DoubleLine Income Solutions Fund of Beneficial Interests
Find Ratings Reports- Last Ratings Update:02/29/2024
- Price as of 02/29/2024 :$12.63
- Net Assets:$1,189.6 Million
- NAV:$12.52
- Premium0.88%
- Peer Rank:49 of 69
- Investment Rating:C-
- Performance:C
- RiskC
We rate DoubleLine Income Solutions at C-. Positive factors that influence this rating include a low price volatility. The fund may be considered for investors seeking a Corporate - High Yield strategy.
Total return ranks below peers over the last three years. The DoubleLine Income Solutions has returned an annual rate of 3.84% since inception. More recently, the fund has generated a total return of 2.42% in the last five years, 0.67% in the last three years, and 19.99% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 31% of them. It has also outpaced 39% of its competitors on a three year basis and 78% of them over the last year for the period ending 2/29/2024. On a year to date basis, DSL has returned 6.51%.
Downside risk has been above average. DSL has a draw down risk of -40.98%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 18.5%. This fund has experienced a high level of volatility in its monthly performance over the last 36 months.
High expense ratio hinders performance. On total assets of $1.19 billion, DSL maintains a high expense ratio compared to its Corporate - High Yield peers of 3.24% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As DSL is a closed end fund, it has no front end or back end load.
Manager tenure and performance record are net positives. 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 Income Solutions has been managed by Jeffrey E. Gundlach for the last 11 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than 62% of other fund managers.