In plain terms — DoubleLine Opportunistic Credit Fund
Shares currently cost about 5.4% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 1.4% discount, so today's level is unusually wide for this fund (Z-score -2.2). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 9.8% a year of the share price (9.2% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.06 of assets — a ReinvestCapture™ rate of 10.3%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 1.0% over the past year including distributions (NAV total return).
Annual costs are 1.73% of assets.
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -3.73% | 1.29% | -1.61 | 55 |
| 6 months | -3.11% | 1.16% | -2.33 | 107 |
| 1 year | -1.41% | 2.04% | -2.16 | 231 |
| 3 years | +0.14% | — | — | — |
| 5 years | -0.19% | — | — | — |
Current contemporaneous premium/discount -5.81% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -7.64% to +1.78%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -4.72% | -6.60% | -12.72% | -15.28% | -2.59% | -7.76% |
| Market price total return | -3.17% | -3.59% | -5.78% | -6.56% | +6.31% | +0.62% |
| NAV return | -1.18% | -2.66% | -5.24% | -7.57% | +0.33% | -5.84% |
| NAV total return | -0.42% | -0.42% | +1.34% | +1.01% | +9.22% | +2.54% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
Managed by DoubleLine Capital LP, the DoubleLine Opportunistic Credit Fund functions as a closed-end mutual fund primarily focused on fixed income investments. Its strategy involves allocating capital across a diverse spectrum of debt instruments, including both residential and commercial mortgage-backed securities, asset-backed securities, U.S. government obligations, corporate bonds, international sovereign debt, and various short-term holdings. The fund measures its portfolio performance against the Barclays Capital U.S. Aggregate Bond Index. This U.S.-domiciled fund was established on July 22, 2011.
CEF Explorer research page for DoubleLine Opportunistic Credit Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.