JG talks about the difference between TOTL and DBLTX.

IBD: What are the similarities and differences between the Total Return Fund and TOTL, the ETF?
Gundlach: They're not the same.
The interest-rate risk in TOTL is the same
Read more: http://www.nasdaq.com/article/is-doublelines-jeffrey-gundlach-the-new-bond-king-cm505054#ixzz3rNvBpyY9

FWIW, I use TOTL. My other fixed income funds include PIMIX, AGG and muni CEFs/OEF.
Here's a discussion on TOTL at M*.
socialize.morningstar.com/NewSocialize/forums/p/361154/3752952.aspx#3752952

@Sven: Yes indeed. And then there's the question of 'active share' and how a fund does viz-a-viz the market and/or its competitors. I hold a few funds with high active share, and it's nice to know they zig when the rest of the herd (er, market) zags. Maybe not enough to offset any decline (especially when all correlations are 1) but drawdowns tend to be managable by comparison.

@Bitzer
Do your other bond fund holdings have any overlap/duplication of holdings of these Doubleline funds?
As noted, both are mortgage leaning; with DBLTX having about 87% of holdings stated as AAA credit quality (as of 3-31-16). The stated credit quality of TOTL is lower. If I was interested in this bond area at this time, I would have a coin toss.
Of little help, I suspect; but just a look.

Jeff was recommending the gold miners in November, 2012. He rode them all the way down and is now riding them up, but he is still way under water. In November, 2012, GDX was 45.93 and it is now 30.57.
http://blogs.barrons.com/stockstowatchtoday/2012/11/30/gundlach-likes-gold-miners-and-hes-not-alone/
Of course, you will never read about his bad forecasts in the media, es[pecially from Reuters. They are afraid to point out his bad forecasts because he may not give them interviews any more.

excellent, MOZART325

I am not very familiar with DRFRX, but its managers are also on the team of DRESX (Driehaus Emerging Markets Small Cap Growth Fund), which MFO profiled here: http://www.mutualfundobserver.com/2014/03/driehaus-emerging-markets-small-cap-growth-fund-dresx-march-2014/
I hold DRESX and it has done remarkably poorly over the past year, even by emerging markets standards. Incidentally, all of the other Driehaus stock funds have extremely high turnover -- over 300% in DRESX's case -- although this information isn't available yet for DRFRX. Just for what it's worth.

The biggest issue with the Driehaus fund is the $250K minimum investment/$100K for an IRA but if you're investing that kind of money then I'm also impressed with their approach. Is anyone aware of exceptions being made?

LLJB - What impresses you about their approach? They seem to fly under the radar, so any info you can provide would be very helpful.
Thanks!

DRFRX is available at TDAmeritrade, taxable account, for $10,000 minimum. This has been the Driehaus practice for as long as I can remember.

@LLJB @claimui
$2000 in fact for an IRA at TD. Called them early this a.m. and received the answer I posted above, emailed the firm for confirmation and was told $2,000, came back here, saw LLJB addition, did a chat with another TD rep, and was told 2K. 'Enuf said!
@LLJB I note that you posted in Nov. 14 when news of the fund's registration appeared here. Well, we've come a long way since then with a TD minimum of $2000!
I have a call in to my contact at Driehaus and will ask about "retail money" and some other items about the fund.
Best to all.

Jeff was recommending the gold miners in November, 2012. He rode them all the way down and is now riding them up, but he is still way under water. In November, 2012, GDX was 45.93 and it is now 30.57.
http://blogs.barrons.com/stockstowatchtoday/2012/11/30/gundlach-likes-gold-miners-and-hes-not-alone/
Of course, you will never read about his bad forecasts in the media, es[pecially from Reuters. They are afraid to point out his bad forecasts because he may not give them interviews any more.

FYI: Jeffrey Gundlach, the chief executive of DoubleLine Capital, said on Wednesday that gold remains the best investment amid fears of instability in the European Union and prolonged global stagnation, as well as concerns over the effectiveness of central bank policies.
Regards,
Ted
http://www.reuters.com/article/us-funds-doubleline-gundlach-idUSKCN0ZM25Z
(As Of 7/5/16)
GLD: 27.61% YTD
SLV: 43.90% YTD
CEF: 45.65% YTD

@claimui
TD Ameritrade requires 100K for an IRA, the same as Fido, Scottrade, and Schwab.
DRFRX

TD Ameritrade says on their site that minimums may differ from what you see because they just take the info from Morningstar. I checked with customer service about taxable accounts and the minimum is $10K so I assume this is one of those case where you need an account to see the real minimums or you have to check with them. I also checked with customer service at Fidelity, where I do have an account and the minimums are the standard $250K/$100K IRA. Schwab's public information says the same but I didn't check with customer service.
Based on the minimums other than at TD Ameritrade they're not trying to bring in a lot of retail money but I almost wonder whether they're waiting for a time that seems better for Frontier Markets and mostly keeping it for their internal purposes and institutional clients in the meantime.

FYI: If only Fed Governors and Presidents understood a little bit more about Monopoly, and a
tad less about outdated historical models such as the Taylor Rule and the Phillips Curve,
then our economy and its future prospects might be a little better off.
Regards,
Ted
https://17eb94422c7de298ec1b-8601c126654e9663374c173ae837a562.ssl.cf1.rackcdn.com/Documents/umbrella/bill gross/42143 - TL-Bill Gross Investment Outlook_July 2016.pdf

FYI: The firm, which has grown to become the world’s largest mutual fund manager by offering low-cost investments, attracted $148 billion in new client money during the first six months of 2016, surpassing its previous first-half record of $140 billion set last year, a spokesman said in an e-mail on Tuesday. In June alone, about $30 billion flooded into the firm’s mutual funds and exchange-traded products
Regards,
Ted
http://www.bloomberg.com/news/articles/2016-07-05/vanguard-attracts-record-new-money-as-investors-flock-to-passive

@claimui
TD Ameritrade requires 100K for an IRA, the same as Fido, Scottrade, and Schwab.
DRFRX

FYI: (Click On Article At Top Of Google Search)
A candid chat with Bill Nygren, who has been manager of the Oakmark Select Fund (OAKLX) since 1996. The fund ranks in the seventh percentile of large-company value funds the past 15 years. Mr. Nygren discusses finding value in today's market, what stocks to avoid, and whether the Chicago Cubs will go to the World Series.
Regards,
Ted
https://www.google.com/#q=Oakmark's+Bill+Nygren+sees+value+in+bank+stocks

Take a look at DRFRX. Short track record, do have an SMA that goes back a bit farther. Driehaus has a very good process and team. Low assets right now. Nice fit.

Anything more you can say about the Driehaus process? Not too familiar with them.

The biggest issue with the Driehaus fund is the $250K minimum investment/$100K for an IRA but if you're investing that kind of money then I'm also impressed with their approach. Is anyone aware of exceptions being made?

DRFRX is available on TD Ameritrade for a minimum of $2,000 for an IRA, with no transaction fee. Don't know about regular accounts. Might want to check with other brokerages too.
MEASX is an interesting option. Almost half of WAFMX is in Asia, if that helps with the comparison.

rjb112: I would not hesitate to take Ted's advice for now. I was put in the very same position 3 1/2 years ago, but we had not discussed investing my inheritance since we both were active investors, its how we met. He led a class on investing that I took. I chose to take on an advisor, but have since taken some out to manage on my own since I am confident I can do as well. It did give me some excellent planning and allocation plan, which I am basically following. As your friend learns more about investing and gains confidence, she can then branch out to some investments she make like better. I am not a fan of Vanguard's advisory service concept since they only will invest in their products. She may find others investments she likes. If she is does not want to have an advisor help manage right now, she may want to go to https://www.napfa.org/ and find an hourly rate advisor to help come up with a plan for the future when she is ready.

Take a look at DRFRX. Short track record, do have an SMA that goes back a bit farther. Driehaus has a very good process and team. Low assets right now. Nice fit.

The biggest issue with the Driehaus fund is the $250K minimum investment/$100K for an IRA but if you're investing that kind of money then I'm also impressed with their approach. Is anyone aware of exceptions being made?
Matthews Asia has a frontier fund, MEASX, that is not heavy on financials, still has a small asset base and has low expenses compared to other frontier funds. The only drawback in my mind is that they're focused on Asia's frontier markets, which have done very well lately, but you're not going to get broad coverage of frontier markets from this fund.
Harding Loevner also has a fund, HLMOX, which is indeed pretty heavy on financials as claimui pointed out but I think they also have a very good process and a decent team. I think it's worth some research if you're looking for broader exposure.
I'm holding WAFMX at least until we find out more about how Edgley plans to manage the fund. Hopefully the 2nd quarter commentary will give us some insight into his plans and his thought process. I also own MEASX but not HLMOX, at least so far.

In flat, overvalued, mean reverting markets, this is where tactical / quantitative processes become useful. Even the use of a strategy as simple as an empirically derived, price / moving average cross heuristic has produced risk managed alpha in the U.S. and Japan markets over a 30+ year sample. As the global environment appears to be mired in deflation, the inverse correlation of bonds to equities have continued in times of uncertainty.
https://docs.google.com/presentation/d/1Sn6BKRCKRU5tensBDFTkJXI3v2wRQ4M1bt8VoIM2Zmc/edit?usp=sharing
https://docs.google.com/presentation/d/1mdon_cto48rvs2_lKWyMWrfqSIh8K0phfe7tThle8qQ/edit?usp=sharing
https://docs.google.com/document/d/1XwZjcWy7KlSwA7xi0rax7nevIBCtW0Uu4UZFH-Hc1ns/edit?usp=sharing