MutualFundWire.com: Sherman and Gundlach Celebrate a $454MM-AUM Fund

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Thursday, May 15, 2025

Sherman and Gundlach Celebrate a $454MM-AUM Fund

The folks at a 16-year-old, 254-employee (as of March), Sunshine State fund firm are celebrating a key milestone for their longest standing proprietary ETF.

Jeffrey J. Sherman
DoubleLine Capital
Deputy Chief Investment Officer

Last month, Jeffrey Sherman, deputy chief investment officer of DoubleLine Capital LP [profile], highlighted that the third birthday of the DoubleLine Opportunistic Core Bond ETF (DBND on the NYSE Arca) reached its third birthday earlier this spring. Having at least three-year track record can be critical for gaining distribution opportunities, especially for active funds, as many platforms, consultants, advisors, and screening programs will default to ignoring funds that are younger than three years old.

DBND's inception was on March 31, 2022, when the ETF launched as the DoubleLine Opportunistic Bond ETF. (The Doubleline team rebranded the fund on February 3, 2025, but kept its ticker unchanged.) DBND comes with an expense ratio of 45 basis points (which was reduced by 5bps along with the name change in February), and as of yesterday (May 13, 2025), it was about $454 million in AUM.

Sherman highlights DBND's outperformance over its first three years (compared to both its competitors and to its benchmark index). The fund is designed to generate both returns and current income.

"Along with relative values among different debt sectors, the drivers of risk and return change over time in these markets," Sherman states. "So an active approach is important for success not only over the long term but also the medium term. That should be clear today in 2025 with the horizon obscured by market noise, policy uncertainty and by changes, possibly even reversals, in decades-long investment trends and economic regimes."

DoubleLine ETF Adviser serves as DBND's investment advisor. Sherman, who is also president of DBND, and Jeffrey Gundlach, founder and CEO/CIO of DoubleLine Capital, have PMed the ETF since inception.

DBND is an actively managed series of the DoubleLine ETF Trust. The fund's other service providers include:

Deloitte & Touche LLP as independent accounting firm;

ACA's Foreside Fund Services, LLC as distributor;

J.P. Morgan Chase Bank, N.A. as administrator, custodian, and transfer agent; and

Ropes & Gray LLP as counsel.