DoubleLine Total Return Bond Fund
DoubleLine Funds Trust · Series S000028163 · 4 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2025 Q4
The Funds investment objective is to seek to maximize total return.
The fund invests primarily in mortgage-backed securities and U.S. Treasury obligations rated investment grade or higher, along with other fixed income instruments, and employs duration management through derivatives to maintain a portfolio effective duration between one and eight years. The fund may invest up to one-third of assets in below-investment-grade bonds, bank loans, and credit derivatives, and may use leverage, short sales, and other derivatives to adjust duration or gain long or short exposures. Because the fund's effective duration may vary materially from its target range, portfolio returns will fluctuate with interest rate movements and mortgage prepayment behavior in ways the duration target may not fully capture.
| Share class | Expense ratio |
|---|---|
| DBLTX | 0.50% |
| DLTNX | 0.75% |
| DDTRX | 0.43% |
| DLTIX | 0.55% |
Portfolio turnover 33.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Securitized | 92.64% |
| Bonds | 5.56% |
| Cash & short-term | 2.02% |
| Stocks | 0.66% |
| Derivatives | 0.17% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: DREYFUS GOVT CASH MGMT-I, NORTHERN INSTITUTIONAL FUNDS, DOUBLELINE CAPITAL LP, BOARD OF TRADE OF THE CITY OF CHICAGO, INC., FEDERAL HOME LOAN MORTGAGE CORP, VIBRANT CLO LTD, FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD, Federal National Mortgage Association
Largest exited: First American Government Obli, JPMorgan US Government Money M, Fannie Mae ×5, Bridge Street CLO
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +4.49% | +12.91% | +3.74% | 3.78% | -6.70% | |
| +4.11% | +12.03% | +2.28% | 3.79% | -6.83% | |
| +4.55% | +13.08% | +4.02% | 3.70% | -6.68% | |
| — | — | — | — | — |
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 61.8% |
| Floating rate | 37.4% |
| Zero-coupon or unclassified | 0.8% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.7% |
| 1-3y | 1.8% |
| 3-5y | 3.4% |
| 5-10y | 10.0% |
| 10y+ | 84.1% |
| Unknown | 0.1% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 59% |
| Credit spreads | 41% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +3.36 yr |
| High yield | +0.69 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 1.08 yr | 18% |
| 5 yr | 2.86 yr | 49% |
| 10 yr | 1.69 yr | 29% |
| 30 yr | 0.25 yr | 4% |
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.38 yr | 9% |
| 5 yr | 2.25 yr | 56% |
| 10 yr | 1.36 yr | 33% |
| 30 yr | 0.05 yr | 1% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.01 | +0.00 | $17.6k | $13.1k |
| 1 yr | +1.08 | +0.32 | +0.06 | $969.9k | $195.8k |
| 5 yr | +2.86 | +1.89 | +0.36 | $5.81m | $1.10m |
| 10 yr | +1.69 | +1.11 | +0.25 | $3.41m | $754.9k |
| 30 yr | +0.25 | +0.03 | +0.02 | $107.2k | $57.2k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT1.88% · due 2041-02-15 | 0.72% | — | $222.54M | — |
| DGCXX | DREYFUS GOVT CASH MGMT-IDGCXX | 0.69% | — | $210.66M | — |
| MVRXX | MORGAN STANLEY INSTITUTIONAL LIQUIDITY FUNDSMVRXX | 0.67% | — | $204.47M | — |
| NITXX | NORTHERN INSTITUTIONAL FUNDSNITXX | 0.67% | — | $204.47M | — |
| — | DOUBLELINE CAPITAL LP | 0.66% | $50.40 | $201.58M | 4.0M |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT4.25% · due 2035-05-15 | 0.64% | — | $197.66M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT1.13% · due 2040-05-15 | 0.62% | — | $190.07M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT1.63% · due 2027-10-15 | 0.60% | — | $184.12M | — |
| — | CITIGROUP MORTGAGE LOAN TRUST INC1.75% floating · due 2065-03-25 | 0.58% | — | $179.76M | — |
| — | FEDERAL NATIONAL MORTGAGE ASSOCIATION3.37% · due 2047-11-01 | 0.57% | — | $176.04M | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 6.41% of net assets, top 25 12.96%, across 1.1K issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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