DSCO ETF — Holdings & Analysis

For informational purposes only. Not financial advice.

Quick Answer

With an expense ratio of 0.50%, DSCO differentiates itself by allocating across various securitized credit types of any credit quality, including up to 50% in high-yield bonds. The fund leverages a controlled risk approach, actively adjusting strategies in response to market and economic shifts, offering a dynamic approach to securitized credit investing.

DoubleLine Securitized Credit ETF (DSCO) ETF — Price, Holdings & Analysis

The DoubleLine Securitized Credit ETF (DSCO) is an actively managed fund with $0.17 billion in assets under management, seeking high current income through investments in USD-denominated securitized credit instruments. With an expense ratio of 0.50%, DSCO differentiates itself by allocating across various securitized credit types of any credit quality, including up to 50% in high-yield bonds. The fund leverages a controlled risk approach, actively adjusting strategies in response to market and economic shifts, offering a dynamic approach to securitized credit investing.

ETF Overview

DSCO seeks high current income by investing in USD-denominated securitized credit instruments, such as assets backed by mortgages, loans, receivables, or similar debt. The fund invests directly or through derivatives or synthetic instruments, with allocations across various securitized credit types of any credit quality or duration. It may invest up to 50% in high-yield bonds. Mortgage-backed securities are selected based on yield, duration, collateral, sponsor quality, supply/demand, and risk correlation. Asset-backed securities are considered for diverse risk/return profiles, while CLOs for yield, diversification, and quality. DSCO uses a controlled risk approach, actively adjusting strategies and duration in response to market and economic shifts. The fund may invest in cash, hedging instruments, or short sales. Before Feb. 2, 2026, DSCO operated as a mutual fund called DoubleLine Securitized Credit Fund, starting with $154 million in assets.

DSCO aims to generate high current income by investing in securitized credit instruments denominated in U.S. dollars. These instruments include assets backed by mortgages, loans, receivables, or similar debt. The fund employs a flexible strategy, investing directly or through derivatives and synthetic instruments, and allocates across various securitized credit types regardless of credit quality or duration. A significant portion, up to 50%, may be invested in high-yield bonds. Mortgage-backed securities are selected based on factors like yield, duration, collateral quality, and risk correlation. Asset-backed securities are chosen for their diverse risk/return profiles, while CLOs are considered for their yield, diversification benefits, and quality. As of the latest holdings, the top allocations include First American Government Obligs U (FGUXX), JPMorgan US Government MMkt IM (MGMXX), and Morgan Stanley Instl Lqudty Govt Instl (MVRXX), each at 2.19%. This active management approach allows DSCO to adapt to changing market conditions and economic shifts.

Risk Metrics

DSCO's risk profile is influenced by its active management and allocation to securitized credit instruments, including high-yield bonds. The fund's beta of 0.35 (3-year) suggests lower volatility compared to the broader market. However, the allocation to high-yield bonds introduces credit risk, as these bonds are more susceptible to default. The expense ratio of 0.50% can create a drag on performance, particularly in lower-return environments. While the fund diversifies across various securitized credit types, concentration risk exists within its top holdings, with the top three holdings each representing 2.19% of the portfolio. Investors should also consider the risks associated with derivatives and synthetic instruments, which can amplify both gains and losses. Past performance does not guarantee future results.

Expense Ratio

0.50%

What does DSCO hold?

Holding	Weight
First American Government Obligs U (FGUXX)	2.19%
JPMorgan US Government MMkt IM (MGMXX)	2.19%
Morgan Stanley Instl Lqudty Govt Instl (MVRXX)	2.19%

Dividend Yield

0.00%

iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
ARK Innovation ETF (ARKK) — 0.75% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
iShares MSCI EAFE ETF (EFA) — 0.32% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
State Street SPDR S&P 500 ETF (SPY) — 0.09% expense ratio

DoubleLine Shiller CAPE U.S. Equities ETF (CAPE) (Equity) — 0.65% expense ratio

Risk Metrics

Beta: 0.35

Questions & Answers

What is DSCO and what does it track?

The DoubleLine Securitized Credit ETF (DSCO) is an actively managed fund that seeks to generate high current income. It invests primarily in U.S. dollar-denominated securitized credit instruments, including mortgage-backed securities, asset-backed securities, and collateralized loan obligations (CLOs).

The fund can invest up to 50% of its assets in high-yield bonds.

What is the expense ratio for DSCO?

The expense ratio for the DoubleLine Securitized Credit ETF (DSCO) is 0.50%. This means that for every $10,000 invested in the fund, $50 is used to cover the fund's operating expenses annually.

What are the top holdings in DSCO?

As of March 15, 2026, the top three holdings in the DoubleLine Securitized Credit ETF (DSCO) are First American Government Obligs U (FGUXX), JPMorgan US Government MMkt IM (MGMXX), and Morgan Stanley Instl Lqudty Govt Instl (MVRXX).

Each of these holdings represents approximately 2.19% of the fund's total assets.

Is DSCO a good long-term investment?

Whether DSCO is a suitable long-term investment depends on an investor's individual circumstances, risk tolerance, and investment objectives. DSCO's strategy of investing in securitized credit instruments, including high-yield bonds, offers the potential for high current income.

However, it also exposes investors to credit risk and interest rate risk.

How does DSCO compare to similar ETFs?

DSCO differentiates itself through its active management and focus on securitized credit. Many similar ETFs in the fixed-income space are passively managed and track broad market indexes.

DSCO's expense ratio of 0.50% may be higher than some passive ETFs, but is typical for actively managed funds.

Does DSCO pay dividends?

As of March 15, 2026, the DoubleLine Securitized Credit ETF (DSCO) has a dividend yield of 0.00%. This indicates that the fund is not currently distributing income to shareholders in the form of dividends.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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