CAPE vs DSTL
DoubleLine Shiller CAPE US Equities ETF vs Distillate US Fundamental Stability & Value ETF
Which is better, CAPE or DSTL?
DSTL has been ahead.
DSTL has a lower expense ratio. DSTL led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.90. DSTL is less concentrated, with 18.3% of the fund in its ten largest positions against 29.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CAPE | DSTL |
|---|---|---|
| Expense Ratio | 0.65% | 0.39%Best |
| AUM | $209M | $2.0B |
| Dividend Yield | 1.46% | 1.14% |
| Holdings | 182 | 300 |
| YTD Return | +0.19% | +13.34%Best |
| 1Y Return | +0.83% | +16.45%Best |
| 3Y Return (annualized) | +11.60% | +15.03%Best |
| 5Y Return (annualized) | - | +10.92% |
| Volatility (annualized) | 16.7% | 16.3%Best |
| Max Drawdown | -22.1% | -17.5%Best |
| $10,000 over 4.5 years | $13,406 | $15,916Best |
| Top 10 Weight | 29.0% | 18.3%Best |
| Fund Family | DoubleLine Funds | Distillate Capital Etfs |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Mar 31, 2022 | Oct 23, 2018 |
Volatility and max drawdown, and the $10,000 over 4.5 years row, are measured over the window both funds cover: Apr 5, 2022 to Oct 14, 2026 (4.5 years).
CAPE vs DSTL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.5 years both funds cover.
CAPE vs DSTL Performance
DoubleLine Shiller CAPE US Equities ETF (CAPE) is an ETF from DoubleLine Funds and Distillate US Fundamental Stability & Value ETF (DSTL) is an ETF from Distillate Capital Etfs. Over the past year CAPE returned +0.83% while DSTL returned +16.45%. Year to date, CAPE is up 0.19% versus a gain of 13.34% for DSTL.
Over three years, CAPE compounded at +11.60% per year against +15.03% for DSTL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CAPE has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 16.3% for DSTL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -22.1% for CAPE and -17.5% for DSTL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
CAPE charges 0.65% per year while DSTL charges 0.39%. On a $10,000 position that is $65 vs $39 annually, a gap of $26 per year that compounds over a long holding period. On income, CAPE currently yields 1.46% against 1.14% for DSTL.
Holdings Overlap
6.0% of CAPE's money is in holdings DSTL also owns. 13.2% of DSTL's money is in holdings CAPE also owns.
DSTL and CAPE share little of their money.
13 positions in common, counted across the 170 positions we hold weights for in CAPE and 101 in DSTL, against full books of 182 and 300.
What only one of them owns
Our book lists 87 positions for DSTL that do not appear in our book for CAPE (86.0% of the fund), and 152 for CAPE that do not appear in DSTL (89.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CAPE | Weight in DSTL | Difference |
|---|---|---|---|
| BKNGPriceline.com, Inc. | 0.96% | 1.64% | 0.68% |
| MOAltria Group Inc | 1.06% | 1.43% | 0.37% |
| LOWLowe S Cos Inc | 0.71% | 1.35% | 0.64% |
| SYYSysco Corp. | 0.62% | 0.98% | 0.36% |
| CFCf Industries Holdings Inc. | 0.67% | 0.79% | 0.12% |
| KRKroger Co. | 0.52% | 0.81% | 0.29% |
| AVYAvery Dennison Corp. | 0.45% | 0.84% | 0.39% |
| DHIDR Horton Inc|224 | 0.24% | 0.93% | 0.69% |
| STZConstellation Brands Inc | 0.29% | 0.87% | 0.58% |
| BBYBest Buy Co. Inc. | 0.10% | 0.97% | 0.87% |
You are not choosing between two funds in isolation.
Whichever of CAPE and DSTL you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CAPE or DSTL?
CAPE has an expense ratio of 0.65% while DSTL charges 0.39%. DSTL is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, CAPE or DSTL?
Over the past year CAPE returned +0.83% vs +16.45% for DSTL, so DSTL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CAPE or DSTL?
CAPE has been the more volatile fund at 16.7% annualized versus 16.3% for DSTL. Worst drawdown: CAPE -22.1% vs DSTL -17.5%.
Should I hold both CAPE and DSTL?
CAPE and DSTL have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between CAPE and DSTL?
13.2% of DSTL's money is in holdings CAPE also owns. 13.2% of DSTL's is in holdings CAPE also owns. They hold 13 positions in common, counted across the 170 positions we hold weights for in CAPE and 101 in DSTL.
Which pays a higher dividend, CAPE or DSTL?
CAPE yields 1.46% while DSTL yields 1.14%, so CAPE currently pays the higher dividend yield.
Is DSTL better than CAPE?
DSTL has a lower expense ratio. DSTL led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.90. DSTL is less concentrated, with 18.3% of the fund in its ten largest positions against 29.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.