DSL vs. EMB
DSL (DoubleLine Income Solutions Fund) and EMB (iShares J.P. Morgan USD Emerging Markets Bond ETF) are both funds - DSL is a High Yield Bonds fund managed by DoubleLine, while EMB is a Emerging Markets Bonds fund tracking the JPMorgan EMBI Global Core Index. Over the past 10 years, DSL returned 5.21%/yr vs 3.19%/yr for EMB. At a 0.39 correlation, their price movements are largely independent. DSL charges 2.28%/yr vs 0.39%/yr for EMB.
Performance
DSL vs. EMB - Performance Comparison
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Returns By Period
In the year-to-date period, DSL achieves a 1.29% return, which is significantly higher than EMB's 1.14% return. Over the past 10 years, DSL has outperformed EMB with an annualized return of 5.21%, while EMB has yielded a comparatively lower 3.19% annualized return.
DSL
- 1D
- -0.09%
- 1M
- -1.36%
- YTD
- 1.29%
- 6M
- 2.38%
- 1Y
- -0.92%
- 3Y*
- 8.54%
- 5Y*
- 0.87%
- 10Y*
- 5.21%
EMB
- 1D
- -0.13%
- 1M
- -0.48%
- YTD
- 1.14%
- 6M
- 1.92%
- 1Y
- 10.87%
- 3Y*
- 9.37%
- 5Y*
- 1.62%
- 10Y*
- 3.19%
DSL vs. EMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DSL DoubleLine Income Solutions Fund | 1.29% | -0.01% | 15.00% | 23.41% | -22.61% | 7.39% | -6.49% | 25.10% | -6.04% | 16.39% |
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 1.14% | 13.85% | 5.54% | 10.62% | -18.63% | -2.23% | 5.42% | 15.48% | -5.47% | 10.28% |
Correlation
The correlation between DSL and EMB is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2013 | 0.39 |
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Return for Risk
DSL vs. EMB — Risk / Return Rank
DSL
EMB
DSL vs. EMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Income Solutions Fund (DSL) and iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB). 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.
| DSL | EMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -2.91 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.38 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.08 | 2.42 | -2.50 |
| Martin ratioReturn relative to average drawdown | -0.17 | 10.32 | -10.48 |
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
| DSL | EMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.10 | 1.95 | -2.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 0.17 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | 0.32 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.43 | -0.23 |
Drawdowns
DSL vs. EMB - Drawdown Comparison
The maximum DSL drawdown since its inception was -49.51%, which is greater than EMB's maximum drawdown of -34.70%. Use the drawdown chart below to compare losses from any high point for DSL and EMB.
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Drawdown Indicators
| DSL | EMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.51% | -34.70% | -14.81% |
Max Drawdown (1Y)Largest decline over 1 year | -11.16% | -4.51% | -6.65% |
Max Drawdown (3Y)Largest decline over 3 years | -14.43% | -7.95% | -6.48% |
Max Drawdown (5Y)Largest decline over 5 years | -34.18% | -28.74% | -5.44% |
Max Drawdown (10Y)Largest decline over 10 years | -49.51% | -28.74% | -20.77% |
Current DrawdownCurrent decline from peak | -6.46% | -1.02% | -5.44% |
Average DrawdownAverage peak-to-trough decline | -8.74% | -5.06% | -3.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.59% | 1.06% | +4.53% |
Volatility
DSL vs. EMB - Volatility Comparison
DoubleLine Income Solutions Fund (DSL) has a higher volatility of 3.53% compared to iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) at 1.76%. This indicates that DSL's price experiences larger fluctuations and is considered to be riskier than EMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DSL | EMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.53% | 1.76% | +1.77% |
Volatility (6M)Calculated over the trailing 6-month period | 7.56% | 4.57% | +2.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.28% | 5.60% | +3.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.84% | 9.75% | +5.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.10% | 9.96% | +10.14% |
DSL vs. EMB - Expense Ratio Comparison
DSL has a 2.28% expense ratio, which is higher than EMB's 0.39% expense ratio.
Dividends
DSL vs. EMB - Dividend Comparison
DSL's dividend yield for the trailing twelve months is around 12.14%, more than EMB's 5.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DSL DoubleLine Income Solutions Fund | 12.14% | 11.71% | 11.38% | 10.78% | 13.67% | 10.74% | 10.69% | 9.33% | 10.39% | 9.11% | 9.53% | 11.63% |
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 5.09% | 4.98% | 5.46% | 4.74% | 5.04% | 3.89% | 3.88% | 4.51% | 5.64% | 4.54% | 4.83% | 4.84% |
Frequently Asked Questions
DSL and EMB have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DSL has higher volatility (3.53%) compared to EMB (1.76%). In terms of maximum drawdown, DSL dropped -49.51% vs EMB's -34.70%.
EMB currently has the higher Sharpe Ratio (1.95 vs -0.10), 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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