U.S. Markets open in 7 hrs 43 mins
  • Gold

    -9.80 (-0.55%)
  • Silver

    +0.46 (+2.05%)

    -0.0034 (-0.2924%)
  • 10-Yr Bond

    +0.0120 (+0.91%)
  • Vix

    -3.49 (-14.33%)

    -0.0045 (-0.3282%)

    +0.5600 (+0.5127%)

    +1,921.04 (+4.56%)
  • CMC Crypto 200

    +49.07 (+4.72%)
  • FTSE 100

    +102.39 (+1.47%)
  • Nikkei 225

    -200.31 (-0.67%)

SPDR DoubleLine Total Return beats actively managed bond ETF group

By Jennifer Ablan

NEW YORK, June 12 (Reuters) - DoubleLine Capital's first actively managed exchange-traded fund, the SPDR DoubleLine Total Return Tactical ETF, drew $182 million of inflows in May, boosting its assets above $600 million in less than four months, its administrator said on Friday.

The fund, co-managed by widely followed investor Jeffrey Gundlach, had $605.70 million in total assets, according to State Street Global Advisors, which partnered with DoubleLine to bring the product to market.

"The ETF is benefiting from the strong brand name of DoubleLine and Gundlach," said Todd Rosenbluth, director of ETF and mutual fund research at S&P Capital IQ.

Unlike many investors, Gundlach does not foresee any interest-rate increases this year.

"For investors who want to maintain exposure to bonds in a diversified manner, that view is particularly appealing," Rosenbluth said.

Gundlach, Philip Barach and Jeffrey Sherman lead the day-to-day management of the fund, which became available Feb. 24.

In the three months ended on May 31, TOTL has outperformed the Pimco Total Return Active ETF, which Bill Gross managed before he left Pimco on Sept. 26, Rosenbluth said.

The DoubleLine fund posted returns of 0.62 percent in the three months, while Pimco's were a negative 0.75 percent, according to Lipper data.

The Pimco fund, an actively managed ETF intended to mimic the strategy of the company's flagship mutual fund, posted net outflows of $53.9 million in May.

It ended the month with $2.6 billion in assets under management, down from a peak of $5.2 billion in April 2013, Morningstar said.

Pimco declined to comment.

Another intermediate-term active bond ETF, Fidelity Total Bond ETF, posted returns of 0.39 percent in the three-month period, Lipper said.

The Fidelity ETF, which launched in early October, started with assets of $50.3 million and has grown to $107.27 million. "For Fidelity, it's not about being the biggest, it's about offering our customers the value, choice and innovation they need to meet their distinct goals," a spokeswoman said.

In a different fund category, WisdomTree Investments, a major ETF sponsor and index developer, on Thursday introduced a new actively managed bond ETF, the WisdomTree Western Asset Unconstrained Bond Fund, designed to seek out broad exposure to the global fixed-income marketplace.

BlackRock's iShares U.S. Fixed Income Balanced Risk , which falls in the same non-traditional bond category as UBND, posted returns of 0.71 percent in the three-month period, beating 58 percent of its peers, according to Morningstar data.

BlackRock declined to comment.

(Reporting by Jennifer Ablan; Editing by Lisa Von Ahn)