DAC12DL3200: Calculation of Full Scale Output power

Part Number: DAC12DL3200

Tool/software:

Hello, 

I am trying to figure out my cascaded analysis for an RF powerchain and wanted to know what my expected output should be.

If we set course current and fine current to its max digital value, we should have a differential current Iffswitch to be 20.5mA based on the equation give by page 58 in the datasheet.

Given that Rterm is 106ohms, then the output power for a single sign wave should be Irms^2*Rterm = (20.5mA)^2*106 = 44.5mW. Converting this to dBm gives around 16dBm full scale.

After taking in account the Normalized Magnitude response, my output power is still about 15 dB less than expected. I know I am outputting FS current, so am I calculating the output power wrong?