Name
As of 11/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
10.4%
1 yr return
30.5%
3 Yr Avg Return
-9.7%
5 Yr Avg Return
-0.2%
Net Assets
$58.4 M
Holdings in Top 10
54.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.08%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 59.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
$2,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DCREX - Profile
Distributions
- YTD Total Return 10.4%
- 3 Yr Annualized Total Return -9.7%
- 5 Yr Annualized Total Return -0.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -1.07%
- Dividend Yield 1.6%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameDunham Real Estate Stock Fund
-
Fund Family NameDunham Funds
-
Inception DateDec 13, 2004
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBurland East
Fund Description
The Funds Sub-Adviser seeks to achieve the Funds investment objectives by investing primarily in income-producing equity securities (including real estate investment trusts (REITs)) of real estate companies. The Fund normally invests at least 80% of its assets (defined as net assets plus borrowing for investment purposes) in equity securities of companies principally engaged in the real estate industry that are economically tied to different countries throughout the world, including the United States. The Fund defines a company as principally engaged in the real estate industry if at least 50% of the companys revenues or 50% of the market value of the companys assets are related to the ownership, operation, construction, development, financing, leasing, management or sale of real estate. The Fund may also invest in real estate companies or issuers that are economically tied to emerging markets. The Fund is non-diversified, which means that it can invest a greater percentage of its assets in any one issuer than a diversified fund. The Funds Sub-Adviser may engage in active and frequent trading of the Funds portfolio securities to achieve the Funds investment objectives.
The Sub-Adviser believes that equity securities of real estate companies with monopolistic characteristics generally perform better over time and can command higher occupancy rates and better rents, which in turn can create more valuable portfolios for shareholders through enhanced dividends and higher real estate values. In general, the Sub-Adviser buys securities of issuers with real estate that is more difficult to supply, demand is less cyclical, and tenants are reluctant to leave. The Sub-Adviser sells securities when a company no longer meets its selection criteria or the valuation no longer meets the risk return parameters of the portfolio.
The Sub-Adviser seeks to outperform other real estate funds using in-house knowledge, research and its understanding of the real estate market. The Sub-Adviser seeks to find favorable real estate investments in the public markets through disciplined analysis by combining bottom-up fundamental research of companies with a research driven top-down asset allocation. Through such analysis, the Sub-Adviser seeks to deliver total return by identifying individual company value and by repositioning the Funds portfolio to be invested in companies with the best property types and geographic regions based on current real estate market conditions. Additionally, the Sub-Adviser focuses the Funds securities portfolio on investments that generally provide income and also have the potential for long-term capital appreciation.
The Fund may also engage in securities lending.
DCREX - Performance
Return Ranking - Trailing
Period | DCREX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 10.4% | -6.6% | 21.5% | 47.97% |
1 Yr | 30.5% | -9.2% | 42.4% | 38.62% |
3 Yr | -9.7%* | -12.7% | 5.3% | 97.95% |
5 Yr | -0.2%* | -11.9% | 15.3% | 94.78% |
10 Yr | 2.6%* | -2.1% | 14.3% | 95.06% |
* Annualized
Return Ranking - Calendar
Period | DCREX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.5% | -16.2% | 24.6% | 16.33% |
2022 | -40.1% | -51.3% | 2.5% | 89.34% |
2021 | 1.6% | -7.7% | 52.3% | 96.71% |
2020 | 10.3% | -42.2% | 35.0% | 5.22% |
2019 | 17.4% | 0.0% | 43.1% | 56.50% |
Total Return Ranking - Trailing
Period | DCREX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 10.4% | -6.6% | 21.5% | 47.97% |
1 Yr | 30.5% | -9.2% | 42.4% | 38.62% |
3 Yr | -9.7%* | -12.7% | 5.3% | 97.95% |
5 Yr | -0.2%* | -11.9% | 15.3% | 94.78% |
10 Yr | 2.6%* | -2.1% | 14.3% | 95.06% |
* Annualized
Total Return Ranking - Calendar
Period | DCREX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.4% | -13.7% | 25.0% | 35.92% |
2022 | -40.1% | -40.7% | 7.8% | 99.59% |
2021 | 8.9% | 7.8% | 54.6% | 98.77% |
2020 | 19.6% | -36.6% | 44.3% | 4.78% |
2019 | 26.1% | 4.1% | 46.4% | 59.19% |
NAV & Total Return History
DCREX - Holdings
Concentration Analysis
DCREX | Category Low | Category High | DCREX % Rank | |
---|---|---|---|---|
Net Assets | 58.4 M | 1.39 M | 61.4 B | 87.87% |
Number of Holdings | 41 | 22 | 519 | 43.90% |
Net Assets in Top 10 | 27.5 M | 1.29 M | 32.8 B | 88.21% |
Weighting of Top 10 | 54.19% | 13.2% | 90.0% | 60.57% |
Top 10 Holdings
- FTAI INFRASTRUCT 8.84%
- AMERICAN TOWER C 7.83%
- EQUINIX INC 6.44%
- INNOVATIVE INDUS 6.28%
- PROLOGIS INC 5.64%
- SIMON PROPERTY 5.60%
- DIGITAL REALTY 4.51%
- NEW FORTRESS ENE 3.24%
- REXFORD INDUSTRI 3.06%
- CBRE GROUP INC-A 2.76%
Asset Allocation
Weighting | Return Low | Return High | DCREX % Rank | |
---|---|---|---|---|
Stocks | 99.67% | 0.00% | 105.52% | 12.60% |
Cash | 0.46% | -42.50% | 24.34% | 80.89% |
Preferred Stocks | 0.00% | 0.00% | 31.13% | 65.85% |
Other | 0.00% | -89.90% | 104.09% | 63.01% |
Convertible Bonds | 0.00% | 0.00% | 10.95% | 61.22% |
Bonds | 0.00% | 0.00% | 155.83% | 63.01% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DCREX % Rank | |
---|---|---|---|---|
Real Estate | 76.48% | 34.46% | 100.00% | 93.16% |
Consumer Cyclical | 10.75% | 0.00% | 45.29% | 5.56% |
Technology | 8.81% | 0.00% | 12.02% | 2.99% |
Industrials | 3.96% | 0.00% | 7.39% | 2.99% |
Utilities | 0.00% | 0.00% | 3.55% | 57.69% |
Healthcare | 0.00% | 0.00% | 0.53% | 58.97% |
Financial Services | 0.00% | 0.00% | 37.05% | 63.68% |
Energy | 0.00% | 0.00% | 33.11% | 59.40% |
Communication Services | 0.00% | 0.00% | 11.61% | 61.54% |
Consumer Defense | 0.00% | 0.00% | 0.93% | 57.69% |
Basic Materials | 0.00% | 0.00% | 13.69% | 59.83% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DCREX % Rank | |
---|---|---|---|---|
US | 99.67% | 0.00% | 105.52% | 8.94% |
Non US | 0.00% | 0.00% | 37.90% | 63.01% |
DCREX - Expenses
Operational Fees
DCREX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.08% | 0.07% | 8.91% | 18.52% |
Management Fee | 0.77% | 0.00% | 1.50% | 60.16% |
12b-1 Fee | 1.00% | 0.00% | 1.00% | 89.34% |
Administrative Fee | N/A | 0.01% | 0.45% | 37.84% |
Sales Fees
DCREX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
DCREX 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.
DCREX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 59.00% | 0.11% | 380.00% | 63.88% |
DCREX - Distributions
Dividend Yield Analysis
DCREX | Category Low | Category High | DCREX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.56% | 0.00% | 13.03% | 78.46% |
Dividend Distribution Analysis
DCREX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Monthly | Quarterly |
Net Income Ratio Analysis
DCREX | Category Low | Category High | DCREX % Rank | |
---|---|---|---|---|
Net Income Ratio | -1.07% | -1.14% | 6.05% | 99.59% |
Capital Gain Distribution Analysis
DCREX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 27, 2023 | $0.208 | OrdinaryDividend |
Dec 29, 2021 | $0.947 | CapitalGainShortTerm |
Dec 29, 2021 | $0.346 | CapitalGainLongTerm |
Dec 30, 2020 | $1.480 | CapitalGainLongTerm |
Dec 27, 2019 | $0.189 | OrdinaryDividend |
Dec 27, 2019 | $0.289 | CapitalGainShortTerm |
Dec 27, 2019 | $0.709 | CapitalGainLongTerm |
Dec 27, 2018 | $0.148 | OrdinaryDividend |
Dec 27, 2017 | $0.121 | CapitalGainLongTerm |
Dec 28, 2016 | $0.697 | CapitalGainShortTerm |
Dec 28, 2016 | $2.118 | CapitalGainLongTerm |
Dec 28, 2016 | $0.206 | OrdinaryDividend |
Dec 29, 2015 | $0.682 | CapitalGainShortTerm |
Dec 29, 2015 | $1.082 | CapitalGainLongTerm |
Dec 29, 2015 | $0.023 | OrdinaryDividend |
Dec 29, 2014 | $0.548 | CapitalGainShortTerm |
Dec 29, 2014 | $0.382 | CapitalGainLongTerm |
Dec 27, 2013 | $0.393 | CapitalGainLongTerm |
Dec 27, 2013 | $0.053 | OrdinaryDividend |
Dec 27, 2012 | $0.534 | CapitalGainLongTerm |
Dec 27, 2012 | $0.076 | OrdinaryDividend |
Dec 28, 2010 | $0.043 | OrdinaryDividend |
Dec 29, 2008 | $0.043 | OrdinaryDividend |
DCREX - Fund Manager Analysis
Managers
Burland East
Start Date
Tenure
Tenure Rank
Jan 01, 2020
2.41
2.4%
Mr. East has served as the Chief Executive Officer and a portfolio manager of American Assets Capital Advisers since October 2010. From October 2001 to July 2010, he was a Managing Principal of Silver Portal Capital, LLC, a FINRA regulated investment bank specializing in institutional real estate. From August 1992 to February 2001, he served as a Managing Director, Senior Equity Analyst and Group Co-Head at Wachovia Securities (and its predecessor companies, First Union Securities, EVEREN Securities, Inc., Research Division and Kemper Securities Inc.), with primary responsibility for equity research coverage of all forms of publicly traded real estate companies and related investment banking. Mr. East serves on the Board of Advisors of Comunidad Realty Partners. Mr. East served as Independent Director at Excel Trust, Inc. (NYSE: EXL) from April 2010 to 2015. Mr. East is a former NAREIT member and was a Board Associate in 1998/1999. Mr. East served on the Leadership Council of the Lusk Center for Real Estate at the University of Southern California from 2003 to 2014. In 1996, 1997 and 1998, he was recognized among outstanding sell-side analysts by Dow Jones Publishing/Realty Stock Review. He holds a Chartered Financial Analyst designation. Mr. East received a Bachelor’s of Arts in Business and Master’s Degree in Business Administration from Loyola College in Maryland.
Creede Murphy
Start Date
Tenure
Tenure Rank
Jan 01, 2020
2.41
2.4%
Creede Murphy Co-Portfolio Manager Since January 2011, Mr. Murphy has served in various roles, with increasing responsibility and authority, as an analyst supporting the sub-adviser’s investment management, research and portfolio management functions, and currently serves as the firm’s Chief Operating Officer. In 2021, in addition to his role as COO, Mr. Murphy joined Mr. East as a portfolio manager to client accounts of the sub-adviser. Mr. Murphy has over 10 years of experience in investment management, providing investment research, financial modeling, security valuation, and general portfolio management services. He is also a licensed architect with 10 years of prior experience in architecture and real estate development, providing unique insights into real estate deals and investment opportunities. Mr. Murphy holds a Master’s Degree in Business Administration from the University of California San Diego, where he studied Modern Portfolio Theory under Nobel Laureate Harry Markowitz, and holds a Master’s Degree in Architecture and a Bachelor of Arts in Architecture. He is also a Licensed Architect.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.01 | 28.42 | 8.3 | 2.68 |