DoubleLine Mortgage ETF Management Fee Lowered to 39 Basis Points from 49 BPS
DoubleLine ETF Adviser LP has reduced the management fee for the DoubleLine Mortgage ETF (NYSE Arca: DMBS) from 49 to 39 basis points of the fund's average daily net asset value. The ETF, launched in 2023, primarily invests in residential mortgage-backed securities (RMBS), aiming to outperform the Bloomberg US Mortgage-Backed Securities Index. The fee reduction comes as a result of the fund's growth in net assets, allowing DoubleLine to pass on operating efficiencies to investors.
The Mortgage ETF is actively managed by a team led by Jeffrey Gundlach, Vitaliy Liberman, and Ken Shinoda. It focuses on high-quality RMBS, including both Agency and non-Agency MBS, with the flexibility to invest in other fixed income securities. The fund's portfolio duration is typically managed within two years of its benchmark.
DoubleLine ETF Adviser LP ha ridotto la commissione di gestione per il DoubleLine Mortgage ETF (NYSE Arca: DMBS) da 49 a 39 punti base del valore medio giornaliero degli attivi netti del fondo. L'ETF, lanciato nel 2023, investe principalmente in titoli garantiti da mutui résidentali (RMBS), con l'obiettivo di superare l'Indice Bloomberg US Mortgage-Backed Securities. La riduzione della commissione è il risultato della crescita degli attivi netti del fondo, permettendo a DoubleLine di trasferire l'efficienza operativa agli investitori.
L'ETF per mutui è gestito attivamente da un team guidato da Jeffrey Gundlach, Vitaliy Liberman e Ken Shinoda. Si concentra su RMBS di alta qualità, inclusi sia MBS delle agenzie che MBS non agenziali, con la flessibilità di investire in altri titoli a reddito fisso. La durata del portafoglio del fondo è tipicamente gestita entro due anni dal suo benchmark.
DoubleLine ETF Adviser LP ha reducido la tarifa de gestión del DoubleLine Mortgage ETF (NYSE Arca: DMBS) de 49 a 39 puntos básicos del valor neto medio diario de los activos del fondo. El ETF, lanzado en 2023, invierte principalmente en títulos respaldados por hipotecas residenciales (RMBS), con el objetivo de superar el Índice Bloomberg de Títulos Respaldados por Hipotecas de EE. UU. La reducción de tarifas es el resultado del crecimiento de los activos netos del fondo, lo que permite a DoubleLine transferir eficiencias operativas a inversores.
El ETF de hipotecas es gestionado activamente por un equipo liderado por Jeffrey Gundlach, Vitaliy Liberman y Ken Shinoda. Se centra en RMBS de alta calidad, incluidos tanto MBS de agencias como MBS no de agencias, con la flexibilidad de invertir en otros valores de renta fija. La duración de la cartera del fondo se gestiona generalmente dentro de dos años de su índice de referencia.
DoubleLine ETF Adviser LP는 DoubleLine Mortgage ETF (NYSE Arca: DMBS)의 관리 수수료를 49에서 39 베이시스 포인트로 줄였습니다. 이 ETF는 2023년에 출시되었으며, 주로 주택담보대출 증권 (RMBS)에 투자하여 Bloomberg 미국 주택 담보 대출 증권 지수를 초과하는 성과를 목표로 합니다. 수수료 인하는 펀드의 순자산 증가에 따른 결과로, DoubleLine이 운영 효율성을 투자자에게 전달할 수 있게 되었습니다.
모기지 ETF는 Jeffrey Gundlach, Vitaliy Liberman, Ken Shinoda가 이끄는 팀에 의해 적극적으로 관리됩니다. 이는 고품질 RMBS에 중점을 두고 있으며, 에이전시 및 비에이전시 MBS를 모두 포함하며, 다른 고정 수입 증권에 투자할 수 있는 유연성을 가지고 있습니다. 펀드 포트폴리오의 기간은 일반적으로 벤치마크로부터 2년 이내로 관리됩니다.
DoubleLine ETF Adviser LP a réduit les frais de gestion du DoubleLine Mortgage ETF (NYSE Arca : DMBS) de 49 à 39 points de base de la valeur nette quotidienne moyenne des actifs du fonds. L'ETF, lancé en 2023, investit principalement dans des titres adossés à des prêts hypothécaires résidentiels (RMBS), visant à surpasser l'Indice Bloomberg US Mortgage-Backed Securities. La réduction des frais résulte de la croissance des actifs nets du fonds, permettant à DoubleLine de transmettre son efficacité opérationnelle aux investisseurs.
L'ETF hypothécaire est géré activement par une équipe dirigée par Jeffrey Gundlach, Vitaliy Liberman et Ken Shinoda. Il se concentre sur des RMBS de haute qualité, y compris à la fois des MBS d'agences et des MBS non-agences, avec la flexibilité d'investir dans d'autres titres à revenu fixe. La durée du portefeuille du fonds est généralement gérée dans les deux ans suivant son indice de référence.
DoubleLine ETF Adviser LP hat die Verwaltungsgebühr für den DoubleLine Mortgage ETF (NYSE Arca: DMBS) von 49 auf 39 Basispunkte des durchschnittlichen täglichen Nettovermögenswerts des Fonds gesenkt. Der 2023 gestartete ETF investiert hauptsächlich in wohnungsfinanzierte Wertpapiere (RMBS), mit dem Ziel, den Bloomberg US Mortgage-Backed Securities Index zu übertreffen. Die Gebührenreduzierung ist das Ergebnis des Wachstums des Nettovermögens des Fonds, was es DoubleLine ermöglicht, betriebliche Effizienz an die Investoren weiterzugeben.
Der Mortgage ETF wird aktiv von einem Team unter der Leitung von Jeffrey Gundlach, Vitaliy Liberman und Ken Shinoda verwaltet. Er konzentriert sich auf hochwertige RMBS, einschließlich sowohl Agency- als auch Non-Agency-MBS, mit der Flexibilität, in andere festverzinsliche Wertpapiere zu investieren. Die Duration des Fondsportfolios wird typischerweise innerhalb von zwei Jahren seines Referenzwertes verwaltet.
- Management fee reduced from 49 to 39 basis points, potentially improving returns for investors
- Fund's growth in net assets since 2023 launch indicates positive investor interest
- Experienced portfolio management team led by industry veterans
- None.
Insights
The reduction in management fees for the DoubleLine Mortgage ETF from
The fee reduction for DoubleLine Mortgage ETF reflects a broader trend in the ETF industry towards lower costs. This move positions the fund more competitively, especially in the mortgage-backed securities (MBS) space. The timing is strategic, given the current interest rate environment and potential for increased activity in the mortgage market. The fund's focus on high-quality RMBS, including both Agency and non-Agency MBS, offers investors a specialized exposure that could be attractive in the current economic climate. The flexibility in duration management (within two years of the benchmark) provides the managers with tools to navigate interest rate changes. However, investors should be aware that while lower fees are beneficial, the fund's performance will ultimately depend on the managers' ability to execute their strategy effectively in a complex and evolving mortgage market.
DoubleLine Mortgage ETF (or "Mortgage ETF") is an exchange-traded fund actively invested by DoubleLine primarily in residential mortgage-backed securities. The fund's objective is to seek total return (capital appreciation and current income) which exceeds the total return of its benchmark, the Bloomberg US Mortgage-Backed Securities Index, over a full market cycle.
"With the Mortgage ETF's growth in net assets since the fund's launch in 2023," DoubleLine President Ron Redell said, "the team at DoubleLine is pleased to pass on part of the resulting operating efficiencies to fund investors."
The Mortgage ETF invests primarily in high-quality residential mortgage-backed securities (RMBS), allocating between government-backed Agency mortgage-backed securities (MBS) and non-Agency MBS. Interest rate, credit and prepayment risks are managed with the goal of delivering enhanced risk-adjusted returns through changing interest-rate and economic environments.
Portfolio managers of the Mortgage ETF are Jeffrey Gundlach, founder, Chief Executive Officer and Chief Investment Officer of DoubleLine; Vitaliy Liberman, Portfolio Manager overseeing DoubleLine's Agency MBS team; Ken Shinoda, Chairman of the firm's Structured Products Committee and Portfolio Manager overseeing the non-Agency RMBS team.
Although under normal circumstances the Mortgage ETF invests primarily in residential mortgage securities deemed to be rated investment grade (i.e., securities rated Baa3/BBB- or higher) at the time of purchase, the Mortgage ETF may also invest in certain other fixed income securities, including derivatives,
DoubleLine has broad discretion to manage the Mortgage ETF's portfolio duration; however, the investment team expects normally to construct an investment portfolio with a
For more information on the Mortgage ETF, please visit this page: https://doubleline.com/funds/mortgage-etf/ For information on all the DoubleLine ETFs, please visit the following web page: https://doubleline.com/doubleline-exchange-traded-funds/#products
About DoubleLine
DoubleLine ETF Adviser LP, adviser to the DoubleLine Mortgage ETF, is an investment adviser registered under the Investment Advisers Act of 1940. DoubleLine's offices can be reached by telephone at (813) 791-7333 or by email at ETFinfo@doubleline.com. Media can reach DoubleLine by email at media@doubleline.com. DoubleLine® is a registered trademark of DoubleLine Capital LP.
The Fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus contain this and other important information about the investment company and may be obtained by calling (855) 937-0772 or visiting www.doubleline.com. Read them carefully before investing.
Risk Disclosure
Investing involves risk. Principal loss is possible. Equities may decline in value due to both real and perceived general market, economic and industry conditions.
ETF investments involve additional risks such as the market price trading at a discount to its net asset value, an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a fund's ability to sell its shares.
Investments in debt securities change in value because of changes in interest rates. The value of an instrument with a longer duration (whether positive or negative) will be more sensitive to changes in interest rates than a similar instrument with a shorter duration. There is the risk that the Fund may be unable to sell a portfolio investment at a desirable time or at the value the Fund has placed on the investment. Illiquidity may be the result of, for example, low trading volume, lack of a market maker, or contractual or legal restrictions that limit or prevent the Fund from selling securities or closing derivative positions. There is risk that borrowers may default on their mortgage obligations or the guarantees underlying the mortgage-backed securities will default or otherwise fail and that, during periods of falling interest rates, mortgage-backed securities will be called or prepaid, which may result in the Fund having to reinvest proceeds in other investments at a lower interest rate. Derivatives involve special risks including correlation, counterparty, liquidity, operational, accounting and tax risks. These risks, in certain cases, may be greater than the risks presented by more traditional investments.
The Fund is a "non-diversified" investment company and therefore may invest a greater percentage of its assets in the securities of a single issuer or a limited number of issuers than funds that are "diversified." Accordingly, the Fund is more susceptible to risks associated with a single economic political or regulatory occurrence than a diversified fund might be.
DoubleLine ETFs are distributed by Foreside Fund Distributors, LLC. DoubleLine® is a registered trademark of DoubleLine Capital LP.
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SOURCE DoubleLine
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