Fund Evaluator:
Doubleline Selective Credit I (DBSCX)
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Best Performing in Multisector Bond Over the Last Year
| 7.1% | Morningstar Multisector Bond (MSTMX) |
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| 5.4% | Russell Inv Opportunistic Credit Y (RGCYX) |
| 5.4% | Russell Inv Opportunistic Credit M (RGOTX) |
| 5.2% | Payden Managed Income SI (PKBIX) |
Fund Details
Doubleline Selective Credit I Overview
Doubleline Selective Credit I (DBSCX) is an actively managed Taxable Bond Multisector Bond fund. DoubleLine launched the fund in 2014.
The investment seeks long-term total return. The fund will seek to achieve its investment objective by investing principally in a portfolio of residential and commercial mortgage-backed securities and other asset-backed securities. It will normally invest at least 25% of its total assets in mortgage-backed securities, including privately-issued (commonly known as "non-agency") securities. The fund may invest in collateralized bond obligations ("CBOs"), CLOs, other CDOs, and other similarly structured securities.
About Doubleline Selective Credit I (DBSCX)
There are 3 members of the management team with an average tenure of 8.34 years: Andrew Hsu (2019), Ken Shinoda (2020), Jeffrey Gundlach (2014). Management tenure is more important for actively managed funds than passive index funds.
Doubleline Selective Credit I has 284 securities in its portfolio. The top 10 holdings constitute 16.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Doubleline Selective Credit I is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Doubleline Selective Credit I has 0.0% 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 95.6% (95.6% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Doubleline Selective Credit I has 5.4% of the portfolio in cash.
Assets Under Management
The fund has $720 million in total assets, which is below the $1 billion average for the Multisector Bond 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.
DBSCX 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 Selective Credit I expense ratio is above average compared to funds in the Multisector Bond category. Doubleline Selective Credit I has an expense ratio of 0.64%, which is 32% lower than its category average, making the fund expense ratio grade a B. 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 Selective Credit I has a portfolio turnover rate of 27%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 162% for the Multisector Bond category.
Recently, in the month of July 2026, Doubleline Selective Credit I returned -0.3%, which earned it a grade of A, as the Multisector Bond category had an average return of -0.7%. 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 funds in that category.
Doubleline Selective Credit I has a trailing yield of 6.61%, which is above the 5.31% category average. The fund normally distributes its income monthly.
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 Selective Credit I Grades
Year to date, the fund has returned 1.9%, 1.0 percentage points better than the category, which translates into a grade of A. The fund has returned 5.4% over the past year (grade of A), 7.5% over the past three years (grade of A) and 3.7% per year over the past five years (grade of A) and 4.3% per year over the past 10 years (grade of A).
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DBSCX 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 |
|
| DBSCX Return (NAV) | -0.3% | 0.4% | 5.4% | 7.5% | 3.7% | 4.3% |
| DBSCX Grade | A | B | A | A | A | A |
| +/- Category | 0.4% | 0.4% | 1.1% | 1.2% | 1.3% | 0.8% |
| Multisector Bond Avg | -0.7% | 0.0% | 4.3% | 6.3% | 2.4% | 3.5% |
| DBSCX Tax Cost Ratio | na | na | 2.6% | 2.7% | 2.6% | 2.7% |
DBSCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DBSCX Return (NAV) | 1.9% | 8.5% | 7.8% | 8.5% | -8.1% | 4.1% | 1.8% | 5.7% | 3.0% | 8.7% | 5.9% |
| DBSCX Grade | A | B | A | C | B | A | F | F | A | A | D |
| +/- Category | 1.0% | 0.4% | 2.0% | 0.1% | 2.0% | 1.9% | -4.5% | -4.6% | 4.9% | 2.1% | -1.6% |
| Multisector Bond Avg | 0.9% | 8.1% | 5.7% | 8.4% | -10.1% | 2.2% | 6.3% | 10.3% | -1.9% | 6.6% | 7.5% |
| Risk Measures | |
| Standard Deviation: | 3.2% |
| Total Risk Index: | 0.26 - Low |
| Category Risk Index: | 0.71 - Low |
| Category Risk Grade: | A (14% Rank) |
| Beta: | 0.53 |
| R-Squared: | 88% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 6.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $720 Mil |
| Fund Total Assets: | $ 721 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 27% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 12.0 years | |||
| Average Tenure: 8.3 years | |||
| Managers (Year): Gundlach Jeffrey (2014), Hsu Andrew (2019), Shinoda Ken (2020) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 284 |
| % in Top 10 Holdings: | 16.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 95.6% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -1.0% |
| Cash: | 5.4% |
Purchase Information
| Fund Family: | DoubleLine |
| Phone Number: | 213-633-8200 |
| Website: | www.doublelinefunds.com |
| Status: | Open |
| Inception Date: | August 4, 2014 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.64% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.94% |
| Share Class: | Doubleline Selective Credit I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
