TAMPA,
Fla., Dec. 3, 2024 /PRNewswire/ -- The
DoubleLine Multi-Sector Income ETF (Ticker Symbol: DMX), an
actively managed exchange-traded fund (ETF) invested primarily in
corporate and securitized credit, began trading today on the NYSE
Arca exchange.
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® U.S. Equities ETF
(CAPE) and DoubleLine Fortune 500 Equal Weight ETF (DFVE); and
DoubleLine Commodity Strategy ETF (DCMT).
"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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/doubleline-multi-sector-income-etf-launches-on-nyse-arca-exchange-302321113.html
SOURCE DoubleLine