DLY vs VOO
DoubleLine Yield Opportunities Fund vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | DLY | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 3.38% | 0.03% | |
| AUM | $735M | $979.0B | |
| Dividend Yield | 9.24% | 1.09% | |
| Holdings | 490 | 509 | |
| YTD Return | +2.84% | +13.79% | |
| 1Y Return | +1.26% | +23.01% | |
| 3Y Return (annualized) | +7.27% | +21.78% | |
| 5Y Return (annualized) | +2.53% | +13.39% | |
| Volatility (annualized) | 13.3% | 14.1% | |
| Max Drawdown | -28.6% | -34.3% | |
| Fund Family | DoubleLine Funds | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Feb 26, 2020 | Sep 7, 2010 |
DLY vs VOO Performance
DoubleLine Yield Opportunities Fund (DLY) is a ETF from DoubleLine Funds and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year DLY returned +1.26% while VOO returned +23.01%. Year to date, DLY is up 2.84% versus a gain of 13.79% for VOO.
Over three years, DLY compounded at +7.27% per year against +21.78% for VOO; over five years the annualized figures are +2.53% and +13.39% respectively. Across the full 7-year window we track, VOO has the edge at +13.57% annualized vs +2.26%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 13.3% for DLY. 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 -28.6% for DLY and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DLY charges 3.38% per year while VOO charges 0.03%. On a $10,000 position that is $338 vs $3 annually, a gap of $335 per year that compounds over a long holding period. On income, DLY currently yields 9.24% against 1.09% for VOO.
Holdings Overlap
DLY and VOO share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DLY or VOO?
DLY has an expense ratio of 3.38% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $335 per year of difference.
Which performed better, DLY or VOO?
Over the past year DLY returned +1.26% vs +23.01% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (7 years), DLY annualized +2.26% vs +13.57% for VOO. Past performance does not guarantee future results.
Which is riskier, DLY or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 13.3% for DLY. Worst drawdown: DLY -28.6% vs VOO -34.3%.
Should I hold both DLY and VOO?
DLY and VOO have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DLY and VOO?
DLY and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, DLY or VOO?
DLY yields 9.24% while VOO yields 1.09%, so DLY currently pays the higher dividend yield.
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