OTRFX vs. DNAVX
OTRFX (OnTrack Core Fund) and DNAVX (Dunham Dynamic Macro Fund) are both Macro Trading funds. Over the past 10 years, OTRFX returned 5.38%/yr vs 3.77%/yr for DNAVX. At a 0.36 correlation, their price movements are largely independent. OTRFX charges 2.58%/yr vs 1.88%/yr for DNAVX.
Performance
OTRFX vs. DNAVX - Performance Comparison
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Returns By Period
In the year-to-date period, OTRFX achieves a 5.21% return, which is significantly higher than DNAVX's 1.42% return. Over the past 10 years, OTRFX has outperformed DNAVX with an annualized return of 5.38%, while DNAVX has yielded a comparatively lower 3.77% annualized return.
OTRFX
- 1D
- 0.00%
- 1M
- 0.93%
- YTD
- 5.21%
- 6M
- 5.12%
- 1Y
- 11.62%
- 3Y*
- 6.28%
- 5Y*
- 1.97%
- 10Y*
- 5.38%
DNAVX
- 1D
- -0.17%
- 1M
- -2.06%
- YTD
- 1.42%
- 6M
- 1.35%
- 1Y
- 2.41%
- 3Y*
- 6.92%
- 5Y*
- 3.83%
- 10Y*
- 3.77%
OTRFX vs. DNAVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OTRFX OnTrack Core Fund | 5.21% | 6.12% | -0.12% | 5.37% | -5.82% | 3.94% | 29.03% | 6.86% | -4.70% | 6.49% |
DNAVX Dunham Dynamic Macro Fund | 1.42% | 5.12% | 6.13% | 18.70% | -14.02% | 9.29% | 1.63% | 13.99% | -8.44% | 8.09% |
Correlation
The correlation between OTRFX and DNAVX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2013 | 0.36 |
The correlation between OTRFX and DNAVX shifts across timeframes, from 0.19 (1 year) to 0.38 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
OTRFX vs. DNAVX — Risk / Return Rank
OTRFX
DNAVX
OTRFX vs. DNAVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for OnTrack Core Fund (OTRFX) 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.
| OTRFX | DNAVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.20 | ||
| Sortino ratioReturn per unit of downside risk | +2.95 | ||
| Omega ratioGain probability vs. loss probability | 1.72 | 1.11 | +0.61 |
| Calmar ratioReturn relative to maximum drawdown | 3.88 | 0.95 | +2.93 |
| Martin ratioReturn relative to average drawdown | 8.43 | 3.16 | +5.27 |
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Drawdowns
OTRFX vs. DNAVX - Drawdown Comparison
The maximum OTRFX drawdown since its inception was -9.73%, smaller than the maximum DNAVX drawdown of -17.73%. Use the drawdown chart below to compare losses from any high point for OTRFX and DNAVX.
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Drawdown Indicators
| OTRFX | DNAVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.73% | -17.73% | +8.00% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -2.73% | -0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -5.76% | -8.05% | +2.29% |
Max Drawdown (5Y)Largest decline over 5 years | -9.51% | -17.12% | +7.61% |
Max Drawdown (10Y)Largest decline over 10 years | -9.51% | -17.73% | +8.22% |
Current DrawdownCurrent decline from peak | -0.95% | -2.73% | +1.78% |
Average DrawdownAverage peak-to-trough decline | -2.97% | -3.87% | +0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 0.82% | +0.57% |
Volatility
OTRFX vs. DNAVX - Volatility Comparison
The current volatility for OnTrack Core Fund (OTRFX) is 0.53%, while Dunham Dynamic Macro Fund (DNAVX) has a volatility of 1.22%. This indicates that OTRFX experiences smaller price fluctuations and is considered to be less risky than DNAVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OTRFX | DNAVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 1.22% | -0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 3.64% | -0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 4.14% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.07% | 8.62% | -5.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.59% | 8.41% | -4.82% |
OTRFX vs. DNAVX - Expense Ratio Comparison
OTRFX has a 2.58% expense ratio, which is higher than DNAVX's 1.88% expense ratio.
Dividends
OTRFX vs. DNAVX - Dividend Comparison
OTRFX's dividend yield for the trailing twelve months is around 12.40%, more than DNAVX's 11.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DNAVX Dunham Dynamic Macro Fund | 11.40% | 11.56% | 0.00% | 3.41% | 0.00% | 0.00% | 0.75% | 0.00% | 2.42% | 0.00% | 0.00% | 0.00% |
OTRFX OnTrack Core Fund | 12.40% | 13.04% | 8.01% | 0.14% | 1.39% | 7.10% | 2.36% | 1.38% | 7.15% | 2.69% | 7.05% | 6.15% |
Frequently Asked Questions
OTRFX and DNAVX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DNAVX has higher volatility (1.22%) compared to OTRFX (0.53%). In terms of maximum drawdown, OTRFX dropped -9.73% vs DNAVX's -17.73%.
OTRFX currently has the higher Sharpe Ratio (2.83 vs 0.63), 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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