MWCIX vs. DCAIX
MWCIX (Metropolitan West Unconstrained Bond Fund) and DCAIX (Dunham Long/Short Credit Fund) are both Nontraditional Bonds funds. Over the past 10 years, MWCIX returned 2.84%/yr vs 3.70%/yr for DCAIX. At a 0.09 correlation, their price movements are largely independent. MWCIX charges 0.76%/yr vs 1.98%/yr for DCAIX.
Performance
MWCIX vs. DCAIX - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with MWCIX at 1.12% and DCAIX at 1.12%. Over the past 10 years, MWCIX has underperformed DCAIX with an annualized return of 2.84%, while DCAIX has yielded a comparatively higher 3.70% annualized return.
MWCIX
- 1D
- -0.10%
- 1M
- 0.55%
- YTD
- 1.12%
- 6M
- 1.60%
- 1Y
- 5.67%
- 3Y*
- 5.92%
- 5Y*
- 1.96%
- 10Y*
- 2.84%
DCAIX
- 1D
- 0.00%
- 1M
- 0.13%
- YTD
- 1.12%
- 6M
- 1.31%
- 1Y
- 2.44%
- 3Y*
- 3.22%
- 5Y*
- 1.05%
- 10Y*
- 3.70%
MWCIX vs. DCAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MWCIX Metropolitan West Unconstrained Bond Fund | 1.12% | 7.50% | 5.40% | 6.07% | -9.39% | 0.65% | 4.54% | 6.49% | 1.11% | 3.98% |
DCAIX Dunham Long/Short Credit Fund | 1.12% | 2.47% | 3.78% | 0.60% | -2.64% | 1.47% | 4.11% | 5.81% | 4.17% | 10.40% |
Correlation
The correlation between MWCIX and DCAIX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | 0.09 |
The correlation between MWCIX and DCAIX shifts across timeframes, from -0.02 (3 years) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MWCIX vs. DCAIX — Risk / Return Rank
MWCIX
DCAIX
MWCIX vs. DCAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Metropolitan West Unconstrained Bond Fund (MWCIX) and Dunham Long/Short Credit Fund (DCAIX). 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.
| MWCIX | DCAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.82 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 6.55 | -2.97 |
| Martin ratioReturn relative to average drawdown | 14.82 | 20.09 | -5.27 |
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Drawdowns
MWCIX vs. DCAIX - Drawdown Comparison
The maximum MWCIX drawdown since its inception was -13.00%, smaller than the maximum DCAIX drawdown of -46.34%. Use the drawdown chart below to compare losses from any high point for MWCIX and DCAIX.
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Drawdown Indicators
| MWCIX | DCAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.00% | -46.34% | +33.34% |
Max Drawdown (1Y)Largest decline over 1 year | -1.62% | -0.37% | -1.25% |
Max Drawdown (3Y)Largest decline over 3 years | -3.33% | -0.85% | -2.48% |
Max Drawdown (5Y)Largest decline over 5 years | -13.00% | -5.45% | -7.55% |
Max Drawdown (10Y)Largest decline over 10 years | -13.00% | -6.53% | -6.47% |
Current DrawdownCurrent decline from peak | -0.38% | -0.12% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -1.49% | -5.96% | +4.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.39% | 0.12% | +0.27% |
Volatility
MWCIX vs. DCAIX - Volatility Comparison
Metropolitan West Unconstrained Bond Fund (MWCIX) has a higher volatility of 0.86% compared to Dunham Long/Short Credit Fund (DCAIX) at 0.33%. This indicates that MWCIX's price experiences larger fluctuations and is considered to be riskier than DCAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MWCIX | DCAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 0.33% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 0.69% | +1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.53% | 1.01% | +1.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.64% | 1.58% | +2.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.16% | 3.93% | -0.77% |
MWCIX vs. DCAIX - Expense Ratio Comparison
MWCIX has a 0.76% expense ratio, which is lower than DCAIX's 1.98% expense ratio.
Dividends
MWCIX vs. DCAIX - Dividend Comparison
MWCIX's dividend yield for the trailing twelve months is around 5.44%, more than DCAIX's 3.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DCAIX Dunham Long/Short Credit Fund | 3.64% | 3.79% | 3.72% | 4.04% | 2.63% | 2.25% | 2.39% | 2.27% | 1.31% | 1.33% | 2.28% | 5.72% |
MWCIX Metropolitan West Unconstrained Bond Fund | 5.44% | 5.26% | 5.93% | 4.87% | 3.50% | 3.39% | 3.46% | 3.89% | 3.77% | 2.81% | 3.22% | 2.15% |
Frequently Asked Questions
MWCIX and DCAIX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MWCIX has higher volatility (0.86%) compared to DCAIX (0.33%). In terms of maximum drawdown, MWCIX dropped -13.00% vs DCAIX's -46.34%.
DCAIX currently has the higher Sharpe Ratio (2.44 vs 2.29), 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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