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Is DoubleLine Shiller Enhanced CAPE I (DSEEX) a Strong Mutual Fund Pick Right Now?
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Any investors hoping to find a Mutual Fund Equity Report fund could think about starting with DoubleLine Shiller Enhanced CAPE I (DSEEX - Free Report) . DSEEX possesses a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
DSEEX is a part of the Double Line family of funds, a company based out of Los Angeles, CA. DoubleLine Shiller Enhanced CAPE I made its debut in October of 2013, and since then, DSEEX has accumulated about $5.72 billion in assets, per the most up-to-date date available. Jeffrey Sherman is the fund's current manager and has held that role since October of 2013.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. DSEEX has a 5-year annualized total return of 10.32% and is in the middle third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 9.66%, which places it in the bottom third during this time-frame.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. DSEEX's standard deviation over the past three years is 23.66% compared to the category average of 17.52%. Looking at the past 5 years, the fund's standard deviation is 20.64% compared to the category average of 15.72%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1.13, the fund is likely to be more volatile than the market average. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. The fund has produced a negative alpha over the past 5 years of -2.25, which shows that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, DSEEX is a no load fund. It has an expense ratio of 0.53% compared to the category average of 0.92%. So, DSEEX is actually cheaper than its peers from a cost perspective.
Investors should also note that the minimum initial investment for the product is $100,000 and that each subsequent investment needs to be at $100.
Bottom Line
Overall, DoubleLine Shiller Enhanced CAPE I ( DSEEX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, this fund looks like a somewhat average choice for investors right now.
For additional information on this product, or to compare it to other mutual funds in the Mutual Fund Equity Report, make sure to go to www.zacks.com/funds/mutual-funds for additional information. For analysis of the rest of your portfolio, make sure to visit Zacks.com for our full suite of tools which will help you investigate all of your stocks and funds in one place.
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Is DoubleLine Shiller Enhanced CAPE I (DSEEX) a Strong Mutual Fund Pick Right Now?
Any investors hoping to find a Mutual Fund Equity Report fund could think about starting with DoubleLine Shiller Enhanced CAPE I (DSEEX - Free Report) . DSEEX possesses a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
DSEEX is a part of the Double Line family of funds, a company based out of Los Angeles, CA. DoubleLine Shiller Enhanced CAPE I made its debut in October of 2013, and since then, DSEEX has accumulated about $5.72 billion in assets, per the most up-to-date date available. Jeffrey Sherman is the fund's current manager and has held that role since October of 2013.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. DSEEX has a 5-year annualized total return of 10.32% and is in the middle third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 9.66%, which places it in the bottom third during this time-frame.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. DSEEX's standard deviation over the past three years is 23.66% compared to the category average of 17.52%. Looking at the past 5 years, the fund's standard deviation is 20.64% compared to the category average of 15.72%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1.13, the fund is likely to be more volatile than the market average. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. The fund has produced a negative alpha over the past 5 years of -2.25, which shows that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, DSEEX is a no load fund. It has an expense ratio of 0.53% compared to the category average of 0.92%. So, DSEEX is actually cheaper than its peers from a cost perspective.
Investors should also note that the minimum initial investment for the product is $100,000 and that each subsequent investment needs to be at $100.
Bottom Line
Overall, DoubleLine Shiller Enhanced CAPE I ( DSEEX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, this fund looks like a somewhat average choice for investors right now.
For additional information on this product, or to compare it to other mutual funds in the Mutual Fund Equity Report, make sure to go to www.zacks.com/funds/mutual-funds for additional information. For analysis of the rest of your portfolio, make sure to visit Zacks.com for our full suite of tools which will help you investigate all of your stocks and funds in one place.