DSEEX vs. DLY
DSEEX (DoubleLine Shiller Enhanced CAPE) and DLY (DoubleLine Yield Opportunities Fund) are both mutual funds - DSEEX is a Large Cap Blend Equities fund managed by DoubleLine, while DLY is a Multisector Bonds fund actively managed by DoubleLine. Over the past 5 years, DSEEX returned 5.35%/yr vs 2.07%/yr for DLY. At a 0.38 correlation, their price movements are largely independent. DSEEX charges 0.54%/yr vs 2.91%/yr for DLY.
Performance
DSEEX vs. DLY - Performance Comparison
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Returns By Period
In the year-to-date period, DSEEX achieves a -2.04% return, which is significantly lower than DLY's -0.38% return.
DSEEX
- 1D
- -0.45%
- 1M
- -1.66%
- YTD
- -2.04%
- 6M
- -1.93%
- 1Y
- 3.18%
- 3Y*
- 11.51%
- 5Y*
- 5.35%
- 10Y*
- 12.01%
DLY
- 1D
- -0.36%
- 1M
- -1.37%
- YTD
- -0.38%
- 6M
- 0.15%
- 1Y
- -2.54%
- 3Y*
- 9.10%
- 5Y*
- 2.07%
- 10Y*
- —
DSEEX vs. DLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DSEEX DoubleLine Shiller Enhanced CAPE | -2.04% | 9.49% | 12.84% | 27.03% | -23.24% | 24.91% | 20.94% |
DLY DoubleLine Yield Opportunities Fund | -0.38% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -3.06% |
Correlation
The correlation between DSEEX and DLY is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2020 | 0.38 |
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Return for Risk
DSEEX vs. DLY — Risk / Return Rank
DSEEX
DLY
DSEEX vs. DLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Shiller Enhanced CAPE (DSEEX) and DoubleLine Yield Opportunities Fund (DLY). 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.
| DSEEX | DLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.95 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.31 | -0.29 | +0.60 |
| Martin ratioReturn relative to average drawdown | 1.12 | -0.75 | +1.87 |
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
| DSEEX | DLY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.30 | -0.32 | +0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.15 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.18 | +0.42 |
Drawdowns
DSEEX vs. DLY - Drawdown Comparison
The maximum DSEEX drawdown since its inception was -41.66%, which is greater than DLY's maximum drawdown of -28.61%. Use the drawdown chart below to compare losses from any high point for DSEEX and DLY.
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Drawdown Indicators
| DSEEX | DLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.66% | -28.61% | -13.05% |
Max Drawdown (1Y)Largest decline over 1 year | -10.80% | -8.74% | -2.06% |
Max Drawdown (3Y)Largest decline over 3 years | -14.57% | -10.81% | -3.76% |
Max Drawdown (5Y)Largest decline over 5 years | -41.66% | -28.61% | -13.05% |
Max Drawdown (10Y)Largest decline over 10 years | -41.66% | — | — |
Current DrawdownCurrent decline from peak | -5.33% | -4.48% | -0.85% |
Average DrawdownAverage peak-to-trough decline | -8.47% | -7.82% | -0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | 3.40% | -0.43% |
Volatility
DSEEX vs. DLY - Volatility Comparison
DoubleLine Shiller Enhanced CAPE (DSEEX) has a higher volatility of 2.67% compared to DoubleLine Yield Opportunities Fund (DLY) at 1.93%. This indicates that DSEEX's price experiences larger fluctuations and is considered to be riskier than DLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DSEEX | DLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.67% | 1.93% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 8.29% | 6.85% | +1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.15% | 8.09% | +3.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.84% | 13.57% | +9.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.71% | 15.05% | +6.66% |
DSEEX vs. DLY - Expense Ratio Comparison
DSEEX has a 0.54% expense ratio, which is lower than DLY's 2.91% expense ratio.
Dividends
DSEEX vs. DLY - Dividend Comparison
DSEEX's dividend yield for the trailing twelve months is around 5.04%, less than DLY's 10.07% 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% |
DSEEX DoubleLine Shiller Enhanced CAPE | 5.04% | 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
DSEEX and DLY have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DSEEX has higher volatility (2.67%) compared to DLY (1.93%). In terms of maximum drawdown, DSEEX dropped -41.66% vs DLY's -28.61%.
DSEEX currently has the higher Sharpe Ratio (0.30 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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