DLY vs. MOFIX
DLY (DoubleLine Yield Opportunities Fund) and MOFIX (Mercer Opportunistic Fixed Income Fund) are both Multisector Bonds funds. Over the past 5 years, DLY returned 2.06%/yr vs 1.42%/yr for MOFIX. At a 0.30 correlation, their price movements are largely independent. DLY charges 2.91%/yr vs 0.44%/yr for MOFIX.
Performance
DLY vs. MOFIX - Performance Comparison
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Returns By Period
In the year-to-date period, DLY achieves a -0.45% return, which is significantly higher than MOFIX's -1.18% return.
DLY
- 1D
- -0.07%
- 1M
- -1.30%
- YTD
- -0.45%
- 6M
- 0.01%
- 1Y
- -2.61%
- 3Y*
- 9.13%
- 5Y*
- 2.06%
- 10Y*
- —
MOFIX
- 1D
- -0.12%
- 1M
- 0.12%
- YTD
- -1.18%
- 6M
- -0.56%
- 1Y
- 3.10%
- 3Y*
- 5.57%
- 5Y*
- 1.42%
- 10Y*
- —
DLY vs. MOFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | -0.45% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -3.06% |
MOFIX Mercer Opportunistic Fixed Income Fund | -1.18% | 8.60% | 2.23% | 12.22% | -11.57% | -1.15% | 5.54% |
Correlation
The correlation between DLY and MOFIX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
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 |
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Return for Risk
DLY vs. MOFIX — Risk / Return Rank
DLY
MOFIX
DLY vs. MOFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Yield Opportunities Fund (DLY) and Mercer Opportunistic Fixed Income Fund (MOFIX). 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 | MOFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -2.39 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.26 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 1.12 | -1.42 |
| Martin ratioReturn relative to average drawdown | -0.77 | 3.47 | -4.24 |
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 | MOFIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.32 | 1.31 | -1.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.20 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.33 | -0.14 |
Drawdowns
DLY vs. MOFIX - Drawdown Comparison
The maximum DLY drawdown since its inception was -28.61%, which is greater than MOFIX's maximum drawdown of -19.96%. Use the drawdown chart below to compare losses from any high point for DLY and MOFIX.
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Drawdown Indicators
| DLY | MOFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.61% | -19.96% | -8.65% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -3.52% | -5.22% |
Max Drawdown (3Y)Largest decline over 3 years | -10.81% | -8.02% | -2.79% |
Max Drawdown (5Y)Largest decline over 5 years | -28.61% | -19.00% | -9.61% |
Current DrawdownCurrent decline from peak | -4.55% | -1.64% | -2.91% |
Average DrawdownAverage peak-to-trough decline | -7.82% | -5.17% | -2.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 1.07% | +2.34% |
Volatility
DLY vs. MOFIX - Volatility Comparison
DoubleLine Yield Opportunities Fund (DLY) has a higher volatility of 1.92% compared to Mercer Opportunistic Fixed Income Fund (MOFIX) at 0.97%. This indicates that DLY's price experiences larger fluctuations and is considered to be riskier than MOFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DLY | MOFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.92% | 0.97% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 6.85% | 2.36% | +4.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.09% | 3.00% | +5.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.57% | 7.26% | +6.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.05% | 7.18% | +7.87% |
DLY vs. MOFIX - Expense Ratio Comparison
DLY has a 2.91% expense ratio, which is higher than MOFIX's 0.44% expense ratio.
Dividends
DLY vs. MOFIX - Dividend Comparison
DLY's dividend yield for the trailing twelve months is around 10.07%, more than MOFIX's 3.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | 10.07% | 9.63% | 8.85% | 9.84% | 10.67% | 7.49% | 5.67% |
MOFIX Mercer Opportunistic Fixed Income Fund | 3.36% | 3.32% | 6.91% | 6.44% | 3.81% | 4.20% | 0.00% |
Frequently Asked Questions
DLY and MOFIX have a correlation of 0.40, 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 MOFIX (0.97%). In terms of maximum drawdown, DLY dropped -28.61% vs MOFIX's -19.96%.
MOFIX currently has the higher Sharpe Ratio (1.31 vs -0.32), 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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