DHEAX vs. GPICX

Last updated Jun 4, 2026

DHEAX (Diamond Hill Short Duration Securitized Bond Fund) and GPICX (GuidepathConservative Income Fund) are both Short-Term Bond funds. Over the past 5 years, DHEAX returned 4.24%/yr vs 2.42%/yr for GPICX. At a 0.31 correlation, their price movements are largely independent. DHEAX charges 0.83%/yr vs 0.75%/yr for GPICX.

Performance

DHEAX vs. GPICX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Diamond Hill Short Duration Securitized Bond Fund (DHEAX) and GuidepathConservative Income Fund (GPICX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DHEAX achieves a 1.65% return, which is significantly higher than GPICX's 0.99% return.

DHEAX

• 1D: 0.00%
• 1M: 0.43%
• YTD: 1.65%
• 6M: 1.83%
• 1Y: 5.00%
• 3Y*: 7.42%
• 5Y*: 4.24%
• 10Y*: —

GPICX

• 1D: 0.00%
• 1M: 0.14%
• YTD: 0.99%
• 6M: 1.28%
• 1Y: 3.43%
• 3Y*: 4.09%
• 5Y*: 2.42%
• 10Y*: —

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

DHEAX vs. GPICX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DHEAX Diamond Hill Short Duration Securitized Bond Fund	1.65%	5.70%	9.15%	8.38%	-3.57%	2.42%	2.87%	4.44%	1.79%
GPICX GuidepathConservative Income Fund	0.99%	3.49%	4.73%	4.87%	-1.67%	0.08%	-0.23%	2.30%	0.80%

Correlation

The correlation between DHEAX and GPICX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jun 21, 2018	0.31

The correlation between DHEAX and GPICX shifts across timeframes, from 0.29 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DHEAX vs. GPICX — Risk / Return Rank

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

DHEAX

DHEAX Risk / Return Rank: 99
DHEAX Sharpe Ratio Rank: 99
DHEAX Sortino Ratio Rank: 99
DHEAX Omega Ratio Rank: 98
DHEAX Calmar Ratio Rank: 99
DHEAX Martin Ratio Rank: 99

GPICX

GPICX Risk / Return Rank: 99
GPICX Sharpe Ratio Rank: 99
GPICX Sortino Ratio Rank: 99
GPICX Omega Ratio Rank: 99
GPICX Calmar Ratio Rank: 99
GPICX 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.

DHEAX vs. GPICX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Diamond Hill Short Duration Securitized Bond Fund (DHEAX) and GuidepathConservative Income Fund (GPICX). 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.

	DHEAX	GPICX	Difference
Sharpe ratio: Return per unit of total volatility	4.52	4.17	+0.35
Sortino ratio: Return per unit of downside risk	7.62	7.91	-0.29
Omega ratio: Gain probability vs. loss probability	2.47	2.84	-0.38
Calmar ratio: Return relative to maximum drawdown	10.05	13.88	-3.83
Martin ratio: Return relative to average drawdown	43.99	69.49	-25.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DHEAX vs. GPICX - Sharpe Ratio Comparison

The current DHEAX Sharpe Ratio is 4.52, which is comparable to the GPICX Sharpe Ratio of 4.17. The chart below compares the historical Sharpe Ratios of DHEAX and GPICX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DHEAX	GPICX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.52	4.17	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.80	2.21	+0.59
Sharpe Ratio (All Time) Calculated using the full available price history	1.76	1.80	-0.04

Drawdowns

DHEAX vs. GPICX - Drawdown Comparison

The maximum DHEAX drawdown since its inception was -12.34%, which is greater than GPICX's maximum drawdown of -3.10%. Use the drawdown chart below to compare losses from any high point for DHEAX and GPICX.

Drawdown Indicators

	DHEAX	GPICX	Difference
Max Drawdown Largest peak-to-trough decline	-12.34%	-3.10%	-9.24%
Max Drawdown (1Y) Largest decline over 1 year	-0.50%	-0.25%	-0.25%
Max Drawdown (3Y) Largest decline over 3 years	-0.50%	-0.52%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	-5.06%	-2.79%	-2.27%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.80%	-0.56%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.11%	0.05%	+0.06%

Volatility

DHEAX vs. GPICX - Volatility Comparison

Diamond Hill Short Duration Securitized Bond Fund (DHEAX) and GuidepathConservative Income Fund (GPICX) have volatilities of 0.26% and 0.27%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DHEAX	GPICX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.26%	0.27%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	0.74%	0.62%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	1.11%	0.83%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.52%	1.10%	+0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.27%	1.06%	+1.21%

DHEAX vs. GPICX - Expense Ratio Comparison

DHEAX has a 0.83% expense ratio, which is higher than GPICX's 0.75% expense ratio.

Dividends

DHEAX vs. GPICX - Dividend Comparison

DHEAX's dividend yield for the trailing twelve months is around 5.64%, more than GPICX's 3.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHEAX Diamond Hill Short Duration Securitized Bond Fund	5.64%	5.27%	5.94%	5.25%	3.41%	2.31%	2.92%	3.76%	3.45%	3.20%
GPICX GuidepathConservative Income Fund	3.80%	3.86%	4.53%	4.23%	1.51%	0.48%	0.57%	1.67%	1.30%	0.00%

Frequently Asked Questions

Can I hold both DHEAX and GPICX in my portfolio?

DHEAX and GPICX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DHEAX or GPICX?

GPICX has higher volatility (0.27%) compared to DHEAX (0.26%). In terms of maximum drawdown, DHEAX dropped -12.34% vs GPICX's -3.10%.

Which has better risk-adjusted returns?

DHEAX currently has the higher Sharpe Ratio (4.52 vs 4.17), 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.