# DoubleLine

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## Sitemaps

- [XML Sitemap](https://doubleline.com/sitemap.xml): Contains all public & indexable URLs for this website.

## Pages

- [Homepage](https://doubleline.com/): doubleline.com
- [DoubleLine Webcast Schedule & Replays](https://doubleline.com/doubleline-webcasts/): Introducing DoubleLine’s two new webcast series featuring CEO Jeffrey Gundlach and Deputy CIO Jeffery Sherman sharing their thoughts on the economy, markets and where they see opportunities. DoubleLine CEO Jeffrey Gundlach hosts live, unfiltered webcasts on his investment ideas and insights into unfolding market risks and opportunities. Parental warning: Some recommendations might not make the replay,
- [Retirement Solutions at DoubleLine](https://doubleline.com/retirement/): Explore DoubleLine’s retirement income solutions for plan committees and advisers, plus fiduciary resources and The Glide Path podcast with Stephen Dopp.
- [Confirm Your Attendance for the DoubleLine 2026 Roundup](https://doubleline.com/confirm-your-attendance-dl-2026-roundup/)
- [Confirm Your Attendance for the DoubleLine Just Markets Webcast](https://doubleline.com/confirm-your-attendance-for-the-doubleline-2027-just-markets-webcast/)
- [Contact Us](https://doubleline.com/contact-us/)
- [Fund Documents](https://doubleline.com/fund-documents/): Exchange-Traded Funds Mutual Funds Closed-End Funds
- [Distribution](https://doubleline.com/distribution/)
- [DoubleLine News Releases](https://doubleline.com/about-us/doubleline-news-releases/)
- [Awards & Accolades Disclosure](https://doubleline.com/award-disclosure/): DoubleLine has provided compensation to one or more award publications to permit DoubleLine to publish certain award results as well as the name and logo of the award publications and, in some cases, related to the award publication, to announce the award results (e.g., in an industry advertisement). Although any such compensation was provided after
- [About DoubleLine](https://doubleline.com/about-us/): DoubleLine is an independent, employee-owned money management firm committed to helping you achieve your investment goals. We offer an array of investment strategies and vehicles backed up by a consistent and tested portfolio management team. Led by CEO-CIO Jeffrey Gundlach, DoubleLine was founded in 2009 when Mr. Gundlach came to believe his goal of asset management excellence was not shared by owners of the firm that his team had built to prominence over the preceding 24 years.
- [Fixed Income Asset Allocation](https://doubleline.com/fiaa/): DoubleLine's Fixed Income Asset Allocation (FIAA) process blends active management of asset class exposure with bottom-up security selection. Top-Down Sector Allocation FIAA decisions are made by committee, led by Jeffrey Gundlach during the monthly meetings of DoubleLine’s FIAA Committee which includes senior portfolio managers from each asset class. DoubleLine raises or lowers asset weightings based
- [Confirm Your Attendance](https://doubleline.com/rsvp-9-17-26-dl-event-in-nyc/): We appreciate your interest in DoubleLine's NY Event. We are currently at capacity for this event and have closed the RSVP page. Thank you for your continued support of DoubleLine!
- [International](https://doubleline.com/international/): Video Content Articles Contact Us UCITS International Asset Management With offices in Dubai and Tokyo, DoubleLine’s global footprint continues to expand, offering world-class thought leadership across the globe. We provide an array of investment strategies and vehicles backed by a consistent and tested portfolio management team to help our clients meet their investment goals while
- [Portfolio Management](https://doubleline.com/portfolio-management/)
- [Leadership](https://doubleline.com/leadership/)
- [Fund Performance](https://doubleline.com/fund-performance/)
- [Financial Terms](https://doubleline.com/glossary/): Glossary Adjustable-Rate Mortgage (ARM) – Type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan. With an adjustable-rate mortgage, the initial interest rate is fixed for a period of time. After this initial period, the interest rate resets periodically, at yearly or even monthly intervals.
- [Learn More About DoubleLine ETFs](https://doubleline.com/find-out-more-contact-us/): Click here to contact us directly
- [Closed-End Funds Webcast](https://doubleline.com/closed-end-funds-webcast-june-wlr/): Tuesday, June 23, 2026 1:15 PM PT Please provide your email address below to receive notifications for your webcast slides and/or replay content requests. For any other information or questions, please email fundinfo@doubleline.com Deputy Chief Investment Officer, Jeffrey Sherman, updates investors on the DoubleLine Income Solutions, Opportunistic Credit and Yield Opportunities Closed-End Funds.
- [Sherman Says Webcast - July](https://doubleline.com/sherman-says-webcast-2026-07-14-wlr/): Tuesday, July 14, 2026 1:15 PM PDT Deputy CIO Jeffrey Sherman delivers sharp macroeconomic insights and market outlooks to help navigate client portfolios and unlock potential growth. Please provide your email address below to receive notifications for your webcast slides and/or replay content requests. For any other information or questions, please email info@doubleline.com
- [Responsible Investment at DoubleLine](https://doubleline.com/responsible-investment-at-doubleline/): Our Approach Responsible Investment ("RI") is an approach that involves the consideration of ESG factors, alongside traditional financial factors, when making investment decisions. DoubleLine believes that integrating ESG into our investment process allows us to gain a more holistic view of the relevant investment risks, better understand the potential drivers of performance, and seek better
- [Insurance Solutions at DoubleLine](https://doubleline.com/insurance-solutions-at-doubleline/): Insurance Asset Management DoubleLine’s focus on securitized fixed income and risk management positions it well to manage money for insurers. The firm offers an array of fixed income strategies including dedicated ABS, private ABF, CLOs, infrastructure debt, commercial and residential loans, multi-sector fixed income and EM. We understand that the needs of each insurer can
- [Privacy Notice](https://doubleline.com/privacy-policy/): At DoubleLine, we care about your privacy, value the trust you place in us when you share your personal information and recognize the obligation to keep this information secure. This notice provides information about how DoubleLine (“we,” “our,” and “us”) collects, uses, discloses, and protects your personal information, and how you might choose to limit
- [Corporate Documents and Forms](https://doubleline.com/corporate-documents-and-forms/): DoubleLine Capital DoubleLine Capital Form ADV - Part 1 (3-31-2026) DoubleLine Capital Form ADV Part 2A (3-31-2026) DoubleLine Capital Form ADV-Part 3 CRS_(3-31-2026) DoubleLine Alternatives DoubleLine Alternatives Form ADV Part 1A (3-31-2026) DoubleLine Alternatives – Form ADV Part 2A (3-31-2026) DoubleLine Alternatives LP Form CRS (3-31-2026) DoubleLine Exchange-Traded Funds Adviser DoubleLine ETF Adviser Form ADV
- [California Privacy Notice for Website Visitors, Media Subscribers and Business Representatives](https://doubleline.com/ca-privacy-notice-for-website-media-business-representatives/): Updated March 31, 2026 The purpose of this Privacy Notice (“Notice”) is to inform (1) visitors of the DoubleLine (the “Company,” “our,” “we,” or “us”) website and our media subscribers, and (2) representatives of companies that we conduct business with, of the categories of personal information we collect and the purposes for which we use
- [Index Definitions](https://doubleline.com/index-definitions/): ADP National Employment Report (NER) – An independent estimate of private-sector employment and pay, the monthly ADP NER, published by the ADP Research Institute with the Stanford Digital Economy Lab, presents independent measures of the U.S. labor market based on ADP payroll data covering more than hundreds of thousands of business establishments with more than
- [Sherman Says Webcast - April](https://doubleline.com/sherman-says-webcast-2026-04-21-wlr/): Wednesday, April 22, 2026 1:15 PM PDT Deputy CIO Jeffrey Sherman delivers sharp macroeconomic insights and market outlooks to help navigate client portfolios and unlock potential growth. Please provide your email address below to receive notifications for your webcast slides and/or replay content requests. For any other information or questions, please email info@doubleline.com
- [Sherman Says Webcast - October](https://doubleline.com/sherman-says-webcast-2026-10-20-wlr/): Tuesday, October 20, 2026 1:15 PM PDT Deputy CIO Jeffrey Sherman delivers sharp macroeconomic insights and market outlooks to help navigate client portfolios and unlock potential growth. Please provide your email address below to receive notifications for your webcast slides and/or replay content requests. For any other information or questions, please email info@doubleline.com
- [Gundlach Unlocked Webcast - December](https://doubleline.com/gundlach-unlocked-webcast-2026-12-08-wlr/): Tuesday, December 8, at 1:15 PM PDT DoubleLine CEO Jeffrey Gundlach hosts live, unfiltered webcasts on his investment ideas and insights into unfolding market risks and opportunities. Please enter your email address to request the slide presentation and/or receive a notification if a replay becomes available. Due to compliance requirements and restrictions, a replay cannot
- [Gundlach Unlocked Webcast - September](https://doubleline.com/gundlach-unlocked-webcast-2026-09-08-wlr/): Tuesday, September 8, at 1:15 PM PDT DoubleLine CEO Jeffrey Gundlach hosts live, unfiltered webcasts on his investment ideas and insights into unfolding market risks and opportunities. Please enter your email address to request the slide presentation and/or receive a notification if a replay becomes available. Due to compliance requirements and restrictions, a replay cannot
- [Gundlach Unlocked Webcast - June](https://doubleline.com/gundlach-unlocked-webcast-2026-06-09-wlr/): Tuesday, June 9, at 1:15 PM PDT DoubleLine CEO Jeffrey Gundlach hosts live, unfiltered webcasts on his investment ideas and insights into unfolding market risks and opportunities. Please enter your email address to request the slide presentation and/or receive a notification if a replay becomes available. Due to compliance requirements and restrictions, a replay cannot
- [Gundlach Unlocked Webcast - March](https://doubleline.com/gundlach-unlocked-webcast-2026-03-10-wlr/): Tuesday, March 10, at 1:15 PM PDT DoubleLine CEO Jeffrey Gundlach hosts live, unfiltered webcasts on his investment ideas and insights into unfolding market risks and opportunities. Please enter your email address to request the slide presentation and/or receive a notification if a replay becomes available. Due to compliance requirements and restrictions, a replay cannot
- [Just Markets - 2026](https://doubleline.com/just-markets-2026-wlr/): CEO-CIO Jeffrey Gundlach discusses the economy, the markets, and his outlook for what he believes may be the best investment strategies and sector allocations for 2025.
- [Multi-Sector Income ETF (DMX) Webcast](https://doubleline.com/webcast-dmx-etf-wlr/): Tuesday, November 18, 2025 1:15 PM PDT Please provide your email address below to receive notifications for your webcast slides and/or replay content requests. For any other information or questions, please email fundinfo@doubleline.com Featuring Ken Shinoda, CFA, and Robert Cohen, CFA. Portfolio Managers of the Multi-Sector Income ETF (DMX).
- [Diversified Fixed Income Webcast](https://doubleline.com/diversified-fixed-income-webcast-wlr/): Tuesday, October 7, 2025 11:15 AM PT Please provide your email address below to receive notifications for your webcast slides and/or replay content requests. For any other information or questions, please email fundinfo@doubleline.com Deputy CIO Jeffrey Sherman discuss the economy and markets and how DoubleLine's multi-sector bond funds can be an important part of an investor's
- [Total Return Webcast - Survivor](https://doubleline.com/total-return-webcast-survivor-09-09-25-wlr/): Tuesday, September 9, 2025 1:15 PM PDT Please provide your email address below to receive notifications for your webcast slides and/or replay content requests. For any other information or questions, please email fundinfo@doubleline.com CEO-CIO Jeffrey Gundlach and Ken Shinoda, CFA, Portfolio Managers of the Total Return Bond Fund discuss the economy, the markets, and their outlook for
- [Social Media Terms, Conditions and Fund Disclosure](https://doubleline.com/social-media-terms-conditions-and-fund-disclosure/): Terms and Conditions Investing involves risk. Principal loss is possible. A Fund's or ETF’s investment objectives, risks, charges and expenses must be considered carefully before investing. A Fund’s or ETF’s statutory and summary prospectus contain this and other important information about the investment company, and may be obtained by calling (877) 354-6311 / (877) DLINE11
- [DoubleLine Mutual Fund Performance](https://doubleline.com/mutual-fund-performance/): DoubleLine Mutual Funds Performance Summary Core Fixed Income Fund The Adviser has contractually agreed to waive fees incurred from investments made in other DoubleLine Funds through August 1, 2025. Net expense ratios are applicable to investors. Emerging Markets Fixed Income Fund Emerging Markets Local Currency Income Fund The Adviser has contractually agreed to waive fees
- [Equity Alternatives Webcast](https://doubleline.com/equity-alternatives-webcast-wlr/): Tuesday, May 13, 2025 1:15 PM PDT Please provide your email address below to receive notifications for your webcast slides and/or replay content requests. For any other information or questions, please email fundinfo@doubleline.com DoubleLine Portfolio Manager Jeffrey Mayberry will discuss diversifying stock exposures away from market-cap-weighted strategies via the DoubleLine Shiller Enhanced CAPE® mutual fund (DSEEX/DSENX),
- [RSVP to attend the DoubleLine & J.P. Morgan Event in New York City](https://doubleline.com/jpm-nyc-event-5-6-25-rsvp/): Registration is closed. If you would like to register, please email Melissa Ngo: Melissa.Ngo@doubleline.com.
- [Learn More About DABS](https://doubleline.com/learn-more-about-dabs/): Learn More About the DoubleLine Asset-Backed Security Exchange-Traded Fund
- [Total Return Webcast](https://doubleline.com/total-return-webcast-wlr/): Tuesday, March 11, 2024 1:15 PM PDT Please provide your email address below to receive notifications for your webcast slides and/or replay content requests. For any other information or questions, please email fundinfo@doubleline.com CEO-CIO Jeffrey Gundlach and Ken Shinoda, CFA, Portfolio Managers of the Total Return Bond Fund discuss the economy, the markets, and their outlook for
- [Opportunities in Mortgages: Residential and Commercial ETF Webcast](https://doubleline.com/opportunities-in-real-estate-etf-webcast-wlr/): DoubleLine Portfolio Managers Ken Shinoda and Morris Chen will discuss the current market conditions and DoubleLine's Mortgage ETF and Commercial Real Estate ETF.
- [Just Markets - 2025](https://doubleline.com/just-markets-2025-wlr/): CEO-CIO Jeffrey Gundlach discusses the economy, the markets, and his outlook for what he believes may be the best investment strategies and sector allocations for 2025.
- [DoubleLine Exchange-Traded Funds](https://doubleline.com/doubleline-exchange-traded-funds/)
- [DCMT](https://doubleline.com/dcmt/): Redirect page
- [CAPE](https://doubleline.com/cape/): Redirect page
- [DFVE](https://doubleline.com/dfve/): Redirect page
- [DBND](https://doubleline.com/dbnd/): Redirect page
- [DMBS](https://doubleline.com/dmbs/): Redirect Page
- [DCRE](https://doubleline.com/dcre/)
- [Website Accessibility Statement](https://doubleline.com/website-accessibility-statement/): Updated January 1, 2024 Summary DoubleLine is committed to ensuring accessibility for all people, including all persons with disabilities. This commitment extends to this website. We are committed to developing this website in a manner that conforms with generally recognized and accepted standards for website accessibility (the “Standards”), which are currently the World
- [Shiller CAPE® U.S. Equities ETF Unsubscribe](https://doubleline.com/shiller-cape-etf-unsub-page/)
- [Copy Of Retirement Solutions at DoubleLine](https://doubleline.com/copy-of-retirement-solutions-at-doubleline/): All retirement investment roads lead to retirement income. Not all of them lead to retirement income security, and sometimes we need to turn the corner to make progress. This is where DoubleLine can help. We are committed to the development of fiduciary and investor best practices for retirement income and asset allocation.
- [DoubleLine Closed-End Fund Performance](https://doubleline.com/closed-end-fund-performance/): DoubleLine Closed-End Fund Performance Summary (downloadable PDF) View All Closed-End Funds
- [Structured Products](https://doubleline.com/structured-products/): DoubleLine believes structured products often deliver a yield advantage with lower effective duration than other fixed income assets and exhibit a lower correlation to the S&P 500 relative to corporate credit alternatives. Structured products often deliver a yield advantage with lower effective duration than other fixed income assets. Ken Shinoda, Chairman of DoubleLine Structured Products Committee DoubleLine's
- [Global Asset Allocation](https://doubleline.com/global-asset-allocation/): Asset allocation decisions are made by Jeffrey Gundlach during the monthly meetings of DoubleLine’s Global Asset Allocation Committee. The committee is chaired by Mr. Gundlach. DoubleLine adjusts asset weightings based on sector fundamentals and relative valuation. Actively managed sector betas include the Agency Mortgage-Backed, Non-Agency Mortgage-Backed, Asset- Backed, Commercial Mortgage-Backed, US Government, Global Developed Credit,
- [Why Commodities?](https://doubleline.com/alternatives/)
- [Terms of Use](https://doubleline.com/terms-of-use/): DoubleLine, LP (the “Company”) welcomes you to the products, services, tools, and information on its website (the “Site”). The Company operates the Site, either alone or in conjunction with its affiliates, agents and partners. Before using the Site, please read these Terms and Conditions of Use (the “Terms and Conditions”) carefully. Any use of the
- [PE Characteristics](https://doubleline.com/pe-characteristics/): This page is private, only visible by website admins and editors
- [The DoubleLine Shiller CAPE Process](https://doubleline.com/cape-process/): DoubleLine's distinct approach to U.S. large cap equity investing. The Shiller Enhanced CAPE® strategy offers exposure to the “cheapest sectors” of the large cap equity markets using an “Index Overlay” technique while the remaining assets are invested in a fixed income portfolio. Both segments of the portfolio offer a value play in their respective markets. The
- [PE 10k Charts](https://doubleline.com/pe-10k-charts/)
- [Sample Page](https://doubleline.com/sample-page/): This is an example page. It's different from a blog post because it will stay in one place and will show up in your site navigation (in most themes). Most people start with an About page that introduces them to potential site visitors. It might say something like this: Hi there! I'm a bike messenger
- [DoubleLine Mutual Funds Frequently Asked Questions](https://doubleline.com/doubleline-mutual-funds-frequently-asked-questions/)
- [subscribe](https://doubleline.com/subscribe/)

## Funds

- [Commodity Strategy ETF](https://doubleline.com/funds/commodity-strategy-etf/): DCMT provides long-only exposure to a diversified basket of commodities across the five major sectors of the commodity market: energy, industrial metals, precious metals, agriculture and livestock. The investment universe comprises all 24 commodities in the Bloomberg Commodity Index. The fund overweights the 10 commodities with the highest roll yield and underweights the 14 commodities with the lowest roll yield. Within each commodity, DCMT actively selects futures contracts along the curve to enhance return via known factors such as carry, seasonality and momentum.
- [Shiller CAPE® U.S. Equities ETF](https://doubleline.com/funds/shiller-cape-etf/): CAPE seeks to invest in the securities that correspond to the four “cheapest” sectors of the U.S. large-cap equity market. The Fund is rebalanced on a monthly basis to create an investment return that approximates that of the CAPE® Index. The Fund aims to incorporate the principles of long-term investing distilled by Professor Robert Shiller through his work on the CAPE® Ratio, via the CAPE® Index. The Index aims to identify undervalued sectors based on a modified CAPE® Ratio, and then uses a momentum factor to seek to mitigate the effects of potential value traps.
- [Securitized Credit ETF](https://doubleline.com/funds/securitized-credit-etf/): The Fund listed on 2/2/2026. The number of days the Fund's shares traded at a premium or discount for the calendar year will be displayed in the table above following the completion of the current calendar year.Premium/Discount - A premium or discount to the net asset value (NAV) occurs when the market price of an ETF
- [Opportunistic Core Bond ETF](https://doubleline.com/funds/opportunistic-core-bond-etf/): DBND invests in a universe of fixed income instruments, including U.S. government securities, Agency mortgage-backed securities (MBS), non-Agency MBS, commercial MBS, global developed credit, international fixed income instruments, and emerging markets fixed income instruments.
- [Multi-Sector Income ETF](https://doubleline.com/funds/multi-sector-income-etf/): DMX seeks to achieve its investment objectives by active asset allocation among various sectors within the fixed income markets and security selection within the selected sectors. These sectors may include, for example, investment grade corporate debt securities, high yield corporate debt securities, bank loans, residential mortgage-backed securities (including agency and privately issued residential mortgage-related securities), commercial mortgage-backed securities (including agency and privately issued commercial mortgage-related securities), asset-backed securities and CLOs.
- [Mortgage ETF](https://doubleline.com/funds/mortgage-etf/): DMBS invests primarily in high quality residential mortgage-backed securities (RMBS), actively allocating between government-backed Agency MBS and non-Agency MBS. Interest rate, credit and prepayment risks are actively managed with the goal of providing enhanced risk-adjusted returns through various interest-rate and economic environments.
- [Fortune 500 Equal Weight ETF](https://doubleline.com/funds/fortune-500-equal-weight-etf/): DFVE seeks to invest equally across public companies in the annual Fortune 500® list. The ETF is reconstituted on an annual basis and is rebalanced on a quarterly basis to create an investment return that approximates that of the Underlying Index.
- [Commercial Real Estate Debt ETF](https://doubleline.com/funds/commercial-real-estate-debt-etf/): DCRE seeks to invest in investment grade commercial mortgage-backed securities (CMBS), employing active management across sector and security-level commercial real estate (CRE) exposures, while maintaining a low level of interest rate risk. The fund’s high-quality CRE investment universe includes Agency and non-Agency CMBS and commercial real estate collateralized loan obligations (CRE CLOs). DoubleLine's experienced, long-tenured CRE specialists are responsible for security selection within their sector based on in-depth, fundamental research and property level analysis.
- [Asset-Backed Securities ETF](https://doubleline.com/funds/asset-backed-securities-etf/): The Fund listed on 3/4/2025. The number of days the Fund's shares traded at a premium or discount for the calendar year will be displayed in the table above following the completion of the current calendar year.Premium/Discount - A premium or discount to the net asset value (NAV) occurs when the market price of an ETF
- [Ultrashort Income ETF](https://doubleline.com/funds/ultrashort-income-etf/): The Fund listed on 4/1/2026. The number of days the Fund's shares traded at a premium or discount for the calendar year will be displayed in the table above following the completion of the current calendar year.Premium/Discount - A premium or discount to the net asset value (NAV) occurs when the market price of an ETF
- [Low Duration Bond Fund](https://doubleline.com/funds/low-duration-bond-fund/): The Fund seeks current income by investing principally in debt securities of any kind. The Fund may invest without limit in mortgage-backed securities of any maturity or type. It may also invest in corporate debt obligations, asset-backed securities, foreign securities, emerging market securities, inflation-indexed bonds, bank loans and assignments, income-producing securitized products, including collateralized loan obligations: preferred securities, and other instruments bearing fixed or variable interest rates of any maturity.
- [Long Duration Total Return Bond Fund](https://doubleline.com/funds/long-duration-total-return-bond-fund/): The Fund seeks long-term total return for investors that are looking to add duration to their portfolio. Investors looking to add duration have historically concentrated on the Corporate and Government sectors of the fixed income market. DoubleLine believes instead that by investing in segments of the mortgage-backed securities market (MBS) that we can potentially diversify risk and enhance returns.
- [Emerging Markets Local Currency Bond Fund](https://doubleline.com/funds/emerging-markets-local-currency-bond-fund/): Portfolio Characteristics Credit Quality Breakdown (%) Duration Breakdown (%) Country Breakdown (%) Region Breakdown (%) Industry Breakdown (%)
- [Flexible Income Fund](https://doubleline.com/funds/flexible-income-fund/): The Fund seeks current income and capital appreciation by actively allocating across fixed income sectors using duration management based on the manager’s view of, among other factors, future interest rates and market conditions. The manager retains broad discretion to modify the Fund’s duration within a wide range, including construction of a portfolio of investments with a negative duration.
- [Core Fixed Income Fund](https://doubleline.com/funds/core-fixed-income-fund/): The DoubleLine Fixed Income Asset Allocation Committee, led by Jeffrey Gundlach, determines whether to over-or-underweight a sector based on economic outlook, sector fundamentals and relative value. Sector specialists incorporate their knowledge, experience and research to create fundamental and relative value. The Fund's investable universe includes government, Agency MBS, non-Agency MBS, commercial MBS, global developed credit, international fixed income and emerging markets fixed income.
- [Low Duration Emerging Markets Fixed Income Fund](https://doubleline.com/funds/low-duration-emerging-markets-fixed-income-fund/): Portfolio Characteristics Currency Exposure (%) Duration Breakdown (%) Credit Quality Breakdown (%) Country Breakdown (%) Industry Breakdown (%) Sector Breakdown (%) Top 10 Holdings (%)
- [Global Bond Fund](https://doubleline.com/funds/global-bond-fund/): Portfolio Characteristics Duration Breakdown Credit Quality Breakdown (%) Country Breakdown (%) Currency Exposure (%) Region Breakdown (%) Top 10 Holdings (%) Sector Breakdown (%)
- [Emerging Markets Fixed Income Fund](https://doubleline.com/funds/emerging-markets-fixed-income-fund/): Portfolio Characteristics Current Currency Exposure (%) Duration Breakdown (%) Credit Quality Breakdown (%) Country Breakdown (%) Industry Breakdown (%) Top 10 Holdings (%) Sector Breakdown (%)
- [Shiller Enhanced International CAPE®](https://doubleline.com/funds/shiller-enhanced-international-cape/): Portfolio Characteristics Duration Breakdown (%) Credit Quality Breakdown (%) Weighted Average Life Breakdown (%) Fixed Income Sector Breakdown (%) CAPE Sector Allocation (%)
- [Shiller Enhanced CAPE®](https://doubleline.com/funds/shiller-enhanced-cape/): \r\n\r\n\r\n jQuery(window).on(\"load\", function() {\r\n let data = [];\r\n let tmp = wpDataCharts[37].render_data.rows;\r\n tmp.map((item, i) => {\r\n data.push(new Date(new Date(item[0]).getFullYear(), 1, 1));\r\n });\r\n data = [...new Set(data)];\r\n let ticksData = data\r\n .map(function(date) {\r\n return date.getTime();\r\n })\r\n .filter(function(date, i, array) {\r\n return array.indexOf(date) === i;\r\n })\r\n .map(function(time) {\r\n return new Date(time);\r\n });\r\n if (typeof wpDataChartsCallbacks == \"undefined\")
- [Total Return Bond Fund](https://doubleline.com/funds/total-return-bond-fund/): The investment seeks to maximize total return. The fund invests at least 80% of net assets in debt securities. It intends to invest more than 50% of net assets in mortgage-backed securities of any maturity or type guaranteed by, or secured by collateral that is guaranteed by, the United States government, its agencies, instrumentalities or sponsored corporations, or in privately issued mortgage-backed securities rated at time of investment Aa3 or higher by Moody’s or AA- or higher by S&P or the equivalent by any other nationally recognized statistical rating organization.
- [Strategic Commodity Fund](https://doubleline.com/funds/strategic-commodity-fund/): Portfolio Characteristics (Market Value) Portfolio Sector Allocation (%) Sector Allocation (%) Tactical Commodity Exposure (%) Morgan Stanley BFMCI (%)
- [Yield Opportunities Fund](https://doubleline.com/funds/yield-opportunities-fund/): The Fund will seek to achieve its investment objective by investing in a portfolio of investments selected for its potential to provide a high level of total return, with an emphasis on current income. The Fund may invest in debt securities and other income-producing investments of issuers anywhere in the world, including in emerging markets, and may invest in investments of any credit quality.
- [Commercial Real Estate ETF](https://doubleline.com/funds/commercial-real-estate-etf/): DCRE seeks to invest in investment grade commercial mortgage-backed securities (CMBS), employing active management across sector and security-level commercial real estate (CRE) exposures, while maintaining a low level of interest rate risk. The fund’s high-quality CRE investment universe includes Agency and non-Agency CMBS and commercial real estate collateralized loan obligations (CRE CLOs). DoubleLine's experienced, long-tenured CRE specialists are responsible for security selection within their sector based on in-depth, fundamental research and property level analysis.
- [Opportunistic Credit Fund](https://doubleline.com/funds/opportunistic-credit-fund/): The Fund will seek to achieve its investment objective by selecting investments for their potential to provide high current income, growth of capital, or both. The Fund may invest in debt securities and income-producing investments of any kind, including mortgage-backed securities (residential and commercial), asset-backed securities, U.S. Government securities, corporate debt, international sovereign debt, and short-term investments.
- [Income Solutions Fund](https://doubleline.com/funds/income-solutions-fund/): The Fund will seek to achieve its investment objectives by investing in a portfolio of investments selected for their potential to provide high current income, growth of capital, or both. The Fund may invest in debt securities and other income-producing investments anywhere in the world, including emerging markets.
- [Securitized Credit Fund](https://doubleline.com/funds/securitized-credit-fund/): The Fund invests mainly in structured product securities, including mortgage-backed securities, asset-backed securities and collateralized loan obligations (CLOs) which deliver a high level of current income, capital appreciation or both, while providing diversification from corporate credit and diversifying levels of risk within the portfolio.
- [Infrastructure Income Fund](https://doubleline.com/funds/infrastructure-income-fund/): Infrastructure debt finances projects, assets or companies that provide essential services in strategic sectors of the economy. Investments can include debt that finances airports, toll roads and renewable energy as well as debt secured by infrastructure-related assets such as aircraft, rolling stock (vehicles that operate on tracks, including powered and unpowered vehicles) and telecom towers.

## Strategies

- [Shiller Enhanced CAPE®](https://doubleline.com/strategies/shiller-enhanced-cape/)
- [Emerging Markets Fixed Income](https://doubleline.com/strategies/emerging-markets-fixed-income/)
- [Low Duration Emerging Markets Fixed Income](https://doubleline.com/strategies/emerging-markets-low-duration/)
- [Core Plus Fixed Income](https://doubleline.com/strategies/core-plus-fixed-income/)
- [Flexible Income](https://doubleline.com/strategies/flexible-income/)
- [Securitized Credit](https://doubleline.com/strategies/securitized-credit/)
- [Total Return Bond](https://doubleline.com/strategies/total-return-bond/)
- [Securitized Income](https://doubleline.com/strategies/securitized-income/)
- [Low Duration Bond](https://doubleline.com/strategies/low-duration-bond/)
- [Total Return Tactical](https://doubleline.com/strategies/total-return-tactical/)
- [Opportunistic Income](https://doubleline.com/strategies/opportunistic-income/)
- [Shiller Enhanced International CAPE®](https://doubleline.com/strategies/shiller-enhanced-international-cape-strategy/)
- [Infrastructure Income](https://doubleline.com/strategies/infrastructure-income/)
- [Select Income](https://doubleline.com/strategies/select-income/)
- [Income](https://doubleline.com/strategies/income/)
- [Asset-Backed Securities](https://doubleline.com/strategies/asset-backed-securities/)
- [Floating Rate](https://doubleline.com/strategies/floating-rate/)
- [Long Duration Total Return](https://doubleline.com/strategies/long-duration-total-return/)
- [Strategic Commodity](https://doubleline.com/strategies/strategic-commodity/)

## Market Insights

- [DoubleLine Named Top Fixed Income Investment Firm 2026 by Financial Services Review](https://doubleline.com/markets-insights/doubleline-named-top-fixed-income-investment-firm-2026-by-financial-services-review/): Financial Services Review profiles DoubleLine as a 2026 Top Asset Management Fixed Income Investment Firm. In the cover story, President Ron Redell and Deputy CIO Jeffrey Sherman discuss how the firm is steering portfolios through a secular shift toward higher interest rates. They also cover DoubleLine’s investment-led culture, its focus on risk management, the benefits
- [Distribution Is Still King | Joe Smolen](https://doubleline.com/markets-insights/distribution-is-still-king-joe-smolen/): Stephen Dopp welcomes Joe Smolen, President of Workplace Solutions at Empower, to The Glide Path. Mr. Smolen has spent 27 years at the same company, starting as a sales rep driving across Iowa when Great-West Financial was the 38th largest of more than 500 recordkeepers. (Great-West rebranded its retirement division as Empower after corporate consolidation
- [Weekly Market Update: October 2026 - Week 3](https://doubleline.com/markets-insights/weekly-market-update-october-2026-week-3/): Every Friday, DoubleLine publishes a concise snapshot of the week in markets all in one place. Track equity indices, bond ETFs, the U.S. Treasury yield curve, economic indicators, currencies and commodities. Straight numbers without the noise.
- [Equity Broadening, Bull-Flattening and a One-Trick Pony (E281)](https://doubleline.com/markets-insights/dline-minutes-e281/): Portfolio Manager Eric Dhall and Allocation Strategist Ryan Kimmel survey improved stock breadth even as tech led the S&P 500 lower (1:06) the week ended Oct. 16. Bonds (5:11) enjoyed bull-flattening as short squeezes took hold despite hotter-than-expected inflation. While Bloomberg Commodities Index gained, Eric calls the move a “one-trick pony” in the form of
- [Shiller Enhanced CAPE® Strategy - Frequently Asked Questions (FAQ)](https://doubleline.com/markets-insights/shiller-enhanced-cape-strategy-faq/): Get answers to the 10 most frequently asked questions about the DoubleLine Shiller Enhanced CAPE® Strategy, which pairs a value-oriented approach to large-cap U.S. equity sectors with an actively managed fixed income collateral portfolio. This FAQ addresses how the "double value" structure and CAPE® methodology work, why the strategy has recently lagged the S&P 500
- [Bill Campbell: Emerging Markets Held in Remarkably Well | Bloomberg](https://doubleline.com/markets-insights/bill-campbell-emerging-markets-held-in-remarkably-well-bloomberg/): DoubleLine’s Bill Campbell, head of the global sovereign and emerging markets team, joins Bloomberg’s The Close to discuss questions about the AI buildout and its impact on the credit market. Mr. Campbell notes the problem is the underwriting assumptions baked into projected earnings, and he points out the factors creating a circular logic that could
- [The French Inversion](https://doubleline.com/markets-insights/the-french-inversion/): How can you govern a country that has two hundred and forty-six varieties of cheese? - Charles de Gaulle Governments have traditionally borrowed at lower yields than domestic corporations, particularly banks. In France, that relationship has reversed. The yield on French 10-year government bonds has climbed to 4.83%, exceeding the 4.63% yield on comparable-maturity investment
- [Stress at the Bottom](https://doubleline.com/markets-insights/stress-at-the-bottom/): There is a crack, a crack in everything, That’s how the light gets in. – Leonard Cohen, “Anthem” Though U.S. high yield (HY) bonds offered a yield of just over 8% as of Oct. 6, 2026, much of that reflected elevated U.S. Treasury rates rather than unusually generous credit premiums. The broad HY option-adjusted spread
- [Jeffrey Sherman: The Bond Market is in Charge | CNBC](https://doubleline.com/markets-insights/jeffrey-sherman-the-bond-market-is-in-charge-cnbc/): DoubleLine Deputy CIO Jeffrey Sherman joins CNBC’s Closing Bell Overtime after a hotter than expected CPI report sent the bond market on a rough ride. Fed governors had spent the run-up arguing a hike wasn’t needed, and the data blew that up. Sherman says the Fed still needs to hike and reverse last year’s risk
- [Monthly Market Commentary](https://doubleline.com/markets-insights/monthly-market-commentary/): Stay ahead of shifting global markets with DoubleLine’s Market Commentary, a comprehensive yet accessible monthly review for investors, advisers and institutions seeking informed perspective. Each edition distills the latest movements across fixed income, equities, credit and commodities while also tracking global macroeconomic trends, helping readers understand what changed and why it matters for portfolios and
- [A Fête Sans Tech (E280)](https://doubleline.com/markets-insights/dline-minutes-e280/): Even without tech to liven up the party, stocks staged a broad rally on the S&P 500 (0:42) for the week ended Oct. 9, DoubleLine Portfolio Manager Eric Dhall and Analyst Mark Kimbrough observe. After four weeks of rising yields, bonds (3:01) at last caught a bid. Commodities ended higher (4:55), led by energy on
- [Rates, Energy Tax Stocks, Bonds (E279)](https://doubleline.com/markets-insights/dline-minutes-e279/): DoubleLine Portfolio Manager Jeff Mayberry and Asset Allocation Strategist Ryan Kimmel review the month of September in markets and the week’s macro news. The S&P 500 (1:01) gave ground in September across all sectors except for gains in tech and a flat communications services sector. Fixed income (4:57) fell to rising rates across the curve
- [Strong Growth, Inflation = Fed on Hook for Hikes (E278)](https://doubleline.com/markets-insights/dline-minutes-e278/): Hot purchasing manager reports raising growth and inflation expectations the week ended Sept. 25 explain, per DoubleLine’s Eric Dhall and Mark Kimbrough, a narrow tech-driven gain in the S&P 500 (1:04) and higher yields along the U.S. Treasury curve (4:27). Commodities (9:33) eased, led by lower energy prices on Midde East conflict hopes. The week’s
- [Securitized Products Briefing](https://doubleline.com/markets-insights/securitized-products-briefing/): The sharp rise in interest rates during the third quarter of 2026 pressured longer-duration fixed income but also created more attractive entry points across select securitized markets. Higher yields, resilient credit fundamentals and increasing dispersion across Agency MBS, non-Agency RMBS, CMBS, ABS and CLOs reinforce the importance of active security selection in capturing attractive risk-adjusted
- [Diversifying U.S. Equity Exposure in a Concentrated Market   ](https://doubleline.com/markets-insights/diversifying-u-s-equity-exposure-in-a-concentrated-market/): DoubleLine Portfolio Manager Eric Dhall and Asset Allocation Strategist Ryan Kimmel propose valuation and equal-weight strategies offered by DoubleLine for investment in U.S. equities and to complement investors’ exposure to the S&P 500, the latter feature explored in light of the nearly 40% weighting of the widely followed benchmark’s market cap to the information technology
- [Bondmageddon: Don’t Fight the Curve](https://doubleline.com/markets-insights/bondmageddon-dont-fight-the-curve/): DoubleLine Portfolio Manager Ken Shinoda returns with his latest Channel 11 update at a time when the bond market is taking a beating. “It’s been somewhat of a bloodbath, especially in longer-duration bonds,” Mr. Shinoda says, with the five-year U.S. Treasury yield back at 5% from under 3.75% in April and the 30-year Treasury near
- [Another October Peak for Treasury Yields?](https://doubleline.com/markets-insights/another-october-peak-for-treasury-yields/): It’s deja vu all over again. – Yogi Berra The path of the 10-year U.S. Treasury yield in 2026 is starting to look remarkably similar to its path in 2023. Through Sept. 30, the yield was up 112 basis points (bps), almost exactly matching the 110-bp increase through the Oct. 19, 2023, peak. September also
- [Gundlach: Rates, Risk and the Road Ahead](https://doubleline.com/markets-insights/gundlach-rates-risk-and-the-road-ahead/): In this highlight video from DoubleLine’s September client event at the Plaza Hotel in New York, CEO-CIO Jeffrey Gundlach joins Deputy CIO Jeffrey Sherman for a wide-ranging look at bonds, credit and markets. Mr. Gundlach argues that many of the relationships that investors relied on for decades have stopped working, a new world he calls
- [An Uncomfortable Pair of Sevens](https://doubleline.com/markets-insights/an-uncomfortable-pair-of-sevens/): Everything is connected to everything else. – Barry Commoner, “The Closing Circle” A gallon of diesel and a 30-year mortgage normally have little in common. Diesel prices are shaped by global crude and refined-product markets; mortgage rates reflect U.S. Treasury yields, monetary policy and conditions in the mortgage market. Over long periods, there is little
- [Jeffrey Sherman: Bessent Testing the Plumbing | Bloomberg TV](https://doubleline.com/markets-insights/jeffrey-sherman-bessent-testing-the-plumbing-bloomberg-tv/): DoubleLine Deputy CIO Jeffrey Sherman joins Bloomberg’s The Close to discuss why the firm’s not backing away from the front end of the U.S. Treasury yield curve despite a rough year for bonds. With the curve remaining stubbornly flat, Mr. Sherman says a spread of 25 basis points to 30 basis points just isn’t enough
- [Why CITs Are Winning in Retirement | Val Ferrara](https://doubleline.com/markets-insights/why-cits-are-winning-in-retirement-val-ferrara/): DoubleLine Relationship Manager Stephen Dopp welcomes Val Ferrara, known industrywide as the Queen of CITs, to the latest episode of The Glide Path to discuss her nearly two-decade career in the collective investment trust (CIT) industry. Ms. Ferrara details her journey from the iShares team implementing ETFs in 401(k) plans and growing Wilmington Trust’s CIT
- [From RV Salesman to Fintech CEO | Todd Kading](https://doubleline.com/markets-insights/from-rv-salesman-to-fintech-ceo-todd-kading/): DoubleLine Relationship Manager Stephen Dopp welcomes his longtime friend Todd Kading, CEO of LeafHouse, to the latest episode of The Glide Path. Mr. Kading shares his path from selling RVs to pay for college to building a massive third-party fiduciary business. He candidly discusses why he left individual financial planning, how managing client behavior took
- [Flattish Markets and Highly Hawkish Hike (E277)](https://doubleline.com/markets-insights/dline-minutes-e277/): DoubleLine Analyst Mark Kimbrough and Asset Allocation Strategist Ryan Kimmel recap the market week ended Sept. 18, including the modest extension of a downturn in stocks. Fixed income was basically flat on the week, according to the Agg, and rates experienced a bear flattener (3:11). Commodities were also flattish but still way up year-to-date (6:26).
- [DoubleLine's Cohen Looks for Value in Big Tech After AI Selloff](https://doubleline.com/markets-insights/doublelines-cohen-looks-for-value-in-big-tech-after-ai-selloff/): DoubleLine’s director of corporate credit, Robert Cohen, seeks spread-widening junctures in hyperscalers with better-than-IG index fundamentals.
- [Ken Shinoda: Are You Long Tech Twice? | Bloomberg TV](https://doubleline.com/markets-insights/ken-shinoda-are-you-long-tech-twice-bloomberg-tv/): DoubleLine Portfolio Manager Ken Shinoda joins Bloomberg’s The Close to break down the Federal Reserve’s unanimous decision to hike. Mr. Shinoda notes markets had already priced in a hike with better than 90% confidence, so the real story is how quickly the bond market gave back its initial rally. He points out that a good
- [Jeffrey Gundlach: Fed Needed ‘Stun and Done’ Hike of 50 bps](https://doubleline.com/markets-insights/jeffrey-gundlach-fed-needed-stun-and-done-hike-of-50-bps/): DoubleLine CEO-CIO Jeffrey Gundlach joins CNBC following Federal Reserve Chairman Kevin Warsh’s Federal Open Market Committee (FOMC) press conference, calling the FOMC’s hike of 25 basis points (bps) a case of too little, too late. Mr. Gundlach says he would have dissented in favor of 50 bps, what he dubs “stun and done,” pointing to
- [Mixed Markets, Fed Feels Hike Heat (E276)](https://doubleline.com/markets-insights/dline-minutes-e276/): DoubleLine Portfolio Manager Jeff Mayberry and Analyst Mark Kimbrough review a holiday-shortened week (Sept. 8-11) that delivered a mixed bag for markets: S&P 500 stocks were mostly down but not by much (00:53); bonds had an interesting week as the U.S. Treasury Department’s buyback exceeded its initially discussed goal of $4 billion (3:05); and commodities
- [When Washington and AI Compete for Capital](https://doubleline.com/markets-insights/when-washington-and-ai-compete-for-capital/): When capital is scarce, the short loans of it ought to be dear; and when capital is plentiful, the short loans of it ought to be cheap. - Walter Bagehot The United States has financed enormous deficits before. In 2020, long-term U.S. Treasury issuance surged as the federal deficit reached $3.1 trillion, yet the 10-year
- [Oil Isn’t the Problem, the Deficit Is | Tim Paulson](https://doubleline.com/markets-insights/oil-isnt-the-problem-the-deficit-is-tim-paulson/): Stephen Dopp welcomes back recurring guest Tim Paulson for another wide-ranging conversation, this time tying together the fallout from the Jackson Hole symposium and Mr. Paulson’s latest essay, “The Wrong End of the Pool.” Mr. Paulson frames Federal Reserve Chairman Kevin Warsh as trying to revive a pre-Global Financial Crisis ethos at the Fed of
- [The Fed’s Broken Knob | Tim Paulson](https://doubleline.com/markets-insights/the-feds-broken-knob-tim-paulson/): DoubleLine Relationship Manager Stephen Dopp welcomes Tim Paulson, author of The Paulson Perspective and a 25-year Wall Street veteran, for the inaugural episode of The Glide Path. The conversation centers on Mr. Paulson’s recent essay arguing that the Federal Reserve’s obsession with the overnight rate is outdated. His core point is that the economy has
- [Gundlach Unlocked: The Fed’s Next Move](https://doubleline.com/markets-insights/gundlach-unlocked-the-feds-next-move/): DoubleLine CEO-CIO Jeffrey Gundlach’s latest Gundlach Unlocked webcast reviews the macroeconomic landscape heading into next week’s Federal Open Market Committee meeting. Mr. Gundlach remains skeptical that the Federal Reserve will hike rates despite the market pricing a real probability of one, and he warns that a hold could push long-term rates meaningfully higher given persistent
- [Oil Is Surging, but the Canadian Dollar Is Not](https://doubleline.com/markets-insights/oil-is-surging-but-the-canadian-dollar-is-not/): We have recognized from the beginning that America has changed, and that we will not return to our old relationship. – Canadian Prime Minister Mark Carney Prime Minister Mark Carney’s observation that Canada will not return to its “old relationship” with the United States is increasingly evident in financial markets. Brent crude, the global benchmark
- [Pending Prices, Markets Pay Payrolls a Pittance (E275)](https://doubleline.com/markets-insights/dline-minutes-e275/): Portfolio Manager Jeff Mayberry and Asset Allocation Strategist Ryan Kimmel on Sept. 4 survey a week ended with a flat S&P 500 (0.42) and, despite a slight rise in yields, a flat return on the Bloomberg Aggregate (3:02). Energy prices rose (6:10) on persistent hostilities in the Middle East. Their macro wrap-up (7:51) includes Friday’s
- [Almost All Federal Revenue Is Already Spoken For](https://doubleline.com/markets-insights/almost-all-federal-revenue-is-already-spoken-for/): And the promise being made, must be kept. — Abraham Lincoln Net interest, Social Security, Medicare, health spending and veterans’ benefits now absorb 98.4% of total federal receipts on a trailing 12-month basis. Spending on these obligations now nearly matches every dollar the federal government collects, before accounting for defense, transportation, education, income security and
- [Jeffrey Sherman: The Market Needs to See Fed Action | CNBC](https://doubleline.com/markets-insights/jeffrey-sherman-the-market-needs-to-see-fed-action-cnbc/): DoubleLine Deputy CIO Jeffrey Sherman joins CNBC's Squawk on the Street to unpack Fed Governor Waller's comments and what they mean for the bond market. Sherman sees Waller as effectively the tie-breaking vote on the committee, and his unexpectedly dovish tone drove today's front-end rally, though Sherman remains more focused on the ISM services prices
- [Mixed Stocks, Flatter Curve, Rehabbed Warsh (E274)](https://doubleline.com/markets-insights/dline-minutes-e274/): Fed Chairman Kevin Warsh burnished his tainted inflation-fighting reputation at Jackson Hole, Friday, ending an Aug. 24-28 week, note DoubleLine’s Jeff Mayberry and Mark Kimbrough, characterized by a positive S&P 500 (0:59) but with most sectors in the red. On the back of Warsh’s Jackson Hole speech, they note the yield curve flattened (3:29) and
- [Channel 11: Judgement Day](https://doubleline.com/markets-insights/channel-11-judgment-day/): DoubleLine Portfolio Manager Ken Shinoda returns with his latest Channel 11 update, Judgement Day, in a nod to the AI dominance of markets this year. On the surface, the S&P 500 Index looks like it has gone sideways, but underneath there has been real rotation. The Mag 7 are roughly flat since last October, while
- [AI is Dividing the Software Market](https://doubleline.com/markets-insights/ai-is-dividing-the-software-market/): This is actually an incredible time to be a software company. – Nvidia CEO Jensen Huang, 2026 For much of 2026, software companies have been in the crosshairs of investors due to concerns that AI agents could allow businesses to build more of their own software and disrupt existing business models. Those concerns have led
- [The Parallel Rise in Real and Nominal Yields](https://doubleline.com/markets-insights/the-parallel-rise-in-real-and-nominal-yields-2/): The first is a very notable change since our last meeting 42 days ago: Nominal and real yields are materially higher across the Treasury curve. – Federal Reserve Chaiman Kevin Warsh, July 29, 2026 The 30-year Treasury Inflation-Protected Security (TIPS) yield has returned to nearly 3%, its highest level since the Global Financial Crisis. Recent
- [Federal Interest Burden Exceeds 1991 High With 30-Year Yields at Only 5%](https://doubleline.com/markets-insights/federal-interest-burden-exceeds-1991-high-with-30-year-yields-at-only-5/): The long-term Treasury yield is the most important price in the world. – Stanley Druckenmiller Federal net interest expense reached 18.5% of revenue in 2025, surpassing the previous record of 18.4% set in 1991. However, the circumstances around that burden look very different from those in 1991. The U.S. 30-year Treasury yield was around 8%
- [S3 E2: Breaking Down Bank Loans](https://doubleline.com/markets-insights/ch-11-news-s3-e2-bank-loans/): Channel 11 News host and DoubleLine Portfolio Manager Ken Shinoda welcomes Robert Cohen, the firm’s director of Corporate Credit, to talk about bank loans amid a period of macro volatility including high inflation. Messrs. Shinoda and Cohen discuss the macro environment, including GDP growth, inflation and the impact of looming interest rate hikes (1:22), before
- [Entering Trump 2.0, Robert Cohen Sees Stretched Equities, Competitive Credit](https://doubleline.com/markets-insights/entering-trump-2-0-robert-cohen-equities-credit/): Robert Cohen, head of DoubleLine’s Corporate Credit team, Nov. 12, 2024, surveys relative values and expected returns for stocks and corporate bonds in an appearance with CNBC’s Kelly Evans. Mr. Cohen notes the contrast between those asset classes at the outset of Trump 1.0 vs. today, heading into Trump 2.0. In 2017, equities were competitively
- [Perspectives: Robert Cohen on Public vs. Private Credit: Proceed With Caution](https://doubleline.com/markets-insights/perspectives-robert-cohen-on-public-vs-private-credit-proceed-with-caution/): Robert Cohen, Head of DoubleLine’s Corporate Credit team, returns to “Perspectives” with Client Portfolio Manager Chris Stegemann to assess today’s credit landscape and outlook through 2026. Mr. Cohen explains why he sees recent defaults as isolated events rather than systemic, why fears of a “credit bubble” are misplaced, and how tightening spreads and shifting lending
- [Robert Cohen: Bank Loans Reveal What Private Credit Won’t | Bloomberg TV](https://doubleline.com/markets-insights/robert-cohen-bank-loans-reveal-what-private-credit-wont-bloomberg-tv/): DoubleLine’s Robert Cohen, Director of Corporate Credit, joins Bloomberg’s The Close live from DoubleLine’s L.A. offices to discuss AI financing, credit markets and the growing cracks in private credit. On AI, Mr. Cohen notes that demand for debt issuance remains insatiable as corporate credit supply has actually shrunk since the pandemic, but he warns that
- [Cohen: The Credit Party Is Just Getting Started | Bloomberg TV](https://doubleline.com/markets-insights/cohen-the-credit-party-is-just-getting-started-bloomberg-tv/): DoubleLine’s Robert Cohen, Director of Corporate Credit, joins Bloomberg’s The Close with Romaine Bostick and Katie Greifeld to break down an evolving landscape of corporate credit amid an AI investment boom, shifting M&A trends, and changing dynamics between public and private credit. Mr. Cohen discusses why borrower quality matters more than ever, how markets are
- [Robert Cohen: Wall Street Running Up the AI Tab | Bloomberg TV](https://doubleline.com/markets-insights/robert-cohen-wall-street-running-up-the-ai-tab-bloomberg-tv/): Robert Cohen, Director of Corporate Credit at DoubleLine, visits Bloomberg TV’s “The Close,” where he evaluates AI-driven debt and equity markets, explaining why investment grade credit still looks healthy while below-investment-grade issuance carries rising risk. Mr. Cohen draws a direct parallel to the late-1990s dot-com cycle, addresses where prospects stand for a Federal Reserve rate
- [U.S. Foreign-Born Labor Supply Is Shrinking](https://doubleline.com/markets-insights/u-s-foreign-born-labor-supply-is-shrinking/): “The formulation of a problem is often more essential than its solution.” – Albert Einstein and Leopold Infeld, “The Evolution of Physics” Over the last several years, the U.S. foreign-born labor force shifted from rapid expansion to outright contraction. From 2022 through 2024, it grew by roughly 1 million to 2 million workers a year.
- [Mister Treasury Meets Mister Market (E273)](https://doubleline.com/markets-insights/mister-treasury-meets-mister-market-e273/): After surveying a softening S&P 500 on weaker tech (0:26) for the week ended Aug. 21, DoubleLine Portfolio Manager Eric Dhall and Analyst Mark Kimbrough scrutinize bond pricing (1:53) that appeared less than impressed with Treasury Secretary Scott Besssent’s interventionism. Treasury’s limited buying at the long end, Eric Dhall remarks, stirred up volatility at that
- [Perspectives: Bill Campbell - Reading the Fed Without a Script](https://doubleline.com/markets-insights/perspectives-bill-campbell-reading-the-fed-without-a-script/): DoubleLine's Bill Campbell, head of the firm's global sovereign and emerging markets team, joins Client Portfolio Manager Jeff Probst on the latest episode of Perspectives to unpack why markets read Fed Chair Warsh's second meeting so differently than his first. Bill traces the shift back to Warsh's move away from forward guidance. In June, his
- [Jeffrey Sherman: The Debt-Fueled Boom Is Breaking the Bond Market | Bloomberg TV](https://doubleline.com/markets-insights/jeffrey-sherman-the-debt-fueled-boom-is-breaking-the-bond-market-bloomberg-tv/): DoubleLine Deputy CIO Jeffrey Sherman joins Bloomberg’s The Close to unpack the latest leg of the bond sell-off, which he attributes to a confluence of anxieties, from AI-driven hyperscaler capital expenditure (capex) to years of unresolved fiscal excess across the developed world. With the U.S. deficit potentially approaching $40 trillion by Labor Day and few
- [UK’s Object Lessons for the G-7](https://doubleline.com/markets-insights/uks-object-lessons-for-the-g-7/): G-7 members share the dilemma of high inflation and slowing growth. This stagflation comes as parts of the European Union and United Kingdom face trade deficits (worsened by dependence on energy imports from Russia), debt burdens approaching 100% of GDP and expanding budget deficits. In such a predicament, a sovereign state faces a choice.
- [Perspectives: Bill Campbell on Japan’s Yen Crisis and Echoes of Liz Truss](https://doubleline.com/markets-insights/perspectives-bill-campbell-on-japans-yen-crisis-and-echoes-of-liz-truss/): DoubleLine’s Bill Campbell, head of the global sovereign and emerging markets team, joins Client Portfolio Manager Jeff Probst on the latest episode of Perspectives to discuss Japan’s recent currency intervention and what it reveals about the deeper fiscal and monetary tensions building across developed markets. Mr. Campbell breaks down the coordinated U.S.-Japan intervention that pulled
- [Jeffrey Sherman on Labor at the Crossroads: What It Means for Fixed Income](https://doubleline.com/markets-insights/jeffrey-sherman-on-labor-at-the-crossroads-what-it-means-for-fixed-income/): DoubleLine Deputy CIO Jeffrey Sherman presents a macroeconomic analysis of the U.S. labor market’s current inflection point and its implications for fixed income strategy. Mr. Sherman reviews gross domestic product growth, consumer spending resilience and the structural impact of government fiscal policy, focusing on elevated deficits, debt servicing costs and an evolving balance between labor
- [Jeffrey Sherman on Fed Uncertainty, Tariff Shocks & Credit Risk | Bloomberg Real Yield](https://doubleline.com/markets-insights/jeffrey-sherman-on-fed-uncertainty-tariff-shocks-credit-risk-bloomberg-real-yield/): DoubleLine Deputy CIO Jeffrey Sherman, joins Bloomberg’s “Real Yield” on Oct. 10 to discuss the macroeconomic crossroads facing markets. Mr. Sherman emphasizes that both inflation and labor data have left the Federal Reserve in a challenging position – caught between moderating inflation pressures and signs of weakening labor demand. He notes that the Fed’s recent
- [Jeffrey Sherman: The Game Is Bonds. How DoubleLine Plays It | Barron's Live](https://doubleline.com/markets-insights/jeffrey-sherman-the-game-is-bonds-how-doubleline-plays-it-barrons-live/): *This post contains a link to an external podcast. DoubleLine is not affiliated with Barron’s, and any opinions expressed are those of the speakers.* DoubleLine Deputy CIO Jeffrey Sherman joins Barron’s Senior Managing Editors Lauren Rublin and Ben Levisohn to discuss navigating markets “in the fog” amid limited economic data and persistent inflation. Sherman shares
- [Jeffrey Sherman on Rates, Inflation and Fixed Income Strategy | CNBC](https://doubleline.com/markets-insights/jeffrey-sherman-on-rates-inflation-and-fixed-income-strategy-cnbc/): DoubleLine Deputy Chief Investment Officer Jeffrey Sherman joins CNBC’s Money Movers to talk fixed income markets, U.S. Treasury yields, inflation dynamics and portfolio positioning amid elevated geopolitical risk. Mr. Sherman also discusses the markets’ resilience, how real yields and duration impact DoubleLine’s strategy and what could trigger a breakout in interest rates as investors assess
- [Jeffrey Sherman: Oil Price Causing Its Own Rate Hike | CNBC](https://doubleline.com/markets-insights/jeffrey-sherman-oil-price-causing-its-own-rate-hike-cnbc/): DoubleLine Deputy CIO Jeffrey Sherman joins CNBC to break down the bond market’s latest moves, noting why the Federal Reserve should look past oil-driven inflation and stay focused on labor market conditions. Mr. Sherman pushes back on calls for aggressive federal funds rate cuts and addresses growing concerns around foreign ownership of U.S. Treasuries hitting
- [Jeffrey Sherman on Oil, Deficits and the Private Credit Liquidity Trap | Bloomberg](https://doubleline.com/markets-insights/jeffrey-sherman-on-oil-deficits-and-the-private-credit-liquidity-trap-bloomberg/): DoubleLine Deputy CIO Jeffrey Sherman joins Bloomberg Markets: The Close to unpack the market impact of rising oil prices, geopolitical disruptions and shifting rate expectations. Mr. Sherman highlights how supply constraints and infrastructure damage in energy markets could prolong inflationary pressures and weigh on global growth, noting that markets could be underestimating the duration and
- [Sherman Says: The Dirty Secret in the Bond Market](https://doubleline.com/markets-insights/sherman-says-the-dirty-secret-in-the-bond-market/): In the inaugural episode of DoubleLine’s Sherman Says, Deputy CIO Jeffrey Sherman and Strategist Ryan Kimmel are led by Relationship Manager Nick Dalgety through a discussion of the current macro and market landscape. The focus is on persistent inflation pressures driven by energy price volatility, tariffs and elevated services inflation, which continue to challenge the
- [Jeffrey Sherman on Borrowed Prosperity and the Case for EM Local Currency | Bloomberg TV](https://doubleline.com/markets-insights/jeffrey-sherman-on-borrowed-prosperity-and-the-case-for-em-local-currency-bloomberg-tv/): DoubleLine Deputy CIO Jeffrey Sherman joins Bloomberg’s The Close live from DoubleLine’s L.A. offices, urging investors to tune out the headline ping-pong and focus on underlying fundamentals. While the earnings backdrop remains solid, Mr. Sherman notes that at roughly 25x forward earnings, equities are stretched, and with the two-year U.S. Treasury yielding 4%, the risk-reward
- [Jeffrey Sherman: The Bond Market Woke Up to Warsh | Bloomberg TV](https://doubleline.com/markets-insights/jeffrey-sherman-the-bond-market-woke-up-to-warsh-bloomberg-tv/): DoubleLine Deputy CIO Jeffrey Sherman joins Bloomberg’s The Close with Katie Greifeld and Romaine Bostick to discuss the recent U.S. Treasury rally, attributing the front-end move primarily to relief in crude oil prices but cautioning that core inflation still has a problem. The bond market’s sharp reaction to Federal Reserve Chairman Kevin Warsh’s debut press
- [Jeffrey Sherman on Inflation, AI Financing, and Warsh’s Fed Task Force | Bloomberg TV](https://doubleline.com/markets-insights/jeffrey-sherman-on-inflation-ai-financing-and-warshs-fed-task-force-bloomberg-tv/): DoubleLine Deputy CIO Jeffrey Sherman joins Bloomberg’s The Close with Katie Greifeld and Romaine Bostick to discuss inflation, AI-driven debt issuance and the new Federal Reserve task force leadership. Mr. Sherman sees inflation pressures continuing to build on both the manufacturing and services side, with ISM prices paid remaining elevated heading into the next CPI
- [Sherman Says: A Hawk in Hawk's Clothing](https://doubleline.com/markets-insights/sherman-says-a-hawk-in-hawks-clothing/): In the latest episode of DoubleLine’s Sherman Says, Deputy CIO Jeffrey Sherman and Strategist Ryan Kimmel are led by Relationship Manager Nick Dalgety through a wide-ranging conversation on the Federal Reserve, inflation and where they see value in markets today. Mr. Sherman gives new Fed Chairman Kevin Warsh credit so far, noting the market had
- [DoubleLine Fixed Income Briefing](https://doubleline.com/markets-insights/doubleline-fixed-income-briefing/): DoubleLine Fixed Income Briefing
- [Jeffrey Gundlach on Channel 11: So Much Said, So Little Heard](https://doubleline.com/markets-insights/jeffrey-gundlach-on-channel-11-so-much-said-so-little-heard/): DoubleLine Portfolio Manager Ken Shinoda welcomes firm CEO-CIO Jeffrey Gundlach for a special edition of Channel 11, recorded the morning after Federal Reserve Chairman Kevin Warsh’s second FOMC press conference, which Mr. Gundlach does not mince words about. Citing CNBC’s Steve Liesman, he calls it a case of “so much said, so little heard,” pointing
- [Ken Shinoda: The Market Wants Hikes, Not Committees | Bloomberg](https://doubleline.com/markets-insights/ken-shinoda-the-market-wants-hikes-not-committees-bloomberg/): DoubleLine Portfolio Manager Ken Shinoda joins Bloomberg to break down a sharp move in Treasuries following Fed Chair Warsh's press conference, with the 30-year yield hitting its highest level since 2007 and the curve steepening meaningfully. Ken reads it as a dovish surprise, arguing the long bond is punishing the Fed for not taking inflation
- [Jeffrey Gundlach on the Fed: Talk Is Cheap | CNBC](https://doubleline.com/markets-insights/jeffrey-gundlach-on-the-fed-talk-is-cheap-cnbc/): DoubleLine CEO-CIO Jeffrey Gundlach joins CNBC’s Scott Wapner following Federal Reserve Chairman Kevin Warsh’s second FOMC press conference. Mr. Gundlach’s read is that the market didn’t buy what Chairman Warsh was selling. While the Fed held rates steady, Mr. Gundlach points to the U.S. Treasury yield curve’s sharp steepening during the press conference as the
- [The South Korea Effect in Emerging Markets](https://doubleline.com/markets-insights/the-south-korea-effect-in-emerging-markets/): The greatest value of a picture is when it forces us to notice what we never expected to see. – John Tukey, “Exploratory Data Analysis" The MSCI Emerging Markets (EM) Index returned about 27% over the past year, compared with 18% for the MSCI All Country World Index (ACWI). The gap suggests broad EM outperformance.
- [AI Capex Is Still Booming as Momentum Slows](https://doubleline.com/markets-insights/ai-capex-is-still-booming-as-momentum-slows/): Derivatives are a huge, complex issue. – Judd Gregg, former U.S. senator Judd Gregg was talking about financial derivatives, but accelerations and decelerations in growth rates can also help signal inflection points in markets. The AI boom now has a derivative of its own: the growth rate of capital expenditure (capex) across the hyperscaler group
- [Jeffrey Gundlach: Hope Is a Poor Investment Strategy | Fox Business](https://doubleline.com/markets-insights/jeffrey-gundlach-hope-is-a-poor-investment-strategy-fox-business/): DoubleLine CEO-CIO Jeffrey Gundlach joins Fox Business’ Making Money With Charles Payne to sound the alarm on private credit, drawing a direct parallel to the mortgage market alchemy of the mid-2000s. He points to a prominent fund that marked its loan portfolio down from 100 to 81 overnight as a sign something is off, and
- [Honebuto Shock: Japan Courts a Truss-Like Redux](https://doubleline.com/markets-insights/honebuto-shock-japan-courts-a-truss-like-redux/): Sell-offs in Japanese Government Bonds (JGBs) and the yen have put Japanese Prime Minister Sanae Takaichi on notice, a DoubleLine paper argues, that Japan’s creditors have little tolerance for her government’s unorthodox proposal for a mixture of unfunded fiscal expansion with docile central-banking. Surveying the “Honebuto shock,” so-named after debt-and-yen sell-off following Tokyo’s annual fiscal
- [Chairman Warsh Swiftly Puts His Stamp on the Fed ](https://doubleline.com/markets-insights/chairman-warsh-swiftly-puts-his-stamp-on-the-fed/): Bill Campbell, head of the firm’s Global Sovereign & Emerging Markets (GSEM) team, surveys Federal Reserve Chairman Kevin Warsh’s fast-moving overhaul of the central bank, a reorganization ultimately aimed at “a new policy-setting regime rooted more in a reaction to hard data and market outcomes than in econometric models and dogma.” Looking to the near
- [The World’s Best Market Is a Two-Stock Trade](https://doubleline.com/markets-insights/the-worlds-best-market-is-a-two-stock-trade/): For the DRAM you need in these AI servers, there are three companies that make it. It’s really hard to do. This is as close to magic as science can get. – Gavin Baker, Founder and CIO, Atreides Management South Korea has been the world’s best equity market over the past year, returning 136%. The
- [Channel 11: World Cup Distractions and Mag 7 Disappointments](https://doubleline.com/markets-insights/channel-11-world-cup-distractions-and-mag-7-disappointments/): DoubleLine Portfolio Manager Ken Shinoda returns with his latest Channel 11 update, reviewing a June marked by World Cup distractions, Mag 7 disappointments and a market that quietly broadened out beneath the surface. With the Strait of Hormuz reopening and energy prices pulling back sharply, the inflationary pressure that defined the first half of the
- [DoubleLine Securitized Products Outlook 2026](https://doubleline.com/markets-insights/doubleline-securitized-products-outlook-2026/): DoubleLine's 2026 Securitized Products Outlook assesses a market shaped by easing monetary policy, resilient demand, and improving—but uneven—fundamentals. With potential Fed rate cuts lowering front-end rates, securitized credit enters 2026 supported by strong technicals, disciplined underwriting, and relative value versus corporate credit. While housing activity remains range-bound and consumer credit shows pockets of stress, most
- [Fixed Income Outlook](https://doubleline.com/markets-insights/fixed-income-outlook/): DoubleLine’s Fixed Income Outlook recaps the major market events and trends of a volatile 2025, including sweeping tariffs, geopolitical tensions and the longest federal government shutdown on record, before laying out the factors that could impact market performance in 2026. DoubleLine anticipates 2026 will be characterized by thoughtful positioning, diligent credit work and actively finding
- [Debt Spiral Watch: A Scenario Survey as Washington Drifts Toward a Reckoning](https://doubleline.com/markets-insights/debt-spiral-briefing/): In the first half of 2024, two prominent public financial institutions – the nonpartisan budget analytical center of the U.S. Congress and the world’s largest lender to sovereign governments – publicly aired concerns over the fiscal health of the United States and the sustainability of its sovereign debt. DoubleLine, which tracks the evolution of America’s
- [Trickle-Down AI-conomics](https://doubleline.com/markets-insights/trickle-down-ai-conomics/): Mariya Entina, a Portfolio Manager on DoubleLine’s Corporate Credit team, identifies the surge in AI-infrastructure capex as a two-edged sword that, while visible in certain high-flying stocks, remains an underrated risk among investment grade corporate bond issuers in industries outside the technology sector. “U.S. investment grade (IG) companies in the first quarter of 2026 posted
- [China’s New Auto Export Engine](https://doubleline.com/markets-insights/chinas-new-auto-export-engine/): A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be. – Wayne Gretzky China’s rise in vehicle exports has been meteoric, and a comparison with Japan shows how a once-minor exporter has become a global force in only a few years. China has turned
- [Robert Cohen: Fixed Income the Ballast, Not Another AI Bet | Adjusted for Risk](https://doubleline.com/markets-insights/robert-cohen-fixed-income-the-ballast-not-another-ai-bet-adjusted-for-risk/): DoubleLine Director of Corporate Credit Robert Cohen joins Zephyr’s Adjusted for Risk podcast, hosted by Market Strategist Ryan Nauman, to discuss the current macroeconomic environment, AI’s growing influence on credit markets and the state of corporate credit. Mr. Cohen distills the macro backdrop into two words: “war” and “AI.” The Middle East conflict has driven
- [Jeffrey Gundlach and Felix Zulauf: The Second Inning of a Major Shift](https://doubleline.com/markets-insights/jeffrey-gundlach-and-felix-zulauf-the-second-inning-of-a-major-shift/): DoubleLine CEO-CIO Jeffrey Gundlach joins Felix Zulauf of Zulauf Consulting for a wide-ranging macroeconomic conversation moderated by Grant Williams. Both agree on the big picture: The world is transitioning from a unipolar to multipolar order, and wars and sanctions are structurally inflationary. In addition, markets are in the late stage of a capex and AI-driven
- [Leverage Outruns the Market](https://doubleline.com/markets-insights/leverage-outruns-the-market/): Over investment and over speculation are often important; but they would have far less serious results were they not conducted with borrowed money. – Irving Fisher FINRA margin debt, which measures how much investors borrow against securities in their brokerage accounts, has reached a record $1.42 trillion. The level is noteworthy, but the pace of
- [Ken Shinoda: Higher but Stable Is Good for Credit | Bloomberg TV](https://doubleline.com/markets-insights/ken-shinoda-higher-but-stable-is-good-for-credit-bloomberg-tv/): DoubleLine Portfolio Manager Ken Shinoda joins Bloomberg TV following Federal Reserve Chairman Kevin Warsh’s debut FOMC press conference, calling the performance credible and the message clear: Price stability is the priority. Mr. Shinoda sees the two-year U.S. Treasury’s sharp reaction as an overwind of speculative longs that were positioned for a more dovish Fed chairman,
- [The Hurdle Rate Is Back](https://doubleline.com/markets-insights/the-hurdle-rate-is-back/): Interest rates are to asset prices, sort of like gravity is to the apple. —Warren Buffett The great bond bull market began in the early 1980s as inflation and nominal interest rates retreated from historically high levels. That decline in interest rates ran for decades and ultimately produced one of the post-GFC era’s most unusual
- [Jeffrey Gundlach on Kevin Warsh and a New Era at the Fed | CNBC](https://doubleline.com/markets-insights/jeffrey-gundlach-on-kevin-warsh-and-a-new-era-at-the-fed-cnbc/): DoubleLine CEO and CIO Jeffrey Gundlach joins CNBC's Scott Wapner following Fed Chair Kevin Warsh's debut FOMC press conference, calling it the start of a new era. Gundlach's key takeaway is unmistakable — Warsh repeated "we will deliver price stability" more than anything else, and his decision to buy time through five task forces rather
- [Channel 11: Stocks Soar, Bonds Snore](https://doubleline.com/markets-insights/channel-11-stocks-soar-bonds-snore/): DoubleLine Portfolio Manager Ken Shinoda returns with his Channel 11 update for May, a month where equities pushed to new heights, and the bond market quietly repriced higher. Led by a powerful rebound off April lows in tech and momentum names, the Nikkei, Dow Transports and Russell 2000 indices moved into position among the standout
- [Morris Chen on CRE Dispersion and Data Center Restraint | Bloomberg TV](https://doubleline.com/markets-insights/morris-chen-on-cre-dispersion-and-data-center-restraint-bloomberg-tv/): DoubleLine Portfolio Manager Morris Chen joins Bloomberg’s ETF IQ to discuss his approach to commercial real estate (CRE) credit in a bifurcated market. With the CRE recovery uneven across property types and geographies, Mr. Morris emphasizes that selectivity is everything, with careful bottom-up credit analysis essential to identifying which loans will pay off on time
- [Gundlach Unlocked: Positioning for Higher Rates, Persistent Inflation and Rate Hikes](https://doubleline.com/markets-insights/gundlach-unlocked-positioning-for-higher-rates-persistent-inflation-and-rate-hikes/): In the latest episode of Gundlach Unlocked, DoubleLine CEO Jeffrey Gundlach examines why long-term interest rates could remain elevated despite expectations for monetary easing, why inflation could prove more persistent than many investors anticipate, and why he believes the Federal Reserve is more likely to raise than cut rates in the current environment. He also
- [Strong Jobs, Higher Hike Risk](https://doubleline.com/markets-insights/strong-jobs-higher-hike-risk/): AI will be a significant disinflationary force, increasing productivity and bolstering American competitiveness. —Future Federal Reserve Chair Kevin Warsh in a November 2025 Wall Street Journal op-ed The market’s view of the Federal Reserve’s policy path has shifted dramatically over 2026, from expecting cuts to increasingly pricing the risk of hikes. The Iran war and
- [Commercial Mortgage Loans: Building Around the Insurance Balance Sheet](https://doubleline.com/markets-insights/commercial-mortgage-loans-building-around-the-insurance-balance-sheet/): DoubleLine Portfolio Managers Morris Chen and Robert Stanbrook join host Stewart Foley on the InsuranceAUM podcast to discuss commercial mortgage loans (CMLs) and how they can be structured to fit the unique needs of insurance balance sheets. Mr. Chen, who has been with DoubleLine since its inception in 2009, provides context on firm employees’ decades
- [Record Highs, Record Doubts](https://doubleline.com/markets-insights/record-highs-record-doubts/): There is another world, but it is in this one. — Paul Éluard The U.S. economy looks very different depending on where one stands. While the S&P 500 Index marked record highs in May, the University of Michigan Consumer Sentiment Index fell to 44.8, its all-time low. Equity markets reflect resilient corporate earnings, strong investor
- [Data Centers Overtake Offices](https://doubleline.com/markets-insights/data-centers-overtake-offices/): We shape our buildings and afterwards our buildings shape us. – Winston Churchill U.S. commercial real estate has reached an unusual milestone: The country is now spending more to build data centers than offices. Data center construction has surged to a seasonally adjusted annual rate of $49.5 billion, surpassing office construction at $43.4 billion. Offices
- [Are Oil Tankers Moving Through Hormuz Again?](https://doubleline.com/markets-insights/are-oil-tankers-moving-through-hormuz-again/): As I grow older, I pay less attention to what men say. I just watch what they do. - Andrew Carnegie Headlines can shift by the hour, and markets can swing with them. But when it comes to the inflation and economic outlook, the most important question is simpler: are barrels moving through Hormuz again,
- [The Risk of Replaying Last Year’s Script](https://doubleline.com/markets-insights/the-risk-of-replaying-last-years-script/): It’s like deja vu all over again. – Yogi Berra The market’s path in 2026 bears a striking resemblance to that of 2025. A year apart, markets once again appear to be tracing a familiar arc after another Trump White House-driven shock, one that is unsettling risk assets, reviving inflation concerns and reshaping Federal Reserve
- [The Oil Shock May Not Stop at the Pump](https://doubleline.com/markets-insights/the-oil-shock-may-not-stop-at-the-pump/): Sharply higher prices for food and fertilizers put pressure on households worldwide. - Kristalina Georgieva, IMF, 2022 Markets have already priced the most visible consequences of a disruption in the Strait of Hormuz. Oil prices have surged, gasoline prices are moving higher, and inflation concerns have re-emerged. The initial market reaction has been the most
- [A Crude Reality for Fed Rate Cuts](https://doubleline.com/markets-insights/a-crude-reality-for-fed-rate-cuts/): Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again. — John Maynard Keynes Since U.S. and Israeli military operations in Iran began on Feb. 28, the price of WTI crude oil has gone up
- [Sector Concentration in the S&P 500: Digital versus Physical Sectors](https://doubleline.com/markets-insights/sector-concentration-in-the-sp-500-digital-versus-physical-sectors/): I have a great belief that everything is cyclical in life, particularly in the investment world. — Jean-Marie Eveillard Today, IT represents a 32.3% weight in the S&P 500 Index, placing nearly one-third of the index in a single sector, while materials and energy together account for 5.5%. The spread between those weights is among
- [Is Apple the Canary in the Capex Coal Mine?](https://doubleline.com/markets-insights/is-apple-the-canary-in-the-capex-coal-mine/): We’re perfectly fine with not being first. It’s about being the best. – Tim Cook Since the first quarter of 2020, capital expenditures (capex) among the largest technology companies have moved in sharply different directions. Microsoft’s capex is nearly eight times its 2020 level. Meta and Amazon are spending roughly six times their 2020 levels
- [Labor’s Share Isn’t What It Used to Be](https://doubleline.com/markets-insights/labors-share-isnt-what-it-used-to-be/): Workin’ 9 to 5, what a way to make a livin’. — Dolly Parton Labor’s share of output in the U.S. nonfarm business sector stood at 66.2% in 1960 and remained near 63–64% in 2000. Today it sits at 53.8%, the lowest reading in the series dating back to 1947. The decline spans multiple cycles,
- [A Decade of Tech Dominance Faces the Real Economy](https://doubleline.com/markets-insights/a-decade-of-tech-dominance-faces-the-real-economy/): There is nothing new in Wall Street. … Whatever happens in the stock market today has happened before and will happen again. – Jesse Livermore, “Reminiscences of a Stock Operator” Relative prices reveal market extremes more clearly than absolute prices. One of the most extreme ratios today is that of the S&P 500 Index IT
- [When Japanese Yields and the Yen Stop Moving Together](https://doubleline.com/markets-insights/when-japanese-yields-and-the-yen-stop-moving-together/): Let the future tell the truth, and evaluate each one according to his work and accomplishments. – Nikola Tesla Few relationships in global macroeconomics have been as durable – or as closely watched – as the link between interest rate differentials and currency valuations. The chart above, comparing the U.S.-Japan five-year yield differential with the
- [Latin America and the Earnings Side of the Commodity Cycle](https://doubleline.com/markets-insights/latin-america-and-the-earnings-side-of-the-commodity-cycle/): You can cut all the flowers, but you cannot keep spring from coming.(Podrán cortar todas las flores, pero no podrán detener la primavera.) - Pablo Neruda Last week’s note focuses on commodity prices themselves. The key takeaway is that commodities have been firming even as they remain peripheral to dominant market narratives. That disconnect matters
- [Commodity Prices Split With CPI](https://doubleline.com/markets-insights/commodity-prices-split-with-cpi/): Unless we know how things are counted, we don’t know if it’s wise to count on the numbers. – John Allen Paulos Inflation is increasingly treated as a settled issue. The official inflation reading, the Consumer Price Index (CPI), has slowed meaningfully from its peak in 2022, with year-over-year measures reinforcing the view that price
- [China Trade’s Diverging Paths](https://doubleline.com/markets-insights/china-trades-diverging-paths/): Two roads diverged in a wood, and I – I took the one less traveled by – Robert Frost, “The Road Not Taken” For much of the past decade, China’s exports to the United States and the European Union (EU) moved together. Although China’s export share to the U.S. rose notably above the export share
- [Silver Versus the S&P 500 Index](https://doubleline.com/markets-insights/silver-versus-the-sp-500/): Silver was more volatile than gold because it is a smaller market. – William L. Silber, “The Story of Silver: How the White Metal Shaped America and the Modern World” Silver ended 2025 with a sharp rally, rising from just over $46 an ounce at the end of the third quarter to more than $71
- [Crypto and the Nasdaq Are Out of Sync](https://doubleline.com/markets-insights/crypto-and-the-nasdaq-are-out-of-sync/): He who knows only his own side of the case, knows little of that. – John Stuart Mill For much of the past decade, cryptocurrency markets and the Nasdaq have behaved less like unrelated asset classes and more like different expressions of the same macroeconomic environment. Periods of abundant liquidity and falling real yields have
- [Plunging Inflation Expectations](https://doubleline.com/markets-insights/plunging-inflation-expectations/): Knowledge has to be improved, challenged and increased constantly, or it vanishes. – Peter Drucker The sharp drop since September in U.S. zero-coupon inflation swaps, which reflect market-based expectations for average CPI inflation over a specified horizon, has attracted widespread attention for both its size and speed. At first glance, such a move might suggest
- [What Small-Firm Hiring Is Telling Us Right Now](https://doubleline.com/markets-insights/what-small-firm-hiring-is-telling-us-right-now/): A small leak will sink a great ship. – Benjamin Franklin Small-firm hiring has taken a meaningful turn downward. According to ADP, “small firms,” businesses with one to 50 employees, shed roughly 120,000 jobs in November, the weakest reading since the pandemic. The three-month average has slipped to nearly negative 60,000, indicating that this is
- [The Loan Default Cycle Echoes the GFC](https://doubleline.com/markets-insights/the-loan-default-cycle-echoes-the-gfc/): Maybe history wouldn’t have to repeat itself if we listened once in a while. – Wynne McLaughlin Despite the absence of a recession or systemic crisis, the U.S. leveraged loan market just matched the Global Financial Crisis (GFC) in one dimension: the duration of elevated defaults. The trailing 12-month loan default rate slipped to 3.7%
- [The China-Japan Yield Inversion: A New Anchor for Asia](https://doubleline.com/markets-insights/the-china-japan-yield-inversion-a-new-anchor-for-asia/): The world makes much less sense than you think. – Daniel Kahneman Three months ago in, Japan’s Long Bond Joins the Global Repricing, we wrote that Japan’s long-end breakout marked the moment the last anchor of the zero-yield world gave way. For decades, Japanese government bonds kept global term premiums suppressed. When Japan’s 30-year yield
- [The AI Power Premium](https://doubleline.com/markets-insights/the-ai-power-premium/): We will make electricity so cheap that only the rich will burn candles. – Thomas A. Edison Electricity was once the invisible enabler of digital progress. Now it is becoming a key constraint. This week’s chart compares industrial electricity prices in the five states with the largest concentration of data centers – Virginia, Texas, California,
- [The Treasury’s Short Fuse](https://doubleline.com/markets-insights/the-treasurys-short-fuse/): The chains of habit are too weak to be felt until they are too strong to be broken. – Samuel Johnson Nearly 70% of U.S. fixed-income issuance over the past year has come from one source: Treasury bills. It is a subtle recalibration of the government’s balance sheet – a shift toward shorter-term debt as
- [The Gap That Won’t Close](https://doubleline.com/markets-insights/the-gap-that-wont-close/): Stability is destabilizing. – Hyman P. Minsky, "Can ‘It’ Happen Again?" Inflation has eased to around 3% – well below its 2022 peak but still above the Federal Reserve’s 2% target. The slowdown offers relief, not resolution. As the chart illustrates, prices never returned to their old trajectory. Inflation has cooled, yet it now runs
- [NVIDIA’s Valuation Now Exceeds Japan’s GDP](https://doubleline.com/markets-insights/nvidias-valuation-now-exceeds-japans-gdp/): At the peak of Japan’s 1980s property boom, the land beneath Tokyo’s Imperial Palace was said to be worth more than the entire state of California. The comparison once seemed absurd: several square kilometers of palace gardens priced as high as America’s most populous state. Yet that estimate captured more than arithmetic – it served
- [What Recent Yield Convergence Might Be Telling Us: U.S. and Chinese Long Rates](https://doubleline.com/markets-insights/what-recent-yield-convergence-might-be-telling-us-u-s-and-chinese-long-rates/): It is the story that matters, not just the ending. – Paul Lockhart, “A Mathematician’s Lament” (2009) For nearly two decades, the relationship between U.S. and Chinese long-term yields has traced the story of global growth itself. After the Global Financial Crisis, U.S. Treasury yields spent more than a decade below China’s bond yields as
- [Refinancing Resurgence: Why Lower Mortgage Rates Are Unlocking Relief for Households](https://doubleline.com/markets-insights/refinancing-resurgence-why-lower-mortgage-rates-are-unlocking-relief-for-households/): Housing is the business cycle. – Edward Leamer (2007) The Federal Reserve’s rate cut last week, its first since December, was hardly a surprise – markets had been anticipating it for months. The federal funds rate has moved down from its 2023 peak of 5.50% to 4.25%, and futures are pricing another 125 basis points of easing
- [Weak Jobs, or Just Fewer Workers? Rethinking Payroll Signals](https://doubleline.com/markets-insights/weak-jobs-or-just-fewer-workers-rethinking-payroll-signals/): Shrinking and aging workforces challenge economic sustainability. — Michael Lokshin, Brookings, December 2024 The U.S. labor force has added just 34,000 workers from February through August 2025, compared with more than 1.1 million over the same period in 2024, according to the U.S. Bureau of Labor Statistics (BLS). We use February as the starting point
- [Is Gold Becoming the New Neutral Reserve (Again)?](https://doubleline.com/markets-insights/btl-is-gold-becoming-the-new-neutral-reserve-again/): History repeats itself in the large because human nature changes with geological leisureliness. — Will Durant (“The lessons of History”) The U.S. dollar has long been the cornerstone of the global financial system. Today, it still accounts for nearly half of international reserves, far outpacing any rival currency and near its highest share in history.
- [Japan’s Long Bond Joins the Global Repricing](https://doubleline.com/markets-insights/btl-japans-long-bond-joins-the-global-repricing/): Bond investors are the economy's bond vigilantes. ... So if the fiscal and monetary authorities won’t regulate the economy, the bond investors will. - Ed Yardeni, 1983 For decades, Japan’s government bond market was synonymous with yield suppression. Thirty-year Japanese Government Bonds (JGBs) hovered near zero as the Bank of Japan (BOJ) relied on yield
- [Manufacturing Ripples Beneath the Surface](https://doubleline.com/markets-insights/manufacturing-ripples-beneath-the-surface/): We dance round in a ring and suppose, But the Secret sits in the middle and knows. - Robert Frost U.S. manufacturing might be holding up better than many would expect given the economic and geopolitical strain of the past several years. Average weekly manufacturing hours worked recently reached 41.4, the highest reading since 2022,
- [A Warning From Fertilizer Prices](https://doubleline.com/markets-insights/a-warning-from-fertilizer-prices/): If agriculture goes wrong, nothing else will have a chance to go right. – Dr. M.S. Swaminathan Food inflation begins outside the grocery aisle with fertilizer, fuel, seed, chemicals, freight, financing and other inputs that farmers need before harvest. Since the start of the Iran war, World Bank Commodities Price Data for fertilizers has surged
- [Still Number Two](https://doubleline.com/markets-insights/still-number-two/): Won't you be my number two? Me, and number one are through. There won't be too much to do. Just smile when I feel blue. -Joe Jackson, Be My Number Two. President Donald Trump’s meeting with President Xi Jinping in Beijing this week puts U.S.-China economic competition back in focus for investors and policymakers. Behind
- [Ken Shinoda on Housing, CRE and the Case for Carry | Bloomberg TV](https://doubleline.com/markets-insights/ken-shinoda-on-housing-cre-and-the-case-for-carry-bloomberg-tv/): DoubleLine Portfolio Manager Ken Shinoda joins Bloomberg’s The Close live from DoubleLine’s L.A. offices to discuss the mortgage market and housing. With the 30-year fixed rate creeping back to 6.4%, the housing market remains in a standoff, but Mr. Shinoda argues this environment has created one of the more compelling credit backdrops for residential mortgage
- [Jeffrey Gundlach on Private Credit's Wild West and a U.S. Debt Tail Risk | Bloomberg TV](https://doubleline.com/markets-insights/jeffrey-gundlach-on-private-credits-wild-west-and-a-u-s-debt-tail-risk-bloomberg-tv/): DoubleLine CEO and CIO Jeffrey Gundlach joins Bloomberg’s The Close live from DoubleLine’s L.A. offices, opening with a stark warning on private credit. Gundlach argues that the trust problem is accelerating — drawing a vivid Wild West parallel to describe how an influx of fast money overwhelms a previously stable market — and expects redemption
- [Bill Campbell on Global Bond Markets and Powell's Parting Gift | Bloomberg TV](https://doubleline.com/markets-insights/bill-campbell-on-global-bond-markets-and-powells-parting-gift-bloomberg-tv/): DoubleLine Portfolio Manager Bill Campbell joins Bloomberg’s The Close live from DoubleLine’s L.A. offices to discuss what he sees as a structural sea change in global bond markets – one where developed market sovereign debt is increasingly being scrutinized with the same rigor historically reserved for emerging economies. Mr. Campbell argues that decades of fiscal
- [Channel 11: Bulls on Parade](https://doubleline.com/markets-insights/channel-11-bulls-on-parade/): DoubleLine’s Ken Shinoda opens his latest Channel 11 update declaring “bulls on parade” – and the data backs it up. Equity markets are ripping to new highs following a declared ceasefire in the Iran war, led by a near 20% gain in the Nasdaq Composite Index in April. The Mag Seven are back in front,
- [The Old Ceiling, the New Floor](https://doubleline.com/markets-insights/the-old-ceiling-the-new-floor/): Every ceiling, when reached, becomes a floor upon which one walks as a matter of course and prescriptive right. – Aldous Huxley Core CPI (Consumer Price Index) no longer behaves the way investors were trained to expect during the post-Global Financial Crisis (GFC) decade. Inflation averaged 2.8% from 1990 through 2007, fell to 1.9% from
- [Powell’s Parting Gift: How One Chair’s Dissents Could Constrain the Next](https://doubleline.com/markets-insights/powells-parting-gift-how-one-chairs-dissents-could-constrain-the-next/): Federal Reserve Chair Jerome Powell, according to a paper by DoubleLine’s Bill Campbell, has presided over a transition in the decision-making culture of the Fed’s rate-setting body from one dominated by the chair to a one of more independently minded members – likely a durable change that will constrain the policy leadership of his successor-apparent
- [Jeffrey Gundlach: Beware the Ides of June | CNBC](https://doubleline.com/markets-insights/jeffrey-gundlach-beware-the-ides-of-june-cnbc/): DoubleLine CEO-CIO Jeffrey Gundlach joins CNBC’s Scott Wapner following Federal Reserve Chair Jerome H. Powell’s final FOMC press conference. Mr. Gundlach describes the event’s tone as notably hawkish and calls the bond market’s resultant sell-off entirely justified. With oil prices elevated and tariff effects unlikely to fade quickly, he sees headline CPI reaching a 4
- [DoubleLine Corporate Overview](https://doubleline.com/markets-insights/doubleline-corporate-overview/): DoubleLine is an independent, employee-owned money management firm committed to helping you achieve your investment goals. We offer an array of investment strategies and vehicles backed up by a consistent and tested portfolio management team. Led by CEO-CIO Jeffrey Gundlach, DoubleLine was founded in 2009 when Mr. Gundlach came to believe his goal of asset
- [From Rotation to Reversal](https://doubleline.com/markets-insights/from-rotation-to-reversal/): Those who make antitheses by forcing words are like those who make false windows for symmetry. – Blaise Pascal As highlighted in Sector Concentration in the S&P 500: Digital vs. Physical Sectors, the market entered 2026 with software and other digital sectors still dominant, while energy and other physical sectors remained much smaller in both
- [ISM Prices Paid Has Posted One of the Largest Two-Month Moves on Record](https://doubleline.com/markets-insights/ism-prices-paid-has-posted-one-of-the-largest-two-month-moves-on-record/): Nothing is so painful to the human mind as a great and sudden change. — Mary Shelley The ISM Manufacturing Prices Paid Index rose 19.3 points over two months in March, marking one of the largest increases in the history of the series. The change ranks in the top 2% of two-month observations since 1948
- [The More Important Inflation Rate](https://doubleline.com/markets-insights/the-more-important-inflation-rate/): After a storm comes a calm. — Matthew Henry Oil shocks move quickly through markets. Inflation expectations follow these shocks. The initial moves draw most of the attention, but the more important question is how much of the shock investors expect to persist once the first reaction fades. The one-year inflation swap reflects the inflation
- [Wages of War: Opportunities Amid Risks](https://doubleline.com/markets-insights/wages-of-war-opportunities-amid-risks/): Bill Campbell, head of the Global Sovereign & Emerging Markets (GSEM) team at DoubleLine, shares the GSEM's current thinking on the medium-term market and macroeconomic impacts of the Iran war. “To be sure, Operation Epic Fury has raised serious risks on the global inflation and growth fronts,” Mr. Campbell writes. “Beyond those shocks, I foresee
- [Channel 11: The Land of Pain - Part Deux](https://doubleline.com/markets-insights/channel-11-the-land-of-pain-part-deux/): DoubleLine Portfolio Manager Ken Shinoda breaks down the “Land of Pain” in March across equities, commodities and fixed income, reviewing market performance with an eye on risk management, global allocation, duration strategy and where opportunities might emerge as markets reprice risk. Most sectors of the S&P 500 Index turned negative on the month, with the
- [Interpreting Labor Signals in a High-Revision Regime](https://doubleline.com/markets-insights/interpreting-labor-signals-in-a-high-revision-regime/): Monthly nonfarm payrolls reporting by the Bureau of Labor Statistics, one of the Tier 1 barometers of the U.S. economy, has deteriorated in the reliability of its initial readings as reflected in the increasing amplitude of later revisions to the first prints. Moreover, the BLS over the past year has consistently overstated payroll gains in
- [Rethinking Economic Signals Beyond the BLS](https://doubleline.com/markets-insights/rethinking-economic-signals-beyond-the-bls/): Fixed Income Allocation Strategist Ryan Kimmel explores the growing challenges faced by the U.S. Bureau of Labor Statistics in producing accurate monthly employment figures amid a decline in survey participation by U.S. businesses. An extended drop-off in recent years in survey response rates and a resultant increased reliance on statistical imputation to fill gaps in
- [Jeffrey Gundlach on U.S. Debt, Private Credit and Gold | The Julia La Roche Show](https://doubleline.com/markets-insights/jeffrey-gundlach-on-u-s-debt-private-credit-and-gold-the-julia-la-roche-show/): DoubleLine CEO-CIO Jeffrey Gundlach visits The Julia LaRoche Show for a wide-ranging macroeconomic conversation on the U.S. fiscal crisis, rising long-term interest rates and why American investors are dangerously overexposed to domestic assets. Mr. Gundlach argues the secular decline in interest rates is over, long-term U.S. Treasury yields will continue rising even through a recession,
- [Jeffrey Gundlach: The Case for Rate Cuts Is Falling Apart | CNBC](https://doubleline.com/markets-insights/jeffrey-gundlach-the-case-for-rate-cuts-is-falling-apart-cnbc/): DoubleLine CEO Jeffrey Gundlach joins CNBC’s Scott Wapner for a wide-ranging discussion on the macroeconomic landscape, with a particular focus on credit markets, monetary policy and cross-asset positioning. Mr. Gundlach highlights a divergence between equity volatility and fixed income stress, emphasizing widening credit spreads across high yield, investment grade and emerging markets despite relatively muted
- [Gundlach Unlocked: Positioning for Inflation and a Weaker Dollar](https://doubleline.com/markets-insights/gundlach-unlocked-positioning-for-inflation-and-a-weaker-dollar/): In the inaugural episode of Gundlach Unlocked, DoubleLine CEO Jeffrey Gundlach outlines his current macroeconomic outlook and how investors should be thinking about positioning in today’s market environment. Mr. Gundlach discusses why inflation might remain structurally above the Federal Reserve’s 2% target, why long-term interest rates have not meaningfully declined despite rate cuts, and why
- [Shinoda: Why the Fed Is Stuck on Hold | Bloomberg TV](https://doubleline.com/markets-insights/shinoda-why-the-fed-is-stuck-on-hold-bloomberg-tv/): DoubleLine Portfolio Manager Ken Shinoda joins Bloomberg TV to discuss the Federal Reserve’s increasingly constrained position as rising energy prices and persistent inflation complicate the outlook for rate cuts. Mr. Shinoda explains how the recent spike in oil has reduced the likelihood of easing this year, with markets now pricing in fewer cuts as the
- [Jeffrey Gundlach: Powell’s ‘We Don’t Know’ Signals Rising Fed Uncertainty](https://doubleline.com/markets-insights/jeffrey-gundlach-powells-we-dont-know-signals-rising-fed-uncertainty/): DoubleLine CEO Jeffrey Gundlach breaks down the Federal Reserve’s latest policy decision and Chair Jerome H. Powell’s press conference, highlighting the Fed’s repeated admission of uncertainty and shifting outlook on inflation and growth. In this timely market commentary, Mr. Gundlach analyzes rising inflation forecasts, the impact of higher commodity prices and why the Fed lags
- [Channel 11: Skynet or OPEC? What Keeps You Up at Night?](https://doubleline.com/markets-insights/channel-11-skynet-or-opec-what-keeps-you-up-at-night/): February delivered a sharp rotation across global markets, and in this episode of Channel 11, DoubleLine Portfolio Manager Ken Shinoda breaks down what’s driving the shift. The discussion explores two dominant forces shaping investor sentiment: AI disruption and rising energy prices. Software and big-tech hyperscalers have come under pressure amid questions about AI monetization and
- [Jeffrey Gundlach: Our Next Turning Point](https://doubleline.com/markets-insights/jeffrey-gundlach-our-next-turning-point/): DoubleLine CEO and CIO Jeffrey Gundlach delivers a sharp macro assessment spanning credit markets, interest rate dynamics, equity valuations, and the evolving role of gold in central bank reserves. He examines where we stand in the economic cycle, the implications of shifting correlations across asset classes, and how investors should think about risk, duration, and
- [EM-DM Convergence: A Secular Trade on Deglobalization](https://doubleline.com/markets-insights/em-dm-convergence-a-secular-trade-on-deglobalization/): Since Donald Trump’s re-election with Republican congressional majorities, investors understandably have focused on changing U.S. policy as the instrumental mover of markets. That preoccupation, however, has diverted attention from the change in the structural landscape of the globe over the past half-decade. Deglobalization, Global Bond Portfolio Manager Bill Campbell writes, remains underappreciated and underpriced in
- [Volatility Laundering in Private Credit](https://doubleline.com/markets-insights/volatility-laundering-in-private-credit/): When Smooth Returns Hide Real Risk in the Late-Cycle Credit Environment The evolution of leveraged finance credit markets over the past five years should prompt investors to recalibrate their expectations when assessing private versus public credit today, particularly from an alpha-generation and late-cycle perspective. At a broad level, private credit portfolios relative to public credit
- [Channel 11: Roses Are Red, Violets Are Blue, Is AI Too Good to Be True?](https://doubleline.com/markets-insights/channel-11-roses-are-red-violets-are-blue-is-ai-too-good-to-be-true/): In the February episode of Channel 11, DoubleLine Portfolio Manager Ken Shinoda examines emerging markets divergences as U.S. equities move sideways and leadership begins to rotate. He discusses the shift away from mega-cap tech toward industrials, value sectors and international equities alongside developments in rates, currencies, commodities and fixed income. Mr. Shinoda also explores what
- [Are Markets Trading on Bad Data? | Money Life with Chuck Jaffe](https://doubleline.com/markets-insights/are-markets-trading-on-bad-data-money-life-with-chuck-jaffe/): In this Money Life conversation, DoubleLine Fixed Income Strategist Ryan Kimmel visits host Chuck Jaffe to speak about growing concerns over the reliability of U.S. economic data and its implications for markets. Mr. Kimmel explains why Bureau of Labor Statistics employment reports have become more prone to revisions due to declining response rates and increased
- [Shinoda on Earning Carry in a Sideways Market | Bloomberg TV](https://doubleline.com/markets-insights/shinoda-on-earning-carry-in-a-sideways-market-bloomberg-tv/): With policy rates on hold and rate-cut expectations still shifting, DoubleLine Portfolio Manager Ken Shinoda joins Bloomberg TV to break down where carry remains attractive, how the firm is positioning across duration and credit, and why select securitized and floating-rate assets continue to offer compelling risk-adjusted income. The conversation also addresses tight spreads, rising issuance
- [Gundlach on Powell, Policy and What the Fed Isn’t Saying | CNBC](https://doubleline.com/markets-insights/gundlach-on-powell-policy-and-what-the-fed-isnt-saying-cnbc/): DoubleLine CEO-CIO Jeffrey Gundlach joins CNBC’s Scott Wapner immediately following Federal Reserve Chair Jerome H. Powell’s FOMC press conference to share his real-time reaction to the Fed’s policy outlook. Mr. Gundlach breaks down what Chair Powell’s comments signal for interest rates, inflation and the broader economy as markets digest the latest Fed decision to hold
- [DoubleLine Asset-Backed Securities 2025 Recap & 2026 Outlook](https://doubleline.com/markets-insights/abs-2025-recap-2026-outlook/): In 2025, the asset-backed securities (ABS) market found itself financing the technology that could drive the future of our economy while simultaneously reeling from a subprime auto lender fraud scandal – making it one of the most riveting years in the ABS market in decades. Adding to the headlines, the market shattered previous records with
- [Treasury Market Potential for Foreign Exits](https://doubleline.com/markets-insights/treasury-market-potential-for-foreign-exits/): With China systematically reducing its holdings of U.S. Treasury securities, the federal government and Treasury market can ill afford a wave of other large foreign sellers of U.S. debt, warns Bill Campbell, Portfolio Manager, Global Sovereign Debt, at DoubleLine Capital. The risk of such exits from the Treasury market, he writes in a new report,
- [DoubleLine Round Table Prime 2026: Macroeconomic Outlook](https://doubleline.com/markets-insights/doubleline-round-table-prime-2026-macroeconomic-outlook/): In the Macro segment of DoubleLine’s 2026 Round Table Prime, DoubleLine Deputy CIO Jeffrey Sherman moderates a discussion among leading macroeconomic thinkers of an increasingly complex and bifurcated global economic environment. The segment begins with a look at the reliability of economic data, growing divergence between public and private indicators and implications of a K-shaped
- [DoubleLine Round Table Prime 2026: Market Outlook](https://doubleline.com/markets-insights/doubleline-round-table-prime-2026-market-outlook/): In the Markets segment of DoubleLine’s 2026 Round Table Prime, DoubleLine Deputy CIO Jeffrey Sherman moderates a discussion on how investors should interpret equity, fixed income and credit markets amid elevated valuations, structural shifts in market plumbing and changing Federal Reserve dynamics. The segment explores how policy expectations, sentiment and passive flows are increasingly shaping
- [DoubleLine Round Table Prime 2026: Best Ideas](https://doubleline.com/markets-insights/doubleline-round-table-prime-2026-best-ideas/): The Best Ideas segment of DoubleLine’s 2026 Round Table Prime translates macro and market themes into portfolio positioning. Moderated by DoubleLine Deputy CIO Jeffrey Sherman, the discussion spans global equities, fixed income, commodities and real assets. Rather than focusing on a single trade, panelists emphasize diversification, liquidity and adaptability in navigating a volatile policy and
- [DoubleLine Views on the U.S. Dollar](https://doubleline.com/markets-insights/doubleline-views-on-the-dollar/): DoubleLine believes the U.S. dollar peaked in September 2022, as measured by the DXY Index. While we see the disinflation trend continuing, inflation surprises or a flight-to-quality move could cause dollar strength in the near term. DoubleLine would view any near-term strength in the dollar as an entry point to add to a short dollar
- [DoubleLine Views on the U.S. Dollar](https://doubleline.com/markets-insights/doubleline-views-on-the-us-dollar/): DoubleLine believes the U.S. dollar peaked in September 2022. We would view any near-term strength in the dollar as an entry point to add to a short dollar position via emerging markets (EM) hard currency, EM local currency, non-dollar developed markets bonds or foreign exchange forwards. DoubleLine maintains the view that the dollar will decline
- [Jeffrey Gundlach: "Just Markets" Webcast](https://doubleline.com/markets-insights/jeffrey-gundlach-just-markets-2026-clue/): In DoubleLine’s latest annual Just Markets webcast, “Clue,” CEO-CIO Jeffrey Gundlach frames his market outlook using the logic-based structure of the classic board game, focusing on identifying the who, where and what behind today’s economic and financial challenges. He argues that markets are providing clear signals – or “clues” – about the forces shaping the
- [Perspectives: Securitized Credit 101: Understanding the Balance Sheet Behind Structured Finance](https://doubleline.com/markets-insights/perspectives-securitized-credit-101-understanding-the-balance-sheet-behind-structured-finance/): In this episode of Perspectives, Client Portfolio Manager Phil Gioia sits down with Portfolio Manager Andrew Hsu to demystify the securitization process and address common misconceptions around transparency in securitized markets. Through a balance-sheet framework, the discussion compares corporate and securitized investments, illustrating how fixed asset pools, clearly defined liabilities, and structured equity positions create
- [Trump’s Western Hemisphere Pivot and the Implications for Latin America](https://doubleline.com/markets-insights/trumps-western-hemisphere-pivot/): Valerie Ho, CFA, a Portfolio Manager on DoubleLine’s Global Sovereign Debt team, and Nicholas Engler, an Analyst on the team, discuss the ramifications for Latin American issuers of sovereign debt amid a sea change in American foreign policy signaled by the U.S. capture and indictment of Venezuela President Nicolás Maduro. “Operation Absolute Resolve, as the
- [トータル・リターン・ウェブキャストの 注目すべきマクロポイント](https://doubleline.com/markets-insights/kaz-okamura-highlights-us-pressures-macroeconomic-signals/): ダブルライン・インベストメント・マネジメントの在日代表の岡村和宏氏は、米国の財政圧力の高まりと今後の金利見通し、さらに景気後退の可能性に焦点を当てています。 景気拡大期にも拘わらず財政赤字と政府債務は大幅に拡大し、国債の利払い額が増加しています。近年、金利は上昇しましたが、今後のFRBによる利下げ期待はイールドカーブの短期ゾーンの利回りを低下させる可能性がある一方で、長期ゾーンの利回りは財政懸念から景気が減速しても低下しない可能性があります。また歴史的に信頼性の高い複数の経済指標が景気後退リスクの高まりを示唆しているものの、景気後退は未だ発生しておらず、今後の米国経済の動向を注視する必要があると述べています。
- [Winds of Change: DM Safe Haven No Longer to Be Taken for Granted](https://doubleline.com/markets-insights/winds-of-change-dm-safe-haven-no-longer-to-be-taken-for-granted/): The sovereign debt of developed market (DM) countries for decades was largely presumed to float free of governance and societal risk factors endemic to the sovereign issues of emerging markets (EM) countries. Global Bond Portfolio Manager Bill Campbell says this luxury is no longer the case. “Market participants are coming to the realization,” Mr. Campbell
- [Channel 11 Wraps Up 2025: Highlights, Hits & Hidden Tracks](https://doubleline.com/markets-insights/channel-11-wraps-up-2025/): In his final Channel 11 episode of the year, DoubleLine Portfolio Manager Ken Shinoda reviews a market landscape defined by early year volatility; a powerful resurgence in U.S. equities; and the continued dominance of growth-led, AI-driven sectors. Mr. Shinoda covers the stark divergence between megacap tech strength and lagging value and cyclical stocks, the implications
- [2026 Credit Market Outlook: Boring, Choppy or Hot?](https://doubleline.com/markets-insights/2026-credit-market-outlook-boring-choppy-or-hot/): In this 2026 Credit Market Outlook round table, DoubleLine’s Phil Gioia moderates a wide-ranging discussion with Portfolio Managers Robert Cohen, Ken Shinoda and Morris Chen, exploring how shifting macroeconomic dynamics, valuations and emerging structural themes – most notably AI-driven capital investment – are shaping today’s credit landscape. The group revisits lessons from the post-2023 recovery,
- [A Closer Look at the DoubleLine Total Return Tactical Strategy](https://doubleline.com/markets-insights/a-closer-look-at-the-dl-tr-tactical-strategy/): The DoubleLine Total Return Tactical Strategy seeks to maximize total return over a full market cycle by actively investing across global fixed income sectors. The strategy normally maintains a shorter duration and higher yield than its benchmark, the Bloomberg US Aggregate Bond Index. Active management is the centerpiece of DoubleLine’s investment philosophy as the investment
- [Jeffrey Gundlach: You Need It, We Print It](https://doubleline.com/markets-insights/jeffrey-gundlach-you-need-it-we-print-it/): DoubleLine CEO-CIO Jeffrey Gundlach delivers a wide-ranging macro and market assessment framed around the theme “You need it, we print it,” highlighting a structural shift toward persistent fiscal deficits, expanding balance-sheet activity and rising long-term debt-servicing burdens. Drawing on historical deficit cycles, Mr. Gundlach illustrates how the U.S. has entered a “debt trap,” where incremental
- [U.S. Commercial Real Estate Outlook: CRE's Two-Speed Market](https://doubleline.com/markets-insights/u-s-commercial-real-estate-outlook-cres-two-speed-market/): Portfolio Manager Morris Chen explains why the CRE market is undergoing a continued but uneven recovery - defined by a two-speed dynamic. Property transaction volumes have improved, and capital markets have reopened. However, the pace and strength of recovery vary significantly across sectors. In the view of the DoubleLine CMBS/CRE team, this divergence presents both
- [Jeffrey Gundlach on “Well-Positioned” Fed | CNBC](https://doubleline.com/markets-insights/jeffrey-gundlach-on-well-positioned-fed-cnbc/): DoubleLine CEO-CIO Jeffrey Gundlach joins Scott Wapner on CNBC’s “Closing Bell” after Federal Reserve Chair Jerome H. Powell’s FOMC press conference to break down what Mr. Gundlach views as a surprisingly dovish message from the Fed. He emphasizes Chair Powell’s repeated claim that the Fed is “well positioned,” along with the Fed chief’s notable suggestion
- [Ken Shinoda on The Fed’s Liquidity Boost | Bloomberg TV](https://doubleline.com/markets-insights/ken-shinoda-on-the-feds-liquidity-boost-bloomberg-tv/): DoubleLine Capital Portfolio Manager Ken Shinoda joined Bloomberg TV, following Fed Chair Powell’s latest FOMC press conference, to provide real-time market analysis, emphasizing the Fed’s unexpectedly balanced—yet slightly dovish—policy stance and its impact on Treasury yields. Shinoda highlighted the bond market rally triggered by the Fed’s planned T-bill purchases, noting liquidity concerns in repo markets
- [Resilient Insurance Portfolios With ABS and ABF: The DoubleLine Edge | InsuranceAUM podcast](https://doubleline.com/markets-insights/resilient-insurance-portfolios-with-abs-and-abf-the-doubleline-edge-insuranceaum-podcast/): DoubleLine’s Andrew Hsu, CFA, and Fifi Wong – both portfolio managers in structured products – sit down with host Stewart Foley of InsuranceAUM to discuss the evolution of asset-backed securities (ABS) and asset-based finance (ABF) within insurance portfolios. Drawing on DoubleLine’s deep roots in securitized markets, the conversation explores how the firm identifies opportunities across
- [Jeffrey Gundlach Joins Bloomberg’s “Odd Lots”](https://doubleline.com/markets-insights/jeffrey-gundlach-joins-bloombergs-odd-lots/): DoubleLine CEO-CIO Jeffrey Gundlach joins “Odd Lots” hosts Tracy Alloway and Joe Weisenthal to dissect the biggest shifts in global markets over the past decade. Mr. Gundlach explains why the secular decline in long-term interest rates is over, why U.S. Treasury financing is becoming increasingly precarious and how persistent deficits could push the U.S. toward
- [Jeffrey Gundlach and Barclays CEO C.S. Venkat Discuss Partnership, Markets and the Global Economy](https://doubleline.com/markets-insights/jeffrey-gundlach-and-barclays-ceo-c-s-venkat-discuss-partnership-markets-and-the-global-economy/): DoubleLine CEO-CIO Jeffrey Gundlach sits down with Barclays CEO C.S. Venkatakrishnan (“Venkat”) for a wide-ranging discussion on global markets, investment strategy and leadership – moderated by DoubleLine Chief International Client Business Officer Ali Zaidi. The conversation explores the enduring partnership of DoubleLine and Barclays, tracing its origins to innovative collaborations such as the Shiller Barclays
- [Channel 11: Night of the Living Bulls](https://doubleline.com/markets-insights/channel-11-night-of-the-living-bulls/): In this month’s Channel 11 episode, DoubleLine Portfolio Manager Ken Shinoda recaps October’s rally and the macroeconomic themes driving it. With the Federal Reserve taking a dovish turn and economic data temporarily off the air – thanks to the government shutdown – Mr. Shinoda leans on the few numbers that are available to make sense
- [Channel 11: Stocks Melted Up, Bonds Carried on Amid Shutdown Worry](https://doubleline.com/markets-insights/channel-11-stocks-melted-up-bonds-carried-on-amid-shutdown-worry/): DoubleLine Portfolio Manager Ken Shinoda reviews a remarkable September during which stocks soared to new highs, government shutdown concerns loomed, and bonds continued to offer steady returns. He dives into the standout performance of information technology, communication services and growth stocks while also highlighting the resurgence of megacapitalization stock leaders and the ongoing debate between
- [Perspectives: Matching Liabilities With Opportunity: Fixed Income Strategies for Insurers](https://doubleline.com/markets-insights/perspectives-matching-liabilities-with-opportunity-fi-strategies-for-insurers/): DoubleLine’s Phil Gioia, Client Portfolio Manager, sits down with Paul Schroeder, Relationship Manager for Insurance Clients, to discuss the evolving landscape of insurance asset management. The conversation dives into the distinctions among life, property and casualty, and health insurers – and how each company’s liability structure drives unique investment needs. Messrs. Gioia and Schroeder examine
- [The Great Parking Lot: Record Cash in Money Market Funds](https://doubleline.com/markets-insights/the-great-parking-lot-record-cash-in-money-market-funds/): Every act of creation is first an act of destruction. - Pablo Picasso U.S. money market fund assets have climbed to nearly $7.4 trillion, equal to about 23% of nominal gross domestic product (GDP). That rivals the peaks reached after the Global Financial Crisis. There has been no forced deleveraging or faith shaken in risk
- [Jeffrey Gundlach on the Fed’s Foggy Path and Market Repercussions | CNBC](https://doubleline.com/markets-insights/jeffrey-gundlach-on-the-feds-foggy-path-and-market-repercussions-cnbc/): DoubleLine CEO Jeffrey Gundlach joins CNBC after the Federal Reserve’s 25-basis-point rate cut to share his outlook on the Fed’s next moves, inflation’s persistence and the U.S. Treasury yield curve’s steepening. Mr. Gundlach discusses why the market’s confidence in a December cut might be misplaced, how the Fed’s balance sheet strategy could reduce interest expense
- [Ken Shinoda: Bond Positioning in a Cautious Fed Era | Bloomberg TV](https://doubleline.com/markets-insights/ken-shinoda-bond-positioning-in-a-cautious-fed-era-bloomberg-tv/): DoubleLine Portfolio Manager Ken Shinoda joins Bloomberg TV following the FOMC’s 25-basis-point rate cut to share insights on the Fed’s cautious approach, the outlook for rate cuts and how fiscal risks are shaping the Treasury curve. Shinoda highlights opportunities on the short end of the curve, warns against reaching for yield amid tight credit spreads,
- [Silver’s Second-Best Year in History](https://doubleline.com/markets-insights/silvers-second-best-year-in-history/): At no time did I attempt to corner, squeeze or manipulate the silver market. — W. Herbert Hunt, testimony quoted by TIME, May 12, 1980 Silver has long been one of the most volatile precious metals, prone to sudden surges and equally sharp drops. Its volatility is especially evident in 2025, with a year-to-date return
- [TSMC – 50% of Taiwan](https://doubleline.com/markets-insights/tsmc-50-of-taiwan/): How do we know when irrational exuberance has unduly escalated asset values? - Alan Greenspan Taiwan Semiconductor Manufacturing Co. (TSMC) dominates the Taiwanese stock market, accounting for over half of the MSCI Taiwan Index – a level of concentration rarely seen in modern finance. TSMC’s rise shows how markets reward scale, channeling capital into the
- [Money Management Platform of the Year 2025](https://doubleline.com/markets-insights/money-management-platform-of-the-year-2025/): In today’s investment world, where information overload is the norm and financial jargon runs rampant, investors are often left sifting through a confusing and contradictory array of advice. At this juncture, the need for clarity, stability, and long-term value is more important than ever. That’s where DoubleLine steps in — a company built not just
- [Accessing Infrastructure Debt With DoubleLine](https://doubleline.com/markets-insights/accessing-infrastructure-debt/): Infrastructure debt may offer stable, long-term returns with defensive characteristics and has a demonstrated track record of resilience during recessions and economic downturns, making it an attractive option for investors. The sector offers broad diversification with investment opportunities in energy transition, renewable energy generation and digital infrastructure, among others, driven by global trends toward cleaner
- [Securitized Solutions for Insurance Asset Management](https://doubleline.com/markets-insights/securitized-solutions-for-insurance-asset-management/): Insurance companies today face rising macroeconomic and geopolitical uncertainty, prompting the need for a shift toward resilient, income-generating assets. Securitized fixed income offers an attractive solution for insurance companies' portfolios in this uncertain market environment. However, securitized fixed income remains underrepresented in many insurers' portfolios. DoubleLine is here to partner with insurers in this uncertain
- [DoubleLine’s Take on the Reciprocal Tariffs](https://doubleline.com/markets-insights/doublelines-take-on-the-reciprocal-tariffs/): DoubleLine Global Bond Portfolio Manager Bill Campbell shares DoubleLine’s outlook for risk markets, the U.S. Treasury curve, inflation, growth and Federal Reserve policy in light of Washington’s reciprocal tariffs and reactions of U.S. trade partners. Looming large on the global and U.S. macroeconomic horizons is time: The longer the announced tariffs remain in force, the
- [Yield Curve Steepening in the Near Term, Risk of Higher Term Premium Further Out](https://doubleline.com/markets-insights/yield-curve-steepening-in-the-near-term-risk-of-higher-term-premium-further-out/): The U.S. Treasury yield curve, DoubleLine Global Bond Portfolio Manager Bill Campbell writes in a new research paper, likely will steepen further under the effects of both federal funds rate cuts on short-term interest rates and fiscal pressures elevating the term premium embedded in longer-term Treasury yields. “In this cycle and beyond,” Mr. Campbell writes,
- [Terrible Trifecta: Paris, Berlin and Washington](https://doubleline.com/markets-insights/terrible-trifecta-paris-berlin-and-washington/): Since the formation of the European Common Market in 1957 and its transformation into the European Union (EU) in 1993, France and Germany have formed the core of the European project. The continent’s second-largest and largest economies, respectively, have entered fiscal and governing crises on the cusp of the U.S. under the second presidency of Donald Trump confronting the EU with strategic challenges on commercial, fiscal and defense fronts. I will survey the states of play in France and Germany, characterized by political limbo if not outright paralysis, in a context of internal economic anemia and fast-approaching yet still incipient challenges from the next administration in Washington.
- [Perspectives: How LatAm Elections Could Reshape the Region](https://doubleline.com/markets-insights/how-latam-elections-could-reshape-the-region/): DoubleLine Portfolio Manager Valerie Ho and Sovereign Analyst Nicholas Engler break down Latin America’s pivotal electoral cycle and its impact on the region’s economic landscape. With elections looming in Colombia, Brazil, Argentina and beyond, the two analyze how shifting voter sentiment, fiscal challenges and evolving U.S. relations are driving market dynamics across Latin America. From
- [The State of the U.S. Consumer Through the Lens of Asset-Backed Securities](https://doubleline.com/markets-insights/the-state-of-the-u-s-consumer-through-the-lens-of-asset-backed-securities/): Macroeconomic data and high frequency asset-backed securities (ABS) data analyzed in September 2024 by DoubleLine Portfolio Manager Andrew Hsu and ABS Trader Michael Fine show a persistently resilient U.S. consumer. In “The State of the U.S. Consumer Through the Lens of Asset-Backed Securities,” Messrs. Hsu and Fine attribute the consumer’s resilience to “the strength of
- [DoubleLine on the Impact of the U.S. Elections](https://doubleline.com/markets-insights/doubleline-on-the-impact-of-the-u-s-elections/): As Mr. Donald Trump’s victory became clearer leading up to and following Election Day, U.S. stocks reached all-time highs, the U.S. dollar strengthened, U.S. Treasury yields rose, and credit spreads tightened. DoubleLine CEO/CIO called the election “consequential” and “thinks it is right to see the Trump victory as reducing the odds for near-term recession”. However, Mr. Gundlach As Mr. Donald Trump’s victory became clearer leading up to and following Election Day, U.S. stocks reached all-time highs, the U.S. dollar strengthened, U.S. Treasury yields rose, and credit spreads tightened.
- [Would You Rather Lend to the U.S. Government or Microsoft?](https://doubleline.com/markets-insights/would-you-rather-lend-to-the-u-s-government-or-microsoft/): DoubleLine Investment Grade Corporate Bond Portfolio Manager Mariya Entina asks, “As a lender, would you prefer the U.S. government as your debtor or Microsoft?” Growing fiscal challenges raise serious concerns about the creditworthiness of U.S. government. In contrast, top-rated corporate credits – like Microsoft – are backed by ample cash-generating assets and significant corporate treasury
- [Bill Campbell on The Global Shift in U.S. Investment](https://doubleline.com/markets-insights/bill-campbell-on-the-global-shift-in-u-s-investment/): DoubleLine Global Bond Portfolio Manager Bill Campbell discusses the possibly long-term structural decline of the U.S. dollar, shifting dynamics in global capital flows and implications for U.S. Treasury yields. In an interview with Bloomberg’s Romaine Bostick and Alix Steel, recorded June 12, 2025, Mr. Campbell outlines why foreign investors are increasingly hedging U.S. exposure, how
- [Elections Factor - A Continental Crossroads for U.S.-Latin America Relations](https://doubleline.com/markets-insights/elections-factor-a-continental-crossroads-for-us-latam-relations/): DoubleLine Global Sovereign Debt Portfolio Manager Valerie Ho and Analyst Nicholas Engler preview national elections in 2025-2026 across eight Latin American countries in South and Central America and the stakes for the region in the U.S. midterm elections in November next year. “Latin America stands at an electoral crossroads,” Ms. Ho and Mr. Engler write.
- [Jeffrey Gundlach: Big Shifts Ahead in Markets and Policy | UBS Market Moves](https://doubleline.com/markets-insights/jeffrey-gundlach-big-shifts-ahead-in-markets-and-policy-ubs-market-moves/): In this episode of the UBS Market Moves Podcast, host Dan Cassidy welcomes DoubleLine CEO-CIO and founder Jeffrey Gundlach for the highly anticipated annual “Back to School on the Markets” conversation. The discussion explores U.S. trade policy, Federal Reserve monetary decisions, inflation dynamics and the evolving interest-rate environment. Mr. Gundlach outlines the implications of tariffs
- [Bill Campbell on Fiscal Pressures and EM Bonds | Bloomberg TV](https://doubleline.com/markets-insights/bill-campbell-on-fiscal-pressures-and-em-bonds-bloomberg-tv/): DoubleLine Portfolio Manager Bill Campbell, Head of Global Sovereign Debt, visits Bloomberg TV to discuss the Federal Reserve’s recent policy moves, outlook for the U.S. dollar and forces shaping the global fixed-income landscape. He explains how fiscal concerns in the U.S. and abroad remain a central driver of market dynamics, with deficits across Europe, the
- [CLOs Today: High Risk, Low Reward](https://doubleline.com/markets-insights/clos-today-high-risk-low-reward/): In “CLOs Today: High Risk, Low Reward?,” the authors examine the landscape for collateralized loan obligation (CLO) investors, highlighting a challenging environment marked by historically tight underlying loan spreads and elevated default rates. Unlike previous loan repricing cycles that coincided with strong credit conditions, today’s market presents compressed income and increased credit risk. The article
- [Jeffrey Gundlach on Fed Divisions, Overeasing and Global Opportunities](https://doubleline.com/markets-insights/jeffrey-gundlach-on-fed-divisions-overeasing-and-global-opportunities/): DoubleLine CEO-CIO Jeffrey Gundlach joins CNBC’s Closing Bell to share his perspective on the Fed’s “risk management” approach, highlighting the divided views within the FOMC and the implications of recent labor-market revisions. He underscores the risk of overeasing and stresses the importance of monitoring unemployment trends over job creation figures, given shifting demographics and labor
- [Jeffrey Gundlach: Survivor](https://doubleline.com/markets-insights/jeffrey-gundlach-survivor/): In his latest webcast, DoubleLine CEO-CIO Jeffrey Gundlach explores why the title “Survivor” aptly describes both today’s fixed-income landscape and Federal Reserve Chair Jerome H. Powell’s resilience. “Almost everyone notable in the bond business when I started is gone,” Mr. Gundlach says, noting how survival itself has become a defining feature of markets and policymakers.
- [Treasury Briefing: Trump, the Fed and Maturity Walls](https://doubleline.com/markets-insights/treasury-briefing-trump-the-fed-and-maturity-walls/): A briefing by DoubleLine Global Bond Portfolio Manager Bill Campbell explains that President Trump is pressuring the Federal Reserve to cut interest rates not only to stimulate the economy but also to head off a surge in government debt-service costs as maturing Treasuries are refinanced and new bonds are issued at prevailing rates in the
- [Channel 11: It’s Getting Hot in Here - Markets at Highs With Likely Fed Cut on Deck](https://doubleline.com/markets-insights/channel-11-its-getting-hot-in-here/): DoubleLine Portfolio Manager Ken Shinoda recaps a hot streak for markets in August on the latest episode of Channel 11, with credit spreads tightening, equities hitting new highs and speculative fervor supporting Bitcoin and meme stocks. Mr. Shinoda highlights how investor sentiment has improved significantly since spring, with recession fears fading and small-cap equities rising
- [Jeffrey Gundlach Breaks Down the Fed’s Dilemma and His Market Outlook](https://doubleline.com/markets-insights/jeffrey-gundlach-breaks-down-the-feds-dilemma-and-his-market-outlook/): DoubleLine CEO-CIO Jeffrey Gundlach joins CNBC’s Scott Wapner on Monday, Aug. 4, to unpack the latest Federal Reserve rate decision, a surprising jobs report and the broader implications for the U.S. economy and financial markets. Mr. Gundlach shares his first reaction to the Fed’s choice not to cut rates, criticizes the reliability of key economic
- [Securitizing the Digital Present & Future: Investing in Data Center Asset-Backed Securities](https://doubleline.com/markets-insights/securitizing-the-digital-present-future-investing-in-data-center-abs/): Data centers are crucial for our everyday activities. Demand seems insatiable and supply faces challenges. Vacancy rates are low, and rents are high. At DoubleLine we see a compelling case to invest in the data center ABS space. We see the present environment as a good opportunity to access high yielding opportunities with modest risk. Data centers are crucial for our everyday activities. Demand seems insatiable and supply faces challenges. Vacancy rates are low, and rents are high. At DoubleLine we see a compelling case to invest in the data center ABS space. We see the present environment as a good opportunity to access high yielding opportunities with modest risk. As an early adaptor in the space, our industry expertise and experience is crucial to identify compelling investment opportunities early on.
- [Perspectives: New Frontier for ABS - Financing Mission-Critical Data Centers](https://doubleline.com/markets-insights/perspectives-new-frontier-for-abs/): Stephan Diaz Ellinghaus, a Specialist in Structured Products on DoubleLine’s Asset-Backed Securities (ABS)/Infrastructure team, discusses (0:00) his outlook for ABS backed by data centers. The supply of data centers, Mr. Diaz Ellinghaus tells DoubleLine Client Portfolio Manager Phil Gioia, CFA, is being outstripped by demand for digital storage, processing and transmission capacity to drive traditional applications such as e-mail, messaging, data mining and streaming as well new developments such artificial intelligence and machine learning. He sees an attractive opportunity set in in terms of all-in yields and yield spreads for data center ABS across the capital structure. This conversation was recorded Dec. 11, 2024.
- [Portfolio Manager Bill Campbell on “The Asia Trade”](https://doubleline.com/markets-insights/portfolio-manager-bill-campbell-on-the-asia-trade/): DoubleLine Portfolio Manager Bill Campbell visits Bloomberg News’ “The Asia Trade” to share his insights on the state of U.S. Treasury yields coming in amid a period when the Federal Reserve is assessing the outlook for inflation and employment and the impact of the pending passage of a federal budget bill. Mr. Campbell also discusses
- [Asset-Backed Securities for Enhanced Return-To-Risk Potential](https://doubleline.com/markets-insights/asset-backed-securities-for-enhanced-return-to-risk-potential/): In a recent research paper, members of the DoubleLine asset-backed securities (ABS) team write that “(i)ncorporating ABS into a fixed income portfolio can add diversification and enhance the return-to-risk profile.” Along with an attractive yield profile, the authors note that among fixed income sectors, ABS exhibits one of the lowest correlations to the investment grade bond market as represented
- [Managing Capital Through Uncertain Times: Active Management & Structural Trends](https://doubleline.com/markets-insights/managing-capital-through-uncertain-times-active-management-structural-trends/): DoubleLine Portfolio Manager Bill Campbell shares how our investment teams are navigating heightened geopolitical uncertainty and market volatility – not by reacting to daily headlines but by focusing on three core strategies rooted in long-term structural trends. From U.S. Treasury yield-curve management to high-quality-credit selection and international diversification, he explains how active management enables DoubleLine
- [DoubleLine CEO Gundlach: Unemployment Relief Over Inflation Control](https://doubleline.com/markets-insights/doubleline-ceo-gundlach-unemployment-relief-over-inflation-control/): DoubleLine CEO Jeffrey Gundlach joins CNBC’s “Closing Bell” on June 18 to share his reaction to the latest Federal Reserve meeting and why he believes the central bank is more likely to prioritize employment over inflation in coming months. He discusses the Fed’s wait-and-see stance; inflationary risks from base effects, oil and tariffs; and why
- [Ken Shinoda on Bloomberg TV: Short, Safe and Selective](https://doubleline.com/markets-insights/ken-shinoda-on-bloomberg-tv-short-safe-and-selective/): DoubleLine Portfolio Manager Ken Shinoda joins Bloomberg TV’s “The Close” to break down the state of interest rates, credit and housing following the Federal Reserve’s June 18 meeting, where the federal funds rate was held steady. He shares why he’s neutral on the 10-year U.S. Treasury, cautious on the long end of the Treasury curve
- [Jeffrey Gundlach: Surreal](https://doubleline.com/markets-insights/jeffrey-gundlach-surreal/): DoubleLine CEO Jeffrey Gundlach explores the increasingly surreal disconnect in markets, policy and economic data. Drawing inspiration from surrealist art, Mr. Gundlach highlights how traditional relationships – like those among interest rates, inflation and U.S. dollar – are breaking down. He discusses the Federal Reserve’s uncertain policy path, the flattening of inflation progress and why
- [Channel 11: The Land of Gains... for Now](https://doubleline.com/markets-insights/channel-11-the-land-of-gains-for-now/): DoubleLine Portfolio Manager Ken Shinoda recaps a surprisingly strong May across global equities and credit markets. Despite ongoing macro uncertainty, easing tariff concerns helped lift business and consumer sentiment, and consumer spending proved resilient. Mr. Shinoda breaks down a rebound in tech stocks, a divergence between market-cap- and equal-weighted stock indices and continued strength in
- [Investors Analyze India, Mexico and South Africa Elections](https://doubleline.com/markets-insights/investors-analyze-india-mexico-and-south-africa-elections/): DoubleLine Global Bond Portfolio Manager Bill Campbell moderates a June 6, 2024, discussion with fellow Portfolio Manager Valerie Ho and Sovereign Analyst Nicholas Engler on the national elections recently held in India, Mexico and South Africa. Among the topics covered: (0:57) Valerie Ho’s views on the surprising loss of the ruling Bharatiya Janata Party’s congressional
- [Shiller Enhanced CAPE® Overview](https://doubleline.com/markets-insights/shiller-enhanced-cape-overview/): • This material contains the opinions of the manager as of the date it was recorded and such opinions are subject to change without notice. • The material represents DoubleLine’s intellectual property. No portion of this presentation may be published, reproduced, transmitted, or rebroadcast in any media in any form without the express written permission
- [Strategic Commodities Strategy Overview](https://doubleline.com/markets-insights/strategic-commodities-strategy-overview/): • This material contains the opinions of the manager as of the date it was recorded and such opinions are subject to change without notice. • The material represents DoubleLine’s intellectual property. No portion of this presentation may be published, reproduced, transmitted, or rebroadcast in any media in any form without the express written permission
- [DoubleLine’s Jeff Mayberry on Oil, Gold and Economy](https://doubleline.com/markets-insights/doublelines-jeff-mayberry-on-oil-gold-and-economy/): DoubleLine Portfolio Manager Jeffrey Mayberry joins Yahoo Finance to break down the latest trends in oil and gold markets amid shifting global dynamics. He discusses how reduced capital expenditures by U.S. shale producers and easing recession fears could support a rebound in oil prices. On gold, Mr. Mayberry highlights strong central bank buying but notes
- [DoubleLine’s Jeffrey Gundlach on Fed Uncertainty, Private Credit Pitfalls and Waning Momentum of U.S. Exceptionalism](https://doubleline.com/markets-insights/doublelines-jeffrey-gundlach-on-fed-uncertainty-private-credit-pitfalls-and-waning-momentum-of-u-s-exceptionalism/): Jeffrey Gundlach, CEO-CIO of DoubleLine Capital, joined CNBC’s Scott Wapner live from the NYSE on May 7 to discuss Federal Reserve Chair Jerome H. Powell’s Federal Open Market Committee press conference. Mr. Gundlach emphasizes the uncertainty surrounding the Fed’s decisions, noting Chair Powell’s repeated use of phrases like “too early to know” and “we don’t
- [Channel 11: April Angst](https://doubleline.com/markets-insights/channel-11-april-angst/): In the latest episode of Channel 11, “April Angst,” DoubleLine Portfolio Manager Ken Shinoda delves into the month’s tumultuous market movements. Despite initial fears, equities largely reversed their losses, with the S&P 500 and Nasdaq showing resilience. He also highlights significant concerns around global growth, particularly due to tariffs, which have led to downgraded GDP
- [Jeffrey Gundlach on Tariffs and Market Volatility](https://doubleline.com/markets-insights/jeffrey-gundlach-on-tariffs-and-market-volatility/): DoubleLine CEO-CIO and Founder Jeffrey Gundlach joins CNBC’s Closing Bell with Scott Wapner on April 7, 2025, to discuss the recent reciprocal tariffs announced by President Donald Trump, emphasizing the significant widening of credit market spreads. He also expresses concern about the potential for leveraged investors to go bankrupt, stating, “This type of thing usually
- [Bill Campbell on Dollar Risks and Global Investment Shifts](https://doubleline.com/markets-insights/bill-campbell-on-dollar-risks-and-global-investment-shifts/): DoubleLine Global Bond Portfolio Manager Bill Campbell, April 4, 2025, discusses the impact of tariffs and geopolitical policies on the dollar and global investment trends. He explains how recent price actions and changes in U.S. policies are prompting foreign investors to reconsider their capital allocations, potentially leading to a repatriation of funds and increased dollar
- [Channel 11: Land of Pain](https://doubleline.com/markets-insights/channel-11-land-of-pain/): DoubleLine Portfolio Manager Ken Shinoda reviews financial markets for the month of April and year-to-date through April 3, 2025, including the significant sell-offs in equities and rallies in bonds amid growth concerns driven by recent tariff news. He describes the current market environment as the "land of pain," contrasting it with previous gains. He discusses
- [Perspectives: Trade War Risks & Opportunities With Bill Campbell](https://doubleline.com/markets-insights/perspectives-trade-war-risks-opportunities-with-bill-campbell/): Bill Campbell, DoubleLine Global Bond Portfolio Manager and author of the recent paper “Assessing Trump Trade Policy,” on March 13 shares with Perspectives host Chris Stegemann his framework for analyzing the “haphazard at best” rollout of Trump trade policies and the risks posed to financial markets and global growth. Mr. Campbell also discusses a sea
- [Gundlach: Fed's Inertia Sparks Economic Anxiety](https://doubleline.com/markets-insights/gundlach-feds-inertia-sparks-economic-anxiety/): DoubleLine CEO Jeffrey Gundlach discusses Federal Reserve Chair Jerome H. Powell’s remarks following the FOMC’s decision to maintain the target federal funds rate. Gundlach highlights Powell's emphasis on uncertainty and inertia in the current economic climate, noting the Fed's cautious approach amid geopolitical tensions and tariff impacts. He analyzes the implications of the Fed's updated
- [Ken Shinoda on Fed Induced Relief Rally](https://doubleline.com/markets-insights/ken-shinoda-on-fed-induced-relief-rally/): DoubleLine Portfolio Manager Ken Shinoda shares his reaction to the FOMC meeting and Fed Chair Jerome H. Powell’s press conference on Bloomberg TV’s “The Close,” recorded March 19, 2025. Mr. Shinoda notes that the market’s positive reaction, with stocks gaining and bond yields falling, was due to Chair Powell’s dovish tone. He also discusses the
- [Gundlach Macro Outlook: “Not in My Neighborhood”](https://doubleline.com/markets-insights/gundlach-macro-outlook-not-in-my-neighborhood/): In his market and macro outlook recorded March 11, DoubleLine CEO Jeffrey Gundlach reprises a theme he has been talking about for the past three years: Americans should diversify part of their investments “away from all U.S.-only investments.” (2:08) A review of risk market valuations, with U.S. risk assets, especially U.S. equities, which entered 2025
- [Morris Chen Discusses CMBS on Bloomberg TV](https://doubleline.com/markets-insights/morris-chen-discusses-cmbs-on-bloomberg-tv/): Morris Chen, leader of DoubleLine’s Commercial Mortgage-Backed Securities/Commercial Real Estate Debt team, on Feb. 20, 2025, joins 00:00 Bloomberg Television’s Katie Greifeld and Vonnie Quinn to discuss the state of commercial real estate, opportunities in CRE debt investing and his team’s preferred property types. Regarding the latter, Mr. Chen, who also is portfolio manager of
- [Channel 11: Ken Shinoda Tours “Whipsawed” Markets in February](https://doubleline.com/markets-insights/channel-11-ken-shinoda-tours-whipsawed-markets-in-february/): DoubleLine Portfolio Manager Ken Shinoda on March 4, 2025, surveys 00:00 sell-offs in risk assets and rallies in bonds amid 00:38 “a massive change in sentiment around growth,” spurred by weaker-than-expected macro readings. Highlights: 1:15 The Atlanta Fed GDP forecast, which calls for a 2.85% contraction in the first quarter. Mr. Shinoda cautions against overreacting
- [Assessing Trump Trade Policy](https://doubleline.com/markets-insights/assessing-trump-trade-policy/): DoubleLine Capital Global Bond Portfolio Manager Bill Campbell shares his thinking on trade policy under President Trump, including investment risks and opportunities as a protracted and episodic rollout of tariffs aimed at U.S. trade partners likely whipsaws currency exchange rates against the dollar through much of 2025. In “Assessing Trump Trade Policy: A Year of
- [Channel 11: January 2025 Markets: Leadership Changing?](https://doubleline.com/markets-insights/channel-11-january-2025-markets-leadership-changing/): In his Feb. 6 review of January’s financial markets, DoubleLine Portfolio Manager Ken Shinoda (0:05) asks whether dominant trades of months past and recent years – tech leadership in stocks, market-cap-weighted equity outperformance versus equal weight, and King Dollar – are signaling a regime change. Although a single month is too early to draw conclusions,
- [Jeffrey Gundlach: Fed Data Dependency at a New High](https://doubleline.com/markets-insights/jeffrey-gundlach-fed-data-dependency-at-a-new-high/): DoubleLine CEO-CIO and Founder Jeffrey Gundlach joins CNBC’s Scott Wapner to discuss the key takeaways from Wednesday’s FOMC meeting and Federal Reserve Chair Jerome H. Powell’s press conference, recorded on Jan. 29, 2025. Jeffrey Gundlach “shares his perspective on the Fed’s current stance, highlighting that “the market seems to have taken this at least a
- [Round Table Prime 2025: Market Outlook](https://doubleline.com/markets-insights/round-table-prime-2025-market-outlook/): The market segment (0:06) of Round Table Prime’s 2025 edition, among other topics, explores rare bear-steepening in Treasuries, a possible bubble in private credit, an impairment reckoning coming to small and regional banks, AI stock leaders as the bringers of Schumpeter creative destruction to the economy and the S&P 500 at CAPE ratios last seen
- [Round Table Prime: Lessons of 2024, Ideas for 2025](https://doubleline.com/markets-insights/round-table-prime-lessons-of-2024-ideas-for-2025/): In the final segment of this Round Table Prime, the panelists discuss lessons learned from 2024 and their investment ideas for 2025. Participating are DoubleLine CEO Jeffrey Gundlach and as moderator DoubleLine Deputy Chief Investment Officer Jeffrey Sherman with their “returning champions” James Bianco, President and Macro Strategist at Bianco Research; Danielle DiMartino Booth, Founder
- [Round Table Prime 2025: Macro Outlook](https://doubleline.com/markets-insights/round-table-prime-2025-macro-outlook/): During the macroeconomic segment of Round Table Prime’s 2025 edition (0:06), participants, among other issues, deliberate the future path of inflation, premature Trump administration assumptions at the Federal Reserve, the hidden but deepening distress of the U.S. consumer, the transformational unknowns of artificial intelligence and an awakening among Americans to their political class having abandoned
- [Agency Mortgage-Backed Securities: Thoughts From the Trading Desk](https://doubleline.com/markets-insights/agency-mbs-thoughts-from-the-desk/): As 2025 kicks off, DoubleLine presents its assessment of the Agency mortgage-backed securities (MBS) market and provides an update on where the asset class has been and where it could be headed. As DoubleLine has highlighted in the past (in May 2023 and October 2023 pieces) the Agency MBS market has experienced elevated spreads relative
- [Agency Mortgage-Backed Securities: Fannie and Freddie Private Again Under Trump?](https://doubleline.com/markets-insights/agency-mbs-fannie-freddie-private-again-under-trump-2-0/): With President-elect Donald Trump’s return to the White House, proposals have surfaced to take Fannie Mae and Freddie Mac out of conservatorship – where they’ve been since September 2008 – and privatize them. Privatizing these government-sponsored enterprises (GSEs), if pursued, would be a massive and complex project that would take multiple years and likely require
- [The Economist featuring Jeffrey Gundlach "America's debt cannot keep stacking up"](https://doubleline.com/markets-insights/the-economist-featuring-jeffrey-gundlach-americas-debt/): In a Dec. 13, 2024, guest column in The Economist, DoubleLine CEO Jeffrey Gundlach warns, “Under the next few presidential administrations, the national debt will mushroom beyond the government’s ability to service it, perhaps even beyond the credulity of the country’s creditors. In the coming years expect dollar debasement, debt restructuring or both.” Mr. Gundlach
- [Ken Shinoda on Bloomberg: Market Doesn’t Like Uncertainty](https://doubleline.com/markets-insights/ken-shinoda-on-bloomberg-market-doesnt-like-uncertainty/): DoubleLine’s Ken Shinoda joins Bloomberg TV to discuss market reactions to the Federal Reserve’s interest rate cut, the outlook for cuts in 2025, the impact of the incoming Trump administration’s pol…
- [Gundlach on the Fed in 2025: There’s a Lot of Uncertainty](https://doubleline.com/markets-insights/gundlach-on-the-fed-in-2025-theres-a-lot-of-uncertainty/): On Wednesday, Dec. 18, 2024, DoubleLine CEO-CIO Jeffrey Gundlach speaks with CNBC’s Scott Wapner on Federal Reserve Chair Jerome H. Powell’s remarks following the FOMC’s decision to cut the target federal funds rate by 25 basis points. Gundlach shares his thoughts on inflation data points not trending the direction the Fed wants, the lack of a base case for aggressive rate cutting in 2025, the impact of President-elect Trump’s “inflationary-ish” policies, interest expense on the federal deficit and portfolio positioning heading into next year.
- [Jeffrey Gundlach: Try to Remember - TR Macro](https://doubleline.com/markets-insights/jeffrey-gundlach-try-to-remember-tr-macro/): DoubleLine CEO and Chief Investment Officer Jeffrey Gundlach surveys how investors have entered a different world, in its markets, macroeconomics and forecast indicators, than we have experienced in our lifetimes.
- [Channel 11: I Shot The Tariff](https://doubleline.com/markets-insights/channel-11-i-shot-the-tariff/): In his Dec. 3, 2024, review of November’s markets and macro news, DoubleLine Portfolio Manager Ken Shinoda discusses the implications of 2024's record-breaking year for equities and near-record year for fixed income spreads. He examines the progress of “Trump trades” following President-elect Donald Trump’s election victory and his calls for tariffs and deregulation, noting the
- [Capitalizing on the Comeback: Commercial Real Estate](https://doubleline.com/markets-insights/capitalizing-on-the-comeback-cre/): We believe we are entering the most attractive environment for commercial real estate (CRE) lending since the Global Financial Crisis for several reasons: a reset of CRE valuations, improved credit metrics, and a decrease of lending competition as banks are sidelined. As the market enters a cycle of normalization, opportunities have emerged for non-bank lenders
- [Commercial Real Estate Update](https://doubleline.com/markets-insights/cre-update/): It’s Always Darkest Before the Dawn Throughout 2023, the Fed’s higher rate path added incremental stress to a CRE market already battling several headwinds, including higher borrowing costs, tightening lending standards and slowing transaction activity. After a significant rally in interest rates in the year’s final weeks, CMBS investors finally have reason to model less-punitive
- [Perspectives: The Rise in U.S. Treasury Yields: Trick or Treat?](https://doubleline.com/markets-insights/perspectives-the-rise-in-u-s-treasury-yields/): Steven Wald, Securitized Products Portfolio Manager at DoubleLine Capital, joins Client Portfolio Manager Phil Gioia to discuss the rise in U.S. Treasury yields that has followed the Federal Reserve’s cut of the federal funds rate in September. Mr. Wald runs down some of the factors such as strong data prints and presidential election expectations that Steven Wald, Securitized Products Portfolio Manager at DoubleLine Capital, joins Client Portfolio Manager Phil Gioia to discuss the rise in U.S. Treasury yields that has followed the Federal Reserve’s cut of the federal funds rate in September. Mr. Wald runs down some of the factors such as strong data prints and presidential election expectations that could be driving this somewhat counterintuitive move in Treasury yields. The two then discuss asset allocation opportunities in fixed income in the current environment.
- [Perspectives: Robert Cohen on Private vs. Public Corporate Credit](https://doubleline.com/markets-insights/perspectives-cohen-on-private-vs-public-corp-credit/): Robert Cohen, head of DoubleLine’s Global Development Credit team, analyzes private credit, including its transient venture beyond middle-market lending into large-borrower underwriting during the pandemic-ushered corporate capital vacuum and the decline of that timely trade in the wake of the full recovery of the syndicated loan and high yield bond markets. In 2020-2023, private credit
- [Channel 11: October Markets, Red Election Wave](https://doubleline.com/markets-insights/channel-11-october-markets-red-election-wave/): DoubleLine Portfolio Manager Ken Shinoda reviews (0:00) financial markets for the month of October and year-to-date through Nov. 11, 2024, including the rally in equities and credits amid rise in interest rates driven by expectations of more deficit spending, inflation and growth under the second presidency of Donald Trump. Among potential investment ideas, Mr. Shinoda DoubleLine Portfolio Manager Ken Shinoda reviews financial markets for the month of October and year-to-date through Nov. 11, 2024, including the rally in equities and credits amid rise in interest rates driven by expectations of more deficit spending, inflation and growth under the second presidency of Donald Trump.
- [Ken Shinoda on Bloomberg: Post-Election Market Insights & Outlook](https://doubleline.com/markets-insights/ken-shinoda-on-bbg-post-election-11-11-24/): Ken Shinoda, DoubleLine Portfolio Manager and Head of Structured Products, joins Bloomberg TV to explore the post-election rally in the equity space, volatility in the bond market and the rise in yields. He also discusses the potential impact of fiscal stimulus and deficit spending, the outlook for corporate credit and small-cap stocks, and the implications
- [Gundlach: Consequential Voters. Inconsequential Fed.](https://doubleline.com/markets-insights/gundlach-consequential-voters-inconsequential-fed/): On Thursday, November 7, 2024, DoubleLine CEO Jeffrey Gundlach shares his insights on Fed Chair Powell’s remarks following the FOMC’s decision to cut the target federal funds rate by 25 basis points. Gundlach notes that Powell has aligned the fed funds rate with the bond market, anticipating another rate cut in December. He also discusses
- [Jeffrey Gundlach Speaks at the Buffalo AKG Art Museum](https://doubleline.com/markets-insights/jeffrey-gundlach-speaks-at-the-buffalo-akg-art-museum/): In a conversation at the Buffalo AKG Art Museum with Drew Watson, Art Services Specialist at U.S. Trust, Bank of America, DoubleLine CEO Jeffrey Gundlach discusses his near-term outlook for Federal Reserve monetary policy, the prospects for sub-3% inflation into next year, a secular change in interest-rate regime rewriting the behavioral rules of markets and In a conversation at the Buffalo AKG Art Museum with Drew Watson, Art Services Specialist at U.S. Trust, Bank of America, DoubleLine CEO Jeffrey Gundlach discusses his near-term outlook for Federal Reserve monetary policy, the prospects for sub-3% inflation into next year, a secular change in interest-rate regime rewriting the behavioral rules of markets and the potential for a failed Treasury auction. The discussion was recorded Oct. 22, 2024.
- [Channel 11: A Second Chance for Yield Allocations](https://doubleline.com/markets-insights/channel-11-a-second-chance-for-yield-allocations/): In Channel 11’s September 2024 market review , DoubleLine Portfolio Manager reviews stretched valuations in equities amid a backup in fixed yields and concludes now is “definitely a time to start looking at the market for a potential chance to add some fixed income to your portfolio, whether it’s Treasuries, whether it’s pockets of the In Channel 11’s September 2024 market review , DoubleLine Portfolio Manager reviews stretched valuations in equities amid a backup in fixed yields and concludes now is “definitely a time to start looking at the market for a potential chance to add some fixed income to your portfolio, whether it’s Treasuries, whether it’s pockets of the credit markets.” This video was recorded Oct. 8, 2024.
- [Jeffery Gundlach on UBS “Market Moves” with Daniel Cassidy](https://doubleline.com/markets-insights/jeffery-gundlach-on-ubs-market-moves-with-daniel-cassidy/): DoubleLine Founder and CEO Jeffery Gundlach returns to the UBS “Market Moves” podcast to talk the U.S. economy after the Federal Reserve’s big rate cut, portfolio positioning and what the U.S. presidential election might mean for economic policy. Recorded Sept. 25, 2024.
- [DoubleLine’s Ken Shinoda Talks the Fed Rate Cut on Bloomberg TV](https://doubleline.com/markets-insights/doublelines-ken-shinoda-talks-fed-rate-cut-on-bloomberg-tv/): DoubleLine Portfolio Manager Ken Shinoda visits Bloomberg’s “The Close” to discuss the Federal Reserve’s half-point rate cut and what that could mean for fixed income investors.
- [Gundlach: The Fed’s “Recalibration,” 75 bps of More Rate Cuts in ’24 and Portfolio Positioning Post-Cut](https://doubleline.com/markets-insights/gundlach-the-feds-recalibration/): DoubleLine CEO and Founder Jeffrey Gundlach joins CNBC’s Scott Wapner on Fed Day, Sept. 18, 2024, at DoubleLine’s downtown L.A. office to discuss the Federal Reserve’s half-point rate cut, which Mr. Gundlach forecast and supports. Other topics include: – Why Mr. Gundlach thought the Fed should have cut in July. – Mr. Gundlach: “I think
- [1984: Jeffrey Gundlach’s Macro Outlook](https://doubleline.com/markets-insights/1984-jeffrey-gundlachs-macro-outlook/): In his webcast titled “1984” in remembrance of George Orwell’s dystopian novel, DoubleLine Founder and CEO Jeffrey Gundlach on Sept. 10, 2024, dives “into the subject of the Fed and some of the variables that will likely underpin their logic and their thinking” at the Sept. 18 meeting of the rate-setting Federal Open Market Committee
- [Channel 11: The Rate Cuts Are Coming](https://doubleline.com/markets-insights/channel11-the-rate-cuts-are-coming/): DoubleLine Portfolio Manager Ken Shinoda and Deputy Chief Investment Officer Jeffrey Sherman Sept. 3, 2024, review macro and markets for August amid very likely, but potentially overzealous discounting of, federal funds rate cuts. Highlights include: (1:02) of Macroeconomic surprises to the downside, which have helped bring interest rates as the markets expectations of rates cuts
- [Perspectives: Ryan Kimmel Updates DoubleLine’s Federal Debt Spiral Watch](https://doubleline.com/markets-insights/ryan-kimmel-federal-debt-spiral-watch/): Ryan Kimmel, Macro Asset Allocation Analyst at DoubleLine Capital, Aug. 22, 2024, discusses with Product Specialist Phil Gioia Mr. Kimmel’s latest research (0:00) on the U.S. deficit and debt spirals. The government’s fiscal position, Mr. Kimmel warns, are on a trajectory to become worrisome for markets, with possible implications including weaker GDP growth, a steeper
- [Ken Shinoda on Bloomberg TV: FOMC Reaction and Outlook](https://doubleline.com/markets-insights/ken-shinoda-on-bbg-tv-fomc-reaction/): DoubleLine Portfolio Manager and Head of Structured Products Ken Shinoda joins former Fed Governor Betsy Duke following the FOMC rate decision and Chair Powell’s press conference to share their reaction and outlook on the economy and markets with Bloomberg TV. Originally aired July 31, 2024.
- [Gundlach: 150 bps of Rate Cuts, Dangerous Geopolitics and U.S. Debt & Deficit Spirals](https://doubleline.com/markets-insights/gundlach-150-bps-of-rate-cuts-dangerous-debt-deficit-spirals-fomc/): DoubleLine CEO and Founder Jeffrey Gundlach joins CNBC’s Scott Wapner on Fed Day, July 31, 2024. Among other topics, Mr. Gundlach shares his outlook for 150 bps of fed funds rate cuts by a year from now, his gradualistic allocation from floating to fixed rate, his expectation of recession and navigating in an America on
- [Growth, Inflation & Credit Crosscurrents](https://doubleline.com/markets-insights/growth-inflation-credit-crosscurrents-cef-webcast/): In his midyear outlook for 2024, DoubleLine Deputy Chief Investment Officer Jeffrey Sherman on July 16 distills his analysis into three dominant factors: the slowing pace of growth, signs of progress on inflation and credit-cycle cross currents. Among the highlights of Mr. Sherman’s presentation: (0:01) U.S. real GDP growth forecasts for 2024 in comparison to
- [Channel 11: Tech It to the Limit](https://doubleline.com/markets-insights/channel-11-tech-it-to-the-limit/): (00:00) In his monthly review of macro and markets through June 2024 (0:05), DoubleLine Portfolio Manager Ken Shinoda on July 2 first surveys the extraordinary dominance of a handful of tech stocks, the market caps of the top seven mega caps now exceeding the capitalizations of all largest national stock markets outside the U.S. Beyond
- [Jeffrey Gundlach Fed Day - CNBC Closing Bell](https://doubleline.com/markets-insights/jeffrey-gundlach-fed-day-cnbc-closing-bell/): DoubleLine CEO-CIO Jeffrey Gundlach reacts to the Federal Reserve’s decision to leave interest rates alone and reviews Fed Chair Jerome H. Powell’s post-FOMC meeting press conference with @ScottWapnerCNBC, a guest at DoubleLine’s downtown L.A. office. The two discuss what Mr. Gundlach describes as a “remarkably vague” Q&A session with Chair Powell, and they cover subjects
- [Channel 11: Summertime and the Livin’ Is Easy](https://doubleline.com/markets-insights/channel-11-summertime/): Ken Shinoda, Portfolio Manager at DoubleLine Capital and Chairman of the firm’s Structured Products Committee, takes a look back at May market performance and macro news in what was a good month for bonds and stocks. Mr. Shinoda begins with a look at the rally in U.S. Treasury yields including a breakdown of the different
- [Global Macro, Rethinking Recession and Saving Social Security](https://doubleline.com/markets-insights/global-macro-recession-social-security/): Portfolio Manager Sam Garza hosts this DoubleLine macro talk with CEO-CIO Jeffrey Gundlach that begins with Mr. Gundlach recounting how an episode of “Lifestyles of the Rich and Famous” sparked his investment career. In the macro portion of this webcast, Mr. Gundlach discusses how analysts in 2023 misforecast the most expected recession ever (10:40), why
- [Channel 11: Tranquilo](https://doubleline.com/markets-insights/channel-11-tranquilo/): Ken Shinoda, Portfolio Manager at DoubleLine Capital and Chairman of the firm’s Structured Products Committee, reviews April performance in the markets and macro activity in the latest episode of Channel 11, “Tranquilo.” The name references the calming effect that the dovish tone struck at the FOMC meeting at the end of April seems to be
- [Jeffrey Gundlach FOMC Reaction](https://doubleline.com/markets-insights/jeffrey-gundlach-fomc-reaction/): DoubleLine CEO Jeffrey Gundlach, in a live interview filmed on May 1, 2024, following the FOMC release, responded to the Federal Reserve's dovish stance on rate hikes by expressing concerns about potentially underestimated inflation rates due to excluding core components. Despite market optimism post-meeting, Gundlach remains cautious about prolonged inflation levels. He recommended investments in
- [Disinflation? Reflation? Bonds for Both.](https://doubleline.com/markets-insights/disinflation-reflation-bonds-for-both/): In this April 16, 2024, webcast titled "Disinflation? Reflation? Bonds for Both," Deputy CIO Jeffrey Sherman provides valuable insights into the economic trends impacting the fixed income market. Mr. Sherman begins by examining macroeconomic conditions, highlighting global growth stories and emphasizing the pivotal role played by the U.S. economy. The discussion then shifts to the
- [Channel 11: The Land of Gains](https://doubleline.com/markets-insights/channel-11-the-land-of-gains/): Ken Shinoda, Portfolio Manager at DoubleLine Capital and Chairman of the firm’s Structured Products Committee, covers the gains across equity, fixed income and commodity markets in March, subsequent pricing action and a noteworthy improvement in certain leading macro indicators, including Manufacturing PMI. As a result, Mr. Shinoda notes, “U.S. economists are forecasting stronger economic growth
- [Jeffrey Gundlach on X Spaces: FOMC Reaction](https://doubleline.com/markets-insights/jeffrey-gundlach-on-x-spaces-fomc-reaction/): DoubleLine CEO-CIO Jeffrey Gundlach, following Fed Chair Jerome H. Powell’s press conference, shared his post-Federal Open Market Committee (FOMC) meeting reaction with P&I Editor-in-Chief Jennifer Ablan. On Wednesday, March 20, the FOMC left interest rates unchanged but suggested the possibility of three rate cuts this year. The market had anticipated more cuts initially but has
- [Channel 11: Good Times Bad Times](https://doubleline.com/markets-insights/channel-11-good-times-bad-times/): DoubleLine Portfolio Manager Ken Shinoda takes a look at the state of the markets and macro issues in his recap of February in addition to the economic outlook going forward, a potentially mixed bag summed up by the title of Led Zeppelin’s 1969 song “Good Times Bad Times.” He begins with a look at fixed
- [Por qué el 5% es el “número mágico” para activar el mercado inmobiliario estadounidense](https://doubleline.com/markets-insights/funds-society-ken-shinoda-doubleline/): Ken Shinoda, gestor de DoubleLine, defiende que los bonos hipotecarios estadounidenses ofrecen ahora mismo una atractiva oportunidad para los inversores de renta fija.
- [Jeffrey Gundlach Macro Insights](https://doubleline.com/markets-insights/jeffrey-gundlach-macro-insights/): In a comprehensive discussion filmed February 6, 2024, Jeffrey Gundlach, CEO of DoubleLine, addresses global economic and market challenges. He warns of rising inflation despite media downplaying, citing extensive central bank money printing and government interventions to tackle debt and income inequality. Gundlach expresses concerns about U.S. market resilience in future economic crises, linked to
- [Jeffrey Gundlach on CNBC's Closing Bell 2-13-24](https://doubleline.com/markets-insights/jeffrey-gundlach-on-cnbcs-closing-bell-2-13-24/): DoubleLine CEO Jeffrey Gundlach, with CNBC's Scott Wapner and Bob Pisani live at Exchange ETF in Miami, warns of added volatility to the economic cycle and rising interest rates post-recession thanks to the fiscal response and U.S. government debt burden. Despite the recent CPI report affecting expectations for interest rate cuts, Gundlach doubts it will
- [Perspectives: EM Opportunities Amid Risky Geopolitics](https://doubleline.com/markets-insights/perspectives-em-opportunities/): While armed conflicts and other geopolitical fault lines have made headlines the past two years, DoubleLine Global Bond Portfolio Managers Bill Campbell and Valerie Ho see (0:03) emerging markets having largely priced these risks and see opportunities in specific countries that have supportive monetary and fiscal policies amid global disinflation. This discussion was moderated Feb.
- [Channel 11: No Free Money on Wall Street](https://doubleline.com/markets-insights/channel-11-no-free-money-on-wall-street/): DoubleLine Portfolio Manager Ken Shinoda kicks off this episode of Channel 11 with a review of January 2024, calendar year 2023 and the consensus outlook for the U.S. economy (0:25). Then he covers his own outlooks for monetary policy, the U.S. economy and risks and opportunities in the markets for the year ahead. “The expectation
- [Jeffrey Gundlach Talks Macro and Markets with P&I Editor-in-Chief Jennifer Ablan](https://doubleline.com/markets-insights/jeffrey-gundlach-talks-macro-and-markets-with-jennifer-ablan/): In a Jan. 24, 2024, interview on Twitter Spaces with Pensions & Investments Editor-in-Chief Jennifer Ablan, DoubleLine Capital Founder and CEO Jeffrey Gundlach discusses momentum-ruled markets, his expectation of recession in 2024, suspicious patterns in labor market statistics, which investments to buy and what to avoid in the current market, and the coming restructuring of
- [Jeffrey Gundlach with Scott Wapner on CNBC following the FOMC Meeting](https://doubleline.com/markets-insights/jeffrey-gundlach-with-scott-wapner-on-cnbc-fomc/): DoubleLine CEO Jeffrey Gundlach discusses the latest Fed decision with Scott Wapner on CNBC following the FOMC Meeting. Originally aired January 31, 2024.
- [DoubleLine Round Table Prime 2024: Bonus Footage](https://doubleline.com/markets-insights/doubleline-round-table-prime-2024-bonus-footage/): DoubleLine's 2024 Round Table Prime was hosted in front of a live audience for the first time. After panelists presented their best ideas for 2024, the audience Q&A sparked candid debate ranging from commercial real estate, geopolitics, elections, corporate debt and budget negotiations. 00:06 Bank Term Funding Program 02:01 What Upsets the Applecart? 03:49 Bank
- [DoubleLine Round Table Prime 2024: Market Outlook](https://doubleline.com/markets-insights/doubleline-round-table-prime-2024-market/): During the markets segment of its 2024 edition, participants in DoubleLine Round Table Prime present their outlooks on various markets and topics for 2024. Coming together for Round Table Prime are DoubleLine CEO Jeffrey Gundlach and moderator DoubleLine Deputy Chief Investment Officer Jeffrey Sherman with their guests James Bianco, President and Macro Strategist at Bianco
- [DoubleLine Round Table Prime 2024: Macro Outlook](https://doubleline.com/markets-insights/round-table-prime-2024-part-1-macro/): During the macroeconomic segment of its 2024 edition, participants in DoubleLine Round Table Prime among other issues debate the seeming failure of the most telegraphed recession in history to materialize in 2023, the intersection of Federal Reserve policy with a presidential election year and deep changes in the economy post-2020. Coming together for Round Table
- [DoubleLine Round Table Prime 2024: Best Ideas](https://doubleline.com/markets-insights/doubleline-round-table-prime-2024-best-ideas/): Participants in DoubleLine Round Table Prime 2024 share their best trading and investment ideas for 2024. Coming together for Round Table Prime are DoubleLine CEO Jeffrey Gundlach and moderator DoubleLine Deputy Chief Investment Officer Jeffrey Sherman with their guests James Bianco, President and Macro Strategist at Bianco Research; Danielle DiMartino Booth, CEO of Quill Intelligence;
- [Jeffrey Gundlach’s “Just Markets” 2024: “Too Much to Say”](https://doubleline.com/markets-insights/just-markets-2024/): In his annual “Just Markets” webcast presented Jan. 9, 2024, DoubleLine CEO Jeffrey Gundlach among other outlooks shares his forecast for a U.S. recession, sees U.S. stocks forming a bearish double top and down the road expects an initial rally in bonds upon recession followed by an inflationary monetary response. He also warns of federal
- [Channel 11: Beware the Noise](https://doubleline.com/markets-insights/channel-11-beware-the-noise/): Monthly Market Review Channel 11 host and DoubleLine Portfolio Manager Ken Shinoda launches a monthly review webcast that will recap market and macro moves as well as offer Mr. Shinoda’s advice on What Looks Cheap. The episode begins with a review of a rough February for equities and fixed income (00:37), with Mr. Shinoda taking
- [Channel 11 News (More Episodes)](https://doubleline.com/markets-insights/channel-11-news-more-episodes/): For more episodes, please visit our DoubleLine Capital YouTube Channel
- [S3 E11: Goldilocks Is (Probably) Just a Fairy Tale](https://doubleline.com/markets-insights/s3-e11-goldilocks-is-probably-just-a-fairy-tale/): DoubleLine’s Ken Shinoda welcomes back Gerard Minack, director of Minack Advisors, to get Mr. Minack’s outlook on the markets for 2023, including what Mr. Minack sees as the equity market’s overconfidence in the Fed engineering a soft landing. “We can’t have both the rate market being right and what it’s forecasting and the equity market
- [DoubleLine Round Table Prime, 2023 - Part 3: Best Investment Ideas 1-4-23](https://doubleline.com/markets-insights/doubleline-rtp-2023-part-3/): In the third segment of Round Table Prime 2023, the panelists offer their best investment ideas for the year ahead. The panelists are host DoubleLine CEO Jeffrey Gundlach, and guests James Bianco, President and Macro Strategist at Bianco Research; Danielle DiMartino Booth, CEO of Quill Intelligence; author and Fox Business anchor Charles Payne; and David
- [DoubleLine Round Table Prime, 2023 - Part 2: Market Outlooks 1-4-23](https://doubleline.com/markets-insights/doubleline-rtp-2023-part-2-market-outlooks-1-4-23/): In the second segment of Round Table Prime 2023, the panelists offer their outlooks across equity, fixed income, commodity and other markets. Then they are asked to share hypothetical fixed 12-month asset allocations for the calendar year. The panelists are host DoubleLine CEO Jeffrey Gundlach, and guests James Bianco, President and Macro Strategist at Bianco
- [DoubleLine Round Table Prime, 2023 - Part 1: Macroeconomic "State of Play" 1-4-23](https://doubleline.com/markets-insights/doubleline-round-table-prime-2023-part-1/): 2023 could offer cyclical downturn in a landscape of secular change as the world appears on the threshold of global recession. Moreover, trends that for decades have driven economies, markets, monetary policy and governance might be staging reversals. In this first of three segments (0:08), DoubleLine CEO Jeffrey Gundlach and moderator DoubleLine Deputy Chief Investment
- [S3 E10 What Now? Allocating Equities in the Wake of a Bloody 2022](https://doubleline.com/markets-insights/s3-e10-what-now/): Channel 11 News’ Ken Shinoda welcomes DoubleLine Deputy Chief Investment Officer Jeffrey Sherman to recount equities’ brutal year before discussing allocation strategy. After a brief look at commodities (1:42) and bonds (worst year going back to 1978) (3:52), they get into what Mr. Shinoda calls a mixed bag for equity performance on the year (5:36).
- [S3 E9: Opportunities in Fixed Income](https://doubleline.com/markets-insights/s3-e9-opportunities-in-fixed-income/): DoubleLine Capital Portfolio Manager Ken Shinoda on Nov. 18, 2022, discusses (0:28) with Graham Hopper, head of the firm’s advisor team, compelling risk-return opportunities in fixed income, both in government-guaranteed bonds, notably Agency mortgage-backed securities (Agency MBS) and in credit, especially securitized credit. Mr. Shinoda observes that (3:06) managers of core plus bond funds “tend
- [S3 E8: Stifel’s Dr. Lindsey Piegza Shares Her Realistic Review of the Economy](https://doubleline.com/markets-insights/s3-e8-stifels-dr-lindsey-piegza/): Channel 11’s Ken Shinoda welcomes Dr. Lindsey Piegza, chief economist and managing director at Stifel, to discuss the state of the U.S. economy and just what the Federal Reserve is up to. They jump right into the topic of inflation (0:51), with Dr. Piegza reviewing a list of factors that could contribute to elevated levels
- [S3 E6: 2022 Mid-Year Review: Lots of Red. Lots of Questions](https://doubleline.com/markets-insights/ch-11-s3-e6-2022-mid-year-review/): Channel 11 News host and DoubleLine Portfolio Manager Ken Shinoda welcomes Graham Hopper, Head of DoubleLine’s Advisor Group, to review a rough first half of the year for investors, using commonly asked questions that Mr. Hopper gets from clients to help guide their discussion. The two kick things off with a rundown of how DoubleLine
- [S3 E1: Maybe It’s Different This Time](https://doubleline.com/markets-insights/ch-11-s3-e1-maybe-its-different-this-time/): Channel 11 host and DoubleLine Portfolio Manager Ken Shinoda welcomes Graham Hopper, head of the firm’s Relationship Management, Advisor Group, to talk about what’s going on in the markets, themes to follow in 2022 and what’s on the mind of DoubleLine clients in a period of tightening Federal Reserve policy. They begin with a look
- [S3 E5: Evolution in Asset-Backed Securities](https://doubleline.com/markets-insights/ch-11-news-s3-e5-abs/): Channel 11 host Ken Shinoda invites fellow DoubleLine portfolio manager Andrew Hsu to discuss asset-backed securities (ABS). ABS securitize a diverse array of non-mortgage assets, including legacy assets such as credit card, auto loan and student loan receivables, and new areas such as energy projects, transportation infrastructure and data warehousing. Mr. Hsu begins (0:57) with
- [S3 E4: Do Commodities Have Room to Run?](https://doubleline.com/markets-insights/ch-11-news-s3-e4-commodities/): Channel 11 News host and DoubleLine Portfolio Manager Ken Shinoda welcomes DoubleLine Portfolio Managers Samuel Lau and Jeff Mayberry to discuss the value of adding commodities to one’s portfolio in a period of high inflation and rising interest rates. Mr. Mayberry frames the discussion by addressing concern that investors might have on whether they missed
- [S3 E7: Looking Beyond the Crypto Credit Crisis of 2022](https://doubleline.com/markets-insights/ch-11-news-s3-e7-crypto/): Channel 11’s Ken Shinoda welcomes Hunter Horsley, co-founder and CEO of crypto index and ETF provider Bitwise Asset Management, for a deep dive into the crypto space and the tumultuous year it has been experiencing. It’s “always fun to talk about the craziness of crypto land,” notes Mr. Horsley, who begins the conversation with an
- [Surfing with the Tides: The Macroeconomic Case for Active Asset Allocation](https://doubleline.com/markets-insights/surfing-with-the-tides/): From the flawless right-hand point breaks of Santa Barbara and Malibu to the thumpingbeach breaks of Oxnard and Newport Beach, Southern California hosts an abundanceof surf spots. On the best days, these surf breaks are world class. Unfortunately for thesurfers among us, the requisite conditions don’t always line up, leaving us to make dowith less-than-ideal
- [Round Table Segment 1, Global Macroeconomy - Part 2](https://doubleline.com/markets-insights/round-table-segment-1-global-macroeconomy-part-2/): (to skip intros, please forward to 4:00 min) DoubleLine Capital’s Jeffrey Gundlach and his special guests hold the second annual edition of Round Table Prime, recorded Jan. 5, 2021. Joining Mr. Gundlach are Danielle DiMartino Booth, CEO and chief strategist of Quill Intelligence; James Bianco, president and macro strategist of Bianco Research; Edward Hyman, chairman
- [Round Table: "Dishing the Dirt" - Debt, Inflation, Reflation and Taper](https://doubleline.com/markets-insights/dishing-the-dirt/): For decades, governments of developed economies have covered their fiscal deficits with debt financing – in a forgiving context of tame consumer and producer prices. In this edition of DoubleLine’s Round Table Prime, moderator and deputy chief investment officer Jeffrey Sherman, U.S. government bond portfolio manager Greg Whiteley and global bond portfolio manager Bill Campbell
- [Round Table: Geopolitical Risk](https://doubleline.com/markets-insights/round-table-geopolitical-risk/): The world today is challenging parts of a status quo that have stood since the end of World War II in 1945 and the fall of the Soviet Union at the end of 1991. In this edition of DoubleLine Round Table, Deputy Chief Investment Officer Jeffrey Sherman moderates a discussion with Global Bond Portfolio Managers
- [DoubleLine Round Table Prime: Best Ideas](https://doubleline.com/markets-insights/doubleline-round-table-prime-best-ideas/): In the Best Ideas segment of Round Table Prime, moderator Jeffrey Sherman and panelists James Bianco, Danielle DiMartino Booth, Jeffrey Gundlach, Ed Hyman and David Rosenberg share some of their favorite investment ideas for 2022. Skip Intro (3:14). This episode of Round Table Prime was recorded Jan. 4, 2022. James Bianco is President and Macro
- [DoubleLine Round Table Prime: Market Outlook](https://doubleline.com/markets-insights/doubleline-round-table-prime-market-outlook/): Round Table Prime: Tour d’Horizon of Global Markets and Asset Classes In this Markets segment of DoubleLine’s Round Table Prime, moderator Jeffrey Sherman and panelists James Bianco, Danielle DiMartino Booth, Jeffrey Gundlach, Ed Hyman and David Rosenberg discuss equity, bonds, currencies, and commodities, among other asset classes. This edition of Round Table Prime was recorded
- [DoubleLine Round Table Prime: Global Macroeconomy](https://doubleline.com/markets-insights/doubleline-round-table-prime-global-macroeconomy/): Round Table Prime: Tour d’Horizon of Global Markets and Asset Classes In this Markets segment of DoubleLine’s Round Table Prime, moderator Jeffrey Sherman and panelists James Bianco, Danielle DiMartino Booth, Jeffrey Gundlach, Ed Hyman and David Rosenberg discuss equity, bonds, currencies and commodities, among other asset classes. This edition of Round Table Prime was recorded
- [Round Table Digital Currencies - Part 1](https://doubleline.com/markets-insights/round-table-digital-currencies-part-1/): Round Table Prime: Digital Currencies: A New Financial Order But Which Financial Order – and Whose? In “Digital Currencies: A New Financial Order,” DoubleLine Deputy Chief Investment Officer Jeffrey Sherman moderates a discussion with James Bianco, President of Bianco Research, and DoubleLine Global Bond Portfolio Manager Bill Campbell on digital currencies which hold transformational benefits
- [Round Table Digital Currencies - Part 2](https://doubleline.com/markets-insights/round-table-digital-currencies-part-2/): Round Table Prime: Digital Currencies: A New Financial Order But Which Financial Order – and Whose? In “Digital Currencies: A New Financial Order,” DoubleLine Deputy Chief Investment Officer Jeffrey Sherman moderates a discussion with James Bianco, President of Bianco Research, and DoubleLine Global Bond Portfolio Manager Bill Campbell on digital currencies which hold transformational benefits
- [Round Table Segment 2, Financial Markets Outlook - Part 1](https://doubleline.com/markets-insights/round-table-segment-2-financial-markets-outlook-part-1/): (to skip intros, please forward to 4:00 min) DoubleLine Capital’s Jeffrey Gundlach and his special guests discuss their “Financial Markets Outlook” in this segment of the second annual edition of Round Table Prime, recorded Jan. 5, 2021. Joining Mr. Gundlach are Danielle DiMartino Booth, CEO and chief strategist of Quill Intelligence; James Bianco, president and
- [Round Table Segment 1, Global Macroeconomy - Part 1](https://doubleline.com/markets-insights/round-table-segment-1-global-macroeconomy-part-1/): (to skip intros, please forward to 4:00 min) DoubleLine Capital’s Jeffrey Gundlach and his special guests hold the second annual edition of Round Table Prime, recorded Jan. 5, 2021. Joining Mr. Gundlach are Danielle DiMartino Booth, CEO and chief strategist of Quill Intelligence; James Bianco, president and macro strategist of Bianco Research; Edward Hyman, chairman
- [Round Table Segment 2, Financial Markets Outlook - Part 2](https://doubleline.com/markets-insights/round-table-segment-2-financial-markets-outlook-part-2/): (to skip intros, please forward to 4:00 min) DoubleLine Capital’s Jeffrey Gundlach and his special guests discuss their “Financial Markets Outlook” in this segment of the second annual edition of Round Table Prime, recorded Jan. 5, 2021. Joining Mr. Gundlach are Danielle DiMartino Booth, CEO and chief strategist of Quill Intelligence; James Bianco, president and
- [Global Bond Team, Process, Strategy, Market 3-1-2018](https://doubleline.com/markets-insights/global-bond-team-process-strategy-market-3-1-2018/): • This material contains the opinions of the manager as of the date it was recorded and such opinions are subject to change without notice. • The material represents DoubleLine’s intellectual property. No portion of this presentation may be published, reproduced, transmitted, or rebroadcast in any media in any form without the express written permission
- [Low Duration Strategy: Team, Process, Philosophy & Difference](https://doubleline.com/markets-insights/low-duration-strategy-team-process-philosophy-difference-5-22-18/): • This material contains the opinions of the manager as of the date it was recorded and such opinions are subject to change without notice. • The material represents DoubleLine’s intellectual property. No portion of this presentation may be published, reproduced, transmitted, or rebroadcast in any media in any form without the express written permission
- [Multi-Asset Growth Strategy: Philosophy, Process & Approach](https://doubleline.com/markets-insights/multi-asset-growth-strategy-philosophy-process-approach-5-15-18/): • This material contains the opinions of the manager as of the date it was recorded and such opinions are subject to change without notice. • The material represents DoubleLine’s intellectual property. No portion of this presentation may be published, reproduced, transmitted, or rebroadcast in any media in any form without the express written permission
- [International Fixed Income: Global Bond Strategy](https://doubleline.com/markets-insights/international-fixed-income-global-bond-strategy-nov-2021/): International Fixed Income - Global Bond Overview. Why should investors consider the DoubleLine Strategy? 00:00 - Introduction, Bill Campbell01:46 - Investment Rationale, Valerie Ho03:31 - What are the Pillars of the Investment Process, Bill Campbell04:28 - Describe the Macro Research Process, Valerie Ho05:27 - Describe the Sovereign Research Process, Nick Engler06:28 - Portfolio Construction, Valerie
- [Campbell on QE: Welcome to the Hotel California](https://doubleline.com/markets-insights/qe-welcome-to-the-hotel-california-bill-campbell-dec-2018/): In their iconic song, “Hotel California,” the Eagles sum up the trap of living to excess with the paradoxical finish: “You can check out any time you like, but you can never leave.” That couplet captures the dilemma facing the G4 central banks. The Federal Reserve (Fed), Bank of England (BOE), European Central Bank (ECB)

## Funds Insights

- [Low Duration Bond Fund - Quarterly Fund Review](https://doubleline.com/funds-insights/low-duration-bond-fund-qfr/): The first quarter of 2026 was defined by a sharp increase in geopolitical risk and evolving concerns around structural shifts in technology. Military actions involving the United States in Venezuela and Iran, including a large-scale operation launched with Israel on February 28, injected significant uncertainty into global markets. The resulting disruption to energy flows through
- [DoubleLine Exchange-Traded Funds Investment Offerings](https://doubleline.com/funds-insights/doubleline-etf-investment-offerings/): Download to view DoubleLine’s ETF Offerings including current expense ratios.
- [Barron's: Jeffrey Sherman on Bond Investing Amid Market Excesses](https://doubleline.com/funds-insights/barrons-jeffrey-sherman-on-bond-investing-amid-market-excesses/): In an interview with Barron's published July 1, 2026, Jeffrey Sherman charts a cautious course for fixed income portfolios through a time of economic boom and optimistic corporate underwriting amid building sovereign fiscal imbalances, untamed headline hazards and AI overinvestment risk. DoubleLine, he tells the magazine, is steering prudent passage by seeking yield in a
- [Closer Look at the DoubleLine Mortgage ETF](https://doubleline.com/funds-insights/closer-look-at-dmbs/): This actively managed ETF primarily invests in Agency and non-Agency residential mortgage-backed securities and seeks to outperform the Bloomberg US MBS Index. Interest rate, credit and prepayment risks are managed with the goal of providing enhanced risk-adjusted returns through various interest rate and economic environments.
- [A Closer Look at the Opportunistic Core Bond ETF](https://doubleline.com/funds-insights/a-closer-look-at-the-opportunistic-core-bond-etf/): The DoubleLine Opportunistic Core Bond ETF seeks to maximize total return over a full market cycle by actively investing across global fixed income sectors. Active management is the centerpiece of DoubleLine’s investment philosophy, as the investment team seeks to deliver strong risk-adjusted returns by using a time-tested process that has successfully navigated numerous market and
- [Quarterly Look Under the Hood: DoubleLine Total Return Bond Update](https://doubleline.com/funds-insights/quarterly-look-under-the-hood-doubleline-total-return-bond-update/): DoubleLine Portfolio Manager Ken Shinoda provides a quarterly update on the DoubleLine Total Return Bond Fund, walking through performance and positioning. Longer duration assets like Treasuries have struggled this year while shorter duration and floating rate securities have outperformed, reflecting the fund's underweight to the long end and continued conviction that fiscal pressure will keep
- [DoubleLine Multi-Sector Income ETF (DMX)](https://doubleline.com/funds-insights/doubleline-multi-sector-income-etf-dmx/): Robert Cohen, DoubleLine Director of Corporate Credit, begins with an in-depth review of the DoubleLine Multi-Sector Income ETF (DMX), highlighting its differentiated allocation approach across corporate and securitized credit sectors, with a goal of generating a high level of income while maintaining a low-duration posture. Mr. Cohen emphasizes the Fund’s active management mandate and its
- [Closer Look at the DoubleLine Commercial Real Estate Debt ETF](https://doubleline.com/funds-insights/closer-look-at-dcre/): This actively managed ETF primarily invests in senior commercial mortgage-related securities while maintaining a low level of interest rate risk. Through rigorous scenario and credit analyses, DCRE’s investment team seeks to add value through security selection by focusing on mortgage structures and collateral types that they believe are key to generating attractive income with principal
- [DoubleLine Investment Offerings](https://doubleline.com/funds-insights/doubleline-investment-offerings/): Download to view DoubleLine’s Mutual Fund, Closed-End Fund and ETF Offerings including available share classes and current expense ratios.
- [DoubleLine Quarterly Fund Commentary](https://doubleline.com/funds-insights/doubleline-quarterly-fund-commentary/): Each quarter, DoubleLine’s Fund Commentary delivers a structured view of market conditions alongside detailed, fund‑level insight. The report opens with a concise market overview to frame the macroeconomic backdrop, then moves systematically through each mutual fund to include a dedicated written attribution paragraph. These fund‑level discussions explain performance drivers, positioning decisions and risk considerations for the
- [Developed market fiscal strain sparks pivot to EM local debt](https://doubleline.com/funds-insights/developed-market-fiscal-strain-sparks-pivot-to-em-local-debt/): Bill Campbell, DoubleLine's head of Global Sovereign & Emerging Markets, argues that developed markets have lost the institutional immunities—fiscal credibility, central bank independence, and low inflation—that once shielded them from the term premium long demanded of emerging markets. As heavy government spending and geopolitical stress erode policy credibility in the West, Campbell sees a multi-year
- [Chairman Warsh Swiftly Puts His Stamp on the Fed](https://doubleline.com/funds-insights/chairman-warsh-swiftly-puts-his-stamp-on-the-fed/): Bill Campbell, head of the firm’s Global Sovereign & Emerging Markets (GSEM) team, surveys Federal Reserve Chairman Kevin Warsh’s fast-moving overhaul of the central bank, a reorganization ultimately aimed at “a new policy-setting regime rooted more in a reaction to hard data and market outcomes than in econometric models and dogma.” Looking to the near
- [Honebuto Shock: Japan Courts a Truss-Like Redux](https://doubleline.com/funds-insights/honebuto-shock-japan-courts-a-truss-like-redux/): Sell-offs in Japanese Government Bonds (JGBs) and the yen have put Japanese Prime Minister Sanae Takaichi on notice, a DoubleLine paper argues, that Japan’s creditors have little tolerance for her government’s unorthodox proposal for a mixture of unfunded fiscal expansion with docile central-banking. Surveying the “Honebuto shock,” so-named after debt-and-yen sell-off following Tokyo’s annual fiscal policy
- [DoubleLine Opportunistic Core Bond ETF - Quarterly Fund Review](https://doubleline.com/funds-insights/doubleline-opportunistic-core-bond-etf-quarterly-fund-review/): The first quarter of 2026 was defined by a sharp increase in geopolitical risk and evolving concerns around structural shifts in technology. Military actions involving the United States in Venezuela and Iran, including a large-scale operation launched with Israel on February 28, injected significant uncertainty into global markets. The resulting disruption to energy flows through
- [Core Fixed Income Fund - Quarterly Fund Review](https://doubleline.com/funds-insights/core-fixed-income-fund-qfr/): The first quarter of 2026 was defined by a sharp increase in geopolitical risk and evolving concerns around structural shifts in technology. Military actions involving the United States in Venezuela and Iran, including a large-scale operation launched with Israel on February 28, injected significant uncertainty into global markets. The resulting disruption to energy flows through
- [Flexible Income Fund - Quarterly Fund Review](https://doubleline.com/funds-insights/flexible-income-fund-qfr/): The first quarter of 2026 was defined by a sharp increase in geopolitical risk and evolving concerns around structural shifts in technology. Military actions involving the United States in Venezuela and Iran, including a large-scale operation launched with Israel on February 28, injected significant uncertainty into global markets. The resulting disruption to energy flows through
- [Total Return Bond Fund - Quarterly Fund Review](https://doubleline.com/funds-insights/total-return-bond-fund-qfr/): The first quarter of 2026 was defined by a sharp increase in geopolitical risk and evolving concerns around structural shifts in technology. Military actions involving the United States in Venezuela and Iran, including a large-scale operation launched with Israel on February 28, injected significant uncertainty into global markets. The resulting disruption to energy flows through
- [Closed-End Fund Webcast](https://doubleline.com/funds-insights/closed-end-fund-webcast-3/): DoubleLine Deputy CIO Jeffrey Sherman hosts the firm’s annual Closed End Funds webcast, opening with a macroeconomic and rates overview before diving into positioning and performance for DoubleLine’s three closed-end funds – Opportunistic Credit Fund (DBL), Yield Opportunities Fund (DLY) and Income Solutions Fund (DSL). On rates, Mr. Sherman walks through a historic shift in
- [Morris Chen on CRE Stability and Data Center Restraint | Bloomberg ETF IQ](https://doubleline.com/funds-insights/cre-stability-and-data-center-restraint-morris-chen-on-bbg-etf-iq/): DoubleLine Portfolio Manager Morris Chen joins Bloomberg’s ETF IQ to discuss DCRE, DoubleLine’s active investment-grade commercial mortgage-backed securities (CMBS) ETF. With nearly a half billion in assets, DCRE has outperformed both the Bloomberg US Aggregate Bond Index and the iShares CMBS ETF beta product since inception with notably lower volatility. Mr. Chen attributes the fund’s
- [All Eyes on the Horizon: DoubleLine Total Return Bond Update](https://doubleline.com/funds-insights/all-eyes-on-the-horizon-doubleline-total-return-bond-update/): In this quarterly portfolio update, DoubleLine Portfolio Manager Andrew Hsu reviews the DoubleLine Total Return Bond Fund’s performance through April 30, 2026. Mr. Hsu discusses the Fund’s positive year-to-date return and outperformance versus the Bloomberg US Aggregate Bond Index. The Fund’s performance has been driven by securitized credit exposure across non-Agency mortgages, CMBS, RMBS and
- [DoubleLine Commercial Real Estate Debt ETF: Outperformance Measured and Explained](https://doubleline.com/funds-insights/doubleline-commercial-real-estate-debt-etf-outperformance-measured-and-explained/): The DoubleLine Commercial Real Estate Debt ETF (DCRE), an actively managed exchange-traded fund invested in high-quality commercial mortgage-backed securities (CMBS), has delivered excess return with less volatility and a smaller maximum drawdown than its benchmark, the Bloomberg US Aggregate Bond 1-3 Year Index, and supplemental corporate and CMBS indices for the three years ended March
- [DoubleLine Securitized Credit ETF Overview](https://doubleline.com/funds-insights/securitized-credit-etf-overview/): The DoubleLine Securitized Credit ETF (the “Fund”) was launched on Sept. 3, 2019, focused predominantly on securitized credit products with the goal of generating high current income and total return.The DoubleLine investment team manages $52 billion of securitized products and has an average of 23 years of industry experience as of March 31, 2026. DoubleLine’s
- [Beyond Cash: Reallocating for Income in a Shifting Rate Cycle](https://doubleline.com/funds-insights/beyond-cash-reallocating-for-income-in-a-shifting-rate-cycle/): As the Federal Reserve continues its easing cycle, elevated cash allocations face growing opportunity cost and reinvestment risk. What once offered attractive yield with minimal volatility may increasingly constrain portfolio income and efficiency. This paper examines the cyclical nature of cash returns and the case for thoughtfully extending into high-quality, short-duration fixed income. Through its
- [DoubleLine Active Fixed-Income ETFs for Times of Secular and Cyclical Change](https://doubleline.com/funds-insights/doubleline-active-fixed-income-etfs-for-times-of-secular-and-cyclical-change/): Active managers in fixed income, as reported in the S&P Global SPIVA Scorecard, have a superior track record in outperforming markets versus their counterparts in active equities investment. “An edge in fixed income,” DoubleLine Deputy Chief Investment Officer Jeffrey Sherman writes, “has rarely been more critical than today.” In addition to risks and opportunities unfolding
- [The Case for DoubleLine Commercial Real Estate Debt ETF](https://doubleline.com/funds-insights/the-case-for-dcre/): CMBS provide exposure to CRE without direct investment in properties and are designed to allow investors to customize risk and return by choosing where in the capital structure to invest.
- [Morris Chen on the DoubleLine Commercial Real Estate Debt ETF](https://doubleline.com/funds-insights/morris-chen-on-the-doubleline-dcre-etf/): In an excerpt from Orion's The Weighing Machine Podcast, recorded Mar.8, DoubleLine Portfolio Morris Chen discusses the DoubleLine Commercial Real Estate ETF (ticker DCRE) emphasizing its active management strategy and focus on Commercial Mortgage-Backed Securities (CMBS). DCRE aims to provide exposure to the commercial real estate market with attractive yields. Chen highlighted the importance of
- [Opportunities in Commercial Real Estate with DCRE](https://doubleline.com/funds-insights/opportunities-in-commercial-real-estate-with-dcre/): In a webcast presented by Portfolio Manager Morris Chen for the DoubleLine Commercial Real Estate ETF (ticker: DCRE), filmed on February 11, 2025, Chen shares insights on the current state of the commercial real estate debt market, investment strategies, and the benefits of including commercial mortgage-backed securities (CMBS) in investment portfolios. He highlights the normalization
- [Shifting Tides Present Opportunities for Commercial Real Estate Investors](https://doubleline.com/funds-insights/shifting-tides-dcre-may2024/): Despite headlines highlighting risks to commercial real estate (CRE) fundamentals, the non-Agency commercial mortgage-backed securities (CMBS) market has outperformed many other fixed-income sectors to start the year. That said, uncertainty remains, and the dispersion of potential outcomes across property types and bond structures allows the opportunity for active management to generate attractive risk-adjusted returns across
- [ETF Central: "DoubleLine Commercial Real Estate ETF (DCRE) Marks One-Year Anniversary on NYSE ARCA”](https://doubleline.com/funds-insights/etf-central-doubleline-dcre-one-year-anniv-on-nyse-arca/): ETF Central’s lead ETF analyst reports on the investment strategy and one-year anniversary performance of the DoubleLine Commercial Real Estate ETF. The report notes DCRE stands out as the sole ETF devoted to investment in commercial real estate debt via active management. Morris Chen, lead portfolio manager of the fund and head of the Commercial
- [Commercial Real Estate Debt Debt ETF (DCRE) Overview](https://doubleline.com/funds-insights/commercial-real-estate-etf-dcre-overview/): This actively managed ETF primarily invests in senior commercial mortgage-related securities while maintaining a low level of interest rate risk. Through rigorous scenario and credit analyses, DCRE's investment team seeks to add value through security selection by focusing on mortgage structures and collateral types that they believe are key to generating attractive income with principal
- [DoubleLine Commercial Real Estate Debt ETF Overview - April 2023](https://doubleline.com/funds-insights/dl-dcmb-overview-april-2023/): DoubleLine Commercial Real Estate ETF portfolio managers, Morris Chen, Robert Stanbrook and Mark Cho introduce us to the Fund along with sharing DoubleLine's Investment process. April 2023.
- [Opportunities in Mortgages: Residential and Commercial ETF Webcast](https://doubleline.com/funds-insights/opportunities-in-mortgages-residential-and-commercial-etf-webcast/): In this webcast replay from February 11, DoubleLine Portfolio Manager Ken Shinoda shared insights on the current state of the mortgage-backed securities market, discussed DoubleLine's Mortgage ETF current positioning, and why investors should consider mortgage-backed securities for their investment portfolios overall. Portfolio Manager Morris Chen shared insights on the current state of the commercial real
- [Morris Chen on Unlocking CMBS with DCRE](https://doubleline.com/funds-insights/morris-chen-on-unlocking-cmbs-with-dcre/): Morris Chen, leader of DoubleLine’s Commercial Mortgage-Backed Securities/Commercial Real Estate Debt team, on Feb. 20, 2025, joins Bloomberg Television’s Katie Greifeld and Vonnie Quinn to discuss the state of commercial real estate, opportunities in CRE debt investing and his team’s preferred property types. Regarding the latter, Mr. Chen, who also is portfolio manager of DoubleLine
- [Key Trends for Asset-Backed Investing](https://doubleline.com/funds-insights/key-trends-for-asset-backed-investing/): Asset-backed securities give investors access to high cashflow investments secured by the real economy. These investments, both consumer and hard-asset securitizations, can limit the risks associated with interest rate volatility while providing the potential for higher yield and total return compared to similarly rated corporate bonds. The DoubleLine Asset-Backed Securities ETF (DABS) is built to
- [Diversified Fixed Income Webcast](https://doubleline.com/funds-insights/diversified-fixed-income-webcast-crossroads/): Labor at the Crossroads: What It Means for Fixed Income DoubleLine Deputy Chief Investment Officer Jeffrey Sherman explores the forces shaping today’s fixed income landscape and examines the evolving U.S. economic backdrop—where labor market dynamics, consumer resilience, and fiscal policy intersect to define the path forward for growth, inflation, and interest rates. Amid ongoing debates
- [A Smarter 60-40: The Potential Benefits of DBLTX and Real Diversification](https://doubleline.com/funds-insights/a-smarter-60-40-the-potential-benefits-of-dbltx/): The traditional 60-40 stock-bond portfolio can lose diversification when corporate bonds comprise much of the fixed income side, as their credit risk is often correlated with equity markets. "A Smarter 60-40" explores how the DoubleLine Total Return Bond Fund (DBLTX) enhances diversification by focusing on securitized credit over corporate bonds. When paired with equities, this
- [DoubleLine Shiller CAPE U.S. Equities ETF (CAPE) Overview](https://doubleline.com/funds-insights/doubleline-shiller-cape-u-s-equities-etf-cape-overview/): DoubleLine Shiller CAPE U.S. Equities ETF applies a disciplined, research-based approach to U.S. large-cap equity investing, grounded in the cyclically adjusted price-to-earnings (CAPE) ratio developed by Nobel Laureate Dr. Robert Shiller. By evaluating each sector’s valuation relative to its long-term historical average, the strategy identifies the most attractively priced sectors and systematically rotates into them.
- [Jeffrey Sherman on DBND | Bloomberg ETF IQ](https://doubleline.com/funds-insights/jeffrey-sherman-on-dbnd-bloomberg-etf-iq-2/): DoubleLine Deputy CIO Jeffrey Sherman joins Bloomberg’s ETF IQ on July 21 to discuss the strategy and performance behind the DoubleLine Opportunistic Core Bond ETF (DBND). Since its 2022 launch, DBND has grown to nearly $500 million in assets, offering investors a diversified, actively managed fixed-income portfolio with a notable tilt toward mortgage-backed securities. Mr.
- [DoubleLine Asset-Backed Securities ETF (DABS) Overview](https://doubleline.com/funds-insights/doubleline-asset-backed-securities-etf-dabs-overview/): The DoubleLine Asset-Backed Securities ETF (DABS) is a fixed income ETF that focuses exclusively on the asset-backed securities (ABS) market, including financial assets like auto loans and student loans as well as tangible assets such as power plants and data centers. Portfolio Managers Andrew Hsu and Fifi Wong highlight that DABS provides pure-play exposure to
- [State of the U.S. Consumer and Asset-Backed Securities](https://doubleline.com/funds-insights/state-of-the-us-consumer-and-abs/): Macroeconomic data and high frequency asset-backed securities (ABS) data analyzed in September 2024 by DoubleLine Portfolio Manager Andrew Hsu and ABS Trader Michael Fine show a persistently resilient U.S. consumer. In “The State of the U.S. Consumer Through the Lens of Asset-Backed Securities,” Messrs. Hsu and Fine attribute the consumer’s resilience to “the strength of
- [DoubleLine Asset-Backed Securities ETF (DABS) Webcast](https://doubleline.com/funds-insights/doubleline-asset-backed-securities-etf-dabs/): Portfolio Managers Andrew Hsu and FiFi Wong discuss one of DoubleLine's newest offerings: The DoubleLine Asset-Backed Securities ETF (ticker: DABS).
- [Andrew Hsu on The Untapped Power of ABS in a Modern Portfolio](https://doubleline.com/funds-insights/andrew-hsu-on-the-untapped-power-of-abs-in-a-modern-portfolio/): In this episode of Advisorpedia’s Power Your Advice, DoubleLine’s Andrew Hsu joins host Doug Heikkinen to discuss the launch of the first actively managed ETF dedicated entirely to asset-backed securities (ABS), DoubleLine’s DABS. Mr. Hsu explains why ABS – long favored by institutional investors for their low correlation to the broad fixed income market, healthy
- [Equity Alternatives Webcast Titled: Equity Investing in an Uncertain World](https://doubleline.com/funds-insights/equity-investing-in-an-uncertain-world-webcast/): DoubleLine Portfolio Manager Jeff Mayberry explores the current state of equity markets amid ongoing global uncertainty, particularly surrounding U.S. trade policy and tariffs. With global trade tensions, Federal Reserve policy questions and elevated valuations, Mr. Mayberry explains why traditional market-cap strategies might be riskier than they appear. He highlights how sector concentration – especially in
- [Asset-Backed Securities for Enhanced Return-To-Risk Potential](https://doubleline.com/funds-insights/abs-for-enhanced-return-to-risk-potential/): In a recent research paper, members of the DoubleLine asset-backed securities (ABS) team write that “(i)ncorporating ABS into a fixed income portfolio can add diversification and enhance the return-to-risk profile.” Along with an attractive yield profile, the authors note that among fixed income sectors, ABS exhibits one of the lowest correlations to the investment grade
- [DoubleLine Multi-Sector Income ETF (DMX) Overview](https://doubleline.com/funds-insights/dmx-etf-overview-robert-cohen/): The DoubleLine Multi-Sector Income ETF (DMX) employs a multi-sector strategy that allocates across both securitized income and corporate credit markets, including investment grade credit, high yield credit, bank loans and various securitized asset sectors such as non-Agency residential mortgage-backed securities and collateralized loan obligations. The strategy aims to generate high income with low volatility, making
- [Opportunities in Mortgages with DMBS](https://doubleline.com/funds-insights/opportunities-in-mortgages-with-dmbs/): In a webcast presented by Portfolio Manager Ken Shinoda for the DoubleLine Mortgage-Backed Securities ETF (ticker: DMBS), filmed on February 11, 2025, Shinoda shares insights on the current state of the mortgage-backed securities market, investment strategies, and the benefits of including MBS in investment portfolios. He highlights the attractive valuations of MBS, the different types
- [DoubleLine Fortune 500 Equal Weight ETF (DFVE) Overview](https://doubleline.com/funds-insights/fortune-500-equal-weight-etf/): Jeffrey Sherman, Deputy Chief Investment Officer at DoubleLine Capital, discusses the DoubleLine Fortune 500 Equal Weight ETF (DFVE). The Fortune 500 is an annual list published by Fortune since 1955, ranking the top 500 companies domiciled in the U.S. based on revenue. DFVE has an investable universe of 450 individual stocks, about 120 of which
- [Diversified Fixed Income Webcast: "Reckless or Wreck Less? Implications of Tariff Policies on Fixed Income Portfolios"](https://doubleline.com/funds-insights/diversified-fixed-income-webcast-3/): DoubleLine's Deputy Chief Investment Officer Jeffrey Sherman, CFA discusses the economy and markets with a focus on how DoubleLine's multi-sector bond funds can be an important part of an investor's portfolio. 00:00 - Introduction and Housekeeping 01:30 - Fund Performance Highlights 02:41 - Macroeconomic Update 35:00 - Fixed Income Market Update 46:40 - Low
- [Mortgage ETF (DMBS) Overview](https://doubleline.com/funds-insights/mortgage-etf-dmbs-overview/): This actively managed ETF primarily invests in Agency and non-Agency residential mortgage-backed securities and seeks to outperform the Bloomberg US MBS Index. Interest rate, credit and prepayment risks are managed with the goal of providing enhanced risk-adjusted returns through various interest rate and economic environments. Filmed April, 2023. Link to the DoubleLine Mortgage ETF prospectus.
- [Jeffrey Sherman Discusses DFVE on Bloomberg Television](https://doubleline.com/funds-insights/jeffrey-sherman-discusses-dfve-on-bloomberg-television/): On Bloomberg Television’s “Open Interest,” DoubleLine Deputy Chief Investment Officer Jeffrey Sherman on Dec. 13, 2024, discusses (0:02) the DoubleLine Fortune 500 Equal Weight ETF (DFVE), equal-weight versus market-cap investing and the heavy exposure of the S&P 500 to a small number of mega-cap tech stocks at historically high price-to-earnings ratios. Mr. Sherman also details the construction (2:25) of the Barclays Fortune 500 Equal Weighted Total Return Index, which DFVE implements. Importantly, he notes that the index selects securities of approximately 460 companies on an objective, rules-based methodology based on revenue. This distinguishes its components from the S&P 500, whose components are selected by a committee. Founded 15 years ago, DoubleLine, Mr. Sherman notes (4:23), has a 10-year history managing equity strategies.
- [Perspectives: New Frontier for ABS - Financing Mission-Critical Data Centers](https://doubleline.com/funds-insights/perspectives-new-frontier-for-abs-financing-mission-critical-data-centers/): Stephan Diaz Ellinghaus, a Specialist in Structured Products on DoubleLine’s Asset-Backed Securities (ABS)/Infrastructure team, discusses (0:02) his outlook for ABS backed by data centers. The supply of data centers, Mr. Diaz Ellinghaus tells DoubleLine Client Portfolio Manager Phil Gioia, CFA, is being outstripped by demand for digital storage, processing and transmission capacity to drive traditional
- [The Case for Diversified Credit Exposure](https://doubleline.com/funds-insights/the-case-for-diversified-credit-exposure/): There is a compelling case for adding credit in client portfolios as both a complement to traditional core bonds and as a competitive investment to equities given current valuations. We believe an active and diversified approach to credit offers the most opportunities for investors and has the potential to generate better risk-adjusted returns than passive and
- [Accessing Infrastructure Debt with DoubleLine](https://doubleline.com/funds-insights/accessing-infrastructure-debt-with-doubleline/): Infrastructure debt may offer stable, long-term returns with defensive characteristics and has a demonstrated track record of resilience during recessions and economic downturns, making it an attractive option for investors. The sector offers broad diversification with investment opportunities in energy transition, renewable energy generation and digital infrastructure, among others, driven by global trends toward cleaner
- [Residential Mortgages as Portfolio Building Blocks](https://doubleline.com/funds-insights/residential-mortgages-as-portfolio-building-blocks/): Residential mortgages can provide fixed income investors with the opportunity for higher yields and better risk-adjusted returns than other parts of the fixed income market. DoubleLine portfolio managers layer on an active approach that can exploit the inefficiencies within the MBS market. This approach allows for investments with stronger potential returns per unit of risk.
- [DoubleLine Fixed Income Asset Allocation Outlook 2024](https://doubleline.com/funds-insights/doubleline-fixed-income-asset-allocation-outlook-2024-mf/): For investors, 2023 was a year of yield, as much of the total returns across the fixed income universe were attributable to interest income. Looking ahead, 2024 has a similar market setup to where we began 2023, attractive all-in yields enabling portfolios to potentially generate positive returns across a variety of economic outcomes. In DoubleLine’s
- [The Case for Commodities and the Strategic Commodity Fund](https://doubleline.com/funds-insights/the-case-for-commodities-and-the-strategic-commodity-fund/): Presented by DoubleLine's portfolio manager, Sam Lau and Graham Hopper, Relationship Manager for Family Offices and RIAs in the Western U.S.
- [DoubleLine - Why Invest in Commodities Now?](https://doubleline.com/funds-insights/doubleline-why-invest-in-commodities-now/): DoubleLine portfolio managers, Sam Lau and Jeffrey Mayberry talk Strategic Commodities. 1:23 - Benefits to Investing in Commodities 2:40 - DoubleLine Strategic Commodity: Strategic Advantage May 2022

## Documents

- [DSL 19a-1 Notice](https://doubleline.com/document/dsl-19a-1-notice/)
- [DBL 19a-1 Notice](https://doubleline.com/document/dbl-19a-1-notice/)
- [Commercial Real Estate Debt ETF Cash Flow](https://doubleline.com/document/dcre-etf-cash-flows/)
- [Ultrashort Income ETF Cash Flow](https://doubleline.com/document/dlux-etf-cash-flows/)
- [Asset-Backed Securities ETF Cash Flow](https://doubleline.com/document/dabs-etf-cash-flows/)
- [DoubleLine Strategic Commodity Fund Fact Sheet](https://doubleline.com/document/doubleline-strategic-commodity-fund-fact-sheet/)
- [DoubleLine Fortune 500 Equal Weight ETF Fact Sheet](https://doubleline.com/document/doubleline-fortune-500-equal-weight-etf-fact-sheet/)
- [DoubleLine Total Return Bond Fund Fact Sheet](https://doubleline.com/document/doubleline-total-return-bond-fund-fact-sheet/)
- [DoubleLine Shiller Enhanced CAPE® Fact Sheet](https://doubleline.com/document/doubleline-shiller-enhanced-cape-fact-sheet-2/)
- [DoubleLine Shiller CAPE U.S. Equities ETF Fact Sheet](https://doubleline.com/document/doubleline-shiller-cape-u-s-equities-etf-fact-sheet/)
- [DoubleLine Opportunistic Core Bond ETF Fact Sheet](https://doubleline.com/document/doubleline-opportunistic-bond-etf-fact-sheet/)
- [DoubleLine Asset-Backed Securities ETF Fact Sheet](https://doubleline.com/document/doubleline-asset-backed-securities-etf-fact-sheet/)
- [DoubleLine Securitized Credit ETF Fact Sheet](https://doubleline.com/document/doubleline-securitized-credit-etf-fact-sheet/)
- [DoubleLine Ultrashort Income ETF Fact Sheet](https://doubleline.com/document/copy-of-doubleline-securitized-credit-etf-fact-sheet/)
- [DoubleLine Commercial Real Estate Debt ETF Fact Sheet](https://doubleline.com/document/doubleline-commercial-real-estate-debt-etf-fact-sheet/)
- [DoubleLine Mortgage ETF Fact Sheet](https://doubleline.com/document/doubleline-mortgage-etf-fact-sheet/)
- [DoubleLine Core Fixed Income Fund Fact Sheet](https://doubleline.com/document/doubleline-core-fixed-income-fund-fact-sheet/)
- [DoubleLine Multi-Sector Income ETF Fact Sheet](https://doubleline.com/document/doubleline-multi-sector-income-etf-fact-sheet/)
- [DoubleLine Commodity Strategy ETF Fact Sheet](https://doubleline.com/document/doubleline-commodity-strategy-etf-fact-sheet/)
- [DoubleLine Emerging Markets Local Currency Bond Fund Fact Sheet](https://doubleline.com/document/doubleline-emerging-markets-local-currency-bond-fund-fact-sheet/)
- [DoubleLine Income Solutions Fund Fact Sheet](https://doubleline.com/document/doubleline-income-solutions-fund-fact-sheet/)
- [DoubleLine Opportunistic Credit Fund Fact Sheet](https://doubleline.com/document/doubleline-opportunistic-credit-fund-fact-sheet/)
- [DoubleLine Emerging Markets Fixed Income Fund Fact Sheet](https://doubleline.com/document/doubleline-emerging-markets-fixed-income-fund-fact-sheet/)
- [DoubleLine Low Duration Emerging Markets Fixed Income Fund Fact Sheet](https://doubleline.com/document/doubleline-low-duration-emerging-markets-fixed-income-fund-fact-sheet/)
- [DoubleLine Flexible Income Fund Fact Sheet](https://doubleline.com/document/doubleline-flexible-income-fund-fact-sheet/)
- [DoubleLine Global Bond Fund Fact Sheet](https://doubleline.com/document/doubleline-global-bond-fund-fact-sheet/)
- [DoubleLine Long Duration Total Return Bond Fund Fact Sheet](https://doubleline.com/document/doubleline-long-duration-total-return-bond-fund-fact-sheet/)
- [DoubleLine Shiller Enhanced CAPE® International Fact Sheet](https://doubleline.com/document/doubleline-shiller-enhanced-cape-international-fact-sheet/)
- [DoubleLine Yield Opportunities Fund Fact Sheet](https://doubleline.com/document/doubleline-yield-opportunities-fund-fact-sheet/)
- [DoubleLine Low Duration Bond Fund Fact Sheet](https://doubleline.com/document/copy-of-doubleline-low-duration-bond-fund-r6-fact-sheet/)
- [Yield Opportunities Fund (DLY) Prospectus](https://doubleline.com/document/opportunistic-credit-fund-dbl-prospectus/)
- [Yield Opportunities Fund (DLY) Statement of Additional Information (SAI)](https://doubleline.com/document/copy-of-opportunistic-credit-fund-dbl-statement-of-additional-information-sai/)
- [Income Solutions Fund (DSL) Prospectus](https://doubleline.com/document/income-solutions-fund-dsl-prospectus/)
- [Income Solutions Fund (DSL) Statement of Additional Information (SAI)](https://doubleline.com/document/income-solutions-fund-dsl-statement-of-additional-information-sai/)
- [Opportunistic Credit Fund (DBL) Prospectus](https://doubleline.com/document/copy-of-yield-opportunities-fund-dly-prospectus/)
- [Opportunistic Credit Fund (DBL) Statement of Additional Information (SAI)](https://doubleline.com/document/opportunistic-credit-fund-dbl-statement-of-additional-information-sai/)
- [Monthly ETF Dividend Payments and Schedule](https://doubleline.com/document/monthly-etf-dividend-payments-and-schedule/)
- [Monthly Mutual Fund Dividend Payments and Schedule](https://doubleline.com/document/monthly-dividend-payments-and-schedule/)
- [DoubleLine Yield Opportunities Fund (DLY) Declares Distribution](https://doubleline.com/document/doubleline-yield-opportunities-fund-declares-distribution/)
- [DoubleLine Opportunistic Credit Fund (DBL) Declares Distribution](https://doubleline.com/document/doubleline-opportunistic-credit-fund-declares-distribution/)
- [DoubleLine Income Solutions Fund (DSL) Declares Distribution](https://doubleline.com/document/doubleline-income-solutions-fund-declares-distribution/)
- [DoubleLine All Funds Performance Summary](https://doubleline.com/document/doubleline-mutual-funds-performance-summary/)
- [Form 5500 Schedule C Disclosure for DoubleLine Funds Trust](https://doubleline.com/document/form-5500-schedule-c-disclosure-for-doubleline-funds-trust/)
- [Global Bond Fund Summary Prospectus](https://doubleline.com/document/global-bond-fund-summary-prospectus/)
- [Long Duration Total Return Bond Fund Summary Prospectus](https://doubleline.com/document/long-duration-total-return-bond-fund-summary-prospectus/)
- [Yield Opportunities Fund (DLY) N-Port EX Schedule of Holdings](https://doubleline.com/document/yield-opportunities-fund-dly-n-port-ex-schedule-of-holdings-2/)
- [Income Solutions Fund (DSL) N-Port EX Schedule of Holdings](https://doubleline.com/document/income-solutions-fund-dsl-n-port-ex-schedule-of-holdings-2/)
- [Opportunistic Credit Fund (DBL) N-Port EX Schedule of Holdings](https://doubleline.com/document/opportunistic-credit-fund-dbl-n-port-ex-schedule-of-holdings-2/)
- [DoubleLine Exchange-Traded Funds DSCO Statement of Additional Information (SAI)](https://doubleline.com/document/doubleline-exchange-traded-funds-dsco-statement-of-additional-information-sai/)
- [DoubleLine Exchange-Traded Funds Prospectus DSCO](https://doubleline.com/document/doubleline-exchange-traded-funds-prospectus-dsco/)
- [Securitized Credit ETF Summary Prospectus](https://doubleline.com/document/securitized-credit-etf-summary-prospectus/)
- [Total Return Bond Fund Summary Prospectus](https://doubleline.com/document/total-return-bond-fund-summary-prospectus/)
- [Low Duration Bond Fund Summary Prospectus](https://doubleline.com/document/low-duration-bond-fund-summary-prospectus/)
- [Flexible Income Fund Summary Prospectus](https://doubleline.com/document/flexible-income-fund-summary-prospectus/)
- [Shiller Enhanced International CAPE® Summary Prospectus](https://doubleline.com/document/shiller-enhanced-international-cape-summary-prospectus/)
- [Emerging Markets Local Currency Bond Fund Summary Prospectus](https://doubleline.com/document/emerging-markets-local-currency-bond-fund-summary-prospectus/)
- [Emerging Markets Fixed Income Summary Prospectus](https://doubleline.com/document/emerging-markets-fixed-income-summary-prospectus/)
- [Core Fixed Income Fund Summary Prospectus](https://doubleline.com/document/core-fixed-income-fund-summary-prospectus/)
- [Shiller Enhanced CAPE® Summary Prospectus](https://doubleline.com/document/shiller-enhanced-cape-summary-prospectus/)
- [Low Duration Emerging Markets Fixed Income Fund Summary Prospectus](https://doubleline.com/document/low-duration-emerging-markets-fixed-income-fund-summary-prospectus/)
- [Strategic Commodity Fund Summary Prospectus](https://doubleline.com/document/strategic-commodity-fund-summary-prospectus/)
- [DoubleLine Funds Statement of Additional Information (SAI) - DBELX](https://doubleline.com/document/doubleline-funds-statement-of-additional-information-sai-dbelx/)
- [DoubleLine Funds Statement of Additional Information (SAI) - DFLEX](https://doubleline.com/document/doubleline-funds-statement-of-additional-information-sai-dflex/)
- [DoubleLine Funds Statement of Additional Information (SAI) - DBLGX](https://doubleline.com/document/doubleline-funds-statement-of-additional-information-sai-dblgx/)
- [DoubleLine Funds Statement of Additional Information (SAI) - DBLDX](https://doubleline.com/document/doubleline-funds-statement-of-additional-information-sai-dbldx/)
- [DoubleLine Funds Statement of Additional Information (SAI) - DBLSX](https://doubleline.com/document/doubleline-funds-statement-of-additional-information-sai-dblsx/)
- [DoubleLine Funds Statement of Additional Information (SAI) - DBLLX](https://doubleline.com/document/doubleline-funds-statement-of-additional-information-sai-dbllx/)
- [DoubleLine Funds Statement of Additional Information (SAI) - DSEEX](https://doubleline.com/document/doubleline-funds-statement-of-additional-information-sai-dseex/)
- [DoubleLine Funds Statement of Additional Information (SAI) - DSEUX](https://doubleline.com/document/doubleline-funds-statement-of-additional-information-sai-dseux/)
- [DoubleLine Funds Statement of Additional Information (SAI) - DBCMX](https://doubleline.com/document/doubleline-funds-statement-of-additional-information-sai-dbcmx/)
- [DoubleLine Funds Statement of Additional Information (SAI) - DBLTX](https://doubleline.com/document/doubleline-funds-statement-of-additional-information-sai-dbltx/)
- [DoubleLine Funds Statement of Additional Information (SAI) - DBLEX](https://doubleline.com/document/doubleline-funds-statement-of-additional-information-sai-dblex/)
- [DoubleLine Funds Statement of Additional Information (SAI) - DBLFX](https://doubleline.com/document/doubleline-funds-statement-of-additional-information-sai-dblfx/)
- [DoubleLine Funds Statutory Prospectus - DBELX](https://doubleline.com/document/doubleline-funds-statutory-prospectus-dbelx/)
- [DoubleLine Funds Statutory Prospectus - DFLEX](https://doubleline.com/document/doubleline-funds-statutory-prospectus-dflex/)
- [DoubleLine Funds Statutory Prospectus - DBLGX](https://doubleline.com/document/doubleline-funds-statutory-prospectus-dblgx/)
- [DoubleLine Funds Statutory Prospectus - DBLDX](https://doubleline.com/document/doubleline-funds-statutory-prospectus-dbldx/)
- [DoubleLine Funds Statutory Prospectus - DBLSX](https://doubleline.com/document/doubleline-funds-statutory-prospectus-dblsx/)
- [DoubleLine Funds Statutory Prospectus - DBLLX](https://doubleline.com/document/doubleline-funds-statutory-prospectus-dbllx/)
- [DoubleLine Funds Statutory Prospectus - DBMOX](https://doubleline.com/document/doubleline-funds-statutory-prospectus-dbmox/)
- [DoubleLine Funds Statutory Prospectus - DSEEX](https://doubleline.com/document/doubleline-funds-statutory-prospectus-dseex/)
- [DoubleLine Funds Statutory Prospectus - DSEUX](https://doubleline.com/document/doubleline-funds-statutory-prospectus-dseux/)
- [DoubleLine Funds Statutory Prospectus - DBCMX](https://doubleline.com/document/doubleline-funds-statutory-prospectus-dbcmx/)
- [DoubleLine Funds Statutory Prospectus - DBLTX](https://doubleline.com/document/doubleline-funds-statutory-prospectus-dbltx/)
- [DoubleLine Funds Statutory Prospectus - DBLEX](https://doubleline.com/document/doubleline-funds-statutory-prospectus-dblex/)
- [DoubleLine Funds Statutory Prospectus - DBLFX](https://doubleline.com/document/doubleline-funds-statutory-prospectus-dblfx/)
- [DoubleLine Funds Annual Report - DBLFX](https://doubleline.com/document/doubleline-funds-annual-report/)
- [DoubleLine Funds Annual Report - DBELX](https://doubleline.com/document/doubleline-funds-annual-report-dbelx/)
- [DoubleLine Funds Annual Report - DFLEX](https://doubleline.com/document/doubleline-funds-annual-report-dflex/)
- [DoubleLine Funds Annual Report - DBLGX](https://doubleline.com/document/doubleline-funds-annual-report-dblgx/)
- [DoubleLine Funds Annual Report - DBLDX](https://doubleline.com/document/doubleline-funds-annual-report-dbldx/)
- [DoubleLine Funds Annual Report - DBLSX](https://doubleline.com/document/doubleline-funds-annual-report-dblsx/)
- [DoubleLine Funds Annual Report - DBLLX](https://doubleline.com/document/doubleline-funds-annual-report-dbllx/)
- [DoubleLine Funds Annual Report - DBMOX](https://doubleline.com/document/doubleline-funds-annual-report-dbmox/)
- [DoubleLine Funds Annual Report - DSEEX](https://doubleline.com/document/doubleline-funds-annual-report-dseex/)
- [DoubleLine Funds Annual Report - DSEUX](https://doubleline.com/document/doubleline-funds-annual-report-dseux/)
- [DoubleLine Funds Annual Report - DBCMX](https://doubleline.com/document/doubleline-funds-annual-report-dbcmx/)
- [DoubleLine Funds Annual Report - DBLTX](https://doubleline.com/document/doubleline-funds-annual-report-dbltx/)
- [DoubleLine Funds Annual Report - DBLEX](https://doubleline.com/document/doubleline-funds-annual-report-dblex/)
- [DoubleLine ETF Annual Report - DSCO](https://doubleline.com/document/doubleline-etf-annual-report-dsco/)
- [DoubleLine ETF Semi-Annual Report - DBND](https://doubleline.com/document/doubleline-etf-semi-annual-report-dbnd/)
- [DoubleLine ETF Semi-Annual Report - DMX](https://doubleline.com/document/copy-of-doubleline-etf-semi-annual-report-dbnd/)
- [DoubleLine ETF Semi-Annual Report - CAPE](https://doubleline.com/document/doubleline-etf-semi-annual-report-cape/)
- [DoubleLine ETF Semi-Annual Report - DCRE](https://doubleline.com/document/doubleline-etf-semi-annual-report-dcre/)
- [DoubleLine ETF Semi-Annual Report - DMBS](https://doubleline.com/document/doubleline-etf-semi-annual-report-dmbs/)
- [DoubleLine ETF Semi-Annual Report - DCMT](https://doubleline.com/document/doubleline-etf-semi-annual-report-dcmt/)
- [DoubleLine ETF Semi-Annual Report - DFVE](https://doubleline.com/document/doubleline-etf-semi-annual-report-dfve/)
- [DoubleLine ETF Semi-Annual Report - DABS](https://doubleline.com/document/copy-of-doubleline-etf-semi-annual-report-fdve/)
- [Floating Rate Fund - Form 8937 (2026)](https://doubleline.com/document/floating-rate-fund-form-8937-2026/)
- [DoubleLine Funds N-Port EX Schedule of Holdings Part F - DBELX](https://doubleline.com/document/doubleline-funds-n-port-ex-schedule-of-holdings-part-f-dbelx/)
- [DoubleLine Funds N-Port EX Schedule of Holdings Part F - DFLEX](https://doubleline.com/document/doubleline-funds-n-port-ex-schedule-of-holdings-part-f-dflex/)
- [DoubleLine Funds N-Port EX Schedule of Holdings Part F - DBLGX](https://doubleline.com/document/doubleline-funds-n-port-ex-schedule-of-holdings-part-f-dblgx/)
- [DoubleLine Funds N-Port EX Schedule of Holdings Part F - DBLDX](https://doubleline.com/document/doubleline-funds-n-port-ex-schedule-of-holdings-part-f-dbldx/)
- [DoubleLine Funds N-Port EX Schedule of Holdings Part F - DBLSX](https://doubleline.com/document/doubleline-funds-n-port-ex-schedule-of-holdings-part-f-dblsx/)
- [DoubleLine Funds N-Port EX Schedule of Holdings Part F - DBLLX](https://doubleline.com/document/doubleline-funds-n-port-ex-schedule-of-holdings-part-f-dbllx/)
- [DoubleLine Funds N-Port EX Schedule of Holdings Part F - DBMOX](https://doubleline.com/document/doubleline-funds-n-port-ex-schedule-of-holdings-part-f-dbmox/)
- [DoubleLine Funds N-Port EX Schedule of Holdings Part F - DSEEX](https://doubleline.com/document/doubleline-funds-n-port-ex-schedule-of-holdings-part-f-dseex/)
- [DoubleLine Funds N-Port EX Schedule of Holdings Part F - DSEUX](https://doubleline.com/document/doubleline-funds-n-port-ex-schedule-of-holdings-part-f-dseux/)
- [DoubleLine Funds N-Port EX Schedule of Holdings Part F - DBCMX](https://doubleline.com/document/doubleline-funds-n-port-ex-schedule-of-holdings-part-f-dbcmx/)
- [DoubleLine Funds N-Port EX Schedule of Holdings Part F - DBLTX](https://doubleline.com/document/doubleline-funds-n-port-ex-schedule-of-holdings-part-f-dbltx/)
- [DoubleLine Funds N-Port EX Schedule of Holdings Part F - DBLEX](https://doubleline.com/document/doubleline-funds-n-port-ex-schedule-of-holdings-part-f-dblex/)
- [DoubleLine Funds N-Port EX Schedule of Holdings Part F - DBLFX](https://doubleline.com/document/doubleline-funds-n-port-ex-schedule-of-holdings-part-f-dblfx/)
- [Reregistration and Redemption Options Form](https://doubleline.com/document/doubleline-reregistration-and-redemption-options-form/)
- [Name Change Form](https://doubleline.com/document/doubleline-name-change-form/)
- [Mutual Funds Redemption Form](https://doubleline.com/document/doubleline-mutual-funds-redemption-form/)
- [Letter of Instruction Form](https://doubleline.com/document/doubleline-letter-of-instruction-form/)
- [Change of Registration Form](https://doubleline.com/document/doubleline-change-of-registration-form/)
- [Change of Address](https://doubleline.com/document/doubleline-change-of-address/)
- [Certification Beneficial Owner](https://doubleline.com/document/doubleline-certification-beneficial-owner/)
- [Beneficiary Designation Form](https://doubleline.com/document/doubleline-beneficiary-designation-form/)
- [Attorney-in-Facts Certification](https://doubleline.com/document/doubleline-attorney-in-facts-certification/)
- [Account Options Form](https://doubleline.com/document/doubleline-account-options-form/)
- [DoubleLine Funds 2026 Combined IRA Kit](https://doubleline.com/document/doubleline-funds-2026-combined-ira-kit/)
- [DoubleLine Funds New Account Application - N Share](https://doubleline.com/document/doubleline-funds-new-account-application-n-share/)
- [DoubleLine Funds New Account Application - I Share](https://doubleline.com/document/doubleline-funds-new-account-application-i-share/)
- [DoubleLine Funds 2026 Simple IRA Kit](https://doubleline.com/document/doubleline-funds-2026-simple-ira-kit/)
- [DoubleLine Funds Entity Account Application - N Share](https://doubleline.com/document/doubleline-funds-entity-account-application-n-share/)
- [DoubleLine Funds Entity Account Application - I Share](https://doubleline.com/document/doubleline-funds-entity-account-application-i-share/)
- [DoubleLine Funds 2026 Inherited IRA Kit](https://doubleline.com/document/doubleline-funds-2026-inherited-ira-kit/)
- [DoubleLine Exchange-Traded Funds DLUX Statement of Additional Information (SAI)](https://doubleline.com/document/doubleline-exchange-traded-funds-dlux-statement-of-additional-information-sai/)
- [Ultrashort Income ETF Summary Prospectus](https://doubleline.com/document/ultrashort-income-etf-summary-prospectus/)
- [DoubleLine Exchange-Traded Funds Prospectus DLUX](https://doubleline.com/document/doubleline-exchange-traded-funds-prospectus-dlux/)
- [DoubleLine ETF Semi-Annual Report - DLUX](https://doubleline.com/document/doubleline-etf-semi-annual-report-dlux/)
- [DoubleLine ETFs Qualified Interest Income (QII) - 2024](https://doubleline.com/document/copy-of-doubleline-funds-qualified-interest-income-qii-2023/)
- [ETFs - Income from US Government Obligations and Foreign Sources – 2024](https://doubleline.com/document/etf-income-from-us-government-obligations-and-foreign-sources-2023/)
- [2024 ICI Secondary - ETF](https://doubleline.com/document/2024-ici-secondary-etf/)
- [2025 ICI Secondary - ETF](https://doubleline.com/document/2025-ici-secondary-etf/)
- [2024 ICI Primary - ETF](https://doubleline.com/document/2024-ici-primary-etf/)
- [2025 ICI Primary - ETF](https://doubleline.com/document/2025-ici-primary-etf/)
- [2024 ICI NRA - ETF](https://doubleline.com/document/2025-ici-nra-etf/)
- [2025 ICI NRA - ETF](https://doubleline.com/document/copy-of-2024-ici-nra-etf/)
- [Form N-PX Filing - DoubleLine ETF Trust](https://doubleline.com/document/form-n-px-filing-doubleline-etf-trust/)
- [DoubleLine ETF Annual Report - DLUX](https://doubleline.com/document/doubleline-etf-annual-report-dlux/)
- [2024 DoubleLine ETF Capital Gains](https://doubleline.com/document/2024-doubleline-etf-capital-gains/)
- [2025 DoubleLine Exchange-Traded Funds Final Capital Gains](https://doubleline.com/document/2025-doubleline-exchange-traded-funds-final-capital-gains/)
- [2025 ETF Dividend Payments and Schedule](https://doubleline.com/document/etf-dividend-payments-and-schedule-2025/)
- [DoubleLine Funds N-Port EX ETF Schedule of Holdings Part F](https://doubleline.com/document/doubleline-funds-n-port-ex-schedule-of-holdings-part-f/)
- [DoubleLine ETF PART F Schedule of Investments (SOI) - DLUX](https://doubleline.com/document/doubleline-etf-part-f-schedule-of-investments-soi-dlux/)
- [DoubleLine Closed-End Funds Proxy Statement](https://doubleline.com/document/doubleline-closed-end-funds-proxy-statement/)
- [2025 Mutual Fund Dividend Payments and Schedule](https://doubleline.com/document/2025-dividend-payments-and-schedule/)
- [2024 ICI NRA - Mutual Funds](https://doubleline.com/document/2024-ici-nra-mutual-funds/)
- [2025 ICI NRA - Mutual Funds & CEF](https://doubleline.com/document/2025-ici-nra-mutual-funds-and-cef/)
- [2025 ICI Primary - Mutual Funds & CEF](https://doubleline.com/document/2025-ici-primary-mutual-funds-and-cef/)
- [2025 ICI Secondary - Mutual Funds & CEF](https://doubleline.com/document/copy-of-2024-ici-secondary-mutual-funds/)
- [DoubleLine Exchange-Traded Funds DMBS Statement of Additional Information (SAI)](https://doubleline.com/document/doubleline-exchange-traded-funds-dmbs-statement-of-additional-information-sai/)
- [DoubleLine Exchange-Traded Funds DBND Statement of Additional Information (SAI)](https://doubleline.com/document/doubleline-exchange-traded-funds-dbnd-statement-of-additional-information-sai/)
- [DoubleLine Exchange-Traded Funds DCRE Statement of Additional Information (SAI)](https://doubleline.com/document/doubleline-exchange-traded-funds-dcre-statement-of-additional-information-sai/)
- [DoubleLine Exchange-Traded Funds CAPE Statement of Additional Information (SAI)](https://doubleline.com/document/doubleline-exchange-traded-funds-cape-statement-of-additional-information-sai/)
- [DoubleLine Exchange-Traded Funds DFVE Statement of Additional Information (SAI)](https://doubleline.com/document/doubleline-exchange-traded-funds-dfve-statement-of-additional-information-sai/)
- [DoubleLine Exchange-Traded Funds DCMT Statement of Additional Information (SAI)](https://doubleline.com/document/doubleline-exchange-traded-funds-dcmt-statement-of-additional-information-sai/)
- [DoubleLine Exchange-Traded Funds DMX Statement of Additional Information (SAI)](https://doubleline.com/document/doubleline-exchange-traded-funds-dmx-statement-of-additional-information-sai/)
- [DoubleLine Exchange-Traded Funds DABS Statement of Additional Information (SAI)](https://doubleline.com/document/doubleline-exchange-traded-funds-dabs-statement-of-additional-information-sai/)
- [DoubleLine Exchange-Traded Funds Prospectus - DBND](https://doubleline.com/document/doubleline-exchange-traded-funds-prospectus-dbnd/)
- [DoubleLine Exchange-Traded Funds Prospectus - DCRE](https://doubleline.com/document/doubleline-exchange-traded-funds-prospectus-dcre/)
- [DoubleLine Exchange-Traded Funds Prospectus - DMBS](https://doubleline.com/document/doubleline-exchange-traded-funds-prospectus-dmbs/)
- [DoubleLine Exchange-Traded Funds Prospectus - CAPE](https://doubleline.com/document/doubleline-exchange-traded-funds-prospectus-cape/)
- [DoubleLine Exchange-Traded Funds Prospectus - DCMT](https://doubleline.com/document/doubleline-exchange-traded-funds-prospectus-dcmt/)
- [DoubleLine Exchange-Traded Funds Prospectus - DFVE](https://doubleline.com/document/doubleline-exchange-traded-funds-prospectus-dfve/)
- [DoubleLine Exchange-Traded Funds Prospectus - DMX](https://doubleline.com/document/doubleline-exchange-traded-funds-prospectus-dmx/)
- [DoubleLine Exchange-Traded Funds Prospectus DABS](https://doubleline.com/document/doubleline-exchange-traded-funds-prospectus-dabs/)
- [Fortune 500 Equal Weight ETF Summary Prospectus](https://doubleline.com/document/fortune-500-equal-weight-etf-summary-prospectus/)
- [Commodity Strategy ETF Summary Prospectus](https://doubleline.com/document/commodity-strategy-etf-summary-prospectus/)
- [Multi-Sector Income ETF Summary Prospectus](https://doubleline.com/document/multi-sector-income-etf-summary-prospectus/)
- [Shiller CAPE® U.S. Equities ETF Summary Prospectus](https://doubleline.com/document/shiller-cape-us-equities-etf-summary-prospectus/)
- [Opportunistic Core Bond ETF Summary Prospectus](https://doubleline.com/document/opportunistic-core-bond-etf-summary-prospectus/)
- [Mortgage ETF Summary Prospectus](https://doubleline.com/document/copy-of-commercial-real-estate-etf-summary-prospectus/)
- [Commercial Real Estate Debt ETF Summary Prospectus](https://doubleline.com/document/commercial-real-estate-debt-etf-summary-prospectus-2/)
- [Asset-Backed Securities ETF Summary Prospectus](https://doubleline.com/document/asset-backed-securities-etf-summary-prospectus/)
- [Income from US Government Obligations and Foreign Sources – 2025](https://doubleline.com/document/doubleline-funds-tax-insert-2025/)
- [DoubleLine Funds Qualified Interest Income (QII) - 2025](https://doubleline.com/document/doubleline-qualified-interest-income-2025/)
- [DoubleLine ETF Semi-Annual Report - DSCO](https://doubleline.com/document/doubleline-etf-semi-annual-report-dsco/)
- [DoubleLine ETF PART F Schedule of Investments (SOI) - DSCO](https://doubleline.com/document/doubleline-etf-part-f-schedule-of-investments-soi-dsco/)
- [DoubleLine ETF Annual Report - DCRE](https://doubleline.com/document/doubleline-etf-annual-report-dcre/)
- [DoubleLine ETF PART F Schedule of Investments (SOI) - DCRE](https://doubleline.com/document/doubleline-etf-part-f-schedule-of-investments-soi-dcre/)
- [DoubleLine Mutual Fund Tax Guide 2025](https://doubleline.com/document/doubleline-mutual-fund-tax-guide-2025/)
- [2025 DoubleLine Closed-End Funds Final Capital Gains](https://doubleline.com/document/2025-doubleline-closed-end-funds-final-capital-gains/)
- [2025 DoubleLine Mutual Funds Final Capital Gains](https://doubleline.com/document/2025-doubleline-mutual-funds-final-capital-gains/)
- [DoubleLine Yield Opportunities Semi-Annual Report](https://doubleline.com/document/doubleline-yield-opportunities-semi-annual-report/)
- [DoubleLine Opportunistic Credit Semi-Annual Report](https://doubleline.com/document/doubleline-opportunistic-credit-semi-annual-report/)
- [DoubleLine Income Solutions Semi-Annual Report](https://doubleline.com/document/doubleline-income-solutions-semi-annual-report/)
- [DoubleLine Funds Semi-Annual Report - DBLFX](https://doubleline.com/document/copy-of-doubleline-funds-annual-report/)
- [DoubleLine Funds Semi-Annual Report - DBELX](https://doubleline.com/document/doubleline-funds-semi-annual-report-dbelx/)
- [DoubleLine Funds Semi-Annual Report - DFLEX](https://doubleline.com/document/doubleline-funds-semi-annual-report-dflex/)
- [DoubleLine Funds Semi-Annual Report - DBLGX](https://doubleline.com/document/doubleline-funds-semi-annual-report-dblgx/)
- [DoubleLine Funds Semi-Annual Report - DBLDX](https://doubleline.com/document/doubleline-funds-semi-annual-report-dbldx/)
- [DoubleLine Funds Semi-Annual Report - DBLSX](https://doubleline.com/document/doubleline-funds-semi-annual-report-dblsx/)
- [DoubleLine Funds Semi-Annual Report - DBLLX](https://doubleline.com/document/doubleline-funds-semi-annual-report-dbllx/)
- [DoubleLine Funds Semi-Annual Report - DBMOX](https://doubleline.com/document/doubleline-funds-semi-annual-report-dbmox/)
- [DoubleLine Funds Semi-Annual Report - DSEEX](https://doubleline.com/document/doubleline-funds-semi-annual-report-dseex/)
- [DoubleLine Funds Semi-Annual Report - DSEUX](https://doubleline.com/document/doubleline-funds-semi-annual-report-dseux/)
- [DoubleLine Funds Semi-Annual Report - DBCMX](https://doubleline.com/document/doubleline-funds-semi-annual-report-dbcmx/)
- [DoubleLine Funds Semi-Annual Report - DBLTX](https://doubleline.com/document/doubleline-funds-semi-annual-report-dbltx/)
- [DoubleLine Funds Semi-Annual Report - DBLEX](https://doubleline.com/document/doubleline-funds-semi-annual-report-dblex/)
- [Income Solutions Fund - Form 8937 (2023)](https://doubleline.com/document/income-solutions-fund-form-8937-2023/)
- [Opportunistic Credit Fund - Form 8937 (2023)](https://doubleline.com/document/opportunistic-credit-fund-form-8937-2023/)
- [Yield Opportunities Fund - Form 8937 (2022)](https://doubleline.com/document/dly-form-8937-22/)
- [Opportunistic Credit Fund - Form 8937 (2022)](https://doubleline.com/document/dbl-form-8937-22/)
- [Yield Opportunities Fund - Form 8937 (2020)](https://doubleline.com/document/dly-form-8937-20/)
- [Opportunistic Credit Fund - Form 8937 (2018)](https://doubleline.com/document/dbl-fund-form-8937-18/)
- [Income Solutions Fund - Form 8937 (2018)](https://doubleline.com/document/dsl-form-8937-18/)
- [Opportunistic Credit Fund - Form 8937 (2017)](https://doubleline.com/document/dbl-form-8937-17/)
- [Global Bond Fund - Form 8937 (2017)](https://doubleline.com/document/global-bond-fund-form-8937-2017/)
- [Opportunistic Credit Fund - Form 8937 (2016)](https://doubleline.com/document/dbl-form-8937-16/)
- [Income Solutions Fund - Form 8937 (2016)](https://doubleline.com/document/dsl-form-8937-16/)
- [Yield Opportunities Fund - Form 8937 (2025)](https://doubleline.com/document/yield-opportunities-fund-form-8937-2025/)
- [Opportunistic Credit Fund - Form 8937 (2025)](https://doubleline.com/document/opportunistic-credit-fund-form-8937-2025/)
- [Income Solutions Fund - Form 8937 (2025)](https://doubleline.com/document/income-solutions-fund-form-8937-2025/)
- [Yield Opportunities Fund (DLY) Annual Report](https://doubleline.com/document/yield-opportunities-fund-dly-annual-report/)
- [Income Solutions Fund (DSL) Annual Report](https://doubleline.com/document/income-solutions-fund-dsl-annual-report/)
- [Opportunistic Credit Fund (DBL) Annual Report](https://doubleline.com/document/opportunistic-credit-fund-dbl-annual-report/)
- [DoubleLine ETF PART F Schedule of Investments (SOI) - DFVE](https://doubleline.com/document/doubleline-etf-part-f-schedule-of-investments-soi-dfve/)
- [DoubleLine ETF PART F Schedule of Investments (SOI) - DCMT](https://doubleline.com/document/doubleline-etf-part-f-schedule-of-investments-soi-dcmt/)
- [DoubleLine ETF PART F Schedule of Investments (SOI) - DMBS](https://doubleline.com/document/doubleline-etf-part-f-schedule-of-investments-soi-dmbs/)
- [DoubleLine ETF PART F Schedule of Investments (SOI) - CAPE](https://doubleline.com/document/doubleline-etf-part-f-schedule-of-investments-soi-cape/)
- [DoubleLine ETF PART F Schedule of Investments (SOI) - DMX](https://doubleline.com/document/doubleline-etf-part-f-schedule-of-investments-soi-dmx/)
- [DoubleLine ETF PART F Schedule of Investments (SOI) - DABS](https://doubleline.com/document/doubleline-etf-part-f-schedule-of-investments-soi-dabs/)
- [DoubleLine ETF PART F Schedule of Investments (SOI) - DBND](https://doubleline.com/document/doubleline-etf-part-f-schedule-of-investments-soi-dbnd/)
- [DoubleLine ETF Annual Report - DMX](https://doubleline.com/document/doubleline-etf-annual-report-dmx/)
- [DoubleLine ETF Annual Report - DABS](https://doubleline.com/document/doubleline-etf-annual-report-dabs/)
- [DoubleLine ETF Annual Report - DMBS](https://doubleline.com/document/doubleline-etf-annual-report-dmbs/)
- [DoubleLine ETF Annual Report - DBND](https://doubleline.com/document/doubleline-etf-annual-report-dbnd/)
- [DoubleLine ETF Annual Report - DFVE](https://doubleline.com/document/doubleline-etf-annual-report-dfve/)
- [DoubleLine ETF Annual Report - CAPE](https://doubleline.com/document/doubleline-etf-annual-report-cape/)
- [DoubleLine ETF Annual Report - DCMT](https://doubleline.com/document/doubleline-etf-annual-report-dcmt/)
- [Securitized Credit Fund Combined Prospectus/Proxy Statement](https://doubleline.com/document/securitized-credit-fund-combined-prospectus-proxy-statement/)
- [Securitized Credit Fund Proxy/Statement of Additional Information (SAI)](https://doubleline.com/document/securitized-credit-fund-proxy-sai/)
- [2024 DoubleLine Funds Final Capital Gains](https://doubleline.com/document/2024-doubleline-funds-final-capital-gains/)
- [2024 DoubleLine Closed-End Funds Capital Gains](https://doubleline.com/document/2024-doubleline-closed-end-funds-capital-gains/)
- [2021 DoubleLine Funds Final Capital Gains](https://doubleline.com/document/2021-doubleline-funds-final-capital-gains/)
- [2022 DoubleLine Funds Final Capital Gains](https://doubleline.com/document/2022-doubleline-funds-final-capital-gains/)
- [2023 DoubleLine Funds Final Capital Gains](https://doubleline.com/document/2023-doubleline-funds-final-capital-gains/)
- [2024 ICI Primary - Mutual Funds](https://doubleline.com/document/2024-ici-primary-mutual-funds/)
- [2024 ICI Secondary - Mutual Funds](https://doubleline.com/document/2024-ici-secondary-mutual-funds/)
- [Form N-PX Filing - DoubleLine Funds Trust](https://doubleline.com/document/form-n-px-filing-doubleline-funds-trust/)
- [Income Solutions Fund - Form 8937 (2024)](https://doubleline.com/document/income-solutions-fund-form-8937-2024/)
- [Opportunistic Credit Fund - Form 8937 (2024)](https://doubleline.com/document/opportunistic-credit-fund-form-8937-2024/)
- [Income Solutions Fund Holdings](https://doubleline.com/document/xdslx_holdings/)
- [Yield Opportunities Fund Holdings](https://doubleline.com/document/xdlyx_holdings/)
- [Opportunistic Credit Fund Holdings](https://doubleline.com/document/xdblx_holdings/)
- [Shiller Enhanced International CAPE® Fund Holdings](https://doubleline.com/document/dseux_holdings/)
- [Shiller Enhanced CAPE® Holdings](https://doubleline.com/document/dseex_holdings/)
- [Flexible Income Fund Holdings](https://doubleline.com/document/dflex_holdings/)
- [Total Return Bond Fund Holdings](https://doubleline.com/document/dbltx_holdings/)
- [Low Duration Bond Fund Holdings](https://doubleline.com/document/dblsx_holdings/)
- [Low Duration Emerging Markets Fixed Income Fund Holdings](https://doubleline.com/document/dbllx_holdings/)
- [Global Bond Fund Holdings](https://doubleline.com/document/dblgx_holdings/)
- [Core Fixed Income Fund Holdings](https://doubleline.com/document/dblfx_holdings/)
- [Emerging Markets Fixed Income Fund Holdings](https://doubleline.com/document/dblex_holdings/)
- [Long Duration Total Return Bond Fund Holdings](https://doubleline.com/document/dbldx_holdings/)
- [Emerging Markets Local Currency Bond Fund Holdings](https://doubleline.com/document/dbelx_holdings/)
- [Strategic Commodity Fund Holdings](https://doubleline.com/document/dbcmx_holdings/)
- [Form N-PX Filing - DBL](https://doubleline.com/document/form-n-px-filing-dbl/)
- [Form N-PX Filing - DSL](https://doubleline.com/document/form-n-px-filing-dsl/)
- [Form N-PX Filing - DLY](https://doubleline.com/document/form-n-px-filing-dly/)
- [DoubleLine Core Fixed Income Fund Annual Schedule of Investments](https://doubleline.com/document/doubleline-core-fixed-income-fund-annual-schedule-of-investments/)
- [DoubleLine Alternatives Form ADV (Part 2A)](https://doubleline.com/document/doubleline-alternatives-form-adv-part-2a/): March 31, 2021
- [DoubleLine Core Fixed Income Semi-Annual SOI](https://doubleline.com/document/doubleline-core-fixed-income-annual-soi/)
- [DoubleLine Flexible Income Semi-Annual SOI](https://doubleline.com/document/doubleline-flexible-income-annual-soi/)
- [DoubleLine Shiller Enhanced CAPE Semi-Annual SOI](https://doubleline.com/document/doubleline-shiller-enhanced-cape-annual-soi/)
- [DoubleLine Total Return Bond Semi-Annual SOI](https://doubleline.com/document/doubleline-total-return-bond-annual-soi/)
- [DoubleLine Flexible Income Fund Annual Schedule of Investments](https://doubleline.com/document/doubleline-flexible-income-fund-annual-schedule-of-investments/)
- [DoubleLine Shiller Enhanced CAPE Annual Schedule of Investments](https://doubleline.com/document/doubleline-shiller-enhanced-cape-annual-schedule-of-investments/)
- [DoubleLine Total Return Bond Fund Annual Schedule of Investments](https://doubleline.com/document/doubleline-total-return-bond-fund-annual-schedule-of-investments/)
- [QA document](https://doubleline.com/document/qa-document/)

## Members

- [Jeffrey Sherman, CFA](https://doubleline.com/member/jeffrey-sherman-cfa/): Jeffrey Sherman, DoubleLine’s Deputy Chief Investment Officer, is a thought leader, portfolio manager and public speaker in the industry. Mr. Sherman is a member of DoubleLine’s Fixed Income and Global Asset Allocation committees, and he serves as lead portfolio manager for the firm’s multi-sector and derivative-based strategies. In his role, Mr. Sherman guides the investment
- [Mark Christensen](https://doubleline.com/member/mark-christensen/): Mr. Christensen joined DoubleLine in 2009 as a Portfolio Manager on the Global Sovereign & Emerging Markets team. He is a contributing member on the Fixed Income Asset Allocation Committee. Prior to DoubleLine, Mr. Christensen was a Managing Director at TCW since 1991, where he had been involved in building and managing TCW’s Emerging Markets
- [Su Fei Koo](https://doubleline.com/member/su-fei-koo/): Ms. Koo joined DoubleLine in 2009 as a Portfolio Manager on the Global Sovereign & Emerging Markets team. She is also a member of the Fixed Income Asset Allocation Committee. Prior to DoubleLine, Ms. Koo was a Senior Vice President associated with TCW since 1998. In addition to credit analysis, she was involved in marketing
- [Valerie Ho, CFA](https://doubleline.com/member/valerie-ho-cfa/): Ms. Ho joined DoubleLine in 2009 as an Emerging Markets Sovereign Analyst. She is now a Portfolio Manager for the DoubleLine Global Bond strategy, covering Latin America and Emerging Asia excluding China. Prior to DoubleLine, Ms. Ho was an Assistant Vice President at TCW, where her responsibilities included analyzing multi-asset fixed income and CDO investments.
- [Bill Campbell](https://doubleline.com/member/bill-campbell/): Mr. Campbell joined DoubleLine in 2013. He oversees the firm’s Global Sovereign & Emerging Markets team and serves as the lead Portfolio Manager for the firm’s emerging markets and international strategies. He is a permanent member of the Fixed Income Asset Allocation Committee. Prior to DoubleLine, Mr. Campbell worked for Peridiem Global Investors as a
- [Stephen Dopp](https://doubleline.com/member/stephen-dopp/): Mr. Dopp joined DoubleLine in 2026 as a Relationship Manager on the Global Relationship Management team. Prior to DoubleLine, he was with Lord Abbett & Co. as National Director, Retirement. Mr. Dopp holds a B.S. in Business Administration from Columbia Southern University and an MBA from Rutgers Business School. He also holds the FINRA Series
- [Vitaliy Liberman, CFA](https://doubleline.com/member/vitaliy-liberman-cfa/): Mr. Liberman joined DoubleLine in 2009. He is part of the Portfolio Management and Trading team, specializing in trading mortgages and mortgage credit securities. Mr. Liberman is also a permanent member of the Fixed Income Asset Allocation Committee. Prior to DoubleLine, he was a Vice President at TCW, where he worked in portfolio management and
- [Kunal Patel, CFA](https://doubleline.com/member/kunal-patel-cfa/): Mr. Patel joined DoubleLine in 2016 as a Mortgage Trader specializing in Agency RMBS and was later promoted to Portfolio Manager in 2021. Prior to DoubleLine, he worked as a Managing Director responsible for CMO and specified pool trading at Cantor Fitzgerald. Previous to Cantor, Mr. Patel worked as a CMO, ARMs and Specified Pool
- [Kazuhiro Okamura, CFA](https://doubleline.com/member/kazuhiro-okamura-cfa/): Mr. Okamura joined DoubleLine in 2016 specializing in relationship management for Japanese clients. Prior to DoubleLine, he was at Barings Japan where he was the Head of Institutional Business Development and Client Service and a member of the Board of Directors. Previous to that, Mr. Okamura was at Dresdner RCM Global Investors responsible for institutional
- [Philip Kenney, CFA](https://doubleline.com/member/philip-kenney/): Mr. Kenney joined DoubleLine in 2013 on the Corporate Credit team and has been a Portfolio Manager since 2018. Prior to DoubleLine, he worked at Crescent Capital, where he was a Vice President with a focus on high yield bonds and leveraged loans. Mr. Kenney began his career at Nomura Corporate Research and Asset Management,
- [Brian Stack](https://doubleline.com/member/brian-stack/): Mr. Stack joined DoubleLine in 2015 as a Trader on the Non-Agency MBS and Whole Loans team. He was later promoted to Portfolio Manager in 2019, and is responsible for investments in Residential Mortgage-Backed Securities (RMBS), whole loans, mortgage related assets, and additionally focuses on financing and securitization activities related to performing and non-performing mortgage
- [Steven Wald](https://doubleline.com/member/steven-wald/): Mr. Wald joined DoubleLine in 2009. He is a Portfolio Manager on the Non-Agency MBS team and is responsible for investments in Residential Mortgage-Backed Securities (RMBS), whole loans, and mortgage related assets. Prior to being promoted to Portfolio Manager, Mr. Wald was a Trader responsible for trading and analysis of mortgage credit securities and residential
- [Mark Cho](https://doubleline.com/member/mark-cho/): Mr. Cho joined DoubleLine in 2013. He is a Portfolio Manager responsible for the CMBS credit platform at DoubleLine and participates in the CRE New Investment Review Group. Prior to DoubleLine, he was an Investment Associate at H/2 Capital Partners covering a broad range of real estate credit opportunities. Previous to that, Mr. Cho worked
- [Alex Shvartser](https://doubleline.com/member/alex-shvartser/): Mr. Shvartser joined DoubleLine in 2020 as an Analyst on the Agency RMBS Team. Prior to DoubleLine, he was with TCW as a Senior Vice President, Investment Analytics. Previous to TCW, Mr. Shvartser was a Quantitative Analyst, focused on portfolio and risk management infrastructure at ICE Canyon. Prior to ICE Canyon, he was Vice President
- [Joseph Mezyk, CFA](https://doubleline.com/member/joseph-mezyk/): Mr. Mezyk joined DoubleLine in 2016 as an Analyst focusing on CLOs and other structured products, later transitioning to his role as Portfolio Manager. Prior to DoubleLine, he was a Structured Products Analyst at American Capital where he invested in CLOs for their Leveraged Finance Group. Previous to American Capital, Mr. Mezyk was an Analyst
- [Robert Cohen, CFA](https://doubleline.com/member/robert-cohen-cfa/): Mr. Cohen joined DoubleLine in 2012 and serves as Director of Corporate Credit. In this role, he oversees the firm’s corporate credit team and is the lead portfolio manager for investment grade, high yield and leveraged loan credit strategies. Mr. Cohen also developed DoubleLine’s leveraged finance investment platform, which is utilized across closed-end fund, floating-rate,
- [Michael Casino, CFA](https://doubleline.com/member/michael-casino-cfa/): Mr. Casino joined DoubleLine in 2014 on the Corporate Credit team. Prior to DoubleLine, he worked at Nomura Corporate Research and Asset Management in high yield credit research, most recently as a Vice President. Mr. Casino holds a B.A. in Economics from Yale University and is a CFA® charterholder.
- [Mariya Entina, CPA, CFA](https://doubleline.com/member/mariya-entina-cpa-cfa/): Ms. Entina joined DoubleLine in 2019. She is a Portfolio Manager on the Corporate Credit team, focusing on investment grade corporate bonds. In addition, she is a contributing member of the Fixed Income Asset Allocation Committee and a corporate sector specialist on DoubleLine’s Responsible Investment team, overseeing and monitoring the Responsible Investment integration for the
- [David Mew](https://doubleline.com/member/david-mew/): Mr. Mew joined DoubleLine in 2019 as a Portfolio Manager on the Corporate Credit team. Prior to DoubleLine, he was the Head of Research for U.S. CLOs at BlueMountain Capital Management. Prior to BlueMountain, Mr. Mew was a Principal and Senior Credit Analyst at the Carlyle Group, where he served on the Credit Committee for
- [Ali Zaidi, FCA](https://doubleline.com/member/ali-zaidi/): Mr. Zaidi joined DoubleLine in 2025 and is responsible for managing the firm’s International Sales team and client business. Prior to DoubleLine, he was with Goldman Sachs Asset Management, Dubai, for approximately 15 years, most recently as a Managing Director, Client Business MENA & New Markets. Mr. Zaidi holds a Diploma, Accountancy from City of
- [Aaron Alley, CFP®](https://doubleline.com/member/aaron-alley-cfp/): Relationship Management
- [Jim McCoy, CIMA®](https://doubleline.com/member/jim-mccoy-cima/): Relationship Management
- [Philip Schrode, CIMA®, CPWA®](https://doubleline.com/member/philip-schrode-cima-cpwa/): Mr. Schrode joined DoubleLine in 2026 as Director, National Accounts, on the Global Relationship Management team. Prior to DoubleLine, he was with Guggenheim Investments as Regional Vice President. Mr. Schrode holds a B.A. in Environmental Studies from Gettysburg College. He is a CIMA® and CPWA® professional and also holds the FINRA Series 7, 24 and
- [David Acampora, CFA, CAIA®](https://doubleline.com/member/david-acampora-cfa-caia/): Mr. Acampora joined DoubleLine in 2026 as a Relationship Manager on the Global Relationship Management team. Prior to DoubleLine, he was with Virtus Investments Partners as Managing Director, Consultant Relations. Previous to that, Mr. Acampora was with Ares Management as a Partner. He holds a B.S. in Finance from University of Connecticut. He also holds
- [John Gutowski](https://doubleline.com/member/john-gutowski/): Mr. Gutowski joined DoubleLine in 2026 as a Relationship Manager, West, on the Global Relationship Management team. Prior to DoubleLine, he was with Sculptor Capital Management as Principal. Prior to that, Mr. Gutowski was with Lord Abbett & Co. as a Regional Manager, External Wholesaler. He holds a B.A. in Economics from Gettysburg College and
- [Scott Brown](https://doubleline.com/member/scott-brown/): Mr. Brown joined DoubleLine in 2026 as a Relationship Manager on the Global Relationship Management team. Prior to DoubleLine, he was with Principal Asset Management as Director - Wealth Advisory. Prior to that, Mr. Brown was with Transamerica Funds as a Regional Vice President. He holds a B.A. in History from Princeton University. Mr. Brown
- [Gregory Feldman, CPWA®](https://doubleline.com/member/gregory-feldman-cpwa/): Mr. Feldman joined DoubleLine in 2026 as Relationship Manager, Southeast, on the Global Relationship Management team. Prior to DoubleLine, he was with Thornburg Investment Management as a Managing Director and Senior Investment Consultant. Mr. Feldman holds a B.S. in Policy Analysis and Management from Cornell University. He is also a CPWA® professional and holds the
- [Anthony Balboa, CIMA®, CAIA®](https://doubleline.com/member/anthony-balboa-cima-caia/): Mr. Balboa joined DoubleLine in 2026 as a Relationship Manager, New York City Metro, on the Global Relationship Management team. Prior to DoubleLine, he was with Lord Abbett & Co. as Regional Manager. Mr. Balboa holds a B.S. in Finance Economics: Financial Emphasis from Susquehanna University. He also holds the FINRA Series 7, 24 and
- [Nicholas Dalgety, CFP®](https://doubleline.com/member/nicholas-dalgety-cfp/): Mr. Dalgety joined DoubleLine in 2013 and is responsible for managing our National Accounts and Retirement teams. He has more than 20 years of experience in the financial service industry. Prior to DoubleLine, Mr. Dalgety was a Vice President with Goldman Sachs. Within that role, he worked with financial intermediaries on manager selection, asset allocation
- [Bradley Eckstein](https://doubleline.com/member/bradley-eckstein/): Mr. Eckstein joined DoubleLine in 2026 as a National Sales Manager on the Global Relationship Management team. Prior to DoubleLine, he was with Lord Abbett & Co. as Partner, Head of U.S. Retail. Mr. Eckstein holds a B.A. in Communication from Rutgers University and the FINRA Series 7, 24 and 63 licenses.
- [Jeffrey M. Mayberry](https://doubleline.com/member/jeffrey-mayberry/): Mr. Mayberry joined DoubleLine in 2009. He is a Portfolio Manager on DoubleLine’s Strategic Commodity Strategy while working in portfolio management and trading for derivatives‐based and multi‐asset strategies. Mr. Mayberry is a Strategist on the Fixed Income Asset Allocation (FIAA) committee and a contributing member on our Global Asset Allocation committee. He also co-hosts DoubleLine’s
- [Eric Dhall](https://doubleline.com/member/eric-dhall/): Mr. Dhall joined DoubleLine in 2013. He is a Portfolio Manager on the Macro Asset Allocation team, where he works with portfolio management performing analysis and trading for derivatives-based and multi-asset strategies. His research and analysis has contributed to the team’s development of DoubleLine’s smart-beta suite of strategies. Mr. Dhall also co-hosts DoubleLine’s weekly “Minutes”
- [Mark Kimbrough, CFA](https://doubleline.com/member/mark-kimbrough-cfa/): Mr. Kimbrough joined DoubleLine in 2012, working primarily on Agency Mortgage-Backed Securities and the Fixed Income Asset Allocation process as a member of the Risk Analyst team. He transitioned in 2019 to his current role as an Analyst on the Macro Asset Allocation team. Mr. Kimbrough also co-hosts DoubleLine’s weekly “Minutes” podcast (X @DLineMinutes, Minutes@Doubleline.com).
- [Ryan Kimmel](https://doubleline.com/member/ryan-kimmel/): Mr. Kimmel joined DoubleLine in 2013. He is a Strategist on the Macro Asset Allocation team, the Fixed Income Asset Allocation (FIAA) Committee and a contributing member on our Global Asset Allocation Committee. Mr. Kimmel also co-hosts DoubleLine’s weekly “Minutes” podcast (X @DLineMinutes, Minutes@Doubleline.com). Prior to DoubleLine, he was a Proprietary Trader at Gelber Group.
- [Elaine Zhang, CFA](https://doubleline.com/member/elaine-zhang/): Ms. Zhang joined DoubleLine in 2016 as an Analyst, later transitioning to her current role as Portfolio Manager on theGlobal Sovereign & Emerging Markets team. She is responsible for researching, managing and trading U.S. government securities, municipal bonds and derivatives. Ms. Zhang is also a sovereign sector specialist on DoubleLine’s Responsible Investment team, overseeing and
- [Mark Coombs](https://doubleline.com/member/copy-of-emad-rajaie/): Mr. Coombs joined DoubleLine in 2022 as a Relationship Manager, Europe on the Global Relationship Management team. Prior to DoubleLine, he was with MKP Capital Management as a Managing Director - Client Solutions. Previous to that, Mr. Coombs was with BT Pension Scheme Management as Head of Hedge Fund and Alternatives Manager Selection. He holds
- [Jonathan Kingery, CFP®, AIF®](https://doubleline.com/member/jonathan-kingery/): Mr. Kingery joined DoubleLine in 2025 as a Chief Distribution Officer and is responsible for managing the firm’s U.S. Relationship Management team and client business. He is also a member of DoubleLine’s Executive Committee. Prior to DoubleLine, Mr. Kingery was with Franklin Templeton as Head of U.S. Wealth Management. Prior to that, he was with
- [Jeffrey Gundlach](https://doubleline.com/member/jeffrey-gundlach/): 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
- [Ronald R. Redell, CFA](https://doubleline.com/member/ron-r-redell-cfa/): Mr. Redell serves as President of DoubleLine and has been with the firm since its inception in 2009. He holds the role of President for DoubleLine Funds Trust, DoubleLine Capital LP and DoubleLine Management LP, where he leads the Executive Committee comprising all operational department leaders. Mr. Redell is also Chairman, Trustee and CEO of
- [Ian Farnan](https://doubleline.com/member/ian-farnan/): Mr. Farnan joined DoubleLine in 2025 as a Relationship Manager on the Global Relationship Management team. Prior to DoubleLine, he was with Goldman Sachs as Associate Sales Support. Prior to that, Mr. Farnan was with Morgan Stanley as a Registered Client Service Associate. He holds a B.S. in Business from Indiana University. Mr. Farnan also
- [A.J. Bolles](https://doubleline.com/member/a-j-bolles/): Mr. Bolles joined DoubleLine in 2025 as a Relationship Manager on the Global Relationship Management team. Prior to DoubleLine, he was with Goldman Sachs as Associate Sales Support. Prior to that, Mr. Bolles was with Baird Asset Management as Intermediary Sales Support. He holds a BBA from the University of Wisconsin at Madison. Mr. Bolles
- [Earl Lariscy](https://doubleline.com/member/earl-lariscy/): Mr. Lariscy joined DoubleLine in 2010. He serves as General Counsel, Director of Corporate Governance and is a member of DoubleLine’s Executive Management. Prior to DoubleLine, Mr. Lariscy was a Director and Agency General Manager of Barclays Capital’s California based banking operations. Previous to that, he worked in the Legal Department at TCW and in
- [Barbara VanEvery](https://doubleline.com/member/barbara-vanevery/): Ms. VanEvery joined DoubleLine in 2009. She is the Chief Marketing Officer overseeing the Investor Services Group which includes Client Service, Communications, Product Specialists and the RFP teams. Ms. VanEvery is also a member of the firm's Executive Committee. Prior to DoubleLine, she was a Senior Vice President at TCW where she was responsible for
- [Patrick Townzen](https://doubleline.com/member/patrick-townzen/): Mr. Townzen joined DoubleLine in 2012. He serves as the firm’s Chief Operating Officer, with responsibility for overseeing DoubleLine’s Operations Group and is a member of the Executive Committee. Prior to DoubleLine, Mr. Townzen served in a variety of roles within the Operations and Analytics and Risk Management departments at Western Asset Management. He holds
- [Cris Santa Ana](https://doubleline.com/member/cris-santa-ana/): Mr. Santa Ana joined DoubleLine in 2009 serving as the firm’s Chief Risk Officer. He is an officer of DoubleLine Funds Trust and also serves as a member of the Executive Management and various subcommittees which oversee and review business functions and enterprise risk across the firm. Prior to DoubleLine, Mr. Santa Ana was a
- [Michael Ryan, CFP®, CAIA](https://doubleline.com/member/michael-ryan/): Mr. Ryan joined DoubleLine in 2016 and is responsible for client relationship management on the East Coast. He has years of experience in the financial services industry. Prior to DoubleLine, he was a Vice President with T. Rowe Price, where he worked with financial intermediaries on manager selection, asset allocation decisions and practice management. He
- [Casey Moore](https://doubleline.com/member/casey-moore/): Mr. Moore joined DoubleLine at its inception in 2009 and is a member of the firm’s Executive Management Committee. As Chief Technology Officer, he oversees DoubleLine’s technology, including systems and data selection, application development and integration, data center architecture, disaster recovery, and information security. Mr. Moore is also a permanent member of DoubleLine’s Operational Risk
- [David Maxfield, CFA, CAIA](https://doubleline.com/member/david-maxfield/): Mr. Maxfield joined DoubleLine in 2022 as an ETF Relationship Manager on the Global Relationship Management team. Prior to DoubleLine, he was with Pacific Investment Management Company as a Vice President, ETF Account Manager. Previous to that, Mr. Maxfield was with State Street Global Advisors as a Vice President, Regional Consultant in their SPDR ETF
- [Sam Garza](https://doubleline.com/member/sam-garza/): Mr. Garza joined DoubleLine in 2009. He is a Portfolio Manager overseeing both the Macro-Asset Allocation and CLO teams. He is a permanent member of the Fixed Income Asset Allocation and the Structured Product Committees. Prior to DoubleLine, Mr. Garza was a Senior Vice President at TCW where he held several positions over his tenure
- [Joan Elam](https://doubleline.com/member/joan-elam/): Ms. Elam joined DoubleLine in 2012. She serves as the firm’s Chief Human Resources Officer overseeing the Human Resources Group and is a member of the Executive Committee. Prior to DoubleLine, Ms. Elam was the HR Records Manager at TBWA\Chiat\Day advertising agency. Previous to that, she worked for Smith Barney/Citigroup as Vice President of Operations.
- [Seth Coulson, CFA](https://doubleline.com/member/seth-coulson/): Mr. Coulson joined DoubleLine in 2024. Prior to DoubleLine, he was with Pacific Investment Management Company as Vice President Account Manager. Previous to that, Mr. Coulson was with State Street IMS as a MBS Allocations Specialist. He holds a B.S. in Finance from the University of Wisconsin-La Crosse and a MBA from University of Southern
- [Katherine Ali](https://doubleline.com/member/katherine-ali/): Ms. Ali joined DoubleLine at its inception in 2009. She is responsible for managing the firm’s client service and sales support team for sub-advisory clients. In addition, Ms. Ali focuses on building and maintaining relationships between the firm and its strategic partners in the intermediary distribution space. Prior to DoubleLine, she was a Vice President
- [Robert Stanbrook](https://doubleline.com/member/robert-stanbrook/): Mr. Stanbrook joined DoubleLine in 2019. He is a Portfolio Manager responsible for the CRE loan platform as well as DoubleLine’s CRE CLO portfolios. Mr. Stanbrook is also a CRE sector specialist on DoubleLine’s Responsible Investment Team, overseeing and monitoring the Responsible Investment integration framework for the CMBS/CRE group. Prior to DoubleLine, he was a
- [Corey Clermont, CFP®](https://doubleline.com/member/copy-of-jim-mccoy-cima/): Relationship Management
- [Andrew Hsu, CFA](https://doubleline.com/member/andrew-hsu-cfa/): Mr. Hsu joined DoubleLine at its inception in 2009. He is a Portfolio Manager for the DoubleLine Total Return and ABS/Infrastructure Income strategies. Mr. Hsu is a permanent member of the Fixed Income Asset Allocation and Structured Products Committees. Prior to that, he was responsible for analysis and trading of structured products, where his focus
- [Paul Schroeder, CFA](https://doubleline.com/member/paul-schroeder/): Mr. Schroeder joined DoubleLine in 2025 as a Relationship Manager on the Global Relationship Management team. Prior to DoubleLine, he was with WAMCO as an Insurance Executive. Mr. Schroeder holds a B.S. in Finance from California State Polytechnic University, Pomona. He is a CFA® charterholder.
- [Ken Shinoda, CFA](https://doubleline.com/member/ken-shinoda-cfa/): Mr. Shinoda joined DoubleLine at inception in 2009. He is Chairman of the Structured Products Committee and oversees the non-Agency RMBS team specializing in investing in non-Agency mortgage-backed securities, residential whole loans and other mortgage-related opportunities. Mr. Shinoda is co-Portfolio Manager on the Total Return, Opportunistic Income, Income, Opportunistic MBS and Strategic MBS strategies. He
- [Matthew Park](https://doubleline.com/member/copy-of-matthew-baca/): Mr. Park joined DoubleLine in 2011. He is a Portfolio Manager on the Agency RMBS team. Prior to Mr. Park’s current position, he was a Trader for Structured Products, focused on the Agency RMBS sector. Mr. Park started his career at DoubleLine as a Funds Representative on the Investor Services team and an Analyst on
- [Nikhil Rajgopal](https://doubleline.com/member/nikhil-rajgopal/): Mr. Rajgopal joined DoubleLine in 2015 as an Analyst on the Risk Management team and later transitioned to his current role as Portfolio Manager on the Agency RMBS team. Prior to DoubleLine, he was at BNY Mellon as Vice President in the Treasury Market Risk group. Previous to BNY Mellon, Mr. Rajgopal was an Associate
- [Fifi Wong](https://doubleline.com/member/fifi-wong/): Ms. Wong joined DoubleLine in 2009. She is Portfolio Manager on the Global Infrastructure Investment and Asset-Backed Securities team. Prior to DoubleLine, Ms. Wong was an Assistant Vice President at TCW where she was a Structured Products Risk Analyst. She holds a B.S. in Mathematics/Economics from the University of California, Los Angeles.
- [Matthew Baca](https://doubleline.com/member/matthew-baca/): Mr. Baca joined DoubleLine in 2011. He is a member of the Global Relationship Management group, where he primarily functions as a Portfolio Specialist acting as liaison for sub-advised clients. Mr. Baca is responsible for supporting a variety of the firm’s marketing and distribution efforts by participating in investment meetings and presenting on DoubleLine’s investment
- [Todd Lawson, CIMA®](https://doubleline.com/member/todd-lawson-cima/): Mr. Lawson joined DoubleLine in 2013. He is a Relationship Manager for National Accounts and is responsible for the oversight of Private Wealth Firms. Mr. Lawson has years of financial experience working with Private Banks, Family Offices, Institutional Clients and Registered Investment Advisors. Prior to DoubleLine, he was a Director with Blackrock, I-Shares working with
- [John Hussey](https://doubleline.com/member/john-hussey/): Mr. Hussey joined DoubleLine in 2015 specializing in intermediary sales and client relations. Prior to DoubleLine, he worked at PIMCO where he was a Vice President and External Advisor Consultant focusing on various areas within the Northeast. Mr. Hussey holds a BA in History from the University of Connecticut.
- [Ryan Hart](https://doubleline.com/member/ryan-hart/): Mr. Hart joined DoubleLine in 2016. He is responsible for managing the development and implementation of the firm's relationships with global, national and regional institutional investment consulting firms and their clients. Prior to DoubleLine, he was a Senior Vice President at PIMCO where he oversaw the firm's relationships with several of the largest global investment
- [Hunter Downs, CFA](https://doubleline.com/member/hunter-downs/): Mr. Downs joined DoubleLine in 2014. He is responsible for communicating DoubleLine’s investment strategies with institutional consulting firms. Mr. Downs builds and maintains consultant firm relationships and serves as a resource to consultants on markets, product development and trends. In addition to planning, coordinating and participating in meetings with research teams, Mr. Downs works with
- [Henry Chase](https://doubleline.com/member/henry-chase/): Mr. Chase joined DoubleLine in 2010. He serves as the firm’s Chief Financial Officer, overseeing the Finance team, and Treasurer of the Registered Funds and ETFs. Mr. Chase is also a member of the Executive Committee. Prior to DoubleLine, he was a partner in the Southern California practice of Tatum LLC for 10 years. Mr.
- [David Coraggio](https://doubleline.com/member/david-coraggio/): Mr. Coraggio joined DoubleLine in 2024 as a Relationship Manager on the Global Relationship Management team. Prior to DoubleLine, he was with Dimensional Fund Advisors as Vice President. He holds a B.S. in Finance from the University of Delaware. Mr. Coraggio holds the FINRA Series 7 and 63 licenses.
- [Product Specialists](https://doubleline.com/member/product-specialists/)
- [Damien Contes, CFA](https://doubleline.com/member/damien-contes-cfa/): Mr. Contes joined DoubleLine in 2013. He is Chairman of the Responsible Investment Advisory Committee and leads the firmwide Responsible Investment initiative and the DoubleLine Responsible Investment Team. In addition, Mr. Contes is a Portfolio Manager on the Global Infrastructure Investments team. Previously, Mr. Contes was a Corporate Analyst responsible for the coverage of transportation,
- [Nicholas Engler](https://doubleline.com/member/nicholas-engler/): Mr. Engler joined DoubleLine in 2020 as an Analyst, Sovereign Credit on the International Fixed Income team. Prior to DoubleLine, he worked at J.P. Morgan in London, where his responsibilities included country risk management for the Middle East and North Africa. Previous to J.P. Morgan, Mr. Engler worked as a Research Assistant at S&P Global
- [Rudy Garza, CFA](https://doubleline.com/member/rudy-garza-cfa/): Mr. Garza joined DoubleLine in 2023 as a Relationship Manager on the Global Relationship Management team. Prior to DoubleLine, he was with Polar Capital as Director, Business Development. Previous to that, Mr. Garza was with Royce Investment Partners as a West Coast Sales Director. Prior to that, he spent over 14 years between PIMCO and
- [Tonja Truesdell, CIMA®](https://doubleline.com/member/tonja-truesdell/): Ms. Truesdell joined DoubleLine in 2020 as a Relationship Manager, specializing in institutional sales and client relations within the Southeast territory of the U.S. Prior to DoubleLine, she was with Thornburg Investment Management as a Regional Director. Previous to that, Ms. Truesdell was with Payden & Rygel as a Currency Trader. She holds a BS
- [Fred Schachinger, CFA](https://doubleline.com/member/fred-schachinger-cfa/): Mr. Schachinger joined DoubleLine in 2014 specializing in institutional sales and client relations. Prior to DoubleLine, he was a Director of Institutional Sales with Deutsche Asset Management. Previous to that, Mr. Schachinger was with Barclays Global Investors and later BlackRock (through its acquisition of BGI) in a variety of roles culminating in his responsibility for
- [John Ostrander](https://doubleline.com/member/john-ostrander/): Mr. Ostrander joined DoubleLine in 2015 as a Product Specialist/Relationship Manager where he specializes in sub advisory sales and client relations. Prior to DoubleLine, he was a Senior Vice President and Head of Insurance and Sub Advisory Markets for Scout Investments. Previous to that, Mr. Ostrander was a Managing Director for the Institute for Wealth
- [Michal Marczak, CFA](https://doubleline.com/member/michal-marczak-cfa/): Mr. Marczak joined DoubleLine’s Global Developed Credit Group in 2016 as a Distressed Debt Specialist and was later promoted to Portfolio Manager. Prior to DoubleLine, he was a Senior Analyst at River Birch Capital investing across the capital structure and focusing on stressed and distressed opportunities. Previous to that, Mr. Marczak was a Senior Analyst
- [Jameson Love, CIMA®, CRPS](https://doubleline.com/member/jamison-love-cima-crps/): Mr. Love joined DoubleLine in 2017. He is a member of the Global Relationship Management Group, in which he functions as a Portfolio Specialist educating intermediary clients on DoubleLine’s investment processes, market views and portfolio positioning. Mr. Love is responsible for supporting the firm’s intermediary service, marketing and distribution efforts. Previously, he was a Product
- [Rafer Kingston, CFA](https://doubleline.com/member/rafer-kingston-cfa/): Mr. Kingston joined DoubleLine in 2017 as a Relationship Manager, leading the firm’s efforts with private banks and trust companies nationally. Prior to DoubleLine, he was a Senior Vice President at PIMCO, responsible for overseeing the firm’s leading private bank relationships serving as the primary resource for clients across different organizations. In addition, Mr. Kingston
- [Graham Hopper, CIMA®](https://doubleline.com/member/graham-hopper-cima/): Mr. Hopper joined DoubleLine in 2014 and is responsible for Family Office and RIA relationships in the West. He also manages the Relationship Management team focused on Broker-Dealers, Family Offices, and RIAs. Mr. Hopper has more than 17 years of experience in the financial service industry. Prior to DoubleLine, he was a Vice President at
- [Chris Harlin](https://doubleline.com/member/chris-harlin/): Mr. Harlin joined DoubleLine in 2015 where he specializes in institutional sales and client relations. Prior to DoubleLine, he was a Senior Vice President of Institutional Sales for Northern Trust Global Investments. Previous to that, Mr. Harlin was the Senior Vice President, Head of Midwest and West Coast Institutional Sales for Lynch, Jones & Ryan.
- [James Davison, CPWA®, CIMA®](https://doubleline.com/member/james-davison-cpwa-cima/): Mr. Davison joined DoubleLine in 2016. He focuses on the development and maintenance of relationships with financial advisors at major broker dealers. Prior to DoubleLine, Mr. Davison held positions with PIMCO and SSgA, focusing on ETF distribution and product development in a variety of channels. Previous to that, he spent the bulk of his financial
- [Morris Chen](https://doubleline.com/member/morris-chen/): Mr. Chen joined DoubleLine at its inception in 2009. He is a Portfolio Manager leading the CMBS/CRE Debt Investment team and CRE New Investment Review Group, and is responsible for the oversight and management of all CRE Debt related investments at DoubleLine. Mr. Chen is a permanent member of the Fixed Income Asset Allocation and
- [Tyler Anthony, CFA, CAIA](https://doubleline.com/member/tyler-anthony/): Mr. Anthony joined DoubleLine in 2018 as a Relationship Manager, specializing in institutional sales and client relations. Prior to DoubleLine, he worked at BlackRock as an Investment Management Consultant and Morgan Stanley as a Financial Advisor. Mr. Anthony holds a BS from the University of Pennsylvania, The Wharton School. He is a CFA® charterholder and
- [Youse Guia](https://doubleline.com/member/youse-guia/): Mr. Guia joined DoubleLine in 2018 as the Chief Compliance Officer of the DoubleLine Funds, DoubleLine Capital LP, DoubleLine Equity LP and DoubleLine ETF Adviser LP. He is also a member of DoubleLine’s Executive Committee. Prior to DoubleLine, Mr. Guia was an Executive Vice President and Deputy Chief Compliance Officer at Pacific Investment Management Company.

## Disclosures

- [Morningstar Overall Rating - DBLDX](https://doubleline.com/disclosure/morningstar-overall-rating-dbldx/): The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. In the US Fund Long Government category, the Fund was rated 4 stars among 55 funds for the 3-year period, 3 stars among 40 funds
- [Morningstar Overall Rating - DBELX](https://doubleline.com/disclosure/morningstar-overall-rating-dbelx/): The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. In the US Fund Emerging-Markets Local-Currency Bond category, the Fund was rated 3 stars among 63 funds for the 3-year period, 4 stars among 61
- [Morningstar Overall Rating - DFLEX](https://doubleline.com/disclosure/morningstar-overall-rating-dflex/): The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. In the US Fund Multisector Bond category, the Fund was rated 4 stars among 339 funds for the 3-year period, 4 stars among 310 funds
- [Morningstar Overall Rating - DBLSX](https://doubleline.com/disclosure/morningstar-overall-rating-dblsx/): The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. In the US Fund Short-Term Bond category, the Fund was rated 3 stars among 522 funds for the 3-year period, 5 stars among 493 funds
- [Morningstar Overall Rating - DSCO](https://doubleline.com/disclosure/morningstar-overall-rating-dsco/): The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. In the US Fund Securitized Bond - Diversified category, the Fund was rated 5 stars among 87 funds for the 3-year period, 3 stars among
- [Open-End Distributor Language](https://doubleline.com/disclosure/open-end-distributor-language/): DoubleLine Funds are distributed by Quasar Distributors, LLC.
- [Open-End Distributor (new)](https://doubleline.com/disclosure/open-end-distributor-new/): DoubleLine Funds are distributed by Quasar Distributors, LLC.
- [30-Day SEC Yield](https://doubleline.com/disclosure/30-day-sec-yield/): 30-Day SEC Yield – Standard yield calculation developed by the U.S. Securities and Exchange Commission (SEC) that allows for fairer comparisons of bond funds. It is based on the most-recent 30-day period covered by the fund’s filings with the SEC. The yield figure reflects the fund’s dividends and interest earned during the period after the deduction
- [30-Day SEC Yield (new)](https://doubleline.com/disclosure/30-day-sec-yield-new/): 30-Day SEC Yield – Standard yield calculation developed by the U.S. Securities and Exchange Commission (SEC) that allows for fairer comparisons of bond funds. It is based on the most-recent 30-day period covered by the fund’s filings with the SEC. The yield figure reflects the fund’s dividends and interest earned during the period after the deduction
- [Morningstar "Star Rating"](https://doubleline.com/disclosure/morningstar-star-rating/): The Morningstar Rating for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a
- [Morningstar Copyright](https://doubleline.com/disclosure/morningstar-copyright/): © 2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use
- [R6 and I2 Prior Performance (July 31, 2026)](https://doubleline.com/disclosure/r6-and-i2-prior-performance-july-2026/): Class R6 shares were not available for purchase until July 31, 2026. The performance shown prior to that date is that of the Class I share of the Fund. Annual returns of Class R6 shares would have differed from that shown for the period prior to the share class inception only to the extent that
- [Legal or Tax Advice](https://doubleline.com/disclosure/legal-or-tax-advice/): DoubleLine does not provide legal or tax advice. Please consult your tax and/or legal counsel for specific tax or legal questions and concerns. The discussion herein is general in nature and is provided for informational purposes only. There is no guarantee as to its accuracy or completeness. Any tax statements contained herein are not intended
- [Tax or Legal Information](https://doubleline.com/disclosure/tax-or-legal-information/): Any tax or legal information provided is merely a summary of our understanding and interpretation of some of the current income tax regulations and is not exhaustive. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation. Neither the Fund nor any of its representatives may give legal
- [ETF investing involves risk](https://doubleline.com/disclosure/etf-investing-involves-risk/): Investing in exchange-traded funds involves risk. Principal loss is possible.
- [I2 Prior Performance (Nov. 3, 2025)](https://doubleline.com/disclosure/i2-prior-performance-nov-3-2025/): Class I2 shares of the Fund commenced operations on November 3, 2025. Performance shown prior to that inception date is that of Class I shares (which invest in the same portfolio of securities as Class I2 shares), reduced by an estimate of the additional annual operating expenses that would have applied to Class I2 shares
- [Closed-End Funds Distributor (new)](https://doubleline.com/disclosure/closed-end-funds-distributor-new/): Foreside Fund Services, LLC provides marketing review services for DoubleLine Capital, LP.
- [ETF Distributor (new)](https://doubleline.com/disclosure/etf-distributor-2/): DoubleLine ETFs are distributed by Foreside Fund Services, LLC.
- [Closed-End Funds Distributor Language](https://doubleline.com/disclosure/closed-end-funds-distributor-language/): Foreside Fund Services, LLC provides marketing review services for DoubleLine Capital, LP.
- [ETF Distributor](https://doubleline.com/disclosure/etf-distributor/): DoubleLine ETFs are distributed by Foreside Fund Services, LLC.
- [DSCO ETF Prior Performance](https://doubleline.com/disclosure/dsco-etf-prior-performance/): Information Regarding the Reorganization: DoubleLine Securitized Credit Fund, a series of DoubleLine Funds Trust (the "Predecessor Fund"), was reorganized into the Fund on January 30, 2026 following shareholder approval (the "Reorganization"). The Fund commenced operations as an ETF as of that date and, as a result of the Reorganization, the Fund assumed the performance and
- [DSCO Prior Performance REF](https://doubleline.com/disclosure/dsco-prior-performance-ref/): Performance prior to January 30, 2026 is that of Class I of DoubleLine Securitized Credit Fund, a series of DoubleLine Funds Trust. For more information regarding the reorganization of DoubleLine Securitized Credit Fund into the Fund, please see "Information Regarding the Reorganization" at the bottom of this fund page.
- [Performance Paragraph (ETFs)](https://doubleline.com/disclosure/performance-paragraph-etfs/): Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance of the fund may be lower or higher than the performance quoted.
- [R6 and I2 Prior Performance](https://doubleline.com/disclosure/r6-and-i2-prior-performance/): Class R6 shares were not available for purchase until July 31, 2019. The performance shown prior to that date is that of the Class I share of the Fund. Annual returns of Class R6 shares would have differed from that shown for the period prior to the share class inception only to the extent that
- [Performance Data for All Funds Page](https://doubleline.com/disclosure/performance-data-for-all-funds-page/): Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance of the fund may be lower or higher than the performance quoted.
- [Alternatives Investment Adviser Language](https://doubleline.com/disclosure/alternatives-investment-adviser-language/): DoubleLine Alternatives LP is the investment adviser to the DoubleLine Strategic Commodity Fund, Shiller Enhanced CAPE. DoubleLine Capital LP is the investment adviser to those mutual funds. DoubleLine Capital LP and DoubleLine Alternatives LP are investment advisers registered with the SEC under the Investment Advisers Act of 1940. The DoubleLine mutual funds are distributed by
- [Net Asset Value (NAV)](https://doubleline.com/disclosure/net-asset-value-nav/): Net value of an entity calculated as the total value of the entity’s assets minus the total value of its liabilities. Most commonly used in the context of a mutual fund or an exchange-traded fund (ETF), the NAV represents the per share/unit price of the fund at a specific date or time.
- [DoubleLine Advisor Language (Alts and LP)](https://doubleline.com/disclosure/doubleline-advisor-language-alts-and-lp/): DoubleLine Alternatives LP is the investment adviser to the DoubleLine Strategic Commodity Fund. DoubleLine Capital LP is the investment adviser to that mutual fund. DoubleLine Capital LP and DoubleLine Alternatives LP are investment advisers registered with the SEC under the Investment Advisers Act of 1940.
- [Prospectus and Investing Language for ETFs (Specific)](https://doubleline.com/disclosure/prospectus-and-investing-language-for-etfs-specific/): An ETF's investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus contain this and other important information about the investment company and may be obtained by calling (855) 937-0772, or downloading from the fund document library on this website. Read them carefully before investing.
- [Performance Paragraph (ex-MAG)](https://doubleline.com/disclosure/performance-paragraph-ex-mag-cef/): Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance of the fund may be lower or higher than the performance quoted.
- [Performance Paragraph for MAG](https://doubleline.com/disclosure/copy-of-performance-paragraph-ex-mag/): Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance of the fund may be lower or higher than the performance quoted.
- [CEF Opportunistic Credit Form 8-A](https://doubleline.com/disclosure/cef-opportunistic-credit-form-8-a/): To access the Funds Form 8-A information, click here.
- [CEF Income Solutions Form 8-A](https://doubleline.com/disclosure/cef-income-solutions-form-8-a/): To access the Funds Form 8-A information, click here.
- [CEF Income Solutions Section 16](https://doubleline.com/disclosure/cef-income-solutions-section-16/): To access the Funds Section 16 Information, click here.
- [CEF Opportunistic Credit Section 16](https://doubleline.com/disclosure/cef-opportunistic-credit-section-16/): To access the Funds Section 16 Information, click here.
- [Fortune DFVE](https://doubleline.com/disclosure/fortune-dfve/): Fortune and Fortune 500 are registered trademarks of Fortune Media IP limited (“Fortune IP”, together with its affiliate Fortune Media (U.S.A) corporation, the “Fortune Group”) used under license. Fortune Group is not affiliated with and does not endorse products or services of Barclays Bank PLC or DoubleLine. Fortune Group and Fortune are not investment advisors
- [Barclays DFVE](https://doubleline.com/disclosure/barclays-dfve/): Barclays Bank PLC and its affiliates (“Barclays”) is not the developer or implementer of the DoubleLine Fortune 500 Equal Weighted ETF (the “ETF”) and Barclays has no responsibilities, obligations or duties to investors in the ETF. The Barclays Fortune 500 Equal Weighted Total Return Index (the “Index”) is comprised of trademarks owned by or licensed
- [ETF Yield to Maturity](https://doubleline.com/disclosure/etf-yield-to-maturity/): Yield to maturity (YTM) does not represent return. YTM provides a summary measurement of an investment’s cash flows, including principal received at maturity based on a given price. Actual yields may fluctuate due to a number of factors such as the holding period, changes in reinvestment rates as cash flows are received and redeployed, receipt
- [Prospectus Language and Investing Language for ETFs](https://doubleline.com/disclosure/prospectus-language-and-investing-language-for-etfs/): The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus contain this and other important information about the investment company and may be obtained by calling (855) 937-0772, or downloading from the fund document library on this website. Read them carefully before investing.
- [Derivatives](https://doubleline.com/disclosure/derivatives/): Derivatives involve special risks including correlation, counterparty, liquidity, operational, accounting and tax risks. These risks, in certain cases, may be greater than the risks presented by more traditional investments.
- [Performance Info Shown DCMB - DMBS](https://doubleline.com/disclosure/performance-info-shown-dcmb-dmbs/): The performance information shown assumes the reinvestment of all dividends and distributions. Returns of less than on one year are not annualized. While the fund is no-load, management fees and other expenses still apply. Index returns reflect no deduction for fees, expenses or taxes. Please refer to the prospectus for further details.
- [Fortune 500 - Common Stock Market Price](https://doubleline.com/disclosure/fortune-500-common-stock-market-price/): The risk that the market price of common stocks and other equity securities may go up or down, sometimes rapidly or unpredictably, including due to factors affecting equity securities markets generally, particular industries represented in those markets, or the issuer.
- [Fortune 500 - Fund Underperformance](https://doubleline.com/disclosure/fortune-500-fund-underperformance/): Fund may underperform the return of the Underlying Index for a number of reasons, including, for example, (i) the performance of investments or derivatives related to the Underlying Index may not correlate with the Underlying Index and/or may underperform the Index due to transaction costs, fees, or other aspects of the transaction’s pricing; (ii) the
- [Fortune 500 - Market Cap Category Risk](https://doubleline.com/disclosure/fortune-500-market-cap-category-risk/): The risk that investing substantially in issuers in one market capitalization category (large, medium, or small) may adversely affect the Fund because of unfavorable market conditions particularly to that category of issuers, such as larger, more established companies being unable to respond quickly to new competitive challenges or attain the high growth rates of successful
- [Commodity ETF - Commodity Risk](https://doubleline.com/disclosure/commodity-etf-commodity-risk/): The risk that the value of the Fund’s shares may be affected by changes in the values of the Fund’s investment exposures to commodities or commodity-related instruments, which may be extremely volatile and difficult to value.
- [Longer Duration vs. Shorter Duration](https://doubleline.com/disclosure/longer-duration-vs-shorter-duration/): The value of an instrument with a longer duration (whether positive or negative) will be more sensitive to changes in interest rates than a similar instrument with a shorter duration.
- [Unable to Sell a Portfolio/Illiquidity](https://doubleline.com/disclosure/unable-to-sell-a-portfolio/): There is the risk that the Fund may be unable to sell a portfolio investment at a desirable time or at the value the Fund has placed on the investment. Illiquidity may be the result of, for example, low trading volume, lack of a market maker, or contractual or legal restrictions that limit or prevent
- [Default on Mortgage Obligations](https://doubleline.com/disclosure/default-on-mortgage-obligations/): There is risk that borrowers may default on their mortgage obligations or the guarantees underlying the mortgage-backed securities will default or otherwise fail and that, during periods of falling interest rates, mortgage-backed securities will be called or prepaid, which may result in the Fund having to reinvest proceeds in other investments at a lower interest
- [CAPE -DCMB ETF Non-Diversification Risk](https://doubleline.com/disclosure/cape-etf-non-diversification-risk/): The fund is a “non-diversified” investment company and therefore may invest a greater percentage of its assets in the securities of a single issuer or a limited number of issuers than funds that are “diversified.” Accordingly, the fund is more susceptible to risks associated with a single economic, political or regulatory occurrence than a diversified
- [Morningstar LSTA Index Disclosure](https://doubleline.com/disclosure/morningstar-lsta-index-disclosure/): The DoubleLine Floating Rate Fund is not sponsored, endorsed, sold or promoted by Morningstar, Inc. or any of its affiliates (all such entities, collectively, “Morningstar Entities”) or the Loan Syndications and Trading Association (“LSTA”). The Morningstar Entities and LSTA make no representation or warranty, express or implied, to the owners of the DoubleLine Floating Rate
- [ViiV Disclosure (CAPE ETF)](https://doubleline.com/disclosure/viiv-disclosure-cape-etf/): The Verified Intraday Indicative Value (VIIV)Unlike traditional ETFs, the fund does not tell the public what assets it holds each day. Instead, the fund provides a verified intraday indicative value (VIIV), calculated and disseminated every second throughout the trading day by the fund’s listing exchange or by market data vendors or other information providers. For
- [Barclays Bank Disclosure - CAPE Int'l (Strategy)](https://doubleline.com/disclosure/copy-of-barclays-bank-disclosure-cape-intl-fund/): Barclays Bank PLC and its affiliates ("Barclays") is not the issuer or producer of DoubleLine Shiller Enhanced International CAPE® (the “Strategy”) and Barclays has no responsibilities, obligations or duties to investors in the Strategy. The Shiller Barclays CAPE® Europe Sector Index (the “Index”) is a trademark owned by Barclays Bank PLC and licensed for use
- [Barclays Bank Disclosure - CAPE (Strategy)](https://doubleline.com/disclosure/copy-of-barclays-bank-disclosure-cape-fund-3/): Barclays Bank PLC and its affiliates ("Barclays") is not the developer or implementer of the DoubleLine Shiller Enhanced CAPE® (the “Strategy”) and Barclays has no responsibilities, obligations or duties to investors in the Strategy. The Shiller Barclays CAPE® U.S. Sector USD Index (the “Index”) is a trademark owned by Barclays Bank PLC and licensed for
- [Barclays Bank Disclosure - CAPE ETF](https://doubleline.com/disclosure/copy-of-barclays-bank-disclosure-cape-fund-2/): Barclays Bank PLC and its affiliates (“Barclays”) is not the developer or implementer of the DoubleLine Shiller CAPE® U.S. Equities ETF (the “ETF”) and Barclays has no responsibilities, obligations or duties to investors in the ETF. The Shiller Barclays CAPE® US Sector USD Index (the “Index”) is a trademark owned by Barclays Bank PLC and
- [Barclays Bank Disclosure - CAPE Int'l (Fund)](https://doubleline.com/disclosure/copy-of-barclays-bank-disclosure-cape-fund/): Barclays Bank PLC and its affiliates ("Barclays") is not the issuer or producer of DoubleLine Shiller Enhanced International CAPE® (the “Fund”) and Barclays has no responsibilities, obligations or duties to investors in the Fund. The Shiller Barclays CAPE® Europe Sector Index (the “Index”) is a trademark owned by Barclays Bank PLC and licensed for use
- [Barclays Bank Disclosure - CAPE (Fund)](https://doubleline.com/disclosure/copy-of-barclays-bank-disclosure-real-estate-income-fund/): Barclays Bank PLC and its affiliates ("Barclays") is not the developer or implementer of the DoubleLine Shiller Enhanced CAPE® (the “Fund”) and Barclays has no responsibilities, obligations or duties to investors in the Fund. The Shiller Barclays CAPE® U.S. Sector USD Index (the “Index”) is a trademark owned by Barclays Bank PLC and licensed for
- [Investing in Foreign Securities](https://doubleline.com/disclosure/investing-in-foreign-securities/): The fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets.
- [Implementation Lag](https://doubleline.com/disclosure/implementation-lag/): Investment strategies may not achieve the desired results due to implementation lag, other timing factors, portfolio management decision-making, economic or market conditions or other unanticipated factors. In addition, the fund may invest in other asset classes and investments such as, among others, REITs, credit default swaps, short sales, derivatives, and smaller companies which include additional
- [Prospectus Language and MF Investing Language for Closed-End Mutual Funds](https://doubleline.com/disclosure/disclosure-1-2/): The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. You can obtain the fund’s most recent periodic reports and certain other regulatory filings by calling 877-DLINE11 (877-354-6311), or by downloading from the fund document library on this website. You should read these reports and other filings carefully before investing. Investments
- [ETF/ETN For Commodity and MAG](https://doubleline.com/disclosure/etf-etn-for-commodity-and-mag/): Investing in ETFs and/or ETNs involves additional risks such as the market price of the shares may trade at a discount to its net asset value ("NAV"), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a fund's
- [DL Alternatives LP Disclosure](https://doubleline.com/disclosure/dl-alternatives-lp-disclosure/): The information presented herein reflects the views of portfolio managers and/or other personnel associated with DoubleLine Alternatives LP as of the date recorded and is subject to change without notice. Their views do not necessarily reflect the views of DoubleLine Alternatives LP or any of its affiliates or related parties. No video, or statement therein, constitutes
- [Mutual fund investing involves risk](https://doubleline.com/disclosure/mutual-fund-investing-involves-risk/): Mutual fund investing involves risk. Principal loss is possible.
- [Floating Rate 1.00% Redemption Fee](https://doubleline.com/disclosure/floating-rate-1-00-redemption-fee/): The Floating Rate Fund imposes a 1.00% Redemption Fee on all share classes if shares are sold within 90 days of purchase. Performance data does not reflect the redemption fee. If it had, returns would be reduced.
- [Performance Information Shown](https://doubleline.com/disclosure/performance-information-shown/): The performance information shown assumes the reinvestment of all dividends and distributions. Returns of less than one year are not annualized. While the fund is no-load, management fees and other expenses still apply. Index returns reflect no deduction for fees, expenses or taxes. Please refer to the prospectus for further details.
- [Credit Quality Disclosure](https://doubleline.com/disclosure/credit-quality-disclosure/): Credit Distribution is determined from the highest available credit rating from any Nationally Recognized Statistical Rating Agency (NRSRO”, generally S&P, Moody’s, or Fitch) and is subject to change. DoubleLine chooses to display credit ratings using S&P’s rating convention, although the rating itself might be sourced from another NRSRO. The firm evaluates a bond issuer’s financial
- [Leverage](https://doubleline.com/disclosure/leverage/): The fund may use leverage which may cause the effect of an increase or decrease in the value of the portfolio securities to be magnified and the Fund to be more volatile than if leverage was not used.
- [Commodities Disclosure](https://doubleline.com/disclosure/commodities-disclosure/): Investments in commodities or commodity-related instruments may subject the fund to greater risks and volatility as commodity prices may be influenced by a variety of factors including unfavorable weather, environmental factors, and changes in government regulations.
- [Non-Widely Used Indexes](https://doubleline.com/disclosure/non-widely-used-indexes/): Any index used by the fund may not be widely used and information regarding its components and/or its methodology may not generally be known to industry participants, it may be more difficult for the fund to find willing counterparties to engage in total or excess return swaps or other derivative instruments based on the return
- [Non-Diversification Disclosure](https://doubleline.com/disclosure/non-diversification-disclosure/): The fund is non-diversified meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the fund is more exposed to individual stock volatility than a diversified fund.
- [Infrastructure Disclosure](https://doubleline.com/disclosure/infrastructure-disclosure/): The value of the fund's infrastructure investments may be entirely dependent upon the successful development, construction, maintenance, renovation, enhancement or operation of infrastructure-related projects. Accordingly, the fund has significant exposure to adverse economic, regulatory, political, legal, demographic, environmental, and other developments affecting the success of the infrastructure investments in which it directly or indirectly invests.
- [Sector Allocations/Holdings Disclosure](https://doubleline.com/disclosure/sector-allocations-holdings-disclosure/): Sector allocations and fund holdings are subject to change at any time and should not be considered a recommendation to buy or sell any security. Portfolio holdings generally are made available 30 days after month-end by visiting www.doubleline.com. The source for the information in this report is DoubleLine Capital, which maintains its data on a
- [Digital Bridge Disclosure (Real Estate and Income Fund)](https://doubleline.com/disclosure/digital-bridge-disclosure/): The DigitalBridge Fundamental US Real Estate Index (the “Index”) has been licensed by Barclays for use by DoubleLine Alternatives LP. DigitalBridge is a registered trademark of DigitalBridge Operating Company, LLC. or its affiliates and has been sub-licensed for use for certain purposes by DoubleLine Alternatives LP. DoubleLine Real Estate and Income Fund (the “Fund”) is not sponsored, endorsed,
- [Barclays Bank Disclosure - Real Estate & Income Fund](https://doubleline.com/disclosure/barclays-bank-disclosure/): © Barclays Bank PLC, its wholly-owned subsidiary ©Barclays Capital Inc. or an affiliate (collectively “Barclays”) owns the intellectual property and licensing rights in and to the Colony Capital Fundamental US Real Estate Index (the “Index”) and either entity may act as licensor of the Index. All rights reserved. Neither Barclays nor the Index Sponsor, as
- [Investing in Real Estate](https://doubleline.com/disclosure/investing-in-real-estate/): The fund may also invest in securities related to real estate, which may decline in value as a result of factors affecting the real estate industry. Investments in foreign securities include the risk that the fund’s investments will be affected by political, regulatory, and economic risks not present in domestic investments.
- [Junk Bonds (DLY)](https://doubleline.com/disclosure/junk-bonds-dly/): An investment in the fund involves certain risks arising from, among other things, the fund’s ability to invest without limit in debt securities that are at the time of investment rated below investment grade or unrated securities judged by DoubleLine to be of comparable quality (a category of investment that includes securities commonly referred to
- [CAPE U.S. Equities ETF Precidian Language](https://doubleline.com/disclosure/cape-u-s-equities-etf-precidian-language/): This ETF is different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. This ETF will not. This may create additional risks for your investment. For example:• You may have to pay more money to trade the ETF’s shares. This ETF will provide less information to traders, who tend to
- [CAPE ETF Unique Attributes and Risks](https://doubleline.com/disclosure/cape-etf-unique-attributes/): For additional information regarding the unique attributes and risks of the ETF, see the Prospectus and SAI, which are available on this website.
- [Equities Disclosure (CAPE; CAPE Int'l, CAPE ETF)](https://doubleline.com/disclosure/equities-disclosure-cape-cape-int/): Equities may decline in value due to both real and perceived general market, economic and industry conditions.
- [Prospectus Language and MF Investing Language for Open-End Mutual Funds](https://doubleline.com/disclosure/disclosure-1/): The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus contain this and other important information about the investment company and may be obtained by calling (877) 354-6311 / (877) DLINE11, or downloading from the fund document library on this website. Read them carefully before investing.
- [General Closed-End Fund Risks](https://doubleline.com/disclosure/general-closed-end-fund-risks/): Investing involves risk. Principal loss is possible. Closed-end funds (CEF) do not continuously offer shares for sale as open-end mutual funds do. The shares trade on a secondary market after the initial public offering. Investor who wish to buy or sell fund shares of a CEF need to place order through an intermediary, or broker,
- [Emerging Markets Additional Volatility](https://doubleline.com/disclosure/emerging-markets-additional-volatility/): Investing in emerging markets has more risk such as increased volatility, relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries and securities markets that are substantially smaller, less liquid and more volatile with less government oversight than more developed countries.
- [Excess Return Swaps (CAPE)](https://doubleline.com/disclosure/excess-return-swaps-cape/): The fund achieves its equity index-related returns primarily through the use of excess return swaps. The fund is entitled to receive the approximate return of the equity index under the terms of the swap, subtracted by the costs of the swap (e.g., short term financing costs.)
- [Past Performance Disclosure](https://doubleline.com/disclosure/past-performance-disclosure/): Past performance does not guarantee future results. Mutual fund investing involves risk. Principal loss is possible.
- [Diversification Disclosure](https://doubleline.com/disclosure/diversification-disclosure/): Diversification does not assure a profit nor protect against loss in a declining market.
- [Short Sale](https://doubleline.com/disclosure/short-sale/): The fund may make short sales of securities, which involves the risk that losses may exceed the original amount invested.
- [Investments in Lower-Rated and Non-Rated Securities](https://doubleline.com/disclosure/investments-in-lower-rated-and-non-rated-securities/): Investments in lower-rated and non-rated securities present a greater risk of loss to principal and interest than higher-rated securities.
- [Investments in Debt Securities](https://doubleline.com/disclosure/investments-in-debt-securities/): Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.
- [Investments in ABS and Mortgage-Backed Securities](https://doubleline.com/disclosure/investments-in-abs-and-mbs/): Investments in ABS and MBS include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments.

## Awards

- [Top Asset Management Fixed Income Investment Firm](https://doubleline.com/award/top-asset-management-fixed-income-investment-firm/)
- [Financial Business Outlook: Money Management Platform of the Year](https://doubleline.com/award/financial-business-outlook-money-management-platform-of-the-year/)
- [Lipper Fund Awards from Refinitiv U.S., 2019: DoubleLine Shiller Enhanced CAPE® Best Large Cap Value Funds Over 5 Years](https://doubleline.com/award/lipper-fund-awards-from-refinitiv-2019-u-s-doubleline-shiller-enhanced-cape-best-large-cap-value-funds-over-5-years/)
- [Lipper Fund Awards from Refinitiv U.S., 2019: DoubleLine Shiller Enhanced CAPE® Best Large-Cap Value Fund Over 3 Years](https://doubleline.com/award/doubleline-shiller-cape-named-refinitiv-lipper-best-large-cap-value-fund-over-3-years/): Ranked 1 out of 106 Funds in the Large-Cap Value Category (the “Category”) for 2017 on 3/27/2017. Ranked 1 out of 107 in the Category for 2018 on 4/5/2018. Ranked 1 out of 108 Funds in the Category for 2019 on 3/1/2019. Ranked 1 out of 105 Funds in the Category for 2020 on 3/1/2020.
- [DoubleLine Shiller Enhanced CAPE® Best Large Cap Value Fund Over 3 Years](https://doubleline.com/award/doubleline-shiller-enhanced-cape-best-large-cap-value-fund-over-3-years/)
- [DoubleLine Shiller Enhanced CAPE® Best Large Cap Value Fund Over 5 Years](https://doubleline.com/award/doubleline-shiller-enhanced-cape-best-large-cap-value-fund-over-5-years/)
- [LSEG Lipper Fund Awards U.S., 2024: DoubleLine Low Duration Emerging Markets Fixed Income; Best Fund Over 3 Years Emerging Markets Hard Currency](https://doubleline.com/award/lseg-lipper-fund-awards-united-states-best-em-currency-over-3-years/): LSEG Lipper Fund AwardsBest Emerging Markets Hard Currency Fund Over 3 Years; 2024; Announced: 3/14/2024; for the 36 months through the end of November of the respective evaluation year; Compensation was not provided to receive or use the award. The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which
- [Refinitiv Lipper Fund Awards U.S., 2022: DoubleLine Shiller Enhanced CAPE® Best Large Cap Value Fund Over 5 Years](https://doubleline.com/award/refinitiv-lipper-fund-awards-united-states-best-large-cap-value-fund-over-5-years/): Refinitiv Lipper Fund AwardsDoubleLine Shiller Enhanced CAPE® Best Large Cap Value Fund Over 5 Years; 2022; Announced: 3/11/2022; for the 60 months through the end of November of the respective evaluation year; Compensation was not provided to receive or use the award.; Method: The Refinitiv Lipper Fund Awards are based on the Lipper Leader for
- [Refinitiv Lipper Fund Awards U.S., 2021: DoubleLine Shiller Enhanced CAPE® Best Large Cap Value Fund Over 5 Years](https://doubleline.com/award/refinitiv-lipper-fund-awards-us-2021-doubleline-shiller-enhanced-cape-best-large-cap-value-fund-over-5-years/): Refinitiv Lipper Fund AwardsDoubleLine Shiller Enhanced CAPE® Best Large Cap Value Fund Over 5 Years; 2021; Announced: 3/13/2021; for the 60 months through the end of November of the respective evaluation year; Compensation was not provided to receive or use the award.; Method: The Refinitiv Lipper Fund Awards are based on the Lipper Leader for
- [Refinitiv Lipper Fund Awards U.S., 2021: DoubleLine Shiller Enhanced CAPE® Best Large Cap Value Fund Over 3 Years](https://doubleline.com/award/refinitiv-lipper-fund-awards-us-2021-doubleline-shiller-enhanced-cape-best-large-cap-value-fund-over-3-years/): Refinitiv Lipper Fund AwardsDoubleLine Shiller Enhanced CAPE® Best Large Cap Value Fund Over 3 Years; 2021; Announced: 3/12/2021; for the 36 months through the end of November of the respective evaluation year; Compensation was not provided to receive or use the award.; Method: The Refinitiv Lipper Fund Awards are based on the Lipper Leader for
- [Thompson Reuters Lipper Fund Awards U.S., 2018: DoubleLine Shiller Enhanced CAPE® Best Large Cap Value Fund Over 3 Years](https://doubleline.com/award/thompson-reuters-lipper-fund-awards-us-2018-doubleline-shiller-enhanced-cape-best-large-cap-value-fund-over-3-years/)
- [Lipper Fund Awards U.S., 2017: DoubleLine Shiller Enhanced CAPE® Best Large Cap Value Fund Over 3 Years](https://doubleline.com/award/lipper-fund-awards-united-states-2017-doubleline-shiller-enhanced-cape-best-large-cap-value-fund-over-3-years/)
- [Financial Advisor IQ Service Award - Audio/Video Content](https://doubleline.com/award/financial-advisor-iq-service-award-audio-video-content/)
- [Financial Advisor IQ Service Award - Best Content and Commentary: Audio / Video Content](https://doubleline.com/award/financial-advisor-iq-service-award-asset-managers-best-content-and-commentary-audio-video/): Now in their 3rd year, the FA-IQ Service Awards are based on the votes of financial advisors who participated in an an online survey in April, May and June. In all, 742 advisors voted in 2022. Respondents represented multiple channels: 61% came from broker-dealers (including 40% from independent and regional BDs, and 19% from wirehouses),
- [Financial Advisor IQ Service Award - Best Content and Commentary: Macro Commentary](https://doubleline.com/award/financial-advisor-iq-service-award-asset-managers-best-content-and-commentary-macro-commentary/): Now in their 3rd year, the FA-IQ Service Awards are based on the votes of financial advisors who participated in an an online survey in April, May and June. In all, 742 advisors voted in 2022. Respondents represented multiple channels: 61% came from broker-dealers (including 40% from independent and regional BDs, and 19% from wirehouses),
- [Financial Advisor IQ Service Award - Best Content and Commentary: Portfolio Managers' Letters](https://doubleline.com/award/financial-advisor-iq-service-award-pmletters/): Now in their 3rd year, the FA-IQ Service Awards are based on the votes of financial advisors who participated in an an online survey in April, May and June. In all, 742 advisors voted in 2022. Respondents represented multiple channels: 61% came from broker-dealers (including 40% from independent and regional BDs, and 19% from wirehouses),
- [ETF Express: U.S. ETF Awards Best Active ETF issuer ($100m - $1 bn)](https://doubleline.com/award/etf-express-best-active-etf-issuer-100mn-1bn/): The Best Active ETF Issuer Award Methodology: For each category, all of an issuer’s ETFs in that specific asset class category or grouping are combined to give a total assets under management figure. Shortlist nominations are based on the percentage change in the issuers’ assets under management in each category over a 12-month period within
- [Jeffrey Gundlach - Morningstar: "Nominee for Fixed Income Manager of the Decade"](https://doubleline.com/award/jeffrey-gundlach-morningstar-nominee-for-fixed-income-manager-of-the-decade/): Manager of the Decade award considers the risks assumed to achieve those results and takes into account the strength of the manager, strategy and firm’s stewardship.
- [Asian G3 Bond Benchmark Review - Top Investment House, U.S. Asset Manager](https://doubleline.com/award/2021-asian-g3-bond-award-us-asset-mgr/): DoubleLine Capital, Top Investment House, Asset Manager, US, Rank 2 Su Fei Koo (DoubleLine Capital), Most Astute Investor, US, Rank 3 Mark Christensen (DoubleLine Capital), Most Astute Investor, US, Highly commended
- [Asian G3 Bond Benchmark Review - Top Investment House, U.S. Asset Manager](https://doubleline.com/award/2023-asian-g3-bond-benchmark-review-top-investment-house-us-asset-manager/)

## Mutual Funds 

- [Mutual Funds](https://doubleline.com/mutual-funds/): DoubleLine's mutual fund lineup offers multiple products with varying levels of volatility and asset types that can help investors pursue their investment objectives. With decades of research and active management experience behind every portfolio management team, our clients benefit from our expertise within and across a spectrum of asset classes and investment styles. Download a complete overview of DoubleLine’s Fund Offerings by clicking here.
- [Fixed Income](https://doubleline.com/mutual-funds/)
- [Equities + Multi-Asset](https://doubleline.com/mutual-funds/)
- [International Fixed Income](https://doubleline.com/mutual-funds/)
- [Commodities](https://doubleline.com/mutual-funds/)

## Closed End Funds

- [Closed-End Funds](https://doubleline.com/closed-end-funds/): DoubleLine’s closed-end funds are multi-sector and may offer the potential for higher regular income than traditional open-ended mutual funds. Download a complete overview of DoubleLine’s Fund Offerings by clicking here
- [Income Solutions Fund](https://doubleline.com/closed-end-funds/)
- [Opportunistic Credit Fund](https://doubleline.com/closed-end-funds/)
- [Yield Opportunities Fund](https://doubleline.com/closed-end-funds/)

## Exchange-Traded Funds

- [Exchange-Traded Funds](https://doubleline.com/exchange-traded-funds/): DoubleLine's exchange-traded fund business is a natural extension of our existing business lines, giving investors another vehicle to access our investment services and expertise. Download DoubleLine's ETF Overview. Download DoubleLine’s Fund Offerings.
- [Fixed Income](https://doubleline.com/exchange-traded-funds/)
- [Equities](https://doubleline.com/exchange-traded-funds/)
- [Commodities](https://doubleline.com/exchange-traded-funds/)

## Document Types

- [Fund Document Library](https://doubleline.com/documents/fund-document-library/)
- [Strategy Documents](https://doubleline.com/documents/strategy-documents/)
- [Prospectuses and SAI](https://doubleline.com/documents/prospectus/)
- [Fund Holdings](https://doubleline.com/documents/fund-holdings/)
- [Dividends and Capital Gains](https://doubleline.com/documents/dividends-and-capital-gains/)
- [Tax-Related](https://doubleline.com/documents/tax-related/)
- [Corporate](https://doubleline.com/documents/corporate/)
- [Fact Sheets](https://doubleline.com/documents/fact-sheets/)
- [Fund Performance](https://doubleline.com/documents/fund-performance/)
- [Schedule of Investments](https://doubleline.com/documents/schedule-of-investments/)
- [Reports and Disclosures](https://doubleline.com/documents/reports-and-disclosures/)
- [fund](https://doubleline.com/documents/fund/)
- [Individual Retirement Accounts (IRA)](https://doubleline.com/documents/individual-retirement-accounts-ira/)
- [Account Forms](https://doubleline.com/documents/account-forms/)
- [Mutual Fund Applications](https://doubleline.com/documents/mutual-fund-applications/)
- [Cash Flow](https://doubleline.com/documents/cash-flow/)