MOFIX vs. DLY
MOFIX (Mercer Opportunistic Fixed Income Fund) and DLY (DoubleLine Yield Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, MOFIX returned 1.42%/yr vs 2.06%/yr for DLY. At a 0.30 correlation, their price movements are largely independent. MOFIX charges 0.44%/yr vs 2.91%/yr for DLY.
Performance
MOFIX vs. DLY - Performance Comparison
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Returns By Period
In the year-to-date period, MOFIX achieves a -1.18% return, which is significantly lower than DLY's -0.45% return.
MOFIX
- 1D
- -0.12%
- 1M
- 0.12%
- YTD
- -1.18%
- 6M
- -0.56%
- 1Y
- 3.10%
- 3Y*
- 5.57%
- 5Y*
- 1.42%
- 10Y*
- —
DLY
- 1D
- -0.07%
- 1M
- -1.30%
- YTD
- -0.45%
- 6M
- 0.01%
- 1Y
- -2.61%
- 3Y*
- 9.13%
- 5Y*
- 2.06%
- 10Y*
- —
MOFIX vs. DLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MOFIX Mercer Opportunistic Fixed Income Fund | -1.18% | 8.60% | 2.23% | 12.22% | -11.57% | -1.15% | 5.54% |
DLY DoubleLine Yield Opportunities Fund | -0.45% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -3.06% |
Correlation
The correlation between MOFIX and DLY is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2020 | 0.30 |
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Return for Risk
MOFIX vs. DLY — Risk / Return Rank
MOFIX
DLY
MOFIX vs. DLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mercer Opportunistic Fixed Income Fund (MOFIX) 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.
| MOFIX | DLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.64 | ||
| Sortino ratioReturn per unit of downside risk | +2.39 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.95 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | -0.30 | +1.42 |
| Martin ratioReturn relative to average drawdown | 3.47 | -0.77 | +4.24 |
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
| MOFIX | DLY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | -0.32 | +1.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.15 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.18 | +0.14 |
Drawdowns
MOFIX vs. DLY - Drawdown Comparison
The maximum MOFIX drawdown since its inception was -19.96%, smaller than the maximum DLY drawdown of -28.61%. Use the drawdown chart below to compare losses from any high point for MOFIX and DLY.
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Drawdown Indicators
| MOFIX | DLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.96% | -28.61% | +8.65% |
Max Drawdown (1Y)Largest decline over 1 year | -3.52% | -8.74% | +5.22% |
Max Drawdown (3Y)Largest decline over 3 years | -8.02% | -10.81% | +2.79% |
Max Drawdown (5Y)Largest decline over 5 years | -19.00% | -28.61% | +9.61% |
Current DrawdownCurrent decline from peak | -1.64% | -4.55% | +2.91% |
Average DrawdownAverage peak-to-trough decline | -5.17% | -7.82% | +2.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 3.41% | -2.34% |
Volatility
MOFIX vs. DLY - Volatility Comparison
The current volatility for Mercer Opportunistic Fixed Income Fund (MOFIX) is 0.97%, while DoubleLine Yield Opportunities Fund (DLY) has a volatility of 1.92%. This indicates that MOFIX experiences smaller price fluctuations and is considered to be less risky 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
| MOFIX | DLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 1.92% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 2.36% | 6.85% | -4.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.00% | 8.09% | -5.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.26% | 13.57% | -6.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.18% | 15.05% | -7.87% |
MOFIX vs. DLY - Expense Ratio Comparison
MOFIX has a 0.44% expense ratio, which is lower than DLY's 2.91% expense ratio.
Dividends
MOFIX vs. DLY - Dividend Comparison
MOFIX's dividend yield for the trailing twelve months is around 3.36%, less than DLY's 10.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | 10.07% | 9.63% | 8.85% | 9.84% | 10.67% | 7.49% | 5.67% |
MOFIX Mercer Opportunistic Fixed Income Fund | 3.36% | 3.32% | 6.91% | 6.44% | 3.81% | 4.20% | 0.00% |
Frequently Asked Questions
MOFIX and DLY have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DLY has higher volatility (1.92%) compared to MOFIX (0.97%). In terms of maximum drawdown, MOFIX dropped -19.96% vs DLY's -28.61%.
MOFIX currently has the higher Sharpe Ratio (1.31 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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