DoubleLine Total Return Bond Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, DoubleLine Total Return Bond Fund held 3,135 positions with $30.75B in net assets. Its ten largest holdings made up 6.4% of the fund. The DBLTX share class costs 0.5% a year. Over the 12 months to May 2026, DBLTX returned 5.2%, with dividends reinvested. In 2026 Q2 it added 80 new positions and exited 81.
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.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 1.88% · due 2041-02-15 | 0.72% | $222.54M | — | — |
DGCXXDREYFUS GOVT CASH MGMT-I | 0.69% | $210.66M | — | — |
MVRXXMORGAN STANLEY INSTITUTIONAL LIQUIDITY FUNDS | 0.67% | $204.47M | — | — |
NITXXNORTHERN INSTITUTIONAL FUNDS | 0.67% | $204.47M | — | — |
DOUBLELINE CAPITAL LP | 0.66% | $201.58M | 4.0M | $50.40 |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 4.25% · due 2035-05-15 | 0.64% | $197.66M | — | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 1.13% · due 2040-05-15 | 0.62% | $190.07M | — | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 1.63% · due 2027-10-15 | 0.60% | $184.12M | — | — |
CITIGROUP MORTGAGE LOAN TRUST INC 1.75% floating · due 2065-03-25 | 0.58% | $179.76M | — | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.37% · 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.
The 200 largest of 3,135 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| 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.
How it has done
DBLTX share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.63%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 4 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.50% | +5.17% | +13.99% | +3.39% | -5.74% | |
| 0.75% | +5.01% | +13.24% | +2.04% | -5.85% | |
| 0.43% | +5.21% | +14.16% | +3.56% | -5.73% | |
| 0.55% | — | — | — | — |
Fees & fund details
DoubleLine Total Return Bond Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
- Expense ratio, by class
- 0.43% – 0.75%· DBLTX 0.50%
- Portfolio turnover
- 33.00% a year · as of 2025 Q4
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
80 new· the largest 8
81 exited· the largest 4
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.
Understand how this fund fits with the rest.
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