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Trending ETFs

Dunham Floating Rate Bond Fund

mutual fund
DAFRX
Payout Change
Pending
Price as of:
$8.66 +0.0 +0.0%
primary theme
Bank Loan
DAFRX (Mutual Fund)

Dunham Floating Rate Bond Fund

Payout Change
Pending
Price as of:
$8.66 +0.0 +0.0%
primary theme
Bank Loan
DAFRX (Mutual Fund)

Dunham Floating Rate Bond Fund

Payout Change
Pending
Price as of:
$8.66 +0.0 +0.0%
primary theme
Bank Loan

Name

As of 10/07/2024

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

$8.66

$117 M

7.83%

$0.68

1.42%

Vitals

YTD Return

6.2%

1 yr return

10.0%

3 Yr Avg Return

5.4%

5 Yr Avg Return

4.2%

Net Assets

$117 M

Holdings in Top 10

16.2%

52 WEEK LOW AND HIGH

$8.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.42%

SALES FEES

Front Load 4.50%

Deferred Load N/A

TRADING FEES

Turnover 135.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000

IRA

$2,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/07/2024

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

$8.66

$117 M

7.83%

$0.68

1.42%

DAFRX - Profile

Distributions

  • YTD Total Return 6.2%
  • 3 Yr Annualized Total Return 5.4%
  • 5 Yr Annualized Total Return 4.2%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.73%
DIVIDENDS
  • Dividend Yield 7.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Dunham Floating Rate Bond Fund
  • Fund Family Name
    Dunham Funds
  • Inception Date
    Nov 01, 2013
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Laila Marie Kollmorgen

Fund Description

The Fund’s Sub-Adviser seeks to achieve the Fund’s investment objectives by investing, under normal market conditions, at least 80% of the Fund’s assets (defined as net assets plus borrowings for investment purposes) in bonds. The Fund defines “bonds” as floating rate loans and other floating rate debt securities, including collateralized loan obligations (“CLO”s).

Floating rate loans generally represent amounts borrowed by corporations and other entities from banks and other institutional lenders. The Fund generally invests in loans that are rated below investment-grade (BB and lower, or an equivalent rating) or are not rated by a nationally recognized statistical rating organization (NRSRO), also known as “leveraged”, “high-yield” or “junk” loans. The loans in which the Fund will primarily invest are senior secured obligations of their borrowers and are typically secured by some or all of borrowers’ assets. Floating rate loans have interest rates that reset periodically (typically quarterly or monthly) and typically have tenors of eight years or less. The interest rates on floating rate loans may be based on a percentage above a U.S. bank’s prime or base rate, the overnight federal funds rate, or another rate.

A CLO is a portfolio of leveraged loans and/or high-yield bonds that are securitized and managed as a fund. The assets are typically senior secured loans, which benefit from priority of payment over other claimants in the event of an insolvency. Each CLO is structured as a series of tranches that are interest-paying bonds. The Fund generally invests in CLOs that are rated below investment-grade (BB and lower, or an equivalent rating). CLOs have interest rates that reset periodically (typically quarterly or monthly). The interest rates on floating rate loans may be based on a percentage above IBOR (the Interbank Offered Rate).

Additionally, the Fund will invest up to 20% of total assets in fixed-rate corporate bonds of any maturity generally rated below investment-grade (BB and lower, or an equivalent rating) or are not rated by a nationally recognized statistical rating organization (NRSRO), also known as “high-yield” or “junk” loans. These securities may be issued in reliance on Rule 144A under the Securities Act of 1933, and subject to restriction on resale.

The Fund’s Sub-Adviser selects investments and seeks to reduce risk through portfolio diversification, credit analysis and attention to current developments in economic conditions. In general, the Sub-Adviser typically buys securities that provide high current income that it believes possess attractive risk/reward characteristics. The Sub-Adviser measures a security’s risk/reward ratio by its yield and expected probability of default when compared to a peer group of securities with similar credit risk. The Sub-Adviser typically will sell securities when, in the Sub-Adviser’s view, they no longer meet the buy criteria and when an issuer’s credit fundamentals deteriorate.

The Fund may also engage in securities lending.

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DAFRX - Performance

Return Ranking - Trailing

Period DAFRX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.2% -3.2% 9.6% 68.66%
1 Yr 10.0% -3.6% 14.6% 29.10%
3 Yr 5.4%* -6.7% 8.1% 37.50%
5 Yr 4.2%* -6.5% 38.0% 62.30%
10 Yr 3.4%* -2.1% 19.6% 61.96%

* Annualized

Return Ranking - Calendar

Period DAFRX Return Category Return Low Category Return High Rank in Category (%)
2023 3.3% -12.0% 11.1% 39.18%
2022 -7.9% -22.9% 5.1% 58.24%
2021 0.3% -12.2% 11.1% 85.49%
2020 -3.4% -14.1% 289.8% 72.65%
2019 2.6% -8.1% 7.5% 52.94%

Total Return Ranking - Trailing

Period DAFRX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.2% -3.2% 9.6% 68.66%
1 Yr 10.0% -3.6% 14.6% 29.10%
3 Yr 5.4%* -6.7% 8.1% 37.50%
5 Yr 4.2%* -6.5% 38.0% 62.30%
10 Yr 3.4%* -2.1% 19.6% 61.96%

* Annualized

Total Return Ranking - Calendar

Period DAFRX Return Category Return Low Category Return High Rank in Category (%)
2023 13.1% -12.0% 22.1% 32.46%
2022 -2.5% -22.9% 5.1% 57.09%
2021 3.5% -10.2% 11.1% 83.14%
2020 0.3% -14.1% 306.9% 77.55%
2019 7.8% -3.6% 10.5% 44.54%

NAV & Total Return History


DAFRX - Holdings

Concentration Analysis

DAFRX Category Low Category High DAFRX % Rank
Net Assets 117 M 29.9 M 13.5 B 91.98%
Number of Holdings 218 2 1977 81.92%
Net Assets in Top 10 20.4 M -191 M 2.37 B 88.08%
Weighting of Top 10 16.16% 5.2% 100.7% 39.00%

Top 10 Holdings

  1. FID-MM GOVT-I 3.95%
  2. ROCKT 2020-1A D1R 3.18%
  3. BSP 2017-12A D 1.58%
  4. WINDR 2019-3A E2R 1.25%
  5. ATRM 9A ER 1.22%
  6. APID 2015-20A DR 1.19%
  7. USLBMH TL B 1L USD 0.97%
  8. EGLPT TL 1L USD 0.96%
  9. MEDMID TL B 1L USD 0.93%
  10. KEADGR TL B 1L USD 0.93%

Asset Allocation

Weighting Return Low Return High DAFRX % Rank
Bonds
99.83% 0.00% 161.82% 10.38%
Cash
3.95% -61.90% 16.36% 41.54%
Other
3.18% -52.39% 34.87% 12.31%
Stocks
0.01% 0.00% 100.74% 89.62%
Preferred Stocks
0.00% -3.99% 7.30% 78.85%
Convertible Bonds
0.00% 0.00% 5.51% 79.84%

Stock Sector Breakdown

Weighting Return Low Return High DAFRX % Rank
Utilities
0.00% 0.00% 100.00% 81.29%
Technology
0.00% 0.00% 100.00% 80.70%
Real Estate
0.00% 0.00% 48.61% 79.53%
Industrials
0.00% 0.00% 100.00% 88.89%
Healthcare
0.00% 0.00% 100.00% 79.53%
Financial Services
0.00% 0.00% 89.61% 78.95%
Energy
0.00% 0.00% 100.00% 10.53%
Communication Services
0.00% 0.00% 100.00% 91.81%
Consumer Defense
0.00% 0.00% 100.00% 83.63%
Consumer Cyclical
0.00% 0.00% 97.66% 8.19%
Basic Materials
0.00% 0.00% 1.36% 78.95%

Stock Geographic Breakdown

Weighting Return Low Return High DAFRX % Rank
US
0.01% -0.01% 100.74% 87.69%
Non US
0.00% 0.00% 0.68% 76.54%

Bond Sector Breakdown

Weighting Return Low Return High DAFRX % Rank
Corporate
85.55% 0.00% 99.80% 74.42%
Securitized
9.57% 0.00% 91.68% 6.98%
Cash & Equivalents
3.95% 0.00% 25.03% 39.23%
Derivative
0.00% -10.96% 0.85% 81.92%
Municipal
0.00% 0.00% 0.47% 72.48%
Government
0.00% 0.00% 3.18% 75.97%

Bond Geographic Breakdown

Weighting Return Low Return High DAFRX % Rank
US
99.83% 0.00% 123.41% 10.00%
Non US
0.00% 0.00% 63.23% 85.00%

DAFRX - Expenses

Operational Fees

DAFRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.42% 0.03% 5.51% 35.96%
Management Fee 0.81% 0.00% 1.89% 85.77%
12b-1 Fee 0.25% 0.00% 1.00% 48.15%
Administrative Fee N/A 0.02% 0.27% 31.43%

Sales Fees

DAFRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.50% 1.00% 5.75% 16.67%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

DAFRX 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.

DAFRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 135.00% 4.00% 180.00% 97.14%

DAFRX - Distributions

Dividend Yield Analysis

DAFRX Category Low Category High DAFRX % Rank
Dividend Yield 7.83% 0.00% 11.13% 15.30%

Dividend Distribution Analysis

DAFRX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

DAFRX Category Low Category High DAFRX % Rank
Net Income Ratio 2.73% 1.77% 9.82% 88.28%

Capital Gain Distribution Analysis

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

Distributions History

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DAFRX - Fund Manager Analysis

Managers

Laila Marie Kollmorgen


Start Date

Tenure

Tenure Rank

Oct 01, 2021

0.66

0.7%

Ms. Kollmorgen is Managing Director and CLO Portfolio Manager at PineBridge. She has worked at PineBridge since 2015. Ms. Kollmorgen has an MBA from The Wharton School of the University of Pennsylvania and a BA from Wellesley College and is a CFA Charterholder.

Steven Oh


Start Date

Tenure

Tenure Rank

Oct 01, 2021

0.66

0.7%

Steven Oh joined PineBridge Investments in 2000 as porfolio manager. Steven is responsible for coordinating and overseeing the firm’s global credit and fixed-income strategies and co-manages the Leveraged Finance Group and portfolios. He received a BS in Finance and Management from the Wharton School of Business at the University of Pennsylvania and an MBA in Finance from the Kellogg School of Northwestern University. He is a CFA charterholder.

Jeremy Burton


Start Date

Tenure

Tenure Rank

Oct 01, 2021

0.66

0.7%

Mr. Burton is a portfolio manager for PineBridge’s high yield bond and leveraged loan strategies. He has served as a portfolio manager since 2014. Previously, he was a credit research analyst covering a number of industries in the Communications and Consumer Cyclical sectors from 2004 to 2007 and from 2009 to 2017. Prior to that, he was an investment banking analyst with CIBC World Markets and an investment analyst with Linden Advisors. Mr. Burton received a BA with a concentration in History from Harvard College in 2000 and an MBA with a concentration in Finance from the Wharton School of Business at the University of Pennsylvania in 2004. He is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 21.18 6.06 3.25