DLY vs. DBLLX
DLY (DoubleLine Yield Opportunities Fund) and DBLLX (DoubleLine Low Duration Emerging Markets Fixed Income Fund) are both mutual funds - DLY is a Multisector Bonds fund actively managed by DoubleLine, while DBLLX is a Emerging Markets Bonds fund managed by DoubleLine. Over the past 5 years, DLY returned 1.85%/yr vs 3.43%/yr for DBLLX. At a 0.22 correlation, their price movements are largely independent. DLY charges 2.91%/yr vs 0.59%/yr for DBLLX.
Performance
DLY vs. DBLLX - Performance Comparison
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Returns By Period
In the year-to-date period, DLY achieves a -0.70% return, which is significantly lower than DBLLX's 1.21% return.
DLY
- 1D
- 0.07%
- 1M
- -0.68%
- YTD
- -0.70%
- 6M
- -0.15%
- 1Y
- -2.21%
- 3Y*
- 8.13%
- 5Y*
- 1.85%
- 10Y*
- —
DBLLX
- 1D
- -0.10%
- 1M
- 0.40%
- YTD
- 1.21%
- 6M
- 1.31%
- 1Y
- 4.95%
- 3Y*
- 6.90%
- 5Y*
- 3.43%
- 10Y*
- 3.49%
DLY vs. DBLLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | -0.70% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -1.90% |
DBLLX DoubleLine Low Duration Emerging Markets Fixed Income Fund | 1.21% | 7.86% | 7.20% | 7.00% | -5.05% | -0.21% | 2.76% |
Correlation
The correlation between DLY and DBLLX 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 | 0.24 |
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 | 0.22 |
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Return for Risk
DLY vs. DBLLX — Risk / Return Rank
DLY
DBLLX
DLY vs. DBLLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Yield Opportunities Fund (DLY) and DoubleLine Low Duration Emerging Markets Fixed Income Fund (DBLLX). 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 | DBLLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.58 | ||
| Sortino ratioReturn per unit of downside risk | -8.06 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 2.38 | -1.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 5.38 | -5.64 |
| Martin ratioReturn relative to average drawdown | -0.62 | 24.43 | -25.05 |
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Drawdowns
DLY vs. DBLLX - Drawdown Comparison
The maximum DLY drawdown since its inception was -28.61%, which is greater than DBLLX's maximum drawdown of -10.13%. Use the drawdown chart below to compare losses from any high point for DLY and DBLLX.
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Drawdown Indicators
| DLY | DBLLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.61% | -10.13% | -18.48% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -0.92% | -7.82% |
Max Drawdown (3Y)Largest decline over 3 years | -10.81% | -1.35% | -9.46% |
Max Drawdown (5Y)Largest decline over 5 years | -28.61% | -10.13% | -18.48% |
Max Drawdown (10Y)Largest decline over 10 years | — | -10.13% | — |
Current DrawdownCurrent decline from peak | -4.79% | -0.10% | -4.69% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -1.29% | -6.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.56% | 0.20% | +3.36% |
Volatility
DLY vs. DBLLX - Volatility Comparison
DoubleLine Yield Opportunities Fund (DLY) has a higher volatility of 1.62% compared to DoubleLine Low Duration Emerging Markets Fixed Income Fund (DBLLX) at 0.35%. This indicates that DLY's price experiences larger fluctuations and is considered to be riskier than DBLLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DLY | DBLLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 0.35% | +1.27% |
Volatility (6M)Calculated over the trailing 6-month period | 6.87% | 0.93% | +5.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.14% | 1.16% | +6.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.58% | 1.94% | +11.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.00% | 1.90% | +13.10% |
DLY vs. DBLLX - Expense Ratio Comparison
DLY has a 2.91% expense ratio, which is higher than DBLLX's 0.59% expense ratio.
Dividends
DLY vs. DBLLX - Dividend Comparison
DLY's dividend yield for the trailing twelve months is around 10.18%, more than DBLLX's 5.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBLLX DoubleLine Low Duration Emerging Markets Fixed Income Fund | 5.08% | 5.27% | 4.70% | 3.74% | 2.41% | 2.15% | 2.61% | 4.93% | 2.87% | 3.00% | 3.19% | 3.77% |
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
DLY and DBLLX 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 (1.62%) compared to DBLLX (0.35%). In terms of maximum drawdown, DLY dropped -28.61% vs DBLLX's -10.13%.
DBLLX currently has the higher Sharpe Ratio (4.30 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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