DoubleLine Yield Opportunities Fund - Ordinary Shares
Find Ratings Reports- Last Ratings Update:02/29/2024
- Price as of 02/29/2024 :$15.83
- Net Assets:$723 Million
- NAV:$16.07
- Premium-1.49%
- Peer Rank:32 of 69
- Investment Rating:C
- Performance:C+
- RiskC
We rate DoubleLine Yield Opportunities at C. Positive factors that influence this rating include a greater than above average total return and low price volatility. The fund may be considered for investors seeking a Corporate - High Yield strategy.
Total return ranks above peers over the last three years. The DoubleLine Yield Opportunities has returned an annual rate of 2.80% since inception. More recently, the fund has generated a total return of 2.91% in the last three years, 23.30% in the last year, and 14.74% in the last six months. How does that compare to other equity funds? In the last three years, it has outperformed 50% of them. It has also outpaced 83% of its competitors on a one year basis for the period ending 2/29/2024. On a year to date basis, DLY has returned 8.35%.
Downside risk has been below average. DLY has a draw down risk of -34.40%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 14.7%. This fund has had moderate volatility in its monthly performance over the last 36 months.
High expense ratio hinders performance. On total assets of $723.00 million, DLY maintains a high expense ratio compared to its Corporate - High Yield peers of 3.42% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As DLY is a closed end fund, it has no front end or back end load.
Manager lacks tenure but performance is a net positive. Substandard fund managers tend to be replaced, so a long tenure is usually a good sign that a fund is achieving its objectives. The DoubleLine Yield Opportunities has been managed by Jeffrey E. Gundlach for only 4 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than 79% of other fund managers.