EXOSX vs. DCINX

Last updated Jun 4, 2026

EXOSX (Manning & Napier Overseas Series) and DCINX (Dunham International Stock Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, EXOSX returned 7.44%/yr vs 12.85%/yr for DCINX. Their correlation of 0.85 suggests significant overlap in exposure. EXOSX charges 0.75%/yr vs 2.92%/yr for DCINX.

Performance

EXOSX vs. DCINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manning & Napier Overseas Series (EXOSX) and Dunham International Stock Fund (DCINX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EXOSX achieves a 2.28% return, which is significantly lower than DCINX's 26.35% return. Over the past 10 years, EXOSX has underperformed DCINX with an annualized return of 7.44%, while DCINX has yielded a comparatively higher 12.85% annualized return.

EXOSX

• 1D: 0.13%
• 1M: 2.39%
• YTD: 2.28%
• 6M: 2.84%
• 1Y: 7.26%
• 3Y*: 9.15%
• 5Y*: 2.02%
• 10Y*: 7.44%

DCINX

• 1D: 1.10%
• 1M: 9.28%
• YTD: 26.35%
• 6M: 30.17%
• 1Y: 54.52%
• 3Y*: 29.16%
• 5Y*: 14.09%
• 10Y*: 12.85%

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

EXOSX vs. DCINX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EXOSX Manning & Napier Overseas Series	2.28%	16.21%	3.33%	19.89%	-24.26%	11.50%	27.07%	27.52%	-17.23%	23.92%
DCINX Dunham International Stock Fund	26.35%	46.37%	7.65%	15.98%	-14.67%	9.70%	19.86%	18.14%	-14.27%	24.40%

Correlation

The correlation between EXOSX and DCINX is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Dec 13, 2004	0.85

The correlation between EXOSX and DCINX has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

Return for Risk

EXOSX vs. DCINX — Risk / Return Rank

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

EXOSX

EXOSX Risk / Return Rank: 6
EXOSX Sharpe Ratio Rank: 6
EXOSX Sortino Ratio Rank: 6
EXOSX Omega Ratio Rank: 6
EXOSX Calmar Ratio Rank: 6
EXOSX Martin Ratio Rank: 7

DCINX

DCINX Risk / Return Rank: 91
DCINX Sharpe Ratio Rank: 96
DCINX Sortino Ratio Rank: 90
DCINX Omega Ratio Rank: 88
DCINX Calmar Ratio Rank: 90
DCINX Martin Ratio Rank: 91

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.

EXOSX vs. DCINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manning & Napier Overseas Series (EXOSX) and Dunham International Stock Fund (DCINX). 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.

	EXOSX	DCINX	Difference
Sharpe ratio: Return per unit of total volatility	0.48	3.46	-2.97
Sortino ratio: Return per unit of downside risk	0.78	4.40	-3.62
Omega ratio: Gain probability vs. loss probability	1.09	1.61	-0.52
Calmar ratio: Return relative to maximum drawdown	0.58	4.61	-4.03
Martin ratio: Return relative to average drawdown	2.01	18.49	-16.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EXOSX vs. DCINX - Sharpe Ratio Comparison

The current EXOSX Sharpe Ratio is 0.48, which is lower than the DCINX Sharpe Ratio of 3.46. The chart below compares the historical Sharpe Ratios of EXOSX and DCINX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EXOSX	DCINX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.48	3.46	-2.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	0.92	-0.80
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.78	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.35	+0.06

Drawdowns

EXOSX vs. DCINX - Drawdown Comparison

The maximum EXOSX drawdown since its inception was -55.50%, smaller than the maximum DCINX drawdown of -61.79%. Use the drawdown chart below to compare losses from any high point for EXOSX and DCINX.

Drawdown Indicators

	EXOSX	DCINX	Difference
Max Drawdown Largest peak-to-trough decline	-55.50%	-61.79%	+6.29%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-11.91%	+0.14%
Max Drawdown (3Y) Largest decline over 3 years	-14.91%	-13.74%	-1.17%
Max Drawdown (5Y) Largest decline over 5 years	-37.71%	-31.18%	-6.53%
Max Drawdown (10Y) Largest decline over 10 years	-37.71%	-37.28%	-0.43%
Current Drawdown Current decline from peak	-2.48%	0.00%	-2.48%
Average Drawdown Average peak-to-trough decline	-11.07%	-12.85%	+1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.39%	2.96%	+0.43%

Volatility

EXOSX vs. DCINX - Volatility Comparison

The current volatility for Manning & Napier Overseas Series (EXOSX) is 4.36%, while Dunham International Stock Fund (DCINX) has a volatility of 5.53%. This indicates that EXOSX experiences smaller price fluctuations and is considered to be less risky than DCINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EXOSX	DCINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	5.53%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	11.29%	13.47%	-2.18%
Volatility (1Y) Calculated over the trailing 1-year period	14.07%	15.89%	-1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.68%	15.40%	+1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.69%	16.53%	+0.16%

EXOSX vs. DCINX - Expense Ratio Comparison

EXOSX has a 0.75% expense ratio, which is lower than DCINX's 2.92% expense ratio.

Dividends

EXOSX vs. DCINX - Dividend Comparison

EXOSX's dividend yield for the trailing twelve months is around 1.11%, less than DCINX's 8.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DCINX Dunham International Stock Fund	8.66%	10.95%	13.87%	3.45%	3.53%	15.49%	1.36%	1.54%	6.92%	3.92%	0.00%	0.00%
EXOSX Manning & Napier Overseas Series	1.11%	1.13%	1.29%	1.27%	0.82%	1.85%	0.86%	1.72%	0.91%	1.79%	1.71%	1.84%

Frequently Asked Questions

Can I hold both EXOSX and DCINX in my portfolio?

EXOSX and DCINX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EXOSX or DCINX?

DCINX has higher volatility (5.53%) compared to EXOSX (4.36%). In terms of maximum drawdown, EXOSX dropped -55.50% vs DCINX's -61.79%.

Which has better risk-adjusted returns?

DCINX currently has the higher Sharpe Ratio (3.46 vs 0.48), 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.