DLY vs. DLSNX
DLY (DoubleLine Yield Opportunities Fund) and DLSNX (DoubleLine Low Duration Bond Fund Class N) are both mutual funds - DLY is a Multisector Bonds fund actively managed by DoubleLine, while DLSNX is a Short-Term Bond fund actively managed by DoubleLine. Both are actively managed. Over the past 5 years, DLY returned 1.85%/yr vs 2.91%/yr for DLSNX. At a 0.20 correlation, their price movements are largely independent. DLY charges 2.91%/yr vs 0.70%/yr for DLSNX.
Performance
DLY vs. DLSNX - 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 DLSNX's 0.96% return.
DLY
- 1D
- 0.07%
- 1M
- -0.68%
- YTD
- -0.70%
- 6M
- -0.15%
- 1Y
- -2.21%
- 3Y*
- 8.13%
- 5Y*
- 1.85%
- 10Y*
- —
DLSNX
- 1D
- -0.10%
- 1M
- 0.23%
- YTD
- 0.96%
- 6M
- 1.14%
- 1Y
- 3.72%
- 3Y*
- 5.14%
- 5Y*
- 2.91%
- 10Y*
- 2.58%
DLY vs. DLSNX - 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% |
DLSNX DoubleLine Low Duration Bond Fund Class N | 0.96% | 5.49% | 5.06% | 6.50% | -3.04% | 0.56% | 1.04% |
Correlation
The correlation between DLY and DLSNX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2020 | 0.20 |
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Return for Risk
DLY vs. DLSNX — Risk / Return Rank
DLY
DLSNX
DLY vs. DLSNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Yield Opportunities Fund (DLY) and DoubleLine Low Duration Bond Fund Class N (DLSNX). 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 | DLSNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.52 | ||
| Sortino ratioReturn per unit of downside risk | -5.56 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.88 | -0.92 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 5.31 | -5.56 |
| Martin ratioReturn relative to average drawdown | -0.62 | 24.98 | -25.60 |
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Drawdowns
DLY vs. DLSNX - Drawdown Comparison
The maximum DLY drawdown since its inception was -28.61%, which is greater than DLSNX's maximum drawdown of -7.46%. Use the drawdown chart below to compare losses from any high point for DLY and DLSNX.
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Drawdown Indicators
| DLY | DLSNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.61% | -7.46% | -21.15% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -0.72% | -8.02% |
Max Drawdown (3Y)Largest decline over 3 years | -10.81% | -0.72% | -10.09% |
Max Drawdown (5Y)Largest decline over 5 years | -28.61% | -4.91% | -23.70% |
Max Drawdown (10Y)Largest decline over 10 years | — | -7.46% | — |
Current DrawdownCurrent decline from peak | -4.79% | -0.21% | -4.58% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -0.41% | -7.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.56% | 0.15% | +3.41% |
Volatility
DLY vs. DLSNX - Volatility Comparison
DoubleLine Yield Opportunities Fund (DLY) has a higher volatility of 1.62% compared to DoubleLine Low Duration Bond Fund Class N (DLSNX) at 0.37%. This indicates that DLY's price experiences larger fluctuations and is considered to be riskier than DLSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DLY | DLSNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 0.37% | +1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 6.87% | 0.90% | +5.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.14% | 1.19% | +6.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.58% | 1.42% | +12.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.00% | 1.57% | +13.43% |
DLY vs. DLSNX - Expense Ratio Comparison
DLY has a 2.91% expense ratio, which is higher than DLSNX's 0.70% expense ratio.
Dividends
DLY vs. DLSNX - Dividend Comparison
DLY's dividend yield for the trailing twelve months is around 10.18%, more than DLSNX's 4.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLSNX DoubleLine Low Duration Bond Fund Class N | 4.30% | 4.40% | 4.85% | 4.25% | 2.24% | 1.47% | 2.12% | 2.96% | 2.67% | 2.18% | 2.27% | 2.22% |
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 DLSNX have a correlation of 0.30, 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 DLSNX (0.37%). In terms of maximum drawdown, DLY dropped -28.61% vs DLSNX's -7.46%.
DLSNX currently has the higher Sharpe Ratio (3.24 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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