CAPE ETF — Holdings & Analysis

CAPE, or the DoubleLine Shiller CAPE U.S. Equities ETF, seeks to replicate the Shiller Barclays CAPETM US Core Sector Index. This index employs the Cyclically Adjusted Price Earnings (CAPE) ratio to identify relatively undervalued sectors within the S&P 500. The ETF invests in the top four undervalued U.S. equity sectors that also exhibit relatively strong price momentum. The fund rebalances monthly based on the CAPE ratio, aiming to capitalize on sectors that are both undervalued and showing positive momentum signals.

The expense ratio for CAPE is 0.65%. This means that for every $10,000 invested, $65 is deducted annually to cover the fund's operating expenses. While this provides access to a unique sector rotation strategy based on the Shiller CAPE methodology, the expense ratio is higher than some broad market equity ETFs. the may be worth researching expense ratio in relation to the potential benefits of the fund's investment strategy.

As of 2026-03-15, the top holdings in CAPE include Meta Platforms Inc Class A, with a weighting of 5.25%. Other significant holdings are Eli Lilly and Co at 3.54%, and Linde PLC at 3.52%. Alphabet Inc Class A and Class C shares also feature prominently, with weightings of 2.83% and 2.27% respectively. These top holdings reflect the fund's current sector allocations and the specific companies within those sectors that meet the index's criteria.

Whether CAPE is a suitable long-term investment depends on an investor's individual risk tolerance and investment objectives. The fund's strategy of rotating into undervalued sectors based on the CAPE ratio may offer the potential for long-term capital appreciation. However, the fund's concentrated sector allocations and active management also introduce risks. Investors should carefully consider the fund's historical performance, expense ratio, and investment strategy in relation to their own financial goals. Past performance does not guarantee future results.

CAPE differentiates itself through its unique sector rotation strategy based on the Shiller Barclays CAPETM US Core Sector Index. Unlike broad market ETFs, CAPE actively selects sectors based on valuation and momentum factors. With an AUM of $0.32 billion, it is smaller than some established broad market ETFs. Its expense ratio of 0.65% may be higher than passively managed ETFs but could be justified if the active strategy delivers superior risk-adjusted returns. Investors should compare CAPE's sector allocations, performance, and risk metrics to those of other sector rotation or value-focused ETFs to determine its suitability for their portfolios.

As of 2026-03-15, the DoubleLine Shiller CAPE U.S. Equities ETF has a dividend yield of 0.00%. This indicates that the fund is not currently distributing income to shareholders in the form of dividends. Investors seeking current income may need to consider other dividend-focused ETFs or investment strategies. The fund's focus is primarily on capital appreciation through sector rotation rather than income generation.