NCICX vs. DLSNX
NCICX (New Covenant Income Fund) and DLSNX (DoubleLine Low Duration Bond Fund Class N) are both Short-Term Bond funds. Over the past 10 years, NCICX returned 1.37%/yr vs 2.58%/yr for DLSNX. A 0.54 correlation means they provide meaningful diversification when combined. NCICX charges 0.96%/yr vs 0.70%/yr for DLSNX.
Performance
NCICX vs. DLSNX - Performance Comparison
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Returns By Period
In the year-to-date period, NCICX achieves a -0.20% return, which is significantly lower than DLSNX's 0.96% return. Over the past 10 years, NCICX has underperformed DLSNX with an annualized return of 1.37%, while DLSNX has yielded a comparatively higher 2.58% annualized return.
NCICX
- 1D
- -0.19%
- 1M
- 0.28%
- YTD
- -0.20%
- 6M
- 0.16%
- 1Y
- 3.70%
- 3Y*
- 4.06%
- 5Y*
- 0.19%
- 10Y*
- 1.37%
DLSNX
- 1D
- -0.10%
- 1M
- 0.23%
- YTD
- 0.96%
- 6M
- 1.14%
- 1Y
- 3.72%
- 3Y*
- 5.14%
- 5Y*
- 2.91%
- 10Y*
- 2.58%
NCICX vs. DLSNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCICX New Covenant Income Fund | -0.20% | 7.13% | 2.13% | 5.15% | -11.32% | -2.06% | 5.93% | 7.16% | -0.10% | 2.51% |
DLSNX DoubleLine Low Duration Bond Fund Class N | 0.96% | 5.49% | 5.06% | 6.50% | -3.04% | 0.56% | 1.76% | 4.47% | 1.15% | 2.30% |
Correlation
The correlation between NCICX and DLSNX is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2011 | 0.54 |
The correlation between NCICX and DLSNX shifts across timeframes, from 0.54 (all time) to 0.76 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
NCICX vs. DLSNX — Risk / Return Rank
NCICX
DLSNX
NCICX vs. DLSNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for New Covenant Income Fund (NCICX) and DoubleLine Low Duration Bond Fund Class N (DLSNX). 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.
| NCICX | DLSNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -3.42 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.88 | -0.67 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 5.31 | -3.75 |
| Martin ratioReturn relative to average drawdown | 4.36 | 24.98 | -20.62 |
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Drawdowns
NCICX vs. DLSNX - Drawdown Comparison
The maximum NCICX drawdown since its inception was -21.12%, which is greater than DLSNX's maximum drawdown of -7.46%. Use the drawdown chart below to compare losses from any high point for NCICX and DLSNX.
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Drawdown Indicators
| NCICX | DLSNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.12% | -7.46% | -13.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -0.72% | -1.79% |
Max Drawdown (3Y)Largest decline over 3 years | -4.71% | -0.72% | -3.99% |
Max Drawdown (5Y)Largest decline over 5 years | -16.08% | -4.91% | -11.17% |
Max Drawdown (10Y)Largest decline over 10 years | -16.36% | -7.46% | -8.90% |
Current DrawdownCurrent decline from peak | -1.73% | -0.21% | -1.52% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -0.41% | -2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 0.15% | +0.75% |
Volatility
NCICX vs. DLSNX - Volatility Comparison
New Covenant Income Fund (NCICX) has a higher volatility of 1.05% compared to DoubleLine Low Duration Bond Fund Class N (DLSNX) at 0.37%. This indicates that NCICX's price experiences larger fluctuations and is considered to be riskier than DLSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCICX | DLSNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 0.37% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 0.90% | +1.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.28% | 1.19% | +2.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.82% | 1.42% | +3.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.80% | 1.57% | +2.23% |
NCICX vs. DLSNX - Expense Ratio Comparison
NCICX has a 0.96% expense ratio, which is higher than DLSNX's 0.70% expense ratio.
Dividends
NCICX vs. DLSNX - Dividend Comparison
NCICX's dividend yield for the trailing twelve months is around 3.29%, less than DLSNX's 4.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLSNX DoubleLine Low Duration Bond Fund Class N | 4.30% | 4.40% | 4.85% | 4.25% | 2.24% | 1.47% | 2.12% | 2.96% | 2.67% | 2.18% | 2.27% | 2.22% |
NCICX New Covenant Income Fund | 3.29% | 3.24% | 3.17% | 2.79% | 1.51% | 1.46% | 3.17% | 2.43% | 2.26% | 1.92% | 1.72% | 1.80% |
Frequently Asked Questions
NCICX and DLSNX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NCICX has higher volatility (1.05%) compared to DLSNX (0.37%). In terms of maximum drawdown, NCICX dropped -21.12% vs DLSNX's -7.46%.
DLSNX currently has the higher Sharpe Ratio (3.24 vs 1.20), 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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