DAFGX vs. DCEMX
DAFGX (Dunham Focused Large Cap Growth Fund) and DCEMX (Dunham Emerging Markets Stock Fund) are both mutual funds - DAFGX is a Large Cap Growth Equities fund managed by Dunham, while DCEMX is a Emerging Markets Equities fund managed by Dunham. Over the past 10 years, DAFGX returned 12.32%/yr vs 6.34%/yr for DCEMX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. DAFGX charges 1.37%/yr vs 2.03%/yr for DCEMX.
Performance
DAFGX vs. DCEMX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DAFGX achieves a -0.41% return, which is significantly lower than DCEMX's 17.08% return. Over the past 10 years, DAFGX has outperformed DCEMX with an annualized return of 12.32%, while DCEMX has yielded a comparatively lower 6.34% annualized return.
DAFGX
- 1D
- 2.25%
- 1M
- -2.07%
- 6M
- 5.38%
- YTD
- -0.41%
- 1Y
- -3.70%
- 3Y*
- 6.78%
- 5Y*
- 1.17%
- 10Y*
- 12.32%
- ALL TIME*
- 11.95%
DCEMX
- 1D
- 1.84%
- 1M
- -6.32%
- 6M
- 6.73%
- YTD
- 17.08%
- 1Y
- 35.25%
- 3Y*
- 16.15%
- 5Y*
- 3.72%
- 10Y*
- 6.34%
- ALL TIME*
- 3.99%
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 |
DAFGX vs. DCEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DAFGX Dunham Focused Large Cap Growth Fund | -0.41% | 1.72% | 11.42% | 54.81% | -38.96% | 13.01% | 49.42% | 35.17% | 9.80% | 26.10% |
DCEMX Dunham Emerging Markets Stock Fund | 17.08% | 28.90% | 4.84% | 6.16% | -25.20% | -7.30% | 23.89% | 21.88% | -20.99% | 32.42% |
Correlation
The correlation between DAFGX and DCEMX is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.59 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2011 | 0.60 |
The correlation between DAFGX and DCEMX has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DAFGX vs. DCEMX — Risk / Return Rank
DAFGX
DCEMX
DAFGX vs. DCEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dunham Focused Large Cap Growth Fund (DAFGX) and Dunham Emerging Markets Stock Fund (DCEMX). 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.
| DAFGX | DCEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -2.00 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.24 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | 1.77 | -2.00 |
| Martin ratioReturn relative to average drawdown | -0.48 | 6.40 | -6.88 |
Loading charts...
Drawdowns
DAFGX vs. DCEMX - Drawdown Comparison
The maximum DAFGX drawdown since its inception was -47.69%, smaller than the maximum DCEMX drawdown of -70.65%. Use the drawdown chart below to compare losses from any high point for DAFGX and DCEMX.
Loading charts...
Drawdown Indicators
| DAFGX | DCEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.69% | -70.65% | +22.96% |
Max Drawdown (1Y)Largest decline over 1 year | -27.70% | -19.19% | -8.51% |
Max Drawdown (3Y)Largest decline over 3 years | -34.81% | -19.19% | -15.62% |
Max Drawdown (5Y)Largest decline over 5 years | -47.69% | -38.89% | -8.80% |
Max Drawdown (10Y)Largest decline over 10 years | -47.69% | -45.88% | -1.81% |
Current DrawdownCurrent decline from peak | -16.07% | -13.85% | -2.22% |
Average DrawdownAverage peak-to-trough decline | -9.61% | -26.01% | +16.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.65% | 5.31% | +7.34% |
Volatility
DAFGX vs. DCEMX - Volatility Comparison
The current volatility for Dunham Focused Large Cap Growth Fund (DAFGX) is 7.43%, while Dunham Emerging Markets Stock Fund (DCEMX) has a volatility of 10.98%. This indicates that DAFGX experiences smaller price fluctuations and is considered to be less risky than DCEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DAFGX | DCEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.43% | 10.98% | -3.55% |
Volatility (6M)Calculated over the trailing 6-month period | 17.43% | 24.31% | -6.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.28% | 26.63% | -5.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.50% | 19.53% | +6.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.54% | 18.88% | +6.66% |
DAFGX vs. DCEMX - Expense Ratio Comparison
DAFGX has a 1.37% expense ratio, which is lower than DCEMX's 2.03% expense ratio.
Dividends
DAFGX vs. DCEMX - Dividend Comparison
DAFGX's dividend yield for the trailing twelve months is around 16.58%, more than DCEMX's 1.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DAFGX Dunham Focused Large Cap Growth Fund | 16.58% | 16.51% | 0.00% | 2.40% | 0.00% | 8.61% | 2.31% | 3.33% | 8.90% | 0.95% | 0.00% | 0.58% |
DCEMX Dunham Emerging Markets Stock Fund | 1.85% | 2.17% | 0.00% | 0.12% | 0.00% | 9.47% | 0.00% | 0.26% | 1.00% | 0.38% | 1.27% | 0.00% |
Frequently Asked Questions
DAFGX and DCEMX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DCEMX has higher volatility (10.98%) compared to DAFGX (7.43%). In terms of maximum drawdown, DAFGX dropped -47.69% vs DCEMX's -70.65%.
DCEMX currently has the higher Sharpe Ratio (1.28 vs -0.29), 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.
Find the right allocation for DAFGX and DCEMX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer