DBND vs. DBLTX

Last updated Jun 4, 2026

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

Performance

DBND vs. DBLTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Opportunistic Bond ETF (DBND) 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, DBND achieves a -0.21% return, which is significantly lower than DBLTX's 0.01% return.

DBND

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

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%

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

DBND vs. DBLTX - Yearly Performance Comparison

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

Correlation

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

Return for Risk

DBND vs. DBLTX — Risk / Return Rank

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

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

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.

DBND vs. DBLTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Opportunistic Bond ETF (DBND) 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.

	DBND	DBLTX	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.38	+0.10
Sortino ratio: Return per unit of downside risk	2.23	2.05	+0.18
Omega ratio: Gain probability vs. loss probability	1.27	1.25	+0.01
Calmar ratio: Return relative to maximum drawdown	1.72	1.68	+0.04
Martin ratio: Return relative to average drawdown	5.10	5.13	-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.

DBND vs. DBLTX - Sharpe Ratio Comparison

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

	DBND	DBLTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.48	1.38	+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	0.48	0.91	-0.43

Drawdowns

DBND vs. DBLTX - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

DBND vs. DBLTX - Volatility Comparison

The current volatility for DoubleLine Opportunistic Bond ETF (DBND) is 1.07%, while DoubleLine Total Return Bond Fund Class I (DBLTX) has a volatility of 1.38%. This indicates that DBND experiences smaller price fluctuations and is considered to be less risky than DBLTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

DBND vs. DBLTX - Expense Ratio Comparison

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

Dividends

DBND vs. DBLTX - Dividend Comparison

DBND's dividend yield for the trailing twelve months is around 4.79%, less than DBLTX's 4.89% 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 DBND and DBLTX in my portfolio?

With a correlation of 0.92, DBND and DBLTX 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, DBND or DBLTX?

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

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.