ETF Evaluator:
DoubleLine Commercial Real Estt Dbt ETF ()
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(as of Aug 26)
Best Performing in Securitized Bond - Focused Over the Last Year
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ETF Details
DoubleLine Commercial Real Estt Dbt ETF Overview
DoubleLine Commercial Real Estt Dbt ETF (DCRE) is an actively managed Taxable Bond Securitized Bond - Focused exchange-traded fund (ETF). DoubleLine ETF Trust launched the ETF in 2023.
The investment seeks current income and capital preservation; long-term capital appreciation as a secondary objective.
The fund is an actively managed exchange-traded fund (“ETF”). Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in commercial real estate instruments or other investments with economic characteristics similar to commercial real estate instruments, such as derivative instruments (including credit default swaps). The fund is non-diversified.
About DoubleLine Commercial Real Estt Dbt ETF (DCRE)
There are 3 members of the management team with an average tenure of 3.34 years: Morris Chen (2023), Mark Cho (2023) and Robert Stanbrook (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Aggregate 1-3 Yr TR USD index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. DoubleLine Commercial Real Estt Dbt ETF has 280 securities in its portfolio. The top 10 holdings constitute 17.5% 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 Commercial Real Estt Dbt ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. DoubleLine Commercial Real Estt Dbt ETF has 2.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 94.9% (92.4% domestic bond, 2.5% foreign bond and 0.0% convertible bond). DoubleLine Commercial Real Estt Dbt ETF has 5.1% of the portfolio in cash.
Assets Under Management
The fund has $458 million in total assets, which is below the $1 billion average for the Securitized Bond - Focused 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.
DCRE 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 Commercial Real Estt Dbt ETF expense ratio is below average compared to funds in the Securitized Bond - Focused category. DoubleLine Commercial Real Estt Dbt ETF has an expense ratio of 0.39%, which is 25% higher than its category average, making the fund expense ratio grade a D. 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 Commercial Real Estt Dbt ETF has a portfolio turnover rate of 66%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 51% for the Securitized Bond - Focused category.
Recently, in the month of July 2026, DoubleLine Commercial Real Estt Dbt ETF returned 0.1%, which earned it a grade of F, as the Securitized Bond - Focused category had an average return of 0.3%. 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 Commercial Real Estt Dbt ETF has a trailing yield of 4.76%, which is below the 5.32% category average.
The fund normally distributes its income monthly 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 Commercial Real Estt Dbt ETF Grades
Year to date, the ETF has returned 1.7%, 0.8 percentage points worse than the category, which translates into a grade of F. The fund has returned 4.3% over the past year (grade of F) and 6.1% over the past three years (grade of F).
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DCRE 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 |
|
| DCRE Return (NAV) | 0.1% | 0.6% | 4.3% | 6.1% | na | na |
| DCRE Return (Price) | 0.2% | 0.6% | 4.3% | 6.0% | na | na |
| NAV +/- Price Return | -0.097% | -0.044% | -0.044% | 0.018% | na | na |
| Securitized Bond - Focused Avg | 0.3% | 1.2% | 4.9% | 6.6% | 3.4% | 1.9% |
| DCRE Grade (NAV) | F | F | F | F | na | na |
| +/- Category (NAV) | -0.2% | -0.6% | -0.7% | -0.5% | na | na |
| DCRE Tax-Cost Ratio | na | na | 1.9% | 2.0% | na | na |
DCRE Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DCRE Return (NAV) | 1.7% | 6.1% | 6.8% | na | na | na | na | na | na | na | na |
| DCRE Return (Price) | 1.9% | 5.9% | 6.9% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.094% | -0.041% | 0.010% | na | na | na | na | na | na | na | na |
| Securitized Bond - Focused Avg | 2.5% | 5.9% | 7.6% | 9.0% | -3.7% | 0.3% | 5.8% | 7.5% | 0.6% | 3.1% | 3.0% |
| DCRE Grade (NAV) | F | B | F | na | na | na | na | na | na | na | na |
| +/- Category | -0.8% | 0.2% | -0.8% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.17 |
| R-Squared: | 71% |
| Standard Deviation: | 1.2% |
| Category Risk Index: | 0.89 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.10 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.8% |
| Total Assets: | $ 458 Mil |
| Share Class Assets: | $ 458 Mil |
| Turnover: | 66.0% |
| Expense Ratio: | 0.39% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Aggregate 1-3 Yr TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 3.3 years | |||
| Average Tenure: 3.3 years | |||
| Managers (Year): Chen Morris (2023), Cho Mark (2023), Stanbrook Robert (2023) | |||
Portfolio Composition (as of 7/23/26)
| # of Holdings: | 280 |
| % in Top 10 Holdings: | 17.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 2.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 92.4% |
| Foreign Bond: | 2.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 5.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | DoubleLine ETF Trust |
| Phone Number: | 855-937-0772 |
| Website: | |
| Inception Date: | March 31, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.39% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.31% |
