DFLEX vs. CGMS
DFLEX (DoubleLine Flexible Income Fund) and CGMS (Capital Group U.S. Multi-Sector Income ETF) are both funds - DFLEX is a Nontraditional Bonds fund managed by DoubleLine, while CGMS is a Multisector Bonds fund actively managed by Capital Group. Over the past 3 years, DFLEX returned 7.07%/yr vs 7.55%/yr for CGMS. Their 0.59 correlation means they have sometimes moved together and sometimes differently. DFLEX charges 0.74%/yr vs 0.39%/yr for CGMS.
Performance
DFLEX vs. CGMS - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with DFLEX having a 1.38% return and CGMS slightly lower at 1.37%.
DFLEX
- 1D
- -0.57%
- 1M
- -0.46%
- 6M
- 0.85%
- YTD
- 1.38%
- 1Y
- 3.82%
- 3Y*
- 7.07%
- 5Y*
- 3.00%
- 10Y*
- 3.54%
- ALL TIME*
- 3.44%
CGMS
- 1D
- 0.26%
- 1M
- -0.55%
- 6M
- 0.78%
- YTD
- 1.37%
- 1Y
- 4.24%
- 3Y*
- 7.55%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $35.92M | $28.81M | $28.68M | |
| $0.00 | $0.00 | $0.00 |
DFLEX vs. CGMS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DFLEX DoubleLine Flexible Income Fund | 1.38% | 6.58% | 8.65% | 7.84% | 2.00% |
CGMS Capital Group U.S. Multi-Sector Income ETF | 1.37% | 7.52% | 7.24% | 11.51% | 2.77% |
Correlation
The correlation between DFLEX and CGMS is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2022 | 0.59 |
The correlation between DFLEX and CGMS has been stable across timeframes, ranging from 0.59 to 0.67 - a consistent structural relationship.
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Return for Risk
DFLEX vs. CGMS — Risk / Return Rank
DFLEX
CGMS
DFLEX vs. CGMS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Flexible Income Fund (DFLEX) and Capital Group U.S. Multi-Sector Income ETF (CGMS). 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.
| DFLEX | CGMS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.55 | ||
| Sortino ratioReturn per unit of downside risk | +2.27 | ||
| Omega ratioGain probability vs. loss probability | 1.75 | 1.22 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 4.61 | 1.72 | +2.88 |
| Martin ratioReturn relative to average drawdown | 19.99 | 7.25 | +12.74 |
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Drawdowns
DFLEX vs. CGMS - Drawdown Comparison
The maximum DFLEX drawdown since its inception was -17.29%, which is greater than CGMS's maximum drawdown of -4.08%. Use the drawdown chart below to compare losses from any high point for DFLEX and CGMS.
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Drawdown Indicators
| DFLEX | CGMS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.29% | -4.08% | -13.21% |
Max Drawdown (1Y)Largest decline over 1 year | -0.91% | -2.47% | +1.56% |
Max Drawdown (3Y)Largest decline over 3 years | -1.15% | -4.08% | +2.93% |
Max Drawdown (5Y)Largest decline over 5 years | -11.00% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.29% | — | — |
Current DrawdownCurrent decline from peak | -0.57% | -0.62% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -1.53% | -0.66% | -0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.59% | -0.38% |
Volatility
DFLEX vs. CGMS - Volatility Comparison
The current volatility for DoubleLine Flexible Income Fund (DFLEX) is 0.70%, while Capital Group U.S. Multi-Sector Income ETF (CGMS) has a volatility of 0.83%. This indicates that DFLEX experiences smaller price fluctuations and is considered to be less risky than CGMS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFLEX | CGMS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 0.83% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 1.26% | 2.86% | -1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.51% | 3.48% | -1.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.96% | 5.07% | -3.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.74% | 5.07% | -2.33% |
DFLEX vs. CGMS - Expense Ratio Comparison
DFLEX has a 0.74% expense ratio, which is higher than CGMS's 0.39% expense ratio.
Dividends
DFLEX vs. CGMS - Dividend Comparison
DFLEX's dividend yield for the trailing twelve months is around 5.08%, less than CGMS's 6.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGMS Capital Group U.S. Multi-Sector Income ETF | 6.09% | 6.00% | 5.91% | 5.84% | 0.97% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DFLEX DoubleLine Flexible Income Fund | 5.08% | 5.68% | 6.05% | 5.95% | 4.72% | 3.86% | 3.96% | 4.46% | 4.46% | 3.82% | 3.75% | 4.32% |
Frequently Asked Questions
DFLEX and CGMS have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CGMS has higher volatility (0.83%) compared to DFLEX (0.70%). In terms of maximum drawdown, DFLEX dropped -17.29% vs CGMS's -4.08%.
DFLEX currently has the higher Sharpe Ratio (2.78 vs 1.23), 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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