DFLEX vs. DBLIX

Last updated Jun 3, 2026

DFLEX (DoubleLine Flexible Income Fund) and DBLIX (DoubleLine Income Fund) are both mutual funds - DFLEX is a Nontraditional Bonds fund managed by DoubleLine, while DBLIX is a Multisector Bonds fund managed by DoubleLine. A 0.59 correlation means they provide meaningful diversification when combined. DFLEX charges 0.74%/yr vs 0.65%/yr for DBLIX.

Performance

DFLEX vs. DBLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Flexible Income Fund (DFLEX) and DoubleLine Income Fund (DBLIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DFLEX

• 1D: 0.00%
• 1M: 0.34%
• YTD: 1.61%
• 6M: 2.06%
• 1Y: 5.66%
• 3Y*: 7.49%
• 5Y*: 3.21%
• 10Y*: 3.75%

DBLIX

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

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

DFLEX vs. DBLIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DFLEX DoubleLine Flexible Income Fund	1.61%	6.58%	8.65%	7.84%	-8.48%	3.79%	2.93%	1.31%
DBLIX DoubleLine Income Fund	0.48%	6.49%	10.61%	9.69%	-13.31%	5.72%	-5.09%	0.39%

Correlation

The correlation between DFLEX and DBLIX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Sep 5, 2019	0.59

Over the past year, the correlation between DFLEX and DBLIX has dropped to 0.34 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

Return for Risk

DFLEX vs. DBLIX — Risk / Return Rank

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

DFLEX

DFLEX Risk / Return Rank: 98
DFLEX Sharpe Ratio Rank: 99
DFLEX Sortino Ratio Rank: 99
DFLEX Omega Ratio Rank: 98
DFLEX Calmar Ratio Rank: 96
DFLEX Martin Ratio Rank: 98

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.

DFLEX vs. DBLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Flexible Income Fund (DFLEX) and DoubleLine Income Fund (DBLIX). 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.

	DFLEX	DBLIX	Difference
Sharpe ratio Return per unit of total volatility	4.44	—	—
Sortino ratio Return per unit of downside risk	7.91	—	—
Omega ratio Gain probability vs. loss probability	2.38	—	—
Calmar ratio Return relative to maximum drawdown	6.43	—	—
Martin ratio Return relative to average drawdown	29.12	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DFLEX	DBLIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.44	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.67	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.39	—	—

Drawdowns

Drawdown Indicators

	DFLEX	DBLIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.29%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-0.91%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.15%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.00%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-17.29%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-1.56%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.20%	—	—

Volatility

Volatility by Period

	DFLEX	DBLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.46%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.99%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.31%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.93%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.73%	—	—

DFLEX vs. DBLIX - Expense Ratio Comparison

DFLEX has a 0.74% expense ratio, which is higher than DBLIX's 0.65% expense ratio.

Dividends

DFLEX vs. DBLIX - Dividend Comparison

DFLEX's dividend yield for the trailing twelve months is around 5.54%, more than DBLIX's 4.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBLIX DoubleLine Income Fund	4.11%	6.33%	6.32%	7.44%	5.45%	4.76%	4.10%	1.30%	0.00%	0.00%	0.00%	0.00%
DFLEX DoubleLine Flexible Income Fund	5.54%	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

Can I hold both DFLEX and DBLIX in my portfolio?

DFLEX and DBLIX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.