WIW vs. DLY
WIW (Western Asset Inflation-Linked Opportunities & Income Fund) and DLY (DoubleLine Yield Opportunities Fund) are both mutual funds - WIW is a Inflation-Protected Bonds fund, while DLY is a Multisector Bonds fund actively managed by DoubleLine. Over the past 5 years, WIW returned 0.32%/yr vs 2.61%/yr for DLY. At a 0.28 correlation, their price movements are largely independent.
Performance
WIW vs. DLY - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with WIW having a 1.71% return and DLY slightly lower at 1.66%.
WIW
- 1D
- 0.12%
- 1M
- -0.44%
- 6M
- 1.59%
- YTD
- 1.71%
- 1Y
- 3.50%
- 3Y*
- 6.46%
- 5Y*
- 0.32%
- 10Y*
- 3.83%
DLY
- 1D
- -0.43%
- 1M
- 1.32%
- 6M
- -0.31%
- YTD
- 1.66%
- 1Y
- 0.00%
- 3Y*
- 8.94%
- 5Y*
- 2.61%
- 10Y*
- —
WIW vs. DLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
WIW Western Asset Inflation-Linked Opportunities & Income Fund | 1.71% | 13.17% | 3.83% | 5.10% | -25.30% | 17.66% | 7.98% |
DLY DoubleLine Yield Opportunities Fund | 1.66% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -1.90% |
Correlation
The correlation between WIW and DLY is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2020 | 0.28 |
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Return for Risk
WIW vs. DLY — Risk / Return Rank
WIW
DLY
WIW vs. DLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset Inflation-Linked Opportunities & Income Fund (WIW) 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.
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.
| WIW | DLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.01 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 0.00 | +0.97 |
| Martin ratioReturn relative to average drawdown | 2.49 | 0.00 | +2.49 |
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Drawdowns
WIW vs. DLY - Drawdown Comparison
The maximum WIW drawdown since its inception was -29.49%, roughly equal to the maximum DLY drawdown of -28.61%. Use the drawdown chart below to compare losses from any high point for WIW and DLY.
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Drawdown Indicators
| WIW | DLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.49% | -28.61% | -0.88% |
Max Drawdown (1Y)Largest decline over 1 year | -3.61% | -8.74% | +5.13% |
Max Drawdown (3Y)Largest decline over 3 years | -8.65% | -10.81% | +2.16% |
Max Drawdown (5Y)Largest decline over 5 years | -29.49% | -28.61% | -0.88% |
Max Drawdown (10Y)Largest decline over 10 years | -29.49% | — | — |
Current DrawdownCurrent decline from peak | -6.17% | -2.53% | -3.64% |
Average DrawdownAverage peak-to-trough decline | -7.96% | -7.74% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 3.62% | -2.21% |
Volatility
WIW vs. DLY - Volatility Comparison
The current volatility for Western Asset Inflation-Linked Opportunities & Income Fund (WIW) is 1.66%, while DoubleLine Yield Opportunities Fund (DLY) has a volatility of 1.82%. This indicates that WIW 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
| WIW | DLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 1.82% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 4.29% | 6.91% | -2.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.88% | 8.20% | -1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.11% | 13.57% | -3.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.98% | 14.94% | -4.96% |
Dividends
WIW vs. DLY - Dividend Comparison
WIW's dividend yield for the trailing twelve months is around 8.97%, less than DLY's 10.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | 10.03% | 9.63% | 8.85% | 9.84% | 10.67% | 7.49% | 5.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WIW Western Asset Inflation-Linked Opportunities & Income Fund | 8.97% | 8.68% | 8.78% | 10.38% | 11.81% | 6.93% | 3.20% | 3.74% | 4.26% | 3.70% | 3.61% | 3.91% |
Frequently Asked Questions
WIW and DLY have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DLY has higher volatility (1.82%) compared to WIW (1.66%). In terms of maximum drawdown, WIW dropped -29.49% vs DLY's -28.61%.
WIW currently has the higher Sharpe Ratio (0.51 vs 0.00), 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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