DCHYX vs. FIQTX

Last updated Apr 2, 2026

Compare and contrast key facts about Dunham High Yield Bond Fund (DCHYX) and Fidelity Advisor High Income Advantage Fund Class Z (FIQTX).

DCHYX is managed by Dunham. It was launched on Jul 1, 2005. FIQTX is managed by Fidelity. It was launched on Oct 2, 2018.

Performance

DCHYX vs. FIQTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dunham High Yield Bond Fund (DCHYX) and Fidelity Advisor High Income Advantage Fund Class Z (FIQTX). The values are adjusted to include any dividend payments, if applicable.

DCHYX vs. FIQTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DCHYX Dunham High Yield Bond Fund	-1.31%	6.74%	5.42%	13.87%	-10.93%	4.22%	6.92%	13.64%	-4.85%
FIQTX Fidelity Advisor High Income Advantage Fund Class Z	0.47%	12.17%	10.38%	12.37%	-11.16%	11.13%	9.06%	17.93%	-6.84%

Returns By Period

In the year-to-date period, DCHYX achieves a -1.31% return, which is significantly lower than FIQTX's 0.47% return.

DCHYX

• 1D: 0.00%
• 1M: -1.62%
• YTD: -1.31%
• 6M: -0.57%
• 1Y: 5.13%
• 3Y*: 7.00%
• 5Y*: 3.09%
• 10Y*: 4.52%

FIQTX

• 1D: 1.21%
• 1M: -1.84%
• YTD: 0.47%
• 6M: 1.90%
• 1Y: 13.62%
• 3Y*: 10.49%
• 5Y*: 5.80%
• 10Y*: —

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

DCHYX vs. FIQTX - Expense Ratio Comparison

DCHYX has a 1.92% expense ratio, which is higher than FIQTX's 0.64% expense ratio.

DCHYX

Dunham High Yield Bond Fund

FIQTX

Fidelity Advisor High Income Advantage Fund Class Z

Return for Risk

DCHYX vs. FIQTX — Risk / Return Rank

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

DCHYX

DCHYX Risk / Return Rank: 71
DCHYX Sharpe Ratio Rank: 78
DCHYX Sortino Ratio Rank: 75
DCHYX Omega Ratio Rank: 84
DCHYX Calmar Ratio Rank: 53
DCHYX Martin Ratio Rank: 63

FIQTX

FIQTX Risk / Return Rank: 94
FIQTX Sharpe Ratio Rank: 93
FIQTX Sortino Ratio Rank: 93
FIQTX Omega Ratio Rank: 92
FIQTX Calmar Ratio Rank: 95
FIQTX Martin Ratio Rank: 96

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.

DCHYX vs. FIQTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dunham High Yield Bond Fund (DCHYX) and Fidelity Advisor High Income Advantage Fund Class Z (FIQTX). 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.

	DCHYX	FIQTX	Difference
Sharpe ratio Return per unit of total volatility	1.52	2.08	-0.57
Sortino ratio Return per unit of downside risk	2.04	2.90	-0.87
Omega ratio Gain probability vs. loss probability	1.36	1.44	-0.07
Calmar ratio Return relative to maximum drawdown	1.55	3.30	-1.75
Martin ratio Return relative to average drawdown	7.03	14.47	-7.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DCHYX vs. FIQTX - Sharpe Ratio Comparison

The current DCHYX Sharpe Ratio is 1.52, which is comparable to the FIQTX Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of DCHYX and FIQTX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DCHYX	FIQTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	2.08	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.92	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.83	-0.11

Correlation

The correlation between DCHYX and FIQTX is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DCHYX vs. FIQTX - Dividend Comparison

DCHYX's dividend yield for the trailing twelve months is around 5.09%, more than FIQTX's 4.44% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DCHYX Dunham High Yield Bond Fund	5.09%	5.58%	4.58%	5.47%	5.36%	3.26%	3.74%	4.17%	4.70%	3.67%	4.03%	4.32%
FIQTX Fidelity Advisor High Income Advantage Fund Class Z	4.44%	4.83%	5.06%	4.79%	7.43%	5.01%	3.80%	4.61%	2.54%	0.00%	0.00%	0.00%

Drawdowns

DCHYX vs. FIQTX - Drawdown Comparison

The maximum DCHYX drawdown since its inception was -33.54%, which is greater than FIQTX's maximum drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for DCHYX and FIQTX.

Drawdown Indicators

	DCHYX	FIQTX	Difference
Max Drawdown Largest peak-to-trough decline	-33.54%	-28.49%	-5.05%
Max Drawdown (1Y) Largest decline over 1 year	-3.41%	-4.34%	+0.93%
Max Drawdown (5Y) Largest decline over 5 years	-15.01%	-15.16%	+0.15%
Max Drawdown (10Y) Largest decline over 10 years	-18.26%	—	—
Current Drawdown Current decline from peak	-2.01%	-1.95%	-0.06%
Average Drawdown Average peak-to-trough decline	-3.61%	-3.37%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	0.99%	-0.24%

Volatility

DCHYX vs. FIQTX - Volatility Comparison

The current volatility for Dunham High Yield Bond Fund (DCHYX) is 1.23%, while Fidelity Advisor High Income Advantage Fund Class Z (FIQTX) has a volatility of 2.65%. This indicates that DCHYX experiences smaller price fluctuations and is considered to be less risky than FIQTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DCHYX	FIQTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	2.65%	-1.42%
Volatility (6M) Calculated over the trailing 6-month period	1.83%	4.31%	-2.48%
Volatility (1Y) Calculated over the trailing 1-year period	3.56%	6.72%	-3.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.75%	6.32%	-1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.14%	8.40%	-3.26%