DBELX vs. DBLTX

Last updated Jun 5, 2026

DBELX (DoubleLine Emerging Markets Local Currency Bond Fund) and DBLTX (DoubleLine Total Return Bond Fund Class I) are both mutual funds - DBELX is a Emerging Markets Bonds fund managed by DoubleLine, while DBLTX is a Total Bond Market fund managed by DoubleLine. Over the past 5 years, DBELX returned 2.73%/yr vs 0.58%/yr for DBLTX. At a 0.25 correlation, their price movements are largely independent. DBELX charges 0.90%/yr vs 0.50%/yr for DBLTX.

Performance

DBELX vs. DBLTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Emerging Markets Local Currency Bond Fund (DBELX) and DoubleLine Total Return Bond Fund Class I (DBLTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBELX achieves a 1.86% return, which is significantly higher than DBLTX's -0.10% return.

DBELX

• 1D: -0.62%
• 1M: 0.73%
• YTD: 1.86%
• 6M: 2.80%
• 1Y: 12.05%
• 3Y*: 8.13%
• 5Y*: 2.73%
• 10Y*: —

DBLTX

• 1D: -0.11%
• 1M: -0.06%
• YTD: -0.10%
• 6M: 0.11%
• 1Y: 4.57%
• 3Y*: 4.50%
• 5Y*: 0.58%
• 10Y*: 1.77%

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

DBELX vs. DBLTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DBELX DoubleLine Emerging Markets Local Currency Bond Fund	1.86%	20.86%	-4.37%	12.50%	-6.99%	-9.37%	2.61%	0.89%
DBLTX DoubleLine Total Return Bond Fund Class I	-0.10%	8.05%	3.08%	5.34%	-12.56%	0.24%	4.13%	1.38%

Correlation

The correlation between DBELX and DBLTX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jul 1, 2019	0.25

The correlation between DBELX and DBLTX shifts across timeframes, from 0.25 (all time) to 0.39 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

DBELX vs. DBLTX — Risk / Return Rank

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

DBELX

DBELX Risk / Return Rank: 33
DBELX Sharpe Ratio Rank: 36
DBELX Sortino Ratio Rank: 35
DBELX Omega Ratio Rank: 41
DBELX Calmar Ratio Rank: 25
DBELX Martin Ratio Rank: 29

DBLTX

DBLTX Risk / Return Rank: 22
DBLTX Sharpe Ratio Rank: 23
DBLTX Sortino Ratio Rank: 24
DBLTX Omega Ratio Rank: 23
DBLTX Calmar Ratio Rank: 21
DBLTX Martin Ratio Rank: 19

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.

DBELX vs. DBLTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Emerging Markets Local Currency Bond Fund (DBELX) and DoubleLine Total Return Bond Fund Class I (DBLTX). 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.

	DBELX	DBLTX	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.38	+0.35
Sortino ratio: Return per unit of downside risk	2.43	2.05	+0.38
Omega ratio: Gain probability vs. loss probability	1.34	1.25	+0.09
Calmar ratio: Return relative to maximum drawdown	1.81	1.68	+0.13
Martin ratio: Return relative to average drawdown	6.61	5.09	+1.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBELX vs. DBLTX - Sharpe Ratio Comparison

The current DBELX Sharpe Ratio is 1.72, which is comparable to the DBLTX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of DBELX and DBLTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DBELX	DBLTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	1.38	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.10	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.91	-0.62

Drawdowns

DBELX vs. DBLTX - Drawdown Comparison

The maximum DBELX drawdown since its inception was -21.95%, which is greater than DBLTX's maximum drawdown of -16.49%. Use the drawdown chart below to compare losses from any high point for DBELX and DBLTX.

Drawdown Indicators

	DBELX	DBLTX	Difference
Max Drawdown Largest peak-to-trough decline	-21.95%	-16.49%	-5.46%
Max Drawdown (1Y) Largest decline over 1 year	-6.89%	-3.17%	-3.72%
Max Drawdown (3Y) Largest decline over 3 years	-8.54%	-6.59%	-1.95%
Max Drawdown (5Y) Largest decline over 5 years	-19.87%	-16.49%	-3.38%
Max Drawdown (10Y) Largest decline over 10 years	—	-16.49%	—
Current Drawdown Current decline from peak	-2.30%	-2.11%	-0.19%
Average Drawdown Average peak-to-trough decline	-7.21%	-2.38%	-4.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	1.04%	+0.84%

Volatility

DBELX vs. DBLTX - Volatility Comparison

DoubleLine Emerging Markets Local Currency Bond Fund (DBELX) has a higher volatility of 2.39% compared to DoubleLine Total Return Bond Fund Class I (DBLTX) at 1.34%. This indicates that DBELX's price experiences larger fluctuations and is considered to be riskier than DBLTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBELX	DBLTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.39%	1.34%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	6.35%	2.77%	+3.58%
Volatility (1Y) Calculated over the trailing 1-year period	7.25%	3.86%	+3.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.13%	5.60%	+1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.46%	4.40%	+3.06%

DBELX vs. DBLTX - Expense Ratio Comparison

DBELX has a 0.90% expense ratio, which is higher than DBLTX's 0.50% expense ratio.

Dividends

DBELX vs. DBLTX - Dividend Comparison

DBELX's dividend yield for the trailing twelve months is around 4.95%, more than DBLTX's 4.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBELX DoubleLine Emerging Markets Local Currency Bond Fund	4.95%	4.41%	3.80%	2.03%	2.01%	1.98%	1.17%	1.06%	0.00%	0.00%	0.00%	0.00%
DBLTX DoubleLine Total Return Bond Fund Class I	4.89%	4.86%	5.03%	4.35%	3.86%	3.12%	3.39%	3.66%	3.74%	3.65%	3.72%	4.11%

Frequently Asked Questions

Can I hold both DBELX and DBLTX in my portfolio?

DBELX and DBLTX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBELX or DBLTX?

DBELX has higher volatility (2.39%) compared to DBLTX (1.34%). In terms of maximum drawdown, DBELX dropped -21.95% vs DBLTX's -16.49%.

Which has better risk-adjusted returns?

DBELX currently has the higher Sharpe Ratio (1.72 vs 1.38), 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.