Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.9%
1 yr return
11.3%
3 Yr Avg Return
-0.6%
5 Yr Avg Return
0.4%
Net Assets
$61.6 M
Holdings in Top 10
12.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.94%
SALES FEES
Front Load 4.50%
Deferred Load N/A
TRADING FEES
Turnover 40.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
$2,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DAIOX - Profile
Distributions
- YTD Total Return 1.9%
- 3 Yr Annualized Total Return -0.6%
- 5 Yr Annualized Total Return 0.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.96%
- Dividend Yield 3.6%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameDunham International Opportunity Bond Fund
-
Fund Family NameDunham Funds
-
Inception DateNov 01, 2013
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerWilliam Perry
Fund Description
The Funds Sub-Adviser seeks to achieve the Funds investment objectives by investing, under normal market conditions, at least 80% of the Funds assets (defined as net assets plus borrowings for investment purposes) in bonds. The Fund defines bonds as bonds, adjustable rate securities, derivatives and other instruments with similar economic exposures (including interest rate futures, interest rate swaps, inflation swaps, credit default swaps, forward contracts on foreign exchanges, forward mortgage-backed securities trades and repurchase agreements) of foreign government and corporate issuers. These securities may be issued in reliance on Rule 144A under the Securities Act of 1933, and subject to restriction on resale. The Fund primarily invests in issuers outside the United States.
The Fund invests in debt securities of issuers in both developed and emerging markets. The Fund may buy securities issued by companies of any size or market capitalization and it can invest in debt securities having short, intermediate or long maturities. The Fund does not limit its investments to a particular credit quality or rating category and can invest without limit in securities rated below investment grade (known as high-yield or junk bonds) by a nationally recognized statistical rating organization (NRSRO) or in unrated securities.
The Fund may also use derivatives to seek increased returns or to try to manage investment risks, including but not limited to options, forward contracts, futures contracts, swaps (including interest rate swaps, inflation swaps and credit default swaps), and structured notes. The Sub-Adviser may manage foreign currency exposure, both to reduce risk and to seek to enhance returns. To do so, the Fund may invest in foreign exchange derivatives, including forwards and options related to foreign currencies, including currencies of both developed and emerging market countries.
The Funds Sub-Adviser constructs portfolios through a combination of bottom-up security selection and top-down asset allocation, thereby accounting for security specific risk and broad market and asset class volatility. The Sub-Advisers opportunity set encompasses a Non-U.S issuer universe of global credit markets including Pan European High Yield, Emerging Markets Sovereign Debt, Developed Markets Investment Grade Corporate Debt, Developed Markets Government Debt, and Emerging Markets Corporate Debt. Generally, individual opportunities are identified through a rigorous fundamental credit analysis process applied across global markets and across the capital structure of issuers. The Sub-Adviser also evaluates each security on a relative value basis to other potential investments. The Sub-Adviser manages broad volatility risks through setting total risk levels and asset class exposures. The Sub-Adviser evaluates each potential investment to determine its contribution to overall portfolio risk. It generally sells securities when full valuation is reached, when a security comes up materially short versus expected results, or if alternative investments have been identified as offering better value. Investment exposures typically focus on the higher yielding spread markets, however the strategy retains the flexibility to take a more defensive position as deemed appropriate.
The Fund may also engage in securities lending.
DAIOX - Performance
Return Ranking - Trailing
Period | DAIOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.9% | -59.5% | 0.9% | 37.86% |
1 Yr | 11.3% | -15.5% | 19.7% | 40.38% |
3 Yr | -0.6%* | -4.3% | 4.2% | 82.09% |
5 Yr | 0.4%* | -2.5% | 4.1% | 85.11% |
10 Yr | -0.7%* | -3.0% | 2.7% | N/A |
* Annualized
Return Ranking - Calendar
Period | DAIOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.0% | -15.2% | 0.9% | 22.00% |
2022 | -19.8% | -10.9% | 12.2% | 85.05% |
2021 | -4.9% | -10.8% | 14.8% | 69.27% |
2020 | 1.4% | -15.3% | 0.6% | 67.63% |
2019 | 3.6% | -44.4% | 14.4% | 15.95% |
Total Return Ranking - Trailing
Period | DAIOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.9% | -59.5% | 0.9% | 35.92% |
1 Yr | 11.3% | -16.6% | 30.5% | 87.20% |
3 Yr | -0.6%* | -5.2% | 10.9% | 94.20% |
5 Yr | 0.4%* | -2.8% | 7.4% | 92.78% |
10 Yr | -0.7%* | -3.0% | 3.6% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | DAIOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.2% | -15.2% | 0.9% | 22.00% |
2022 | -14.1% | -10.9% | 12.2% | 85.05% |
2021 | -2.2% | -10.8% | 14.8% | 69.27% |
2020 | 3.8% | -15.3% | 3.8% | 71.10% |
2019 | 4.1% | -44.4% | 14.4% | 23.31% |
NAV & Total Return History
DAIOX - Holdings
Concentration Analysis
DAIOX | Category Low | Category High | DAIOX % Rank | |
---|---|---|---|---|
Net Assets | 61.6 M | 74.5 K | 14.7 B | 78.92% |
Number of Holdings | 418 | 4 | 4562 | 45.02% |
Net Assets in Top 10 | 6.87 M | -112 M | 3.66 B | 68.72% |
Weighting of Top 10 | 12.62% | 4.7% | 100.0% | 90.87% |
Top 10 Holdings
- FID-MM GOVT-I 3.56%
- BTPS 2.8 12/01/28 1.38%
- BANORT 6 3/4 PERP 1.11%
- SIERRA 6 06/15/28 1.07%
- BTPS 2.45 09/01/33 1.03%
- TLWLN 7 03/01/25 0.98%
- METINV 7 3/4 10/17/29 0.95%
- PNSTTA 6 5/8 06/17/31 0.89%
- NGGLN 0.163 01/20/28 0.82%
- AICNRA 5 3/4 06/15/33 0.82%
Asset Allocation
Weighting | Return Low | Return High | DAIOX % Rank | |
---|---|---|---|---|
Bonds | 91.77% | 0.00% | 220.33% | 59.24% |
Cash | 7.31% | -130.07% | 95.62% | 40.76% |
Convertible Bonds | 2.96% | 0.00% | 11.19% | 19.91% |
Other | 0.93% | -9.71% | 100.00% | 29.86% |
Stocks | 0.00% | 0.00% | 7.47% | 47.39% |
Preferred Stocks | 0.00% | 0.00% | 2.87% | 27.96% |
Bond Sector Breakdown
Weighting | Return Low | Return High | DAIOX % Rank | |
---|---|---|---|---|
Corporate | 41.62% | 0.00% | 98.62% | 15.87% |
Government | 21.30% | 0.30% | 99.47% | 92.31% |
Cash & Equivalents | 3.56% | 0.00% | 95.62% | 61.54% |
Securitized | 0.26% | 0.00% | 52.02% | 78.85% |
Municipal | 0.00% | 0.00% | 7.95% | 50.48% |
Derivative | -0.09% | 0.00% | 74.77% | 12.98% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | DAIOX % Rank | |
---|---|---|---|---|
US | 56.08% | -5.52% | 107.53% | 70.62% |
Non US | 35.69% | 0.00% | 112.80% | 17.54% |
DAIOX - Expenses
Operational Fees
DAIOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.94% | 0.02% | 3.65% | 4.78% |
Management Fee | 1.07% | 0.00% | 2.08% | 98.54% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 19.19% |
Administrative Fee | N/A | 0.01% | 0.45% | 46.69% |
Sales Fees
DAIOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 4.50% | 0.00% | 5.00% | 17.14% |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
DAIOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 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.
DAIOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 40.00% | 6.00% | 354.00% | 17.16% |
DAIOX - Distributions
Dividend Yield Analysis
DAIOX | Category Low | Category High | DAIOX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.55% | 0.00% | 17.40% | 6.64% |
Dividend Distribution Analysis
DAIOX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
DAIOX | Category Low | Category High | DAIOX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.96% | -1.08% | 5.77% | 37.25% |
Capital Gain Distribution Analysis
DAIOX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 01, 2024 | $0.023 | OrdinaryDividend |
Feb 01, 2024 | $0.029 | OrdinaryDividend |
Dec 28, 2023 | $0.051 | OrdinaryDividend |
Dec 01, 2023 | $0.027 | OrdinaryDividend |
Sep 01, 2023 | $0.015 | OrdinaryDividend |
Aug 01, 2023 | $0.014 | OrdinaryDividend |
Jul 03, 2023 | $0.015 | OrdinaryDividend |
Jun 01, 2023 | $0.016 | OrdinaryDividend |
Apr 03, 2023 | $0.011 | OrdinaryDividend |
Mar 01, 2023 | $0.004 | OrdinaryDividend |
Feb 01, 2023 | $0.003 | OrdinaryDividend |
Dec 29, 2022 | $0.223 | OrdinaryDividend |
Dec 01, 2022 | $0.033 | OrdinaryDividend |
Nov 01, 2022 | $0.030 | OrdinaryDividend |
Oct 03, 2022 | $0.027 | OrdinaryDividend |
Sep 01, 2022 | $0.026 | OrdinaryDividend |
Aug 01, 2022 | $0.026 | OrdinaryDividend |
Jul 01, 2022 | $0.029 | OrdinaryDividend |
Jun 01, 2022 | $0.025 | OrdinaryDividend |
May 02, 2022 | $0.023 | OrdinaryDividend |
Apr 01, 2022 | $0.030 | OrdinaryDividend |
Mar 01, 2022 | $0.024 | OrdinaryDividend |
Feb 01, 2022 | $0.019 | OrdinaryDividend |
Nov 30, 2021 | $0.020 | OrdinaryDividend |
Oct 29, 2021 | $0.016 | OrdinaryDividend |
Sep 30, 2021 | $0.018 | OrdinaryDividend |
Aug 31, 2021 | $0.017 | OrdinaryDividend |
Jul 30, 2021 | $0.017 | OrdinaryDividend |
Jun 30, 2021 | $0.017 | OrdinaryDividend |
May 28, 2021 | $0.015 | OrdinaryDividend |
Apr 30, 2021 | $0.015 | OrdinaryDividend |
Mar 31, 2021 | $0.016 | OrdinaryDividend |
Feb 26, 2021 | $0.014 | OrdinaryDividend |
Jan 29, 2021 | $0.013 | OrdinaryDividend |
Dec 30, 2020 | $0.037 | OrdinaryDividend |
Nov 30, 2020 | $0.011 | OrdinaryDividend |
Oct 30, 2020 | $0.008 | OrdinaryDividend |
Sep 30, 2020 | $0.004 | OrdinaryDividend |
Aug 31, 2020 | $0.013 | OrdinaryDividend |
Jul 31, 2020 | $0.012 | OrdinaryDividend |
Jun 30, 2020 | $0.015 | OrdinaryDividend |
May 29, 2020 | $0.016 | OrdinaryDividend |
Apr 30, 2020 | $0.008 | OrdinaryDividend |
Mar 31, 2020 | $0.010 | OrdinaryDividend |
Feb 28, 2020 | $0.006 | OrdinaryDividend |
Jan 31, 2020 | $0.001 | OrdinaryDividend |
Dec 27, 2019 | $0.022 | OrdinaryDividend |
Dec 31, 2018 | $0.024 | OrdinaryDividend |
Dec 31, 2015 | $0.004 | OrdinaryDividend |
Nov 28, 2014 | $0.003 | OrdinaryDividend |
Oct 31, 2014 | $0.006 | OrdinaryDividend |
Aug 29, 2014 | $0.004 | OrdinaryDividend |
Jul 31, 2014 | $0.004 | OrdinaryDividend |
Jun 30, 2014 | $0.009 | OrdinaryDividend |
May 30, 2014 | $0.002 | OrdinaryDividend |
Apr 30, 2014 | $0.003 | OrdinaryDividend |
Mar 31, 2014 | $0.001 | OrdinaryDividend |
Feb 28, 2014 | $0.003 | OrdinaryDividend |
Jan 31, 2014 | $0.003 | OrdinaryDividend |
Dec 31, 2013 | $0.005 | OrdinaryDividend |
Nov 29, 2013 | $0.002 | OrdinaryDividend |
DAIOX - Fund Manager Analysis
Managers
William Perry
Start Date
Tenure
Tenure Rank
Jan 02, 2020
2.41
2.4%
William joined the team in 2012. Prior to joining Stone Harbor, William served as an Emerging Markets Corporate Portfolio Manager at Morgan Stanley Investment Management. Prior to Morgan Stanley, William served as a Managing Director/Portfolio Manager in the Global Special Opportunities Group for Latin American Special Situations at JPMorgan/Chase. While at JPMorgan, he also served in a series of roles including Credit Risk Manager for the Global Head of Emerging Markets, Co-Head of Emerging Markets Corporate Research, and as a Vice President for Global Emerging Markets Debt Restructuring, and Latin American Capital Market. Prior to JPMorgan, William served as a Senior Associate in the Investment Banking Group at Bank of America Securities Inc. William began his career as an Associate in the Petroleum Division at Irving Trust Company. He attained a BA in International Relations and Economics from Colgate University and an MBA in Finance from the Columbia Business School.
Peter Wilby
Start Date
Tenure
Tenure Rank
Jan 02, 2020
2.41
2.4%
Peter founded the team in 1989. Prior to founding Stone Harbor in 2006, Peter was Chief Investment Officer of North American Fixed Income at Citigroup Asset Management, as well as a member of Citigroup Asset Management’s Executive Committee. Additionally, he served as Senior Portfolio Manager responsible for directing investment policy and strategy for all Emerging Markets Debt and High Yield portfolios. Peter was the Head of Fixed Income, a Senior Portfolio Manager for Emerging Markets Debt and High Yield, and a member of the Investment Policy Committee at Salomon Brothers Asset Management. Earlier in his career Peter was at Prudential Investment Co. where he was a Fixed Income Portfolio Manager specializing in High Yield Debt securities and also Director of the Credit Research Unit, responsible for all Corporate and Sovereign Credit Research. He began his career at Deloitte, Haskin & Sells where he served in the Audit and Tax Department. He is a Certified Public Accountant and member of the CFA Institute, the CFA Society New York, and the Council on Foreign Relations. He attained a BBA and MBA in Accounting from Pace University.
David Scott
Start Date
Tenure
Tenure Rank
Jan 02, 2020
2.41
2.4%
David joined the team in 1994. Prior to joining Stone Harbor, David served as a Managing Director, Investment Policy Committee member and Head of the Traditional Investment Group responsible for the traditional bond product at Salomon Brothers Asset Management. Prior to his time with Salomon Brothers, David served as a Global Fixed Income Portfolio Manager at J.P. Morgan Investment Management. Earlier in his career, he served as a US Dollar Portfolio Manager at Mercury Asset Management and served as a Consultant Actuary for the Wyatt Company. David attained a BSc in Mathematics and Economics from Nottingham University, England.
David Torchia
Start Date
Tenure
Tenure Rank
Jan 02, 2020
2.41
2.4%
David joined the team in 1990. Prior to joining Stone Harbor, David served as Managing Director and Senior Portfolio Manager responsible for directing investment policy and strategy for all Investment Grade U.S. Fixed Income Portfolios at Citigroup Asset Management. David served as an Investment Policy Committee Member at Salomon Brothers Asset Management and as a Manager of Structured Portfolios for the Bond Portfolio Analysis Group at Salomon Brothers Inc. He attained a BS in Industrial Engineering from the University of Pittsburgh and an MBA in Finance from Lehigh University.
James Craige
Start Date
Tenure
Tenure Rank
Jan 02, 2020
2.41
2.4%
James E. Craige, Since December 2018, Co-Chief Investment Officer of Stone Harbor; From April 2006 to December 2018, Portfolio Manager of Stone Harbor; Prior to April 2006, Managing Director and Senior Portfolio Manager for emerging markets debt portfolios at Salomon Brothers Asset Management Inc.; Joined Salomon Brothers Asset Management Inc. in 1992. Craige holds the Chartered Financial Analyst designation.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.02 | 28.31 | 6.8 | 3.67 |