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If you have been looking for Mutual Fund Bond funds, it would not be wise to start your search with DoubleLine Total Return Bond N (DLTNX - Free Report) . DLTNX carries a Zacks Mutual Fund Rank of 4 (Sell), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
DLTNX is a part of the Double Line family of funds, a company based out of Los Angeles, CA. Since DoubleLine Total Return Bond N made its debut in April of 2010, DLTNX has garnered more than $5.24 billion in assets. The fund is currently managed by a team of investment professionals.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund carries a 5-year annualized total return of -0.11%, and is in the bottom third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3-year annualized total return of -3.82%, 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. DLTNX's standard deviation over the past three years is 5.57% compared to the category average of 13.8%. The fund's standard deviation over the past 5 years is 4.72% compared to the category average of 12.04%. This makes the fund less volatile than its peers over the past half-decade.
This fund has a beta of 0.71, meaning that it is less volatile than a broad market index of fixed income securities. Taking this into account, DLTNX has a negative alpha of -0.8, which measures performance on a risk-adjusted basis.
Ratings
Investors should also consider a bond's rating, which is a grade ( 'AAA' to 'D' ) given to a bond that indicates its credit quality. With this letter scale in mind, DLTNX has 64.96% in high quality bonds rated at least 'AA' or higher. The fund has an average quality of AA, and focuses on high quality securities.
Expenses
Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, DLTNX is a no load fund. It has an expense ratio of 0.74% compared to the category average of 0.77%. DLTNX is actually cheaper than its peers when you consider factors like cost.
This fund requires a minimum initial investment of $2,000, and each subsequent investment should be at least $100.
Bottom Line
Overall, DoubleLine Total Return Bond N ( DLTNX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, better downside risk, and lower fees, this fund looks like a somewhat weak choice for investors right now.
This could just be the start of your research on DLTNXin the Mutual Fund Bond category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.
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Is DLTNX a Strong Bond Fund Right Now?
If you have been looking for Mutual Fund Bond funds, it would not be wise to start your search with DoubleLine Total Return Bond N (DLTNX - Free Report) . DLTNX carries a Zacks Mutual Fund Rank of 4 (Sell), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
DLTNX is a part of the Double Line family of funds, a company based out of Los Angeles, CA. Since DoubleLine Total Return Bond N made its debut in April of 2010, DLTNX has garnered more than $5.24 billion in assets. The fund is currently managed by a team of investment professionals.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund carries a 5-year annualized total return of -0.11%, and is in the bottom third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3-year annualized total return of -3.82%, 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. DLTNX's standard deviation over the past three years is 5.57% compared to the category average of 13.8%. The fund's standard deviation over the past 5 years is 4.72% compared to the category average of 12.04%. This makes the fund less volatile than its peers over the past half-decade.
This fund has a beta of 0.71, meaning that it is less volatile than a broad market index of fixed income securities. Taking this into account, DLTNX has a negative alpha of -0.8, which measures performance on a risk-adjusted basis.
Ratings
Investors should also consider a bond's rating, which is a grade ( 'AAA' to 'D' ) given to a bond that indicates its credit quality. With this letter scale in mind, DLTNX has 64.96% in high quality bonds rated at least 'AA' or higher. The fund has an average quality of AA, and focuses on high quality securities.
Expenses
Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, DLTNX is a no load fund. It has an expense ratio of 0.74% compared to the category average of 0.77%. DLTNX is actually cheaper than its peers when you consider factors like cost.
This fund requires a minimum initial investment of $2,000, and each subsequent investment should be at least $100.
Bottom Line
Overall, DoubleLine Total Return Bond N ( DLTNX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, better downside risk, and lower fees, this fund looks like a somewhat weak choice for investors right now.
This could just be the start of your research on DLTNXin the Mutual Fund Bond category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.