DCEMX vs. DAFGX
DCEMX (Dunham Emerging Markets Stock Fund) and DAFGX (Dunham Focused Large Cap Growth Fund) are both mutual funds - DCEMX is a Emerging Markets Equities fund managed by Dunham, while DAFGX is a Large Cap Growth Equities fund managed by Dunham. Over the past 10 years, DCEMX returned 6.03%/yr vs 11.98%/yr for DAFGX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. DCEMX charges 2.03%/yr vs 1.37%/yr for DAFGX.
Performance
DCEMX vs. DAFGX - Performance Comparison
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Returns By Period
In the year-to-date period, DCEMX achieves a 14.96% return, which is significantly higher than DAFGX's -2.60% return. Over the past 10 years, DCEMX has underperformed DAFGX with an annualized return of 6.03%, while DAFGX has yielded a comparatively higher 11.98% annualized return.
DCEMX
- 1D
- 4.68%
- 1M
- -8.02%
- 6M
- 5.11%
- YTD
- 14.96%
- 1Y
- 32.80%
- 3Y*
- 15.09%
- 5Y*
- 3.34%
- 10Y*
- 6.03%
- ALL TIME*
- 3.90%
DAFGX
- 1D
- 3.25%
- 1M
- -4.22%
- 6M
- 2.49%
- YTD
- -2.60%
- 1Y
- -5.81%
- 3Y*
- 5.94%
- 5Y*
- 0.72%
- 10Y*
- 11.98%
- ALL TIME*
- 11.78%
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 |
DCEMX vs. DAFGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DCEMX Dunham Emerging Markets Stock Fund | 14.96% | 28.90% | 4.84% | 6.16% | -25.20% | -7.30% | 23.89% | 21.88% | -20.99% | 32.42% |
DAFGX Dunham Focused Large Cap Growth Fund | -2.60% | 1.72% | 11.42% | 54.81% | -38.96% | 13.01% | 49.42% | 35.17% | 9.80% | 26.10% |
Correlation
The correlation between DCEMX and DAFGX 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. | 0.58 |
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 DCEMX and DAFGX has been stable across timeframes, ranging from 0.58 to 0.64 - a consistent structural relationship.
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Return for Risk
DCEMX vs. DAFGX — Risk / Return Rank
DCEMX
DAFGX
DCEMX vs. DAFGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dunham Emerging Markets Stock Fund (DCEMX) and Dunham Focused Large Cap Growth Fund (DAFGX). 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.
| DCEMX | DAFGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.57 | ||
| Sortino ratioReturn per unit of downside risk | +2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.95 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | -0.30 | +1.93 |
| Martin ratioReturn relative to average drawdown | 5.97 | -0.66 | +6.63 |
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Drawdowns
DCEMX vs. DAFGX - Drawdown Comparison
The maximum DCEMX drawdown since its inception was -70.65%, which is greater than DAFGX's maximum drawdown of -47.69%. Use the drawdown chart below to compare losses from any high point for DCEMX and DAFGX.
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Drawdown Indicators
| DCEMX | DAFGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.65% | -47.69% | -22.96% |
Max Drawdown (1Y)Largest decline over 1 year | -19.19% | -27.70% | +8.51% |
Max Drawdown (3Y)Largest decline over 3 years | -19.19% | -34.81% | +15.62% |
Max Drawdown (5Y)Largest decline over 5 years | -38.89% | -47.69% | +8.80% |
Max Drawdown (10Y)Largest decline over 10 years | -45.88% | -47.69% | +1.81% |
Current DrawdownCurrent decline from peak | -15.41% | -17.92% | +2.51% |
Average DrawdownAverage peak-to-trough decline | -26.01% | -9.61% | -16.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.24% | 12.63% | -7.39% |
Volatility
DCEMX vs. DAFGX - Volatility Comparison
Dunham Emerging Markets Stock Fund (DCEMX) has a higher volatility of 10.90% compared to Dunham Focused Large Cap Growth Fund (DAFGX) at 7.02%. This indicates that DCEMX's price experiences larger fluctuations and is considered to be riskier than DAFGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DCEMX | DAFGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.90% | 7.02% | +3.88% |
Volatility (6M)Calculated over the trailing 6-month period | 24.24% | 17.33% | +6.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.59% | 21.16% | +5.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.52% | 26.49% | -6.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.87% | 25.53% | -6.66% |
DCEMX vs. DAFGX - Expense Ratio Comparison
DCEMX has a 2.03% expense ratio, which is higher than DAFGX's 1.37% expense ratio.
Dividends
DCEMX vs. DAFGX - Dividend Comparison
DCEMX's dividend yield for the trailing twelve months is around 1.88%, less than DAFGX's 16.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DAFGX Dunham Focused Large Cap Growth Fund | 16.95% | 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 | 1.88% | 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
DCEMX and DAFGX 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 (10.90%) compared to DAFGX (7.02%). In terms of maximum drawdown, DCEMX dropped -70.65% vs DAFGX's -47.69%.
DCEMX currently has the higher Sharpe Ratio (1.18 vs -0.40), 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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