ETF Evaluator:
DoubleLine Shiller CAPE US Equities ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Large Value Over the Last Year
| 72.4% | iShares MSCI USA Value Factor ETF (VLUE) |
| 39.0% | SEI QiM U.S. Lrg Cap Value Actv ETF (SEIV) |
| 34.8% | LSV Disciplined Value ETF (LSVD) |
| 34.7% | iShares Core Dividend ETF (DIVB) |
| 34.4% | Avantis US Large Cap Value ETF (AVLV) |
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ETF Details
DoubleLine Shiller CAPE US Equities ETF Overview
DoubleLine Shiller CAPE US Equities ETF (CAPE) is an actively managed U.S. Equity Large Value exchange-traded fund (ETF). DoubleLine ETF Trust launched the ETF in 2022.
The investment seeks total return which exceeds the total return of the S&P 500 Index.
Under normal circumstances, the fund invests at least 80% of its net assets in U.S. equity securities, including exchange-traded investment companies that provide exposure to U.S. equity securities, subject to the limitations. It may invest in equity securities of companies of any market capitalization other than penny stocks. The fund is non-diversified.
About DoubleLine Shiller CAPE US Equities ETF (CAPE)
There are 2 members of the management team with an average tenure of 4.34 years: Jeffrey Sherman (2022) and Jeffrey Gundlach (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. DoubleLine Shiller CAPE US Equities ETF has 201 securities in its portfolio. The top 10 holdings constitute 25.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
DoubleLine Shiller CAPE US Equities ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. DoubleLine Shiller CAPE US Equities ETF has 0.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.5% There is 0.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). DoubleLine Shiller CAPE US Equities ETF has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $241 million in total assets, which is below the $5 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CAPE Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The DoubleLine Shiller CAPE US Equities ETF expense ratio is above average compared to funds in the Large Value category. DoubleLine Shiller CAPE US Equities ETF has an expense ratio of 0.65%, which is 74% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. DoubleLine Shiller CAPE US Equities ETF has a portfolio turnover rate of 255%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 40% for the Large Value category.
Recently, in the month of July 2026, DoubleLine Shiller CAPE US Equities ETF returned 1.5%, which earned it a grade of D, as the Large Value category had an average return of 2.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
DoubleLine Shiller CAPE US Equities ETF has a trailing yield of 1.38%, which is below the 1.70% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
DoubleLine Shiller CAPE US Equities ETF Grades
Year to date, the ETF has returned 2.3%, 12.1 percentage points worse than the category, which translates into a grade of F. The fund has returned 5.7% over the past year (grade of F) and 10.3% over the past three years (grade of F).
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CAPE Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CAPE Return (NAV) | 1.5% | 1.3% | 5.7% | 10.3% | na | na |
| CAPE Return (Price) | 1.4% | 1.3% | 5.6% | 10.3% | na | na |
| NAV +/- Price Return | 0.102% | -0.036% | 0.064% | -0.035% | na | na |
| Large Value Avg | 2.4% | 5.9% | 24.1% | 16.3% | 11.3% | 12.1% |
| CAPE Grade (NAV) | D | F | F | F | na | na |
| +/- Category (NAV) | -0.9% | -4.6% | -18.4% | -5.9% | na | na |
| CAPE Tax-Cost Ratio | na | na | 0.6% | 0.5% | na | na |
CAPE Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CAPE Return (NAV) | 2.3% | 9.0% | 14.6% | 27.7% | na | na | na | na | na | na | na |
| CAPE Return (Price) | 2.3% | 9.1% | 14.4% | 27.6% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.002% | 0.016% | -0.015% | -0.003% | na | na | na | na | na | na | na |
| Large Value Avg | 14.4% | 14.8% | 15.5% | 13.1% | -6.5% | 26.7% | 5.4% | 27.4% | -6.6% | 17.7% | 15.7% |
| CAPE Grade (NAV) | F | F | C | A | na | na | na | na | na | na | na |
| +/- Category | -12.1% | -5.9% | -0.8% | 14.7% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.76 |
| R-Squared: | 63% |
| Standard Deviation: | 12.7% |
| Category Risk Index: | 1.04 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.03 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 1.4% |
| Total Assets: | $ 241 Mil |
| Share Class Assets: | $ 241 Mil |
| Turnover: | 255.0% |
| Expense Ratio: | 0.65% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 4.3 years | |||
| Average Tenure: 4.3 years | |||
| Managers (Year): Sherman Jeffrey (2022), Gundlach Jeffrey (2022) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 201 |
| % in Top 10 Holdings: | 25.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.4% |
Portfolio Allocation |
|
| Domestic Stock: | 99.5% |
| Foreign Stock: | 0.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | DoubleLine ETF Trust |
| Phone Number: | 855-937-0772 |
| Website: | |
| Inception Date: | March 31, 2022 |
Expenses and Fees
| Expense Ratio (%): | 0.65% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.37% |
