DAFGX vs. DCSVX

Last updated Jun 3, 2026

DAFGX (Dunham Focused Large Cap Growth Fund) and DCSVX (Dunham Small Cap Value Fund) are both mutual funds - DAFGX is a Large Cap Growth Equities fund managed by Dunham, while DCSVX is a Small Cap Value Equities fund managed by Dunham. Over the past 10 years, DAFGX returned 13.28%/yr vs 7.36%/yr for DCSVX. A 0.59 correlation means they provide meaningful diversification when combined. DAFGX charges 1.37%/yr vs 2.05%/yr for DCSVX.

Performance

DAFGX vs. DCSVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dunham Focused Large Cap Growth Fund (DAFGX) and Dunham Small Cap Value Fund (DCSVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DAFGX achieves a 5.29% return, which is significantly lower than DCSVX's 18.25% return. Over the past 10 years, DAFGX has outperformed DCSVX with an annualized return of 13.28%, while DCSVX has yielded a comparatively lower 7.36% annualized return.

DAFGX

• 1D: 1.38%
• 1M: 11.40%
• YTD: 5.29%
• 6M: 3.01%
• 1Y: 5.53%
• 3Y*: 11.09%
• 5Y*: 4.73%
• 10Y*: 13.28%

DCSVX

• 1D: 0.29%
• 1M: 1.79%
• YTD: 18.25%
• 6M: 19.80%
• 1Y: 40.71%
• 3Y*: 10.80%
• 5Y*: 3.81%
• 10Y*: 7.36%

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

DAFGX vs. DCSVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DAFGX Dunham Focused Large Cap Growth Fund	5.29%	1.72%	11.42%	54.81%	-38.96%	13.01%	49.42%	35.17%	9.80%	26.10%
DCSVX Dunham Small Cap Value Fund	18.25%	8.67%	-8.49%	14.23%	-13.01%	31.15%	-3.67%	20.13%	-12.04%	7.93%

Correlation

The correlation between DAFGX and DCSVX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Dec 9, 2011	0.59

The correlation between DAFGX and DCSVX shifts across timeframes, from 0.46 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DAFGX vs. DCSVX — Risk / Return Rank

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

DAFGX

DAFGX Risk / Return Rank: 4
DAFGX Sharpe Ratio Rank: 4
DAFGX Sortino Ratio Rank: 4
DAFGX Omega Ratio Rank: 5
DAFGX Calmar Ratio Rank: 4
DAFGX Martin Ratio Rank: 3

DCSVX

DCSVX Risk / Return Rank: 69
DCSVX Sharpe Ratio Rank: 68
DCSVX Sortino Ratio Rank: 65
DCSVX Omega Ratio Rank: 56
DCSVX Calmar Ratio Rank: 82
DCSVX Martin Ratio Rank: 74

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.

DAFGX vs. DCSVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dunham Focused Large Cap Growth Fund (DAFGX) and Dunham Small Cap Value Fund (DCSVX). 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.

	DAFGX	DCSVX	Difference
Sharpe ratio Return per unit of total volatility	0.33	2.41	-2.08
Sortino ratio Return per unit of downside risk	0.58	3.38	-2.80
Omega ratio Gain probability vs. loss probability	1.07	1.42	-0.34
Calmar ratio Return relative to maximum drawdown	0.23	3.77	-3.54
Martin ratio Return relative to average drawdown	0.55	13.98	-13.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DAFGX vs. DCSVX - Sharpe Ratio Comparison

The current DAFGX Sharpe Ratio is 0.33, which is lower than the DCSVX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of DAFGX and DCSVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DAFGX	DCSVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.33	2.41	-2.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.18	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.32	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.22	+0.32

Drawdowns

DAFGX vs. DCSVX - Drawdown Comparison

The maximum DAFGX drawdown since its inception was -47.69%, smaller than the maximum DCSVX drawdown of -62.83%. Use the drawdown chart below to compare losses from any high point for DAFGX and DCSVX.

Drawdown Indicators

	DAFGX	DCSVX	Difference
Max Drawdown Largest peak-to-trough decline	-47.69%	-62.83%	+15.14%
Max Drawdown (1Y) Largest decline over 1 year	-27.70%	-10.55%	-17.15%
Max Drawdown (3Y) Largest decline over 3 years	-34.81%	-37.13%	+2.32%
Max Drawdown (5Y) Largest decline over 5 years	-47.69%	-37.13%	-10.56%
Max Drawdown (10Y) Largest decline over 10 years	-47.69%	-46.71%	-0.98%
Current Drawdown Current decline from peak	-11.27%	-0.22%	-11.05%
Average Drawdown Average peak-to-trough decline	-9.55%	-11.86%	+2.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.89%	2.84%	+9.05%

Volatility

DAFGX vs. DCSVX - Volatility Comparison

Dunham Focused Large Cap Growth Fund (DAFGX) and Dunham Small Cap Value Fund (DCSVX) have volatilities of 4.57% and 4.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAFGX	DCSVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.57%	4.57%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	14.66%	11.60%	+3.06%
Volatility (1Y) Calculated over the trailing 1-year period	18.98%	16.94%	+2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.16%	21.53%	+4.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.39%	23.38%	+2.01%

DAFGX vs. DCSVX - Expense Ratio Comparison

DAFGX has a 1.37% expense ratio, which is lower than DCSVX's 2.05% expense ratio.

Dividends

DAFGX vs. DCSVX - Dividend Comparison

DAFGX's dividend yield for the trailing twelve months is around 15.68%, more than DCSVX's 6.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DAFGX Dunham Focused Large Cap Growth Fund	15.68%	16.51%	0.00%	2.40%	0.00%	8.61%	2.31%	3.33%	8.90%	0.95%	0.00%	0.58%
DCSVX Dunham Small Cap Value Fund	6.32%	7.47%	0.00%	3.00%	10.28%	13.90%	0.21%	0.00%	15.82%	12.82%	3.28%	3.92%

Frequently Asked Questions

Can I hold both DAFGX and DCSVX in my portfolio?

DAFGX and DCSVX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DAFGX or DCSVX?

DCSVX has higher volatility (4.57%) compared to DAFGX (4.57%). In terms of maximum drawdown, DAFGX dropped -47.69% vs DCSVX's -62.83%.

Which has better risk-adjusted returns?

DCSVX currently has the higher Sharpe Ratio (2.41 vs 0.33), 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.