DLY vs. AM
DLY (DoubleLine Yield Opportunities Fund) is Multisector Bonds fund actively managed by DoubleLine, while AM (Antero Midstream Corporation) is a stock. Over the past 5 years, DLY returned 1.84%/yr vs 23.97%/yr for AM. At a 0.21 correlation, their price movements are largely independent.
Performance
DLY vs. AM - Performance Comparison
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Returns By Period
In the year-to-date period, DLY achieves a -0.52% return, which is significantly lower than AM's 24.57% return.
DLY
- 1D
- 0.14%
- 1M
- -1.28%
- YTD
- -0.52%
- 6M
- -0.27%
- 1Y
- -2.75%
- 3Y*
- 8.64%
- 5Y*
- 1.84%
- 10Y*
- —
AM
- 1D
- 1.45%
- 1M
- 0.51%
- YTD
- 24.57%
- 6M
- 23.32%
- 1Y
- 24.58%
- 3Y*
- 33.49%
- 5Y*
- 23.97%
- 10Y*
- 7.23%
DLY vs. AM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | -0.52% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -1.90% |
AM Antero Midstream Corporation | 24.57% | 24.37% | 28.46% | 25.73% | 21.98% | 39.55% | 107.72% |
Correlation
The correlation between DLY and AM is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2020 | 0.21 |
The correlation between DLY and AM shifts across timeframes, from -0.02 (1 year) to 0.24 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DLY vs. AM — Risk / Return Rank
DLY
AM
DLY vs. AM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Yield Opportunities Fund (DLY) and Antero Midstream Corporation (AM). 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.
| DLY | AM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.53 | ||
| Sortino ratioReturn per unit of downside risk | -2.21 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.21 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 1.95 | -2.26 |
| Martin ratioReturn relative to average drawdown | -0.79 | 4.00 | -4.78 |
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Drawdowns
DLY vs. AM - Drawdown Comparison
The maximum DLY drawdown since its inception was -28.61%, smaller than the maximum AM drawdown of -93.01%. Use the drawdown chart below to compare losses from any high point for DLY and AM.
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Drawdown Indicators
| DLY | AM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.61% | -93.01% | +64.40% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -12.67% | +3.93% |
Max Drawdown (3Y)Largest decline over 3 years | -10.81% | -13.98% | +3.17% |
Max Drawdown (5Y)Largest decline over 5 years | -28.61% | -21.91% | -6.70% |
Max Drawdown (10Y)Largest decline over 10 years | — | -93.01% | — |
Current DrawdownCurrent decline from peak | -4.62% | -7.22% | +2.60% |
Average DrawdownAverage peak-to-trough decline | -7.81% | -31.88% | +24.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 6.16% | -2.66% |
Volatility
DLY vs. AM - Volatility Comparison
The current volatility for DoubleLine Yield Opportunities Fund (DLY) is 1.97%, while Antero Midstream Corporation (AM) has a volatility of 5.60%. This indicates that DLY experiences smaller price fluctuations and is considered to be less risky than AM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DLY | AM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.97% | 5.60% | -3.63% |
Volatility (6M)Calculated over the trailing 6-month period | 6.84% | 14.22% | -7.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.09% | 20.77% | -12.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.57% | 26.53% | -12.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.02% | 41.97% | -26.95% |
Dividends
DLY vs. AM - Dividend Comparison
DLY's dividend yield for the trailing twelve months is around 10.08%, more than AM's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AM Antero Midstream Corporation | 4.15% | 5.06% | 5.96% | 7.18% | 8.34% | 10.15% | 15.95% | 18.28% | 7.53% | 4.27% | 3.14% | 2.93% |
DLY DoubleLine Yield Opportunities Fund | 10.08% | 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
DLY and AM have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AM has higher volatility (5.60%) compared to DLY (1.97%). In terms of maximum drawdown, DLY dropped -28.61% vs AM's -93.01%.
AM currently has the higher Sharpe Ratio (1.19 vs -0.34), 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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