DoubleLine Multi-Asset Trend Fund

C000225833 Fund Overview

DoubleLine Multi-Asset Trend Fund is a US mutual fund managed by DoubleLine Funds Trust, categorised as United States Multi-Cap / All-Cap Equity. 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: United States Multi-Cap / All-Cap Equity
• Assets under management: $9.88M
• 1-year return: -2.4%
• SEC CIK: 0001480207
• SEC series ID: S000071135
• Share class ID: C000225833

C000225833 Investment Objective and Strategy

DoubleLine Multi-Asset Trend Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by DoubleLine Funds Trust.

Investment objective

The Funds investment objective is to seek total return (capital appreciation and current income) which exceeds the total return of its benchmark index over a full market cycle. The Funds current benchmark index is the Credit Suisse Managed Futures Liquid Total Return USD Index.

Principal investment strategy

The Fund seeks total return (capital appreciation and current income) which exceeds the total return of its benchmark index over a full market cycle. The Funds current benchmark index is the Credit Suisse Managed Futures Liquid Total Return USD Index, which was selected as a measure of the performance of a number of trend following investment strategies. Trend following is an investment approach that seeks to invest in a manner that will benefit from persistent trends in price movements, whether that trend is the appreciation or depreciation of an assets value. With a portion of its assets, the Fund will seek to use derivatives, or a combination of derivatives and direct investments, to provide a return that approximates, before fees and expenses, the performance of the BNP Paribas Multi-Asset Trend Index (the Index ).

The Index has been designed to seek investment exposure to trends in price movements of a broad universe of assets across different markets, including domestic, foreign and emerging market equities, sovereign bonds and other debt securities, interest rates, currencies and commodities (e.g., energy and precious and industrial metals). The Index was selected, in significant part, because it reflects trend following strategies using a broadly diversified set of investments. The Funds investment adviser believes an investment program that includes exposure to the Index as well as the other investments described below provides the potential to earn incremental return that is not highly correlated with the performance of traditional investment strategies and asset classes. The Fund will separately invest in a portfolio of debt securities to seek to provide additional total return over the long term.

The Fund may invest directly in debt instruments or it may invest all or a portion of the Funds assets in one or more fixed income funds advised by DoubleLine Capital LP ( DoubleLine Capital ) or a related party of DoubleLine Capital. The Fund uses investment leverage as part of its principal investment strategies. The Fund expects normally to invest an amount approximately equal to its net assets in a portfolio of debt securities while also maintaining notional exposure to the Index, providing the Fund with economic exposure to the Index in an amount up to the value of the Funds net assets. As a result, the Funds total investment exposure (investments in debt securities plus notional exposure to the Index) will typically be equal to approximately 200% of the Funds net asset value ( NAV ).

It is possible that the Fund could lose money on both its investments in debt securities and its exposure to the Index at the same time. The Fund intends to use derivatives in an attempt to create an investment return that approximates (before fees and expenses) the Indexs return. The Fund will use primarily swap transactions, although the Fund may also use futures transactions, where the reference asset is the Index or a modified version of the Index, one or more components of the Index, or an unrelated index or basket of securities. Please see Index Risk Note regarding Index-Based Swaps in the Funds Prospectus for more information. The Fund expects to use only a small percentage of its assets to attain the desired exposure to the Index because of the structure of the derivatives the Fund will use.

As a result, use of those derivatives, combined with the Funds investments in a portfolio of debt securities, will create investment leverage in the Funds portfolio. In certain cases, derivatives based on the Index or that use the Index as the reference asset might be unavailable or the pricing of those derivatives might be unfavorable; in those cases, the Fund may attempt to approximate the Indexs return by purchasing some or all of the components of the Index, or portions of the Index, at the time. To the extent use of the above-described derivatives strategy leaves a substantial portion of the Funds assets available for other investment by the Fund, the Fund will invest those assets in a portfolio of debt instruments managed by DoubleLine Capital, the Funds sub-adviser, to seek to provide additional total return over the long term.

References to the Adviser in this section and in Principal Risks below shall refer to DoubleLine Alternatives, the Funds investment adviser, except in the case of the discussion of the Funds principal investment strategies and principal risks that relate to investing directly in debt securities, in which cases Adviser shall refer to DoubleLine Capital, the sub-adviser to the Fund and the entity primarily responsible for the day-to-day management of the Funds fixed income portfolio. The BNP Paribas Multi-Asset Trend Index. The Index is an index the performance of which is designed to reflect exposure to a diverse range of asset classes and geographic regions, weighted based on performance trends and historical volatility. These asset classes and instruments include equities, bonds, commodities, foreign exchange rates and credit default swap instruments.

The asset classes are represented in the Index by futures contracts on 19 domestic, foreign and emerging market equity indices, 15 developed market interest rates, 13 commodities (including energy and precious and industrial metals), and 7 developed market currencies, as well as 4 credit indices (each an Index Component ). The Indexs composition is determined daily based on historical trends in the price or level of each Index Component, the short-term and long-term variance of the Index Components, and the covariance between the Index Components, all subject to weighting constraints and a targeted volatility level for the Index of 8%. The Index is denominated in U.S. dollars ( USD ). For all Index Components that are not denominated in USD, non-U.S. currencies will be converted to USD for purposes of determining the composition of the Index.

The calculation of the level of the Index is reduced by a number of assumed expenses; see footnote 1 to the Funds table entitled Annual Fund Operating Expenses in the Fund Summary. If derivatives designed to provide the Fund a return approximating the Indexs return become unavailable or cost prohibitive or DoubleLine Alternatives determines against investing in them for any reason, DoubleLine Alternatives may seek investment exposure to the asset classes and instruments comprising the Index by investing directly in some or all of the components of the Index or in other investments that, in DoubleLine Alternatives view, provide similar investment exposure to that provided by one or more components of or asset classes represented in the Index. DoubleLine Alternatives or the Funds Board of Trustees may in their sole discretion and without advance notice to shareholders select, in place of the Index, another trend following index or a basket of investments.

The Fund may gain exposure to any substitute index or basket of investments in any manner DoubleLine Alternatives determines appropriate, including those described above with respect to how the Fund may obtain exposure to the Index. The Fund intends to invest only a portion of its assets to obtain exposure to the Index; the Funds overall portfolio is not designed to replicate the performance of any index. Even if the Funds investments in derivative instruments perform in-line with the Index, the Funds performance will deviate, potentially significantly, from the performance of any index used by the Fund because of, among other factors, the performance of the Funds investments in fixed income instruments and the investment, operational and other expenses that the Fund incurs. The Fund will likely enter into swap transactions related to the Index with a limited number of counterparties for the foreseeable future and, until the Fund grows significantly, the Fund expects to obtain exposure to the Index through swap transactions with a single counterparty, BNP Paribas.

The Funds Investments in Debt Instruments. Under normal circumstances, to the extent use of the above-described derivatives strategy leaves a substantial portion of the Funds assets available for other investment by the Fund, the Fund intends to invest those assets in a portfolio of debt instruments managed by DoubleLine Capital to seek to provide additional total return over the long term. The Fund expects that it will, at least initially, invest all or substantially all of its cash available for investment in debt securities in one or more fixed income funds advised by DoubleLine Capital, including DoubleLine Low Duration Bond Fund, DoubleLine Floating Rate Fund, and/or DoubleLine Income Fund. As the Fund achieves greater scale, the Fund expects to invest to a greater extent directly in debt instruments.

Debt instruments in which the Fund may invest include, by way of example, (i) securities or other income-producing instruments issued or guaranteed by the U.S. Government, its agencies, instrumentalities or sponsored corporations (including inflation-protected securities); (ii) corporate obligations; (iii) mortgage-backed securities (including commercial and residential mortgage-backed securities) and other asset-backed securities, collateralized mortgage obligations, government mortgage pass-through securities, multiclass pass-through securities, private mortgage pass-through securities, stripped mortgage securities ( e.g. , interest-only and principal-only securities), and inverse floaters; (iv) collateralized debt obligations ( CDOs ), including collateralized loan obligations ( CLOs ); (v) foreign securities (corporate and government, including foreign hybrid securities), including emerging market securities; (vi) fixed and floating rate loans of any kind (including, among others, bank loans, assignments, participations, senior loans, second lien or other subordinated or unsecured fixed or floating rate loans, debtor-in-possession loans, exit facilities, delayed funding loans and revolving credit facilities), which may take the form of loans that contain fewer or less restrictive constraints on the borrower than certain other types of loans (covenant-lite loans); (vii) municipal securities and other debt obligations issued by states, local governments, and government-sponsored entities, including their agencies, authorities, and instrumentalities; (viii) inflation-indexed bonds; (ix) convertible securities; (x) preferred securities; (xi) real estate investment trust ( REIT ) securities; (xii) payment-in-kind bonds; (xiii) zero-coupon bonds; (xiv) custodial receipts, cash and cash equivalents; (xv) short-term, high quality investments, including, for example, commercial paper, bankers acceptances, certificates of deposit, bank time deposits, repurchase agreements, and investments in money market mutual funds or similar pooled investments; and (xvi) other instruments bearing fixed, floating, or variable interest rates of any maturity.

The Fund may invest in any level of the capital structure of an issuer of mortgage-backed or asset-backed securities, but does not intend to invest in the equity or first loss tranche of such investments. In managing the Funds portfolio of debt instruments, under normal market conditions, the portfolio managers will seek to construct an investment portfolio with an overall dollar-weighted average effective duration of between one year and three years. 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. Effective duration is a measure of the Funds portfolio duration adjusted for the anticipated effect of interest rate changes on bond and mortgage prepayment rates as determined by DoubleLine Capital.

The longer a portfolios effective duration, the more sensitive it will be to changes in interest rates.

C000225833 Holdings

Top 8 holdings of DoubleLine Multi-Asset Trend Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000225833 holdings

C000225833 Portfolio Allocation

Asset-class allocation of DoubleLine Multi-Asset Trend Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000225833 Performance

Total returns for C000225833 (as of 2026-10-01), from SEC filings.

C000225833 Risk Information

Risk metrics for C000225833, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 8.2%

C000225833 Costs and Fees

C000225833 costs about $72 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.72%
• Gross expense ratio: 1.79%
• Portfolio turnover: 17%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000225833 Cashflows

Over the 12 months to 2024-12, DoubleLine Multi-Asset Trend Fund had net outflows of $1.98M, from monthly SEC N-PORT filings.

C000225833 Debt Constituents

Largest debt holdings of DoubleLine Multi-Asset Trend Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000225833 Prospectus and SEC Filings

Official DoubleLine Multi-Asset Trend Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2024-07-19
• Prospectus (485BPOS) — filed 2023-07-26
• Prospectus (485BPOS) — filed 2022-07-28
• Portfolio holdings (N-PORT) — filed 2025-02-28
• Portfolio holdings (N-PORT) — filed 2024-11-27
• Portfolio holdings (N-PORT) — filed 2024-08-29
• Annual census (N-CEN) — filed 2024-06-12
• Annual census (N-CEN) — filed 2023-06-07

Related Funds

Other United States Multi-Cap / All-Cap Equity funds tracked on ABC INVEST:

• Vanguard Total World Bond ETF (BNDW)
• American Funds Preservation Portfolio (PPEFX)
• iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW)
• Aptus Defined Risk ETF (DRSK)
• Goldman Sachs Strategic Volatility Premium Fund (SVPFX)

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.