CFRIX vs. DAFRX

Last updated Jul 14, 2026

CFRIX (Catalyst/CIFC Floating Rate Income Fund) and DAFRX (Dunham Floating Rate Bond Fund) are both Bank Loan funds. Over the past 10 years, CFRIX returned 5.27%/yr vs 3.93%/yr for DAFRX. A 0.53 correlation means they provide meaningful diversification when combined. CFRIX charges 0.90%/yr vs 1.29%/yr for DAFRX.

Performance

CFRIX vs. DAFRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Catalyst/CIFC Floating Rate Income Fund (CFRIX) and Dunham Floating Rate Bond Fund (DAFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CFRIX achieves a 1.06% return, which is significantly lower than DAFRX's 2.24% return. Over the past 10 years, CFRIX has outperformed DAFRX with an annualized return of 5.27%, while DAFRX has yielded a comparatively lower 3.93% annualized return.

CFRIX

• 1D: 0.00%
• 1M: 0.57%
• 6M: 0.95%
• YTD: 1.06%
• 1Y: 4.20%
• 3Y*: 6.96%
• 5Y*: 4.72%
• 10Y*: 5.27%

DAFRX

• 1D: 0.00%
• 1M: 0.22%
• 6M: 1.76%
• YTD: 2.24%
• 1Y: 3.84%
• 3Y*: 6.88%
• 5Y*: 5.09%
• 10Y*: 3.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CFRIX vs. DAFRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CFRIX Catalyst/CIFC Floating Rate Income Fund	1.06%	6.33%	7.98%	11.65%	-3.87%	3.12%	3.45%	10.05%	0.70%	7.24%
DAFRX Dunham Floating Rate Bond Fund	2.24%	5.04%	7.26%	13.05%	-2.54%	3.51%	-0.09%	7.18%	-1.06%	2.71%

Correlation

The correlation between CFRIX and DAFRX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Nov 5, 2013	0.53

The correlation between CFRIX and DAFRX shifts across timeframes, from 0.45 (3 years) to 0.59 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CFRIX vs. DAFRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CFRIX

CFRIX Risk / Return Rank: 62
CFRIX Sharpe Ratio Rank: 56
CFRIX Sortino Ratio Rank: 84
CFRIX Omega Ratio Rank: 88
CFRIX Calmar Ratio Rank: 40
CFRIX Martin Ratio Rank: 39

DAFRX

DAFRX Risk / Return Rank: 79
DAFRX Sharpe Ratio Rank: 87
DAFRX Sortino Ratio Rank: 89
DAFRX Omega Ratio Rank: 91
DAFRX Calmar Ratio Rank: 73
DAFRX Martin Ratio Rank: 53

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CFRIX vs. DAFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Catalyst/CIFC Floating Rate Income Fund (CFRIX) and Dunham Floating Rate Bond Fund (DAFRX). 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.

	CFRIX	DAFRX	Difference
Sharpe ratio: Return per unit of total volatility	1.68	2.31	-0.63
Sortino ratio: Return per unit of downside risk	3.22	3.62	-0.39
Omega ratio: Gain probability vs. loss probability	1.51	1.56	-0.05
Calmar ratio: Return relative to maximum drawdown	1.92	2.65	-0.73
Martin ratio: Return relative to average drawdown	6.67	8.51	-1.84

CFRIX vs. DAFRX - Sharpe Ratio Comparison

The current CFRIX Sharpe Ratio is 1.68, which is comparable to the DAFRX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of CFRIX and DAFRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CFRIX vs. DAFRX - Drawdown Comparison

The maximum CFRIX drawdown since its inception was -19.18%, roughly equal to the maximum DAFRX drawdown of -19.42%. Use the drawdown chart below to compare losses from any high point for CFRIX and DAFRX.

Drawdown Indicators

	CFRIX	DAFRX	Difference
Max Drawdown Largest peak-to-trough decline	-19.18%	-19.42%	+0.24%
Max Drawdown (1Y) Largest decline over 1 year	-2.19%	-1.45%	-0.74%
Max Drawdown (3Y) Largest decline over 3 years	-2.55%	-3.34%	+0.79%
Max Drawdown (5Y) Largest decline over 5 years	-6.62%	-7.08%	+0.46%
Max Drawdown (10Y) Largest decline over 10 years	-19.18%	-19.42%	+0.24%
Current Drawdown Current decline from peak	0.00%	-0.02%	+0.02%
Average Drawdown Average peak-to-trough decline	-1.23%	-0.96%	-0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	0.45%	+0.18%

Volatility

CFRIX vs. DAFRX - Volatility Comparison

Catalyst/CIFC Floating Rate Income Fund (CFRIX) has a higher volatility of 0.74% compared to Dunham Floating Rate Bond Fund (DAFRX) at 0.34%. This indicates that CFRIX's price experiences larger fluctuations and is considered to be riskier than DAFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CFRIX	DAFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	0.34%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	1.92%	1.29%	+0.63%
Volatility (1Y) Calculated over the trailing 1-year period	2.52%	1.67%	+0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.73%	2.24%	+0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.79%	3.38%	+0.41%

CFRIX vs. DAFRX - Expense Ratio Comparison

CFRIX has a 0.90% expense ratio, which is lower than DAFRX's 1.29% expense ratio.

Dividends

CFRIX vs. DAFRX - Dividend Comparison

CFRIX's dividend yield for the trailing twelve months is around 6.70%, less than DAFRX's 7.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CFRIX Catalyst/CIFC Floating Rate Income Fund	6.70%	6.88%	7.32%	7.13%	3.79%	2.44%	4.06%	5.50%	4.26%	4.50%	5.69%	6.27%
DAFRX Dunham Floating Rate Bond Fund	7.42%	7.26%	7.87%	8.91%	5.76%	3.13%	3.27%	4.36%	4.30%	3.31%	3.01%	3.13%

Frequently Asked Questions

Can I hold both CFRIX and DAFRX in my portfolio?

CFRIX and DAFRX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CFRIX or DAFRX?

CFRIX has higher volatility (0.74%) compared to DAFRX (0.34%). In terms of maximum drawdown, CFRIX dropped -19.18% vs DAFRX's -19.42%.

Which has better risk-adjusted returns?

DAFRX currently has the higher Sharpe Ratio (2.31 vs 1.68), 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.