DBLTX vs. DBND

Last updated Jun 4, 2026

DBLTX (DoubleLine Total Return Bond Fund Class I) and DBND (DoubleLine Opportunistic Bond ETF) are both funds - DBLTX is a Total Bond Market fund managed by DoubleLine, while DBND is a Intermediate Core-Plus Bond fund tracking the Bloomberg US Aggregate Bond Index. Over the past 3 years, DBLTX returned 4.54%/yr vs 4.50%/yr for DBND. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

DBLTX vs. DBND - Performance Comparison

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

Returns By Period

In the year-to-date period, DBLTX achieves a 0.01% return, which is significantly higher than DBND's -0.21% return.

DBLTX

• 1D: 0.00%
• 1M: 0.16%
• YTD: 0.01%
• 6M: 0.00%
• 1Y: 5.41%
• 3Y*: 4.54%
• 5Y*: 0.66%
• 10Y*: 1.78%

DBND

• 1D: -0.11%
• 1M: 0.03%
• YTD: -0.21%
• 6M: -0.07%
• 1Y: 4.85%
• 3Y*: 4.50%
• 5Y*: —
• 10Y*: —

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

DBLTX vs. DBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DBLTX DoubleLine Total Return Bond Fund Class I	0.01%	8.05%	3.08%	5.34%	-7.27%
DBND DoubleLine Opportunistic Bond ETF	-0.21%	7.41%	3.06%	6.33%	-5.93%

Correlation

The correlation between DBLTX and DBND is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (All Time) Calculated using the full available price history since Apr 6, 2022	0.92

The correlation between DBLTX and DBND has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

DBLTX vs. DBND — Risk / Return Rank

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

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

DBND

DBND Risk / Return Rank: 39
DBND Sharpe Ratio Rank: 42
DBND Sortino Ratio Rank: 45
DBND Omega Ratio Rank: 41
DBND Calmar Ratio Rank: 35
DBND Martin Ratio Rank: 34

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.

DBLTX vs. DBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Total Return Bond Fund Class I (DBLTX) and DoubleLine Opportunistic Bond ETF (DBND). 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.

	DBLTX	DBND	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.48	-0.10
Sortino ratio: Return per unit of downside risk	2.05	2.23	-0.18
Omega ratio: Gain probability vs. loss probability	1.25	1.27	-0.01
Calmar ratio: Return relative to maximum drawdown	1.68	1.72	-0.04
Martin ratio: Return relative to average drawdown	5.13	5.10	+0.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBLTX vs. DBND - Sharpe Ratio Comparison

The current DBLTX Sharpe Ratio is 1.38, which is comparable to the DBND Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of DBLTX and DBND, 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

	DBLTX	DBND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	1.48	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.48	+0.43

Drawdowns

DBLTX vs. DBND - Drawdown Comparison

The maximum DBLTX drawdown since its inception was -16.49%, which is greater than DBND's maximum drawdown of -9.39%. Use the drawdown chart below to compare losses from any high point for DBLTX and DBND.

Drawdown Indicators

	DBLTX	DBND	Difference
Max Drawdown Largest peak-to-trough decline	-16.49%	-9.39%	-7.10%
Max Drawdown (1Y) Largest decline over 1 year	-3.17%	-2.83%	-0.34%
Max Drawdown (3Y) Largest decline over 3 years	-6.59%	-6.25%	-0.34%
Max Drawdown (5Y) Largest decline over 5 years	-16.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-16.49%	—	—
Current Drawdown Current decline from peak	-2.00%	-1.80%	-0.20%
Average Drawdown Average peak-to-trough decline	-2.38%	-2.27%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	0.95%	+0.08%

Volatility

DBLTX vs. DBND - Volatility Comparison

DoubleLine Total Return Bond Fund Class I (DBLTX) has a higher volatility of 1.38% compared to DoubleLine Opportunistic Bond ETF (DBND) at 1.07%. This indicates that DBLTX's price experiences larger fluctuations and is considered to be riskier than DBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBLTX	DBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	1.07%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	2.78%	2.33%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	3.87%	3.30%	+0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.60%	5.09%	+0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.41%	5.09%	-0.68%

DBLTX vs. DBND - Expense Ratio Comparison

Both DBLTX and DBND have an expense ratio of 0.50%.

Dividends

DBLTX vs. DBND - Dividend Comparison

DBLTX's dividend yield for the trailing twelve months is around 4.89%, more than DBND's 4.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
DBND DoubleLine Opportunistic Bond ETF	4.79%	4.78%	5.19%	4.39%	2.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DBLTX and DBND in my portfolio?

With a correlation of 0.92, DBLTX and DBND move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DBLTX or DBND?

DBLTX has higher volatility (1.38%) compared to DBND (1.07%). In terms of maximum drawdown, DBLTX dropped -16.49% vs DBND's -9.39%.

Which has better risk-adjusted returns?

DBND currently has the higher Sharpe Ratio (1.48 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.