HWNIX vs. DCINX

Last updated Jun 3, 2026

HWNIX (Hotchkis & Wiley International Value Fund) and DCINX (Dunham International Stock Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, HWNIX returned 11.05%/yr vs 12.72%/yr for DCINX. Their correlation of 0.82 suggests significant overlap in exposure. HWNIX charges 0.95%/yr vs 2.92%/yr for DCINX.

Performance

HWNIX vs. DCINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hotchkis & Wiley International Value Fund (HWNIX) 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, HWNIX achieves a 14.61% return, which is significantly lower than DCINX's 24.97% return. Over the past 10 years, HWNIX has underperformed DCINX with an annualized return of 11.05%, while DCINX has yielded a comparatively higher 12.72% annualized return.

HWNIX

• 1D: 0.84%
• 1M: 6.19%
• YTD: 14.61%
• 6M: 19.51%
• 1Y: 30.66%
• 3Y*: 24.04%
• 5Y*: 13.87%
• 10Y*: 11.05%

DCINX

• 1D: 1.16%
• 1M: 7.70%
• YTD: 24.97%
• 6M: 28.99%
• 1Y: 52.92%
• 3Y*: 28.69%
• 5Y*: 13.77%
• 10Y*: 12.72%

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

HWNIX vs. DCINX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HWNIX Hotchkis & Wiley International Value Fund	14.61%	41.40%	5.92%	22.98%	-5.40%	18.12%	-2.36%	20.53%	-18.77%	18.13%
DCINX Dunham International Stock Fund	24.97%	46.37%	7.65%	15.98%	-14.67%	9.70%	19.86%	18.14%	-14.27%	24.40%

Correlation

The correlation between HWNIX and DCINX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.82

The correlation between HWNIX and DCINX has been stable across timeframes, ranging from 0.80 to 0.83 - a consistent structural relationship.

Return for Risk

HWNIX vs. DCINX — Risk / Return Rank

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

HWNIX

HWNIX Risk / Return Rank: 54
HWNIX Sharpe Ratio Rank: 58
HWNIX Sortino Ratio Rank: 54
HWNIX Omega Ratio Rank: 53
HWNIX Calmar Ratio Rank: 52
HWNIX Martin Ratio Rank: 53

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: 90

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.

HWNIX vs. DCINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley International Value Fund (HWNIX) 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.

	HWNIX	DCINX	Difference
Sharpe ratio Return per unit of total volatility	2.24	3.44	-1.20
Sortino ratio Return per unit of downside risk	3.11	4.38	-1.27
Omega ratio Gain probability vs. loss probability	1.40	1.61	-0.21
Calmar ratio Return relative to maximum drawdown	2.77	4.52	-1.76
Martin ratio Return relative to average drawdown	10.77	18.19	-7.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HWNIX vs. DCINX - Sharpe Ratio Comparison

The current HWNIX Sharpe Ratio is 2.24, which is lower than the DCINX Sharpe Ratio of 3.44. The chart below compares the historical Sharpe Ratios of HWNIX 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

	HWNIX	DCINX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	3.44	-1.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.90	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.77	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.35	+0.21

Drawdowns

HWNIX vs. DCINX - Drawdown Comparison

The maximum HWNIX drawdown since its inception was -48.97%, smaller than the maximum DCINX drawdown of -61.79%. Use the drawdown chart below to compare losses from any high point for HWNIX and DCINX.

Drawdown Indicators

	HWNIX	DCINX	Difference
Max Drawdown Largest peak-to-trough decline	-48.97%	-61.79%	+12.82%
Max Drawdown (1Y) Largest decline over 1 year	-11.63%	-11.91%	+0.28%
Max Drawdown (3Y) Largest decline over 3 years	-14.93%	-13.74%	-1.19%
Max Drawdown (5Y) Largest decline over 5 years	-29.23%	-31.18%	+1.95%
Max Drawdown (10Y) Largest decline over 10 years	-48.97%	-37.28%	-11.69%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.00%	-12.85%	+4.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	2.96%	+0.03%

Volatility

HWNIX vs. DCINX - Volatility Comparison

The current volatility for Hotchkis & Wiley International Value Fund (HWNIX) is 4.41%, while Dunham International Stock Fund (DCINX) has a volatility of 5.54%. This indicates that HWNIX 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

	HWNIX	DCINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	5.54%	-1.13%
Volatility (6M) Calculated over the trailing 6-month period	11.45%	13.44%	-1.99%
Volatility (1Y) Calculated over the trailing 1-year period	14.43%	15.89%	-1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.82%	15.39%	+2.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.98%	16.53%	+3.45%

HWNIX vs. DCINX - Expense Ratio Comparison

HWNIX has a 0.95% expense ratio, which is lower than DCINX's 2.92% expense ratio.

Dividends

HWNIX vs. DCINX - Dividend Comparison

HWNIX's dividend yield for the trailing twelve months is around 14.75%, more than DCINX's 8.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DCINX Dunham International Stock Fund	8.76%	10.95%	13.87%	3.45%	3.53%	15.49%	1.36%	1.54%	6.92%	3.92%	0.00%
HWNIX Hotchkis & Wiley International Value Fund	14.75%	16.90%	13.76%	8.40%	3.20%	1.46%	1.21%	3.77%	7.96%	5.89%	3.90%

Frequently Asked Questions

Can I hold both HWNIX and DCINX in my portfolio?

HWNIX 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, HWNIX or DCINX?

DCINX has higher volatility (5.54%) compared to HWNIX (4.41%). In terms of maximum drawdown, HWNIX dropped -48.97% vs DCINX's -61.79%.

Which has better risk-adjusted returns?

DCINX currently has the higher Sharpe Ratio (3.44 vs 2.24), 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.