DFLEX vs. VFSUX

Last updated Jun 5, 2026

DFLEX (DoubleLine Flexible Income Fund) and VFSUX (Vanguard Short-Term Investment-Grade Fund Admiral Shares) are both mutual funds - DFLEX is a Nontraditional Bonds fund managed by DoubleLine, while VFSUX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, DFLEX returned 3.74%/yr vs 2.63%/yr for VFSUX. A 0.52 correlation means they provide meaningful diversification when combined. DFLEX charges 0.74%/yr vs 0.10%/yr for VFSUX.

Performance

DFLEX vs. VFSUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Flexible Income Fund (DFLEX) and Vanguard Short-Term Investment-Grade Fund Admiral Shares (VFSUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFLEX achieves a 1.49% return, which is significantly higher than VFSUX's 0.72% return. Over the past 10 years, DFLEX has outperformed VFSUX with an annualized return of 3.74%, while VFSUX has yielded a comparatively lower 2.63% annualized return.

DFLEX

• 1D: -0.11%
• 1M: 0.22%
• YTD: 1.49%
• 6M: 1.82%
• 1Y: 5.41%
• 3Y*: 7.45%
• 5Y*: 3.18%
• 10Y*: 3.74%

VFSUX

• 1D: -0.10%
• 1M: 0.21%
• YTD: 0.72%
• 6M: 1.11%
• 1Y: 4.50%
• 3Y*: 5.60%
• 5Y*: 2.37%
• 10Y*: 2.63%

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

DFLEX vs. VFSUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFLEX DoubleLine Flexible Income Fund	1.49%	6.58%	8.65%	7.84%	-8.48%	3.79%	2.93%	7.21%	0.10%	5.27%
VFSUX Vanguard Short-Term Investment-Grade Fund Admiral Shares	0.72%	6.87%	5.08%	6.17%	-5.75%	-0.62%	5.26%	5.85%	0.98%	2.13%

Correlation

The correlation between DFLEX and VFSUX is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.56
Correlation (All Time) Calculated using the full available price history since Apr 9, 2014	0.52

The correlation between DFLEX and VFSUX shifts across timeframes, from 0.52 (all time) to 0.65 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DFLEX vs. VFSUX — 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: 98
DFLEX Omega Ratio Rank: 98
DFLEX Calmar Ratio Rank: 96
DFLEX Martin Ratio Rank: 97

VFSUX

VFSUX Risk / Return Rank: 59
VFSUX Sharpe Ratio Rank: 48
VFSUX Sortino Ratio Rank: 74
VFSUX Omega Ratio Rank: 67
VFSUX Calmar Ratio Rank: 52
VFSUX Martin Ratio Rank: 54

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. VFSUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Flexible Income Fund (DFLEX) and Vanguard Short-Term Investment-Grade Fund Admiral Shares (VFSUX). 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	VFSUX	Difference
Sharpe ratio: Return per unit of total volatility	4.24	2.03	+2.21
Sortino ratio: Return per unit of downside risk	7.49	3.61	+3.87
Omega ratio: Gain probability vs. loss probability	2.29	1.46	+0.83
Calmar ratio: Return relative to maximum drawdown	6.10	2.77	+3.33
Martin ratio: Return relative to average drawdown	27.53	10.93	+16.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFLEX vs. VFSUX - Sharpe Ratio Comparison

The current DFLEX Sharpe Ratio is 4.24, which is higher than the VFSUX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of DFLEX and VFSUX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DFLEX	VFSUX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.24	2.03	+2.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.66	0.80	+0.86
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.37	1.06	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	1.38	1.34	+0.04

Drawdowns

DFLEX vs. VFSUX - Drawdown Comparison

The maximum DFLEX drawdown since its inception was -17.29%, which is greater than VFSUX's maximum drawdown of -9.24%. Use the drawdown chart below to compare losses from any high point for DFLEX and VFSUX.

Drawdown Indicators

	DFLEX	VFSUX	Difference
Max Drawdown Largest peak-to-trough decline	-17.29%	-9.24%	-8.05%
Max Drawdown (1Y) Largest decline over 1 year	-0.91%	-1.71%	+0.80%
Max Drawdown (3Y) Largest decline over 3 years	-1.15%	-1.71%	+0.56%
Max Drawdown (5Y) Largest decline over 5 years	-11.00%	-9.24%	-1.76%
Max Drawdown (10Y) Largest decline over 10 years	-17.29%	-9.24%	-8.05%
Current Drawdown Current decline from peak	-0.11%	-0.33%	+0.22%
Average Drawdown Average peak-to-trough decline	-1.55%	-0.87%	-0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.20%	0.43%	-0.23%

Volatility

DFLEX vs. VFSUX - Volatility Comparison

The current volatility for DoubleLine Flexible Income Fund (DFLEX) is 0.45%, while Vanguard Short-Term Investment-Grade Fund Admiral Shares (VFSUX) has a volatility of 0.75%. This indicates that DFLEX experiences smaller price fluctuations and is considered to be less risky than VFSUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFLEX	VFSUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.45%	0.75%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	1.00%	1.66%	-0.66%
Volatility (1Y) Calculated over the trailing 1-year period	1.31%	2.33%	-1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.93%	2.99%	-1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.73%	2.49%	+0.24%

DFLEX vs. VFSUX - Expense Ratio Comparison

DFLEX has a 0.74% expense ratio, which is higher than VFSUX's 0.10% expense ratio.

Dividends

DFLEX vs. VFSUX - Dividend Comparison

DFLEX's dividend yield for the trailing twelve months is around 5.54%, more than VFSUX's 4.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VFSUX Vanguard Short-Term Investment-Grade Fund Admiral Shares	4.72%	4.59%	4.16%	3.14%	2.03%	1.79%	2.34%	2.92%	2.79%	2.11%	2.14%	2.09%

Frequently Asked Questions

Can I hold both DFLEX and VFSUX in my portfolio?

DFLEX and VFSUX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFLEX or VFSUX?

VFSUX has higher volatility (0.75%) compared to DFLEX (0.45%). In terms of maximum drawdown, DFLEX dropped -17.29% vs VFSUX's -9.24%.

Which has better risk-adjusted returns?

DFLEX currently has the higher Sharpe Ratio (4.24 vs 2.03), 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.