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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.42

$189 M

3.92%

$0.33

1.88%

Vitals

YTD Return

1.1%

1 yr return

4.1%

3 Yr Avg Return

0.0%

5 Yr Avg Return

1.5%

Net Assets

$189 M

Holdings in Top 10

51.5%

52 WEEK LOW AND HIGH

$8.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.88%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 343.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000

IRA

$2,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.42

$189 M

3.92%

$0.33

1.88%

DCAIX - Profile

Distributions

  • YTD Total Return 1.1%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.37%
DIVIDENDS
  • Dividend Yield 3.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Dunham Long/Short Credit Fund
  • Fund Family Name
    Dunham Funds
  • Inception Date
    Dec 13, 2004
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Joshua Lofgren

Fund Description

The Fund’s Sub-Adviser seeks to achieve the Fund’s 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. Credit-related instruments include, but are not limited to, U.S. Government and agency securities, foreign government and supranational debt securities, corporate bonds, emerging market debt securities, preferred securities, structured products, senior secured floating rate and fixed rate loans or debt, second lien or other subordinated or unsecured floating rate and fixed rate loans or debt, and derivatives with similar economic characteristics. The Fund may invest in credit-related instruments rated below investment grade, which are commonly referred to as “junk bonds.” These securities may be issued in reliance on Rule 144A under the Securities Act of 1933, and subject to restriction on resale.

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. The Fund may hold long or short positions in equity instruments, and may invest in equity instruments of issuers of any market capitalization.

The Fund may also gain both long and short exposure to credit-related instruments by entering into a series of purchase and sale contracts or by investing in, among other instruments, swaps, including total return, credit default and index swaps; options; forward contracts and futures contracts that provide long or short exposure to other credit obligations; and other similar transactions.

The Fund may engage in short sales for hedging purposes or to enhance total return. The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.

When selecting individual securities, the Sub-Adviser focuses on supply/demand factors, historical value trends, and new issue opportunities combined with company-specific research, industry analysis, and its view on overall credit trends. The Sub-Adviser incorporates its quantitative and qualitative analysis to determine the optimal security to purchase in the company’s capital structure as well as to determine the desired allocation to each security or derivative. The Sub-Adviser utilizes short positions and derivatives to manage various risk exposures, including interest rate risk and credit risk.

The Fund may also engage in securities lending.

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DCAIX - Performance

Return Ranking - Trailing

Period DCAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.1% -6.5% 5.7% 50.54%
1 Yr 4.1% -9.3% 24.0% 87.17%
3 Yr 0.0%* -16.7% 18.1% 57.40%
5 Yr 1.5%* -13.0% 15.2% 66.04%
10 Yr 2.4%* -13.4% 6.7% 49.10%

* Annualized

Return Ranking - Calendar

Period DCAIX Return Category Return Low Category Return High Rank in Category (%)
2023 -3.3% -12.0% 15.7% 95.83%
2022 -5.1% -31.8% 18.4% 8.39%
2021 -0.8% -26.6% 25.7% 34.48%
2020 1.7% -49.2% 18.7% 53.18%
2019 3.4% -35.1% 15.3% 69.33%

Total Return Ranking - Trailing

Period DCAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.1% -6.5% 5.7% 50.54%
1 Yr 4.1% -9.3% 24.0% 87.17%
3 Yr 0.0%* -16.7% 18.1% 57.40%
5 Yr 1.5%* -13.0% 15.2% 66.04%
10 Yr 2.4%* -13.4% 6.7% 49.10%

* Annualized

Total Return Ranking - Calendar

Period DCAIX Return Category Return Low Category Return High Rank in Category (%)
2023 0.6% -7.0% 22.2% 95.22%
2022 -2.6% -31.8% 21.1% 14.40%
2021 1.5% -13.5% 49.9% 59.15%
2020 4.2% -28.6% 24.1% 62.01%
2019 7.0% -4.8% 19.1% 68.57%

NAV & Total Return History


DCAIX - Holdings

Concentration Analysis

DCAIX Category Low Category High DCAIX % Rank
Net Assets 189 M 2.32 M 127 B 74.42%
Number of Holdings 67 2 10577 88.47%
Net Assets in Top 10 96.9 M -1.57 B 65.8 B 59.79%
Weighting of Top 10 51.49% 0.7% 170.6% 21.60%

Top 10 Holdings

  1. B 12/14/23 10.92%
  2. B 11/16/23 9.69%
  3. B 01/16/24 9.08%
  4. FRST AM-GV OB-X 5.50%
  5. BPCEGP 5.975 01/18/27 3.80%
  6. T 3 7/8 08/15/33 3.12%
  7. WFC Float 01/15/27 2.59%
  8. SYF 5.4 08/22/25 2.40%
  9. VST 4 7/8 05/13/24 2.31%
  10. T 3 5/8 05/15/53 2.07%

Asset Allocation

Weighting Return Low Return High DCAIX % Rank
Bonds
92.67% -150.81% 203.29% 37.48%
Cash
6.33% -94.66% 258.91% 34.14%
Convertible Bonds
2.68% 0.00% 33.50% 33.18%
Other
0.90% -72.32% 100.00% 61.31%
Stocks
0.00% -1.60% 99.88% 72.53%
Preferred Stocks
0.00% 0.00% 30.46% 75.11%

Stock Sector Breakdown

Weighting Return Low Return High DCAIX % Rank
Communication Services
100.00% 0.00% 100.00% 0.84%
Utilities
0.00% 0.00% 100.00% 74.44%
Technology
0.00% 0.00% 28.30% 68.82%
Real Estate
0.00% 0.00% 100.00% 72.75%
Industrials
0.00% 0.00% 100.00% 77.81%
Healthcare
0.00% 0.00% 18.60% 69.94%
Financial Services
0.00% 0.00% 100.00% 78.09%
Energy
0.00% 0.00% 100.00% 87.64%
Consumer Defense
0.00% 0.00% 99.97% 70.51%
Consumer Cyclical
0.00% 0.00% 89.95% 75.56%
Basic Materials
0.00% 0.00% 100.00% 72.75%

Stock Geographic Breakdown

Weighting Return Low Return High DCAIX % Rank
US
0.00% -1.47% 99.88% 69.50%
Non US
0.00% -0.13% 17.73% 64.80%

Bond Sector Breakdown

Weighting Return Low Return High DCAIX % Rank
Corporate
38.42% 0.00% 96.66% 47.26%
Government
17.85% 0.00% 99.43% 34.12%
Cash & Equivalents
6.33% 0.00% 88.14% 29.98%
Derivative
0.90% -72.32% 37.37% 15.83%
Securitized
0.00% 0.00% 99.65% 96.56%
Municipal
0.00% 0.00% 54.26% 73.08%

Bond Geographic Breakdown

Weighting Return Low Return High DCAIX % Rank
US
92.67% -151.11% 203.29% 25.95%
Non US
0.00% 0.00% 67.77% 85.43%

DCAIX - Expenses

Operational Fees

DCAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.88% 0.01% 20.67% 20.27%
Management Fee 0.66% 0.00% 2.29% 64.91%
12b-1 Fee 1.00% 0.00% 1.00% 91.57%
Administrative Fee N/A 0.00% 0.70% 22.73%

Sales Fees

DCAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

DCAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

DCAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 343.00% 0.00% 632.00% 97.25%

DCAIX - Distributions

Dividend Yield Analysis

DCAIX Category Low Category High DCAIX % Rank
Dividend Yield 3.92% 0.00% 18.15% 69.92%

Dividend Distribution Analysis

DCAIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Quarterly

Net Income Ratio Analysis

DCAIX Category Low Category High DCAIX % Rank
Net Income Ratio -0.37% -1.55% 11.51% 99.23%

Capital Gain Distribution Analysis

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

Distributions History

View More +

DCAIX - Fund Manager Analysis

Managers

Joshua Lofgren


Start Date

Tenure

Tenure Rank

Jul 02, 2018

3.92

3.9%

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.

Andrew Kronschnabel


Start Date

Tenure

Tenure Rank

Jul 02, 2018

3.92

3.9%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19