DBL vs SPY
DoubleLine Opportunistic Credit Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, DBL or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
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 | DBL | SPY |
|---|---|---|
| Expense Ratio | 1.75% | 0.09%Best |
| AUM | $288M | $823.2B |
| Dividend Yield | 9.28% | 0.99% |
| Holdings | 566 | 1,515 |
| YTD Return | -6.30% | +13.53%Best |
| 1Y Return | -7.32% | +17.47%Best |
| 3Y Return (annualized) | +5.75% | +22.36%Best |
| 5Y Return (annualized) | +0.33% | +13.21%Best |
| Volatility (annualized) | 10.1%Best | 14.0% |
| Max Drawdown | -45.3% | -34.1%Best |
| $10,000 over 5 years | $10,166 | $18,596Best |
| Fund Family | DoubleLine Funds | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | - | Large Cap Blend |
| Inception | Jan 26, 2012 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 27, 2012 to Oct 14, 2026 (14.7 years).
DBL vs SPY 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
DBL vs SPY Performance
DoubleLine Opportunistic Credit Fund (DBL) is an ETF from DoubleLine Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DBL returned -7.32% while SPY returned +17.47%. Year to date, DBL is down 6.30% versus a gain of 13.53% for SPY.
Over three years, DBL compounded at +5.75% per year against +22.36% for SPY; over five years the annualized figures are +0.33% and +13.21% respectively. Across the full 15-year window we track, SPY has the edge at +13.33% annualized vs -1.29%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.0% compared with 10.1% for DBL. 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 -45.3% for DBL and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.39. They move together some of the time, and apart the rest.
Fees and Cost Over Time
DBL charges 1.75% per year while SPY charges 0.09%. On a $10,000 position that is $175 vs $9 annually, a gap of $166 per year that compounds over a long holding period. On income, DBL currently yields 9.28% against 0.99% for SPY.
Holdings Overlap
We hold position weights for 94 holdings in DBL and 504 in SPY, totalling 16.7% and 99.8% of the two funds. That is not enough of DBL to divide by, so no overlap percentage is shown here. Within what we can see, 1 positions appear in both.
1 positions in common, counted across the 94 positions we hold weights for in DBL and 504 in SPY, against full books of 566 and 1,515.
Top Shared Holdings
| Stock | Weight in DBL | Weight in SPY | Difference |
|---|---|---|---|
| JJacobs Engineering Group Inc. | 0.00% | 0.03% | 0.03% |
You are not choosing between two funds in isolation.
Whichever of DBL and SPY 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, DBL or SPY?
DBL has an expense ratio of 1.75% while SPY charges 0.09%. SPY is the cheaper option, by $166 a year on a $10,000 investment.
Which performed better, DBL or SPY?
Over the past year DBL returned -7.32% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (15 years), DBL annualized -1.29% vs +13.33% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DBL or SPY?
SPY has been the more volatile fund at 14.0% annualized versus 10.1% for DBL. Worst drawdown: DBL -45.3% vs SPY -34.1%.
Should I hold both DBL and SPY?
DBL and SPY have a monthly-return correlation of 0.39, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, DBL or SPY?
DBL yields 9.28% while SPY yields 0.99%, so DBL currently pays the higher dividend yield.
Is SPY better than DBL?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.