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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$9.12

$39.3 B

3.72%

$0.34

0.50%

Vitals

YTD Return

4.0%

1 yr return

-10.3%

3 Yr Avg Return

-5.4%

5 Yr Avg Return

-2.7%

Net Assets

$39.3 B

Holdings in Top 10

13.0%

52 WEEK LOW AND HIGH

$9.1
$8.57
$10.18

Expenses

OPERATING FEES

Expense Ratio 0.50%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 89.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

$5,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$9.12

$39.3 B

3.72%

$0.34

0.50%

DBLTX - Profile

Distributions

  • YTD Total Return 4.0%
  • 3 Yr Annualized Total Return -5.4%
  • 5 Yr Annualized Total Return -1.9%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.75%
DIVIDENDS
  • Dividend Yield 3.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    DoubleLine Total Return Bond Fund
  • Fund Family Name
    DoubleLine
  • Inception Date
    Apr 06, 2010
  • Shares Outstanding
    3486530450
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Jeffrey Gundlach

Fund Description

Under normal circumstances, the Fund intends to invest more than 50% of its net assets in residential and commercial mortgage-backed securities and U.S. Treasury obligations rated at the time of investment Aa3 or higher by Moody’s Investors Service, Inc. (“Moodys”) or AA‑ or higher by S&P Global Ratings (“S&P”) or the equivalent by any other nationally recognized statistical rating organization or unrated securities that are determined by DoubleLine Capital LP (the “Adviser” or “DoubleLine Capital”) to be of comparable quality. These investments may include mortgage-backed securities of any maturity or type, including those guaranteed by, or secured by collateral that is guaranteed by, the United States Government, its agencies, instrumentalities or sponsored corporations, and privately issued mortgage-backed securities. These investments also include, among others, government mortgage pass-through securities, collateralized mortgage obligations, multiclass pass-through securities, private mortgage pass-through securities, stripped mortgage securities (interest-only and principal-only securities) and inverse floaters. 
Since the Fund’s inception, the Fund has historically invested substantially all of its assets in mortgage-backed securities; short term investments, such as notes issued by U.S. Government agencies and shares of money market funds; and other asset-backed obligations, collateralized loan obligations, obligations of the U.S. Government and its agencies, instrumentalities and sponsored corporations, and futures contracts. The Fund may invest in other instruments as part of its principal investment strategies, but it has not historically done so to a significant extent and there can be no assurance it will do so in the future. 
In managing the Fund’s portfolio, the portfolio managers typically use a controlled risk approach. The techniques of this approach attempt to control the principal risk components of the fixed income markets and may include, among other factors, consideration of the Adviser’s view of the following: the potential relative performance of various market sectors, security selection available within a given sector, the risk/reward equation for different asset classes, liquidity conditions in various market sectors, the shape of the yield curve and projections for changes in the yield curve, potential fluctuations in the overall level of interest rates, and current fiscal policy. 
Under normal circumstances, the Fund intends to invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in bonds. “Bonds” include bonds, debt securities, and other fixed income instruments issued by governmental or private-sector entities. If the Fund changes this investment policy, it will notify shareholders at least 60 days in advance of the change. 
The Fund may invest in bonds of any credit quality, including those that are at the time of investment unrated or rated BB+ or lower by S&P or Ba1 or lower by Moody’s or the equivalent by any other nationally recognized statistical rating organization. Bonds and fixed income instruments rated below investment grade, or such instruments that are unrated and determined by the Adviser to be of comparable quality, are high yield, high risk bonds, commonly known as “junk bonds.” The Fund may invest up to 33 1/3% of its net assets in junk bonds, bank loans and assignments rated below investment grade or unrated but determined by the Adviser to be of comparable quality, and credit default swaps of companies in the high yield universe. The Adviser does not consider the term “junk bonds” to include any mortgage-backed securities or any other asset-backed securities, regardless of their credit rating or credit quality, and accordingly may invest without limit in such investments. The Fund may invest a portion of its assets in inverse floater securities and interest-only and principal-only securities. 
The Adviser monitors the duration of the Fund’s portfolio securities to seek to assess and, in its discretion, adjust the Fund’s exposure to interest rate risk. The Adviser may seek to manage the dollar-weighted average effective duration of the Fund’s portfolio through the use of derivative instruments and other investments (including, among others, inverse floaters, futures contracts, U.S. Treasury swaps, interest rate swaps, total return swaps and options, including options on swap agreements). The Fund incurs costs in implementing duration management strategies, and there can be no assurance that the Fund will engage in duration management strategies or that any duration management strategy 
employed by the Fund will be successful. In managing the Fund’s investments, under normal market conditions, the portfolio managers intend to seek to construct an investment portfolio with a dollar-weighted average effective duration of no less than one year and no more than eight years. Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a security’s price to changes in interest rates. Effective duration is a measure of the Fund’s portfolio duration adjusted for the anticipated effect of interest rate changes on bond and mortgage prepayment rates as determined by the Adviser. The effective duration of the Fund’s investment portfolio may vary materially from its target range, from time to time, and there is no assurance that the effective duration of the Fund’s investment portfolio will always be within its target range. 
The Fund may enter into derivatives transactions and other instruments of any kind for hedging purposes or otherwise to gain, or reduce, long or short exposure to one or more asset classes or issuers. The Fund may use derivatives transactions with the purpose or effect of creating investment leverage. For example, the Fund may use futures contracts and options on futures contracts, in order to gain efficient long or short investment exposures as an alternative to cash investments or to hedge against portfolio exposures; interest rate swaps, to gain indirect long or short exposures to interest rates, issuers, or currencies, or to hedge against portfolio exposures; and total return swaps and credit derivatives (such as credit default swaps), put and call options, and exchange-traded and structured notes, to take indirect long or short positions on indexes, securities, currencies, or other indicators of value, or to hedge against portfolio exposures. The Fund may also engage in short sales or take short positions, either to adjust its duration or for other investment purposes. 
Portfolio securities may be sold at any time. By way of example, sales may occur when the Fund’s portfolio managers determine to take advantage of what the portfolio managers consider to be a better investment opportunity, when the portfolio managers believe the portfolio securities no longer represent relatively attractive investment opportunities, when the portfolio managers perceive deterioration in the credit fundamentals of the issuer, or when the portfolio managers believe it would be appropriate to do so in order to readjust the duration of the Fund’s investment portfolio. 
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DBLTX - Performance

Return Ranking - Trailing

Period DBLTX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.0% -50.1% 10.2% 46.67%
1 Yr -10.3% -27.7% 149.2% 65.06%
3 Yr -5.4%* -12.7% 106.0% 82.01%
5 Yr -2.7%* -9.3% 56.1% 90.01%
10 Yr -2.2%* -7.1% 12.7% 91.37%

* Annualized

Return Ranking - Calendar

Period DBLTX Return Category Return Low Category Return High Rank in Category (%)
2022 -15.7% -75.2% 1360.6% 43.88%
2021 -1.4% -14.5% 1027.9% 31.05%
2020 0.2% -9.6% 118.7% 93.26%
2019 0.5% -11.4% 5.8% 92.24%
2018 -0.4% -49.5% 12.4% 13.93%

Total Return Ranking - Trailing

Period DBLTX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.0% -50.1% 10.2% 50.59%
1 Yr -10.3% -27.7% 149.2% 64.97%
3 Yr -5.4%* -12.7% 106.0% 82.01%
5 Yr -1.9%* -9.3% 56.1% 61.39%
10 Yr 0.3%* -7.1% 13.5% 18.37%

* Annualized

Total Return Ranking - Calendar

Period DBLTX Return Category Return Low Category Return High Rank in Category (%)
2022 -15.7% -75.2% 131.9% 42.84%
2021 -1.4% -14.5% 1027.9% 31.05%
2020 0.2% -9.6% 118.7% 93.26%
2019 0.7% -11.4% 5.8% 90.45%
2018 0.3% -7.0% 12.4% 3.48%

NAV & Total Return History


DBLTX - Holdings

Concentration Analysis

DBLTX Category Low Category High DBLTX % Rank
Net Assets 39.3 B 1.19 M 287 B 4.76%
Number of Holdings 2878 1 17234 11.20%
Net Assets in Top 10 5.19 B -106 M 27.6 B 8.04%
Weighting of Top 10 12.97% 3.7% 100.0% 90.73%

Top 10 Holdings

  1. United States Treasury Notes 1.88% 1.88% 3.24%
  2. Fncl 2 11/20 3.12%
  3. Fncl 2 11/20 3.12%
  4. Fncl 2 11/20 3.12%
  5. Fncl 2 11/20 3.12%
  6. Fncl 2 11/20 3.12%
  7. Fncl 2 11/20 3.12%
  8. Fncl 2 11/20 3.12%
  9. Fncl 2 11/20 3.12%
  10. Fncl 2 11/20 3.12%

Asset Allocation

Weighting Return Low Return High DBLTX % Rank
Bonds
99.61% 3.97% 268.18% 19.98%
Stocks
0.25% -0.98% 24.74% 7.38%
Cash
0.14% -181.13% 95.99% 75.25%
Preferred Stocks
0.00% 0.00% 77.13% 70.55%
Other
0.00% -13.23% 23.06% 54.74%
Convertible Bonds
0.00% 0.00% 10.39% 94.13%

Stock Sector Breakdown

Weighting Return Low Return High DBLTX % Rank
Utilities
0.00% 0.00% 100.00% N/A
Technology
0.00% 0.00% 48.30% N/A
Real Estate
0.00% 0.00% 99.26% N/A
Industrials
0.00% 0.00% 48.31% N/A
Healthcare
0.00% 0.00% 17.70% N/A
Financial Services
0.00% 0.00% 100.00% N/A
Energy
0.00% 0.00% 100.00% N/A
Communication Services
0.00% 0.00% 100.00% N/A
Consumer Defense
0.00% 0.00% 99.67% N/A
Consumer Cyclical
0.00% 0.00% 100.00% N/A
Basic Materials
0.00% 0.00% 100.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High DBLTX % Rank
US
0.25% -0.94% 24.47% 7.05%
Non US
0.00% -0.04% 4.86% 57.18%

Bond Sector Breakdown

Weighting Return Low Return High DBLTX % Rank
Securitized
89.90% 0.00% 98.79% 1.90%
Government
9.87% 0.00% 86.23% 83.83%
Cash & Equivalents
0.14% 0.00% 95.99% 97.47%
Corporate
0.09% 0.00% 100.00% 96.21%
Municipal
0.01% 0.00% 100.00% 72.54%
Derivative
0.00% 0.00% 25.16% 69.65%

Bond Geographic Breakdown

Weighting Return Low Return High DBLTX % Rank
US
97.73% 3.63% 210.09% 11.83%
Non US
1.88% -6.54% 58.09% 89.07%

DBLTX - Expenses

Operational Fees

DBLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.50% 0.01% 2.93% 58.92%
Management Fee 0.40% 0.00% 1.76% 66.27%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

DBLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

DBLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

DBLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 89.00% 2.00% 493.39% 38.75%

DBLTX - Distributions

Dividend Yield Analysis

DBLTX Category Low Category High DBLTX % Rank
Dividend Yield 3.72% 0.00% 42.85% 10.02%

Dividend Distribution Analysis

DBLTX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

DBLTX Category Low Category High DBLTX % Rank
Net Income Ratio 2.75% -1.28% 8.97% 5.62%

Capital Gain Distribution Analysis

DBLTX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

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DBLTX - Fund Manager Analysis

Managers

Jeffrey Gundlach


Start Date

Tenure

Tenure Rank

Apr 06, 2010

12.16

12.2%

Mr. Gundlach is CEO of DoubleLine. In 2011, he appeared on the cover of Barron's as "The New Bond King." In 2013, Institutional Investor named him "Money Manager of the Year." In 2012, 2015 and 2016, he was named one of "The Fifty Most Influential" in Bloomberg Markets. In 2017, he was inducted into the FIASI Fixed Income Hall of Fame. Mr. Gundlach is a summa cum laude graduate of Dartmouth College, with degrees in Mathematics and Philosophy.

Andrew Hsu


Start Date

Tenure

Tenure Rank

Jul 31, 2019

2.84

2.8%

Mr. Hsu is a Global Infrastructure Investments portfolio manager. He has been a member of the investment team at DoubleLine Capital since 2009 focusing on structured products. Prior to joining DoubleLine Capital, he was a member of the investment team at Trust Company of the West for seven years.

Ken Shinoda


Start Date

Tenure

Tenure Rank

Jul 31, 2020

1.83

1.8%

Mr. Shinoda joined DoubleLine in 2009. He is Chairman of the Structured Products Committee and oversees the non-Agency RMBS team specializing in investing in non-Agency MBS, residential whole loans and other mortgage-related opportunities. He is co-Portfolio Manager on the Total Return, Opportunistic Income, Opportunistic MBS and Strategic MBS strategies, and lead Portfolio Manager overseeing the Mortgage Opportunities private funds. Mr. Shinoda is also a permanent member of the Fixed Income Asset Allocation Committee, as well as, participating in the Global Asset Allocation Committee.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.77 1.16