DCPE vs. DLUX

Last updated Jul 15, 2026

DCPE (DoubleLine Shiller CAPE US Equities ETF) and DLUX (DoubleLine Ultrashort Income ETF) are both exchange-traded funds - DCPE is a Large Cap Value Equities fund tracking the Shiller Barclays CAPE US Sector Index, while DLUX is a Ultrashort Bond fund actively managed by DoubleLine. DCPE is passively managed, while DLUX is actively managed. At a correlation of -0.07, they often move in opposite directions. DCPE charges 0.65%/yr vs 0.18%/yr for DLUX.

Performance

DCPE vs. DLUX - Performance Comparison

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

Returns By Period

DCPE

• 1D: -0.28%
• 1M: 0.07%
• 6M: 0.35%
• YTD: 1.57%
• 1Y: 3.39%
• 3Y*: 10.97%
• 5Y*: —
• 10Y*: —

DLUX

• 1D: 0.02%
• 1M: 0.31%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DCPE vs. DLUX - Yearly Performance Comparison

	2026 (YTD)
DCPE DoubleLine Shiller CAPE US Equities ETF	6.13%
DLUX DoubleLine Ultrashort Income ETF	1.22%

Correlation

The correlation between DCPE and DLUX is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 1, 2026	-0.07

Return for Risk

DCPE vs. DLUX — Risk / Return Rank

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

DCPE

DCPE Risk / Return Rank: 14
DCPE Sharpe Ratio Rank: 15
DCPE Sortino Ratio Rank: 13
DCPE Omega Ratio Rank: 13
DCPE Calmar Ratio Rank: 14
DCPE Martin Ratio Rank: 17

DLUX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

DCPE vs. DLUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Shiller CAPE US Equities ETF (DCPE) and DoubleLine Ultrashort Income ETF (DLUX). 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	DLUX	Difference
Sharpe ratio: Return per unit of total volatility	0.30	—	—
Sortino ratio: Return per unit of downside risk	0.51	—	—
Omega ratio: Gain probability vs. loss probability	1.06	—	—
Calmar ratio: Return relative to maximum drawdown	0.35	—	—
Martin ratio: Return relative to average drawdown	1.24	—	—

Drawdowns

DCPE vs. DLUX - Drawdown Comparison

The maximum DCPE drawdown since its inception was -22.07%, which is greater than DLUX's maximum drawdown of -0.13%. Use the drawdown chart below to compare losses from any high point for DCPE and DLUX.

Drawdown Indicators

	DCPE	DLUX	Difference
Max Drawdown Largest peak-to-trough decline	-22.07%	-0.13%	-21.94%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.32%	—	—
Current Drawdown Current decline from peak	-1.87%	-0.03%	-1.84%
Average Drawdown Average peak-to-trough decline	-4.85%	-0.03%	-4.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	—	—

Volatility

Volatility by Period

	DCPE	DLUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.19%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.36%	0.89%	+10.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.87%	0.89%	+15.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.87%	0.89%	+15.98%

DCPE vs. DLUX - Expense Ratio Comparison

DCPE has a 0.65% expense ratio, which is higher than DLUX's 0.18% expense ratio.

Dividends

DCPE vs. DLUX - Dividend Comparison

DCPE's dividend yield for the trailing twelve months is around 1.38%, more than DLUX's 0.80% yield.

Position	TTM	2025	2024	2023	2022
DCPE DoubleLine Shiller CAPE US Equities ETF	1.38%	1.39%	1.23%	1.01%	0.80%
DLUX DoubleLine Ultrashort Income ETF	0.80%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DCPE and DLUX in my portfolio?

DCPE and DLUX have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DCPE or DLUX?

On fees, DLUX is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DCPE or DLUX?

DLUX is cheaper with a 0.18% expense ratio, compared with 0.65% for DCPE.

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

DCPE has the higher dividend yield at 1.38%, compared with 0.80% for DLUX.

What is the main difference between DCPE and DLUX?

DCPE is categorized as Large Cap Value Equities, while DLUX is Ultrashort Bond. Their fees differ too: 0.65% for DCPE and 0.18% for DLUX.