Fund Evaluator:
DoubleLine Em Mkts Lcl Ccy Bd I2 (DLWIX)
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Best Performing in Emerging-Markets Local-Currency Bond Over the Last Year
| 10.3% | TCW Emerging Markets Local Ccy Inc N (TGWNX) |
| 9.4% | DoubleLine Em Mkts Lcl Ccy Bd I2 (DLWIX) |
| 9.2% | DoubleLine Em Mkts Lcl Ccy Bd N (DLELX) |
| 8.7% | T. Rowe Price Emerg Mkts Lcl Ccy Bd Z (TRZFX) |
| 8.3% | Payden Emerging Markets Local Bond Inv (PYELX) |
Fund Details
DoubleLine Em Mkts Lcl Ccy Bd I2 Overview
DoubleLine Em Mkts Lcl Ccy Bd I2 (DLWIX) is an actively managed Taxable Bond Emerging-Markets Local-Currency Bond fund. DoubleLine launched the fund in 2025.
The investment seeks high total return from current income and capital appreciation. The advisor intends to invest principally in bonds of issuers in emerging market countries denominated in local (non-U.S.) currencies. Under normal circumstances, the advisor intends to invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in bonds of issuers in emerging market countries denominated in the currencies of emerging market countries. It is non-diversified.
About DoubleLine Em Mkts Lcl Ccy Bd I2 (DLWIX)
There are 4 members of the management team with an average tenure of 7.01 years: Mark Christensen (2019), Su Koo (2019), William Campbell (2019), Valerie Ho (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Global Aggregate TR USD index with a weighting of 100% and JPM GBI-EM Global Diversified TR USD index with a weighting of 100%. DoubleLine Em Mkts Lcl Ccy Bd I2 has 60 securities in its portfolio. The top 10 holdings constitute 37.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
DoubleLine Em Mkts Lcl Ccy Bd I2 is part of the Fixed Income global asset class and is within the Taxable Bond fund group. DoubleLine Em Mkts Lcl Ccy Bd I2 has 97.5% 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 97.5% (0.0% domestic bond, 97.5% foreign bond and 0.0% convertible bond). DoubleLine Em Mkts Lcl Ccy Bd I2 has 2.5% of the portfolio in cash.
Assets Under Management
The fund has $205 million in total assets, which is below the $140 million average for the Emerging-Markets Local-Currency 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.
DLWIX 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 Em Mkts Lcl Ccy Bd I2 expense ratio is high compared to funds in the Emerging-Markets Local-Currency Bond category. DoubleLine Em Mkts Lcl Ccy Bd I2 has an expense ratio of 0.98%, which is 17% 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 Em Mkts Lcl Ccy Bd I2 has a portfolio turnover rate of 46%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 101% for the Emerging-Markets Local-Currency Bond category.
Recently, in the month of June 2026, DoubleLine Em Mkts Lcl Ccy Bd I2 returned -0.1%, which earned it a grade of F, as the Emerging-Markets Local-Currency Bond category had an average return of 0.5%. 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 Em Mkts Lcl Ccy Bd I2 has a trailing yield of 0.00%, which is below the 6.56% category average. The fund normally distributes its income quarterly.
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 Em Mkts Lcl Ccy Bd I2 Grades
Year to date, the fund has returned 2.0%, 0.0 percentage points better than the category, which translates into a grade of B. The fund has returned 9.4% over the past year (grade of B), 7.2% over the past three years (grade of C) and 3.2% per year over the past five years (grade of B).
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DLWIX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DLWIX Return (NAV) | -0.1% | 4.4% | 9.4% | 7.2% | 3.2% | na |
| DLWIX Grade | F | C | B | C | B | na |
| +/- Category | -0.6% | -0.2% | 0.6% | -0.2% | 0.3% | na |
| Emerging-Markets Local-Currency Bond Avg | 0.5% | 4.5% | 8.8% | 7.5% | 2.9% | 3.0% |
| DLWIX Tax Cost Ratio | na | na | na | na | na | na |
DLWIX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DLWIX Return (NAV) | 2.0% | 20.8% | -4.4% | 12.5% | -7.0% | -9.4% | 2.6% | na | na | na | na |
| DLWIX Grade | B | B | D | D | A | D | C | na | na | na | na |
| +/- Category | 0.0% | 0.4% | -0.9% | -0.7% | 2.5% | -1.3% | 0.6% | na | na | na | na |
| Emerging-Markets Local-Currency Bond Avg | 2.0% | 20.4% | -3.4% | 13.2% | -9.5% | -8.0% | 2.0% | 13.2% | -7.2% | 14.8% | 9.8% |
| Risk Measures | |
| Standard Deviation: | 8.6% |
| Total Risk Index: | 0.70 - Below Average |
| Category Risk Index: | 0.97 - Low |
| Category Risk Grade: | A (14% Rank) |
| Beta: | 1.14 |
| R-Squared: | 55% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | -- |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | |
| Total Assets: | $519 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 46% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 7.0 years | |||
| Average Tenure: 7.0 years | |||
| Managers (Year): Christensen Mark (2019), Koo Su (2019), Campbell William (2019), Ho Valerie (2019) | |||
Portfolio Composition (as of 2/27/26)
| # of Holdings: | 60 |
| % in Top 10 Holdings: | 37.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 97.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 97.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.5% |
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 (%): | 0.98% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.18% |
| Share Class: | DoubleLine Em Mkts Lcl Ccy Bd I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
