ET vs. DLY
ET (Energy Transfer LP) is a stock, while DLY (DoubleLine Yield Opportunities Fund) is Multisector Bonds fund actively managed by DoubleLine. Over the past 5 years, ET returned 24.73%/yr vs 2.37%/yr for DLY. At a 0.21 correlation, their price movements are largely independent.
Performance
ET vs. DLY - Performance Comparison
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Returns By Period
In the year-to-date period, ET achieves a 27.45% return, which is significantly higher than DLY's 1.95% return.
ET
- 1D
- -0.20%
- 1M
- 8.16%
- 6M
- 21.13%
- YTD
- 27.45%
- 1Y
- 25.06%
- 3Y*
- 25.05%
- 5Y*
- 24.73%
- 10Y*
- 10.65%
- ALL TIME*
- 13.86%
DLY
- 1D
- 0.65%
- 1M
- 2.22%
- 6M
- -0.02%
- YTD
- 1.95%
- 1Y
- 1.61%
- 3Y*
- 9.77%
- 5Y*
- 2.37%
- 10Y*
- —
- ALL TIME*
- 3.24%
ET vs. DLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ET Energy Transfer LP | 27.45% | -9.37% | 53.87% | 27.87% | 55.74% | 42.96% | -38.50% |
DLY DoubleLine Yield Opportunities Fund | 1.95% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -1.90% |
Correlation
The correlation between ET and DLY is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2020 | 0.21 |
The correlation between ET and DLY shifts across timeframes, from -0.08 (1 year) to 0.22 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ET vs. DLY — Risk / Return Rank
ET
DLY
ET vs. DLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Energy Transfer LP (ET) 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.
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.
| ET | DLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.34 | ||
| Sortino ratioReturn per unit of downside risk | +1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.04 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 0.18 | +2.75 |
| Martin ratioReturn relative to average drawdown | 6.38 | 0.44 | +5.93 |
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Drawdowns
ET vs. DLY - Drawdown Comparison
The maximum ET drawdown since its inception was -87.81%, which is greater than DLY's maximum drawdown of -28.61%. Use the drawdown chart below to compare losses from any high point for ET and DLY.
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Drawdown Indicators
| ET | DLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.81% | -28.61% | -59.20% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -8.74% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -24.56% | -10.81% | -13.75% |
Max Drawdown (5Y)Largest decline over 5 years | -24.56% | -28.61% | +4.05% |
Max Drawdown (10Y)Largest decline over 10 years | -72.82% | — | — |
Current DrawdownCurrent decline from peak | -0.54% | -2.25% | +1.71% |
Average DrawdownAverage peak-to-trough decline | -25.63% | -7.74% | -17.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.94% | 3.63% | +0.31% |
Volatility
ET vs. DLY - Volatility Comparison
Energy Transfer LP (ET) has a higher volatility of 5.26% compared to DoubleLine Yield Opportunities Fund (DLY) at 1.91%. This indicates that ET'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
| ET | DLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.26% | 1.91% | +3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 12.38% | 6.92% | +5.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.37% | 8.12% | +8.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.40% | 13.54% | +10.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.30% | 14.93% | +19.37% |
Dividends
ET vs. DLY - Dividend Comparison
ET's dividend yield for the trailing twelve months is around 6.58%, less than DLY's 10.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | 10.00% | 9.63% | 8.85% | 9.84% | 10.67% | 7.49% | 5.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ET Energy Transfer LP | 6.58% | 7.97% | 6.51% | 8.95% | 7.33% | 7.41% | 17.27% | 9.51% | 9.24% | 6.66% | 5.90% | 7.42% |
Frequently Asked Questions
ET and DLY have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ET has higher volatility (5.26%) compared to DLY (1.91%). In terms of maximum drawdown, ET dropped -87.81% vs DLY's -28.61%.
ET currently has the higher Sharpe Ratio (1.54 vs 0.20), 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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