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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000020976Member_lbl" xml:lang="en-US">Dunham Corporate/Government Bond Fund</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059523Member" xlink:to="df_C000059523Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059523Member_lbl" xml:lang="en-US">Dunham Corporate/Government Bond Fund Class A</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestRateRiskMember_lbl" xml:lang="en-US">Interest Rate Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_CallOrRedemptionRiskMember" xlink:label="df_CallOrRedemptionRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_CallOrRedemptionRiskMember" xlink:to="df_CallOrRedemptionRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_CallOrRedemptionRiskMember_lbl" xml:lang="en-US">Call or Redemption Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_ChangingFixedIncomeMarketConditionsRiskMember" xlink:label="df_ChangingFixedIncomeMarketConditionsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_ChangingFixedIncomeMarketConditionsRiskMember" xlink:to="df_ChangingFixedIncomeMarketConditionsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_ChangingFixedIncomeMarketConditionsRiskMember_lbl" xml:lang="en-US">Changing Fixed Income Market Conditions Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_LowerRatedSecuritiesRiskMember" xlink:label="df_LowerRatedSecuritiesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_LowerRatedSecuritiesRiskMember" xlink:to="df_LowerRatedSecuritiesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_LowerRatedSecuritiesRiskMember_lbl" xml:lang="en-US">Lower-Rated Securities Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_PrivatePlacementRiskMember" xlink:label="df_PrivatePlacementRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_PrivatePlacementRiskMember" xlink:to="df_PrivatePlacementRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_PrivatePlacementRiskMember_lbl" xml:lang="en-US">Private Placement Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_MortgageBackedAndAssetBackedSecuritiesRiskMember" xlink:label="df_MortgageBackedAndAssetBackedSecuritiesRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_MortgageBackedAndAssetBackedSecuritiesRiskMember_lbl" xml:lang="en-US">Mortgage-Backed and Asset-Backed Securities Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_USGovernmentSecuritiesRiskMember" xlink:label="df_USGovernmentSecuritiesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_USGovernmentSecuritiesRiskMember" xlink:to="df_USGovernmentSecuritiesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_USGovernmentSecuritiesRiskMember_lbl" xml:lang="en-US">U.S. Government Securities Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_LongTermMaturitiesDurationsRiskMember" xlink:label="df_LongTermMaturitiesDurationsRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_LongTermMaturitiesDurationsRiskMember_lbl" xml:lang="en-US">Long-Term Maturities/Durations Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_SeniorBankLoansRiskMember" xlink:label="df_SeniorBankLoansRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_SeniorBankLoansRiskMember" xlink:to="df_SeniorBankLoansRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_SeniorBankLoansRiskMember_lbl" xml:lang="en-US">Senior Bank Loans Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_IBORRiskMember" xlink:label="df_IBORRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_IBORRiskMember" xlink:to="df_IBORRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_IBORRiskMember_lbl" xml:lang="en-US">IBOR Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_EmergingMarketsRiskMember" xlink:label="df_EmergingMarketsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_EmergingMarketsRiskMember" xlink:to="df_EmergingMarketsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_EmergingMarketsRiskMember_lbl" xml:lang="en-US">Emerging Markets Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_ForeignInvestingRiskMember" xlink:label="df_ForeignInvestingRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_ForeignInvestingRiskMember" xlink:to="df_ForeignInvestingRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_ForeignInvestingRiskMember_lbl" xml:lang="en-US">Foreign Investing Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_NaturalDisasterEpidemicRiskMember" xlink:label="df_NaturalDisasterEpidemicRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_NaturalDisasterEpidemicRiskMember" xlink:to="df_NaturalDisasterEpidemicRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_NaturalDisasterEpidemicRiskMember_lbl" xml:lang="en-US">Natural Disaster/Epidemic Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_ManagementRiskMember" xlink:label="df_ManagementRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_ManagementRiskMember" xlink:to="df_ManagementRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_ManagementRiskMember_lbl" xml:lang="en-US">Management Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_DerivativesRiskMember" xlink:label="df_DerivativesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_DerivativesRiskMember" xlink:to="df_DerivativesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_DerivativesRiskMember_lbl" xml:lang="en-US">Derivatives Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_CurrencyRiskMember" xlink:label="df_CurrencyRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_CurrencyRiskMember_lbl" xml:lang="en-US">Currency Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_SecuritiesLendingRiskMember" xlink:label="df_SecuritiesLendingRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_SecuritiesLendingRiskMember" xlink:to="df_SecuritiesLendingRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_SecuritiesLendingRiskMember_lbl" xml:lang="en-US">Securities Lending Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_S000042248Member" xlink:label="df_S000042248Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_S000042248Member" xlink:to="df_S000042248Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000042248Member_lbl" xml:lang="en-US">Dunham Floating Rate Bond Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000131123Member" xlink:label="df_C000131123Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000131123Member" xlink:to="df_C000131123Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000131123Member_lbl" xml:lang="en-US">Dunham Floating Rate Bond Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_CLORiskMember" xlink:label="df_CLORiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_CLORiskMember" xlink:to="df_CLORiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_CLORiskMember_lbl" xml:lang="en-US">CLO Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_FloatingInterestRatesRiskMember" xlink:label="df_FloatingInterestRatesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_FloatingInterestRatesRiskMember" xlink:to="df_FloatingInterestRatesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_FloatingInterestRatesRiskMember_lbl" xml:lang="en-US">Floating Interest Rates Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_LiquidityRiskMember" xlink:label="df_LiquidityRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_LiquidityRiskMember" xlink:to="df_LiquidityRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_LiquidityRiskMember_lbl" xml:lang="en-US">Liquidity Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_S000020978Member" xlink:label="df_S000020978Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_S000020978Member" xlink:to="df_S000020978Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000020978Member_lbl" xml:lang="en-US">Dunham High Yield Bond Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059529Member" xlink:label="df_C000059529Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059529Member" xlink:to="df_C000059529Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059529Member_lbl" xml:lang="en-US">Dunham High Yield Bond Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_S000042247Member" xlink:label="df_S000042247Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_S000042247Member" xlink:to="df_S000042247Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000042247Member_lbl" xml:lang="en-US">Dunham International Opportunity Bond Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000131120Member" xlink:label="df_C000131120Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000131120Member" xlink:to="df_C000131120Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000131120Member_lbl" xml:lang="en-US">Dunham International Opportunity Bond Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_StructuredNoteRiskMember" xlink:label="df_StructuredNoteRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_StructuredNoteRiskMember" xlink:to="df_StructuredNoteRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_StructuredNoteRiskMember_lbl" xml:lang="en-US">Small Capitalization Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_S000020972Member" xlink:label="df_S000020972Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_S000020972Member" xlink:to="df_S000020972Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000020972Member_lbl" xml:lang="en-US">Dunham Large Cap Value Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059511Member" xlink:label="df_C000059511Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059511Member" xlink:to="df_C000059511Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059511Member_lbl" xml:lang="en-US">Dunham Large Cap Value Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_LargeCapStockRiskMember" xlink:label="df_LargeCapStockRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_LargeCapStockRiskMember" xlink:to="df_LargeCapStockRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_LargeCapStockRiskMember_lbl" xml:lang="en-US">Large Cap Stock Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_StockMarketRiskMember" xlink:label="df_StockMarketRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_StockMarketRiskMember" xlink:to="df_StockMarketRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_StockMarketRiskMember_lbl" xml:lang="en-US">Stock Market Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_FinancialServicesSectorRiskMember" xlink:label="df_FinancialServicesSectorRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_FinancialServicesSectorRiskMember" xlink:to="df_FinancialServicesSectorRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_FinancialServicesSectorRiskMember_lbl" xml:lang="en-US">Financial Services Sector Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_S000020974Member" xlink:label="df_S000020974Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_S000020974Member" xlink:to="df_S000020974Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000020974Member_lbl" xml:lang="en-US">Dunham Small Cap Value Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059517Member" xlink:label="df_C000059517Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059517Member" xlink:to="df_C000059517Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059517Member_lbl" xml:lang="en-US">Dunham Small Cap Value Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_SmallCapitalizationRiskMember" xlink:label="df_SmallCapitalizationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_SmallCapitalizationRiskMember" xlink:to="df_SmallCapitalizationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="df_SmallCapitalizationRiskMember_lbl" xml:lang="en-US">Small Capitalization Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_MicroCapitalizationRiskMember" xlink:label="df_MicroCapitalizationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_MicroCapitalizationRiskMember" xlink:to="df_MicroCapitalizationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_MicroCapitalizationRiskMember_lbl" xml:lang="en-US">Micro Capitalization Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_RealEstateInvestmentTrustRiskMember" xlink:label="df_RealEstateInvestmentTrustRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_RealEstateInvestmentTrustRiskMember" xlink:to="df_RealEstateInvestmentTrustRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_RealEstateInvestmentTrustRiskMember_lbl" xml:lang="en-US">Real Estate Investment Trust Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_S000034854Member" xlink:label="df_S000034854Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_S000034854Member" xlink:to="df_S000034854Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000034854Member_lbl" xml:lang="en-US">Dunham Focused Large Cap Growth Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000107185Member" xlink:label="df_C000107185Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000107185Member" xlink:to="df_C000107185Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000107185Member_lbl" xml:lang="en-US">Dunham Focused Large Cap Growth Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_TechnologyIndustryRiskMember" xlink:label="df_TechnologyIndustryRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_TechnologyIndustryRiskMember" xlink:to="df_TechnologyIndustryRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_TechnologyIndustryRiskMember_lbl" xml:lang="en-US">Technology Industry Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_S000020973Member" xlink:label="df_S000020973Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_S000020973Member" xlink:to="df_S000020973Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000020973Member_lbl" xml:lang="en-US">Dunham Small Cap Growth Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059514Member" xlink:label="df_C000059514Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059514Member" xlink:to="df_C000059514Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059514Member_lbl" xml:lang="en-US">Dunham Small Cap Growth Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_InformationTechnologySectorRiskMember" xlink:label="df_InformationTechnologySectorRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_InformationTechnologySectorRiskMember" xlink:to="df_InformationTechnologySectorRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_InformationTechnologySectorRiskMember_lbl" xml:lang="en-US">Information Technology Sector Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_S000020977Member" xlink:label="df_S000020977Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_S000020977Member" xlink:to="df_S000020977Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000020977Member_lbl" xml:lang="en-US">Dunham Emerging Markets Stock Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059526Member" xlink:label="df_C000059526Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059526Member" xlink:to="df_C000059526Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059526Member_lbl" xml:lang="en-US">Dunham Emerging Markets Stock Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_EmergingMarketsRisksMember" xlink:label="df_EmergingMarketsRisksMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_EmergingMarketsRisksMember" xlink:to="df_EmergingMarketsRisksMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_EmergingMarketsRisksMember_lbl" xml:lang="en-US">Emerging Markets Risks [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_RegionalCountryRiskMember" xlink:label="df_RegionalCountryRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_RegionalCountryRiskMember" xlink:to="df_RegionalCountryRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_RegionalCountryRiskMember_lbl" xml:lang="en-US">Regional/Country Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_ChinaRiskMember" xlink:label="df_ChinaRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_ChinaRiskMember" xlink:to="df_ChinaRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_ChinaRiskMember_lbl" xml:lang="en-US">China Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_ChinaRelatedVariableInterestEntityRiskMember" xlink:label="df_ChinaRelatedVariableInterestEntityRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_ChinaRelatedVariableInterestEntityRiskMember" xlink:to="df_ChinaRelatedVariableInterestEntityRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_ChinaRelatedVariableInterestEntityRiskMember_lbl" xml:lang="en-US">China Related Variable Interest Entity Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_S000020979Member" xlink:label="df_S000020979Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_S000020979Member" xlink:to="df_S000020979Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000020979Member_lbl" xml:lang="en-US">Dunham International Stock Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059532Member" xlink:label="df_C000059532Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059532Member" xlink:to="df_C000059532Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059532Member_lbl" xml:lang="en-US">Dunham International Stock Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_JapanRiskMember" xlink:label="df_JapanRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_JapanRiskMember" xlink:to="df_JapanRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_JapanRiskMember_lbl" xml:lang="en-US">Japan Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_S000028743Member" xlink:label="df_S000028743Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_S000028743Member" xlink:to="df_S000028743Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000028743Member_lbl" xml:lang="en-US">Dunham Dynamic Macro Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000087895Member" xlink:label="df_C000087895Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000087895Member" xlink:to="df_C000087895Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000087895Member_lbl" xml:lang="en-US">Dunham Dynamic Macro Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_AssetAllocationRiskMember" xlink:label="df_AssetAllocationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_AssetAllocationRiskMember" xlink:to="df_AssetAllocationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_AssetAllocationRiskMember_lbl" xml:lang="en-US">Asset Allocation Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_CommodityRiskMember" xlink:label="df_CommodityRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_CommodityRiskMember" xlink:to="df_CommodityRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_CommodityRiskMember_lbl" xml:lang="en-US">Commodity Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_LeveragingRiskMember" xlink:label="df_LeveragingRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_LeveragingRiskMember" xlink:to="df_LeveragingRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_LeveragingRiskMember_lbl" xml:lang="en-US">Leveraging Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_ETFRiskMember" xlink:label="df_ETFRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_ETFRiskMember" xlink:to="df_ETFRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_ETFRiskMember_lbl" xml:lang="en-US">ETF Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_ETNRiskMember" xlink:label="df_ETNRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_ETNRiskMember" xlink:to="df_ETNRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_ETNRiskMember_lbl" xml:lang="en-US">ETN Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_MoneyMarketShortTermSecuritiesRiskMember" xlink:label="df_MoneyMarketShortTermSecuritiesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_MoneyMarketShortTermSecuritiesRiskMember" xlink:to="df_MoneyMarketShortTermSecuritiesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_MoneyMarketShortTermSecuritiesRiskMember_lbl" xml:lang="en-US">Money Market/Short-Term Securities Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_PortfolioTurnoverRiskMember" xlink:label="df_PortfolioTurnoverRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_PortfolioTurnoverRiskMember" xlink:to="df_PortfolioTurnoverRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_PortfolioTurnoverRiskMember_lbl" xml:lang="en-US">Portfolio Turnover Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_S000020975Member" xlink:label="df_S000020975Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_S000020975Member" xlink:to="df_S000020975Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000020975Member_lbl" xml:lang="en-US">Dunham Long/Short Credit Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059520Member" xlink:label="df_C000059520Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059520Member" xlink:to="df_C000059520Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059520Member_lbl" xml:lang="en-US">Dunham Long/Short Credit Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_EventRiskMember" xlink:label="df_EventRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_EventRiskMember" xlink:to="df_EventRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_EventRiskMember_lbl" xml:lang="en-US">Event Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_CorporateLoansRiskMember" xlink:label="df_CorporateLoansRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_CorporateLoansRiskMember" xlink:to="df_CorporateLoansRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_CorporateLoansRiskMember_lbl" xml:lang="en-US">Corporate Loans Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_ShortSellingRiskMember" xlink:label="df_ShortSellingRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_ShortSellingRiskMember" xlink:to="df_ShortSellingRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_ShortSellingRiskMember_lbl" xml:lang="en-US">Short Selling Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_S000022888Member" xlink:label="df_S000022888Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_S000022888Member" xlink:to="df_S000022888Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000022888Member_lbl" xml:lang="en-US">Dunham Monthly Distribution Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000066378Member" xlink:label="df_C000066378Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000066378Member" xlink:to="df_C000066378Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000066378Member_lbl" xml:lang="en-US">Dunham Monthly Distribution Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_MergerAndEventDrivenRiskMember" xlink:label="df_MergerAndEventDrivenRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_MergerAndEventDrivenRiskMember" xlink:to="df_MergerAndEventDrivenRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_MergerAndEventDrivenRiskMember_lbl" xml:lang="en-US">Merger and Event-Driven Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_OptionsRiskMember" xlink:label="df_OptionsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_OptionsRiskMember" xlink:to="df_OptionsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_OptionsRiskMember_lbl" xml:lang="en-US">Options Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_ForwardContractRiskMember" xlink:label="df_ForwardContractRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_ForwardContractRiskMember" xlink:to="df_ForwardContractRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_ForwardContractRiskMember_lbl" xml:lang="en-US">Forward Contract Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_SmallAndMediumCapitalizationRiskMember" xlink:label="df_SmallAndMediumCapitalizationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_SmallAndMediumCapitalizationRiskMember" xlink:to="df_SmallAndMediumCapitalizationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_SmallAndMediumCapitalizationRiskMember_lbl" xml:lang="en-US">Small and Medium Capitalization Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_IPORiskMember" xlink:label="df_IPORiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_IPORiskMember" xlink:to="df_IPORiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_IPORiskMember_lbl" xml:lang="en-US">IPO Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_DistributionPolicyRiskMember" xlink:label="df_DistributionPolicyRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_DistributionPolicyRiskMember" xlink:to="df_DistributionPolicyRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_DistributionPolicyRiskMember_lbl" xml:lang="en-US">Distribution Policy Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_ActiveManagementRiskMember" xlink:label="df_ActiveManagementRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_ActiveManagementRiskMember" xlink:to="df_ActiveManagementRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_ActiveManagementRiskMember_lbl" xml:lang="en-US">Active Management Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_S000020971Member" xlink:label="df_S000020971Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_S000020971Member" xlink:to="df_S000020971Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000020971Member_lbl" xml:lang="en-US">Dunham Real Estate Stock Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059508Member" xlink:label="df_C000059508Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059508Member" xlink:to="df_C000059508Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059508Member_lbl" xml:lang="en-US">Dunham Real Estate Stock Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_RealEstateIndustryConcentrationRiskMember" xlink:label="df_RealEstateIndustryConcentrationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_RealEstateIndustryConcentrationRiskMember" xlink:to="df_RealEstateIndustryConcentrationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_RealEstateIndustryConcentrationRiskMember_lbl" xml:lang="en-US">Real Estate Industry Concentration Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_S000080196Member" xlink:label="df_S000080196Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_S000080196Member" xlink:to="df_S000080196Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_S000080196Member_lbl" xml:lang="en-US">Dunham U.S. Enhanced Market Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000241914Member" xlink:label="df_C000241914Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000241914Member" xlink:to="df_C000241914Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000241914Member_lbl" xml:lang="en-US">Dunham U.S. Enhanced Market Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_TacticalAssetAllocationRiskMember" xlink:label="df_TacticalAssetAllocationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_TacticalAssetAllocationRiskMember" xlink:to="df_TacticalAssetAllocationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_TacticalAssetAllocationRiskMember_lbl" xml:lang="en-US">Tactical Asset Allocation Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_FLEXOptionsRiskMember" xlink:label="df_FLEXOptionsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_FLEXOptionsRiskMember" xlink:to="df_FLEXOptionsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_FLEXOptionsRiskMember_lbl" xml:lang="en-US">FLEX Options Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_ValuationRiskMember" xlink:label="df_ValuationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_ValuationRiskMember" xlink:to="df_ValuationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_ValuationRiskMember_lbl" xml:lang="en-US">Valuation Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_CounterpartyRiskMember" xlink:label="df_CounterpartyRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_CounterpartyRiskMember" xlink:to="df_CounterpartyRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_CounterpartyRiskMember_lbl" xml:lang="en-US">Counterparty Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_CorrelationRiskMember" xlink:label="df_CorrelationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_CorrelationRiskMember" xlink:to="df_CorrelationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_CorrelationRiskMember_lbl" xml:lang="en-US">Correlation Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_UpsideParticipationRiskDownsideLossRiskMember" xlink:label="df_UpsideParticipationRiskDownsideLossRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_UpsideParticipationRiskDownsideLossRiskMember" xlink:to="df_UpsideParticipationRiskDownsideLossRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_UpsideParticipationRiskDownsideLossRiskMember_lbl" xml:lang="en-US">Upside Participation Risk/Downside Loss Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_LimitedHistoryOfOperationsRiskMember" xlink:label="df_LimitedHistoryOfOperationsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_LimitedHistoryOfOperationsRiskMember" xlink:to="df_LimitedHistoryOfOperationsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_LimitedHistoryOfOperationsRiskMember_lbl" xml:lang="en-US">Limited History of Operations Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_NaturalDisasterEndemicRiskMember" xlink:label="df_NaturalDisasterEndemicRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_NaturalDisasterEndemicRiskMember" xlink:to="df_NaturalDisasterEndemicRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_NaturalDisasterEndemicRiskMember_lbl" xml:lang="en-US">Natural Disaster / Endemic Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059524Member" xlink:label="df_C000059524Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059524Member" xlink:to="df_C000059524Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059524Member_lbl" xml:lang="en-US">Dunham Corporate/Government Bond Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059525Member" xlink:label="df_C000059525Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059525Member" xlink:to="df_C000059525Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059525Member_lbl" xml:lang="en-US">Dunham Corporate/Government Bond Fund Class N</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000131124Member" xlink:label="df_C000131124Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000131124Member" xlink:to="df_C000131124Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000131124Member_lbl" xml:lang="en-US">Dunham Floating Rate Bond Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000131125Member" xlink:label="df_C000131125Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000131125Member" xlink:to="df_C000131125Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000131125Member_lbl" xml:lang="en-US">Dunham Floating Rate Bond Fund Class N</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059530Member" xlink:label="df_C000059530Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059530Member" xlink:to="df_C000059530Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059530Member_lbl" xml:lang="en-US">Dunham High Yield Bond Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059531Member" xlink:label="df_C000059531Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059531Member" xlink:to="df_C000059531Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059531Member_lbl" xml:lang="en-US">Dunham High Yield Bond Fund Class N</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000131121Member" xlink:label="df_C000131121Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000131121Member" xlink:to="df_C000131121Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000131121Member_lbl" xml:lang="en-US">Dunham International Opportunity Bond Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000131122Member" xlink:label="df_C000131122Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000131122Member" xlink:to="df_C000131122Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000131122Member_lbl" xml:lang="en-US">Dunham International Opportunity Bond Fund Class N</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059512Member" xlink:label="df_C000059512Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059512Member" xlink:to="df_C000059512Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059512Member_lbl" xml:lang="en-US">Dunham Large Cap Value Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059513Member" xlink:label="df_C000059513Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059513Member" xlink:to="df_C000059513Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059513Member_lbl" xml:lang="en-US">Dunham Large Cap Value Fund Class N</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059518Member" xlink:label="df_C000059518Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059518Member" xlink:to="df_C000059518Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059518Member_lbl" xml:lang="en-US">Dunham Small Cap Value Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059519Member" xlink:label="df_C000059519Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059519Member" xlink:to="df_C000059519Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059519Member_lbl" xml:lang="en-US">Dunham Small Cap Value Fund Class N</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000107186Member" xlink:label="df_C000107186Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000107186Member" xlink:to="df_C000107186Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000107186Member_lbl" xml:lang="en-US">Dunham Focused Large Cap Growth Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000107187Member" xlink:label="df_C000107187Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000107187Member" xlink:to="df_C000107187Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000107187Member_lbl" xml:lang="en-US">Dunham Focused Large Cap Growth Fund Class N</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059515Member" xlink:label="df_C000059515Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059515Member" xlink:to="df_C000059515Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059515Member_lbl" xml:lang="en-US">Dunham Small Cap Growth Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059516Member" xlink:label="df_C000059516Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059516Member" xlink:to="df_C000059516Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059516Member_lbl" xml:lang="en-US">Dunham Small Cap Growth Fund Class N</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059527Member" xlink:label="df_C000059527Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059527Member" xlink:to="df_C000059527Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059527Member_lbl" xml:lang="en-US">Dunham Emerging Markets Stock Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059528Member" xlink:label="df_C000059528Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059528Member" xlink:to="df_C000059528Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059528Member_lbl" xml:lang="en-US">Dunham Emerging Markets Stock Fund Class N</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059533Member" xlink:label="df_C000059533Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059533Member" xlink:to="df_C000059533Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059533Member_lbl" xml:lang="en-US">Dunham International Stock Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059534Member" xlink:label="df_C000059534Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059534Member" xlink:to="df_C000059534Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059534Member_lbl" xml:lang="en-US">Dunham International Stock Fund Class N</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000087896Member" xlink:label="df_C000087896Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000087896Member" xlink:to="df_C000087896Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000087896Member_lbl" xml:lang="en-US">Dunham Dynamic Macro Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000087897Member" xlink:label="df_C000087897Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000087897Member" xlink:to="df_C000087897Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000087897Member_lbl" xml:lang="en-US">Dunham Dynamic Macro Fund Class N</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059521Member" xlink:label="df_C000059521Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059521Member" xlink:to="df_C000059521Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059521Member_lbl" xml:lang="en-US">Dunham Long/Short Credit Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059522Member" xlink:label="df_C000059522Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059522Member" xlink:to="df_C000059522Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059522Member_lbl" xml:lang="en-US">Dunham Long/Short Credit Fund Class N</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000066379Member" xlink:label="df_C000066379Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000066379Member" xlink:to="df_C000066379Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000066379Member_lbl" xml:lang="en-US">Dunham Monthly Distribution Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000066380Member" xlink:label="df_C000066380Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000066380Member" xlink:to="df_C000066380Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000066380Member_lbl" xml:lang="en-US">Dunham Monthly Distribution Fund Class N</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059509Member" xlink:label="df_C000059509Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059509Member" xlink:to="df_C000059509Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059509Member_lbl" xml:lang="en-US">Dunham Real Estate Stock Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000059510Member" xlink:label="df_C000059510Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000059510Member" xlink:to="df_C000059510Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000059510Member_lbl" xml:lang="en-US">Dunham Real Estate Stock Fund Class N</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000241912Member" xlink:label="df_C000241912Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="df_C000241912Member" xlink:to="df_C000241912Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="df_C000241912Member_lbl" xml:lang="en-US">Dunham U.S. Enhanced Market Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="df-20260227.xsd#df_C000241913Member" xlink:label="df_C000241913Member" />
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