DAIOX vs. SPGBX

Last updated Jun 24, 2026

DAIOX (Dunham International Opportunity Bond Fund) and SPGBX (Symmetry Panoramic Global Fixed Income Fund) are both Global Bonds funds. Over the past 5 years, DAIOX returned 1.65%/yr vs 0.11%/yr for SPGBX. A 0.52 correlation means they provide meaningful diversification when combined. DAIOX charges 1.58%/yr vs 0.43%/yr for SPGBX.

Performance

DAIOX vs. SPGBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dunham International Opportunity Bond Fund (DAIOX) and Symmetry Panoramic Global Fixed Income Fund (SPGBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DAIOX achieves a 3.14% return, which is significantly higher than SPGBX's 0.88% return.

DAIOX

• 1D: -0.13%
• 1M: 1.17%
• YTD: 3.14%
• 6M: 3.25%
• 1Y: 6.20%
• 3Y*: 7.22%
• 5Y*: 1.65%
• 10Y*: 1.01%

SPGBX

• 1D: -0.22%
• 1M: 0.77%
• YTD: 0.88%
• 6M: 0.94%
• 1Y: 3.16%
• 3Y*: 3.98%
• 5Y*: 0.11%
• 10Y*: —

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

DAIOX vs. SPGBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DAIOX Dunham International Opportunity Bond Fund	3.14%	5.68%	5.33%	12.18%	-14.11%	-2.18%	3.85%	3.82%	1.44%
SPGBX Symmetry Panoramic Global Fixed Income Fund	0.88%	4.42%	1.26%	8.39%	-12.91%	-2.25%	5.42%	6.33%	2.84%

Correlation

The correlation between DAIOX and SPGBX is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Nov 12, 2018	0.52

The correlation between DAIOX and SPGBX shifts across timeframes, from 0.52 (all time) to 0.67 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

DAIOX vs. SPGBX — Risk / Return Rank

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

DAIOX

DAIOX Risk / Return Rank: 56
DAIOX Sharpe Ratio Rank: 50
DAIOX Sortino Ratio Rank: 63
DAIOX Omega Ratio Rank: 73
DAIOX Calmar Ratio Rank: 44
DAIOX Martin Ratio Rank: 51

SPGBX

SPGBX Risk / Return Rank: 20
SPGBX Sharpe Ratio Rank: 23
SPGBX Sortino Ratio Rank: 23
SPGBX Omega Ratio Rank: 22
SPGBX Calmar Ratio Rank: 18
SPGBX Martin Ratio Rank: 16

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.

DAIOX vs. SPGBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dunham International Opportunity Bond Fund (DAIOX) and Symmetry Panoramic Global Fixed Income Fund (SPGBX). 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.

	DAIOX	SPGBX	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.25	+0.68
Sortino ratio: Return per unit of downside risk	3.03	1.83	+1.20
Omega ratio: Gain probability vs. loss probability	1.44	1.23	+0.21
Calmar ratio: Return relative to maximum drawdown	2.41	1.43	+0.98
Martin ratio: Return relative to average drawdown	9.99	4.02	+5.97

DAIOX vs. SPGBX - Sharpe Ratio Comparison

The current DAIOX Sharpe Ratio is 1.92, which is higher than the SPGBX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of DAIOX and SPGBX, 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

DAIOX vs. SPGBX - Drawdown Comparison

The maximum DAIOX drawdown since its inception was -27.58%, which is greater than SPGBX's maximum drawdown of -17.02%. Use the drawdown chart below to compare losses from any high point for DAIOX and SPGBX.

Drawdown Indicators

	DAIOX	SPGBX	Difference
Max Drawdown Largest peak-to-trough decline	-27.58%	-17.02%	-10.56%
Max Drawdown (1Y) Largest decline over 1 year	-2.58%	-2.38%	-0.20%
Max Drawdown (3Y) Largest decline over 3 years	-3.91%	-3.99%	+0.08%
Max Drawdown (5Y) Largest decline over 5 years	-24.80%	-16.67%	-8.13%
Max Drawdown (10Y) Largest decline over 10 years	-24.96%	—	—
Current Drawdown Current decline from peak	-0.25%	-1.57%	+1.32%
Average Drawdown Average peak-to-trough decline	-9.18%	-5.31%	-3.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.62%	0.84%	-0.22%

Volatility

DAIOX vs. SPGBX - Volatility Comparison

Dunham International Opportunity Bond Fund (DAIOX) has a higher volatility of 0.87% compared to Symmetry Panoramic Global Fixed Income Fund (SPGBX) at 0.79%. This indicates that DAIOX's price experiences larger fluctuations and is considered to be riskier than SPGBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAIOX	SPGBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	0.79%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	2.85%	2.18%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	3.24%	2.73%	+0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.66%	4.77%	-0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.86%	4.30%	+1.56%

DAIOX vs. SPGBX - Expense Ratio Comparison

DAIOX has a 1.58% expense ratio, which is higher than SPGBX's 0.43% expense ratio.

Dividends

DAIOX vs. SPGBX - Dividend Comparison

DAIOX's dividend yield for the trailing twelve months is around 3.94%, more than SPGBX's 3.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DAIOX Dunham International Opportunity Bond Fund	3.94%	4.22%	4.16%	4.56%	7.17%	2.88%	2.23%	0.23%	0.42%	0.11%	1.10%	0.05%
SPGBX Symmetry Panoramic Global Fixed Income Fund	3.70%	4.18%	4.86%	3.30%	1.59%	2.05%	1.35%	2.75%	1.20%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DAIOX and SPGBX in my portfolio?

DAIOX and SPGBX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DAIOX or SPGBX?

DAIOX has higher volatility (0.87%) compared to SPGBX (0.79%). In terms of maximum drawdown, DAIOX dropped -27.58% vs SPGBX's -17.02%.

Which has better risk-adjusted returns?

DAIOX currently has the higher Sharpe Ratio (1.92 vs 1.25), 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.