DLFNX vs. DLY
DLFNX (DoubleLine Core Fixed Income Fund) and DLY (DoubleLine Yield Opportunities Fund) are both mutual funds - DLFNX is a Intermediate Core-Plus Bond fund managed by DoubleLine, while DLY is a Multisector Bonds fund actively managed by DoubleLine. Over the past 5 years, DLFNX returned 0.29%/yr vs 1.85%/yr for DLY. At a 0.22 correlation, their price movements are largely independent. DLFNX charges 0.73%/yr vs 2.91%/yr for DLY.
Performance
DLFNX vs. DLY - Performance Comparison
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Returns By Period
In the year-to-date period, DLFNX achieves a -0.42% return, which is significantly higher than DLY's -0.70% return.
DLFNX
- 1D
- -0.33%
- 1M
- 0.35%
- YTD
- -0.42%
- 6M
- -0.19%
- 1Y
- 3.34%
- 3Y*
- 4.18%
- 5Y*
- 0.29%
- 10Y*
- 1.68%
DLY
- 1D
- 0.07%
- 1M
- -0.68%
- YTD
- -0.70%
- 6M
- -0.15%
- 1Y
- -2.21%
- 3Y*
- 8.13%
- 5Y*
- 1.85%
- 10Y*
- —
DLFNX vs. DLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DLFNX DoubleLine Core Fixed Income Fund | -0.42% | 7.28% | 2.77% | 6.18% | -13.08% | -0.50% | 2.68% |
DLY DoubleLine Yield Opportunities Fund | -0.70% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -1.90% |
Correlation
The correlation between DLFNX and DLY is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2020 | 0.22 |
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Return for Risk
DLFNX vs. DLY — Risk / Return Rank
DLFNX
DLY
DLFNX vs. DLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Core Fixed Income Fund (DLFNX) 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.
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.
| DLFNX | DLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.96 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | -0.25 | +1.50 |
| Martin ratioReturn relative to average drawdown | 3.48 | -0.62 | +4.10 |
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Drawdowns
DLFNX vs. DLY - Drawdown Comparison
The maximum DLFNX drawdown since its inception was -17.33%, smaller than the maximum DLY drawdown of -28.61%. Use the drawdown chart below to compare losses from any high point for DLFNX and DLY.
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Drawdown Indicators
| DLFNX | DLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.33% | -28.61% | +11.28% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -8.74% | +5.78% |
Max Drawdown (3Y)Largest decline over 3 years | -6.01% | -10.81% | +4.80% |
Max Drawdown (5Y)Largest decline over 5 years | -17.33% | -28.61% | +11.28% |
Max Drawdown (10Y)Largest decline over 10 years | -17.33% | — | — |
Current DrawdownCurrent decline from peak | -1.98% | -4.79% | +2.81% |
Average DrawdownAverage peak-to-trough decline | -2.73% | -7.79% | +5.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 3.56% | -2.50% |
Volatility
DLFNX vs. DLY - Volatility Comparison
The current volatility for DoubleLine Core Fixed Income Fund (DLFNX) is 1.29%, while DoubleLine Yield Opportunities Fund (DLY) has a volatility of 1.62%. This indicates that DLFNX 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
| DLFNX | DLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 1.62% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 6.87% | -4.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.67% | 8.14% | -4.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.26% | 13.58% | -8.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.31% | 15.00% | -10.69% |
DLFNX vs. DLY - Expense Ratio Comparison
DLFNX has a 0.73% expense ratio, which is lower than DLY's 2.91% expense ratio.
Dividends
DLFNX vs. DLY - Dividend Comparison
DLFNX's dividend yield for the trailing twelve months is around 4.57%, less than DLY's 10.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLFNX DoubleLine Core Fixed Income Fund | 4.57% | 4.62% | 4.96% | 4.41% | 3.72% | 2.87% | 2.92% | 3.17% | 3.10% | 2.65% | 2.71% | 3.34% |
DLY DoubleLine Yield Opportunities Fund | 10.18% | 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
DLFNX and DLY have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DLY has higher volatility (1.62%) compared to DLFNX (1.29%). In terms of maximum drawdown, DLFNX dropped -17.33% vs DLY's -28.61%.
DLFNX currently has the higher Sharpe Ratio (1.01 vs -0.27), 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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