DMBS vs. PIFI

Last updated Jun 4, 2026

DMBS (Doubleline Etf Trust - Mortgage ETF) and PIFI (ClearShares Piton Intermediate Fixed Income ETF) are both Intermediate Core Bond funds. Both are actively managed. Over the past 3 years, DMBS returned 4.62%/yr vs 3.73%/yr for PIFI. Their correlation of 0.92 suggests significant overlap in exposure. DMBS charges 0.49%/yr vs 0.45%/yr for PIFI.

Performance

DMBS vs. PIFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Doubleline Etf Trust - Mortgage ETF (DMBS) and ClearShares Piton Intermediate Fixed Income ETF (PIFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DMBS achieves a 0.51% return, which is significantly higher than PIFI's -0.13% return.

DMBS

• 1D: -0.20%
• 1M: 0.21%
• YTD: 0.51%
• 6M: 0.61%
• 1Y: 6.86%
• 3Y*: 4.62%
• 5Y*: —
• 10Y*: —

PIFI

• 1D: -0.15%
• 1M: -0.05%
• YTD: -0.13%
• 6M: -0.14%
• 1Y: 3.48%
• 3Y*: 3.73%
• 5Y*: 1.02%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DMBS vs. PIFI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DMBS Doubleline Etf Trust - Mortgage ETF	0.51%	8.54%	2.09%	1.31%
PIFI ClearShares Piton Intermediate Fixed Income ETF	-0.13%	6.29%	2.52%	1.52%

Correlation

The correlation between DMBS and PIFI is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (All Time) Calculated using the full available price history since Apr 5, 2023	0.92

The correlation between DMBS and PIFI has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

Return for Risk

DMBS vs. PIFI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DMBS

DMBS Risk / Return Rank: 48
DMBS Sharpe Ratio Rank: 48
DMBS Sortino Ratio Rank: 52
DMBS Omega Ratio Rank: 48
DMBS Calmar Ratio Rank: 44
DMBS Martin Ratio Rank: 47

PIFI

PIFI Risk / Return Rank: 37
PIFI Sharpe Ratio Rank: 38
PIFI Sortino Ratio Rank: 41
PIFI Omega Ratio Rank: 37
PIFI Calmar Ratio Rank: 37
PIFI Martin Ratio Rank: 35

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.

DMBS vs. PIFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Doubleline Etf Trust - Mortgage ETF (DMBS) and ClearShares Piton Intermediate Fixed Income ETF (PIFI). 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.

	DMBS	PIFI	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.34	+0.31
Sortino ratio: Return per unit of downside risk	2.49	2.03	+0.45
Omega ratio: Gain probability vs. loss probability	1.30	1.24	+0.06
Calmar ratio: Return relative to maximum drawdown	2.15	1.81	+0.34
Martin ratio: Return relative to average drawdown	7.62	5.24	+2.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DMBS vs. PIFI - Sharpe Ratio Comparison

The current DMBS Sharpe Ratio is 1.65, which is comparable to the PIFI Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of DMBS and PIFI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DMBS	PIFI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	1.34	+0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.22	+0.40

Drawdowns

DMBS vs. PIFI - Drawdown Comparison

The maximum DMBS drawdown since its inception was -8.14%, smaller than the maximum PIFI drawdown of -10.59%. Use the drawdown chart below to compare losses from any high point for DMBS and PIFI.

Drawdown Indicators

	DMBS	PIFI	Difference
Max Drawdown Largest peak-to-trough decline	-8.14%	-10.59%	+2.45%
Max Drawdown (1Y) Largest decline over 1 year	-3.20%	-1.93%	-1.27%
Max Drawdown (3Y) Largest decline over 3 years	-7.24%	-2.75%	-4.49%
Max Drawdown (5Y) Largest decline over 5 years	—	-10.41%	—
Current Drawdown Current decline from peak	-1.59%	-1.45%	-0.14%
Average Drawdown Average peak-to-trough decline	-1.70%	-3.23%	+1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	0.66%	+0.24%

Volatility

DMBS vs. PIFI - Volatility Comparison

Doubleline Etf Trust - Mortgage ETF (DMBS) has a higher volatility of 1.61% compared to ClearShares Piton Intermediate Fixed Income ETF (PIFI) at 0.81%. This indicates that DMBS's price experiences larger fluctuations and is considered to be riskier than PIFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DMBS	PIFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.61%	0.81%	+0.80%
Volatility (6M) Calculated over the trailing 6-month period	3.02%	1.83%	+1.19%
Volatility (1Y) Calculated over the trailing 1-year period	4.18%	2.61%	+1.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.28%	3.66%	+2.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.28%	3.48%	+2.80%

DMBS vs. PIFI - Expense Ratio Comparison

DMBS has a 0.49% expense ratio, which is higher than PIFI's 0.45% expense ratio.

Dividends

DMBS vs. PIFI - Dividend Comparison

DMBS's dividend yield for the trailing twelve months is around 5.12%, more than PIFI's 3.76% yield.

Position	TTM	2025	2024	2023	2022	2021
DMBS Doubleline Etf Trust - Mortgage ETF	5.12%	4.96%	4.97%	2.82%	0.00%	0.00%
PIFI ClearShares Piton Intermediate Fixed Income ETF	3.76%	3.16%	2.92%	2.29%	1.22%	0.25%

Frequently Asked Questions

Can I hold both DMBS and PIFI in my portfolio?

With a correlation of 0.91, DMBS and PIFI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DMBS or PIFI?

DMBS has higher volatility (1.61%) compared to PIFI (0.81%). In terms of maximum drawdown, DMBS dropped -8.14% vs PIFI's -10.59%.

Which ETF is better, DMBS or PIFI?

On 3-year performance, DMBS leads with 4.62% vs 3.73% for PIFI. On fees, PIFI is cheaper at 0.45% per year. On volatility, PIFI has been the lower-risk option at 0.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DMBS or PIFI?

Over the 3-year period, DMBS has performed better with a 4.62% return vs 3.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DMBS or PIFI?

PIFI is cheaper with a 0.45% expense ratio, compared with 0.49% for DMBS.

Which ETF pays a higher dividend yield, DMBS or PIFI?

DMBS has the higher dividend yield at 5.12%, compared with 3.76% for PIFI.

What is the main difference between DMBS and PIFI?

They also come from different issuers: DoubleLine and ClearShares. Their fees differ too: 0.49% for DMBS and 0.45% for PIFI.

Which has better risk-adjusted returns?

DMBS currently has the higher Sharpe Ratio (1.65 vs 1.34), 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.