# EDGAR Filing Document

**Accession Number:** 0001480207
**File Stem:** 0001193125-26-245167
**Filing Date:** 2026-5
**Character Count:** 7731
**Document Hash:** ab8a7576e68c71aa507a5a5d8eb57de8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-245167.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001193125-26-245167

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 13

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**EFFECTIVENESS DATE**: 20260528

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DoubleLine Funds Trust
- **CENTRAL INDEX KEY:** 0001480207

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-164298
- **FILM NUMBER:** 261035416

**BUSINESS ADDRESS:**
- **STREET 1:** 2002 N. TAMPA ST.,
- **STREET 2:** SUITE 200
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33602
- **BUSINESS PHONE:** (813) 791-7333

**MAIL ADDRESS:**
- **STREET 1:** 2002 N. TAMPA ST.,
- **STREET 2:** SUITE 200
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33602

## Series and Classes Contracts Data

### DoubleLine Flexible Income Fund (Series ID: S000044832)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class I    | DFLEX         | C000139216 |
| Class N    | DLINX         | C000139217 |
| Class R6   | DFFLX         | C000213588 |
| I2         | nan           | C000265923 |

---

## Series and Classes Contracts Data

### DoubleLine Flexible Income Fund (Series ID: S000044832)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000139216 | Class I      | DFLEX           |
| C000139217 | Class N      | DLINX           |
| C000213588 | Class R6     | DFFLX           |
| C000265923 | I2           |  |

?xml version='1.0' encoding='ASCII'? 497

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#### Filed pursuant to Rule 497(e)

#### File Nos. 333-164298 and 811-22378

#### DOUBLELINE FUNDS TRUST

#### DoubleLine Flexible Income Fund (the "Fund")
**Supplement dated May 28, 2026 to the Fund's Summary Prospectus, (the "Summary Prospectus"), Prospectus (the "Prospectus") and Statement of Additional Information ("SAI") dated November 1, 2025, as supplemented or amended from time to time**

*This supplement updates certain information contained in the above dated Summary Prospectus, Prospectus and Statement of Additional Information. Please review this important information carefully.* 

Effective May 29, 2026 (the "Effective Date"), the Fund's net operating expenses will be reduced. The following provides updated information regarding the Fund's expense limitation arrangement and net operating expenses:

*1.* *As of the Effective Date, the section of the Prospectus and Summary Prospectus entitled "Fund Summary – Annual Fund Operating Expenses" is hereby replaced in its entirety with the following:* 

**Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Share Class** | **Class I** | **Class I2** | **Class N** | **Class R6** |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management Fees | 0.62% | 0.62% | 0.62% | 0.62% |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distribution and/or Service (12b-1 Fees) |  |  | 0.25% |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Expenses (includes sub-transfer agent accounting or administrative services expenses) | 0.13% | 0.19%<sup>1</sup> | 0.13% | 0.07% |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquired Fund Fees and Expenses<sup>2</sup> | 0.01% | 0.01% | 0.01% | 0.01% |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Annual Fund Operating Expenses | 0.76% | 0.82% | 1.01% | 0.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fee Waiver and/or Expense Reimbursement<sup>3</sup> | (0.17)% | (0.17)% | (0.17)% | (0.11)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement | 0.59% | 0.65% | 0.84% | 0.59% |

---

<sup>1</sup> "Other expenses" for Class I2 shares are estimated for the current fiscal year. Actual expenses may differ from estimates.

<sup>2</sup> "Acquired Fund Fees and Expenses" are expenses indirectly incurred by the Fund as a result of its investments in one or more underlying funds, including exchange-traded funds ("ETFs") and money market funds. Because these costs are indirect, the Total Annual Fund Operating Expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements, since financial statements only include direct costs of the Fund and not the indirect costs of investing in the underlying funds.

<sup>3</sup> DoubleLine Capital LP (the "Adviser") has contractually agreed to waive its investment advisory fees and to reimburse the Fund for other ordinary operating expenses to the extent necessary to limit ordinary operating expenses to an amount not to exceed 0.58% for Class I shares, 0.64% for Class I2 shares, 0.83% for Class N shares and 0.58% for R6 shares. Ordinary operating expenses exclude taxes, commissions, mark-ups, litigation expenses, indemnification expenses, interest expenses, Acquired Fund Fees and Expenses, and any extraordinary expenses. These expense limitations will apply until at least August 1, 2027, except that they may be terminated by the Board of Trustees at any time. To the extent that the Adviser waives its investment advisory fee and/or reimburses the Fund for other ordinary operating expenses, it may seek reimbursement of a portion or all of such amounts at any time within three fiscal years after the fiscal year in which such amounts were waived or reimbursed. Any such recoupment may not cause the Fund's ordinary operating expenses to exceed the expense limitation that was in place when the fees were waived or expenses were reimbursed. Additionally, the Adviser would generally seek recoupment only in accordance with the terms of any expense limitation that is in place at the time of recoupment.

*2.* *As of the Effective Date, the section of the Prospectus and Summary Prospectus entitled "Fund Summary – Example" is hereby replaced in its entirety with the following:* 

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

This example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Fund's expense limitation for the first year). Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Class I** | **Class I2** | **Class N** | **Class R6** |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 Year | $60 | $66 | $86 | $60 |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 Years | $226 | $245 | $305 | $213 |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 Years | $406 | $438 | $541 | $379 |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 Years | $926 | $998 | $1221 | $860 |

---

*3.* *As of the Effective Date, corresponding changes reflecting the Fund's updated expense limitation arrangement are made to the table and accompanying disclosure in the section entitled "Advisory and Sub-Advisory Agreements" on page 205 of the Prospectus.* 

*4.* *As of the Effective Date, corresponding changes reflecting the Fund's updated expense limitation arrangement are made to the table in the section entitled "INVESTMENT ADVISORY AGREEMENTS" on page 119 of the SAI.* 

#### PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE