DAAIX Fees and Costs — Dunham Long/Short Credit Fund, Class A
Data updated: 2026-09-28
The net expense ratio is 1.16%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.16% other expenses. This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 0.75%. Portfolio turnover was 234%.
DAAIX Fees and Expenses
Annual operating expenses and sales charges of DAAIX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.16% |
| Gross expense ratio | 1.16% |
| Fee waiver | — |
| Net expense ratio | 1.16% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.75% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
DAAIX Costs Over Time
On $10,000 invested in DAAIX, assuming 5% a year before costs, total costs come to $1,416 over 5 years, cutting the return by 2.44% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Sales charges | $648 | $575 | $575 |
| Fund expenses (net expense ratio 1.16%) | $115 | $358 | $619 |
| Lost growth on money paid in costs | $29 | $108 | $221 |
| Total costs | $792 | $1,041 | $1,416 |
| Value after costs | $9,708 | $10,535 | $11,347 |
| Impact on return, per year | 7.92% | 3.25% | 2.44% |
DAAIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $990.6M
- Portfolio turnover (prospectus): 234%
- Securities on loan, average value: $9.3M
- Net income from securities lending: $16K (0.006% of average net assets)
DAAIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Bank of Montreal | $204.7M | 24.60% |
| CITADEL SECURITIES | $177.4M | 21.32% |
| Bank of America Merrill Lynch | $155.8M | 18.72% |
| HSBC Securities | $83.9M | 10.09% |
| Barclays | $44.5M | 5.36% |
| STONEX FINANCIAL | $39.9M | 4.79% |
| JPMorgan Chase | $39.5M | 4.75% |
| RELIGARE CAPITAL MARKETS | $39.4M | 4.74% |
| Goldman Sachs | $24.6M | 2.96% |
| ROYAL BANK OF CANADA CAPITAL MARKETS | $22.1M | 2.66% |
Dunham Long/Short Credit Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DNAIX | Class N | 0.91% | none |
| DAAIX | Class A | 1.16% | 5.75% |
| DCAIX | Class C | 1.91% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.