DCRE vs. MMKT

Last updated Jul 21, 2026

DCRE (DoubleLine Commercial Real Estate ETF) and MMKT (Texas Capital Government Money Market ETF) are both exchange-traded funds - DCRE is a Short-Term Bond fund actively managed by DoubleLine, while MMKT is a Money Market fund actively managed by Texas Capital. Both are actively managed. Over the past year, DCRE returned 4.32% vs 3.74% for MMKT. At a 0.06 correlation, their price movements are largely independent. DCRE charges 0.40%/yr vs 0.20%/yr for MMKT.

Performance

DCRE vs. MMKT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Commercial Real Estate ETF (DCRE) and Texas Capital Government Money Market ETF (MMKT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DCRE having a 1.84% return and MMKT slightly higher at 1.89%.

DCRE

• 1D: -0.06%
• 1M: 0.34%
• 6M: 1.52%
• YTD: 1.84%
• 1Y: 4.32%
• 3Y*: 6.03%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.02%

MMKT

• 1D: 0.01%
• 1M: 0.27%
• 6M: 1.73%
• YTD: 1.89%
• 1Y: 3.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.01%

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

DCRE vs. MMKT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DCRE DoubleLine Commercial Real Estate ETF	1.84%	5.86%	0.63%
MMKT Texas Capital Government Money Market ETF	1.89%	4.13%	1.22%

Correlation

The correlation between DCRE and MMKT is 0.05, 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 (1Y) Calculated over the trailing 1-year period	0.05
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024	0.06

Return for Risk

DCRE vs. MMKT — Risk / Return Rank

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

DCRE

DCRE Risk / Return Rank: 97
DCRE Sharpe Ratio Rank: 97
DCRE Sortino Ratio Rank: 98
DCRE Omega Ratio Rank: 97
DCRE Calmar Ratio Rank: 96
DCRE Martin Ratio Rank: 96

MMKT

MMKT Risk / Return Rank: 100
MMKT Sharpe Ratio Rank: 100
MMKT Sortino Ratio Rank: 100
MMKT Omega Ratio Rank: 100
MMKT Calmar Ratio Rank: 100
MMKT Martin Ratio Rank: 100

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.

DCRE vs. MMKT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Commercial Real Estate ETF (DCRE) and Texas Capital Government Money Market ETF (MMKT). 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.

	DCRE	MMKT	Difference
Sharpe ratio: Return per unit of total volatility	3.66	16.79	-13.13
Sortino ratio: Return per unit of downside risk	6.34	62.64	-56.30
Omega ratio: Gain probability vs. loss probability	1.82	16.03	-14.21
Calmar ratio: Return relative to maximum drawdown	6.37	150.42	-144.06
Martin ratio: Return relative to average drawdown	23.02	907.31	-884.29

DCRE vs. MMKT - Sharpe Ratio Comparison

The current DCRE Sharpe Ratio is 3.66, which is lower than the MMKT Sharpe Ratio of 16.79. The chart below compares the historical Sharpe Ratios of DCRE and MMKT, 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

DCRE vs. MMKT - Drawdown Comparison

The maximum DCRE drawdown since its inception was -0.84%, which is greater than MMKT's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for DCRE and MMKT.

Drawdown Indicators

	DCRE	MMKT	Difference
Max Drawdown Largest peak-to-trough decline	-0.84%	-0.04%	-0.80%
Max Drawdown (1Y) Largest decline over 1 year	-0.68%	-0.02%	-0.66%
Max Drawdown (3Y) Largest decline over 3 years	-0.84%	—	—
Current Drawdown Current decline from peak	-0.12%	0.00%	-0.12%
Average Drawdown Average peak-to-trough decline	-0.11%	-0.00%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	0.00%	+0.19%

Volatility

DCRE vs. MMKT - Volatility Comparison

DoubleLine Commercial Real Estate ETF (DCRE) has a higher volatility of 0.40% compared to Texas Capital Government Money Market ETF (MMKT) at 0.05%. This indicates that DCRE's price experiences larger fluctuations and is considered to be riskier than MMKT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DCRE	MMKT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.40%	0.05%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	0.96%	0.13%	+0.83%
Volatility (1Y) Calculated over the trailing 1-year period	1.19%	0.22%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.58%	0.23%	+1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.58%	0.23%	+1.35%

DCRE vs. MMKT - Expense Ratio Comparison

DCRE has a 0.40% expense ratio, which is higher than MMKT's 0.20% expense ratio.

Dividends

DCRE vs. MMKT - Dividend Comparison

DCRE's dividend yield for the trailing twelve months is around 4.75%, more than MMKT's 3.67% yield.

Position	TTM	2025	2024	2023
DCRE DoubleLine Commercial Real Estate ETF	4.75%	4.84%	5.52%	3.47%
MMKT Texas Capital Government Money Market ETF	3.67%	3.98%	1.07%	0.00%

Frequently Asked Questions

Can I hold both DCRE and MMKT in my portfolio?

DCRE and MMKT have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DCRE or MMKT?

DCRE has higher volatility (0.40%) compared to MMKT (0.05%). In terms of maximum drawdown, DCRE dropped -0.84% vs MMKT's -0.04%.

Which ETF is better, DCRE or MMKT?

On 1-year performance, DCRE leads with 4.32% vs 3.74% for MMKT. On fees, MMKT is cheaper at 0.20% per year. On volatility, MMKT has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DCRE or MMKT?

Over the 1-year period, DCRE has performed better with a 4.32% return vs 3.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DCRE or MMKT?

MMKT is cheaper with a 0.20% expense ratio, compared with 0.40% for DCRE.

Which ETF pays a higher dividend yield, DCRE or MMKT?

DCRE has the higher dividend yield at 4.75%, compared with 3.67% for MMKT.

What is the main difference between DCRE and MMKT?

DCRE is categorized as Short-Term Bond, while MMKT is Money Market. They also come from different issuers: DoubleLine and Texas Capital. Their fees differ too: 0.40% for DCRE and 0.20% for MMKT.

Which has better risk-adjusted returns?

MMKT currently has the higher Sharpe Ratio (16.79 vs 3.66), 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.