DCAIX vs. EIGMX
DCAIX (Dunham Long/Short Credit Fund) and EIGMX (Eaton Vance Global Macro Absolute Return Fund) are both Nontraditional Bonds funds. Over the past 10 years, DCAIX returned 3.70%/yr vs 4.98%/yr for EIGMX. At a 0.14 correlation, their price movements are largely independent. DCAIX charges 1.98%/yr vs 0.76%/yr for EIGMX.
Performance
DCAIX vs. EIGMX - Performance Comparison
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Returns By Period
In the year-to-date period, DCAIX achieves a 1.12% return, which is significantly lower than EIGMX's 4.96% return. Over the past 10 years, DCAIX has underperformed EIGMX with an annualized return of 3.70%, while EIGMX has yielded a comparatively higher 4.98% annualized return.
DCAIX
- 1D
- 0.00%
- 1M
- 0.13%
- YTD
- 1.12%
- 6M
- 1.31%
- 1Y
- 2.44%
- 3Y*
- 3.22%
- 5Y*
- 1.05%
- 10Y*
- 3.70%
EIGMX
- 1D
- 0.11%
- 1M
- 1.00%
- YTD
- 4.96%
- 6M
- 5.41%
- 1Y
- 12.47%
- 3Y*
- 9.05%
- 5Y*
- 6.34%
- 10Y*
- 4.98%
DCAIX vs. EIGMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DCAIX Dunham Long/Short Credit Fund | 1.12% | 2.47% | 3.78% | 0.60% | -2.64% | 1.47% | 4.11% | 5.81% | 4.17% | 10.40% |
EIGMX Eaton Vance Global Macro Absolute Return Fund | 4.96% | 11.37% | 8.69% | 6.99% | -0.47% | 2.19% | 3.59% | 9.76% | -3.29% | 4.29% |
Correlation
The correlation between DCAIX and EIGMX is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2007 | 0.14 |
The correlation between DCAIX and EIGMX shifts across timeframes, from 0.02 (3 years) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DCAIX vs. EIGMX — Risk / Return Rank
DCAIX
EIGMX
DCAIX vs. EIGMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dunham Long/Short Credit Fund (DCAIX) and Eaton Vance Global Macro Absolute Return Fund (EIGMX). 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 | EIGMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.25 | ||
| Sortino ratioReturn per unit of downside risk | -6.75 | ||
| Omega ratioGain probability vs. loss probability | 1.82 | 3.23 | -1.41 |
| Calmar ratioReturn relative to maximum drawdown | 6.55 | 8.68 | -2.13 |
| Martin ratioReturn relative to average drawdown | 20.09 | 31.46 | -11.37 |
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Drawdowns
DCAIX vs. EIGMX - Drawdown Comparison
The maximum DCAIX drawdown since its inception was -46.34%, which is greater than EIGMX's maximum drawdown of -9.42%. Use the drawdown chart below to compare losses from any high point for DCAIX and EIGMX.
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Drawdown Indicators
| DCAIX | EIGMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.34% | -9.42% | -36.92% |
Max Drawdown (1Y)Largest decline over 1 year | -0.37% | -1.44% | +1.07% |
Max Drawdown (3Y)Largest decline over 3 years | -0.85% | -1.63% | +0.78% |
Max Drawdown (5Y)Largest decline over 5 years | -5.45% | -7.39% | +1.94% |
Max Drawdown (10Y)Largest decline over 10 years | -6.53% | -9.42% | +2.89% |
Current DrawdownCurrent decline from peak | -0.12% | 0.00% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -5.96% | -0.92% | -5.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 0.40% | -0.28% |
Volatility
DCAIX vs. EIGMX - Volatility Comparison
The current volatility for Dunham Long/Short Credit Fund (DCAIX) is 0.33%, while Eaton Vance Global Macro Absolute Return Fund (EIGMX) has a volatility of 0.44%. This indicates that DCAIX experiences smaller price fluctuations and is considered to be less risky than EIGMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DCAIX | EIGMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 0.44% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 0.69% | 1.63% | -0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.01% | 1.88% | -0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.58% | 2.61% | -1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.93% | 2.50% | +1.43% |
DCAIX vs. EIGMX - Expense Ratio Comparison
DCAIX has a 1.98% expense ratio, which is higher than EIGMX's 0.76% expense ratio.
Dividends
DCAIX vs. EIGMX - Dividend Comparison
DCAIX's dividend yield for the trailing twelve months is around 3.64%, less than EIGMX's 6.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DCAIX Dunham Long/Short Credit Fund | 3.64% | 3.79% | 3.72% | 4.04% | 2.63% | 2.25% | 2.39% | 2.27% | 1.31% | 1.33% | 2.28% | 5.72% |
EIGMX Eaton Vance Global Macro Absolute Return Fund | 6.63% | 5.72% | 6.16% | 5.79% | 4.78% | 4.18% | 4.37% | 5.44% | 3.72% | 3.42% | 4.02% | 5.54% |
Frequently Asked Questions
DCAIX and EIGMX have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EIGMX has higher volatility (0.44%) compared to DCAIX (0.33%). In terms of maximum drawdown, DCAIX dropped -46.34% vs EIGMX's -9.42%.
EIGMX currently has the higher Sharpe Ratio (6.69 vs 2.44), 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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