DNAVX vs. DVRIX
DNAVX (Dunham Dynamic Macro Fund) and DVRIX (MFS Global Alternative Strategy Fund) are both Macro Trading funds. Over the past 10 years, DNAVX returned 3.77%/yr vs 5.04%/yr for DVRIX. At a 0.47 correlation, their price movements are largely independent. DNAVX charges 1.88%/yr vs 1.05%/yr for DVRIX.
Performance
DNAVX vs. DVRIX - Performance Comparison
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Returns By Period
In the year-to-date period, DNAVX achieves a 1.42% return, which is significantly higher than DVRIX's 1.12% return. Over the past 10 years, DNAVX has underperformed DVRIX with an annualized return of 3.77%, while DVRIX has yielded a comparatively higher 5.04% annualized return.
DNAVX
- 1D
- -0.17%
- 1M
- -2.06%
- YTD
- 1.42%
- 6M
- 1.35%
- 1Y
- 2.41%
- 3Y*
- 6.92%
- 5Y*
- 3.83%
- 10Y*
- 3.77%
DVRIX
- 1D
- 0.00%
- 1M
- 0.56%
- YTD
- 1.12%
- 6M
- 0.98%
- 1Y
- 4.79%
- 3Y*
- 8.98%
- 5Y*
- 5.27%
- 10Y*
- 5.04%
DNAVX vs. DVRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DNAVX Dunham Dynamic Macro Fund | 1.42% | 5.12% | 6.13% | 18.70% | -14.02% | 9.29% | 1.63% | 13.99% | -8.44% | 8.09% |
DVRIX MFS Global Alternative Strategy Fund | 1.12% | 10.87% | 9.66% | 9.22% | -5.10% | 3.67% | 4.66% | 13.01% | -0.39% | 6.40% |
Correlation
The correlation between DNAVX and DVRIX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since May 3, 2010 | 0.47 |
Over the past year, the correlation between DNAVX and DVRIX has dropped to 0.23 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
DNAVX vs. DVRIX — Risk / Return Rank
DNAVX
DVRIX
DNAVX vs. DVRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dunham Dynamic Macro Fund (DNAVX) and MFS Global Alternative Strategy Fund (DVRIX). 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.
| DNAVX | DVRIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.24 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.95 | 1.61 | -0.66 |
| Martin ratioReturn relative to average drawdown | 3.16 | 5.08 | -1.93 |
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Drawdowns
DNAVX vs. DVRIX - Drawdown Comparison
The maximum DNAVX drawdown since its inception was -17.73%, smaller than the maximum DVRIX drawdown of -36.61%. Use the drawdown chart below to compare losses from any high point for DNAVX and DVRIX.
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Drawdown Indicators
| DNAVX | DVRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.73% | -36.61% | +18.88% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -3.08% | +0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -8.05% | -3.57% | -4.48% |
Max Drawdown (5Y)Largest decline over 5 years | -17.12% | -9.88% | -7.24% |
Max Drawdown (10Y)Largest decline over 10 years | -17.73% | -12.80% | -4.93% |
Current DrawdownCurrent decline from peak | -2.73% | -1.30% | -1.43% |
Average DrawdownAverage peak-to-trough decline | -3.87% | -4.10% | +0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.97% | -0.15% |
Volatility
DNAVX vs. DVRIX - Volatility Comparison
The current volatility for Dunham Dynamic Macro Fund (DNAVX) is 1.22%, while MFS Global Alternative Strategy Fund (DVRIX) has a volatility of 1.41%. This indicates that DNAVX experiences smaller price fluctuations and is considered to be less risky than DVRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DNAVX | DVRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.41% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 3.64% | 3.12% | +0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.14% | 3.71% | +0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.62% | 4.89% | +3.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.41% | 5.24% | +3.17% |
DNAVX vs. DVRIX - Expense Ratio Comparison
DNAVX has a 1.88% expense ratio, which is higher than DVRIX's 1.05% expense ratio.
Dividends
DNAVX vs. DVRIX - Dividend Comparison
DNAVX's dividend yield for the trailing twelve months is around 11.40%, more than DVRIX's 1.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DNAVX Dunham Dynamic Macro Fund | 11.40% | 11.56% | 0.00% | 3.41% | 0.00% | 0.00% | 0.75% | 0.00% | 2.42% | 0.00% | 0.00% | 0.00% |
DVRIX MFS Global Alternative Strategy Fund | 1.13% | 1.15% | 1.65% | 1.15% | 0.60% | 0.60% | 0.64% | 1.14% | 1.11% | 2.17% | 2.87% | 1.15% |
Frequently Asked Questions
DNAVX and DVRIX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DVRIX has higher volatility (1.41%) compared to DNAVX (1.22%). In terms of maximum drawdown, DNAVX dropped -17.73% vs DVRIX's -36.61%.
DVRIX currently has the higher Sharpe Ratio (1.34 vs 0.63), 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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