CMFIX vs. DLSNX

Last updated Jun 23, 2026

CMFIX (CM Advisors Fixed Income Fund) and DLSNX (DoubleLine Low Duration Bond Fund Class N) are both Short-Term Bond funds. Over the past 10 years, CMFIX returned 3.13%/yr vs 2.59%/yr for DLSNX. At a 0.31 correlation, their price movements are largely independent. CMFIX charges 0.88%/yr vs 0.70%/yr for DLSNX.

Performance

CMFIX vs. DLSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CM Advisors Fixed Income Fund (CMFIX) and DoubleLine Low Duration Bond Fund Class N (DLSNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMFIX achieves a 0.81% return, which is significantly lower than DLSNX's 1.07% return. Over the past 10 years, CMFIX has outperformed DLSNX with an annualized return of 3.13%, while DLSNX has yielded a comparatively lower 2.59% annualized return.

CMFIX

• 1D: 0.00%
• 1M: -0.17%
• YTD: 0.81%
• 6M: 1.02%
• 1Y: 7.06%
• 3Y*: 7.45%
• 5Y*: 4.36%
• 10Y*: 3.13%

DLSNX

• 1D: 0.10%
• 1M: 0.33%
• YTD: 1.07%
• 6M: 1.14%
• 1Y: 3.93%
• 3Y*: 5.22%
• 5Y*: 2.93%
• 10Y*: 2.59%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CMFIX vs. DLSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMFIX CM Advisors Fixed Income Fund	0.81%	7.75%	4.55%	12.38%	-3.67%	3.06%	0.88%	2.82%	-1.63%	2.30%
DLSNX DoubleLine Low Duration Bond Fund Class N	1.07%	5.49%	5.06%	6.50%	-3.04%	0.56%	1.76%	4.47%	1.15%	2.30%

Correlation

The correlation between CMFIX and DLSNX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Oct 6, 2011	0.31

Return for Risk

CMFIX vs. DLSNX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMFIX

CMFIX Risk / Return Rank: 72
CMFIX Sharpe Ratio Rank: 45
CMFIX Sortino Ratio Rank: 53
CMFIX Omega Ratio Rank: 84
CMFIX Calmar Ratio Rank: 90
CMFIX Martin Ratio Rank: 89

DLSNX

DLSNX Risk / Return Rank: 97
DLSNX Sharpe Ratio Rank: 98
DLSNX Sortino Ratio Rank: 97
DLSNX Omega Ratio Rank: 97
DLSNX Calmar Ratio Rank: 96
DLSNX Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMFIX vs. DLSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CM Advisors Fixed Income Fund (CMFIX) and DoubleLine Low Duration Bond Fund Class N (DLSNX). 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.

	CMFIX	DLSNX	Difference
Sharpe ratio: Return per unit of total volatility	1.82	3.44	-1.62
Sortino ratio: Return per unit of downside risk	2.81	5.57	-2.76
Omega ratio: Gain probability vs. loss probability	1.52	1.95	-0.44
Calmar ratio: Return relative to maximum drawdown	4.39	5.61	-1.22
Martin ratio: Return relative to average drawdown	16.12	26.49	-10.37

CMFIX vs. DLSNX - Sharpe Ratio Comparison

The current CMFIX Sharpe Ratio is 1.82, which is lower than the DLSNX Sharpe Ratio of 3.44. The chart below compares the historical Sharpe Ratios of CMFIX and DLSNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CMFIX vs. DLSNX - Drawdown Comparison

The maximum CMFIX drawdown since its inception was -15.96%, which is greater than DLSNX's maximum drawdown of -7.46%. Use the drawdown chart below to compare losses from any high point for CMFIX and DLSNX.

Drawdown Indicators

	CMFIX	DLSNX	Difference
Max Drawdown Largest peak-to-trough decline	-15.96%	-7.46%	-8.50%
Max Drawdown (1Y) Largest decline over 1 year	-1.64%	-0.72%	-0.92%
Max Drawdown (3Y) Largest decline over 3 years	-3.65%	-0.72%	-2.93%
Max Drawdown (5Y) Largest decline over 5 years	-4.81%	-4.91%	+0.10%
Max Drawdown (10Y) Largest decline over 10 years	-4.81%	-7.46%	+2.65%
Current Drawdown Current decline from peak	-0.65%	-0.10%	-0.55%
Average Drawdown Average peak-to-trough decline	-1.04%	-0.41%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.45%	0.15%	+0.30%

Volatility

CMFIX vs. DLSNX - Volatility Comparison

CM Advisors Fixed Income Fund (CMFIX) has a higher volatility of 1.60% compared to DoubleLine Low Duration Bond Fund Class N (DLSNX) at 0.36%. This indicates that CMFIX's price experiences larger fluctuations and is considered to be riskier than DLSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMFIX	DLSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.60%	0.36%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	2.37%	0.89%	+1.48%
Volatility (1Y) Calculated over the trailing 1-year period	3.96%	1.18%	+2.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.15%	1.42%	+2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.19%	1.57%	+1.62%

CMFIX vs. DLSNX - Expense Ratio Comparison

CMFIX has a 0.88% expense ratio, which is higher than DLSNX's 0.70% expense ratio.

Dividends

CMFIX vs. DLSNX - Dividend Comparison

CMFIX's dividend yield for the trailing twelve months is around 4.80%, more than DLSNX's 4.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMFIX CM Advisors Fixed Income Fund	4.80%	3.28%	3.91%	4.21%	1.33%	2.49%	1.63%	2.23%	3.34%	3.74%	3.50%	1.85%
DLSNX DoubleLine Low Duration Bond Fund Class N	4.30%	4.40%	4.85%	4.25%	2.24%	1.47%	2.12%	2.96%	2.67%	2.18%	2.27%	2.22%

Frequently Asked Questions

Can I hold both CMFIX and DLSNX in my portfolio?

CMFIX and DLSNX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMFIX or DLSNX?

CMFIX has higher volatility (1.60%) compared to DLSNX (0.36%). In terms of maximum drawdown, CMFIX dropped -15.96% vs DLSNX's -7.46%.

Which has better risk-adjusted returns?

DLSNX currently has the higher Sharpe Ratio (3.44 vs 1.82), 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.