- ISIN
- US25264S8171
- CUSIP
- 25264S817
- Issuer
- Diamond Hill
- Inception Date
- Dec 30, 2005
- Category
- Mid Cap Value Equities
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Value
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
DHMAX Performance Chart
Diamond Hill Small-Mid Cap Fund (DHMAX) is up 2.7% since the beginning of the year. DHMAX is currently trading at $27 per share. Investors who bought $1,000 worth of DHMAX shares 5 years ago would now be looking at an investment worth $1,272.
Loading charts...
Returns By Period
Diamond Hill Small-Mid Cap Fund (DHMAX) has returned 2.66% so far this year and 12.46% over the past 12 months. Over the last ten years, DHMAX has returned 7.00% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Diamond Hill Small-Mid Cap Fund
- 1D
- 0.68%
- 1M
- 1.18%
- YTD
- 2.66%
- 6M
- 1.06%
- 1Y
- 12.46%
- 3Y*
- 8.32%
- 5Y*
- 4.93%
- 10Y*
- 7.00%
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%
DHMAX Monthly Returns History
Based on dividend-adjusted daily data since Jan 3, 2006, DHMAX's average daily return is +0.04%, while the average monthly return is +0.74%. At this rate, an investment would double in approximately 7.8 years.
Historically, 61% of months were positive and 39% were negative. The best month was Apr 2009 with a return of +22.1%, while the worst month was Mar 2020 at -25.1%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.
On a daily basis, DHMAX closed higher 52% of trading days. The best single day was Oct 13, 2008 with a return of +10.5%, while the worst single day was Mar 16, 2020 at -13.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.85% | 2.51% | -7.74% | 5.70% | -0.67% | 0.53% | 2.66% | ||||||
| 2025 | 2.20% | -2.46% | -3.91% | -2.75% | 3.59% | 4.60% | 3.39% | 3.92% | -1.09% | -2.13% | 2.92% | 0.18% | 8.26% |
| 2024 | -0.75% | 3.58% | 4.34% | -6.33% | 2.24% | -2.11% | 7.96% | 0.44% | -0.11% | -1.85% | 7.56% | -6.28% | 7.77% |
| 2023 | 11.28% | -0.12% | -7.58% | -0.68% | -4.76% | 9.20% | 2.94% | -4.37% | -5.65% | -6.78% | 9.78% | 10.19% | 11.15% |
| 2022 | -4.63% | 1.23% | 0.33% | -5.96% | 1.41% | -10.11% | 8.03% | -2.07% | -8.76% | 9.96% | 3.56% | -5.64% | -13.88% |
| 2021 | 0.04% | 10.93% | 3.42% | 5.84% | 2.39% | -2.80% | -1.06% | 3.35% | -1.21% | 3.83% | -2.43% | 5.69% | 30.75% |
Benchmark Metrics
Diamond Hill Small-Mid Cap Fund has an annualized alpha of -1.21%, beta of 1.01, and R2 of 0.80 versus S&P 500 Index. Calculated based on daily prices since January 03, 2006.
- This fund participated in 104.81% of S&P 500 Index downside but only 97.16% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 1.01 and R2 of 0.80, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -1.21%
- Beta
- 1.01
- R²
- 0.80
- Upside Capture
- 97.16%
- Downside Capture
- 104.81%
Expense Ratio
DHMAX has a high expense ratio of 1.21%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
DHMAX ranks 12 for risk / return — in the bottom 12% 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 Diamond Hill Small-Mid Cap Fund (DHMAX) 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.
| DHMAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.37 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 2.78 | -1.59 |
| Martin ratioReturn relative to average drawdown | 3.48 | 12.44 | -8.96 |
Dividends
Dividend History
Diamond Hill Small-Mid Cap Fund provided a 5.98% dividend yield over the last twelve months, with an annual payout of $1.59 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.59 | $1.59 | $1.97 | $0.25 | $1.15 | $1.56 | $0.11 | $1.09 | $0.84 | $0.10 | $0.37 | $0.22 |
Dividend yield | 5.98% | 6.14% | 7.75% | 1.00% | 5.01% | 5.55% | 0.49% | 4.81% | 4.51% | 0.45% | 1.74% | 1.20% |
Monthly Dividends
The table displays the monthly dividend distributions for Diamond Hill Small-Mid Cap 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.59 | $1.59 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.97 | $1.97 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.25 | $0.25 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.15 | $1.15 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.56 | $1.56 |
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.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the Diamond Hill Small-Mid Cap 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 Diamond Hill Small-Mid Cap Fund was 57.04%, occurring on Mar 9, 2009. Recovery took 283 trading sessions.
The current Diamond Hill Small-Mid Cap Fund drawdown is 3.37%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -57.04%Mar 2009 | 1y 9mo | 1y 1mo | 2y 10moJun 2007 - Apr 2010 |
COVID crash2020 | -45.46%Mar 2020 | 2mo 20d | 8mo 29d | 11mo 19dJan 2020 - Dec 2020 |
2011 bear market2011 | -24.36%Oct 2011 | 5mo 4d | 1y 3mo | 1y 8moMay 2011 - Jan 2013 |
2023 bear market2023 | -23.02%Oct 2023 | 1y 9mo | 5mo 2d | 2y 2moJan 2022 - Mar 2024 |
Rate-hike selloffLate 2018 | -21.20%Dec 2018 | 3mo 26d | 8mo 23d | 1y 14dAug 2018 - Sep 2019 |
Drawdown Indicators
| DHMAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.04% | -56.78% | -0.26% |
Max Drawdown (1Y)Largest decline over 1 year | -10.73% | -9.10% | -1.63% |
Max Drawdown (3Y)Largest decline over 3 years | -20.90% | -18.90% | -2.00% |
Max Drawdown (5Y)Largest decline over 5 years | -23.02% | -25.43% | +2.41% |
Max Drawdown (10Y)Largest decline over 10 years | -45.46% | -33.92% | -11.54% |
Current DrawdownCurrent decline from peak | -3.37% | -1.80% | -1.57% |
Average DrawdownAverage peak-to-trough decline | -7.39% | -10.71% | +3.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.67% | 2.03% | +1.64% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with DHMAX
Add Diamond Hill Small-Mid Cap Fund to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with DHMAX