GIOTX vs. DCINX

Last updated Aug 4, 2026

GIOTX (GMO International Developed Equity Allocation Fund) and DCINX (Dunham International Stock Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, GIOTX returned 12.13%/yr vs 12.23%/yr for DCINX. Their correlation of 0.92 means they have usually moved in the same direction. GIOTX charges 0.00%/yr vs 2.92%/yr for DCINX.

Performance

GIOTX vs. DCINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO International Developed Equity Allocation Fund (GIOTX) 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, GIOTX achieves a 20.64% return, which is significantly lower than DCINX's 22.83% return. Both investments have delivered pretty close results over the past 10 years, with GIOTX having a 12.13% annualized return and DCINX not far ahead at 12.23%.

GIOTX

• 1D: -0.59%
• 1M: 2.95%
• 6M: 12.62%
• YTD: 20.64%
• 1Y: 40.94%
• 3Y*: 26.35%
• 5Y*: 15.19%
• 10Y*: 12.13%
• ALL TIME*: 6.50%

DCINX

• 1D: -0.17%
• 1M: 0.21%
• 6M: 13.44%
• YTD: 22.83%
• 1Y: 43.96%
• 3Y*: 26.39%
• 5Y*: 13.87%
• 10Y*: 12.23%
• ALL TIME*: 6.64%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DCINX Dunham International Stock Fund	$0.00	$0.00	$0.00
GIOTX GMO International Developed Equity Allocation Fund	$0.00	$0.00	$0.00

GIOTX vs. DCINX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GIOTX GMO International Developed Equity Allocation Fund	20.64%	43.70%	10.66%	21.03%	-12.41%	11.14%	7.43%	24.45%	-19.66%	26.38%
DCINX Dunham International Stock Fund	22.83%	46.37%	7.65%	15.98%	-14.67%	9.70%	19.86%	18.14%	-14.27%	24.40%

Correlation

The correlation between GIOTX and DCINX is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (10Y) Provides a long-term view across more market conditions.	0.90
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007	0.92

The correlation between GIOTX and DCINX has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

Return for Risk

GIOTX vs. DCINX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GIOTX

GIOTX Risk / Return Rank: 92
GIOTX Sharpe Ratio Rank: 95
GIOTX Sortino Ratio Rank: 91
GIOTX Omega Ratio Rank: 88
GIOTX Calmar Ratio Rank: 93
GIOTX Martin Ratio Rank: 94

DCINX

DCINX Risk / Return Rank: 89
DCINX Sharpe Ratio Rank: 92
DCINX Sortino Ratio Rank: 85
DCINX Omega Ratio Rank: 85
DCINX Calmar Ratio Rank: 91
DCINX Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GIOTX vs. DCINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO International Developed Equity Allocation Fund (GIOTX) 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.

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.

	GIOTX	DCINX	Difference
Sharpe ratio: Return per unit of total volatility	2.56	2.41	+0.15
Sortino ratio: Return per unit of downside risk	3.52	3.11	+0.41
Omega ratio: Gain probability vs. loss probability	1.46	1.43	+0.03
Calmar ratio: Return relative to maximum drawdown	3.89	3.64	+0.25
Martin ratio: Return relative to average drawdown	15.11	13.25	+1.85

GIOTX vs. DCINX - Sharpe Ratio Comparison

The current GIOTX Sharpe Ratio is 2.56, which is comparable to the DCINX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of GIOTX 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.

Drawdowns

GIOTX vs. DCINX - Drawdown Comparison

The maximum GIOTX drawdown since its inception was -56.51%, smaller than the maximum DCINX drawdown of -61.79%. Use the drawdown chart below to compare losses from any high point for GIOTX and DCINX.

Drawdown Indicators

	GIOTX	DCINX	Difference
Max Drawdown Largest peak-to-trough decline	-56.51%	-61.79%	+5.28%
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	-11.91%	+1.25%
Max Drawdown (3Y) Largest decline over 3 years	-13.40%	-13.74%	+0.34%
Max Drawdown (5Y) Largest decline over 5 years	-28.34%	-31.18%	+2.84%
Max Drawdown (10Y) Largest decline over 10 years	-39.29%	-37.28%	-2.01%
Current Drawdown Current decline from peak	-0.59%	-3.37%	+2.78%
Average Drawdown Average peak-to-trough decline	-14.13%	-12.77%	-1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	3.27%	-0.53%

Volatility

GIOTX vs. DCINX - Volatility Comparison

The current volatility for GMO International Developed Equity Allocation Fund (GIOTX) is 5.03%, while Dunham International Stock Fund (DCINX) has a volatility of 5.44%. This indicates that GIOTX 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

	GIOTX	DCINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.03%	5.44%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	13.48%	15.99%	-2.51%
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	18.04%	-1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.55%	15.83%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.18%	16.53%	-0.35%

GIOTX vs. DCINX - Expense Ratio Comparison

GIOTX has a 0.00% expense ratio, which is lower than DCINX's 2.92% expense ratio.

Dividends

GIOTX vs. DCINX - Dividend Comparison

GIOTX's dividend yield for the trailing twelve months is around 8.44%, less than DCINX's 8.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DCINX Dunham International Stock Fund	8.91%	10.95%	13.87%	3.45%	3.53%	15.49%	1.36%	1.54%	6.92%	3.92%	0.00%	0.00%
GIOTX GMO International Developed Equity Allocation Fund	8.44%	8.04%	5.07%	6.54%	4.45%	6.67%	4.48%	3.74%	3.90%	3.15%	4.04%	3.39%

Frequently Asked Questions

Can I hold both GIOTX and DCINX in my portfolio?

GIOTX and DCINX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GIOTX or DCINX?

DCINX has higher volatility (5.44%) compared to GIOTX (5.03%). In terms of maximum drawdown, GIOTX dropped -56.51% vs DCINX's -61.79%.

Which has better risk-adjusted returns?

GIOTX currently has the higher Sharpe Ratio (2.56 vs 2.41), 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.