FOPC vs. DMX

Last updated Aug 1, 2026

FOPC (Frontier Asset Opportunistic Credit ETF) and DMX (DoubleLine Multi-Sector Income ETF) are both Multisector Bonds funds. Both are actively managed. Over the past year, FOPC returned 2.08% vs 5.18% for DMX. Their 0.53 correlation means they have sometimes moved together and sometimes differently. FOPC charges 0.87%/yr vs 0.50%/yr for DMX.

Performance

FOPC vs. DMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Frontier Asset Opportunistic Credit ETF (FOPC) and DoubleLine Multi-Sector Income ETF (DMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FOPC achieves a -0.10% return, which is significantly lower than DMX's 1.92% return.

FOPC

• 1D: -0.24%
• 1M: -0.89%
• 6M: -0.41%
• YTD: -0.10%
• 1Y: 2.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.82%

DMX

• 1D: 0.01%
• 1M: -0.05%
• 6M: 1.50%
• YTD: 1.92%
• 1Y: 5.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.44%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DMX DoubleLine Multi-Sector Income ETF	$403.73K	$467.71K	$603.90K
FOPC Frontier Asset Opportunistic Credit ETF	$45.41K	$57.80K	$62.30K

FOPC vs. DMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FOPC Frontier Asset Opportunistic Credit ETF	-0.10%	6.54%	-0.20%
DMX DoubleLine Multi-Sector Income ETF	1.92%	7.23%	0.27%

Correlation

The correlation between FOPC and DMX is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.56
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024	0.53

The correlation between FOPC and DMX has been stable across timeframes, ranging from 0.53 to 0.56 - a consistent structural relationship.

Return for Risk

FOPC vs. DMX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FOPC

FOPC Risk / Return Rank: 36
FOPC Sharpe Ratio Rank: 38
FOPC Sortino Ratio Rank: 37
FOPC Omega Ratio Rank: 34
FOPC Calmar Ratio Rank: 36
FOPC Martin Ratio Rank: 36

DMX

DMX Risk / Return Rank: 92
DMX Sharpe Ratio Rank: 90
DMX Sortino Ratio Rank: 93
DMX Omega Ratio Rank: 93
DMX Calmar Ratio Rank: 91
DMX Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FOPC vs. DMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Frontier Asset Opportunistic Credit ETF (FOPC) and DoubleLine Multi-Sector Income ETF (DMX). 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.

	FOPC	DMX	Difference
Sharpe ratio: Return per unit of total volatility	0.95	2.27	-1.33
Sortino ratio: Return per unit of downside risk	1.38	3.59	-2.22
Omega ratio: Gain probability vs. loss probability	1.16	1.47	-0.31
Calmar ratio: Return relative to maximum drawdown	1.27	4.15	-2.88
Martin ratio: Return relative to average drawdown	3.68	16.62	-12.94

FOPC vs. DMX - Sharpe Ratio Comparison

The current FOPC Sharpe Ratio is 0.95, which is lower than the DMX Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of FOPC and DMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FOPC vs. DMX - Drawdown Comparison

The maximum FOPC drawdown since its inception was -2.18%, smaller than the maximum DMX drawdown of -2.65%. Use the drawdown chart below to compare losses from any high point for FOPC and DMX.

Drawdown Indicators

	FOPC	DMX	Difference
Max Drawdown Largest peak-to-trough decline	-2.18%	-2.65%	+0.47%
Max Drawdown (1Y) Largest decline over 1 year	-2.18%	-1.28%	-0.90%
Current Drawdown Current decline from peak	-1.52%	-0.32%	-1.20%
Average Drawdown Average peak-to-trough decline	-0.47%	-0.24%	-0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	0.32%	+0.43%

Volatility

FOPC vs. DMX - Volatility Comparison

Frontier Asset Opportunistic Credit ETF (FOPC) has a higher volatility of 0.80% compared to DoubleLine Multi-Sector Income ETF (DMX) at 0.52%. This indicates that FOPC's price experiences larger fluctuations and is considered to be riskier than DMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOPC	DMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	0.52%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	2.38%	1.77%	+0.61%
Volatility (1Y) Calculated over the trailing 1-year period	2.94%	2.35%	+0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.11%	3.04%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.11%	3.04%	+0.07%

FOPC vs. DMX - Expense Ratio Comparison

FOPC has a 0.87% expense ratio, which is higher than DMX's 0.50% expense ratio.

Dividends

FOPC vs. DMX - Dividend Comparison

FOPC's dividend yield for the trailing twelve months is around 4.24%, less than DMX's 5.87% yield.

Position	TTM	2025	2024
DMX DoubleLine Multi-Sector Income ETF	5.36%	5.96%	0.42%
FOPC Frontier Asset Opportunistic Credit ETF	4.24%	4.42%	0.06%

Frequently Asked Questions

Can I hold both FOPC and DMX in my portfolio?

FOPC and DMX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FOPC or DMX?

FOPC has higher volatility (0.80%) compared to DMX (0.52%). In terms of maximum drawdown, FOPC dropped -2.18% vs DMX's -2.65%.

Which ETF is better, FOPC or DMX?

On 1-year performance, DMX leads with 5.18% vs 2.08% for FOPC. On fees, DMX is cheaper at 0.50% per year. On volatility, DMX has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FOPC or DMX?

Over the 1-year period, DMX has performed better with a 5.18% return vs 2.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FOPC or DMX?

DMX is cheaper with a 0.50% expense ratio, compared with 0.87% for FOPC.

Which ETF pays a higher dividend yield, FOPC or DMX?

DMX has the higher dividend yield at 5.36%, compared with 4.24% for FOPC.

What is the main difference between FOPC and DMX?

They also come from different issuers: Frontier and DoubleLine. Their fees differ too: 0.87% for FOPC and 0.50% for DMX.

Which has better risk-adjusted returns?

DMX currently has the higher Sharpe Ratio (2.27 vs 0.95), 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.