The total return for DBLTX in 2011 was 9.51%, which ranked #2 in the Intermediate Term Bond Morningstar category. In 2012 total return was 9.16%, ranking #21. The one year trailing total return was 9.04% as of 1/23/13, ranking #20.
How many funds do you consider "so many?" One reason for the DBLTX's miserable performance is it's average duration, which was 1.5 years as of 12/31/12. Generally, the lower the duration the lower the performance. Why might Grundlach have done that? Perhaps because he thinks interest rates might rise? Yup, he's losing his touch.