DCEMX vs. DCDGX
DCEMX (Dunham Emerging Markets Stock Fund) and DCDGX (Dunham Small Cap Growth Fund) are both mutual funds - DCEMX is a Emerging Markets Equities fund managed by Dunham, while DCDGX is a Small Cap Growth Equities fund managed by Dunham. Over the past 10 years, DCEMX returned 6.03%/yr vs 11.93%/yr for DCDGX. Their 0.63 correlation means they have sometimes moved together and sometimes differently. DCEMX charges 2.03%/yr vs 2.83%/yr for DCDGX.
Performance
DCEMX vs. DCDGX - 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 DCDGX's 14.02% return. Over the past 10 years, DCEMX has underperformed DCDGX with an annualized return of 6.03%, while DCDGX has yielded a comparatively higher 11.93% 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%
DCDGX
- 1D
- 2.98%
- 1M
- -5.79%
- 6M
- 8.18%
- YTD
- 14.02%
- 1Y
- 29.78%
- 3Y*
- 13.08%
- 5Y*
- 1.72%
- 10Y*
- 11.93%
- ALL TIME*
- 7.83%
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. DCDGX - 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% |
DCDGX Dunham Small Cap Growth Fund | 14.02% | 11.14% | 13.01% | 20.48% | -33.69% | 4.19% | 67.17% | 23.96% | -4.54% | 28.81% |
Correlation
The correlation between DCEMX and DCDGX is 0.71, 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. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.62 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.63 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2004 | 0.63 |
The correlation between DCEMX and DCDGX shifts across timeframes, from 0.61 (10 years) to 0.71 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DCEMX vs. DCDGX — Risk / Return Rank
DCEMX
DCDGX
DCEMX vs. DCDGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dunham Emerging Markets Stock Fund (DCEMX) and Dunham Small Cap Growth Fund (DCDGX). 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 | DCDGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.19 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.85 | -0.22 |
| Martin ratioReturn relative to average drawdown | 5.97 | 6.67 | -0.70 |
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Drawdowns
DCEMX vs. DCDGX - Drawdown Comparison
The maximum DCEMX drawdown since its inception was -70.65%, which is greater than DCDGX's maximum drawdown of -56.02%. Use the drawdown chart below to compare losses from any high point for DCEMX and DCDGX.
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Drawdown Indicators
| DCEMX | DCDGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.65% | -56.02% | -14.63% |
Max Drawdown (1Y)Largest decline over 1 year | -19.19% | -13.42% | -5.77% |
Max Drawdown (3Y)Largest decline over 3 years | -19.19% | -27.95% | +8.76% |
Max Drawdown (5Y)Largest decline over 5 years | -38.89% | -48.05% | +9.16% |
Max Drawdown (10Y)Largest decline over 10 years | -45.88% | -48.05% | +2.17% |
Current DrawdownCurrent decline from peak | -15.41% | -8.89% | -6.52% |
Average DrawdownAverage peak-to-trough decline | -26.01% | -14.84% | -11.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.24% | 3.75% | +1.49% |
Volatility
DCEMX vs. DCDGX - Volatility Comparison
Dunham Emerging Markets Stock Fund (DCEMX) has a higher volatility of 10.90% compared to Dunham Small Cap Growth Fund (DCDGX) at 7.05%. This indicates that DCEMX's price experiences larger fluctuations and is considered to be riskier than DCDGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DCEMX | DCDGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.90% | 7.05% | +3.85% |
Volatility (6M)Calculated over the trailing 6-month period | 24.24% | 18.73% | +5.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.59% | 23.65% | +2.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.52% | 25.95% | -6.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.87% | 24.89% | -6.02% |
DCEMX vs. DCDGX - Expense Ratio Comparison
DCEMX has a 2.03% expense ratio, which is lower than DCDGX's 2.83% expense ratio.
Dividends
DCEMX vs. DCDGX - Dividend Comparison
DCEMX's dividend yield for the trailing twelve months is around 1.88%, less than DCDGX's 5.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DCDGX Dunham Small Cap Growth Fund | 5.91% | 6.74% | 0.00% | 0.00% | 0.00% | 29.30% | 22.33% | 2.06% | 38.51% | 20.51% | 0.00% | 11.22% |
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 DCDGX have a correlation of 0.71, 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 DCDGX (7.05%). In terms of maximum drawdown, DCEMX dropped -70.65% vs DCDGX's -56.02%.
DCEMX currently has the higher Sharpe Ratio (1.18 vs 1.05), 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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