- What does DCRE invest in?
- The DoubleLine Commercial Real Estate ETF (DCRE) is designed to provide concentrated investment exposure to the commercial property sector. Its primary holdings are high-quality commercial mortgage-backed securities (CMBS), irrespective of their maturity or duration. This includes both government-backed and privately issued CMBS, as well as commercial real estate collateralized loan obligations (CLOs) and associated derivative instruments like credit default swaps. Beyond these core assets, the fund's permissible investments also encompass U.S. government-issued securities, a broader range of fixed income instruments, liquid assets, and various pooled investment vehicles, such as mutual funds and exchange-traded funds. The portfolio is actively managed utilizing a disciplined risk framework. This approach considers factors such as the potential relative returns and market liquidity of diverse sectors, meticulous security selection, the prevailing risk-return profile, the yield curve's structure, interest rate volatility, and current government fiscal policies. The fund's adviser aims to maintain a dollar-weighted average portfolio duration of three years or less. Additionally, derivatives may be strategically employed for risk mitigation. Prior to February 1, 2024, this fund traded under the ticker symbol DCMB.
- What is the expense ratio of DCRE?
- DoubleLine Commercial Real Estate ETF (DCRE) charges an expense ratio of 0.39%. This is the annual fee deducted from fund assets to cover management and operations.
- What is DCRE's dividend yield?
- DCRE's trailing-twelve-month yield is 5.18%, calculated from the sum of dividends over the past year divided by the current price.
- What is the duration of DCRE?
- Effective duration measures DCRE's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. DCRE's current duration is published on the fund's factsheet on the issuer's website.
- What is the credit quality of DCRE?
- DCRE's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.
- What is the yield to maturity of DCRE?
- Yield to maturity (YTM) is the total return you'd earn from DCRE if every bond in the portfolio is held to maturity at the current price. DCRE's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.
