DCLVX vs. DCDGX

Last updated Jun 23, 2026

DCLVX (Dunham Large Cap Value Fund) and DCDGX (Dunham Small Cap Growth Fund) are both mutual funds - DCLVX is a Large Cap Value Equities fund managed by Dunham, while DCDGX is a Small Cap Growth Equities fund managed by Dunham. Over the past 10 years, DCLVX returned 9.71%/yr vs 13.42%/yr for DCDGX. A 0.78 correlation means they provide meaningful diversification when combined. DCLVX charges 2.10%/yr vs 2.83%/yr for DCDGX.

Performance

DCLVX vs. DCDGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dunham Large Cap Value Fund (DCLVX) and Dunham Small Cap Growth Fund (DCDGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DCLVX achieves a 10.30% return, which is significantly lower than DCDGX's 22.88% return. Over the past 10 years, DCLVX has underperformed DCDGX with an annualized return of 9.71%, while DCDGX has yielded a comparatively higher 13.42% annualized return.

DCLVX

• 1D: 0.41%
• 1M: 1.16%
• YTD: 10.30%
• 6M: 9.82%
• 1Y: 24.73%
• 3Y*: 14.00%
• 5Y*: 9.36%
• 10Y*: 9.71%

DCDGX

• 1D: 2.69%
• 1M: 5.61%
• YTD: 22.88%
• 6M: 19.33%
• 1Y: 43.57%
• 3Y*: 17.38%
• 5Y*: 3.85%
• 10Y*: 13.42%

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

DCLVX vs. DCDGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DCLVX Dunham Large Cap Value Fund	10.30%	16.84%	9.49%	8.41%	-9.05%	27.52%	1.41%	24.85%	-9.78%	14.06%
DCDGX Dunham Small Cap Growth Fund	22.88%	11.14%	13.01%	20.48%	-33.69%	4.19%	67.17%	23.96%	-4.54%	28.81%

Correlation

The correlation between DCLVX and DCDGX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Dec 10, 2004	0.78

The correlation between DCLVX and DCDGX has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.

Return for Risk

DCLVX vs. DCDGX — Risk / Return Rank

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

DCLVX

DCLVX Risk / Return Rank: 73
DCLVX Sharpe Ratio Rank: 72
DCLVX Sortino Ratio Rank: 69
DCLVX Omega Ratio Rank: 63
DCLVX Calmar Ratio Rank: 78
DCLVX Martin Ratio Rank: 83

DCDGX

DCDGX Risk / Return Rank: 55
DCDGX Sharpe Ratio Rank: 47
DCDGX Sortino Ratio Rank: 43
DCDGX Omega Ratio Rank: 40
DCDGX Calmar Ratio Rank: 73
DCDGX Martin Ratio Rank: 72

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.

DCLVX vs. DCDGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dunham Large Cap Value Fund (DCLVX) 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.

	DCLVX	DCDGX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.86	+0.41
Sortino ratio: Return per unit of downside risk	3.16	2.54	+0.62
Omega ratio: Gain probability vs. loss probability	1.40	1.31	+0.09
Calmar ratio: Return relative to maximum drawdown	3.36	3.17	+0.19
Martin ratio: Return relative to average drawdown	14.40	12.76	+1.64

DCLVX vs. DCDGX - Sharpe Ratio Comparison

The current DCLVX Sharpe Ratio is 2.27, which is comparable to the DCDGX Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of DCLVX and DCDGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DCLVX vs. DCDGX - Drawdown Comparison

The maximum DCLVX drawdown since its inception was -58.91%, which is greater than DCDGX's maximum drawdown of -56.02%. Use the drawdown chart below to compare losses from any high point for DCLVX and DCDGX.

Drawdown Indicators

	DCLVX	DCDGX	Difference
Max Drawdown Largest peak-to-trough decline	-58.91%	-56.02%	-2.89%
Max Drawdown (1Y) Largest decline over 1 year	-7.44%	-13.42%	+5.98%
Max Drawdown (3Y) Largest decline over 3 years	-20.02%	-27.95%	+7.93%
Max Drawdown (5Y) Largest decline over 5 years	-20.16%	-48.05%	+27.89%
Max Drawdown (10Y) Largest decline over 10 years	-36.96%	-48.05%	+11.09%
Current Drawdown Current decline from peak	-0.55%	0.00%	-0.55%
Average Drawdown Average peak-to-trough decline	-9.58%	-14.90%	+5.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	3.33%	-1.60%

Volatility

DCLVX vs. DCDGX - Volatility Comparison

The current volatility for Dunham Large Cap Value Fund (DCLVX) is 3.61%, while Dunham Small Cap Growth Fund (DCDGX) has a volatility of 8.75%. This indicates that DCLVX experiences smaller price fluctuations and is considered to be less risky than DCDGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DCLVX	DCDGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	8.75%	-5.14%
Volatility (6M) Calculated over the trailing 6-month period	8.43%	17.91%	-9.48%
Volatility (1Y) Calculated over the trailing 1-year period	11.00%	22.88%	-11.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.85%	25.86%	-11.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.09%	24.88%	-7.79%

DCLVX vs. DCDGX - Expense Ratio Comparison

DCLVX has a 2.10% expense ratio, which is lower than DCDGX's 2.83% expense ratio.

Dividends

DCLVX vs. DCDGX - Dividend Comparison

DCLVX's dividend yield for the trailing twelve months is around 4.35%, less than DCDGX's 5.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DCDGX Dunham Small Cap Growth Fund	5.49%	6.74%	0.00%	0.00%	0.00%	29.30%	22.33%	2.06%	38.51%	20.51%	0.00%	11.22%
DCLVX Dunham Large Cap Value Fund	4.35%	4.80%	0.00%	5.01%	2.30%	6.51%	0.31%	2.88%	4.61%	1.15%	0.95%	36.28%

Frequently Asked Questions

Can I hold both DCLVX and DCDGX in my portfolio?

DCLVX and DCDGX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DCLVX or DCDGX?

DCDGX has higher volatility (8.75%) compared to DCLVX (3.61%). In terms of maximum drawdown, DCLVX dropped -58.91% vs DCDGX's -56.02%.

Which has better risk-adjusted returns?

DCLVX currently has the higher Sharpe Ratio (2.27 vs 1.86), 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.