DCAIX vs. DAIOX
DCAIX (Dunham Long/Short Credit Fund) and DAIOX (Dunham International Opportunity Bond Fund) are both mutual funds - DCAIX is a Nontraditional Bonds fund managed by Dunham, while DAIOX is a Global Bonds fund managed by Dunham. Over the past 10 years, DCAIX returned 3.20%/yr vs 0.75%/yr for DAIOX. Their -0.00 correlation means they have often moved in opposite directions in the past. DCAIX charges 1.98%/yr vs 1.58%/yr for DAIOX.
Performance
DCAIX vs. DAIOX - Performance Comparison
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Returns By Period
In the year-to-date period, DCAIX achieves a 0.80% return, which is significantly lower than DAIOX's 2.16% return. Over the past 10 years, DCAIX has outperformed DAIOX with an annualized return of 3.20%, while DAIOX has yielded a comparatively lower 0.75% annualized return.
DCAIX
- 1D
- -0.36%
- 1M
- -0.49%
- 6M
- 0.46%
- YTD
- 0.80%
- 1Y
- 1.58%
- 3Y*
- 2.83%
- 5Y*
- 0.98%
- 10Y*
- 3.20%
- ALL TIME*
- 2.67%
DAIOX
- 1D
- -0.25%
- 1M
- -0.88%
- 6M
- 1.13%
- YTD
- 2.16%
- 1Y
- 3.92%
- 3Y*
- 6.51%
- 5Y*
- 1.34%
- 10Y*
- 0.75%
- ALL TIME*
- 0.42%
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 |
DCAIX vs. DAIOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DCAIX Dunham Long/Short Credit Fund | 0.80% | 2.47% | 3.78% | 0.60% | -2.64% | 1.47% | 4.11% | 5.81% | 4.17% | 10.40% |
DAIOX Dunham International Opportunity Bond Fund | 2.16% | 5.68% | 5.33% | 12.18% | -14.11% | -2.18% | 3.85% | 3.82% | -5.00% | 9.50% |
Correlation
The correlation between DCAIX and DAIOX is 0.19, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.19 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2013 | -0.00 |
The correlation between DCAIX and DAIOX shifts across timeframes, from -0.00 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DCAIX vs. DAIOX — Risk / Return Rank
DCAIX
DAIOX
DCAIX vs. DAIOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dunham Long/Short Credit Fund (DCAIX) and Dunham International Opportunity Bond Fund (DAIOX). 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.
| DCAIX | DAIOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.25 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 1.47 | +2.04 |
| Martin ratioReturn relative to average drawdown | 12.94 | 5.78 | +7.17 |
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Drawdowns
DCAIX vs. DAIOX - Drawdown Comparison
The maximum DCAIX drawdown since its inception was -46.34%, which is greater than DAIOX's maximum drawdown of -27.58%. Use the drawdown chart below to compare losses from any high point for DCAIX and DAIOX.
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Drawdown Indicators
| DCAIX | DAIOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.34% | -27.58% | -18.76% |
Max Drawdown (1Y)Largest decline over 1 year | -0.49% | -2.58% | +2.09% |
Max Drawdown (3Y)Largest decline over 3 years | -0.85% | -3.91% | +3.06% |
Max Drawdown (5Y)Largest decline over 5 years | -5.45% | -24.80% | +19.35% |
Max Drawdown (10Y)Largest decline over 10 years | -6.53% | -24.96% | +18.43% |
Current DrawdownCurrent decline from peak | -0.49% | -1.20% | +0.71% |
Average DrawdownAverage peak-to-trough decline | -5.93% | -9.10% | +3.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.13% | 0.66% | -0.53% |
Volatility
DCAIX vs. DAIOX - Volatility Comparison
The current volatility for Dunham Long/Short Credit Fund (DCAIX) is 0.42%, while Dunham International Opportunity Bond Fund (DAIOX) has a volatility of 0.72%. This indicates that DCAIX experiences smaller price fluctuations and is considered to be less risky than DAIOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DCAIX | DAIOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | 0.72% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 0.79% | 2.85% | -2.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.07% | 3.25% | -2.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.58% | 4.67% | -3.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 5.81% | -2.02% |
DCAIX vs. DAIOX - Expense Ratio Comparison
DCAIX has a 1.98% expense ratio, which is higher than DAIOX's 1.58% expense ratio.
Dividends
DCAIX vs. DAIOX - Dividend Comparison
DCAIX's dividend yield for the trailing twelve months is around 3.30%, less than DAIOX's 3.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DAIOX Dunham International Opportunity Bond Fund | 3.60% | 4.22% | 4.16% | 4.56% | 7.17% | 2.88% | 2.23% | 0.23% | 0.42% | 0.11% | 1.10% | 0.05% |
DCAIX Dunham Long/Short Credit Fund | 3.30% | 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
DCAIX and DAIOX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DAIOX has higher volatility (0.72%) compared to DCAIX (0.42%). In terms of maximum drawdown, DCAIX dropped -46.34% vs DAIOX's -27.58%.
DCAIX currently has the higher Sharpe Ratio (1.60 vs 1.17), 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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