Diamond Hill Long-Short Fund (DIAMX) belongs to the Long-Short category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with DIAMX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to DIAMX
DIAMX charges 1.36% annually. There are 13 mutual funds in the Long-Short category with lower expense ratios, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Parvin Hedged Equity Solari World Fund | 0.01% | — | Jan 2021 | DIAMX vs PHSWX | |
| MFS Managed Wealth Fund | 0.67% | — | Jun 2014 | DIAMX vs MNWIX | |
| WisdomTree Efficient Long/Short US Equity Fund | 0.88% | 12.07M | Jan 2026 | DIAMX vs WTLS | |
| Alger Dynamic Opportunities Fund | 0.91% | — | Nov 2009 | DIAMX vs SPEDX | |
| Salient Tactical Plus Fund | 1.08% | — | Dec 2012 | DIAMX vs BTPIX |
Best Risk-Adjusted Alternatives to DIAMX
DIAMX has a PortfoliosLab risk / return rank of 15. There are 33 mutual funds in the Long-Short category with higher risk-adjusted ranks, going as high as 98.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Boston Partners Long/Short Equity Fund | 98 | — | Nov 1998 | DIAMX vs BPLEX | |
| Vanguard Market Neutral Fund Institutional Shares | 97 | — | Oct 1998 | DIAMX vs VMNIX | |
| Vanguard Market Neutral Fund Investor Shares | 97 | 601.30M | Nov 1998 | DIAMX vs VMNFX | |
| Quantitative U.S. Long/Short Equity Portfolio | 95 | — | Sep 2006 | DIAMX vs GTAPX | |
| Knights of Columbus Long/Short Equity Fund | 95 | — | Dec 2019 | DIAMX vs KCEIX |
Top Performing DIAMX Alternatives (YTD)
DIAMX is at -2.49% YTD. There are 44 mutual funds in the Long-Short category with higher YTD returns, going as high as 21.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Boston Partners Long/Short Equity Fund | 21.35% | — | Nov 1998 | DIAMX vs BPLEX | |
| Vanguard Market Neutral Fund Investor Shares | 16.18% | 601.30M | Nov 1998 | DIAMX vs VMNFX | |
| Vanguard Market Neutral Fund Institutional Shares | 16.18% | — | Oct 1998 | DIAMX vs VMNIX | |
| Guggenheim Alpha Opportunity Fund | 15.92% | — | Jul 2003 | DIAMX vs SAOAX | |
| Wasatch Long/Short Alpha Fund | 13.20% | — | Sep 2021 | DIAMX vs WALSX |
Lowest Volatility Alternatives to DIAMX
DIAMX has 7.98% 1-year volatility. There are 12 mutual funds in the Long-Short category with lower 1-year volatility, going as low as 5.67%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Neuberger Berman Long Short Fund | 5.67% | — | Dec 2011 | DIAMX vs NLSIX | |
| AB Select US Long/Short Portfolio | 5.75% | — | Dec 2012 | DIAMX vs ASILX | |
| MFS Managed Wealth Fund | 6.03% | — | Jun 2014 | DIAMX vs MNWIX | |
| Wilmington Global Alpha Equities Fund | 6.25% | — | Jan 2012 | DIAMX vs WRAIX | |
| Knights of Columbus Long/Short Equity Fund | 6.51% | — | Dec 2019 | DIAMX vs KCEIX |
Lowest Drawdown Alternatives to DIAMX
DIAMX has a 1-year max drawdown of -9.06%. There are 32 mutual funds in the Long-Short category with shallower 1-year drawdowns, going as shallow as -2.82%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Knights of Columbus Long/Short Equity Fund | -2.82% | — | Dec 2019 | DIAMX vs KCEIX | |
| Quantitative U.S. Long/Short Equity Portfolio | -3.01% | — | Sep 2006 | DIAMX vs GTAPX | |
| AB Select US Long/Short Portfolio | -3.61% | — | Dec 2012 | DIAMX vs ASILX | |
| Gotham Absolute Return Fund | -3.85% | — | Aug 2012 | DIAMX vs GARIX | |
| Persimmon Long/Short Fund | -3.90% | — | Dec 2012 | DIAMX vs LSEIX |
Other Mutual Funds from Diamond Hill
The 10 most viewed Diamond Hill mutual funds shown here include DHEAX, DHEIX, DHLAX and span 6 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Diamond Hill Short Duration Securitized Bond Fund | Short-Term Bond | 99 | 2.33% | — | Jul 2016 | DIAMX vs DHEAX | |
| Diamond Hill Short Duration Securitized Bond Fund ... | Short-Term Bond | 99 | 2.40% | — | Jul 2016 | DIAMX vs DHEIX | |
| Diamond Hill Large Cap Fund | Large Cap Value Equities | 19 | 6.03% | — | Jun 2001 | DIAMX vs DHLAX | |
| Diamond Hill All Cap Select Fund | Mid Cap Value Equities | 35 | 8.39% | — | Dec 2005 | DIAMX vs DHTAX | |
| Diamond Hill Core Bond Fund | Intermediate Core Bond | 18 | -0.31% | — | Jul 2016 | DIAMX vs DHRAX | |
| Diamond Hill Small Cap Fund | Small Cap Value Equities | 84 | 27.58% | — | Dec 2000 | DIAMX vs DHSCX | |
| Diamond Hill Mid Cap Fund | Mid Cap Value Equities | 26 | 7.13% | — | Dec 2013 | DIAMX vs DHPAX | |
| Diamond Hill Small-Mid Cap Fund | Mid Cap Value Equities | 21 | 8.12% | — | Dec 2005 | DIAMX vs DHMAX | |
| Diamond Hill International Fund | Foreign Large Cap Equities | 58 | 10.11% | — | Jun 2019 | DIAMX vs DHIAX | |
| Diamond Hill Small Cap Fund Class I | Small Cap Value Equities | 84 | 27.79% | — | Dec 2000 | DIAMX vs DHSIX |
Often Compared With DIAMX
Investors most often compare DIAMX with QRPIX, BPIRX, FLSPX. These 20 comparison targets span 8 categories, based on PortfoliosLab usage data.
Compare DIAMX with Any Fund or Stock
Compare DIAMX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair DIAMX with funds that move differently
Diamond Hill Long-Short Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to DIAMX.
Explore DIAMX Diversifiers