 4.74% | 1.51% | -0.50% | 1.91% | 5.04% | -1.86% | 0.79% | 2.74% | -3.89% | -2.14% | 0.00% | 4.84% |
| 2023 | 10.00% | -7.86% | 2.84% | -2.68% | -1.15% | 4.31% | 3.45% | -5.50% | -3.79% | -2.84% | 8.01% | 2.83% | 6.16% |
| 2022 | -1.82% | -5.28% | -4.93% | -6.40% | 1.30% | -4.82% | -1.52% | -1.03% | -11.27% | -3.71% | 15.82% | -2.80% | -25.20% |
| 2021 | 2.91% | 1.44% | -2.79% | 1.12% | -0.44% | 0.22% | -5.24% | 1.70% | -3.64% | 2.40% | -5.04% | 0.25% | -7.30% |
Benchmark Metrics
Dunham Emerging Markets Stock Fund has an annualized alpha of -1.53%, beta of 0.78, and R2 of 0.55 versus S&P 500 Index. Calculated based on daily prices since December 10, 2004.
- This fund participated in 107.60% of S&P 500 Index downside but only 88.30% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- -1.53%
- Beta
- 0.78
- R²
- 0.55
- Upside Capture
- 88.30%
- Downside Capture
- 107.60%
Expense Ratio
DCEMX has a high expense ratio of 2.03%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
DCEMX ranks 81 for risk / return — in the top 81% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Dunham Emerging Markets Stock Fund (DCEMX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DCEMX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.37 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.28 | 2.78 | +1.50 |
| Martin ratioReturn relative to average drawdown | 15.26 | 12.44 | +2.82 |
Dividends
Dividend History
Dunham Emerging Markets Stock Fund provided a 1.61% dividend yield over the last twelve months, with an annual payout of $0.34 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.34 | $0.34 | $0.00 | $0.01 | $0.00 | $1.40 | $0.00 | $0.04 | $0.12 | $0.06 | $0.14 |
Dividend yield | 1.61% | 2.17% | 0.00% | 0.12% | 0.00% | 9.47% | 0.00% | 0.26% | 1.00% | 0.38% | 1.27% |
Monthly Dividends
The table displays the monthly dividend distributions for Dunham Emerging Markets Stock Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.34 | $0.34 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.40 | $1.40 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Dunham Emerging Markets Stock Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Dunham Emerging Markets Stock Fund was 70.65%, occurring on Nov 20, 2008. Recovery took 3053 trading sessions.
The current Dunham Emerging Markets Stock Fund drawdown is 0.57%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -70.65%Nov 2008 | 1y 20d | 12y 1mo | 13y 2moNov 2007 - Jan 2021 |
Bear market2022 | -45.88%Oct 2022 | 1y 8mo | 3y 3mo | 4y 11moFeb 2021 - Feb 2026 |
2006 bear market2006 | -20.05%Jun 2006 | 1mo 3d | 5mo 5d | 6mo 8dMay 2006 - Nov 2006 |
2007 correction2007 | -19.94%Aug 2007 | 23d | 2mo 11d | 3mo 4dJul 2007 - Oct 2007 |
2005 correction2005 | -15.68%Dec 2005 | 0s | 3mo 8d | 3mo 8dDec 2005 - Apr 2006 |
Drawdown Indicators
| DCEMX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.65% | -56.78% | -13.87% |
Max Drawdown (1Y)Largest decline over 1 year | -13.89% | -9.10% | -4.79% |
Max Drawdown (3Y)Largest decline over 3 years | -16.83% | -18.90% | +2.07% |
Max Drawdown (5Y)Largest decline over 5 years | -40.74% | -25.43% | -15.31% |
Max Drawdown (10Y)Largest decline over 10 years | -45.88% | -33.92% | -11.96% |
Current DrawdownCurrent decline from peak | -0.57% | -1.80% | +1.23% |
Average DrawdownAverage peak-to-trough decline | -26.09% | -10.71% | -15.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.89% | 2.03% | +1.86% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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