DDLDX: DoubleLine Low Duration Bond Fund

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DDLDX DoubleLine Low Duration Bond Fund


Profile

DDLDX - Profile

Vitals

  • YTD Return -0.6%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $6.74 B
  • Holdings in Top 10 15.3%

52 WEEK LOW AND HIGH

$9.96
$9.32
$10.07

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.39%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 60.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification

  • Primary Caregory Uncategorized
  • Fund Type Open End Mutual Fund
  • Investment Style Short-Term Bond

Distributions

  • YTD Total Return -0.6%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.98%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    DoubleLine Low Duration Bond Fund
  • Fund Family Name
    DoubleLine
  • Inception Date
    Jul 31, 2019
  • Shares Outstanding
    528418
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Luz Padilla

Fund Description

Under normal circumstances, the advisor intends to invest primarily in fixed income and other income-producing instruments rated investment grade and unrated securities considered by the Adviser to be of comparable credit quality. The advisor intends to invest at least 80% of the fund's net assets (plus the amount of borrowings for investment purposes) in bonds. The fund may, however, invest up to 50% of its total assets in fixed income and other income-producing instruments rated below investment grade and those that are unrated but determined by the Adviser to be of comparable credit quality.


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Categories

Fund Company Quick Screens

DDLDX - Fund Company Quick Screens


Performance

DDLDX - Performance

Return Ranking - Trailing

Period DDLDX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.6% -8.8% 5.7% 85.67%
1 Yr N/A -10.2% 5.1% 16.78%
3 Yr N/A* -3.9% 2.3% 7.02%
5 Yr N/A* -19.8% 2.1% 6.36%
10 Yr N/A* -10.3% 4.0% N/A

* Annualized

Return Ranking - Calendar

Period DDLDX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -6.6% 5.0% N/A
2018 N/A -4.8% 1.0% N/A
2017 N/A -1.4% 2.8% N/A
2016 N/A -65.8% 7.1% N/A
2015 N/A -6.9% 3.0% N/A

Total Return Ranking - Trailing

Period DDLDX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.6% -8.8% 5.7% 85.67%
1 Yr N/A -10.2% 5.1% 13.64%
3 Yr N/A* -3.8% 3.0% 6.61%
5 Yr N/A* -18.5% 3.5% 8.64%
10 Yr N/A* -8.6% 4.0% N/A

* Annualized

Total Return Ranking - Calendar

Period DDLDX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -6.6% 5.0% N/A
2018 N/A -4.1% 6.5% N/A
2017 N/A -1.4% 5.9% N/A
2016 N/A -65.2% 10.7% N/A
2015 N/A -5.3% 3.5% N/A

NAV & Total Return History


Holdings

DDLDX - Holdings

Concentration Analysis

DDLDX Category Low Category High DDLDX % Rank
Net Assets 6.74 B 272 K 65.6 B 25.16%
Number of Holdings 764 3 2634 29.38%
Net Assets in Top 10 1.05 B -3.38 M 7.39 B 31.88%
Weighting of Top 10 15.31% 3.3% 100.0% 75.78%

Top 10 Holdings

  1. Morgan Stanley Instl Lqudty Govt Instl 2.20%
  2. First American Government Obligs U 2.20%
  3. JPMorgan US Government MMkt IM 2.20%
  4. United States Treasury Notes 2.25% 1.92%
  5. United States Treasury Notes 1.5% 1.92%
  6. United States Treasury Notes 2.63% 1.53%
  7. United States Treasury Notes 0.13% 1.08%
  8. United States Treasury Notes 1.38% 0.77%
  9. Federal Home Loan Mortgage Corporation 2% 0.76%
  10. DoubleLine Low Dur Emerg Mkts Fxd Inc I 0.72%

Asset Allocation

Weighting Return Low Return High DDLDX % Rank
Bonds
91.21% 22.39% 122.47% 63.44%
Cash
7.91% -33.34% 77.61% 28.44%
Convertible Bonds
0.87% 0.00% 24.99% 62.50%
Stocks
0.00% 0.00% 7.37% 46.88%
Preferred Stocks
0.00% 0.00% 51.70% 51.25%
Other
0.00% -1.74% 20.06% 47.50%

Bond Sector Breakdown

Weighting Return Low Return High DDLDX % Rank
Securitized
62.60% 0.00% 90.81% 4.38%
Corporate
19.05% 1.55% 98.91% 67.81%
Government
10.36% 0.00% 72.12% 67.50%
Cash & Equivalents
7.99% 0.12% 77.61% 39.69%
Derivative
0.00% 0.00% 27.93% 56.88%
Municipal
0.00% 0.00% 15.94% 77.50%

Bond Geographic Breakdown

Weighting Return Low Return High DDLDX % Rank
US
64.35% 0.00% 98.17% 90.31%
Non US
26.86% 0.00% 73.47% 5.63%

Expenses

DDLDX - Expenses

Operational Fees

DDLDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.39% 0.01% 23.90% 85.63%
Management Fee 0.35% 0.00% 1.19% 51.86%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.41% N/A

Sales Fees

DDLDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

DDLDX 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.

DDLDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 60.00% 0.00% 496.37% 49.37%

Distributions

DDLDX - Distributions

Dividend Yield Analysis

DDLDX Category Low Category High DDLDX % Rank
Dividend Yield 0.00% 0.00% 3.04% 44.41%

Dividend Distribution Analysis

DDLDX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

DDLDX Category Low Category High DDLDX % Rank
Net Income Ratio 2.98% -2.82% 4.42% 15.94%

Capital Gain Distribution Analysis

DDLDX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

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Fund Manager Analysis

DDLDX - Fund Manager Analysis

Managers

Luz Padilla


Start Date

Tenure

Tenure Rank

Sep 30, 2011

8.93

8.9%

Ms. Padilla joined DoubleLine in 2009 as the Director of the Emerging Markets Group and is the lead Portfolio Manager. Prior to DoubleLine, she was a Managing Director at TCW. She began working at TCW in 1994, where she had served in a number of roles of increasing responsibility with the group, including Credit Analyst, Director of Research, Co-Portfolio Manager since December 2001, and lead Portfolio Manager since October 2006. She was involved in all aspects of building and managing TCW's Emerging Markets Fixed Income business including credit, securitization, trading and marketing. Ms. Padilla attended University of California at Berkeley as a fellow of the Robert A. Toigo Foundation and graduated with an MBA in 1994. Ms. Padilla received her BA in Economics in 1989 from Stanford University in Palo Alto, California.

Robert Cohen


Start Date

Tenure

Tenure Rank

Sep 08, 2016

3.98

4.0%

Mr. Cohen joined DoubleLine’s Global Developed Credit Group in 2012. He is the Director of the group and also a permanent member of the Fixed Income Asset Allocation committee. Prior to DoubleLine, he was a Senior Credit Analyst at West Gate Horizons Advisors (and its predecessor ING Capital Advisors) where he worked as an analyst covering bank loans and high yield bonds since 2001. Prior to joining ING, Mr. Cohen was an Assistant Vice President in the Asset Management Group of Union Bank. At Union Bank, Mr. Cohen managed a diversified portfolio of leveraged loans as well as a portfolio of CDO securities. Prior to Union Bank, he was an Associate Director of Corporate and Investment Banking at the Bank of Montreal in their Natural Resources Group. He holds a BA in Economics from the University of Arizona and an MBA from the University of Southern California. He is a CFA charterholder.

Jeffrey Sherman


Start Date

Tenure

Tenure Rank

Jul 31, 2019

1.09

1.1%

As DoubleLine’s Deputy Chief Investment Officer, Jeffrey Sherman oversees and administers DoubleLine’s Investment Management sub-committee coordinating and implementing policies and processes across the investment teams. He also serves as lead portfolio manager for multi-sector and derivative-based strategies. He is a member of DoubleLine’s Executive Management and Fixed Income Asset Allocation Committees. Prior to joining DoubleLine in 2009, he was a Senior Vice President at TCW where he worked as a portfolio manager and quantitative analyst focused on fixed income and real-asset portfolios.

Jeffrey Gundlach


Start Date

Tenure

Tenure Rank

Jul 31, 2019

1.09

1.1%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 27.02 5.59 0.67