ASCIX vs. DFLEX
ASCIX (Angel Oak Strategic Credit Fund) and DFLEX (DoubleLine Flexible Income Fund) are both Nontraditional Bonds funds. Over the past 5 years, ASCIX returned 7.30%/yr vs 3.12%/yr for DFLEX. Their 0.43 correlation means their historical movements had little consistent relationship. ASCIX charges 0.85%/yr vs 0.74%/yr for DFLEX.
Performance
ASCIX vs. DFLEX - Performance Comparison
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Returns By Period
In the year-to-date period, ASCIX achieves a 2.99% return, which is significantly higher than DFLEX's 1.97% return.
ASCIX
- 1D
- -0.05%
- 1M
- -0.29%
- 6M
- 2.20%
- YTD
- 2.99%
- 1Y
- 5.39%
- 3Y*
- 8.87%
- 5Y*
- 7.30%
- 10Y*
- —
- ALL TIME*
- 6.48%
DFLEX
- 1D
- 0.12%
- 1M
- 0.12%
- 6M
- 1.43%
- YTD
- 1.97%
- 1Y
- 4.43%
- 3Y*
- 7.23%
- 5Y*
- 3.12%
- 10Y*
- 3.60%
- ALL TIME*
- 3.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
ASCIX vs. DFLEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ASCIX Angel Oak Strategic Credit Fund | 2.99% | 8.04% | 11.06% | 11.95% | -4.79% | 14.93% | 1.51% | 7.80% | 3.51% | 0.00% |
DFLEX DoubleLine Flexible Income Fund | 1.97% | 6.58% | 8.65% | 7.84% | -8.48% | 3.79% | 2.93% | 7.21% | 0.10% | 0.20% |
Correlation
The correlation between ASCIX and DFLEX is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.51 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.50 |
Correlation (All Time) Calculated using the full available price history since Dec 26, 2017 | 0.43 |
The correlation between ASCIX and DFLEX has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.
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Return for Risk
ASCIX vs. DFLEX — Risk / Return Rank
ASCIX
DFLEX
ASCIX vs. DFLEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Angel Oak Strategic Credit Fund (ASCIX) and DoubleLine Flexible Income Fund (DFLEX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ASCIX | DFLEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -1.70 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.92 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 4.41 | 5.16 | -0.75 |
| Martin ratioReturn relative to average drawdown | 12.31 | 22.72 | -10.41 |
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Drawdowns
ASCIX vs. DFLEX - Drawdown Comparison
The maximum ASCIX drawdown since its inception was -25.70%, which is greater than DFLEX's maximum drawdown of -17.29%. Use the drawdown chart below to compare losses from any high point for ASCIX and DFLEX.
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Drawdown Indicators
| ASCIX | DFLEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.70% | -17.29% | -8.41% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -0.91% | -0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -1.49% | -1.15% | -0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -7.54% | -11.00% | +3.46% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.29% | — |
Current DrawdownCurrent decline from peak | -0.34% | 0.00% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -1.84% | -1.54% | -0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 0.21% | +0.32% |
Volatility
ASCIX vs. DFLEX - Volatility Comparison
The current volatility for Angel Oak Strategic Credit Fund (ASCIX) is 0.35%, while DoubleLine Flexible Income Fund (DFLEX) has a volatility of 0.39%. This indicates that ASCIX experiences smaller price fluctuations and is considered to be less risky than DFLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ASCIX | DFLEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.35% | 0.39% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.98% | 1.11% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.30% | 1.39% | +1.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.51% | 1.94% | +1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.37% | 2.73% | +2.64% |
ASCIX vs. DFLEX - Expense Ratio Comparison
ASCIX has a 0.85% expense ratio, which is higher than DFLEX's 0.74% expense ratio.
Dividends
ASCIX vs. DFLEX - Dividend Comparison
ASCIX's dividend yield for the trailing twelve months is around 7.76%, more than DFLEX's 5.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASCIX Angel Oak Strategic Credit Fund | 7.76% | 8.55% | 8.76% | 8.40% | 8.04% | 13.64% | 8.74% | 6.97% | 6.14% | 0.00% | 0.00% | 0.00% |
DFLEX DoubleLine Flexible Income Fund | 5.05% | 5.68% | 6.05% | 5.95% | 4.72% | 3.86% | 3.96% | 4.46% | 4.46% | 3.82% | 3.75% | 4.32% |
Frequently Asked Questions
ASCIX and DFLEX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFLEX has higher volatility (0.39%) compared to ASCIX (0.35%). In terms of maximum drawdown, ASCIX dropped -25.70% vs DFLEX's -17.29%.
DFLEX currently has the higher Sharpe Ratio (3.37 vs 2.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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