SEMPX vs. DFLEX
SEMPX (Semper MBS Total Return Fund) and DFLEX (DoubleLine Flexible Income Fund) are both Nontraditional Bonds funds. Over the past 10 years, SEMPX returned 3.55%/yr vs 3.73%/yr for DFLEX. At a 0.39 correlation, their price movements are largely independent. SEMPX charges 1.07%/yr vs 0.74%/yr for DFLEX.
Performance
SEMPX vs. DFLEX - Performance Comparison
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Returns By Period
In the year-to-date period, SEMPX achieves a 0.90% return, which is significantly lower than DFLEX's 1.61% return. Over the past 10 years, SEMPX has underperformed DFLEX with an annualized return of 3.55%, while DFLEX has yielded a comparatively higher 3.73% annualized return.
SEMPX
- 1D
- -0.12%
- 1M
- 1.05%
- YTD
- 0.90%
- 6M
- 1.36%
- 1Y
- 6.09%
- 3Y*
- 9.57%
- 5Y*
- 4.25%
- 10Y*
- 3.55%
DFLEX
- 1D
- -0.23%
- 1M
- 0.57%
- YTD
- 1.61%
- 6M
- 1.83%
- 1Y
- 5.42%
- 3Y*
- 7.32%
- 5Y*
- 3.17%
- 10Y*
- 3.73%
SEMPX vs. DFLEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SEMPX Semper MBS Total Return Fund | 0.90% | 8.57% | 12.84% | 12.51% | -13.26% | 6.70% | -7.09% | 4.52% | 3.75% | 5.93% |
DFLEX DoubleLine Flexible Income Fund | 1.61% | 6.58% | 8.65% | 7.84% | -8.48% | 3.79% | 2.93% | 7.21% | 0.10% | 5.27% |
Correlation
The correlation between SEMPX and DFLEX is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2014 | 0.39 |
The correlation between SEMPX and DFLEX shifts across timeframes, from 0.39 (all time) to 0.62 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SEMPX vs. DFLEX — Risk / Return Rank
SEMPX
DFLEX
SEMPX vs. DFLEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Semper MBS Total Return Fund (SEMPX) and DoubleLine Flexible Income Fund (DFLEX). 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.
| SEMPX | DFLEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.75 | ||
| Sortino ratioReturn per unit of downside risk | -2.65 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 2.16 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | 5.97 | -2.97 |
| Martin ratioReturn relative to average drawdown | 9.35 | 26.73 | -17.38 |
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Drawdowns
SEMPX vs. DFLEX - Drawdown Comparison
The maximum SEMPX drawdown since its inception was -25.02%, which is greater than DFLEX's maximum drawdown of -17.29%. Use the drawdown chart below to compare losses from any high point for SEMPX and DFLEX.
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Drawdown Indicators
| SEMPX | DFLEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.02% | -17.29% | -7.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.04% | -0.91% | -1.13% |
Max Drawdown (3Y)Largest decline over 3 years | -2.04% | -1.15% | -0.89% |
Max Drawdown (5Y)Largest decline over 5 years | -14.67% | -11.00% | -3.67% |
Max Drawdown (10Y)Largest decline over 10 years | -25.02% | -17.29% | -7.73% |
Current DrawdownCurrent decline from peak | -0.80% | -0.23% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -3.26% | -1.55% | -1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.20% | +0.45% |
Volatility
SEMPX vs. DFLEX - Volatility Comparison
Semper MBS Total Return Fund (SEMPX) has a higher volatility of 0.81% compared to DoubleLine Flexible Income Fund (DFLEX) at 0.57%. This indicates that SEMPX's price experiences larger fluctuations and is considered to be riskier than DFLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SEMPX | DFLEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 0.57% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 2.07% | 1.07% | +1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.75% | 1.37% | +1.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.12% | 1.93% | +1.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.92% | 2.73% | +1.19% |
SEMPX vs. DFLEX - Expense Ratio Comparison
SEMPX has a 1.07% expense ratio, which is higher than DFLEX's 0.74% expense ratio.
Dividends
SEMPX vs. DFLEX - Dividend Comparison
SEMPX's dividend yield for the trailing twelve months is around 5.71%, more than DFLEX's 5.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFLEX DoubleLine Flexible Income Fund | 5.54% | 5.68% | 6.05% | 5.95% | 4.72% | 3.86% | 3.96% | 4.46% | 4.46% | 3.82% | 3.75% | 4.32% |
SEMPX Semper MBS Total Return Fund | 5.71% | 5.83% | 6.66% | 8.75% | 6.15% | 2.97% | 4.07% | 4.72% | 5.65% | 5.00% | 5.94% | 5.10% |
Frequently Asked Questions
SEMPX and DFLEX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SEMPX has higher volatility (0.81%) compared to DFLEX (0.57%). In terms of maximum drawdown, SEMPX dropped -25.02% vs DFLEX's -17.29%.
DFLEX currently has the higher Sharpe Ratio (3.98 vs 2.23), 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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