DLY vs. HQH
DLY (DoubleLine Yield Opportunities Fund) is Multisector Bonds fund actively managed by DoubleLine, while HQH (Tekla Healthcare Investors) is a stock. Over the past 5 years, DLY returned 1.85%/yr vs 5.14%/yr for HQH. At a 0.29 correlation, their price movements are largely independent.
Performance
DLY vs. HQH - Performance Comparison
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Returns By Period
In the year-to-date period, DLY achieves a -1.24% return, which is significantly lower than HQH's 5.47% return.
DLY
- 1D
- -0.22%
- 1M
- -2.35%
- YTD
- -1.24%
- 6M
- -0.58%
- 1Y
- -3.01%
- 3Y*
- 8.31%
- 5Y*
- 1.85%
- 10Y*
- —
HQH
- 1D
- -1.83%
- 1M
- -3.39%
- YTD
- 5.47%
- 6M
- 3.99%
- 1Y
- 35.45%
- 3Y*
- 16.70%
- 5Y*
- 5.14%
- 10Y*
- 6.93%
DLY vs. HQH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | -1.24% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -3.06% |
HQH Tekla Healthcare Investors | 5.47% | 34.12% | 10.22% | 1.22% | -17.27% | 7.99% | 26.21% |
Correlation
The correlation between DLY and HQH is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2020 | 0.29 |
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Return for Risk
DLY vs. HQH — Risk / Return Rank
DLY
HQH
DLY vs. HQH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Yield Opportunities Fund (DLY) and Tekla Healthcare Investors (HQH). 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 | HQH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.12 | ||
| Sortino ratioReturn per unit of downside risk | -2.86 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.29 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 2.74 | -3.08 |
| Martin ratioReturn relative to average drawdown | -0.88 | 9.58 | -10.45 |
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 | HQH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.37 | 1.74 | -2.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.26 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.32 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.37 | -0.20 |
Drawdowns
DLY vs. HQH - Drawdown Comparison
The maximum DLY drawdown since its inception was -28.61%, smaller than the maximum HQH drawdown of -62.36%. Use the drawdown chart below to compare losses from any high point for DLY and HQH.
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Drawdown Indicators
| DLY | HQH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.61% | -62.36% | +33.75% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -13.01% | +4.27% |
Max Drawdown (3Y)Largest decline over 3 years | -10.81% | -21.14% | +10.33% |
Max Drawdown (5Y)Largest decline over 5 years | -28.61% | -37.55% | +8.94% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.55% | — |
Current DrawdownCurrent decline from peak | -5.31% | -6.10% | +0.79% |
Average DrawdownAverage peak-to-trough decline | -7.82% | -21.04% | +13.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 3.71% | -0.27% |
Volatility
DLY vs. HQH - Volatility Comparison
The current volatility for DoubleLine Yield Opportunities Fund (DLY) is 1.94%, while Tekla Healthcare Investors (HQH) has a volatility of 5.83%. This indicates that DLY experiences smaller price fluctuations and is considered to be less risky than HQH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DLY | HQH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.94% | 5.83% | -3.89% |
Volatility (6M)Calculated over the trailing 6-month period | 6.87% | 14.56% | -7.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.12% | 20.49% | -12.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.57% | 19.60% | -6.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.04% | 21.51% | -6.47% |
Dividends
DLY vs. HQH - Dividend Comparison
DLY's dividend yield for the trailing twelve months is around 10.16%, less than HQH's 12.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | 10.16% | 9.63% | 8.85% | 9.84% | 10.67% | 7.49% | 5.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HQH Tekla Healthcare Investors | 12.36% | 11.56% | 14.21% | 9.66% | 9.50% | 8.59% | 7.97% | 8.24% | 10.75% | 8.78% | 9.80% | 11.97% |
Frequently Asked Questions
DLY and HQH have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HQH has higher volatility (5.83%) compared to DLY (1.94%). In terms of maximum drawdown, DLY dropped -28.61% vs HQH's -62.36%.
HQH currently has the higher Sharpe Ratio (1.74 vs -0.37), 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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