ASCIX vs. DCAIX
ASCIX (Angel Oak Strategic Credit Fund) and DCAIX (Dunham Long/Short Credit Fund) are both Nontraditional Bonds funds. Over the past 5 years, ASCIX returned 7.30%/yr vs 1.06%/yr for DCAIX. Their 0.05 correlation means their historical movements had little consistent relationship. ASCIX charges 0.85%/yr vs 1.98%/yr for DCAIX.
Performance
ASCIX vs. DCAIX - Performance Comparison
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Returns By Period
In the year-to-date period, ASCIX achieves a 2.99% return, which is significantly higher than DCAIX's 1.17% return.
ASCIX
- 1D
- -0.05%
- 1M
- -0.29%
- 6M
- 2.20%
- YTD
- 2.99%
- 1Y
- 5.39%
- 3Y*
- 8.87%
- 5Y*
- 7.30%
- 10Y*
- —
- ALL TIME*
- 6.48%
DCAIX
- 1D
- 0.00%
- 1M
- -0.12%
- 6M
- 0.83%
- YTD
- 1.17%
- 1Y
- 1.95%
- 3Y*
- 3.00%
- 5Y*
- 1.06%
- 10Y*
- 3.17%
- ALL TIME*
- 2.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
ASCIX vs. DCAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ASCIX Angel Oak Strategic Credit Fund | 2.99% | 8.04% | 11.06% | 11.95% | -4.79% | 14.93% | 1.51% | 7.80% | 3.51% | 0.00% |
DCAIX Dunham Long/Short Credit Fund | 1.17% | 2.47% | 3.78% | 0.60% | -2.64% | 1.47% | 4.11% | 5.81% | 4.17% | -0.07% |
Correlation
The correlation between ASCIX and DCAIX is 0.13, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.13 |
Correlation (3Y) Balances recent behavior with more history. | 0.07 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Dec 26, 2017 | 0.05 |
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Return for Risk
ASCIX vs. DCAIX — Risk / Return Rank
ASCIX
DCAIX
ASCIX vs. DCAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Angel Oak Strategic Credit Fund (ASCIX) and Dunham Long/Short Credit Fund (DCAIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| ASCIX | DCAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.72 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 4.41 | 5.84 | -1.43 |
| Martin ratioReturn relative to average drawdown | 12.31 | 17.05 | -4.74 |
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Drawdowns
ASCIX vs. DCAIX - Drawdown Comparison
The maximum ASCIX drawdown since its inception was -25.70%, smaller than the maximum DCAIX drawdown of -46.34%. Use the drawdown chart below to compare losses from any high point for ASCIX and DCAIX.
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Drawdown Indicators
| ASCIX | DCAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.70% | -46.34% | +20.64% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -0.37% | -1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -1.49% | -0.85% | -0.64% |
Max Drawdown (5Y)Largest decline over 5 years | -7.54% | -5.45% | -2.09% |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.53% | — |
Current DrawdownCurrent decline from peak | -0.34% | -0.12% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -1.84% | -5.93% | +4.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 0.13% | +0.40% |
Volatility
ASCIX vs. DCAIX - Volatility Comparison
Angel Oak Strategic Credit Fund (ASCIX) has a higher volatility of 0.35% compared to Dunham Long/Short Credit Fund (DCAIX) at 0.25%. This indicates that ASCIX's price experiences larger fluctuations and is considered to be riskier than DCAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ASCIX | DCAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.35% | 0.25% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 1.98% | 0.70% | +1.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.30% | 1.00% | +2.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.51% | 1.57% | +1.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.37% | 3.79% | +1.58% |
ASCIX vs. DCAIX - Expense Ratio Comparison
ASCIX has a 0.85% expense ratio, which is lower than DCAIX's 1.98% expense ratio.
Dividends
ASCIX vs. DCAIX - Dividend Comparison
ASCIX's dividend yield for the trailing twelve months is around 7.76%, more than DCAIX's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASCIX Angel Oak Strategic Credit Fund | 7.76% | 8.55% | 8.76% | 8.40% | 8.04% | 13.64% | 8.74% | 6.97% | 6.14% | 0.00% | 0.00% | 0.00% |
DCAIX Dunham Long/Short Credit Fund | 3.28% | 3.79% | 3.72% | 4.04% | 2.63% | 2.25% | 2.39% | 2.27% | 1.31% | 1.33% | 2.28% | 5.72% |
Frequently Asked Questions
ASCIX and DCAIX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ASCIX has higher volatility (0.35%) compared to DCAIX (0.25%). In terms of maximum drawdown, ASCIX dropped -25.70% vs DCAIX's -46.34%.
DCAIX currently has the higher Sharpe Ratio (2.18 vs 2.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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