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 0.79%/yr vs 2.06%/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
In the year-to-date period, WIW achieves a 2.40% return, which is significantly higher than DLY's -0.45% return.
WIW
- 1D
- 0.12%
- 1M
- 0.27%
- YTD
- 2.40%
- 6M
- 1.14%
- 1Y
- 7.76%
- 3Y*
- 7.49%
- 5Y*
- 0.79%
- 10Y*
- 4.09%
DLY
- 1D
- -0.07%
- 1M
- -1.30%
- YTD
- -0.45%
- 6M
- 0.01%
- 1Y
- -2.61%
- 3Y*
- 9.13%
- 5Y*
- 2.06%
- 10Y*
- —
WIW vs. DLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
WIW Western Asset Inflation-Linked Opportunities & Income Fund | 2.40% | 13.17% | 3.83% | 5.10% | -25.30% | 17.66% | 8.53% |
DLY DoubleLine Yield Opportunities Fund | -0.45% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -3.06% |
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 | 0.32 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 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.
| WIW | DLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +2.06 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.95 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | -0.30 | +2.46 |
| Martin ratioReturn relative to average drawdown | 5.75 | -0.77 | +6.51 |
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
| WIW | DLY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | -0.32 | +1.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.15 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.18 | +0.14 |
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 | -5.53% | -4.55% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -7.97% | -7.82% | -0.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.36% | 3.41% | -2.05% |
Volatility
WIW vs. DLY - Volatility Comparison
The current volatility for Western Asset Inflation-Linked Opportunities & Income Fund (WIW) is 1.76%, while DoubleLine Yield Opportunities Fund (DLY) has a volatility of 1.92%. 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 | 1.76% | 1.92% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 4.32% | 6.85% | -2.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.93% | 8.09% | -1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.17% | 13.57% | -3.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.98% | 15.05% | -5.07% |
Dividends
WIW vs. DLY - Dividend Comparison
WIW's dividend yield for the trailing twelve months is around 8.84%, less than DLY's 10.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | 10.07% | 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 | 8.84% | 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 (1.92%) compared to WIW (1.76%). In terms of maximum drawdown, WIW dropped -29.49% vs DLY's -28.61%.
WIW currently has the higher Sharpe Ratio (1.13 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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