DLY vs. DIVO
DLY (DoubleLine Yield Opportunities Fund) and DIVO (Amplify CWP Enhanced Dividend Income ETF) are both funds - DLY is a Multisector Bonds fund actively managed by DoubleLine, while DIVO is a Derivative Income fund actively managed by Amplify. Both are actively managed. Over the past 5 years, DLY returned 1.85%/yr vs 10.94%/yr for DIVO. At a 0.33 correlation, their price movements are largely independent. DLY charges 2.91%/yr vs 0.56%/yr for DIVO.
Performance
DLY vs. DIVO - 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 DIVO's 5.40% return.
DLY
- 1D
- 0.07%
- 1M
- -0.68%
- YTD
- -0.70%
- 6M
- -0.15%
- 1Y
- -2.21%
- 3Y*
- 8.13%
- 5Y*
- 1.85%
- 10Y*
- —
DIVO
- 1D
- -0.04%
- 1M
- -0.03%
- YTD
- 5.40%
- 6M
- 4.24%
- 1Y
- 17.37%
- 3Y*
- 15.15%
- 5Y*
- 10.94%
- 10Y*
- —
DLY vs. DIVO - 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% |
DIVO Amplify CWP Enhanced Dividend Income ETF | 5.40% | 17.40% | 16.22% | 6.95% | -1.46% | 22.87% | 16.82% |
Correlation
The correlation between DLY and DIVO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2020 | 0.33 |
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Return for Risk
DLY vs. DIVO — Risk / Return Rank
DLY
DIVO
DLY vs. DIVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Yield Opportunities Fund (DLY) and Amplify CWP Enhanced Dividend Income ETF (DIVO). 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 | DIVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.18 | ||
| Sortino ratioReturn per unit of downside risk | -3.15 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.33 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 2.93 | -3.19 |
| Martin ratioReturn relative to average drawdown | -0.62 | 10.48 | -11.11 |
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Drawdowns
DLY vs. DIVO - Drawdown Comparison
The maximum DLY drawdown since its inception was -28.61%, roughly equal to the maximum DIVO drawdown of -30.04%. Use the drawdown chart below to compare losses from any high point for DLY and DIVO.
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Drawdown Indicators
| DLY | DIVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.61% | -30.04% | +1.43% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -5.95% | -2.79% |
Max Drawdown (3Y)Largest decline over 3 years | -10.81% | -12.12% | +1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -28.61% | -13.72% | -14.89% |
Current DrawdownCurrent decline from peak | -4.79% | -1.61% | -3.18% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -2.60% | -5.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.56% | 1.66% | +1.90% |
Volatility
DLY vs. DIVO - Volatility Comparison
The current volatility for DoubleLine Yield Opportunities Fund (DLY) is 1.62%, while Amplify CWP Enhanced Dividend Income ETF (DIVO) has a volatility of 2.94%. This indicates that DLY experiences smaller price fluctuations and is considered to be less risky than DIVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DLY | DIVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 2.94% | -1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 6.87% | 7.14% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.14% | 9.21% | -1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.58% | 11.95% | +1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.00% | 14.82% | +0.18% |
DLY vs. DIVO - Expense Ratio Comparison
DLY has a 2.91% expense ratio, which is higher than DIVO's 0.56% expense ratio.
Dividends
DLY vs. DIVO - Dividend Comparison
DLY's dividend yield for the trailing twelve months is around 10.18%, more than DIVO's 6.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DIVO Amplify CWP Enhanced Dividend Income ETF | 6.43% | 6.44% | 4.70% | 4.67% | 4.76% | 4.79% | 4.91% | 8.16% | 5.27% | 3.83% |
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% |
Frequently Asked Questions
DLY and DIVO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIVO has higher volatility (2.94%) compared to DLY (1.62%). In terms of maximum drawdown, DLY dropped -28.61% vs DIVO's -30.04%.
DIVO currently has the higher Sharpe Ratio (1.90 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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