Shiller Enhanced CAPE®

Performance & CharacteristicsPortfolio Managers

Objective

The Sub-Fund seeks total return that exceeds the total return of its benchmark index, as described and defined below, by combining an exposure to the index and to debt securities, as described below.

Principal Investment Strategy

The Sub-Fund seeks total return that exceeds the total return of the S&P 500® Index by combining an exposure to the Shiller Barclays CAPE® US Sector II ER USD Index (the “Index”) and to debt securities. Further information on the Index is contained under General Description of the Index.

The Sub-Fund seeks to use financial derivative instruments (“FDIs”) or a combination of FDIs and direct investments in the constituents of the Index to provide a return that closely reflects the performance of the Index. The Sub-Fund also invests in a portfolio of debt securities to seek additional long-term total return. The Sub-Fund uses investment leverage in seeking the Index return and the return on the portfolio of debt securities. It is likely that the Sub-Fund will have simultaneous exposures to both the Index and debt securities.

The Sub-Fund will normally use FDIs in an attempt to create an investment return approximating the Index return. The Sub-Fund is expected to enter mainly into unfunded swap transactions for that purpose but may also use futures transactions designed to provide the Sub-Fund a return approximating the Index’s return. The Sub-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 FDIs the Sub-Fund expects to use. As a result, use of those FDIs along with other investments will create investment leverage in the Sub-Fund’s portfolio.

If the Sub-Fund is not in a position to use the Index for any reason whatsoever, it may seek to gain exposure directly to the Sub-Indices (as defined below) or to another index that generally approximates the exposure of the Index (such as the S&P 500®) in order to implement its principal investment strategy.

In certain cases, FDIs might be unavailable or the pricing of those FDIs might be unfavorable. In those cases, the Sub-Fund might attempt to replicate the Index return by investing in a portfolio of Transferable Securities or other eligible assets that may comprise some or all of the constituents of the Index, the underlying of such constituents of the Index at the time or another index that generally approximates the exposure of the Index (such as the S&P 500®). If the Sub-Fund at any time invests directly in the constituents of the Index, those invested assets will be unavailable for investment in debt securities, and the Sub-Fund’s ability to pursue its investment strategy and achieve its investment objective may be limited.

Fact Sheet
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Fund Facts

  • Fund Inception: Sep 30, 2016 Accumulation
    Management Fee1.25%
    Expense Cap0.35%
    Total Expense Ratio1.60%
    Share Class Inception9/30/2019
    Initial Minimum Investment$2,000.00
    DistributionDistribution
    ISINLU1480531620
    BloombergDSHCAAU LX
    CUSIPL2R4AT119
    Fund TypeSICAV UCITS V
    Sub-Fund Inception Date09/30/2016
    Close Fiscal Year31-Jan
    Fund Base CurrencyUSD
    NAV ValuationDaily
    Countries of RegistrationCH, CL, DE, DK, FR, LU, IT, ES, NL, UK, KR

Daily Nav

  • As of Aug 19, 2026
    NAV $25.58
    NAV $ Daily Change0.36
    NAV % Daily Change1.42

Barclays CAPE Index

Shiller CAPE US Sector II Lookthrough - 20260806.xls

 

For further information on the Index, including methodology, download the PDF.

 

Index overview, performance & sector constituent information can be accessed on the Barclay’s indices site.

 

Performance & Characteristics

Portfolio Characteristics

Credit Quality Breakdown (%)

Weighted Average Life Breakdown (%)

Duration Breakdown (%)

Fixed Income Sector Breakdown (%)

Sector Breakdown (%)

PORTFOLIO MANAGERS

Portfolio Managers

  • Jeffrey Gundlach

    Chief Executive Officer & Chief Investment Officer
    READ BIO

    Jeffrey Gundlach

    Chief Executive Officer & Chief Investment Officer

    Mr. Gundlach is CEO of DoubleLine.  In 2011, he appeared on the cover of Barron's as "The New Bond King."  In 2013, Institutional Investor named him "Money Manager of the Year."  In 2012, 2015 and 2016, he was named one of "The Fifty Most Influential" in Bloomberg Markets.  In 2017, he was inducted into the FIASI Fixed Income Hall of Fame.  Mr. Gundlach is a summa cum laude graduate of Dartmouth College, with degrees in Mathematics and Philosophy.

  • Jeffrey Sherman, CFA

    Deputy Chief Investment Officer
    READ BIO

    Jeffrey Sherman, CFA

    Deputy Chief Investment Officer

    Jeffrey Sherman, DoubleLine’s Deputy Chief Investment Officer, is a thought leader, portfolio manager and public speaker in the industry. Mr. Sherman is a member of DoubleLine’s Fixed Income and Global Asset Allocation committees, and he serves as lead portfolio manager for the firm’s multi-sector and derivative-based strategies. In his role, Mr. Sherman guides the investment teams in developing top-down macro views and collaborative asset allocation processes throughout a market cycle. Additionally, he is a member of DoubleLine’s Executive Management Committee. In 2018, Money Management Executive named Mr. Sherman as one of “10 Fund Managers to Watch” in its yearly special report. Prior to joining DoubleLine in 2009, Mr. Sherman was a Senior Vice President at TCW, where he worked as a portfolio manager and quantitative analyst focused on fixed income and real-asset portfolios. Prior to that, he was a statistics and mathematics instructor at the University of the Pacific and Florida State University. Mr. Sherman taught Quantitative Methods for Level I candidates in the USC/CFALA CFA® Review Program for many years. He holds a B.S. in Applied Mathematics from the University of the Pacific and an M.S. in Financial Engineering from Claremont Graduate University. Mr. Sherman is a CFA® charterholder.

    2020

    "The Sherman Show" Named One of the "10 Must-Listen Podcasts" by Business Insider

The Company has adopted a policy permitting, upon request, the disclosure of portfolio holdings information to Shareholders with 1 Business Day delay. The information will be provided on a confidential basis to those having a legitimate business interest in receiving the information by contacting: [email protected]

Important Information: We recommend you discuss any investment decisions with a financial advisor, particularly if you are unsure whether an investment is suitable. DoubleLine is unable to provide investment advice. Initial charges are likely to have a greater proportionate effect on returns if investment are liquidated in the shorter term. Every effort is made to ensure the accuracy of any information provided but no assurances or warranties are given.

Barclays Bank PLC and its affiliates (“Barclays”) is not the developer or implementer of the DoubleLine Shiller Enhanced CAPE® strategy (the “Strategy”) and Barclays has no responsibilities, obligations or duties to investors in the Strategy. The Shiller Barclays CAPE® US Core Sector Net ER USD Index NoC (the “Index”) is a trademark owned by Barclays Bank PLC and licensed for use by DoubleLine. While DoubleLine may execute transaction(s) with Barclays in or relating to the Strategy or the Index, investors acquire interests solely in their account and investors neither acquire any interest in the Strategy or the Index nor enter into any relationship of any kind whatsoever with Barclays upon making an investment. The Strategy is not sponsored, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of investing in the Strategy or the use of the Index or any data included therein. Barclays shall not be liable in any way to investors or to other third parties in respect of the use or accuracy of the Strategy, the Index or any data included therein.

The Shiller Barclays CAPE® US Index Family (the “Index Family”) has been developed in part by RSBB-I, LLC, the research principal of which is Robert J. Shiller. RSBB-I, LLC is not an investment advisor and does not guarantee the accuracy and completeness of the Index Family or any data or methodology either included therein or upon which it is based. RSBB-I, LLC shall have no liability for any errors, omissions or interruptions therein and makes no warranties expressed or implied, as to the performance or results experienced by any party from the use of any information included therein or upon which it is based, and expressly disclaims all warranties of the merchantability or fitness for a particular purpose with respect thereto, and shall not be liable for any claims or losses of any nature in connection with the use of such information, including but not limited to, lost profits or punitive or consequential damages even, if RSBB-I, LLC is advised of the possibility of same. DoubleLine Funds (Luxembourg) and its management company, FundRock Management Company S.A., are authorized in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier.

Swiss Information The state of the origin of the Fund is Luxembourg. This document may only be distributed in or from Switzerland to qualified investors within the meaning of Art. 10 Para. 3, 3bis and 3ter CISA. The Representative in Switzerland is ACOLIN Fund Services AG, Leutschenbachstrasse 50, CH-8050 Zurich, whilst the Paying Agent is NPB Neue Privat Bank AG, Limmatquai 1 / am Bellevue, CH-8024 Zurich. In respect of the units distributed in or from Switzerland, the place of performance and jurisdiction is at the registered office of the representative. The basic documents of the fund as well as the annual and, if applicable, semi-annual report may be obtained free of charge at the registered office of the Swiss Representative.