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DLY vs. ICMUX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DLY vs. ICMUX

Last updated Jun 3, 2026

DLY (DoubleLine Yield Opportunities Fund) and ICMUX (Intrepid Income Fund) are both Multisector Bonds funds. Over the past 5 years, DLY returned 2.07%/yr vs 6.30%/yr for ICMUX. At a 0.30 correlation, their price movements are largely independent. DLY charges 2.91%/yr vs 0.91%/yr for ICMUX.

Performance

DLY vs. ICMUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Yield Opportunities Fund (DLY) and Intrepid Income Fund (ICMUX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DLY achieves a -0.02% return, which is significantly lower than ICMUX's 2.43% return.

DLY

1D
-0.21%
1M
-1.36%
YTD
-0.02%
6M
0.51%
1Y
-1.88%
3Y*
9.23%
5Y*
2.07%
10Y*
—

ICMUX

1D
0.00%
1M
0.81%
YTD
2.43%
6M
2.92%
1Y
8.40%
3Y*
9.96%
5Y*
6.30%
10Y*
5.89%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DLY vs. ICMUX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
DLY
DoubleLine Yield Opportunities Fund		-0.02%0.63%16.29%25.48%-23.08%8.56%-3.06%
ICMUX
Intrepid Income Fund		2.43%8.16%10.43%10.90%-3.17%10.02%8.46%

Correlation

The correlation between DLY and ICMUX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.33

Correlation (3Y)
Calculated over the trailing 3-year period

0.31

Correlation (5Y)
Calculated over the trailing 5-year period

0.33

Correlation (All Time)
Calculated using the full available price history since Feb 27, 2020

0.30

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

DoubleLine Yield Opportunities Fund

Intrepid Income Fund

Often compared with DLY:
DLY vs. DSLDLY vs. CEFSDLY vs. DIVODLY vs. JEPQDLY vs. SPYDLY vs. SPXXDLY vs. FSCO
Often compared with ICMUX:
ICMUX vs. RCTIXICMUX vs. FRFZXICMUX vs. CGMSICMUX vs. MNHYXICMUX vs. BUFHXICMUX vs. CBLDXICMUX vs. CGCP

Return for Risk

DLY vs. ICMUX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DLY
DLY Risk / Return Rank: 22
Overall Rank
DLY Sharpe Ratio Rank: 22
Sharpe Ratio Rank
DLY Sortino Ratio Rank: 22
Sortino Ratio Rank
DLY Omega Ratio Rank: 22
Omega Ratio Rank
DLY Calmar Ratio Rank: 11
Calmar Ratio Rank
DLY Martin Ratio Rank: 11
Martin Ratio Rank
ICMUX
ICMUX Risk / Return Rank: 9797
Overall Rank
ICMUX Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
ICMUX Sortino Ratio Rank: 9898
Sortino Ratio Rank
ICMUX Omega Ratio Rank: 9898
Omega Ratio Rank
ICMUX Calmar Ratio Rank: 9696
Calmar Ratio Rank
ICMUX Martin Ratio Rank: 9595
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DLY vs. ICMUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Yield Opportunities Fund (DLY) and Intrepid Income Fund (ICMUX). 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.

DLYICMUXDifference

Sharpe ratio

Return per unit of total volatility

-0.23

4.44

-4.67

Sortino ratio

Return per unit of downside risk

-0.28

7.48

-7.76

Omega ratio

Gain probability vs. loss probability

0.96

2.16

-1.19

Calmar ratio

Return relative to maximum drawdown

-0.26

6.37

-6.63

Martin ratio

Return relative to average drawdown

-0.67

22.42

-23.08

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DLY vs. ICMUX - Sharpe Ratio Comparison

The current DLY Sharpe Ratio is -0.23, which is lower than the ICMUX Sharpe Ratio of 4.44. The chart below compares the historical Sharpe Ratios of DLY and ICMUX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

DLYICMUXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.23

4.44

-4.67

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.15

2.37

-2.22

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

2.29

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.19

2.10

-1.91

Drawdowns

DLY vs. ICMUX - Drawdown Comparison

The maximum DLY drawdown since its inception was -28.61%, which is greater than ICMUX's maximum drawdown of -8.77%. Use the drawdown chart below to compare losses from any high point for DLY and ICMUX.

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Drawdown Indicators

DLYICMUXDifference

Max Drawdown

Largest peak-to-trough decline

-28.61%

-8.77%

-19.84%

Max Drawdown (1Y)

Largest decline over 1 year

-8.74%

-1.34%

-7.40%

Max Drawdown (3Y)

Largest decline over 3 years

-10.81%

-3.11%

-7.70%

Max Drawdown (5Y)

Largest decline over 5 years

-28.61%

-5.64%

-22.97%

Max Drawdown (10Y)

Largest decline over 10 years

—

-8.77%

—

Current Drawdown

Current decline from peak

-4.14%

0.00%

-4.14%

Average Drawdown

Average peak-to-trough decline

-7.83%

-0.74%

-7.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.39%

0.38%

+3.01%

Volatility

DLY vs. ICMUX - Volatility Comparison

DoubleLine Yield Opportunities Fund (DLY) has a higher volatility of 1.92% compared to Intrepid Income Fund (ICMUX) at 0.58%. This indicates that DLY's price experiences larger fluctuations and is considered to be riskier than ICMUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DLYICMUXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.92%

0.58%

+1.34%

Volatility (6M)

Calculated over the trailing 6-month period

6.85%

1.43%

+5.42%

Volatility (1Y)

Calculated over the trailing 1-year period

8.09%

1.93%

+6.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.57%

2.66%

+10.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.06%

2.58%

+12.48%

DLY vs. ICMUX - Expense Ratio Comparison

DLY has a 2.91% expense ratio, which is higher than ICMUX's 0.91% expense ratio.

Dividends

DLY vs. ICMUX - Dividend Comparison

DLY's dividend yield for the trailing twelve months is around 10.03%, more than ICMUX's 7.55% yield.

PositionTTM20252024202320222021202020192018201720162015
DLY
DoubleLine Yield Opportunities Fund		10.03%9.63%8.85%9.84%10.67%7.49%5.67%0.00%0.00%0.00%0.00%0.00%
ICMUX
Intrepid Income Fund		7.55%7.96%7.85%9.10%8.17%5.99%5.56%3.35%3.07%2.86%3.01%3.53%

Frequently Asked Questions

DLY and ICMUX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DLY has higher volatility (1.92%) compared to ICMUX (0.58%). In terms of maximum drawdown, DLY dropped -28.61% vs ICMUX's -8.77%.

ICMUX currently has the higher Sharpe Ratio (4.44 vs -0.23), 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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