DoubleLine Mutual Funds Performance Summary

Core Fixed Income Fund

The Adviser has contractually agreed to waive fees incurred from investments made in other DoubleLine Funds through August 1, 2025. Net expense ratios are applicable to investors.

Emerging Markets Fixed Income Fund

Emerging Markets Local Currency Income Fund

The Adviser has contractually agreed to waive fees and reimburse expenses through August 1, 2025. Net expense ratios are applicable to investors.

Flexible Income Fund

Floating Rate Fund

Global Bond Fund

Income Fund

The Adviser has contractually agreed to waive fees and reimburse expenses through August 1, 2025. Net expense ratios are applicable to investors.

Infrastructure Income Fund

Long Duration Total Return Bond Fund

The Adviser has contractually agreed to waive fees and reimburse expenses through August 1, 2025. Net expense ratios are applicable to investors.

Low Duration Bond Fund

Low Duration Emerging Markets Fixed Income Bond Fund

The Adviser has contractually agreed to waive fees and reimburse expenses through August 1, 2025. Net expense ratios are applicable to investors.

Shiller Enhanced CAPE®

Shiller Enhanced International CAPE®

The Adviser has contractually agreed to waive fees and reimburse expenses through August 1, 2025. Net expense ratios are applicable to investors.

Strategic Commodity Fund

Total Return Bond Fund

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Past performance does not guarantee future results. Mutual fund investing involves risk. Principal loss is possible.

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance current to the most recent month-end may be obtained by calling (877) 354-6311 or by visiting www.doubleline.com.

The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. You can obtain the fund’s most recent periodic reports and certain other regulatory filings by calling 877-DLINE11 (877-354-6311), or by downloading from the fund document library on this website. You should read these reports and other filings carefully before investing.

Investments involve risk. Principal loss is possible. Shares of closed-end investment companies frequently trade at a discount to their net asset value, which may increase investors’ risk of loss. This risk may be greater for investors expecting to sell their shares in a relatively short period after the completion of the public offering. There are risks associated with an investment in the fund.

DoubleLine Funds are distributed by Quasar Distributors, LLC.