Having trouble finding a Mutual Fund Equity Report fund? DoubleLine Shiller Enhanced CAPE I (DSEEX) is a possible starting point. DSEEX holds a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
Double Line is based in Los Angeles, CA, and is the manager of DSEEX. The DoubleLine Shiller Enhanced CAPE I made its debut in October of 2013 and DSEEX has managed to accumulate roughly $4.01 billion in assets, as of the most recently available information. Jeffrey Sherman is the fund’s current manager and has held that role since October of 2013.
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund has delivered a 5-year annualized total return of 8.39%, and it sits in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 9.34%, 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. Over the past three years, DSEEX’s standard deviation comes in at 25.96%, compared to the category average of 18.73%. Looking at the past 5 years, the fund’s standard deviation is 22.39% compared to the category average of 16.36%. This makes the fund more volatile than its peers over the past half-decade.
The fund has a 5-year beta of 1.15, so investors should note that it is hypothetically more volatile than the market at large. 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. DSEEX has generated a negative alpha over the past five years of -1.98, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
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 0.55% compared to the category average of 0.91%. Looking at the fund from a cost perspective, DSEEX is actually cheaper than its peers.
While the minimum initial investment for the product is $100,000, investors should also note that each subsequent investment needs to be at least $100.
Overall, DoubleLine Shiller Enhanced CAPE I ( DSEEX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, worse 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. And don’t forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.
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