Fund Evaluator:
DoubleLine Core Fixed Income I2 (DLFIX)
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Best Performing in Intermediate Core-Plus Bond Over the Last Year
| 4.1% | Diamond Hill Core Plus Bond Y (DHNYX) |
| 3.9% | Diamond Hill Core Plus Bond I (DHNIX) |
| 3.7% | Diamond Hill Core Plus Bond Investor (DHNAX) |
| 3.5% | Weitz Core Plus Income Investor (WCPNX) |
| 3.4% | Nuveen Core Plus Bond I (TCBHX) |
Fund Details
DoubleLine Core Fixed Income I2 Overview
DoubleLine Core Fixed Income I2 (DLFIX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. DoubleLine launched the fund in 2025.
The investment seeks to maximize current income and total return. The advisor intends to invest at least 80% of the fund's net assets (plus the amount of borrowings for investment purposes) in fixed income instruments. The fund may invest up to 331/3% of its net assets in junk bonds, bank loans and assignments rated below investment grade or unrated but determined by the adviser to be of comparable quality, and credit default swaps of companies in the high yield universe. It may invest up to 5% of its net assets in defaulted corporate securities.
About DoubleLine Core Fixed Income I2 (DLFIX)
There are 2 members of the management team with an average tenure of 13.04 years: Jeffrey Sherman (2016), Jeffrey Gundlach (2010). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. DoubleLine Core Fixed Income I2 has 1704 securities in its portfolio. The top 10 holdings constitute 26.4% 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 Core Fixed Income I2 is part of the Fixed Income global asset class and is within the Taxable Bond fund group. DoubleLine Core Fixed Income I2 has 13.5% 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 0.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 92.4% (78.9% domestic bond, 13.5% foreign bond and 0.0% convertible bond). DoubleLine Core Fixed Income I2 has 7.4% of the portfolio in cash.
Assets Under Management
The fund has $17 million in total assets, which is below the $1 billion average for the Intermediate Core-Plus 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.
DLFIX 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 Core Fixed Income I2 expense ratio is average compared to funds in the Intermediate Core-Plus Bond category. DoubleLine Core Fixed Income I2 has an expense ratio of 0.55%, which is 29% 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 Core Fixed Income I2 has a portfolio turnover rate of 43%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 181% for the Intermediate Core-Plus Bond category.
Recently, in the month of July 2026, DoubleLine Core Fixed Income I2 returned -1.0%, which earned it a grade of A, as the Intermediate Core-Plus Bond category had an average return of -1.3%. 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 funds in that category.
DoubleLine Core Fixed Income I2 has a trailing yield of 0.00%, which is below the 4.36% 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 Core Fixed Income I2 Grades
Year to date, the fund has returned -1.0%, 0.3 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.5% over the past year (grade of D), 4.3% over the past three years (grade of C) and 0.2% per year over the past five years (grade of B) and 1.7% per year over the past 10 years (grade of C).
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DLFIX 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 |
|
| DLFIX Return (NAV) | -1.0% | -0.8% | 2.5% | 4.3% | 0.2% | 1.7% |
| DLFIX Grade | A | D | D | C | B | C |
| +/- Category | 0.3% | -0.1% | -0.2% | 0.2% | 0.4% | -0.1% |
| Intermediate Core-Plus Bond Avg | -1.3% | -0.7% | 2.7% | 4.2% | -0.2% | 1.8% |
| DLFIX Tax Cost Ratio | na | na | na | na | na | na |
DLFIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DLFIX Return (NAV) | -1.0% | 7.5% | 3.0% | 6.4% | -12.8% | -0.3% | 5.6% | 8.0% | -0.0% | 4.7% | 4.1% |
| DLFIX Grade | F | B | B | C | B | B | F | F | A | B | C |
| +/- Category | -0.3% | 0.2% | 0.8% | 0.3% | 0.6% | 0.3% | -3.0% | -1.1% | 0.9% | 0.2% | -0.2% |
| Intermediate Core-Plus Bond Avg | -0.6% | 7.3% | 2.3% | 6.1% | -13.4% | -0.6% | 8.6% | 9.1% | -0.9% | 4.4% | 4.3% |
| Risk Measures | |
| Standard Deviation: | 5.5% |
| Total Risk Index: | 0.45 - Low |
| Category Risk Index: | 0.97 - Below Average |
| Category Risk Grade: | B (27% Rank) |
| Beta: | 0.96 |
| R-Squared: | 98% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | -- |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $6809 Mil |
| Fund Total Assets: | $ 18 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 43% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 16.2 years | |||
| Average Tenure: 13.0 years | |||
| Managers (Year): Gundlach Jeffrey (2010), Sherman Jeffrey (2016) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 1704 |
| % in Top 10 Holdings: | 26.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 13.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.2% |
| Domestic Bond: | 78.9% |
| Foreign Bond: | 13.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 7.4% |
Purchase Information
| Fund Family: | DoubleLine |
| Phone Number: | 877-354-6311 |
| Website: | www.doublelinefunds.com |
| Status: | Open |
| Inception Date: | October 31, 2025 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $5,000 |
| 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 (%): | 0.55% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | DoubleLine Core Fixed Income I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
