DoubleLine Shiller CAPE US Equities ETF

CAPE

時価総額 $2.11億

The Trump administration's fiscal policy is at odds with its goals for interest rates and the bond market. Trump's latest trade threats raise the stakes for the economy.

Navigating the macroeconomic landscape in the first half of 2026 has been a study in contrasts. Markets have marched toward all-time highs even as historic valuation metrics flash warning signs behind the scenes.

While the market's momentum has been undeniable, valuation metrics are flashing caution signs that investors shouldn't ignore following one of the strongest periods for U.S. equities in recent memory.

The fixed income asset class has been anything but sleepy thus far this year. In fact, fixed income investors may be experiencing bouts of insomnia as higher-for-longer interest rates and a new Fed chair continue to add uncertainties.

Despite numerous reasons why investors might expect otherwise, 2026 appears to be off to an excellent start across many parts of the market. As evidenced by strong earnings growth often topping analyst expectations, hearty revenue growth, and continued elevation in profit margins, a market buoyed by AI investment has thrived.

DoubleLine CEO/CIO Jeffrey Gundlach waxed market poetic in a recent Just Markets webcast. He looked back at 2025 and ahead in 2026 for opportunities with a barrage of charts to support his assertions.

CAPE: An Alternative Take On The Value Investment Theme With Mixed Results

While many in the financial industry have lauded the expansion of the ETF vehicle as a significant step toward democratization, particularly for making previously inaccessible assets like cryptocurrency and private credit available to a broader range of individual investors, renowned investor Jeffrey Gundlach holds a contrarian view.

CAPE is based on the work of Professor Robert Shiller of Yale, adapted by DoubleLine, the ETF's parent company. The fund has a good idea and design, but the execution has not been there. The process has not produced notable results in up or down markets. I rate CAPE a sell.