SPDR® DoubleLine Total Return Tactical ETF (TOTL)

Overview

The SPDRu00ae DoubleLine Total Return Tactical ETF (TOTL) is an actively managed fixed-income ETF that seeks to maximize total return by dynamically allocating assets across various fixed-income sectors. It employs a tactical approach, adjusting its portfolio based on DoubleLine's macroeconomic outlook and market analysis.

Reputation and Reliability

State Street Global Advisors (SSGA) is a reputable and established asset manager with a long track record of providing ETF solutions.

Management Expertise

DoubleLine Capital, led by Jeffrey Gundlach, is the sub-advisor known for its expertise in fixed income and macroeconomic analysis.

Goal

To maximize total return from income and capital appreciation.

Investment Approach and Strategy

Strategy: Actively managed fixed-income strategy.

Composition Primarily invests in a diversified portfolio of fixed-income securities, including U.S. government securities, mortgage-backed securities, corporate bonds, and asset-backed securities.

Market Share: TOTL's market share varies depending on the specific fixed-income category comparison but is a moderate player compared to broader bond ETFs.

Total Net Assets (AUM): 2860000000

Key Competitors

• AGG
• BND
• MUB
• LQD

Competitive Landscape

The fixed-income ETF market is highly competitive, with many passively managed, low-cost options. TOTL's active management aims to provide superior risk-adjusted returns compared to passive benchmarks. However, its higher expense ratio can be a disadvantage if it underperforms the benchmark.

Historical Performance: Historical performance varies depending on the time period. Reviewing TOTL's performance over different periods (1-year, 3-year, 5-year, 10-year) is crucial.

Benchmark Comparison: The ETF's performance should be compared to relevant fixed-income benchmarks like the Bloomberg Barclays U.S. Aggregate Bond Index.

Expense Ratio: 0.5

Average Trading Volume

The average daily trading volume is moderate, generally adequate for typical investor needs.

Bid-Ask Spread

The bid-ask spread is typically tight, but it can widen during periods of market volatility.

Market Environment Factors

Economic indicators, interest rate movements, inflation expectations, and credit spreads significantly impact TOTL's performance.

Growth Trajectory

Growth depends on DoubleLine's tactical allocation decisions and overall fixed-income market conditions; strategy changes may include adjustments to duration, sector allocation, and credit quality.

Competitive Edge

TOTL's competitive advantage lies in its active management by DoubleLine Capital, known for its expertise in fixed-income investing and macroeconomic forecasting. The ETF's tactical approach aims to capitalize on market inefficiencies and generate higher risk-adjusted returns compared to passive fixed-income ETFs. DoubleLine's investment process is highly regarded, and the ETF provides exposure to their actively managed fixed income approach. This active approach differentiates TOTL from many passive options in the bond ETF space.

Volatility

TOTL's volatility is typically lower than equity ETFs but can vary based on market conditions and the fund's specific holdings.

Market Risk

Market risk is inherent in fixed-income investments, with risks related to interest rate changes, credit spreads, and inflation affecting performance.

Ideal Investor Profile

Investors seeking actively managed fixed-income exposure with the potential for higher returns than passive bond ETFs.

Market Risk

Suitable for investors with a moderate risk tolerance seeking income and capital appreciation, particularly those who believe in active management's potential to outperform benchmarks.

SPDRu00ae DoubleLine Total Return Tactical ETF (TOTL) is an actively managed fixed-income ETF employing a tactical strategy by DoubleLine Capital, seeking to maximize total return. It holds a diversified portfolio and adjusts based on DoubleLine's macroeconomic outlook. Its active management distinguishes it from passive bond ETFs but comes with a higher expense ratio. TOTL is suitable for investors seeking active fixed income exposure, who believe in active bond management, and have moderate risk tolerance.

• BOND
• MINT
• BSCI
• FLOT

Data Sources:

• State Street Global Advisors (SSGA)
• DoubleLine Capital
• ETF.com
• Morningstar

Disclaimers:

The data provided is for informational purposes only and should not be considered investment advice. Market conditions can change rapidly, and past performance is not indicative of future results.