CAPE
(DoubleLine Shiller Enhanced CAPE ETF) is an exchange-traded fund
(ETF) that seeks to provide investors with exposure to U.S. equities
that are selected based on the Shiller CAPE ratio. The ETF is managed
by DoubleLine Capital, a California-based asset management firm that
specializes in fixed income investments.
As an equity ETF, CAPE
invests primarily in U.S. equities that are selected based on the
Shiller CAPE ratio, which is a valuation metric that measures the
price of a stock relative to its average earnings over the past 10
years, adjusted for inflation. The ETF seeks to track the performance
of the Shiller Barclays CAPE US Core Sector Index, which is a
benchmark that includes U.S. stocks that meet certain liquidity and
other criteria.
As of September 2021, the CAPE ETF had total
net assets of around $880 million and was invested in a diversified
portfolio of U.S. equities selected based on the Shiller CAPE ratio.
The fund's holdings are managed by the investment professionals at
DoubleLine Capital, who have extensive experience in managing fixed
income and equity investments.
In terms of performance, CAPE's
returns can be influenced by a range of factors that affect the
performance of the U.S. equity markets, including economic conditions,
interest rates, and political developments. As a result, the ETF can
be subject to significant price volatility, and its performance may
not always align with the performance of other asset classes.
Investing in an equity ETF like CAPE carries significant risks,
including the potential for loss of the initial investment.
Additionally, investors should be aware that equity ETFs are intended
to be long-term investments and may not be suitable for short-term
trading.
Investors should carefully consider their investment
objectives and risk tolerance before investing in CAPE or any other
equity ETF. It is also important to note that investing in individual
stocks carries significant risks, and investors should consider
diversifying their investments across different asset classes to
reduce their exposure to market
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