Fund Evaluator:

DoubleLine Shiller Enhanced Intl CAPE® N Overview

DoubleLine Shiller Enhanced Intl CAPE® N (DLEUX) is an actively managed International Equity Europe Stock fund. DoubleLine launched the fund in 2016.

The investment seeks total return which exceeds the total return of its benchmark index over a full market cycle. The advisor seeks total return (capital appreciation and current income) in excess of the benchmark index, the MSCI Europe Net Return USD Index, over a full market cycle. It will seek to use derivatives, or a combination of derivatives and direct investments, to provide a return that approximates the performance of the Shiller Barclays CAPE® Europe Sector Net TR NoC USD Index (the "index"). The index is currently composed of issuers in fifteen different countries, generally in Europe.

About DoubleLine Shiller Enhanced Intl CAPE® N (DLEUX)

There are 2 members of the management team with an average tenure of 9.52 years: Jeffrey Sherman (2016), Jeffrey Gundlach (2016). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: MSCI Europe NR USD index with a weighting of 100%. DoubleLine Shiller Enhanced Intl CAPE® N has 271 securities in its portfolio. The top 10 holdings constitute 130.8% 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 Shiller Enhanced Intl CAPE® N is part of the Equity global asset class and is within the International Equity fund group. DoubleLine Shiller Enhanced Intl CAPE® N has 7.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.2%. 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 74.6% (67.1% domestic bond, 7.4% foreign bond and 0.0% convertible bond). DoubleLine Shiller Enhanced Intl CAPE® N has -72.8% of the portfolio in cash.

Assets Under Management

The fund has $4 million in total assets, which is below the $1 billion average for the Europe Stock 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.

DLEUX 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 Enhanced Intl CAPE® N expense ratio is high compared to funds in the Europe Stock category. DoubleLine Shiller Enhanced Intl CAPE® N has an expense ratio of 0.92%, which is 3% lower than its category average, making the fund expense ratio grade a C. 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 Enhanced Intl CAPE® N has a portfolio turnover rate of 58%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 108% for the Europe Stock category.

Recently, in the month of June 2026, DoubleLine Shiller Enhanced Intl CAPE® N returned -3.7%, which earned it a grade of F, as the Europe Stock category had an average return of 0.1%. 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 Shiller Enhanced Intl CAPE® N has a trailing yield of 3.98%, which is above the 2.15% 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 Shiller Enhanced Intl CAPE® N Grades

Year to date, the fund has returned 11.7%, 4.1 percentage points better than the category, which translates into a grade of A. The fund has returned 25.6% over the past year (grade of A), 13.3% over the past three years (grade of F) and 6.5% per year over the past five years (grade of D).

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