DLSNX vs. VFSTX

Last updated Jun 23, 2026

DLSNX (DoubleLine Low Duration Bond Fund Class N) and VFSTX (Vanguard Short-Term Investment-Grade Fund Investor Shares) are both mutual funds - DLSNX is a Short-Term Bond fund actively managed by DoubleLine, while VFSTX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, DLSNX returned 2.59%/yr vs 2.50%/yr for VFSTX. A 0.54 correlation means they provide meaningful diversification when combined. DLSNX charges 0.70%/yr vs 0.20%/yr for VFSTX.

Performance

DLSNX vs. VFSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Low Duration Bond Fund Class N (DLSNX) and Vanguard Short-Term Investment-Grade Fund Investor Shares (VFSTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLSNX achieves a 1.07% return, which is significantly higher than VFSTX's 0.48% return. Both investments have delivered pretty close results over the past 10 years, with DLSNX having a 2.59% annualized return and VFSTX not far behind at 2.50%.

DLSNX

• 1D: 0.10%
• 1M: 0.33%
• YTD: 1.07%
• 6M: 1.14%
• 1Y: 3.93%
• 3Y*: 5.22%
• 5Y*: 2.93%
• 10Y*: 2.59%

VFSTX

• 1D: 0.10%
• 1M: 0.30%
• YTD: 0.48%
• 6M: 0.86%
• 1Y: 4.28%
• 3Y*: 5.52%
• 5Y*: 2.28%
• 10Y*: 2.50%

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

DLSNX vs. VFSTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DLSNX DoubleLine Low Duration Bond Fund Class N	1.07%	5.49%	5.06%	6.50%	-3.04%	0.56%	1.76%	4.47%	1.15%	2.30%
VFSTX Vanguard Short-Term Investment-Grade Fund Investor Shares	0.48%	6.75%	4.98%	6.06%	-5.84%	-0.70%	5.16%	5.75%	0.87%	2.02%

Correlation

The correlation between DLSNX and VFSTX is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Oct 6, 2011	0.54

The correlation between DLSNX and VFSTX shifts across timeframes, from 0.54 (all time) to 0.74 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DLSNX vs. VFSTX — Risk / Return Rank

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

DLSNX

DLSNX Risk / Return Rank: 97
DLSNX Sharpe Ratio Rank: 98
DLSNX Sortino Ratio Rank: 97
DLSNX Omega Ratio Rank: 97
DLSNX Calmar Ratio Rank: 96
DLSNX Martin Ratio Rank: 97

VFSTX

VFSTX Risk / Return Rank: 57
VFSTX Sharpe Ratio Rank: 47
VFSTX Sortino Ratio Rank: 73
VFSTX Omega Ratio Rank: 68
VFSTX Calmar Ratio Rank: 48
VFSTX Martin Ratio Rank: 50

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.

DLSNX vs. VFSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Low Duration Bond Fund Class N (DLSNX) and Vanguard Short-Term Investment-Grade Fund Investor Shares (VFSTX). 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.

	DLSNX	VFSTX	Difference
Sharpe ratio: Return per unit of total volatility	3.44	1.86	+1.58
Sortino ratio: Return per unit of downside risk	5.57	3.23	+2.34
Omega ratio: Gain probability vs. loss probability	1.95	1.42	+0.54
Calmar ratio: Return relative to maximum drawdown	5.61	2.52	+3.09
Martin ratio: Return relative to average drawdown	26.49	9.67	+16.82

DLSNX vs. VFSTX - Sharpe Ratio Comparison

The current DLSNX Sharpe Ratio is 3.44, which is higher than the VFSTX Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of DLSNX and VFSTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DLSNX vs. VFSTX - Drawdown Comparison

The maximum DLSNX drawdown since its inception was -7.46%, smaller than the maximum VFSTX drawdown of -9.35%. Use the drawdown chart below to compare losses from any high point for DLSNX and VFSTX.

Drawdown Indicators

	DLSNX	VFSTX	Difference
Max Drawdown Largest peak-to-trough decline	-7.46%	-9.35%	+1.89%
Max Drawdown (1Y) Largest decline over 1 year	-0.72%	-1.71%	+0.99%
Max Drawdown (3Y) Largest decline over 3 years	-0.72%	-1.71%	+0.99%
Max Drawdown (5Y) Largest decline over 5 years	-4.91%	-9.35%	+4.44%
Max Drawdown (10Y) Largest decline over 10 years	-7.46%	-9.35%	+1.89%
Current Drawdown Current decline from peak	-0.10%	-0.55%	+0.45%
Average Drawdown Average peak-to-trough decline	-0.41%	-1.12%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.15%	0.44%	-0.29%

Volatility

DLSNX vs. VFSTX - Volatility Comparison

The current volatility for DoubleLine Low Duration Bond Fund Class N (DLSNX) is 0.36%, while Vanguard Short-Term Investment-Grade Fund Investor Shares (VFSTX) has a volatility of 0.79%. This indicates that DLSNX experiences smaller price fluctuations and is considered to be less risky than VFSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLSNX	VFSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.36%	0.79%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	0.89%	1.71%	-0.82%
Volatility (1Y) Calculated over the trailing 1-year period	1.18%	2.31%	-1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.42%	2.98%	-1.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.57%	2.48%	-0.91%

DLSNX vs. VFSTX - Expense Ratio Comparison

DLSNX has a 0.70% expense ratio, which is higher than VFSTX's 0.20% expense ratio.

Dividends

DLSNX vs. VFSTX - Dividend Comparison

DLSNX's dividend yield for the trailing twelve months is around 4.30%, less than VFSTX's 4.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLSNX DoubleLine Low Duration Bond Fund Class N	4.30%	4.40%	4.85%	4.25%	2.24%	1.47%	2.12%	2.96%	2.67%	2.18%	2.27%	2.22%
VFSTX Vanguard Short-Term Investment-Grade Fund Investor Shares	4.62%	4.48%	4.06%	3.05%	1.93%	1.70%	2.24%	2.83%	2.68%	2.00%	2.04%	1.99%

Frequently Asked Questions

Can I hold both DLSNX and VFSTX in my portfolio?

DLSNX and VFSTX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DLSNX or VFSTX?

VFSTX has higher volatility (0.79%) compared to DLSNX (0.36%). In terms of maximum drawdown, DLSNX dropped -7.46% vs VFSTX's -9.35%.

Which has better risk-adjusted returns?

DLSNX currently has the higher Sharpe Ratio (3.44 vs 1.86), 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.