DLTNX vs. DBLFX

Last updated Jun 6, 2026

DLTNX (DoubleLine Total Return Bond Fund Class N) and DBLFX (DoubleLine Core Fixed Income Fund) are both Intermediate Core-Plus Bond funds from DoubleLine. Over the past 10 years, DLTNX returned 1.55%/yr vs 2.03%/yr for DBLFX. Their correlation of 0.90 suggests significant overlap in exposure. DLTNX charges 0.75%/yr vs 0.47%/yr for DBLFX.

Performance

DLTNX vs. DBLFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Total Return Bond Fund Class N (DLTNX) and DoubleLine Core Fixed Income Fund (DBLFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLTNX achieves a 0.02% return, which is significantly higher than DBLFX's -0.09% return. Over the past 10 years, DLTNX has underperformed DBLFX with an annualized return of 1.55%, while DBLFX has yielded a comparatively higher 2.03% annualized return.

DLTNX

• 1D: 0.23%
• 1M: -0.42%
• YTD: 0.02%
• 6M: 0.32%
• 1Y: 4.79%
• 3Y*: 4.32%
• 5Y*: 0.35%
• 10Y*: 1.55%

DBLFX

• 1D: 0.11%
• 1M: -0.39%
• YTD: -0.09%
• 6M: 0.38%
• 1Y: 4.51%
• 3Y*: 4.63%
• 5Y*: 0.60%
• 10Y*: 2.03%

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

DLTNX vs. DBLFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DLTNX DoubleLine Total Return Bond Fund Class N	0.02%	7.66%	2.94%	4.96%	-12.77%	-0.01%	3.87%	5.74%	1.50%	3.44%
DBLFX DoubleLine Core Fixed Income Fund	-0.09%	7.54%	3.04%	6.44%	-12.76%	-0.34%	5.61%	7.99%	-0.01%	4.66%

Correlation

The correlation between DLTNX and DBLFX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 2, 2010	0.90

The correlation between DLTNX and DBLFX has been stable across timeframes, ranging from 0.90 to 0.97 - a consistent structural relationship.

Return for Risk

DLTNX vs. DBLFX — Risk / Return Rank

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

DLTNX

DLTNX Risk / Return Rank: 19
DLTNX Sharpe Ratio Rank: 20
DLTNX Sortino Ratio Rank: 21
DLTNX Omega Ratio Rank: 20
DLTNX Calmar Ratio Rank: 18
DLTNX Martin Ratio Rank: 17

DBLFX

DBLFX Risk / Return Rank: 19
DBLFX Sharpe Ratio Rank: 20
DBLFX Sortino Ratio Rank: 20
DBLFX Omega Ratio Rank: 19
DBLFX Calmar Ratio Rank: 19
DBLFX Martin Ratio Rank: 17

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.

DLTNX vs. DBLFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Total Return Bond Fund Class N (DLTNX) and DoubleLine Core Fixed Income Fund (DBLFX). 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.

	DLTNX	DBLFX	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.22	0.00
Sortino ratio: Return per unit of downside risk	1.82	1.80	+0.02
Omega ratio: Gain probability vs. loss probability	1.22	1.22	0.00
Calmar ratio: Return relative to maximum drawdown	1.42	1.51	-0.09
Martin ratio: Return relative to average drawdown	4.38	4.54	-0.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DLTNX vs. DBLFX - Sharpe Ratio Comparison

The current DLTNX Sharpe Ratio is 1.22, which is comparable to the DBLFX Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of DLTNX and DBLFX, 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

	DLTNX	DBLFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	1.22	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.12	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.48	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.86	-0.01

Drawdowns

DLTNX vs. DBLFX - Drawdown Comparison

The maximum DLTNX drawdown since its inception was -16.94%, roughly equal to the maximum DBLFX drawdown of -17.09%. Use the drawdown chart below to compare losses from any high point for DLTNX and DBLFX.

Drawdown Indicators

	DLTNX	DBLFX	Difference
Max Drawdown Largest peak-to-trough decline	-16.94%	-17.09%	+0.15%
Max Drawdown (1Y) Largest decline over 1 year	-3.21%	-2.92%	-0.29%
Max Drawdown (3Y) Largest decline over 3 years	-6.65%	-6.05%	-0.60%
Max Drawdown (5Y) Largest decline over 5 years	-16.94%	-17.09%	+0.15%
Max Drawdown (10Y) Largest decline over 10 years	-16.94%	-17.09%	+0.15%
Current Drawdown Current decline from peak	-1.96%	-1.70%	-0.26%
Average Drawdown Average peak-to-trough decline	-2.54%	-2.57%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	0.97%	+0.07%

Volatility

DLTNX vs. DBLFX - Volatility Comparison

DoubleLine Total Return Bond Fund Class N (DLTNX) and DoubleLine Core Fixed Income Fund (DBLFX) have volatilities of 1.38% and 1.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLTNX	DBLFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	1.37%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.67%	2.70%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	3.78%	3.66%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.52%	5.24%	+0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.36%	4.29%	+0.07%

DLTNX vs. DBLFX - Expense Ratio Comparison

DLTNX has a 0.75% expense ratio, which is higher than DBLFX's 0.47% expense ratio.

Dividends

DLTNX vs. DBLFX - Dividend Comparison

DLTNX's dividend yield for the trailing twelve months is around 4.63%, less than DBLFX's 4.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBLFX DoubleLine Core Fixed Income Fund	4.81%	4.87%	5.22%	4.66%	3.99%	3.12%	3.17%	3.42%	3.35%	2.90%	2.95%	3.59%
DLTNX DoubleLine Total Return Bond Fund Class N	4.63%	4.62%	4.77%	4.11%	3.59%	2.87%	3.13%	3.49%	3.48%	3.40%	3.47%	3.85%

Frequently Asked Questions

Can I hold both DLTNX and DBLFX in my portfolio?

With a correlation of 0.95, DLTNX and DBLFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DLTNX or DBLFX?

DLTNX has higher volatility (1.38%) compared to DBLFX (1.37%). In terms of maximum drawdown, DLTNX dropped -16.94% vs DBLFX's -17.09%.

Which has better risk-adjusted returns?

DLTNX currently has the higher Sharpe Ratio (1.22 vs 1.22), 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.