DoubleLine Shiller Enhanced CAPE
DSENX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 2002 N. Tampa St., Tampa FL United States of America 33602
- IPO Date
- Nov 1, 2013
- CIK
- 0001480207
- Website
- doubleline.com
- Similar Companies
- Business
- DoubleLine Shiller Enhanced CAPE Fund (DSENX) is a mutual fund managed by DoubleLine Capital LP that seeks total return exceeding the Shiller Barclays CAPE U.S. Sector Total Return USD Index over a full market cycle by combining 100% notional exposure to the index via excess return swaps with an actively managed fixed income portfolio. The equity exposure targets undervalued U.S. large-cap sectors identified through a modified Cyclically Adjusted Price-to-Earnings (CAPE®) ratio adjusted for each sector's 20-year historical average (Relative CAPE®), selecting the five cheapest sectors and eliminating the one with the worst 12-month momentum to avoid value traps, with equal weighting among the remaining four across 11 GICS sectors including communication services, real estate, materials, and consumer staples. The fixed income collateral, which backs the swaps and aims to outperform cash, features a short duration of approximately 1.64 years, weighted average life of 2.80 years, and allocations to U.S. government securities, investment grade corporates, non-agency RMBS, commercial MBS, collateralized loan obligations, asset-backed securities, agency RMBS, bank loans, and emerging markets debt; credit quality emphasizes government (33%), agency (4%), and investment grade (54%) holdings with limited below investment grade (5%) exposure. The fund offers Class N shares (DSENX, ticker symbol, $2,000 minimum initial investment, $500 for IRAs, 0.81% gross expense ratio) and Class I shares (DSEEX, $100,000 minimum, $5,000 for IRAs, 0.56% gross expense ratio), both launched on October 31, 2013, with portfolio managers Jeffrey Gundlach (CEO and CIO) and Jeffrey Sherman (Deputy CIO); as of September 2025, assets under management approximate $3.48 billion. DoubleLine Capital LP, founded in 2009 and headquartered at 333 South Grand Avenue, 18th Floor, Los Angeles, California, with additional offices in Tampa, Dubai, Tokyo, and London, created the strategy through a partnership with Nobel laureate Professor Robert J. Shiller to apply his CAPE® methodology to sector rotation while leveraging the firm's fixed income expertise. Recent developments include sustained strong performance with YTD returns of 9.64% for DSENX through September 2025, ongoing monthly sector reallocations reflecting current undervaluation in communication services (26%), real estate (25%), materials (25%), and consumer staples (24%), and DoubleLine's broader 2025 strategic emphasis on commodities, international equities, and active fixed income amid U.S. economic shifts as articulated by Gundlach in January 2025 outlooks, with no reported acquisitions, funding rounds, or structural changes specific to the fund in the last 1-2 years.