DCPE vs. CAPE

Last updated Aug 4, 2026

DCPE (DoubleLine Shiller CAPE US Equities ETF) and CAPE (DoubleLine Shiller CAPE U.S. Equities ETF) are both Large Cap Value Equities funds from DoubleLine. DCPE is passively managed, while CAPE is actively managed. Over the past 3 years, DCPE returned 11.25%/yr vs 11.25%/yr for CAPE. Their 1.00 correlation means they have historically moved very closely together. Both charge a 0.65% expense ratio.

Performance

DCPE vs. CAPE - Performance Comparison

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

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with DCPE at 2.91% and CAPE at 2.91%.

DCPE

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

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
DCPE DoubleLine Shiller CAPE US Equities ETF	$487.88K	$462.19K	$933.98K

DCPE vs. CAPE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DCPE DoubleLine Shiller CAPE US Equities ETF	2.91%	9.10%	14.40%	27.65%	-15.28%
CAPE DoubleLine Shiller CAPE U.S. Equities ETF	2.91%	9.10%	14.40%	27.65%	-15.28%

Correlation

The correlation between DCPE and CAPE is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (3Y) Balances recent behavior with more history.	1.00
Correlation (All Time) Calculated using the full available price history since Apr 4, 2022	1.00

The correlation between DCPE and CAPE has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

DCPE vs. CAPE — Risk / Return Rank

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

DCPE

DCPE Risk / Return Rank: 24
DCPE Sharpe Ratio Rank: 24
DCPE Sortino Ratio Rank: 23
DCPE Omega Ratio Rank: 22
DCPE Calmar Ratio Rank: 22
DCPE Martin Ratio Rank: 27

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.

DCPE vs. CAPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Shiller CAPE US Equities ETF (DCPE) 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.

	DCPE	CAPE	Difference
Sharpe ratio: Return per unit of total volatility	0.59	0.59	0.00
Sortino ratio: Return per unit of downside risk	0.93	0.93	0.00
Omega ratio: Gain probability vs. loss probability	1.11	1.11	0.00
Calmar ratio: Return relative to maximum drawdown	0.71	0.71	0.00
Martin ratio: Return relative to average drawdown	2.50	2.50	0.00

DCPE vs. CAPE - Sharpe Ratio Comparison

The current DCPE Sharpe Ratio is 0.59, which is comparable to the CAPE Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of DCPE 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

DCPE vs. CAPE - Drawdown Comparison

The maximum DCPE drawdown since its inception was -22.07%, roughly equal to the maximum CAPE drawdown of -22.07%. Use the drawdown chart below to compare losses from any high point for DCPE and CAPE.

Drawdown Indicators

	DCPE	CAPE	Difference
Max Drawdown Largest peak-to-trough decline	-22.07%	-22.07%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-9.68%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-14.32%	-14.32%	0.00%
Current Drawdown Current decline from peak	-0.67%	-0.67%	0.00%
Average Drawdown Average peak-to-trough decline	-4.81%	-4.81%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	2.74%	0.00%

Volatility

DCPE vs. CAPE - Volatility Comparison

DoubleLine Shiller CAPE US Equities ETF (DCPE) and DoubleLine Shiller CAPE U.S. Equities ETF (CAPE) have volatilities of 4.46% and 4.46%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DCPE	CAPE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.46%	4.46%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	9.58%	9.58%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	11.59%	11.59%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.84%	16.84%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.84%	16.84%	0.00%

DCPE vs. CAPE - Expense Ratio Comparison

Both DCPE and CAPE have an expense ratio of 0.65%.

Dividends

DCPE vs. CAPE - Dividend Comparison

DCPE's dividend yield for the trailing twelve months is around 1.37%, which matches 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%
DCPE DoubleLine Shiller CAPE US Equities ETF	1.37%	1.39%	1.23%	1.01%	0.80%

Frequently Asked Questions

Can I hold both DCPE and CAPE in my portfolio?

With a correlation of 1.00, DCPE and CAPE 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, DCPE or CAPE?

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

Which ETF is better, DCPE or CAPE?

On 3-year performance, CAPE leads with 11.25% vs 11.25% for DCPE. Both ETFs have the same 0.65% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DCPE or CAPE?

Over the 3-year period, CAPE has performed better with a 11.25% return vs 11.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DCPE or CAPE?

DCPE and CAPE have the same expense ratio: 0.65% per year.

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

DCPE and CAPE have nearly identical dividend yields, around 1.37%.

Which has better risk-adjusted returns?

CAPE currently has the higher Sharpe Ratio (0.59 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.