DLENX vs. DLY
DLENX (DoubleLine Emerging Markets Fixed Income Fund Class N) and DLY (DoubleLine Yield Opportunities Fund) are both mutual funds - DLENX is a Emerging Markets Bonds fund actively managed by DoubleLine, while DLY is a Multisector Bonds fund actively managed by DoubleLine. Both are actively managed. Over the past 5 years, DLENX returned 1.93%/yr vs 2.07%/yr for DLY. At a 0.27 correlation, their price movements are largely independent. DLENX charges 1.18%/yr vs 2.91%/yr for DLY.
Performance
DLENX vs. DLY - Performance Comparison
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Returns By Period
In the year-to-date period, DLENX achieves a 1.27% return, which is significantly higher than DLY's -0.38% return.
DLENX
- 1D
- 0.11%
- 1M
- 0.34%
- YTD
- 1.27%
- 6M
- 1.61%
- 1Y
- 6.35%
- 3Y*
- 8.05%
- 5Y*
- 1.93%
- 10Y*
- 3.62%
DLY
- 1D
- -0.36%
- 1M
- -1.37%
- YTD
- -0.38%
- 6M
- 0.15%
- 1Y
- -2.54%
- 3Y*
- 9.10%
- 5Y*
- 2.07%
- 10Y*
- —
DLENX vs. DLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DLENX DoubleLine Emerging Markets Fixed Income Fund Class N | 1.27% | 8.11% | 7.92% | 9.36% | -15.50% | 1.71% | 2.77% |
DLY DoubleLine Yield Opportunities Fund | -0.38% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -3.06% |
Correlation
The correlation between DLENX and DLY is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2020 | 0.27 |
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Return for Risk
DLENX vs. DLY — Risk / Return Rank
DLENX
DLY
DLENX vs. DLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Emerging Markets Fixed Income Fund Class N (DLENX) and DoubleLine Yield Opportunities Fund (DLY). 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.
| DLENX | DLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.70 | ||
| Sortino ratioReturn per unit of downside risk | +5.46 | ||
| Omega ratioGain probability vs. loss probability | 1.80 | 0.95 | +0.85 |
| Calmar ratioReturn relative to maximum drawdown | 3.56 | -0.29 | +3.85 |
| Martin ratioReturn relative to average drawdown | 14.16 | -0.75 | +14.91 |
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
| DLENX | DLY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.39 | -0.32 | +3.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | 0.15 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.95 | 0.18 | +0.77 |
Drawdowns
DLENX vs. DLY - Drawdown Comparison
The maximum DLENX drawdown since its inception was -25.64%, smaller than the maximum DLY drawdown of -28.61%. Use the drawdown chart below to compare losses from any high point for DLENX and DLY.
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Drawdown Indicators
| DLENX | DLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.64% | -28.61% | +2.97% |
Max Drawdown (1Y)Largest decline over 1 year | -1.83% | -8.74% | +6.91% |
Max Drawdown (3Y)Largest decline over 3 years | -4.58% | -10.81% | +6.23% |
Max Drawdown (5Y)Largest decline over 5 years | -25.64% | -28.61% | +2.97% |
Max Drawdown (10Y)Largest decline over 10 years | -25.64% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -4.48% | +4.48% |
Average DrawdownAverage peak-to-trough decline | -3.61% | -7.82% | +4.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 3.40% | -2.94% |
Volatility
DLENX vs. DLY - Volatility Comparison
The current volatility for DoubleLine Emerging Markets Fixed Income Fund Class N (DLENX) is 0.68%, while DoubleLine Yield Opportunities Fund (DLY) has a volatility of 1.93%. This indicates that DLENX experiences smaller price fluctuations and is considered to be less risky than DLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DLENX | DLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 1.93% | -1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 1.43% | 6.85% | -5.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.92% | 8.09% | -6.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.55% | 13.57% | -9.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.65% | 15.05% | -10.40% |
DLENX vs. DLY - Expense Ratio Comparison
DLENX has a 1.18% expense ratio, which is lower than DLY's 2.91% expense ratio.
Dividends
DLENX vs. DLY - Dividend Comparison
DLENX's dividend yield for the trailing twelve months is around 5.31%, less than DLY's 10.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLENX DoubleLine Emerging Markets Fixed Income Fund Class N | 5.31% | 5.33% | 5.71% | 5.29% | 4.49% | 3.74% | 4.11% | 4.49% | 3.57% | 4.07% | 4.29% | 4.94% |
DLY DoubleLine Yield Opportunities Fund | 10.07% | 9.63% | 8.85% | 9.84% | 10.67% | 7.49% | 5.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DLENX and DLY have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DLY has higher volatility (1.93%) compared to DLENX (0.68%). In terms of maximum drawdown, DLENX dropped -25.64% vs DLY's -28.61%.
DLENX currently has the higher Sharpe Ratio (3.39 vs -0.32), 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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