DFLEX vs. WAVLX
Compare and contrast key facts about DoubleLine Flexible Income Fund (DFLEX) and Wavelength Interest Rate Neutral Fund (WAVLX).
DFLEX is managed by DoubleLine. It was launched on Apr 6, 2014. WAVLX is managed by Wavelength Funds. It was launched on Sep 29, 2013.
Performance
DFLEX vs. WAVLX - Performance Comparison
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DFLEX vs. WAVLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFLEX DoubleLine Flexible Income Fund | 0.22% | 6.58% | 8.65% | 7.84% | -8.48% | 3.79% | 2.93% | 7.21% | 0.10% | 5.27% |
WAVLX Wavelength Interest Rate Neutral Fund | -0.56% | 9.86% | 5.21% | 7.02% | -11.34% | 1.72% | 8.29% | 13.07% | -1.46% | 5.59% |
Returns By Period
In the year-to-date period, DFLEX achieves a 0.22% return, which is significantly higher than WAVLX's -0.56% return. Both investments have delivered pretty close results over the past 10 years, with DFLEX having a 3.79% annualized return and WAVLX not far ahead at 3.96%.
DFLEX
- 1D
- 0.11%
- 1M
- -0.80%
- YTD
- 0.22%
- 6M
- 1.54%
- 1Y
- 5.12%
- 3Y*
- 7.13%
- 5Y*
- 3.19%
- 10Y*
- 3.79%
WAVLX
- 1D
- 0.20%
- 1M
- -2.72%
- YTD
- -0.56%
- 6M
- 0.71%
- 1Y
- 7.46%
- 3Y*
- 6.19%
- 5Y*
- 2.42%
- 10Y*
- 3.96%
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DFLEX vs. WAVLX - Expense Ratio Comparison
DFLEX has a 0.74% expense ratio, which is lower than WAVLX's 0.99% expense ratio.
Return for Risk
DFLEX vs. WAVLX — Risk / Return Rank
DFLEX
WAVLX
DFLEX vs. WAVLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Flexible Income Fund (DFLEX) and Wavelength Interest Rate Neutral Fund (WAVLX). 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 | WAVLX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.69 | 1.29 | +2.40 |
Sortino ratioReturn per unit of downside risk | 6.09 | 1.85 | +4.24 |
Omega ratioGain probability vs. loss probability | 2.08 | 1.28 | +0.80 |
Calmar ratioReturn relative to maximum drawdown | 4.58 | 1.64 | +2.95 |
Martin ratioReturn relative to average drawdown | 20.46 | 8.20 | +12.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DFLEX | WAVLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.69 | 1.29 | +2.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.67 | 0.44 | +1.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.39 | 0.75 | +0.64 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.35 | 0.60 | +0.75 |
Correlation
The correlation between DFLEX and WAVLX is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
DFLEX vs. WAVLX - Dividend Comparison
DFLEX's dividend yield for the trailing twelve months is around 5.14%, more than WAVLX's 3.65% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFLEX DoubleLine Flexible Income Fund | 5.14% | 5.68% | 6.05% | 5.95% | 4.72% | 3.86% | 3.96% | 4.46% | 4.46% | 3.82% | 3.75% | 4.32% |
WAVLX Wavelength Interest Rate Neutral Fund | 3.65% | 3.67% | 4.41% | 4.83% | 3.63% | 2.83% | 2.21% | 4.96% | 2.65% | 2.09% | 2.13% | 2.18% |
Drawdowns
DFLEX vs. WAVLX - Drawdown Comparison
The maximum DFLEX drawdown since its inception was -17.29%, which is greater than WAVLX's maximum drawdown of -14.39%. Use the drawdown chart below to compare losses from any high point for DFLEX and WAVLX.
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Drawdown Indicators
| DFLEX | WAVLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.29% | -14.39% | -2.90% |
Max Drawdown (1Y)Largest decline over 1 year | -1.15% | -4.54% | +3.39% |
Max Drawdown (5Y)Largest decline over 5 years | -11.00% | -14.39% | +3.39% |
Max Drawdown (10Y)Largest decline over 10 years | -17.29% | -14.39% | -2.90% |
Current DrawdownCurrent decline from peak | -0.80% | -2.83% | +2.03% |
Average DrawdownAverage peak-to-trough decline | -1.58% | -3.02% | +1.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.26% | 0.91% | -0.65% |
Volatility
DFLEX vs. WAVLX - Volatility Comparison
The current volatility for DoubleLine Flexible Income Fund (DFLEX) is 0.56%, while Wavelength Interest Rate Neutral Fund (WAVLX) has a volatility of 1.99%. This indicates that DFLEX experiences smaller price fluctuations and is considered to be less risky than WAVLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFLEX | WAVLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.56% | 1.99% | -1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 0.91% | 3.00% | -2.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.40% | 5.83% | -4.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.92% | 5.55% | -3.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.73% | 5.28% | -2.55% |