DNAVX vs. JAAAX
DNAVX (Dunham Dynamic Macro Fund) and JAAAX (John Hancock Funds Alternative Asset Allocation Fund) are both Multistrategy funds. Over the past 10 years, DNAVX returned 3.51%/yr vs 4.20%/yr for JAAAX. Their 0.67 correlation means they have sometimes moved together and sometimes differently. DNAVX charges 1.88%/yr vs 0.72%/yr for JAAAX.
Performance
DNAVX vs. JAAAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DNAVX achieves a 0.62% return, which is significantly lower than JAAAX's 6.67% return. Over the past 10 years, DNAVX has underperformed JAAAX with an annualized return of 3.51%, while JAAAX has yielded a comparatively higher 4.20% annualized return.
DNAVX
- 1D
- 0.27%
- 1M
- -0.35%
- 6M
- -0.96%
- YTD
- 0.62%
- 1Y
- 0.88%
- 3Y*
- 5.98%
- 5Y*
- 3.14%
- 10Y*
- 3.51%
- ALL TIME*
- 2.58%
JAAAX
- 1D
- 0.06%
- 1M
- 1.14%
- 6M
- 4.35%
- YTD
- 6.67%
- 1Y
- 10.35%
- 3Y*
- 7.28%
- 5Y*
- 4.49%
- 10Y*
- 4.20%
- ALL TIME*
- 5.53%
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 |
DNAVX vs. JAAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DNAVX Dunham Dynamic Macro Fund | 0.62% | 5.12% | 6.13% | 18.70% | -14.02% | 9.29% | 1.63% | 13.99% | -8.44% | 8.09% |
JAAAX John Hancock Funds Alternative Asset Allocation Fund | 6.67% | 6.18% | 6.59% | 5.85% | -3.12% | 4.77% | 4.36% | 8.95% | -4.09% | 6.10% |
Correlation
The correlation between DNAVX and JAAAX is 0.51, 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. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.66 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.74 |
Correlation (All Time) Calculated using the full available price history since May 3, 2010 | 0.67 |
The correlation between DNAVX and JAAAX shifts across timeframes, from 0.51 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DNAVX vs. JAAAX — Risk / Return Rank
DNAVX
JAAAX
DNAVX vs. JAAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dunham Dynamic Macro Fund (DNAVX) and John Hancock Funds Alternative Asset Allocation Fund (JAAAX). 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 | JAAAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.87 | ||
| Sortino ratioReturn per unit of downside risk | -4.25 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.62 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | 0.28 | 5.42 | -5.14 |
| Martin ratioReturn relative to average drawdown | 0.82 | 19.58 | -18.76 |
Loading charts...
Drawdowns
DNAVX vs. JAAAX - Drawdown Comparison
The maximum DNAVX drawdown since its inception was -17.73%, which is greater than JAAAX's maximum drawdown of -15.72%. Use the drawdown chart below to compare losses from any high point for DNAVX and JAAAX.
Loading charts...
Drawdown Indicators
| DNAVX | JAAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.73% | -15.72% | -2.01% |
Max Drawdown (1Y)Largest decline over 1 year | -4.26% | -2.02% | -2.24% |
Max Drawdown (3Y)Largest decline over 3 years | -8.05% | -5.66% | -2.39% |
Max Drawdown (5Y)Largest decline over 5 years | -17.12% | -6.28% | -10.84% |
Max Drawdown (10Y)Largest decline over 10 years | -17.73% | -12.64% | -5.09% |
Current DrawdownCurrent decline from peak | -3.49% | 0.00% | -3.49% |
Average DrawdownAverage peak-to-trough decline | -3.87% | -2.03% | -1.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 0.56% | +0.90% |
Volatility
DNAVX vs. JAAAX - Volatility Comparison
Dunham Dynamic Macro Fund (DNAVX) has a higher volatility of 1.72% compared to John Hancock Funds Alternative Asset Allocation Fund (JAAAX) at 0.97%. This indicates that DNAVX's price experiences larger fluctuations and is considered to be riskier than JAAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DNAVX | JAAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.72% | 0.97% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 3.93% | 2.57% | +1.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.46% | 3.49% | +0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.62% | 4.21% | +4.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.41% | 4.37% | +4.04% |
DNAVX vs. JAAAX - Expense Ratio Comparison
DNAVX has a 1.88% expense ratio, which is higher than JAAAX's 0.72% expense ratio.
Dividends
DNAVX vs. JAAAX - Dividend Comparison
DNAVX's dividend yield for the trailing twelve months is around 11.49%, more than JAAAX's 1.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DNAVX Dunham Dynamic Macro Fund | 11.49% | 11.56% | 0.00% | 3.41% | 0.00% | 0.00% | 0.75% | 0.00% | 2.42% | 0.00% | 0.00% | 0.00% |
JAAAX John Hancock Funds Alternative Asset Allocation Fund | 1.43% | 1.53% | 1.17% | 1.71% | 3.02% | 1.72% | 0.74% | 3.38% | 1.99% | 1.23% | 0.77% | 2.78% |
Frequently Asked Questions
DNAVX and JAAAX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DNAVX has higher volatility (1.72%) compared to JAAAX (0.97%). In terms of maximum drawdown, DNAVX dropped -17.73% vs JAAAX's -15.72%.
JAAAX currently has the higher Sharpe Ratio (3.14 vs 0.27), 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.
Find the right allocation for DNAVX and JAAAX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer