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TFAZX vs. DCAIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

TFAZX vs. DCAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TFA Tactical Income Fund (TFAZX) and Dunham Long/Short Credit Fund (DCAIX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TFAZX achieves a 2.00% return, which is significantly higher than DCAIX's 1.12% return.


TFAZX

1D
0.00%
1M
0.23%
YTD
2.00%
6M
1.80%
1Y
7.24%
3Y*
2.60%
5Y*
-0.66%
10Y*

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

TFAZX vs. DCAIX - Yearly Performance Comparison


2026 (YTD)2025202420232022202120202019
TFAZX
TFA Tactical Income Fund
2.00%5.78%-1.56%-0.20%-9.93%5.85%2.99%4.44%
DCAIX
Dunham Long/Short Credit Fund
1.12%2.47%3.78%0.60%-2.64%1.47%4.11%2.60%

Correlation

The correlation between TFAZX and DCAIX is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.07

Correlation (3Y)
Calculated over the trailing 3-year period

-0.15

Correlation (5Y)
Calculated over the trailing 5-year period

-0.12

Correlation (All Time)
Calculated using the full available price history since Jun 14, 2019

-0.05

The correlation between TFAZX and DCAIX shifts across timeframes, from -0.15 (3 years) to 0.07 (1 year), reflecting how their relationship changes across market environments.

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Return for Risk

TFAZX vs. DCAIX — Risk / Return Rank

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

TFAZX
TFAZX Risk / Return Rank: 3232
Overall Rank
TFAZX Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
TFAZX Sortino Ratio Rank: 2828
Sortino Ratio Rank
TFAZX Omega Ratio Rank: 3434
Omega Ratio Rank
TFAZX Calmar Ratio Rank: 3131
Calmar Ratio Rank
TFAZX Martin Ratio Rank: 3737
Martin Ratio Rank

DCAIX
DCAIX Risk / Return Rank: 9292
Overall Rank
DCAIX Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
DCAIX Sortino Ratio Rank: 8989
Sortino Ratio Rank
DCAIX Omega Ratio Rank: 9696
Omega Ratio Rank
DCAIX Calmar Ratio Rank: 9797
Calmar Ratio Rank
DCAIX Martin Ratio Rank: 9595
Martin Ratio Rank
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.

TFAZX vs. DCAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TFA Tactical Income Fund (TFAZX) 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.


TFAZXDCAIXDifference
Sharpe ratioReturn per unit of total volatility

-0.97

Sortino ratioReturn per unit of downside risk

-1.95

Omega ratioGain probability vs. loss probability

1.29

1.82

-0.54

Calmar ratioReturn relative to maximum drawdown

1.98

6.55

-4.58

Martin ratioReturn relative to average drawdown

7.78

20.09

-12.31

TFAZX vs. DCAIX - Sharpe Ratio Comparison

The current TFAZX Sharpe Ratio is 1.47, which is lower than the DCAIX Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of TFAZX and DCAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Drawdowns

TFAZX vs. DCAIX - Drawdown Comparison

The maximum TFAZX drawdown since its inception was -17.69%, smaller than the maximum DCAIX drawdown of -46.34%. Use the drawdown chart below to compare losses from any high point for TFAZX and DCAIX.


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Drawdown Indicators


TFAZXDCAIXDifference

Max Drawdown

Largest peak-to-trough decline

-17.69%

-46.34%

+28.65%

Max Drawdown (1Y)

Largest decline over 1 year

-3.84%

-0.37%

-3.47%

Max Drawdown (3Y)

Largest decline over 3 years

-7.15%

-0.85%

-6.30%

Max Drawdown (5Y)

Largest decline over 5 years

-16.73%

-5.45%

-11.28%

Max Drawdown (10Y)

Largest decline over 10 years

-6.53%

Current Drawdown

Current decline from peak

-6.28%

-0.12%

-6.16%

Average Drawdown

Average peak-to-trough decline

-8.03%

-5.96%

-2.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.97%

0.12%

+0.85%

Volatility

TFAZX vs. DCAIX - Volatility Comparison

TFA Tactical Income Fund (TFAZX) has a higher volatility of 1.56% compared to Dunham Long/Short Credit Fund (DCAIX) at 0.33%. This indicates that TFAZX'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


TFAZXDCAIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.56%

0.33%

+1.23%

Volatility (6M)

Calculated over the trailing 6-month period

3.87%

0.69%

+3.18%

Volatility (1Y)

Calculated over the trailing 1-year period

5.18%

1.01%

+4.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.44%

1.58%

+3.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.96%

3.93%

+3.03%

TFAZX vs. DCAIX - Expense Ratio Comparison

TFAZX has a 1.97% expense ratio, which is lower than DCAIX's 1.98% expense ratio.


Dividends

TFAZX vs. DCAIX - Dividend Comparison

TFAZX's dividend yield for the trailing twelve months is around 2.12%, less than DCAIX's 3.64% yield.


PositionTTM20252024202320222021202020192018201720162015
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%
TFAZX
TFA Tactical Income Fund
2.12%2.16%0.00%3.05%0.97%16.23%1.04%0.62%0.00%0.00%0.00%0.00%

Frequently Asked Questions


TFAZX and DCAIX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TFAZX has higher volatility (1.56%) compared to DCAIX (0.33%). In terms of maximum drawdown, TFAZX dropped -17.69% vs DCAIX's -46.34%.

DCAIX currently has the higher Sharpe Ratio (2.44 vs 1.47), 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.

Portfolio Optimizer

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