TOTL vs. DBND
TOTL (State Street DoubleLine Total Return Tactical ETF) and DBND (DoubleLine Opportunistic Bond ETF) are both Intermediate Core-Plus Bond funds. TOTL is actively managed, while DBND is passively managed. Over the past 3 years, TOTL returned 4.41%/yr vs 4.54%/yr for DBND. Their correlation of 0.90 suggests significant overlap in exposure. TOTL charges 0.55%/yr vs 0.50%/yr for DBND.
Performance
TOTL vs. DBND - Performance Comparison
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Returns By Period
In the year-to-date period, TOTL achieves a -0.26% return, which is significantly lower than DBND's -0.12% return.
TOTL
- 1D
- 0.10%
- 1M
- -0.02%
- YTD
- -0.26%
- 6M
- -0.05%
- 1Y
- 4.31%
- 3Y*
- 4.41%
- 5Y*
- 0.64%
- 10Y*
- 1.65%
DBND
- 1D
- 0.09%
- 1M
- 0.07%
- YTD
- -0.12%
- 6M
- 0.14%
- 1Y
- 4.38%
- 3Y*
- 4.54%
- 5Y*
- —
- 10Y*
- —
TOTL vs. DBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TOTL State Street DoubleLine Total Return Tactical ETF | -0.26% | 7.68% | 3.15% | 5.55% | -6.23% |
DBND DoubleLine Opportunistic Bond ETF | -0.12% | 7.41% | 3.06% | 6.33% | -5.93% |
Correlation
The correlation between TOTL and DBND is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2022 | 0.90 |
The correlation between TOTL and DBND has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
TOTL vs. DBND — Risk / Return Rank
TOTL
DBND
TOTL vs. DBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street DoubleLine Total Return Tactical ETF (TOTL) and DoubleLine Opportunistic Bond ETF (DBND). 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.
| TOTL | DBND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.24 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | 1.55 | -0.13 |
| Martin ratioReturn relative to average drawdown | 4.37 | 4.58 | -0.21 |
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
| TOTL | DBND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.27 | 1.35 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.48 | -0.11 |
Drawdowns
TOTL vs. DBND - Drawdown Comparison
The maximum TOTL drawdown since its inception was -16.48%, which is greater than DBND's maximum drawdown of -9.39%. Use the drawdown chart below to compare losses from any high point for TOTL and DBND.
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Drawdown Indicators
| TOTL | DBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -9.39% | -7.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.04% | -2.83% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -6.60% | -6.25% | -0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -16.48% | — | — |
Current DrawdownCurrent decline from peak | -1.89% | -1.71% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -2.27% | -0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 0.96% | +0.03% |
Volatility
TOTL vs. DBND - Volatility Comparison
State Street DoubleLine Total Return Tactical ETF (TOTL) has a higher volatility of 1.17% compared to DoubleLine Opportunistic Bond ETF (DBND) at 1.08%. This indicates that TOTL's price experiences larger fluctuations and is considered to be riskier than DBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TOTL | DBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.08% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.45% | 2.33% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.44% | 3.30% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.59% | 5.09% | +0.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.78% | 5.09% | -0.31% |
TOTL vs. DBND - Expense Ratio Comparison
TOTL has a 0.55% expense ratio, which is higher than DBND's 0.50% expense ratio.
Dividends
TOTL vs. DBND - Dividend Comparison
TOTL's dividend yield for the trailing twelve months is around 5.29%, more than DBND's 4.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBND DoubleLine Opportunistic Bond ETF | 4.78% | 4.78% | 5.19% | 4.39% | 2.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TOTL State Street DoubleLine Total Return Tactical ETF | 5.29% | 5.23% | 5.35% | 4.85% | 4.68% | 3.07% | 2.91% | 3.31% | 3.41% | 3.00% | 3.25% | 2.67% |
Frequently Asked Questions
With a correlation of 0.94, TOTL and DBND move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
TOTL has higher volatility (1.17%) compared to DBND (1.08%). In terms of maximum drawdown, TOTL dropped -16.48% vs DBND's -9.39%.
On 3-year performance, DBND leads with 4.54% vs 4.41% for TOTL. On fees, DBND is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DBND has performed better with a 4.54% return vs 4.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBND is cheaper with a 0.50% expense ratio, compared with 0.55% for TOTL.
TOTL has the higher dividend yield at 5.29%, compared with 4.78% for DBND.
They also come from different issuers: State Street and DoubleLine. Their fees differ too: 0.55% for TOTL and 0.50% for DBND.
DBND currently has the higher Sharpe Ratio (1.35 vs 1.27), 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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