- Inception Date
- Jan 1, 2013
- Category
- High Yield Bonds
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
DHF Performance Chart
Dimensional High Yield Fund (DHF) is up 0.3% since the beginning of the year. DHF is currently trading at $2 per share. Investors who bought $1,000 worth of DHF shares 5 years ago would now be looking at an investment worth $1,123.
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Returns By Period
Dimensional High Yield Fund (DHF) has returned 0.33% so far this year and 2.75% over the past 12 months. Over the last ten years, DHF has returned 5.54% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Dimensional High Yield Fund
- 1D
- 0.00%
- 1M
- -0.52%
- YTD
- 0.33%
- 6M
- 0.23%
- 1Y
- 2.75%
- 3Y*
- 12.25%
- 5Y*
- 2.35%
- 10Y*
- 5.54%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
DHF Monthly Returns History
Based on dividend-adjusted daily data since Apr 27, 1998, DHF's average daily return is +0.02%, while the average monthly return is +0.42%. At this rate, an investment would double in approximately 13.8 years.
Historically, 55% of months were positive and 45% were negative. The best month was Jan 2001 with a return of +23.5%, while the worst month was Jun 2002 at -23.0%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 11 months.
On a daily basis, DHF closed higher 45% of trading days. The best single day was Oct 13, 2008 with a return of +19.7%, while the worst single day was Mar 18, 2020 at -17.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.82% | -1.68% | -1.28% | 1.15% | 1.13% | -1.73% | 0.33% | ||||||
| 2025 | 2.35% | 0.29% | -1.25% | -3.58% | 3.60% | 4.31% | -0.87% | 2.25% | 0.29% | 0.68% | -1.26% | -0.99% | 5.67% |
| 2024 | 2.18% | 0.65% | 4.19% | -3.83% | 5.54% | 0.31% | 6.15% | 2.29% | 4.99% | -3.44% | 3.41% | -2.48% | 21.12% |
| 2023 | 6.94% | -1.97% | -2.90% | 3.00% | -2.03% | 3.49% | 3.41% | -1.53% | -3.38% | -1.66% | 7.92% | 3.58% | 15.00% |
| 2022 | -4.58% | -3.84% | 0.31% | -6.58% | -0.83% | -9.96% | 6.61% | -2.17% | -8.68% | 3.76% | 9.68% | -7.11% | -22.70% |
| 2021 | -2.33% | 4.85% | 2.04% | 2.97% | 0.04% | 17.03% | -3.52% | -3.40% | -3.24% | 3.78% | -6.30% | -0.09% | 10.35% |
Benchmark Metrics
Dimensional High Yield Fund has an annualized alpha of 0.98%, beta of 0.47, and R2 of 0.20 versus S&P 500 Index. Calculated based on daily prices since April 27, 1998.
- This fund participated in 81.96% of S&P 500 Index downside but only 64.14% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.47 may look defensive, but with R2 of 0.20 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.20 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 0.98%
- Beta
- 0.47
- R²
- 0.20
- Upside Capture
- 64.14%
- Downside Capture
- 81.96%
Expense Ratio
DHF has an expense ratio of 0.04%, which is considered low.
Return for Risk
Risk / Return Rank
DHF ranks 4 for risk / return — in the bottom 4% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Dimensional High Yield Fund (DHF) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DHF | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.80 | ||
| Sortino ratioReturn per unit of downside risk | -2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.37 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.32 | 2.78 | -2.47 |
| Martin ratioReturn relative to average drawdown | 0.88 | 12.44 | -11.56 |
Dividends
Dividend History
Dimensional High Yield Fund provided a 8.75% dividend yield over the last twelve months, with an annual payout of $0.21 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.21 | $0.21 | $0.21 | $0.18 | $0.22 | $0.25 | $0.26 | $0.26 | $0.28 | $0.30 | $0.33 | $0.35 |
Dividend yield | 8.75% | 8.47% | 8.14% | 7.86% | 10.12% | 8.24% | 8.60% | 8.52% | 10.41% | 8.98% | 9.76% | 11.30% |
Monthly Dividends
The table displays the monthly dividend distributions for Dimensional High Yield Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.09 | ||||||
| 2025 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.04 | $0.21 |
| 2024 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.04 | $0.21 |
| 2023 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.18 |
| 2022 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.22 |
| 2021 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.04 | $0.25 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Dimensional High Yield Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Dimensional High Yield Fund was 71.32%, occurring on Nov 21, 2008. Recovery took 472 trading sessions.
The current Dimensional High Yield Fund drawdown is 3.85%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -71.32%Nov 2008 | 10y 5mo | 1y 10mo | 12y 4moJun 1998 - Oct 2010 |
COVID crash2020 | -42.94%Mar 2020 | 28d | 8mo 5d | 9mo 3dFeb 2020 - Nov 2020 |
Bear market2022 | -37.82%Oct 2022 | 1y 3mo | 2y 8mo | 4y 9dJul 2021 - Jul 2025 |
2016 bear market2016 | -26.19%Feb 2016 | 1y 7mo | 6mo 14d | 2y 1moJun 2014 - Aug 2016 |
Rate-hike selloffLate 2018 | -19.31%Dec 2018 | 2mo 19d | 3mo 11d | 6moOct 2018 - Apr 2019 |
Drawdown Indicators
| DHF | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.32% | -56.78% | -14.54% |
Max Drawdown (1Y)Largest decline over 1 year | -8.66% | -9.10% | +0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -11.81% | -18.90% | +7.09% |
Max Drawdown (5Y)Largest decline over 5 years | -37.82% | -25.43% | -12.39% |
Max Drawdown (10Y)Largest decline over 10 years | -42.94% | -33.92% | -9.02% |
Current DrawdownCurrent decline from peak | -3.85% | -1.80% | -2.05% |
Average DrawdownAverage peak-to-trough decline | -22.99% | -10.71% | -12.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.13% | 2.03% | +1.10% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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