DAAIX: Dunham Appreciation & Income A

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DAAIX Dunham Appreciation & Income A


Profile

DAAIX - Profile

Vitals

  • YTD Return 1.6%
  • 3 Yr Annualized Return 5.3%
  • 5 Yr Annualized Return 0.3%
  • Net Assets $110 M
  • Holdings in Top 10 27.8%

52 WEEK LOW AND HIGH

$9.47
$8.99
$9.47

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.48%

SALES FEES

  • Front Load 5.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 426.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $5,000
  • IRA $2,000

Fund Classification

  • Primary Caregory Uncategorized
  • Fund Type Open End Mutual Fund
  • Investment Style Long-Short Credit

Distributions

  • YTD Total Return 1.6%
  • 3 Yr Annualized Total Return 6.6%
  • 5 Yr Annualized Total Return 2.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.36%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Dunham Long/Short Credit Fund
  • Fund Family Name
    Dunham Funds
  • Inception Date
    Jan 03, 2007
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Andrew Kronschnabel

Fund Description

The fund's Sub-Adviser seeks to achieve the investment objective by investing normally at least 80% of its assets (defined as net assets plus borrowing for investment purposes) in various credit-related instruments. It may invest in credit-related instruments rated below investment grade, which are commonly referred to as "junk bonds." The fund may invest up to 20% of its total assets in equity instruments, including common stock and other instruments whose price is linked to the value of common stock.


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Categories

Performance

DAAIX - Performance

Return Ranking - Trailing

Period DAAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% -14.4% 35.7% 40.00%
1 Yr 1.9% -18.6% 26.5% 45.26%
3 Yr 5.3%* -28.8% 14.0% 13.92%
5 Yr 0.3%* -20.4% 7.5% 62.75%
10 Yr 1.9%* -2.5% 4.1% 61.54%

* Annualized

Return Ranking - Calendar

Period DAAIX Return Category Return Low Category Return High Rank in Category (%)
2019 3.7% -12.2% 28.0% 68.42%
2018 3.3% -41.4% 3.4% 2.22%
2017 9.3% -67.1% 21.4% 23.08%
2016 -1.8% -17.3% 25.3% 62.32%
2015 -9.0% -14.2% 11.6% 94.00%

Total Return Ranking - Trailing

Period DAAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% -14.4% 35.7% 40.00%
1 Yr 1.9% -18.6% 26.5% 45.26%
3 Yr 6.6%* -12.9% 14.0% 11.39%
5 Yr 2.9%* -4.8% 7.8% 35.29%
10 Yr 5.9%* -0.9% 6.1% 15.38%

* Annualized

Total Return Ranking - Calendar

Period DAAIX Return Category Return Low Category Return High Rank in Category (%)
2019 4.0% -12.2% 28.0% 67.37%
2018 4.9% -21.4% 5.2% 2.22%
2017 11.3% -2.5% 25.0% 38.46%
2016 0.9% -7.5% 25.3% 56.52%
2015 -3.2% -14.2% 11.6% 80.00%

NAV & Total Return History


Holdings

DAAIX - Holdings

Concentration Analysis

DAAIX Category Low Category High DAAIX % Rank
Net Assets 110 M 1.37 M 1.75 B 44.68%
Number of Holdings 86 6 2337 66.30%
Net Assets in Top 10 2.23 M -111 M 481 M 75.00%
Weighting of Top 10 27.84% 14.6% 95.8% 51.90%

Top 10 Holdings

  1. Iboxxhy Swap 8.28%
  2. Iboxxhy Swap 4.60%
  3. Sempra Energy 1.72% 2.45%
  4. Takeda Pharmaceutical Company Limited 3.18% 2.44%
  5. Exelon Corporation 4.7% 1.79%
  6. Uirc-Gsa International, Llc 0% 1.74%
  7. United States Treasury Bonds 2% 1.73%
  8. JPMorgan Chase & Co. 1.24% 1.64%
  9. CCL Industries Inc 3.05% 1.61%
  10. Hard Rock Northern Indiana Adj% 11/07/2025 1.56%

Asset Allocation

Weighting Return Low Return High DAAIX % Rank
Cash
65.75% -16.68% 166.14% 15.22%
Bonds
42.89% 0.00% 75.97% 31.91%
Preferred Stocks
3.62% 0.00% 3.68% 2.17%
Convertible Bonds
0.59% 0.00% 20.87% 39.13%
Stocks
0.02% -8.34% 79.11% 89.36%
Other
-12.88% -66.14% 68.50% 95.65%

Stock Sector Breakdown

Weighting Return Low Return High DAAIX % Rank
Communication Services
100.00% 0.00% 100.00% 1.20%
Utilities
0.00% 0.00% 63.57% 77.11%
Technology
0.00% 0.00% 29.73% 86.75%
Real Estate
0.00% 0.00% 16.28% 89.16%
Industrials
0.00% 0.00% 26.94% 87.95%
Healthcare
0.00% 0.00% 32.34% 92.77%
Financial Services
0.00% 0.00% 100.00% 89.16%
Energy
0.00% 0.00% 60.15% 73.49%
Consumer Defense
0.00% 0.00% 15.66% 74.70%
Consumer Cyclical
0.00% 0.00% 33.57% 86.75%
Basic Materials
0.00% 0.00% 81.58% 75.90%

Stock Geographic Breakdown

Weighting Return Low Return High DAAIX % Rank
US
0.02% -8.90% 76.68% 84.78%
Non US
0.00% -6.48% 64.14% 70.65%

Bond Sector Breakdown

Weighting Return Low Return High DAAIX % Rank
Cash & Equivalents
57.91% 0.82% 100.00% 57.61%
Corporate
39.17% 0.00% 95.40% 22.83%
Government
2.82% 0.00% 98.28% 27.17%
Derivative
0.10% 0.00% 67.82% 26.09%
Securitized
0.00% 0.00% 57.45% 41.30%
Municipal
0.00% 0.00% 1.06% 29.35%

Bond Geographic Breakdown

Weighting Return Low Return High DAAIX % Rank
US
35.92% 0.00% 69.83% 30.43%
Non US
6.97% 0.00% 31.69% 26.09%

Expenses

DAAIX - Expenses

Operational Fees

DAAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.48% 0.90% 12.57% 82.11%
Management Fee 0.91% 0.35% 2.00% 20.00%
12b-1 Fee 0.25% 0.00% 1.00% 32.26%
Administrative Fee N/A 0.04% 0.45% 11.36%

Sales Fees

DAAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 3.25% 5.75% 11.76%
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

DAAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

DAAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 426.00% 0.00% 446.00% 96.67%

Distributions

DAAIX - Distributions

Dividend Yield Analysis

DAAIX Category Low Category High DAAIX % Rank
Dividend Yield 0.00% 0.00% 0.36% 17.89%

Dividend Distribution Analysis

DAAIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Annually

Net Income Ratio Analysis

DAAIX Category Low Category High DAAIX % Rank
Net Income Ratio 2.36% -2.48% 4.55% 23.16%

Capital Gain Distribution Analysis

DAAIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

DAAIX - Fund Manager Analysis

Managers

Andrew Kronschnabel


Start Date

Tenure

Tenure Rank

Jul 02, 2018

2.08

2.1%

Andrew Kronschnabel is a portfolio manager and leads investment grade credit for MetLife Investment Management (MIM) Public Fixed Income. Kronschnabel joined MIM in September 2017, in connection with the acquisition of Logan Circle Partners (LCP) by MetLife. He is responsible for high grade credit across all core-based, corporate and long / short credit strategies. Prior to joining LCP in 2007, he was a member of the portfolio management team at Delaware Investments where he was responsible for core-based and high-grade products from 2000 to 2007.

Joshua Lofgren


Start Date

Tenure

Tenure Rank

Jul 02, 2018

2.08

2.1%

Mr. Lofgren is a portfolio manager involved in all high grade credit strategies and the Long / Short credit strategy at Logan Circle. Prior to joining Logan Circle in 2012, Mr. Lofgren worked in the securities division at Goldman Sachs in New York for nine years, working with institutional clients across a range of credit products, including investment grade and high yield credit, in both cash and derivative form. Mr. Lofgren has a Bachelor of Science in Business Administration with a concentration in finance from the University of Richmond and is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.42 19.43 4.96 6.1