DLTNX versus DLFNX. @JohnChisum @Crash et al
Linked
chart for DLFNX vs DLTNX
Linked
chart for for DLFNX vs DLTNX vs PONDX
In both cases with these charts, this is an active site link. Being that you may add and/or remove the tickers for your own comparative use. Save the site/chart link for future use for any compares. ALSO NOTE, that these charts do include "total returns" inclusive of dividends, cap. gains, etc.
ALSO, left click at the left edge of the 200 day slider (default setting) and drag the slider to the left for about a
1150 business day view. NOTE the "temper tantrum" period that came into place in May of 20
13 when the Fed stated that they were going to remove some of the easy money. One may also view any 200 day period (not available for very new funds, stocks) with holding a left click onto the 200 day slider and dragging the slider to the left for earlier periods. The slider can be reduced to about 2 days and to much earlier start dates, depending upon the age of what is being viewed.
We looked at DoubleLine when they were first born, but maintained our PONDX holding, which later evolved into a PIMIX holding.
Active management is going to cause any of these "multi-sector" funds to travel different paths, yes?
An alternative for the "build your own" would be to hold equal amounts of about 5 or 6 etfs in bond areas of your choice.
Take care,
Catch
For Healthcare Investors, A Medical Breakthrough ETF.
10 Things Investors Won't Tell You
DLTNX versus DLFNX. I guess I should not have said very similar, but they both have similar characteristics. I used Lipper for comparison. Both hold GNMA's as their biggest holding. Total Return has about twice the percentage of GNMA as Core Fixed Income. DLFNX has a variety of Treasuries and then Corporates. DLTNX has Treasuries and then Asset-Back Securities. DLFNX has a bit more duration.
The ratings for DLFNX are lower than for DLTNX. That must be behind as it looks like DLFNX beat the other slightly last year. AUM for DLTNX is around $40 billion, while DLFNX has around $3 billion.
Thanks
@mrc70 for that breakdown as well. As
@Crash noted, DLFNX seems to be more spread out asset wise. It should be said that these funds are changing all the time. M* (with grains of salt) shows a somewhat different allocation as of
12.30.20
14. Both have increased their cash allocation.
M* lists both as Intermediate Bond. Lipper categorizes DLTNX as a Mortgage Bond fund while DLFNX is listed as Core Plus Bond.
Thanks to both of you for your comments.
DLTNX versus DLFNX. Here is the sector break down as of 11/2014 according to Double line
DLFNX
Cash 9.1%
Government 17.7%
Mortgage-Backed Securities 29.6%
Emerging Markets 13.4%
Investment Grade Corporate 10.2%
Commercial Mortgage-Backed Securities 6.6%
Bank Loans 5.0%
High Yield Corporate 4.5%
Collateralized Loan Obligations 3.9%
Total 100.0%
DLTNX
Cash 12.1%
Treasury 5.1%
Agency Passthroughs 24.1%
Agency CMO 21.3%
Non Agency Residential MBS 25.5%
Commercial MBS 6.4%
Collateralized Loan Obligations 4.8%
Other 0.6%
Total 100.0%
Loeb King Closing Doors, Shutting Two Mutual Funds.
Why do Active managers buy Passive ETF's - Pear Tree Polaris Foreign Value Small Cap? Hi Maurice,
Great question!
I have no special access or insights into the QUSIX strategy sessions, so I can offer only some speculative guesstimates.
The QUSIX overarching evaluation and selection process is a multi-.stage, disciplined, and bottom-up approach. It starts with a huge candidate base and critically sorts and eliminates these candidates to under 100 holdings.
It holds a cash reserve or a cash equivalent. Given the near zero current cash returns, I suspect their ETF position is their cash equivalent. They anticipate a positive foreign small cap return in excess of a pure cash position. So do I.
At the present time, the decision team can not identify an alternate holding that satisfies their criteria. When it does, they will use their ETF holding to purchase it. A less than 4% cash equivalent reserve is not too outlandish.
For what it's worth, that's my uninformed guesstimate.
Thank you for your question.
Best Wishes.
RiverPark Strategic Income Fund (RSIVX) 4th Quarter Letter Thanks, Mike. Frankly, I'd forgotten it is once again time to start looking for these reports. As a holder who continues to build position in RSIVX, I was pleasantly surprised to see that this fund does have the ability to play some pretty good defense (as demonstrated in 2H2014), without compromising yield.
For those not invested with Sherman, but who are paying increasing attention to HY debt re. oil and gas credits, there may be some material here that would hold your interest. Several pages are devoted exclusively to this topic, and it is used as the core topic around which a broader discussion of HY credits and RSIVX investments is elaborated.
Junkster give my $500 to charity Do you have an exit point or strategy? Would you let a profitable trade turn into a losing one or willing to give back the majority of your profits?
Junkster,
My thought is that this situation will last for at least
1 year and maybe as long as 4. It will take some time for people to recognize/admit the deflationary pressure.
HYD's all time high is 33.57, now 3
1.34. I will be watching that high and as/if we get close to it I would consider changing the dividends from re-investing to cash. Then watch to sell. Other things I would be watching is the yield on the
10 year and the US$. I really think with the relative high
10 year rate and the strong $ the USA will be importing deflation. The FED would make the situation worse by raising rates.
I'm watching the $ because it high yield foreign bonds might be a good buy on $ strength.
Many of those analysist have pushed their est for a FED increase to the 3rd quarter.
