DLY vs. SRLN
DLY (DoubleLine Yield Opportunities Fund) and SRLN (State Street Blackstone Senior Loan ETF) are both funds - DLY is a Multisector Bonds fund actively managed by DoubleLine, while SRLN is a Bank Loan fund actively managed by State Street. Both are actively managed. Over the past 5 years, DLY returned 1.89%/yr vs 4.43%/yr for SRLN. At a 0.36 correlation, their price movements are largely independent. DLY charges 2.91%/yr vs 0.70%/yr for SRLN.
Performance
DLY vs. SRLN - Performance Comparison
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Returns By Period
In the year-to-date period, DLY achieves a 0.09% return, which is significantly lower than SRLN's 0.28% return.
DLY
- 1D
- 0.73%
- 1M
- 0.12%
- YTD
- 0.09%
- 6M
- 0.44%
- 1Y
- -1.75%
- 3Y*
- 8.35%
- 5Y*
- 1.89%
- 10Y*
- —
SRLN
- 1D
- 0.00%
- 1M
- -0.31%
- YTD
- 0.28%
- 6M
- 0.45%
- 1Y
- 4.36%
- 3Y*
- 7.30%
- 5Y*
- 4.43%
- 10Y*
- 4.57%
DLY vs. SRLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | 0.09% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -1.90% |
SRLN State Street Blackstone Senior Loan ETF | 0.28% | 6.77% | 8.43% | 11.62% | -5.30% | 4.49% | 3.29% |
Correlation
The correlation between DLY and SRLN 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 | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2020 | 0.36 |
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Return for Risk
DLY vs. SRLN — Risk / Return Rank
DLY
SRLN
DLY vs. SRLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Yield Opportunities Fund (DLY) and State Street Blackstone Senior Loan ETF (SRLN). 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 | SRLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -2.44 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.33 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 1.34 | -1.54 |
| Martin ratioReturn relative to average drawdown | -0.49 | 4.96 | -5.45 |
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Drawdowns
DLY vs. SRLN - Drawdown Comparison
The maximum DLY drawdown since its inception was -28.61%, which is greater than SRLN's maximum drawdown of -22.29%. Use the drawdown chart below to compare losses from any high point for DLY and SRLN.
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Drawdown Indicators
| DLY | SRLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.61% | -22.29% | -6.32% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -3.26% | -5.48% |
Max Drawdown (3Y)Largest decline over 3 years | -10.81% | -4.26% | -6.55% |
Max Drawdown (5Y)Largest decline over 5 years | -28.61% | -7.93% | -20.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.29% | — |
Current DrawdownCurrent decline from peak | -4.03% | -0.52% | -3.51% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -1.09% | -6.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 0.88% | +2.70% |
Volatility
DLY vs. SRLN - Volatility Comparison
DoubleLine Yield Opportunities Fund (DLY) has a higher volatility of 1.79% compared to State Street Blackstone Senior Loan ETF (SRLN) at 0.60%. This indicates that DLY's price experiences larger fluctuations and is considered to be riskier than SRLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DLY | SRLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 0.60% | +1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 6.91% | 2.68% | +4.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.17% | 2.91% | +5.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.58% | 3.92% | +9.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.99% | 6.06% | +8.93% |
DLY vs. SRLN - Expense Ratio Comparison
DLY has a 2.91% expense ratio, which is higher than SRLN's 0.70% expense ratio.
Dividends
DLY vs. SRLN - Dividend Comparison
DLY's dividend yield for the trailing twelve months is around 10.10%, more than SRLN's 7.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | 10.10% | 9.63% | 8.85% | 9.84% | 10.67% | 7.49% | 5.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SRLN State Street Blackstone Senior Loan ETF | 7.52% | 7.67% | 8.58% | 8.44% | 5.72% | 4.45% | 4.91% | 5.39% | 4.98% | 4.01% | 3.94% | 4.43% |
Frequently Asked Questions
DLY and SRLN 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 (1.79%) compared to SRLN (0.60%). In terms of maximum drawdown, DLY dropped -28.61% vs SRLN's -22.29%.
SRLN currently has the higher Sharpe Ratio (1.51 vs -0.21), 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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