DBND to Change Name to DoubleLine Opportunistic Core Bond ETF and Cut Management Fee

TAMPA, Fla., Jan. 23, 2025 /PRNewswire/ -- The name of the DoubleLine Opportunistic Bond ETF (Ticker Symbol: DBND), an actively managed exchange-traded fund, will change to DoubleLine Opportunistic Core Bond ETF, effective Feb. 3, DoubleLine announced.

DoubleLine ETF Adviser LP, adviser to DBND, also will reduce the fund's management fee, effective Feb. 3, to 45 basis points (bps) of the fund's average daily net asset value from 50 bps. (A basis point equals one-hundredth of 1 percent or 0.01%.)

DoubleLine Deputy Chief Investment Officer Jeffrey Sherman, portfolio manager of DBND with DoubleLine CEO and Chief Investment Officer Jeffrey Gundlach, said the name change better reflects the exchange-traded fund's place within the ensemble of multi-sector strategies managed through DoubleLine's Fixed Income Asset Allocation (FIAA) process.

"As part of our FIAA strategy suite, adding 'Core' to DBND's name is consistent with how we have always managed this fund," Mr. Sherman said. "In addition, we believe the name change helps investors and clients distinguish the role or solution that DBND seeks to provide."

The objective of DBND is to maximize current income and total return by, under normal circumstances, investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in fixed income instruments or other investments with economic characteristics similar to fixed income instruments. DBND can invest across the credit spectrum, including up to 50% in below-investment-grade bonds, and across the capital structure throughout the sectors of the global fixed-income universe. Under normal market conditions, the portfolio managers intend to construct an investment portfolio with an average effective duration of no less than two years and no more than eight years.

Top-down and bottom-up investment approaches are integrated into portfolio construction and ongoing portfolio management.

At the top-down level, the FIAA Committee meets monthly to form a macroeconomic outlook while assessing potential opportunities and risks across the fixed income landscape. This informs committee decisions on portfolio characteristics, including weightings in the different sectors of the fixed income universe, credit exposure and duration. The permanent FIAA Committee members are Mr. Gundlach; Mr. Sherman, who heads the Macro Asset Allocation team; and the heads of the investment teams focused on the different sectors of the fixed income universe.

At the bottom-up level, investment teams dedicated to their respective markets conduct fundamental analysis and research, determine relative values and decide security selection. Each step in the process is aimed at finding the most-attractive reward-to-risk and relative-value opportunities.

Performance reported for time periods greater than one year is annualized.
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance current to the most recent month-end may be obtained by calling (855) 937-0772 or by visiting www.doubleline.com.

The heads of the sector-focused investment teams serving as permanent members of the FIAA Committee are: Vitaliy Liberman, Agency Mortgage-Backed Securities (MBS); Ken Shinoda, Non-Agency MBS; Morris Chen, Commercial MBS/Commercial Real Estate; Robert Cohen, Global Developed Credit, including teams dedicated to investment grade and high yield bonds and bank loans; Andrew Hsu, Asset-Backed Securities and Infrastructure Debt; Sam Garza, Collateralized Loan Obligations; Bill Campbell, Global Sovereign Debt, including U.S. Treasuries and Luz Padilla, Emerging Markets Fixed Income. Jeff Mayberry and Ryan Kimmel serve as allocation strategists to the committee.

Including DBND, DoubleLine ETF Adviser LP is adviser to seven ETFs. The other six are fixed income funds DoubleLine Commercial Real Estate ETF (DCRE), DoubleLine Mortgage ETF (DMBS) and DoubleLine Multi-Sector Income ETF (DMX); equity funds DoubleLine Fortune 500 Equal Weight ETF (DFVE) and DoubleLine Shiller CAPE® U.S. Equities ETF (CAPE); and DoubleLine Commodity Strategy ETF (DCMT).

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 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 [email protected]. Media can reach DoubleLine by email at [email protected]. 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.

Definitions

Bloomberg US Aggregate Bond Index - This index (the "Agg") represents securities that are SEC registered, taxable and U.S. dollar denominated. It covers the U.S. investment grade, fixed-rate bond market, with components for government and corporate securities, mortgage pass-through securities and asset-backed securities. These major sectors are subdivided into more specific indices that are calculated and reported on a regular basis.

Risk Disclosure

Investing involves risk and 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. 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.

DoubleLine ETFs are distributed by Foreside Fund Distributors, LLC.

DoubleLine® is a registered trademark of DoubleLine Capital LP.

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SOURCE DoubleLine