DLY vs. DBLFX
DLY (DoubleLine Yield Opportunities Fund) and DBLFX (DoubleLine Core Fixed Income Fund) are both mutual funds - DLY is a Multisector Bonds fund actively managed by DoubleLine, while DBLFX is a Intermediate Core-Plus Bond fund managed by DoubleLine. Over the past 5 years, DLY returned 2.07%/yr vs 0.68%/yr for DBLFX. At a 0.22 correlation, their price movements are largely independent. DLY charges 2.91%/yr vs 0.47%/yr for DBLFX.
Performance
DLY vs. DBLFX - Performance Comparison
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Returns By Period
In the year-to-date period, DLY achieves a -0.38% return, which is significantly lower than DBLFX's 0.02% return.
DLY
- 1D
- -0.36%
- 1M
- -1.37%
- YTD
- -0.38%
- 6M
- 0.15%
- 1Y
- -2.54%
- 3Y*
- 9.10%
- 5Y*
- 2.07%
- 10Y*
- —
DBLFX
- 1D
- 0.11%
- 1M
- 0.37%
- YTD
- 0.02%
- 6M
- 0.06%
- 1Y
- 5.08%
- 3Y*
- 4.66%
- 5Y*
- 0.68%
- 10Y*
- 2.04%
DLY vs. DBLFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | -0.38% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -3.06% |
DBLFX DoubleLine Core Fixed Income Fund | 0.02% | 7.54% | 3.04% | 6.44% | -12.76% | -0.34% | 3.10% |
Correlation
The correlation between DLY and DBLFX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2020 | 0.22 |
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Return for Risk
DLY vs. DBLFX — Risk / Return Rank
DLY
DBLFX
DLY vs. DBLFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Yield Opportunities Fund (DLY) 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.
| DLY | DBLFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.71 | ||
| Sortino ratioReturn per unit of downside risk | -2.48 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.25 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | 1.75 | -2.04 |
| Martin ratioReturn relative to average drawdown | -0.75 | 5.31 | -6.06 |
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
| DLY | DBLFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.32 | 1.40 | -1.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.13 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.87 | -0.68 |
Drawdowns
DLY vs. DBLFX - Drawdown Comparison
The maximum DLY drawdown since its inception was -28.61%, which is greater than DBLFX's maximum drawdown of -17.09%. Use the drawdown chart below to compare losses from any high point for DLY and DBLFX.
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Drawdown Indicators
| DLY | DBLFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.61% | -17.09% | -11.52% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -2.92% | -5.82% |
Max Drawdown (3Y)Largest decline over 3 years | -10.81% | -6.05% | -4.76% |
Max Drawdown (5Y)Largest decline over 5 years | -28.61% | -17.09% | -11.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.09% | — |
Current DrawdownCurrent decline from peak | -4.48% | -1.59% | -2.89% |
Average DrawdownAverage peak-to-trough decline | -7.82% | -2.57% | -5.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 0.96% | +2.44% |
Volatility
DLY vs. DBLFX - Volatility Comparison
DoubleLine Yield Opportunities Fund (DLY) has a higher volatility of 1.93% compared to DoubleLine Core Fixed Income Fund (DBLFX) at 1.39%. This indicates that DLY's price experiences larger fluctuations and is considered to be riskier than DBLFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DLY | DBLFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.93% | 1.39% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 6.85% | 2.71% | +4.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.09% | 3.66% | +4.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.57% | 5.24% | +8.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.05% | 4.29% | +10.76% |
DLY vs. DBLFX - Expense Ratio Comparison
DLY has a 2.91% expense ratio, which is higher than DBLFX's 0.47% expense ratio.
Dividends
DLY vs. DBLFX - Dividend Comparison
DLY's dividend yield for the trailing twelve months is around 10.07%, more 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% |
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
DLY and DBLFX have a correlation of 0.27, 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 DBLFX (1.39%). In terms of maximum drawdown, DLY dropped -28.61% vs DBLFX's -17.09%.
DBLFX currently has the higher Sharpe Ratio (1.40 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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