DSL vs. PSHNX
DSL (DoubleLine Income Solutions Fund) and PSHNX (Penn Capital Short Duration High Income Fund) are both High Yield Bonds funds. Over the past 5 years, DSL returned 1.14%/yr vs 4.81%/yr for PSHNX. Their 0.38 correlation means their historical movements had little consistent relationship. DSL charges 2.28%/yr vs 1.01%/yr for PSHNX.
Performance
DSL vs. PSHNX - Performance Comparison
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Returns By Period
In the year-to-date period, DSL achieves a 1.45% return, which is significantly lower than PSHNX's 2.16% return.
DSL
- 1D
- -0.28%
- 1M
- -2.10%
- 6M
- -1.37%
- YTD
- 1.45%
- 1Y
- -1.01%
- 3Y*
- 7.37%
- 5Y*
- 1.14%
- 10Y*
- 4.86%
- ALL TIME*
- 3.86%
PSHNX
- 1D
- 0.05%
- 1M
- 0.05%
- 6M
- 1.85%
- YTD
- 2.16%
- 1Y
- 5.54%
- 3Y*
- 7.00%
- 5Y*
- 4.81%
- 10Y*
- —
- ALL TIME*
- 3.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.15M | $6.19M | $5.58M | |
| $0.00 | $0.00 | $0.00 |
DSL vs. PSHNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DSL DoubleLine Income Solutions Fund | 1.45% | -0.01% | 15.00% | 23.41% | -22.61% | 7.39% | -6.49% | 25.10% | -6.04% | 0.20% |
PSHNX Penn Capital Short Duration High Income Fund | 2.16% | 7.72% | 7.19% | 8.72% | -2.26% | 3.43% | 0.88% | 7.40% | 0.61% | 0.65% |
Correlation
The correlation between DSL and PSHNX is 0.43, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.43 |
Correlation (3Y) Balances recent behavior with more history. | 0.39 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2017 | 0.38 |
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Return for Risk
DSL vs. PSHNX — Risk / Return Rank
DSL
PSHNX
DSL vs. PSHNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Income Solutions Fund (DSL) and Penn Capital Short Duration High Income Fund (PSHNX). 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.
| DSL | PSHNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.03 | ||
| Sortino ratioReturn per unit of downside risk | -4.73 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.69 | -0.71 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 4.73 | -4.86 |
| Martin ratioReturn relative to average drawdown | -0.24 | 24.06 | -24.30 |
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Drawdowns
DSL vs. PSHNX - Drawdown Comparison
The maximum DSL drawdown since its inception was -49.51%, which is greater than PSHNX's maximum drawdown of -14.53%. Use the drawdown chart below to compare losses from any high point for DSL and PSHNX.
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Drawdown Indicators
| DSL | PSHNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.51% | -14.53% | -34.98% |
Max Drawdown (1Y)Largest decline over 1 year | -11.16% | -1.14% | -10.02% |
Max Drawdown (3Y)Largest decline over 3 years | -14.43% | -2.83% | -11.60% |
Max Drawdown (5Y)Largest decline over 5 years | -34.18% | -6.02% | -28.16% |
Max Drawdown (10Y)Largest decline over 10 years | -49.51% | — | — |
Current DrawdownCurrent decline from peak | -6.31% | -0.05% | -6.26% |
Average DrawdownAverage peak-to-trough decline | -8.70% | -0.87% | -7.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.99% | 0.22% | +5.77% |
Volatility
DSL vs. PSHNX - Volatility Comparison
DoubleLine Income Solutions Fund (DSL) has a higher volatility of 3.08% compared to Penn Capital Short Duration High Income Fund (PSHNX) at 0.42%. This indicates that DSL's price experiences larger fluctuations and is considered to be riskier than PSHNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DSL | PSHNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 0.42% | +2.66% |
Volatility (6M)Calculated over the trailing 6-month period | 8.23% | 1.49% | +6.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.80% | 1.88% | +7.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.81% | 2.65% | +12.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.09% | 3.13% | +16.96% |
DSL vs. PSHNX - Expense Ratio Comparison
DSL has a 2.28% expense ratio, which is higher than PSHNX's 1.01% expense ratio.
Dividends
DSL vs. PSHNX - Dividend Comparison
DSL's dividend yield for the trailing twelve months is around 12.37%, more than PSHNX's 5.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DSL DoubleLine Income Solutions Fund | 12.37% | 11.71% | 11.38% | 10.78% | 13.67% | 10.74% | 10.69% | 9.33% | 10.39% | 9.11% | 9.53% | 11.63% |
PSHNX Penn Capital Short Duration High Income Fund | 5.97% | 6.27% | 6.43% | 4.95% | 3.47% | 3.17% | 3.95% | 3.65% | 3.13% | 1.46% | 0.00% | 0.00% |
Frequently Asked Questions
DSL and PSHNX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DSL has higher volatility (3.08%) compared to PSHNX (0.42%). In terms of maximum drawdown, DSL dropped -49.51% vs PSHNX's -14.53%.
PSHNX currently has the higher Sharpe Ratio (2.88 vs -0.15), 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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