DBLTX vs. FBND
DBLTX (DoubleLine Total Return Bond Fund Class I) and FBND (Fidelity Total Bond ETF) are both funds - DBLTX is a Total Bond Market fund actively managed by DoubleLine, while FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity. Both are actively managed. Over the past 10 years, DBLTX returned 1.62%/yr vs 2.27%/yr for FBND. Their correlation of 0.81 means they have usually moved in the same direction. DBLTX charges 0.50%/yr vs 0.36%/yr for FBND.
Performance
DBLTX vs. FBND - Performance Comparison
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Returns By Period
In the year-to-date period, DBLTX achieves a -0.46% return, which is significantly lower than FBND's -0.33% return. Over the past 10 years, DBLTX has underperformed FBND with an annualized return of 1.62%, while FBND has yielded a comparatively higher 2.27% annualized return.
DBLTX
- 1D
- 0.00%
- 1M
- -0.69%
- 6M
- -0.81%
- YTD
- -0.46%
- 1Y
- 2.38%
- 3Y*
- 4.56%
- 5Y*
- 0.27%
- 10Y*
- 1.62%
- ALL TIME*
- 3.44%
FBND
- 1D
- -0.27%
- 1M
- -1.26%
- 6M
- -0.60%
- YTD
- -0.33%
- 1Y
- 2.08%
- 3Y*
- 4.55%
- 5Y*
- 0.31%
- 10Y*
- 2.27%
- ALL TIME*
- 2.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $133.84M | $127.41M | $124.15M |
DBLTX vs. FBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBLTX DoubleLine Total Return Bond Fund Class I | -0.46% | 8.05% | 3.08% | 5.34% | -12.56% | 0.24% | 4.13% | 5.81% | 1.76% | 3.80% |
FBND Fidelity Total Bond ETF | -0.33% | 7.57% | 2.13% | 6.81% | -12.54% | -0.43% | 9.41% | 9.82% | -0.57% | 3.52% |
Correlation
The correlation between DBLTX and FBND is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2014 | 0.81 |
The correlation between DBLTX and FBND shifts across timeframes, from 0.81 (all time) to 0.94 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DBLTX vs. FBND — Risk / Return Rank
DBLTX
FBND
DBLTX vs. FBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Total Return Bond Fund Class I (DBLTX) and Fidelity Total Bond ETF (FBND). 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.
| DBLTX | FBND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.13 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | 1.09 | -0.05 |
| Martin ratioReturn relative to average drawdown | 2.49 | 2.77 | -0.28 |
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Drawdowns
DBLTX vs. FBND - Drawdown Comparison
The maximum DBLTX drawdown since its inception was -16.49%, roughly equal to the maximum FBND drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for DBLTX and FBND.
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Drawdown Indicators
| DBLTX | FBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.49% | -17.25% | +0.76% |
Max Drawdown (1Y)Largest decline over 1 year | -3.17% | -2.66% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -5.33% | -4.95% | -0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -16.49% | -17.25% | +0.76% |
Max Drawdown (10Y)Largest decline over 10 years | -16.49% | -17.25% | +0.76% |
Current DrawdownCurrent decline from peak | -2.46% | -2.24% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -3.32% | +0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 1.05% | +0.27% |
Volatility
DBLTX vs. FBND - Volatility Comparison
DoubleLine Total Return Bond Fund Class I (DBLTX) has a higher volatility of 1.05% compared to Fidelity Total Bond ETF (FBND) at 0.95%. This indicates that DBLTX's price experiences larger fluctuations and is considered to be riskier than FBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBLTX | FBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 0.95% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.01% | 2.94% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.80% | 3.77% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.62% | 5.93% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 6.10% | -1.68% |
DBLTX vs. FBND - Expense Ratio Comparison
DBLTX has a 0.50% expense ratio, which is higher than FBND's 0.36% expense ratio.
Dividends
DBLTX vs. FBND - Dividend Comparison
DBLTX's dividend yield for the trailing twelve months is around 4.52%, less than FBND's 4.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBLTX DoubleLine Total Return Bond Fund Class I | 4.52% | 4.86% | 5.03% | 4.35% | 3.86% | 3.12% | 3.39% | 3.66% | 3.74% | 3.65% | 3.72% | 4.11% |
FBND Fidelity Total Bond ETF | 4.77% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
Frequently Asked Questions
With a correlation of 0.93, DBLTX and FBND 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.
DBLTX has higher volatility (1.05%) compared to FBND (0.95%). In terms of maximum drawdown, DBLTX dropped -16.49% vs FBND's -17.25%.
DBLTX currently has the higher Sharpe Ratio (0.87 vs 0.77), 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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