FARYX vs. DNAVX
FARYX (Fulcrum Diversified Absolute Return Fund) and DNAVX (Dunham Dynamic Macro Fund) are both Multistrategy funds. Over the past 10 years, FARYX returned 4.83%/yr vs 3.44%/yr for DNAVX. Their 0.52 correlation means they have sometimes moved together and sometimes differently. FARYX charges 1.04%/yr vs 1.88%/yr for DNAVX.
Performance
FARYX vs. DNAVX - Performance Comparison
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Returns By Period
In the year-to-date period, FARYX achieves a 1.82% return, which is significantly higher than DNAVX's 0.27% return. Over the past 10 years, FARYX has outperformed DNAVX with an annualized return of 4.83%, while DNAVX has yielded a comparatively lower 3.44% annualized return.
FARYX
- 1D
- 0.00%
- 1M
- -1.08%
- 6M
- -4.74%
- YTD
- 1.82%
- 1Y
- 10.10%
- 3Y*
- 8.03%
- 5Y*
- 4.93%
- 10Y*
- 4.83%
- ALL TIME*
- 4.44%
DNAVX
- 1D
- 0.36%
- 1M
- -0.70%
- 6M
- -1.66%
- YTD
- 0.27%
- 1Y
- 0.84%
- 3Y*
- 5.13%
- 5Y*
- 3.10%
- 10Y*
- 3.44%
- ALL TIME*
- 2.56%
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 |
FARYX vs. DNAVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FARYX Fulcrum Diversified Absolute Return Fund | 1.82% | 13.34% | 7.19% | 0.79% | 2.19% | 4.30% | 9.81% | 7.62% | -1.91% | 1.90% |
DNAVX Dunham Dynamic Macro Fund | 0.27% | 5.12% | 6.13% | 18.70% | -14.02% | 9.29% | 1.63% | 13.99% | -8.44% | 8.09% |
Correlation
The correlation between FARYX and DNAVX is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.52 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.52 |
The correlation between FARYX and DNAVX has been stable across timeframes, ranging from 0.46 to 0.52 - a consistent structural relationship.
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Return for Risk
FARYX vs. DNAVX — Risk / Return Rank
FARYX
DNAVX
FARYX vs. DNAVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fulcrum Diversified Absolute Return Fund (FARYX) and Dunham Dynamic Macro Fund (DNAVX). 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.
| FARYX | DNAVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.03 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | 0.18 | +1.30 |
| Martin ratioReturn relative to average drawdown | 4.32 | 0.54 | +3.78 |
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Drawdowns
FARYX vs. DNAVX - Drawdown Comparison
The maximum FARYX drawdown since its inception was -7.41%, smaller than the maximum DNAVX drawdown of -17.73%. Use the drawdown chart below to compare losses from any high point for FARYX and DNAVX.
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Drawdown Indicators
| FARYX | DNAVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.41% | -17.73% | +10.32% |
Max Drawdown (1Y)Largest decline over 1 year | -6.77% | -4.26% | -2.51% |
Max Drawdown (3Y)Largest decline over 3 years | -6.77% | -8.05% | +1.28% |
Max Drawdown (5Y)Largest decline over 5 years | -6.87% | -17.12% | +10.25% |
Max Drawdown (10Y)Largest decline over 10 years | -7.41% | -17.73% | +10.32% |
Current DrawdownCurrent decline from peak | -6.77% | -3.83% | -2.94% |
Average DrawdownAverage peak-to-trough decline | -1.89% | -3.87% | +1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 1.42% | +0.90% |
Volatility
FARYX vs. DNAVX - Volatility Comparison
Fulcrum Diversified Absolute Return Fund (FARYX) and Dunham Dynamic Macro Fund (DNAVX) have volatilities of 1.75% and 1.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FARYX | DNAVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.75% | 1.70% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 5.40% | 3.96% | +1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.88% | 4.44% | +3.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.31% | 8.62% | -2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.84% | 8.41% | -2.57% |
FARYX vs. DNAVX - Expense Ratio Comparison
FARYX has a 1.04% expense ratio, which is lower than DNAVX's 1.88% expense ratio.
Dividends
FARYX vs. DNAVX - Dividend Comparison
FARYX's dividend yield for the trailing twelve months is around 7.05%, less than DNAVX's 11.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DNAVX Dunham Dynamic Macro Fund | 11.53% | 11.56% | 0.00% | 3.41% | 0.00% | 0.00% | 0.75% | 0.00% | 2.42% | 0.00% | 0.00% |
FARYX Fulcrum Diversified Absolute Return Fund | 7.05% | 7.18% | 4.39% | 0.89% | 1.28% | 8.96% | 7.79% | 0.63% | 8.88% | 3.39% | 0.40% |
Frequently Asked Questions
FARYX and DNAVX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FARYX has higher volatility (1.75%) compared to DNAVX (1.70%). In terms of maximum drawdown, FARYX dropped -7.41% vs DNAVX's -17.73%.
FARYX currently has the higher Sharpe Ratio (1.27 vs 0.17), 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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