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Trending ETFs

DoubleLine Emerging Markets Fixed Income Fund

mutual fund
DLENX
Payout Change
Pending
Price as of:
$9.02 -0.01 -0.11%
primary theme
Emerging Markets Bond
share class
N (DLENX) I (DBLEX)
DLENX (Mutual Fund)

DoubleLine Emerging Markets Fixed Income Fund

Payout Change
Pending
Price as of:
$9.02 -0.01 -0.11%
primary theme
Emerging Markets Bond
share class
N (DLENX) I (DBLEX)
DLENX (Mutual Fund)

DoubleLine Emerging Markets Fixed Income Fund

Payout Change
Pending
Price as of:
$9.02 -0.01 -0.11%
primary theme
Emerging Markets Bond
share class
N (DLENX) I (DBLEX)

Name

As of 12/13/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

DoubleLine Emerging Markets Fixed Income Fund

DLENX | Fund

$9.02

$447 M

5.23%

$0.47

1.18%

Vitals

YTD Return

9.3%

1 yr return

10.0%

3 Yr Avg Return

0.1%

5 Yr Avg Return

1.5%

Net Assets

$447 M

Holdings in Top 10

20.0%

52 WEEK LOW AND HIGH

$9.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.18%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 51.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,000

IRA

$500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/13/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

DoubleLine Emerging Markets Fixed Income Fund

DLENX | Fund

$9.02

$447 M

5.23%

$0.47

1.18%

DLENX - Profile

Distributions

  • YTD Total Return 9.3%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.51%
DIVIDENDS
  • Dividend Yield 5.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    DoubleLine Emerging Markets Fixed Income Fund
  • Fund Family Name
    DoubleLine Funds
  • Inception Date
    Apr 06, 2010
  • Shares Outstanding
    3872622
  • Share Class
    N
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Luz Padilla

Fund Description

Under normal circumstances, the Fund intends to invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in fixed income instruments. These fixed income instruments include but are not limited to securities (including hybrid securities) issued or guaranteed by companies, financial institutions and government entities in emerging market countries and other securities bearing fixed or variable interest rates of any maturity. The Fund will generally invest in at least four emerging market countries.
An “emerging market country” is a country that, at the time the Fund invests in the related fixed income instruments, is classified as an emerging or developing economy by any supranational organization such as an institution in the World Bank Group or the United Nations, or an agency thereof, or is considered an emerging market country for purposes of constructing a major emerging market securities index.
The Fund may invest, without limitation, in fixed income instruments of any credit quality, including those that at the time of investment are unrated or rated BB+ or lower by S&P Global Ratings or Ba1 or lower by Moody’s Investors Service, Inc. or the equivalent by any other nationally recognized statistical rating organization. Corporate bonds and certain other fixed income instruments rated below investment grade, or such instruments that are unrated and determined by DoubleLine Capital LP (the “Adviser” or “DoubleLine Capital”) to be of comparable quality, are high yield, high risk bonds, commonly known as “junk bonds.” The Fund may invest in hybrid securities relating to emerging market countries.
The Fund may invest up to 20% of its net assets in defaulted corporate securities. The Fund might do so, for example, where the portfolio managers believe the restructured enterprise valuations or liquidation valuations may exceed current market values. In addition, the Fund may invest in defaulted sovereign investments, including, for example, where the portfolio managers believe the expected debt sustainability of the country is not reflected in current market valuations. The Fund may invest in derivatives and other instruments, such as options, swaps (including credit default swaps), futures, structured investments, foreign currency futures and forward contracts. These practices may be used to hedge the Fund’s portfolio as well as for investment purposes; however, such practices sometimes may reduce returns or increase volatility.
The Fund may invest in fixed and floating rate loans of any kind (including, among others, bank loans, assignments, participations, subordinated loans, debtor‑in‑possession loans, exit facilities, delayed funding loans and revolving credit facilities) and other securities bearing fixed or variable interest rates of any maturity.
In allocating investments among various emerging market countries, the portfolio managers attempt to analyze internal political, market and economic factors. These factors may include:
•
public finances;
•
monetary policy;
•
external accounts;
•
financial markets;
•
foreign investment regulations;
•
stability of exchange rate policy; and
•
labor conditions.
The Adviser monitors the duration of the Fund’s portfolio securities to seek to assess and, in its discretion, adjust the Fund’s exposure to interest rate risk. In managing the Fund’s investments, under normal market conditions, the portfolio managers intend to seek to construct an investment portfolio with a dollar-weighted average effective duration of no less than two years
and no more than eight years. Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a security’s price to changes in interest rates. Effective duration is a measure of the Fund’s portfolio duration adjusted for the anticipated effect of interest rate changes on bond and mortgage prepayment rates as determined by the Adviser. The effective duration of the Fund’s investment portfolio may vary materially from its target range, from time to time, and there is no assurance that the effective duration of the Fund’s investment portfolio will always be within its target range.
The Fund may invest without limit in investments denominated in any currency, including securities denominated in the local currencies of an emerging market, but currently expects to invest a substantial amount of its assets in investments denominated in the U.S. dollar.
The Fund may pursue its investment objective and obtain exposures to some or all of the asset classes described above by investing in other investment companies, including, for example, other open‑end or closed‑end investment companies and ETFs, including investment companies sponsored or managed by the Adviser or its related parties. The amount of the Fund’s investment in certain investment companies may be limited by law or by tax considerations.
Portfolio securities may be sold at any time. By way of example, sales may occur when the Fund’s portfolio managers perceive deterioration in the credit fundamentals of the issuer, when the portfolio managers believe there are negative macro geo‑political considerations that may affect the issuer, when the portfolio managers determine to take advantage of a better investment opportunity, or when the individual security has reached the portfolio managers’ sell target.
Read More

DLENX - Performance

Return Ranking - Trailing

Period DLENX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.3% -4.8% 463.5% 19.80%
1 Yr 10.0% -3.2% 480.4% 31.06%
3 Yr 0.1%* -7.5% 59.2% 67.14%
5 Yr 1.5%* -7.3% 29.2% 26.30%
10 Yr 3.2%* -4.4% 14.7% 27.72%

* Annualized

Return Ranking - Calendar

Period DLENX Return Category Return Low Category Return High Rank in Category (%)
2023 3.6% -10.6% 17.8% 70.99%
2022 -19.1% -29.1% -2.4% 57.95%
2021 -2.0% -24.0% 2.7% 3.58%
2020 0.2% -14.0% 9.7% 62.22%
2019 6.7% -6.4% 13.0% 69.55%

Total Return Ranking - Trailing

Period DLENX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.3% -4.8% 463.5% 19.80%
1 Yr 10.0% -3.2% 480.4% 31.06%
3 Yr 0.1%* -7.5% 59.2% 67.14%
5 Yr 1.5%* -7.3% 29.2% 26.30%
10 Yr 3.2%* -4.4% 14.7% 27.72%

* Annualized

Total Return Ranking - Calendar

Period DLENX Return Category Return Low Category Return High Rank in Category (%)
2023 9.8% -0.6% 20.0% 78.84%
2022 -15.5% -27.6% -1.7% 69.26%
2021 2.0% -18.5% 7.4% 3.23%
2020 5.0% -7.8% 18.0% 52.96%
2019 11.9% -3.0% 23.0% 71.80%

NAV & Total Return History

DLENX - Holdings

Concentration Analysis

DLENX Category Low Category High DLENX % Rank
Net Assets 447 M 565 K 14.8 B 41.64%
Number of Holdings 152 4 1860 80.89%
Net Assets in Top 10 90.9 M -134 M 1.25 B 38.91%
Weighting of Top 10 20.03% 5.8% 102.5% 40.34%

Top 10 Holdings

  1. Banco Internacional del Peru SAA Interbank 2.64%
  2. Guara Norte Sarl 2.34%
  3. Oversea-Chinese Banking Corp Ltd 2.01%
  4. Bancolombia SA 1.99%
  5. Network i2i Ltd 1.98%
  6. Chile Electricity PEC SpA 1.94%
  7. Mexico Government International Bond 1.87%
  8. Panama Government International Bond 1.81%
  9. Prumo Participacoes e Investimentos S/A 1.73%
  10. Cia de Minas Buenaventura SAA 1.73%

Asset Allocation

Weighting Return Low Return High DLENX % Rank
Bonds 		98.78% 0.00% 100.50% 7.17%
Convertible Bonds 		4.30% 0.00% 8.47% 1.38%
Cash 		1.22% 0.00% 29.76% 89.76%
Stocks 		0.00% -0.01% 96.78% 84.98%
Preferred Stocks 		0.00% 0.00% 2.24% 74.40%
Other 		0.00% -10.15% 91.74% 58.36%

Bond Sector Breakdown

Weighting Return Low Return High DLENX % Rank
Corporate 		60.16% 0.00% 91.26% 14.48%
Government 		39.82% 0.00% 99.79% 81.38%
Cash & Equivalents 		0.84% 0.00% 23.23% 66.55%
Derivative 		0.00% -1.67% 13.76% 50.85%
Securitized 		0.00% 0.00% 2.41% 79.31%
Municipal 		0.00% 0.00% 0.00% 73.79%

Bond Geographic Breakdown

Weighting Return Low Return High DLENX % Rank
US 		98.78% -42.31% 99.16% 2.05%
Non US 		0.00% 0.00% 132.49% 93.86%

DLENX - Expenses

Operational Fees

DLENX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.18% 0.02% 32.92% 54.79%
Management Fee 0.75% 0.00% 1.10% 72.01%
12b-1 Fee 0.25% 0.00% 1.00% 44.44%
Administrative Fee N/A 0.02% 0.65% N/A

Sales Fees

DLENX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

DLENX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% N/A

Related Fees

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

DLENX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 51.00% 0.00% 218.00% 37.50%

DLENX - Distributions

Dividend Yield Analysis

DLENX Category Low Category High DLENX % Rank
Dividend Yield 5.23% 0.00% 22.22% 49.83%

Dividend Distribution Analysis

DLENX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

DLENX Category Low Category High DLENX % Rank
Net Income Ratio 3.51% -2.28% 8.00% 76.92%

Capital Gain Distribution Analysis

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

Distributions History

View More +

DLENX - Fund Manager Analysis

Managers

Luz Padilla

Start Date

Tenure

Tenure Rank

Apr 06, 2010

12.16

12.2%

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

Mark Christensen

Start Date

Tenure

Tenure Rank

Dec 01, 2015

6.5

6.5%

Mr. Christensen joined DoubleLine Capital LP in 2009 as a Portfolio Manager, Co-Portfolio Manager, Senior Credit Analyst and Head of Emerging Markets Corporate Research. As part of his research responsibilities, he covers corporate credits in the following sectors: telecommunications, media, aerospace, banking, pulp & paper, chemical, petroleum refining, infrastructure, gaming and retail. Prior to DoubleLine, he was a Managing Director associated with TCW since 1991, where he had been involved in building and managing TCW emerging markets fixed income business, including trading, marketing, and credit research, and portfolio management. Mr. Christensen graduated from Brigham Young University with a BS in Business Management with an emphasis in International Finance.

Su Koo

Start Date

Tenure

Tenure Rank

Dec 01, 2015

6.5

6.5%

Ms. Koo joined DoubleLine in 2009 as Portfolio Manager and Senior Credit Analyst. As part of her research responsibilities, she specializes in the analysis of corporate credits in the sectors of oil & gas, utilities, metals & mining, conglomerates, technology, transportation, and real estate. Prior to DoubleLine, she was a Senior Vice President associated with TCW since 1998. In addition to credit analysis, she was involved in marketing and since 2006 performed increasing portfolio management duties. Previously, Ms. Koo was an Assistant Treasurer at Société Générale involved in Corporate Finance. Prior to that, she was an Assistant Vice President with Bank of America in the Financial Institution Group. Ms. Koo holds a BS in Business Administration from the University of Houston and an MBA in Finance from the University of Southern California.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.15 23.87 6.5 6.11

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