DCSVX vs. DCAIX
DCSVX (Dunham Small Cap Value Fund) and DCAIX (Dunham Long/Short Credit Fund) are both mutual funds - DCSVX is a Small Cap Value Equities fund managed by Dunham, while DCAIX is a Nontraditional Bonds fund managed by Dunham. Over the past 10 years, DCSVX returned 7.36%/yr vs 3.20%/yr for DCAIX. Their 0.57 correlation means they have sometimes moved together and sometimes differently. DCSVX charges 2.05%/yr vs 1.98%/yr for DCAIX.
Performance
DCSVX vs. DCAIX - Performance Comparison
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Returns By Period
In the year-to-date period, DCSVX achieves a 21.97% return, which is significantly higher than DCAIX's 0.80% return. Over the past 10 years, DCSVX has outperformed DCAIX with an annualized return of 7.36%, while DCAIX has yielded a comparatively lower 3.20% annualized return.
DCSVX
- 1D
- 0.28%
- 1M
- -0.91%
- 6M
- 12.62%
- YTD
- 21.97%
- 1Y
- 38.88%
- 3Y*
- 8.19%
- 5Y*
- 5.39%
- 10Y*
- 7.36%
- ALL TIME*
- 5.23%
DCAIX
- 1D
- -0.36%
- 1M
- -0.49%
- 6M
- 0.46%
- YTD
- 0.80%
- 1Y
- 1.58%
- 3Y*
- 2.83%
- 5Y*
- 0.98%
- 10Y*
- 3.20%
- ALL TIME*
- 2.67%
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 |
DCSVX vs. DCAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DCSVX Dunham Small Cap Value Fund | 21.97% | 8.67% | -8.49% | 14.23% | -13.01% | 31.15% | -3.67% | 20.13% | -12.04% | 7.93% |
DCAIX Dunham Long/Short Credit Fund | 0.80% | 2.47% | 3.78% | 0.60% | -2.64% | 1.47% | 4.11% | 5.81% | 4.17% | 10.40% |
Correlation
The correlation between DCSVX and DCAIX is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | -0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.23 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2004 | 0.57 |
Over the past year, the correlation between DCSVX and DCAIX has dropped to 0.08 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.
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Return for Risk
DCSVX vs. DCAIX — Risk / Return Rank
DCSVX
DCAIX
DCSVX vs. DCAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dunham Small Cap Value Fund (DCSVX) and Dunham Long/Short Credit Fund (DCAIX). 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.
| DCSVX | DCAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.50 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | 3.51 | -0.08 |
| Martin ratioReturn relative to average drawdown | 13.04 | 12.94 | +0.09 |
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Drawdowns
DCSVX vs. DCAIX - Drawdown Comparison
The maximum DCSVX drawdown since its inception was -62.83%, which is greater than DCAIX's maximum drawdown of -46.34%. Use the drawdown chart below to compare losses from any high point for DCSVX and DCAIX.
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Drawdown Indicators
| DCSVX | DCAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.83% | -46.34% | -16.49% |
Max Drawdown (1Y)Largest decline over 1 year | -10.55% | -0.49% | -10.06% |
Max Drawdown (3Y)Largest decline over 3 years | -37.13% | -0.85% | -36.28% |
Max Drawdown (5Y)Largest decline over 5 years | -37.13% | -5.45% | -31.68% |
Max Drawdown (10Y)Largest decline over 10 years | -46.71% | -6.53% | -40.18% |
Current DrawdownCurrent decline from peak | -2.35% | -0.49% | -1.86% |
Average DrawdownAverage peak-to-trough decline | -11.78% | -5.93% | -5.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 0.13% | +2.64% |
Volatility
DCSVX vs. DCAIX - Volatility Comparison
Dunham Small Cap Value Fund (DCSVX) has a higher volatility of 3.64% compared to Dunham Long/Short Credit Fund (DCAIX) at 0.42%. This indicates that DCSVX's price experiences larger fluctuations and is considered to be riskier than DCAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DCSVX | DCAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.64% | 0.42% | +3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 11.47% | 0.79% | +10.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.73% | 1.07% | +15.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.31% | 1.58% | +19.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.30% | 3.79% | +19.51% |
DCSVX vs. DCAIX - Expense Ratio Comparison
DCSVX has a 2.05% expense ratio, which is higher than DCAIX's 1.98% expense ratio.
Dividends
DCSVX vs. DCAIX - Dividend Comparison
DCSVX's dividend yield for the trailing twelve months is around 6.12%, more than DCAIX's 3.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DCAIX Dunham Long/Short Credit Fund | 3.30% | 3.79% | 3.72% | 4.04% | 2.63% | 2.25% | 2.39% | 2.27% | 1.31% | 1.33% | 2.28% | 5.72% |
DCSVX Dunham Small Cap Value Fund | 6.12% | 7.47% | 0.00% | 3.00% | 10.28% | 13.90% | 0.21% | 0.00% | 15.82% | 12.82% | 3.28% | 3.92% |
Frequently Asked Questions
DCSVX and DCAIX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DCSVX has higher volatility (3.64%) compared to DCAIX (0.42%). In terms of maximum drawdown, DCSVX dropped -62.83% vs DCAIX's -46.34%.
DCSVX currently has the higher Sharpe Ratio (2.16 vs 1.60), 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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