DoubleLine Ultra Short Bond Fund
Data updated: 2022-08-23
C000170951 — DoubleLine Ultra Short Bond Fund. Leveraged · $7.80M AUM · 0.51% expense ratio · -1.2% 1-yr return. Holdings, fees, performance and SEC filings.
C000170951 Fund Overview
DoubleLine Ultra Short Bond Fund is a US mutual fund managed by DoubleLine Funds Trust, categorised as Leveraged. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: DoubleLine Funds Trust
- Category: Leveraged
- Assets under management: $7.80M
- 1-year return: -1.2%
- SEC CIK: 0001480207
- SEC series ID: S000054429
- Share class ID: C000170951
C000170951 Investment Objective and Strategy
DoubleLine Ultra Short Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by DoubleLine Funds Trust.
Investment objective
The Fund’s investment objective is to seek to provide a level of current income consistent with limited price volatility.
Principal investment strategy
The Fund seeks to provide a level of current income consistent with limited price volatility by investing principally in investment grade, U.S. dollar-denominated debt instruments, including bank obligations, commercial paper, asset-backed commercial paper, and repurchase agreements. The Fund may also invest in certificates of deposit, time deposits, debentures and discount notes issued by agencies of the U.S. Government, pre-refunded bonds, including pre-refunded municipal bonds, corporate debt obligations, mortgage-backed securities of any maturity or type that are issued by, guaranteed by, or secured by collateral that is guaranteed by the United States Government, its agencies, instrumentalities or sponsored corporations, other asset-backed securities of any maturity or type, including those issued by private issuers and not subject to any government guarantee or credit support, dollar-denominated foreign securities (corporate and government), inflation-indexed bonds, income-producing securitized products, preferred securities, and other instruments bearing fixed or variable interest rates of any maturity.
The Fund is not a money market fund and does not seek to maintain a stable net asset value of $1.00 per share. Accordingly, the Fund is not subject to the credit quality, liquidity, diversification or other limitations imposed on money market funds by Rule 2a-7 under the 1940 Act. The Adviser will normally seek to construct an investment portfolio for the Fund with a dollar-weighted average effective duration of one year or less. Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a securitys price to changes in interest rates. For example, the value of a portfolio of fixed income securities with an average duration of one year would generally be expected to decline by approximately 1% if interest rates rose by one percentage point.
Effective duration is a measure of the Funds portfolio duration adjusted for the anticipated effect of interest rate changes on bond and mortgage pre-payment rates as determined by the Adviser. The effective duration of the Funds investment portfolio may vary significantly from time to time, and there is no assurance that the effective duration of the Funds investment portfolio will not exceed one year. The Fund may invest in obligations of any maturity, but will principally invest in debt obligations with a maturity of 397 days or less. Under normal circumstances, the Fund intends to invest only in fixed income and other income-producing instruments rated investment grade and unrated securities considered by the Adviser to be of comparable credit quality. The Funds dollar-weighted average credit quality will vary over time based on, among other things, market conditions, the Advisers investment views and expectations for market conditions, and changes in an issuers credit rating or credit quality.
Obligations of companies in the financial services sector may constitute a significant portion or substantially all of the Funds portfolio securities. The Adviser monitors the duration of the Funds portfolio securities to seek to assess and, in its discretion, adjust the Funds exposure to interest rate risk. The Adviser may seek to manage the dollar-weighted average effective duration of the Funds portfolio through the use of derivatives and other instruments (including, among others, inverse floaters, futures contracts, U.S. Treasury swaps, interest rate swaps and total return swaps). The Fund may incur costs in implementing duration management strategies, and there can be no assurance that the Fund will engage in duration management strategies or that any duration management strategy employed by the Fund will be successful.
Under normal circumstances, the Fund intends to invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in bonds. Bonds include bonds, debt securities and fixed income and income-producing instruments of any kind issued by governmental or private-sector entities. Most bonds consist of a security or instrument having one or more of the following characteristics: a fixed-income security, a security issued at a discount to its face value, a security that pays interest, whether fixed, floating or variable, or a security with a stated principal amount that requires repayment of some or all of that principal amount to the holder of the security. The Adviser interprets the term bond broadly as an instrument or security evidencing what is commonly referred to as an IOU rather than evidencing the corporate ownership of equity unless that equity represents an indirect or derivative interest in one or more debt securities.
The Fund may pursue its investment objective and obtain exposures to some or all of the asset classes described above by investing in other investment companies, including, for example, other open-end or closed-end investment companies, such as money market funds, and including investment companies sponsored or managed by the Adviser or its related parties. The amount of the Funds investment in certain investment companies may be limited by law or by tax considerations.
C000170951 Holdings
Top 10 holdings of DoubleLine Ultra Short Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Morgan Stanley Institutional L | 3.70% |
| JPMorgan US Government Money M | 3.70% |
| First American Government Obli | 3.70% |
| Total Cap Cda Ltd. U S Dlr D N | 2.75% |
| Shell Intl Fin B V | 2.75% |
| Fannie Mae | 2.13% |
| Komatsu Finance America, Inc. | 1.92% |
| Glaxosmithkline Fin | 1.91% |
| Federal Home Loan Bank | 1.70% |
| Federal Home Loan Bank | 1.70% |
C000170951 Portfolio Allocation
Asset-class allocation of DoubleLine Ultra Short Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 65.5% |
| Cash & Equivalents | 34.5% |
C000170951 Performance
Total returns for C000170951 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -1.2% |
| 3 years (annualised) | 0.2% |
C000170951 Risk Information
Risk metrics for C000170951, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 0.4%
C000170951 Costs and Fees
C000170951 costs about $51 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.51%
- Gross expense ratio: 0.51%
- Portfolio turnover: 41%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000170951 Cashflows
Over the 12 months to 2022-06, DoubleLine Ultra Short Bond Fund had net inflows of $246.83M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-06 | $4.38M |
| 2022-05 | $2.52M |
| 2022-04 | $8.60M |
| 2022-03 | $4.39M |
| 2022-02 | $6.13M |
| 2022-01 | $4.46M |
C000170951 Debt Constituents
Largest debt holdings of DoubleLine Ultra Short Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Fannie Mae | 2.13% |
| Federal Home Loan Bank | 1.70% |
| Federal Home Loan Bank | 1.70% |
| Santander UK PLC | 1.65% |
| Bristol-Myers Squibb Co. | 1.45% |
| JPMorgan Chase & Co. | 1.45% |
| Goldman Sachs Group, Inc. | 1.45% |
| Credit Suisse New York | 1.40% |
| Morgan Stanley | 1.38% |
| Bank Of Montreal | 1.36% |
C000170951 Prospectus and SEC Filings
Official DoubleLine Ultra Short Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-07-28
- Prospectus (485BPOS) — filed 2020-08-14
- Prospectus supplement (497) — filed 2020-05-19
- Portfolio holdings (N-PORT) — filed 2022-08-23
- Portfolio holdings (N-PORT) — filed 2022-05-31
- Portfolio holdings (N-PORT) — filed 2022-02-28
- Annual census (N-CEN) — filed 2022-06-09
- Annual census (N-CEN) — filed 2021-06-11
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Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.