APSTX vs. DHEIX

Last updated Apr 1, 2026

Compare and contrast key facts about Cavanal Hill Limited Duration Fund (APSTX) and Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX).

APSTX is managed by Cavanal Hill funds. It was launched on Oct 19, 1994. DHEIX is a passively managed fund by Diamond Hill that tracks the performance of the Bloomberg US 1-3 Yr. Gov./Credit Index. It was launched on Jul 5, 2016.

Performance

APSTX vs. DHEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cavanal Hill Limited Duration Fund (APSTX) and Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX). The values are adjusted to include any dividend payments, if applicable.

APSTX vs. DHEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APSTX Cavanal Hill Limited Duration Fund	-0.03%	5.21%	4.96%	5.13%	-5.78%	-0.73%	3.83%	4.02%	1.17%	1.17%
DHEIX Diamond Hill Short Duration Securitized Bond Fund Class I	0.82%	6.06%	9.33%	8.91%	-3.38%	2.74%	3.09%	4.85%	3.18%	4.23%

Returns By Period

In the year-to-date period, APSTX achieves a -0.03% return, which is significantly lower than DHEIX's 0.82% return.

APSTX

• 1D: 0.21%
• 1M: -1.27%
• YTD: -0.03%
• 6M: 1.09%
• 1Y: 3.09%
• 3Y*: 4.49%
• 5Y*: 1.70%
• 10Y*: 1.85%

DHEIX

• 1D: 0.13%
• 1M: -0.27%
• YTD: 0.82%
• 6M: 1.75%
• 1Y: 5.26%
• 3Y*: 7.69%
• 5Y*: 4.48%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

APSTX vs. DHEIX - Expense Ratio Comparison

APSTX has a 0.76% expense ratio, which is higher than DHEIX's 0.53% expense ratio.

APSTX

Cavanal Hill Limited Duration Fund

DHEIX

Diamond Hill Short Duration Securitized Bond Fund Class I

Return for Risk

APSTX vs. DHEIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

APSTX

APSTX Risk / Return Rank: 80
APSTX Sharpe Ratio Rank: 77
APSTX Sortino Ratio Rank: 81
APSTX Omega Ratio Rank: 74
APSTX Calmar Ratio Rank: 88
APSTX Martin Ratio Rank: 80

DHEIX

DHEIX Risk / Return Rank: 99
DHEIX Sharpe Ratio Rank: 100
DHEIX Sortino Ratio Rank: 99
DHEIX Omega Ratio Rank: 99
DHEIX Calmar Ratio Rank: 99
DHEIX Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

APSTX vs. DHEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cavanal Hill Limited Duration Fund (APSTX) and Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	APSTX	DHEIX	Difference
Sharpe ratio Return per unit of total volatility	1.40	4.60	-3.21
Sortino ratio Return per unit of downside risk	2.09	8.07	-5.98
Omega ratio Gain probability vs. loss probability	1.28	2.53	-1.25
Calmar ratio Return relative to maximum drawdown	2.37	10.74	-8.37
Martin ratio Return relative to average drawdown	7.86	40.46	-32.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APSTX vs. DHEIX - Sharpe Ratio Comparison

The current APSTX Sharpe Ratio is 1.40, which is lower than the DHEIX Sharpe Ratio of 4.60. The chart below compares the historical Sharpe Ratios of APSTX and DHEIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	APSTX	DHEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	4.60	-3.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	2.96	-2.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	1.87	-1.10

Correlation

The correlation between APSTX and DHEIX is 0.55, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

APSTX vs. DHEIX - Dividend Comparison

APSTX's dividend yield for the trailing twelve months is around 2.95%, less than DHEIX's 5.98% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APSTX Cavanal Hill Limited Duration Fund	2.95%	3.23%	2.85%	2.60%	2.02%	1.46%	1.58%	2.24%	2.00%	1.38%	1.24%	21.97%
DHEIX Diamond Hill Short Duration Securitized Bond Fund Class I	5.98%	5.51%	6.21%	5.52%	3.72%	2.62%	3.22%	4.05%	3.74%	3.45%	0.00%	0.00%

Drawdowns

APSTX vs. DHEIX - Drawdown Comparison

The maximum APSTX drawdown since its inception was -19.32%, which is greater than DHEIX's maximum drawdown of -12.33%. Use the drawdown chart below to compare losses from any high point for APSTX and DHEIX.

Drawdown Indicators

	APSTX	DHEIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.32%	-12.33%	-6.99%
Max Drawdown (1Y) Largest decline over 1 year	-1.48%	-0.50%	-0.98%
Max Drawdown (5Y) Largest decline over 5 years	-8.47%	-4.87%	-3.60%
Max Drawdown (10Y) Largest decline over 10 years	-8.57%	—	—
Current Drawdown Current decline from peak	-1.27%	-0.27%	-1.00%
Average Drawdown Average peak-to-trough decline	-1.17%	-0.77%	-0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.45%	0.13%	+0.32%

Volatility

APSTX vs. DHEIX - Volatility Comparison

Cavanal Hill Limited Duration Fund (APSTX) has a higher volatility of 0.87% compared to Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX) at 0.38%. This indicates that APSTX's price experiences larger fluctuations and is considered to be riskier than DHEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APSTX	DHEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	0.38%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	1.51%	0.73%	+0.78%
Volatility (1Y) Calculated over the trailing 1-year period	2.37%	1.15%	+1.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.51%	1.52%	+0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.10%	2.28%	-0.18%