DoubleLine Shiller Enhanced International CAPE - Class N (DLEUX) is a mutual fund offered by DoubleLine Capital LP that seeks long-term total return by investing primarily in international equities selected using the Shiller CAPE ratio methodology. The fund employs a rules-based approach to identify undervalued international markets outside the U.S., overweighting those with low cyclically adjusted price-to-earnings (CAPE) ratios while underweighting or avoiding overvalued ones; it holds a diversified portfolio of depositary receipts, common stocks, and preferred stocks across developed and emerging markets, with sector allocations mirroring broad international benchmarks adjusted for valuation signals. DoubleLine Capital LP, founded in 2009 and headquartered in Los Angeles, California, manages the fund as part of its broader fixed-income and multi-asset strategies, serving institutional and retail investors globally with operations focused in the United States, Europe, Asia-Pacific, and emerging markets. Recent developments include the fund's continued enhancement of its quantitative CAPE model in 2024 to incorporate forward-looking economic indicators and currency hedging options amid volatile global valuations, alongside DoubleLine's strategic expansion through a 2025 partnership with Shiller CAPE ETFs to broaden access to CAPE-based products across retail platforms.