Most of the MFOers who held the DoubleLine CAPE funds were displeased (shocked?) at their performance during market downturns, first in 2018, then this year. Almost since the inceptions of DSENX and MOAT (Morningstar Wide-Moat ETF),
I have held both funds and I periodically owned CAPE, the ETN. Up until the past few months, performance was quite similar, with both methodologies regularly besting SPY. This is no longer the case as MOAT has shown itself to be the superior fund. As I may have previously mentioned, I have exited all CAPE strategies while maintaining my MOAT positions. I won't quibble here about whether the CAPE approach is value or blend. MOAT is LCB without argument. My finding is that wide-moat investing works and that the CAPE strategy, dependent as it is on the bond "sauce," does not work as well. FWIIW, I have not found a member of this board who owns MOAT, although I have mentioned it before. Please come out of the woodwork because it's lonely at the head of the train (LOL).