DMX

The Fund is an actively managed exchange-traded fund ("ETF"). The Fund seeks to achieve its investment objectives by active asset allocation among various sectors within the fixed income markets and security selection within the selected sectors. These sectors may include, for example, investment grade corporate debt securities, high yield corporate debt securities, bank loans, residential mortgage-backed securities (including agency and privately issued residential mortgage-related securities), commercial mortgage-backed securities (including agency and privately issued commercial mortgage-related securities), asset-backed securities and collateralized loan obligations ("CLOs"). The Fund expects to invest significantly in one or more sectors and may at times invest primarily in a single sector. Although the Fund does not expect to allocate more than 20% of its assets to bills, notes and bonds issued by the U.S. Department of the Treasury under normal circumstances, there is no limit on the Fund's ability to invest in such securities when DoubleLine ETF Adviser LP (the "Adviser") believes doing so is consistent with the Fund's investment objectives.