The Dunham Funds Performance

Dunham & Associates Investment Counsel, Inc. offers a proprietary family of sub-advised public mutual funds that operate on performance-based advisory fees, also commonly known as Fulcrum Fees, and feature objectives ranging from capital preservation to aggressive growth. The Dunham Funds are available individually or as part of a turnkey asset management program.

For a full listing of ticker & cusips by shareclass, please click here.



Fund Prices & YTD Returns
NAV as of 10/18/2019
Average Annual Total Returns
as of 9/30/2019
Floating Rate Bond Fund N (DNFRX)
NAV NAV Change NAV YTD 1 Year 3 Years 5 Years 10 Years Since Inception
9.4 0.11 % 5.63 % At NAV 1.83 % 3.11 % 2.92 % N/A 2.63 %
Inception Date: 11/1/2013 Expense Ratio**: 0.98 %
Long/Short Credit Fund N (DNAIX)
NAV NAV Change NAV YTD 1 Year 3 Years 5 Years 10 Years Since Inception
9.35 0.00 % 5.90 % At NAV 4.49 % 7.04 % 3.97 % 6.79 % 5.56 %
Inception Date: 12/10/2004 Expense Ratio**: 1.66 %
Corporate/Government Bond Fund N (DNCGX)
NAV NAV Change NAV YTD 1 Year 3 Years 5 Years 10 Years Since Inception
13.99 0.07 % 9.23 % At NAV 8.52 % 2.43 % 2.65 % 3.66 % 3.95 %
Inception Date: 12/10/2004 Expense Ratio**: 1.20 %
Monthly Distribution Fund N (DNMDX)
NAV NAV Change NAV YTD 1 Year 3 Years 5 Years 10 Years Since Inception
33.91 -0.06 % 2.86 % At NAV 0.12 % 2.63 % 1.48 % 3.73 % 3.22 %
Inception Date: 9/29/2008 Expense Ratio**: 2.17 %
Dynamic Macro Fund N (DNAVX)
NAV NAV Change NAV YTD 1 Year 3 Years 5 Years 10 Years Since Inception
10 -0.10 % 10.13 % At NAV 1.01 % 2.09 % 1.46 % N/A 1.39 %
Inception Date: 4/29/2010 Expense Ratio**: 1.97 %
High-Yield Bond Fund N (DNHYX)
NAV NAV Change NAV YTD 1 Year 3 Years 5 Years 10 Years Since Inception
9.01 0.00 % 12.42 % At NAV 5.82 % 4.99 % 3.89 % 6.14 % 5.14 %
Inception Date: 7/1/2005 Expense Ratio**: 1.13 %
International Opportunity Bond Fund N (DNIOX)
NAV NAV Change NAV YTD 1 Year 3 Years 5 Years 10 Years Since Inception
9.38 0.11 % 4.11 % At NAV 3.43 % -0.98 % -0.46 % N/A -0.74 %
Inception Date: 11/1/2013 Expense Ratio**: 1.35 %
Large Cap Value Fund N (DNLVX)
NAV NAV Change NAV YTD 1 Year 3 Years 5 Years 10 Years Since Inception
14.72 0.14 % 16.83 % At NAV 3.95 % 9.28 % 6.51 % 10.02 % 6.41 %
Inception Date: 12/10/2004 Expense Ratio**: 1.30 %
Focused Large Cap Growth Fund N (DNFGX)
NAV NAV Change NAV YTD 1 Year 3 Years 5 Years 10 Years Since Inception
23.7 -1.50 % 21.48 % At NAV 0.65 % 16.70 % 12.49 % N/A 13.34 %
Inception Date: 12/9/2011 Expense Ratio**: 1.30 %
International Stock Fund N (DNINX)
NAV NAV Change NAV YTD 1 Year 3 Years 5 Years 10 Years Since Inception
15.21 -0.20 % 10.94 % At NAV -4.83 % 5.41 % 2.46 % 5.15 % 4.68 %
Inception Date: 12/10/2004 Expense Ratio**: 1.67 %
Real Estate Stock Fund N (DNREX)
NAV NAV Change NAV YTD 1 Year 3 Years 5 Years 10 Years Since Inception
18.64 0.87 % 28.55 % At NAV 18.23 % 5.90 % 9.14 % 11.97 % 7.21 %
Inception Date: 12/10/2004 Expense Ratio**: 1.10 %
Small Cap Value Fund N (DNSVX)
NAV NAV Change NAV YTD 1 Year 3 Years 5 Years 10 Years Since Inception
14.55 -0.07 % 16.59 % At NAV -1.85 % 8.76 % 7.86 % 10.30 % 5.97 %
Inception Date: 12/10/2004 Expense Ratio**: 1.54 %
Small Cap Growth Fund N (DNDGX)
NAV NAV Change NAV YTD 1 Year 3 Years 5 Years 10 Years Since Inception
15.88 -1.49 % 16.94 % At NAV -11.05 % 13.33 % 10.69 % 12.21 % 8.81 %
Inception Date: 12/10/2004 Expense Ratio**: 1.95 %
Emerging Markets Stock Fund N (DNEMX)
NAV NAV Change NAV YTD 1 Year 3 Years 5 Years 10 Years Since Inception
14.03 -0.78 % 11.97 % At NAV -1.03 % 4.11 % 0.33 % 1.13 % 4.69 %
Inception Date: 12/10/2004 Expense Ratio**: 1.52 %

**Per latest prospectus, available here.

To obtain performance data current to the most recent month-end, please click on a fund and go to the “Price/Performance” tab.

Investors should consider the investment objectives, risk factors, charges, and expenses of the Dunham Funds carefully before investing. This and other important information is contained in the Fund's summary prospectus and/or prospectus, which may be obtained by contacting your financial advisor, or by calling toll free (800) 442-4358. Please read prospectus materials carefully before investing or sending money. Investing involves risk, including possible loss of principal.

Prices and returns quoted represent past results and are no guarantee of future results. Current performance may be higher or lower than the performance shown. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost.


Average annual total return is the annual compound return for the indicated period. It reflects the change in share price and the reinvestment of all dividends and capital gains. Returns for periods of less than one year are cumulative total returns.

Investing in the securities of small- and mid-sized companies involves risks such as relatively low trading volumes, more price volatility, and less liquidity than securities from larger, more established companies. International investing involves special risks such as currency fluctuation, differences in accounting standards and less public disclosure, as well as economic and political risks. Some of the funds invest in securities guaranteed by the U.S. government as to the timely payment of principal and interest; however, shares of the funds are not insured nor guaranteed. Income from the funds may be subject to state and local taxes and the alternative minimum tax, if applicable. High yielding fixed-income securities generally are subject to greater market fluctuations and risk of loss of income and principal than are investments in lower yielding fixed-income securities. Investing in REITs involves certain risks such as refinancing, changes in the value of properties REITs own, dependency on management skills, economic impact on the industry and risks similar to those linked to small company investing.

The Funds’ investment adviser, Dunham & Associates Investment Counsel, Inc. (the Adviser) under the supervision of the Board of Trustees, is responsible for constructing and monitoring the investment objective and principle investment strategies of each fund. The Adviser believes that it is possible to enhance shareholder value by using one or more sub-advisory firms to manage various portions of the assets of the fund, rather than simply employing a single firm to manage the assets of all Funds. This approach is designed to help reduce the management risk inherent in individual security selection and to achieve lower volatility by combining the skills of Sub-Advisers with complimentary investment approaches.

In addition to serving as Adviser to the Funds, Dunham & Associates Investment Counsel, Inc. serves as distributor of the shares of the Funds. Shares of the Funds are offered on a continuous basis.

The N share class is only offered by registered investment advisers as part of an advisory program which includes advisory fees in addition to those presented in the prospectus. Funds distributed by Dunham & Associates Investment Counsel, Inc., member FINRA/SIPC. With respect to the risk scale assigned to the above list of securities, the standard deviation of historical asset class index returns used to measure risk (or volatility) indicates the variability of returns from the average return for that asset class. Performance tends to be more stable for products with a lower standard deviation. Historical standard deviation (risk) is not an indication of future expected risk.

Dunham Funds direct shareholders (including accounts transfered from the Kelmoore Strategy Funds), please click here: http://www.dunham.com/direct.