DABS vs. CAPE

Last updated Aug 4, 2026

DABS (DoubleLine Asset-Backed Securities ETF) and CAPE (DoubleLine Shiller CAPE U.S. Equities ETF) are both exchange-traded funds - DABS is a Nontraditional Bonds fund actively managed by DoubleLine, while CAPE is a Large Cap Value Equities fund actively managed by DoubleLine. Both are actively managed. Over the past year, DABS returned 3.97% vs 6.82% for CAPE. Their 0.18 correlation means their historical movements had little consistent relationship. DABS charges 0.40%/yr vs 0.65%/yr for CAPE.

Performance

DABS vs. CAPE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Asset-Backed Securities ETF (DABS) and DoubleLine Shiller CAPE U.S. Equities ETF (CAPE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DABS achieves a 1.56% return, which is significantly lower than CAPE's 2.91% return.

DABS

• 1D: 0.09%
• 1M: 0.06%
• 6M: 1.18%
• YTD: 1.56%
• 1Y: 3.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.08%

CAPE

• 1D: 0.61%
• 1M: 0.04%
• 6M: 0.68%
• YTD: 2.91%
• 1Y: 6.82%
• 3Y*: 11.25%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.88%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CAPE DoubleLine Shiller CAPE U.S. Equities ETF	$487.88K	$462.19K	$933.98K
DABS DoubleLine Asset-Backed Securities ETF	$488.99K	$528.18K	$1.01M

DABS vs. CAPE - Yearly Performance Comparison

	2026 (YTD)	2025
DABS DoubleLine Asset-Backed Securities ETF	1.56%	5.63%
CAPE DoubleLine Shiller CAPE U.S. Equities ETF	2.91%	3.95%

Correlation

The correlation between DABS and CAPE is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.29
Correlation (All Time) Calculated using the full available price history since Mar 4, 2025	0.18

The correlation between DABS and CAPE shifts across timeframes, from 0.18 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DABS vs. CAPE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DABS

DABS Risk / Return Rank: 74
DABS Sharpe Ratio Rank: 68
DABS Sortino Ratio Rank: 72
DABS Omega Ratio Rank: 73
DABS Calmar Ratio Rank: 79
DABS Martin Ratio Rank: 76

CAPE

CAPE Risk / Return Rank: 26
CAPE Sharpe Ratio Rank: 26
CAPE Sortino Ratio Rank: 25
CAPE Omega Ratio Rank: 24
CAPE Calmar Ratio Rank: 24
CAPE Martin Ratio Rank: 29

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DABS vs. CAPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Asset-Backed Securities ETF (DABS) and DoubleLine Shiller CAPE U.S. Equities ETF (CAPE). 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.

	DABS	CAPE	Difference
Sharpe ratio: Return per unit of total volatility	1.71	0.59	+1.12
Sortino ratio: Return per unit of downside risk	2.55	0.93	+1.62
Omega ratio: Gain probability vs. loss probability	1.33	1.11	+0.22
Calmar ratio: Return relative to maximum drawdown	3.09	0.71	+2.38
Martin ratio: Return relative to average drawdown	10.57	2.50	+8.07

DABS vs. CAPE - Sharpe Ratio Comparison

The current DABS Sharpe Ratio is 1.71, which is higher than the CAPE Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of DABS and CAPE, 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

DABS vs. CAPE - Drawdown Comparison

The maximum DABS drawdown since its inception was -1.47%, smaller than the maximum CAPE drawdown of -22.07%. Use the drawdown chart below to compare losses from any high point for DABS and CAPE.

Drawdown Indicators

	DABS	CAPE	Difference
Max Drawdown Largest peak-to-trough decline	-1.47%	-22.07%	+20.60%
Max Drawdown (1Y) Largest decline over 1 year	-1.29%	-9.68%	+8.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.32%	—
Current Drawdown Current decline from peak	-0.16%	-0.67%	+0.51%
Average Drawdown Average peak-to-trough decline	-0.29%	-4.81%	+4.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.38%	2.74%	-2.36%

Volatility

DABS vs. CAPE - Volatility Comparison

The current volatility for DoubleLine Asset-Backed Securities ETF (DABS) is 0.52%, while DoubleLine Shiller CAPE U.S. Equities ETF (CAPE) has a volatility of 4.46%. This indicates that DABS experiences smaller price fluctuations and is considered to be less risky than CAPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DABS	CAPE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.52%	4.46%	-3.94%
Volatility (6M) Calculated over the trailing 6-month period	1.68%	9.58%	-7.90%
Volatility (1Y) Calculated over the trailing 1-year period	2.34%	11.59%	-9.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.51%	16.84%	-14.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.51%	16.84%	-14.33%

DABS vs. CAPE - Expense Ratio Comparison

DABS has a 0.40% expense ratio, which is lower than CAPE's 0.65% expense ratio.

Dividends

DABS vs. CAPE - Dividend Comparison

DABS's dividend yield for the trailing twelve months is around 4.87%, more than CAPE's 1.37% yield.

Position	TTM	2025	2024	2023	2022
CAPE DoubleLine Shiller CAPE U.S. Equities ETF	1.37%	1.39%	1.23%	1.01%	0.80%
DABS DoubleLine Asset-Backed Securities ETF	4.87%	3.81%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DABS and CAPE in my portfolio?

DABS and CAPE have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DABS or CAPE?

CAPE has higher volatility (4.46%) compared to DABS (0.52%). In terms of maximum drawdown, DABS dropped -1.47% vs CAPE's -22.07%.

Which ETF is better, DABS or CAPE?

On 1-year performance, CAPE leads with 6.82% vs 3.97% for DABS. On fees, DABS is cheaper at 0.40% per year. On volatility, DABS has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DABS or CAPE?

Over the 1-year period, CAPE has performed better with a 6.82% return vs 3.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DABS or CAPE?

DABS is cheaper with a 0.40% expense ratio, compared with 0.65% for CAPE.

Which ETF pays a higher dividend yield, DABS or CAPE?

DABS has the higher dividend yield at 4.87%, compared with 1.37% for CAPE.

What is the main difference between DABS and CAPE?

DABS is categorized as Nontraditional Bonds, while CAPE is Large Cap Value Equities. Their fees differ too: 0.40% for DABS and 0.65% for CAPE.

Which has better risk-adjusted returns?

DABS currently has the higher Sharpe Ratio (1.71 vs 0.59), 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.