XSIAX vs. DAFRX

Last updated Jun 5, 2026

XSIAX (Voya Senior Income Fund) and DAFRX (Dunham Floating Rate Bond Fund) are both Bank Loan funds. Over the past 5 years, XSIAX returned 3.55%/yr vs 5.10%/yr for DAFRX. A 0.53 correlation means they provide meaningful diversification when combined. XSIAX charges 1.51%/yr vs 1.29%/yr for DAFRX.

Performance

XSIAX vs. DAFRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Senior Income Fund (XSIAX) and Dunham Floating Rate Bond Fund (DAFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSIAX achieves a 0.73% return, which is significantly lower than DAFRX's 2.02% return.

XSIAX

• 1D: -0.22%
• 1M: 0.10%
• YTD: 0.73%
• 6M: 1.37%
• 1Y: 3.95%
• 3Y*: 6.79%
• 5Y*: 3.55%
• 10Y*: —

DAFRX

• 1D: -0.12%
• 1M: 0.55%
• YTD: 2.02%
• 6M: 2.26%
• 1Y: 5.04%
• 3Y*: 7.84%
• 5Y*: 5.10%
• 10Y*: 3.95%

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

XSIAX vs. DAFRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSIAX Voya Senior Income Fund	0.73%	4.91%	7.42%	14.32%	-10.33%	5.87%	-5.85%	5.70%	-1.20%	-0.66%
DAFRX Dunham Floating Rate Bond Fund	2.02%	5.04%	7.26%	13.05%	-2.54%	3.51%	-0.09%	7.18%	-1.06%	2.35%

Correlation

The correlation between XSIAX and DAFRX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Feb 2, 2017	0.53

The correlation between XSIAX and DAFRX shifts across timeframes, from 0.38 (3 years) to 0.53 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XSIAX vs. DAFRX — Risk / Return Rank

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

XSIAX

XSIAX Risk / Return Rank: 37
XSIAX Sharpe Ratio Rank: 25
XSIAX Sortino Ratio Rank: 44
XSIAX Omega Ratio Rank: 46
XSIAX Calmar Ratio Rank: 30
XSIAX Martin Ratio Rank: 38

DAFRX

DAFRX Risk / Return Rank: 83
DAFRX Sharpe Ratio Rank: 91
DAFRX Sortino Ratio Rank: 93
DAFRX Omega Ratio Rank: 94
DAFRX Calmar Ratio Rank: 79
DAFRX Martin Ratio Rank: 57

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.

XSIAX vs. DAFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Senior Income Fund (XSIAX) and Dunham Floating Rate Bond Fund (DAFRX). 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.

	XSIAX	DAFRX	Difference
Sharpe ratio: Return per unit of total volatility	1.40	2.99	-1.58
Sortino ratio: Return per unit of downside risk	2.71	4.75	-2.04
Omega ratio: Gain probability vs. loss probability	1.35	1.75	-0.40
Calmar ratio: Return relative to maximum drawdown	1.99	3.48	-1.49
Martin ratio: Return relative to average drawdown	8.15	11.22	-3.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSIAX vs. DAFRX - Sharpe Ratio Comparison

The current XSIAX Sharpe Ratio is 1.40, which is lower than the DAFRX Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of XSIAX and DAFRX, 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

	XSIAX	DAFRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	2.99	-1.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	2.29	-1.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.17	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	1.10	-0.73

Drawdowns

XSIAX vs. DAFRX - Drawdown Comparison

The maximum XSIAX drawdown since its inception was -29.91%, which is greater than DAFRX's maximum drawdown of -19.42%. Use the drawdown chart below to compare losses from any high point for XSIAX and DAFRX.

Drawdown Indicators

	XSIAX	DAFRX	Difference
Max Drawdown Largest peak-to-trough decline	-29.91%	-19.42%	-10.49%
Max Drawdown (1Y) Largest decline over 1 year	-2.22%	-1.45%	-0.77%
Max Drawdown (3Y) Largest decline over 3 years	-3.66%	-3.34%	-0.32%
Max Drawdown (5Y) Largest decline over 5 years	-12.87%	-7.08%	-5.79%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.42%	—
Current Drawdown Current decline from peak	-0.32%	-0.12%	-0.20%
Average Drawdown Average peak-to-trough decline	-3.27%	-0.97%	-2.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.51%	0.45%	+0.06%

Volatility

XSIAX vs. DAFRX - Volatility Comparison

Voya Senior Income Fund (XSIAX) has a higher volatility of 1.13% compared to Dunham Floating Rate Bond Fund (DAFRX) at 0.38%. This indicates that XSIAX's price experiences larger fluctuations and is considered to be riskier than DAFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSIAX	DAFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	0.38%	+0.75%
Volatility (6M) Calculated over the trailing 6-month period	2.51%	1.30%	+1.21%
Volatility (1Y) Calculated over the trailing 1-year period	3.15%	1.70%	+1.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.03%	2.24%	+1.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.51%	3.38%	+2.13%

XSIAX vs. DAFRX - Expense Ratio Comparison

XSIAX has a 1.51% expense ratio, which is higher than DAFRX's 1.29% expense ratio.

Dividends

XSIAX vs. DAFRX - Dividend Comparison

XSIAX's dividend yield for the trailing twelve months is around 6.63%, less than DAFRX's 7.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DAFRX Dunham Floating Rate Bond Fund	7.38%	7.26%	7.87%	8.91%	5.76%	3.13%	3.27%	4.36%	4.30%	3.31%	3.01%	3.13%
XSIAX Voya Senior Income Fund	6.63%	6.38%	8.83%	9.44%	4.34%	3.56%	4.13%	4.47%	5.63%	1.82%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XSIAX and DAFRX in my portfolio?

XSIAX and DAFRX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XSIAX or DAFRX?

XSIAX has higher volatility (1.13%) compared to DAFRX (0.38%). In terms of maximum drawdown, XSIAX dropped -29.91% vs DAFRX's -19.42%.

Which has better risk-adjusted returns?

DAFRX currently has the higher Sharpe Ratio (2.99 vs 1.40), 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.