DLY vs. SPXX
DLY (DoubleLine Yield Opportunities Fund) and SPXX (Nuveen S&P 500 Dynamic Overwrite Fund) are both mutual funds - DLY is a Multisector Bonds fund actively managed by DoubleLine, while SPXX is a S&P 500 fund actively managed by Nuveen. Both are actively managed. Over the past 5 years, DLY returned 2.07%/yr vs 7.77%/yr for SPXX. At a 0.39 correlation, their price movements are largely independent. DLY charges 2.91%/yr vs 0.89%/yr for SPXX.
Performance
DLY vs. SPXX - Performance Comparison
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Returns By Period
In the year-to-date period, DLY achieves a -0.38% return, which is significantly lower than SPXX's 3.81% return.
DLY
- 1D
- -0.36%
- 1M
- -1.37%
- YTD
- -0.38%
- 6M
- 0.15%
- 1Y
- -2.54%
- 3Y*
- 9.10%
- 5Y*
- 2.07%
- 10Y*
- —
SPXX
- 1D
- -0.54%
- 1M
- 4.32%
- YTD
- 3.81%
- 6M
- 5.93%
- 1Y
- 14.74%
- 3Y*
- 14.21%
- 5Y*
- 7.77%
- 10Y*
- 10.21%
DLY vs. SPXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | -0.38% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -3.06% |
SPXX Nuveen S&P 500 Dynamic Overwrite Fund | 3.81% | 9.78% | 27.10% | 0.85% | -6.92% | 29.03% | 4.99% |
Correlation
The correlation between DLY and SPXX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2020 | 0.39 |
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Return for Risk
DLY vs. SPXX — Risk / Return Rank
DLY
SPXX
DLY vs. SPXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Yield Opportunities Fund (DLY) and Nuveen S&P 500 Dynamic Overwrite Fund (SPXX). 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 | SPXX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.32 | 1.24 | -1.56 |
Sortino ratioReturn per unit of downside risk | -0.40 | 1.79 | -2.20 |
Omega ratioGain probability vs. loss probability | 0.95 | 1.21 | -0.26 |
Calmar ratioReturn relative to maximum drawdown | -0.29 | 1.25 | -1.54 |
Martin ratioReturn relative to average drawdown | -0.75 | 4.24 | -4.99 |
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 | SPXX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.32 | 1.24 | -1.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.49 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.39 | -0.21 |
Drawdowns
DLY vs. SPXX - Drawdown Comparison
The maximum DLY drawdown since its inception was -28.61%, smaller than the maximum SPXX drawdown of -52.39%. Use the drawdown chart below to compare losses from any high point for DLY and SPXX.
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Drawdown Indicators
| DLY | SPXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.61% | -52.39% | +23.78% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -11.86% | +3.12% |
Max Drawdown (3Y)Largest decline over 3 years | -10.81% | -17.65% | +6.84% |
Max Drawdown (5Y)Largest decline over 5 years | -28.61% | -18.09% | -10.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.99% | — |
Current DrawdownCurrent decline from peak | -4.48% | -0.54% | -3.94% |
Average DrawdownAverage peak-to-trough decline | -7.82% | -7.47% | -0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 3.48% | -0.08% |
Volatility
DLY vs. SPXX - Volatility Comparison
The current volatility for DoubleLine Yield Opportunities Fund (DLY) is 1.93%, while Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) has a volatility of 2.66%. This indicates that DLY experiences smaller price fluctuations and is considered to be less risky than SPXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DLY | SPXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.93% | 2.66% | -0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 6.85% | 8.92% | -2.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.09% | 11.94% | -3.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.57% | 15.82% | -2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.05% | 18.41% | -3.36% |
DLY vs. SPXX - Expense Ratio Comparison
DLY has a 2.91% expense ratio, which is higher than SPXX's 0.89% expense ratio.
Dividends
DLY vs. SPXX - Dividend Comparison
DLY's dividend yield for the trailing twelve months is around 10.07%, more than SPXX's 7.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | 10.07% | 9.63% | 8.85% | 9.84% | 10.67% | 7.49% | 5.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPXX Nuveen S&P 500 Dynamic Overwrite Fund | 7.35% | 7.48% | 6.87% | 7.82% | 7.30% | 5.27% | 6.56% | 6.44% | 7.98% | 5.69% | 5.14% | 7.75% |
Frequently Asked Questions
DLY and SPXX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPXX has higher volatility (2.66%) compared to DLY (1.93%). In terms of maximum drawdown, DLY dropped -28.61% vs SPXX's -52.39%.
SPXX currently has the higher Sharpe Ratio (1.24 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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