DMX vs. DCPE

Last updated Jun 4, 2026

DMX (DoubleLine Multi-Sector Income ETF) and DCPE (DoubleLine Shiller CAPE US Equities ETF) are both exchange-traded funds - DMX is a Multisector Bonds fund actively managed by DoubleLine, while DCPE is a Large Cap Value Equities fund tracking the Shiller Barclays CAPE US Sector Index. DMX is actively managed, while DCPE is passively managed. Over the past year, DMX returned 6.47% vs 3.29% for DCPE. A 0.54 correlation means they provide meaningful diversification when combined. DMX charges 0.50%/yr vs 0.65%/yr for DCPE.

Performance

DMX vs. DCPE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Multi-Sector Income ETF (DMX) and DoubleLine Shiller CAPE US Equities ETF (DCPE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DMX achieves a 1.46% return, which is significantly higher than DCPE's -1.70% return.

DMX

• 1D: -0.03%
• 1M: 0.47%
• YTD: 1.46%
• 6M: 2.02%
• 1Y: 6.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DCPE

• 1D: -0.48%
• 1M: -1.99%
• YTD: -1.70%
• 6M: -1.38%
• 1Y: 3.29%
• 3Y*: 12.19%
• 5Y*: —
• 10Y*: —

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

DMX vs. DCPE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DMX DoubleLine Multi-Sector Income ETF	1.46%	7.23%	-0.04%
DCPE DoubleLine Shiller CAPE US Equities ETF	-1.70%	9.10%	-5.73%

Correlation

The correlation between DMX and DCPE is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024	0.54

The correlation between DMX and DCPE has been stable across timeframes, ranging from 0.53 to 0.54 - a consistent structural relationship.

Return for Risk

DMX vs. DCPE — Risk / Return Rank

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

DMX

DMX Risk / Return Rank: 90
DMX Sharpe Ratio Rank: 86
DMX Sortino Ratio Rank: 92
DMX Omega Ratio Rank: 92
DMX Calmar Ratio Rank: 88
DMX Martin Ratio Rank: 91

DCPE

DCPE Risk / Return Rank: 14
DCPE Sharpe Ratio Rank: 14
DCPE Sortino Ratio Rank: 13
DCPE Omega Ratio Rank: 13
DCPE Calmar Ratio Rank: 13
DCPE Martin Ratio Rank: 15

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.

DMX vs. DCPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Multi-Sector Income ETF (DMX) and DoubleLine Shiller CAPE US Equities ETF (DCPE). 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.

	DMX	DCPE	Difference
Sharpe ratio: Return per unit of total volatility	2.83	0.30	+2.52
Sortino ratio: Return per unit of downside risk	4.51	0.52	+3.99
Omega ratio: Gain probability vs. loss probability	1.62	1.06	+0.56
Calmar ratio: Return relative to maximum drawdown	5.06	0.34	+4.72
Martin ratio: Return relative to average drawdown	21.23	1.24	+19.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DMX vs. DCPE - Sharpe Ratio Comparison

The current DMX Sharpe Ratio is 2.83, which is higher than the DCPE Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of DMX and DCPE, 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

	DMX	DCPE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.83	0.30	+2.52
Sharpe Ratio (All Time) Calculated using the full available price history	1.85	0.42	+1.43

Drawdowns

DMX vs. DCPE - Drawdown Comparison

The maximum DMX drawdown since its inception was -2.65%, smaller than the maximum DCPE drawdown of -22.07%. Use the drawdown chart below to compare losses from any high point for DMX and DCPE.

Drawdown Indicators

	DMX	DCPE	Difference
Max Drawdown Largest peak-to-trough decline	-2.65%	-22.07%	+19.42%
Max Drawdown (1Y) Largest decline over 1 year	-1.28%	-9.68%	+8.40%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.32%	—
Current Drawdown Current decline from peak	-0.14%	-4.83%	+4.69%
Average Drawdown Average peak-to-trough decline	-0.24%	-4.93%	+4.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.31%	2.65%	-2.34%

Volatility

DMX vs. DCPE - Volatility Comparison

The current volatility for DoubleLine Multi-Sector Income ETF (DMX) is 0.87%, while DoubleLine Shiller CAPE US Equities ETF (DCPE) has a volatility of 2.63%. This indicates that DMX experiences smaller price fluctuations and is considered to be less risky than DCPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DMX	DCPE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	2.63%	-1.76%
Volatility (6M) Calculated over the trailing 6-month period	1.69%	8.04%	-6.35%
Volatility (1Y) Calculated over the trailing 1-year period	2.30%	10.89%	-8.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.14%	16.93%	-13.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.14%	16.93%	-13.79%

DMX vs. DCPE - Expense Ratio Comparison

DMX has a 0.50% expense ratio, which is lower than DCPE's 0.65% expense ratio.

Dividends

DMX vs. DCPE - Dividend Comparison

DMX's dividend yield for the trailing twelve months is around 5.90%, more than DCPE's 1.41% yield.

Position	TTM	2025	2024	2023	2022
DCPE DoubleLine Shiller CAPE US Equities ETF	1.41%	1.39%	1.23%	1.01%	0.80%
DMX DoubleLine Multi-Sector Income ETF	5.90%	5.96%	0.42%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DMX and DCPE in my portfolio?

DMX and DCPE have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DMX or DCPE?

DCPE has higher volatility (2.63%) compared to DMX (0.87%). In terms of maximum drawdown, DMX dropped -2.65% vs DCPE's -22.07%.

Which ETF is better, DMX or DCPE?

On 1-year performance, DMX leads with 6.47% vs 3.29% for DCPE. On fees, DMX is cheaper at 0.50% per year. On volatility, DMX has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DMX or DCPE?

Over the 1-year period, DMX has performed better with a 6.47% return vs 3.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DMX or DCPE?

DMX is cheaper with a 0.50% expense ratio, compared with 0.65% for DCPE.

Which ETF pays a higher dividend yield, DMX or DCPE?

DMX has the higher dividend yield at 5.90%, compared with 1.41% for DCPE.

What is the main difference between DMX and DCPE?

DMX is categorized as Multisector Bonds, while DCPE is Large Cap Value Equities. Their fees differ too: 0.50% for DMX and 0.65% for DCPE.

Which has better risk-adjusted returns?

DMX currently has the higher Sharpe Ratio (2.83 vs 0.30), 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.