DoubleLine Multi-Sector Income ETF Launches on NYSE Arca Exchange
DoubleLine Multi-Sector Income ETF (DMX) launched on NYSE Arca, focusing on corporate and securitized credit investments. The actively managed ETF is led by Portfolio Managers Robert Cohen and Ken Shinoda, supported by 71 investment professionals. The Fund aims to deliver income and capital appreciation through bottom-up security selection and top-down sector allocation, investing in various fixed income sectors including corporate debt, bank loans, RMBS, CMBS, ABS, and CLOs. The Fund can invest in securities of any credit quality, including below investment grade, and may concentrate significantly in single sectors. This launch marks DoubleLine's seventh ETF offering.
DoubleLine Multi-Sector Income ETF (DMX) è stato lanciato su NYSE Arca, concentrandosi su investimenti in crediti aziendali e cartolarizzati. L'ETF attivamente gestito è guidato dai Portfolio Manager Robert Cohen e Ken Shinoda, supportati da 71 professionisti degli investimenti. Il Fondo punta a generare reddito e apprezzamento del capitale attraverso una selezione di titoli dal basso verso l'alto e un'allocazione settoriale dall'alto verso il basso, investendo in vari settori a reddito fisso, tra cui debito aziendale, prestiti bancari, RMBS, CMBS, ABS e CLO. Il Fondo può investire in titoli di qualsiasi qualità creditizia, inclusi quelli sotto il grado d'investimento, e può concentrare significativamente il proprio portafoglio in singoli settori. Questo lancio segna la settima offerta di ETF da parte di DoubleLine.
DoubleLine Multi-Sector Income ETF (DMX) se lanzó en NYSE Arca, enfocándose en inversiones en crédito corporativo y titulización. El ETF, gestionado activamente, está dirigido por los gestores de cartera Robert Cohen y Ken Shinoda, respaldados por 71 profesionales de la inversión. El Fondo tiene como objetivo generar ingresos y apreciación del capital a través de una selección de valores de abajo hacia arriba y una asignación sectorial de arriba hacia abajo, invirtiendo en varios sectores de renta fija, incluidos la deuda corporativa, los préstamos bancarios, RMBS, CMBS, ABS y CLO. El Fondo puede invertir en valores de cualquier calidad crediticia, incluidos aquellos por debajo del grado de inversión, y puede concentrarse significativamente en sectores individuales. Este lanzamiento marca la séptima oferta de ETF de DoubleLine.
더블라인 멀티 섹터 소득 ETF (DMX)가 NYSE Arca에서 출시되었으며, 기업 및 유동화 신용 투자에 중점을 두고 있습니다. 이 적극적으로 관리되는 ETF는 포트폴리오 매니저인 로버트 코헨과 켄 시노다에 의해 이끌어지며, 71명의 투자 전문가들에 의해 지원받습니다. 펀드는 하향식 섹터 할당 및 하향식 증권 선택을 통해 수익 및 자본 증대 목적을 달성하며, 기업 부채, 은행 대출, RMBS, CMBS, ABS 및 CLO를 포함한 다양한 고정 수입 부문에 투자합니다. 이 펀드는 투자 등급 이하를 포함한 모든 신용 품질의 증권에 투자할 수 있으며, 특정 부문에 상당히 집중할 수도 있습니다. 이번 출시는 더블라인의 일곱 번째 ETF 제안입니다.
DoubleLine Multi-Sector Income ETF (DMX) a été lancé sur NYSE Arca, se concentrant sur les investissements en crédit d'entreprise et titrisés. Cet ETF géré activement est dirigé par les gestionnaires de portefeuille Robert Cohen et Ken Shinoda, soutenus par 71 professionnels de l'investissement. Le Fonds vise à générer des revenus et une appréciation du capital grâce à une sélection de titres de bas en haut et une allocation sectorielle de haut en bas, en investissant dans divers secteurs à revenu fixe, y compris la dette d'entreprise, les prêts bancaires, RMBS, CMBS, ABS et CLO. Le Fonds peut investir dans des titres de toute qualité de crédit, y compris ceux en dessous du niveau d'investissement, et peut se concentrer de manière significative sur des secteurs individuels. Ce lancement marque la septième offre d'ETF de DoubleLine.
DoubleLine Multi-Sector Income ETF (DMX) wurde an der NYSE Arca gestartet und fokussiert sich auf Unternehmens- und verbriefte Kreditanlagen. Der aktiv verwaltete ETF wird von den Portfoliomanagern Robert Cohen und Ken Shinoda geleitet und von 71 Investitionsprofis unterstützt. Der Fonds zielt darauf ab, Einkommen und Kapitalwachstum durch eine Bottom-up-Wertpapierauswahl und eine Top-down-Sektorallokation zu erzielen, indem er in verschiedene festverzinsliche Sektoren investiert, darunter Unternehmensschulden, Bankkredite, RMBS, CMBS, ABS und CLO. Der Fonds kann in Wertpapiere jeglicher Kreditqualität investieren, einschließlich solcher unterhalb der Investment-Grade, und kann stark in einzelnen Sektoren konzentrieren. Dieser Launch markiert das siebte ETF-Angebot von DoubleLine.
- Diversified investment approach across multiple fixed income sectors
- Experienced management team with 71 investment professionals
- Flexibility to invest across credit qualities and sectors
- Expansion of DoubleLine's ETF product suite
- Potential concentration risk due to significant single-sector investment allowance
- High-risk exposure through below investment grade securities
Insights
The launch of DoubleLine's Multi-Sector Income ETF represents a strategic expansion in the fixed-income ETF space, but with immediate impact on DSL (DoubleLine Income Solutions Fund). While both target income generation, they operate as separate investment vehicles. The new ETF's flexible mandate across corporate debt, bank loans and various securitized products demonstrates DoubleLine's commitment to diversified income strategies.
The management team's expertise in both corporate credit and structured products suggests a well-rounded approach to income generation. The timing is notable, as high yields in fixed income markets currently offer attractive entry points. However, investors should note that the fund's ability to invest in below-investment-grade securities indicates a potentially higher risk profile in exchange for yield potential.
Leading the team managing the DoubleLine Multi-Sector Income ETF (or "the Fund") are its Portfolio Managers: Robert Cohen, Director of DoubleLine's Global Developed Credit team, which invests in investment grade and high yield corporate fixed-income securities, and bank debt; and Ken Shinoda, Chairman of the firm's Structured Products Committee and lead Portfolio Manager on the non–Agency Residential Mortgage-Backed Securities (RMBS) team. Integrated into the investment and risk management program of the Fund are credit teams comprising 71 investment professionals.
Messrs. Cohen and Shinoda noted the Fund will seek to deliver its investment objectives of income and capital appreciation principally through bottom-up security selection and credit underwriting as well as top-down sector allocation.
"Through individual security selection across credit markets," Mr. Cohen said, "we aim to build a portfolio that provides attractive yields and income with potentially lower volatility than one composed solely of high yield corporates."
Portfolio Managers Cohen and Shinoda see several investment roles for the Fund, including as an alternative to equities given stretched stock valuations or as a complement to core fixed-income holdings.
"The investment process begins with bottom-up credit underwriting and ends with portfolio construction," Mr. Shinoda said. "The latter takes into consideration relative value among the different sectors and builds an asset allocation based on our outlook on the economic cycle. Specialized investment teams conduct fundamental research on their respective sectors of the fixed income universe and security-level analysis. Portfolio managers construct the portfolio in an effort to contain complementary and diversified risk factors and sources of return. Security and sector exposures are repositioned through time to manage evolving risks over a market cycle."
For the DoubleLine Multi-Sector Income ETF prospectus, please click on the following link: https://pex.broadridge.com/summary.asp?doctype=pros&cid=dbline&fid=25861R709
The DoubleLine Multi-Sector Income ETF focuses on targeting securities that generate high current income. The Fund seeks to achieve its investment objectives by active asset allocation among various sectors within the fixed income markets and security selection within the selected sectors. These sectors may include, for example, corporate debt securities, bank loans, RMBS, commercial mortgage-backed securities (CMBS), asset-backed securities (ABS) and collateralized loan obligations (CLOs).
DoubleLine ETF Adviser LP, adviser to the Fund, has broad flexibility to use various investment strategies and invest in a wide variety of fixed income instruments. The Fund expects to invest significantly in one or more sectors and may at times invest primarily in a single sector. The Fund may invest in securities of any credit quality, including without limit in securities rated below investment grade.
Robert Cohen became DoubleLine's Director of Global Developed Credit in September 2016 and has been a Portfolio Manager since July 2012. He oversees investment teams managing investment grade and high yield corporate credit, as well as bank loans. Mr. Cohen is a permanent member of the Fixed Income Asset Allocation Committee and is a CFA® charterholder.
Ken Shinoda joined DoubleLine at the firm's founding in 2009. He is the Chairman of the Structured Products Committee and the lead Portfolio Manager overseeing the non–Agency RMBS team. He is a permanent member of the Fixed Income Asset Allocation Committee. He is a CFA® charterholder.
The DoubleLine Multi-Sector Income ETF brings the number of DoubleLine ETFs to seven. The other six are fixed income funds DoubleLine Opportunistic Bond ETF (ticker DBND), DoubleLine Mortgage ETF (DMBS) and DoubleLine Commercial Real Estate ETF (DCRE); equity funds DoubleLine Shiller CAPE®
"We continue to expand our ETF product suite with thoughtful investment solutions that offer our clients unique access to valuable segments of the market," DoubleLine President Ron Redell said.
For information on all 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 Multi-Sector Income 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.
A fund's investment objectives, risks, charges, and expenses must be considered carefully before investing. The statutory prospectus and summary prospectus (if available) contain this and other important information about the fund and may be obtained by clicking here. In addition, a free hard copy is available by calling (855) 937-0772. Please read the prospectus carefully before investing.
Investing involves risk. Principal loss is possible.
Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.
Investments in lower-rated and non-rated securities present a greater risk of loss to principal and interest than higher-rated securities.
Investments in ABS and MBS include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments.
Investments in floating rate securities include additional risks that investors should be aware of such as credit risk, interest rate risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments.
The fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets.
The fund may use leverage which may cause the effect of an increase or decrease in the value of the portfolio securities to be magnified and the Fund to be more volatile than if leverage was not used.
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.
Investing in ETFs involves additional risks such as the market price of the shares may trade at a discount to its net asset value ("NAV"), 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.
Yield to maturity (YTM) does not represent return. YTM provides a summary measurement of an investment's cash flows, including principal received at maturity based on a given price. Actual yields may fluctuate due to a number of factors such as the holding period, changes in reinvestment rates as cash flows are received and redeployed, receipt of timely income and principal payments. DoubleLine views YTM as a characteristic of a portfolio of holdings often used, along with other risk measures such as duration and spread, to determine the relative attractiveness of an investment.
DoubleLine ETFs are distributed by Foreside Fund Services, LLC.
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SOURCE DoubleLine
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