- ISIN
- US25264S6357
- CUSIP
- 25264S635
- Issuer
- Diamond Hill
- Inception Date
- Dec 31, 2013
- 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
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Performance
DHPAX Performance Chart
Diamond Hill Mid Cap Fund (DHPAX) is up 7.4% since the beginning of the year. DHPAX is currently trading at $17 per share. Investors who bought $1,000 worth of DHPAX shares 5 years ago would now be looking at an investment worth $1,384.
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Returns By Period
Diamond Hill Mid Cap Fund (DHPAX) has returned 7.38% so far this year and 14.23% over the past 12 months. Over the last ten years, DHPAX has returned 8.16% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
Diamond Hill Mid Cap Fund
- 1D
- -0.98%
- 1M
- 0.29%
- 6M
- 4.89%
- YTD
- 7.38%
- 1Y
- 14.23%
- 3Y*
- 11.80%
- 5Y*
- 6.71%
- 10Y*
- 8.16%
- ALL TIME*
- 7.80%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
DHPAX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2014, DHPAX's average daily return is +0.04%, while the average monthly return is +0.76%. At this rate, an investment would double in approximately 7.6 years.
Historically, 63% of months were positive and 37% were negative. The best month was Nov 2020 with a return of +13.5%, while the worst month was Mar 2020 at -26.0%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 3 months.
On a daily basis, DHPAX closed higher 52% of trading days. The best single day was Mar 24, 2020 with a return of +10.7%, while the worst single day was Mar 16, 2020 at -14.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.38% | 3.12% | -7.82% | 4.63% | -1.11% | 4.23% | 2.33% | 7.38% | |||||
| 2025 | 2.76% | -1.11% | -2.60% | -2.00% | 3.96% | 3.99% | 1.95% | 3.48% | -0.98% | -0.38% | 2.53% | 0.95% | 12.95% |
| 2024 | -0.18% | 4.53% | 4.92% | -5.08% | 2.53% | -2.01% | 6.26% | 1.65% | 0.38% | -1.94% | 6.16% | -6.24% | 10.48% |
| 2023 | 10.83% | -2.06% | -9.74% | 0.13% | -4.39% | 9.25% | 2.16% | -3.36% | -5.16% | -5.37% | 10.20% | 9.12% | 9.19% |
| 2022 | -4.19% | 1.85% | -0.06% | -5.95% | 0.82% | -11.03% | 7.38% | -2.49% | -9.23% | 9.62% | 5.51% | -4.55% | -13.67% |
| 2021 | -0.00% | 8.83% | 4.31% | 6.30% | 2.73% | -3.05% | -0.58% | 3.05% | -1.31% | 4.56% | -3.03% | 6.23% | 30.87% |
Benchmark Metrics
Diamond Hill Mid Cap Fund has an annualized alpha of -2.68%, beta of 0.97, and R2 of 0.73 versus S&P 500 Index. Calculated based on daily prices since January 02, 2014.
- This fund participated in 100.10% of S&P 500 Index downside but only 83.75% of its upside - more exposed to losses than it benefited from rallies.
- This fund had an annualized alpha of -2.68% versus S&P 500 Index - delivering less than market exposure alone would predict.
- With beta of 0.97 and R2 of 0.73, 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
- -2.68%
- Beta
- 0.97
- R²
- 0.73
- Upside Capture
- 83.75%
- Downside Capture
- 100.10%
Expense Ratio
DHPAX has a high expense ratio of 1.07%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
DHPAX ranks 25 for risk / return — above 25% of mutual funds peers on PortfoliosLab. Its historical combined result is below the peer median.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Diamond Hill Mid Cap Fund (DHPAX) 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.
| DHPAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.25 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 2.00 | -0.72 |
| Martin ratioReturn relative to average drawdown | 4.04 | 8.49 | -4.45 |
Dividends
Dividend History
Diamond Hill Mid Cap Fund provided a 16.83% dividend yield over the last twelve months, with an annual payout of $2.89 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 | $2.89 | $2.89 | $1.47 | $0.36 | $0.76 | $0.06 | $0.08 | $0.26 | $0.34 | $0.20 | $0.08 | $0.04 |
Dividend yield | 16.83% | 18.08% | 8.84% | 2.20% | 4.96% | 0.30% | 0.53% | 1.79% | 2.84% | 1.49% | 0.63% | 0.35% |
Monthly Dividends
The table displays the monthly dividend distributions for Diamond Hill 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 | $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 | $2.89 | $2.89 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.47 | $1.47 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.36 | $0.36 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.76 | $0.76 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.06 | $0.06 |
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 Diamond Hill 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 Mid Cap Fund was 46.59%, occurring on Mar 23, 2020. Recovery took 200 trading sessions.
The current Diamond Hill Mid Cap Fund drawdown is 1.44%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-46.59%Mar 2020 | 2mo 20d | 9mo 19d | 1y 4dJan 2020 - Jan 2021 | COVID crash2020 |
-24.02%Oct 2023 | 1y 9mo | 5mo 2d | 2y 2moJan 2022 - Mar 2024 | — |
-19.92%Dec 2018 | 3mo 1d | 4mo | 7mo 1dSep 2018 - Apr 2019 | Rate-hike selloffLate 2018 |
-17.45%Apr 2025 | 4mo 13d | 2mo 26d | 7mo 9dNov 2024 - Jul 2025 | 2025 selloff2025 |
-15.74%Jan 2016 | 7mo | 4mo 14d | 11mo 14dJun 2015 - Jun 2016 | — |
Drawdown Indicators
| DHPAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.59% | -56.78% | +10.19% |
Max Drawdown (1Y)Largest decline over 1 year | -10.02% | -9.10% | -0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -17.45% | -18.90% | +1.45% |
Max Drawdown (5Y)Largest decline over 5 years | -24.02% | -25.43% | +1.41% |
Max Drawdown (10Y)Largest decline over 10 years | -46.59% | -33.92% | -12.67% |
Current DrawdownCurrent decline from peak | -1.44% | -1.58% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -5.81% | -10.70% | +4.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 2.14% | +1.05% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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