DSEEX vs. CAPE
DSEEX (DoubleLine Shiller Enhanced CAPE) and CAPE (DoubleLine Shiller CAPE U.S. Equities ETF) are both funds - DSEEX is a Large Cap Blend Equities fund managed by DoubleLine, while CAPE is a Large Cap Value Equities fund actively managed by DoubleLine. Over the past 3 years, DSEEX returned 9.83%/yr vs 10.35%/yr for CAPE. Their 0.96 correlation means they have historically moved very closely together. DSEEX charges 0.54%/yr vs 0.65%/yr for CAPE.
Performance
DSEEX vs. CAPE - Performance Comparison
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Returns By Period
In the year-to-date period, DSEEX achieves a 1.86% return, which is significantly lower than CAPE's 2.29% return.
DSEEX
- 1D
- -0.44%
- 1M
- 2.19%
- 6M
- -0.45%
- YTD
- 1.86%
- 1Y
- 4.74%
- 3Y*
- 9.83%
- 5Y*
- 5.27%
- 10Y*
- 11.74%
- ALL TIME*
- 12.36%
CAPE
- 1D
- -0.61%
- 1M
- 1.40%
- 6M
- -0.07%
- YTD
- 2.29%
- 1Y
- 5.08%
- 3Y*
- 10.35%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $545.36K | $471.90K | $957.61K | |
| $0.00 | $0.00 | $0.00 |
DSEEX vs. CAPE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DSEEX DoubleLine Shiller Enhanced CAPE | 1.86% | 9.49% | 12.84% | 27.03% | -19.65% |
CAPE DoubleLine Shiller CAPE U.S. Equities ETF | 2.29% | 9.10% | 14.40% | 27.65% | -15.28% |
Correlation
The correlation between DSEEX and CAPE is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2022 | 0.96 |
The correlation between DSEEX and CAPE has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
DSEEX vs. CAPE — Risk / Return Rank
DSEEX
CAPE
DSEEX vs. CAPE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Shiller Enhanced CAPE (DSEEX) and DoubleLine Shiller CAPE U.S. Equities ETF (CAPE). 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.
| DSEEX | CAPE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.08 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.33 | 0.53 | -0.20 |
| Martin ratioReturn relative to average drawdown | 1.12 | 1.86 | -0.74 |
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Drawdowns
DSEEX vs. CAPE - Drawdown Comparison
The maximum DSEEX drawdown since its inception was -41.66%, which is greater than CAPE's maximum drawdown of -22.07%. Use the drawdown chart below to compare losses from any high point for DSEEX and CAPE.
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Drawdown Indicators
| DSEEX | CAPE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.66% | -22.07% | -19.59% |
Max Drawdown (1Y)Largest decline over 1 year | -10.80% | -9.68% | -1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -14.57% | -14.32% | -0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -41.66% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.66% | — | — |
Current DrawdownCurrent decline from peak | -1.57% | -1.27% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -8.41% | -4.82% | -3.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 2.74% | +0.47% |
Volatility
DSEEX vs. CAPE - Volatility Comparison
DoubleLine Shiller Enhanced CAPE (DSEEX) and DoubleLine Shiller CAPE U.S. Equities ETF (CAPE) have volatilities of 4.73% and 4.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DSEEX | CAPE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.73% | 4.64% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 9.81% | 9.62% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.98% | 11.64% | +0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.92% | 16.86% | +6.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.74% | 16.86% | +4.88% |
DSEEX vs. CAPE - Expense Ratio Comparison
DSEEX has a 0.54% expense ratio, which is lower than CAPE's 0.65% expense ratio.
Dividends
DSEEX vs. CAPE - Dividend Comparison
DSEEX's dividend yield for the trailing twelve months is around 4.88%, more than CAPE's 1.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAPE DoubleLine Shiller CAPE U.S. Equities ETF | 1.37% | 1.39% | 1.23% | 1.01% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DSEEX DoubleLine Shiller Enhanced CAPE | 4.88% | 4.93% | 4.92% | 4.59% | 16.41% | 28.54% | 1.73% | 7.57% | 15.27% | 9.09% | 4.09% | 4.43% |
Frequently Asked Questions
With a correlation of 0.98, DSEEX and CAPE 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.
DSEEX has higher volatility (4.73%) compared to CAPE (4.64%). In terms of maximum drawdown, DSEEX dropped -41.66% vs CAPE's -22.07%.
CAPE currently has the higher Sharpe Ratio (0.44 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.
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