DCSVX vs. DHSIX

Last updated Jul 14, 2026

DCSVX (Dunham Small Cap Value Fund) and DHSIX (Diamond Hill Small Cap Fund Class I) are both Small Cap Value Equities funds. Over the past 10 years, DCSVX returned 7.49%/yr vs 10.71%/yr for DHSIX. Their correlation of 0.93 suggests significant overlap in exposure. DCSVX charges 2.05%/yr vs 0.97%/yr for DHSIX.

Performance

DCSVX vs. DHSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dunham Small Cap Value Fund (DCSVX) and Diamond Hill Small Cap Fund Class I (DHSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DCSVX achieves a 23.10% return, which is significantly lower than DHSIX's 25.26% return. Over the past 10 years, DCSVX has underperformed DHSIX with an annualized return of 7.49%, while DHSIX has yielded a comparatively higher 10.71% annualized return.

DCSVX

• 1D: 0.21%
• 1M: 1.14%
• 6M: 16.93%
• YTD: 23.10%
• 1Y: 35.43%
• 3Y*: 10.53%
• 5Y*: 5.23%
• 10Y*: 7.49%

DHSIX

• 1D: 0.25%
• 1M: 2.56%
• 6M: 18.19%
• YTD: 25.26%
• 1Y: 35.20%
• 3Y*: 20.14%
• 5Y*: 12.99%
• 10Y*: 10.71%

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

DCSVX vs. DHSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DCSVX Dunham Small Cap Value Fund	23.10%	8.67%	-8.49%	14.23%	-13.01%	31.15%	-3.67%	20.13%	-12.04%	7.93%
DHSIX Diamond Hill Small Cap Fund Class I	25.26%	11.83%	13.10%	24.25%	-14.85%	32.69%	-0.27%	21.83%	-15.00%	10.89%

Correlation

The correlation between DCSVX and DHSIX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Apr 29, 2005	0.93

The correlation between DCSVX and DHSIX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

DCSVX vs. DHSIX — Risk / Return Rank

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

DCSVX

DCSVX Risk / Return Rank: 79
DCSVX Sharpe Ratio Rank: 78
DCSVX Sortino Ratio Rank: 78
DCSVX Omega Ratio Rank: 71
DCSVX Calmar Ratio Rank: 85
DCSVX Martin Ratio Rank: 85

DHSIX

DHSIX Risk / Return Rank: 66
DHSIX Sharpe Ratio Rank: 60
DHSIX Sortino Ratio Rank: 65
DHSIX Omega Ratio Rank: 52
DHSIX Calmar Ratio Rank: 83
DHSIX Martin Ratio Rank: 67

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.

DCSVX vs. DHSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dunham Small Cap Value Fund (DCSVX) and Diamond Hill Small Cap Fund Class I (DHSIX). 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.

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.

	DCSVX	DHSIX	Difference
Sharpe ratio: Return per unit of total volatility	2.02	1.72	+0.30
Sortino ratio: Return per unit of downside risk	2.90	2.55	+0.35
Omega ratio: Gain probability vs. loss probability	1.35	1.30	+0.05
Calmar ratio: Return relative to maximum drawdown	3.24	3.10	+0.13
Martin ratio: Return relative to average drawdown	12.03	9.97	+2.05

DCSVX vs. DHSIX - Sharpe Ratio Comparison

The current DCSVX Sharpe Ratio is 2.02, which is comparable to the DHSIX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of DCSVX and DHSIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DCSVX vs. DHSIX - Drawdown Comparison

The maximum DCSVX drawdown since its inception was -62.83%, which is greater than DHSIX's maximum drawdown of -52.83%. Use the drawdown chart below to compare losses from any high point for DCSVX and DHSIX.

Drawdown Indicators

	DCSVX	DHSIX	Difference
Max Drawdown Largest peak-to-trough decline	-62.83%	-52.83%	-10.00%
Max Drawdown (1Y) Largest decline over 1 year	-10.55%	-10.97%	+0.42%
Max Drawdown (3Y) Largest decline over 3 years	-37.13%	-28.33%	-8.80%
Max Drawdown (5Y) Largest decline over 5 years	-37.13%	-28.33%	-8.80%
Max Drawdown (10Y) Largest decline over 10 years	-46.71%	-45.96%	-0.75%
Current Drawdown Current decline from peak	-1.11%	-3.24%	+2.13%
Average Drawdown Average peak-to-trough decline	-11.81%	-8.34%	-3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	3.42%	-0.57%

Volatility

DCSVX vs. DHSIX - Volatility Comparison

The current volatility for Dunham Small Cap Value Fund (DCSVX) is 3.90%, while Diamond Hill Small Cap Fund Class I (DHSIX) has a volatility of 5.75%. This indicates that DCSVX experiences smaller price fluctuations and is considered to be less risky than DHSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DCSVX	DHSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	5.75%	-1.85%
Volatility (6M) Calculated over the trailing 6-month period	11.82%	14.06%	-2.24%
Volatility (1Y) Calculated over the trailing 1-year period	16.91%	19.82%	-2.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.40%	21.48%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.29%	22.20%	+1.09%

DCSVX vs. DHSIX - Expense Ratio Comparison

DCSVX has a 2.05% expense ratio, which is higher than DHSIX's 0.97% expense ratio.

Dividends

DCSVX vs. DHSIX - Dividend Comparison

DCSVX's dividend yield for the trailing twelve months is around 6.07%, more than DHSIX's 4.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DCSVX Dunham Small Cap Value Fund	6.07%	7.47%	0.00%	3.00%	10.28%	13.90%	0.21%	0.00%	15.82%	12.82%	3.28%	3.92%
DHSIX Diamond Hill Small Cap Fund Class I	4.58%	5.74%	15.81%	30.09%	18.06%	17.39%	0.61%	7.13%	10.46%	6.90%	2.68%	1.95%

Frequently Asked Questions

Can I hold both DCSVX and DHSIX in my portfolio?

With a correlation of 0.90, DCSVX and DHSIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DCSVX or DHSIX?

DHSIX has higher volatility (5.75%) compared to DCSVX (3.90%). In terms of maximum drawdown, DCSVX dropped -62.83% vs DHSIX's -52.83%.

Which has better risk-adjusted returns?

DCSVX currently has the higher Sharpe Ratio (2.02 vs 1.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.