DHEAX vs. ILCG

Last updated Jun 13, 2026

DHEAX (Diamond Hill Short Duration Securitized Bond Fund) and ILCG (iShares Morningstar Growth ETF) are both funds - DHEAX is a Short-Term Bond fund managed by Diamond Hill, while ILCG is a Large Cap Growth Equities fund tracking the Morningstar US Large-Mid Cap Broad Growth Index Gross. Over the past 5 years, DHEAX returned 4.24%/yr vs 13.61%/yr for ILCG. At a 0.01 correlation, their price movements are largely independent. DHEAX charges 0.83%/yr vs 0.04%/yr for ILCG.

Performance

DHEAX vs. ILCG - Performance Comparison

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

Returns By Period

In the year-to-date period, DHEAX achieves a 1.75% return, which is significantly lower than ILCG's 9.97% return.

DHEAX

• 1D: 0.10%
• 1M: 0.43%
• YTD: 1.75%
• 6M: 1.83%
• 1Y: 4.80%
• 3Y*: 7.45%
• 5Y*: 4.24%
• 10Y*: —

ILCG

• 1D: 0.32%
• 1M: -1.30%
• YTD: 9.97%
• 6M: 11.01%
• 1Y: 22.69%
• 3Y*: 24.07%
• 5Y*: 13.61%
• 10Y*: 17.85%

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

DHEAX vs. ILCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHEAX Diamond Hill Short Duration Securitized Bond Fund	1.75%	5.70%	9.15%	8.38%	-3.57%	2.42%	2.87%	4.44%	2.88%	3.97%
ILCG iShares Morningstar Growth ETF	9.97%	16.71%	32.82%	40.41%	-31.75%	24.33%	38.56%	33.22%	2.06%	30.57%

Correlation

The correlation between DHEAX and ILCG is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.01

Return for Risk

DHEAX vs. ILCG — 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: 99
DHEAX Calmar Ratio Rank: 99
DHEAX Martin Ratio Rank: 99

ILCG

ILCG Risk / Return Rank: 39
ILCG Sharpe Ratio Rank: 43
ILCG Sortino Ratio Rank: 39
ILCG Omega Ratio Rank: 41
ILCG Calmar Ratio Rank: 34
ILCG Martin Ratio Rank: 37

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. ILCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Diamond Hill Short Duration Securitized Bond Fund (DHEAX) and iShares Morningstar Growth ETF (ILCG). 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.

	DHEAX	ILCG	Difference
Sharpe ratio: Return per unit of total volatility	4.47	1.33	+3.14
Sortino ratio: Return per unit of downside risk	7.56	1.81	+5.75
Omega ratio: Gain probability vs. loss probability	2.48	1.24	+1.24
Calmar ratio: Return relative to maximum drawdown	9.84	1.46	+8.38
Martin ratio: Return relative to average drawdown	43.14	5.04	+38.10

DHEAX vs. ILCG - Sharpe Ratio Comparison

The current DHEAX Sharpe Ratio is 4.47, which is higher than the ILCG Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of DHEAX and ILCG, 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

DHEAX vs. ILCG - Drawdown Comparison

The maximum DHEAX drawdown since its inception was -12.34%, smaller than the maximum ILCG drawdown of -52.98%. Use the drawdown chart below to compare losses from any high point for DHEAX and ILCG.

Drawdown Indicators

	DHEAX	ILCG	Difference
Max Drawdown Largest peak-to-trough decline	-12.34%	-52.98%	+40.64%
Max Drawdown (1Y) Largest decline over 1 year	-0.50%	-15.65%	+15.15%
Max Drawdown (3Y) Largest decline over 3 years	-0.50%	-23.10%	+22.60%
Max Drawdown (5Y) Largest decline over 5 years	-5.06%	-35.38%	+30.32%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.38%	—
Current Drawdown Current decline from peak	0.00%	-4.92%	+4.92%
Average Drawdown Average peak-to-trough decline	-0.80%	-8.21%	+7.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.11%	4.51%	-4.40%

Volatility

DHEAX vs. ILCG - Volatility Comparison

The current volatility for Diamond Hill Short Duration Securitized Bond Fund (DHEAX) is 0.18%, while iShares Morningstar Growth ETF (ILCG) has a volatility of 6.77%. This indicates that DHEAX experiences smaller price fluctuations and is considered to be less risky than ILCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DHEAX	ILCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.18%	6.77%	-6.59%
Volatility (6M) Calculated over the trailing 6-month period	0.73%	13.98%	-13.25%
Volatility (1Y) Calculated over the trailing 1-year period	1.10%	17.16%	-16.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.52%	22.12%	-20.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.26%	21.59%	-19.33%

DHEAX vs. ILCG - Expense Ratio Comparison

DHEAX has a 0.83% expense ratio, which is higher than ILCG's 0.04% expense ratio.

Dividends

DHEAX vs. ILCG - Dividend Comparison

DHEAX's dividend yield for the trailing twelve months is around 5.63%, more than ILCG's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHEAX Diamond Hill Short Duration Securitized Bond Fund	5.63%	5.27%	5.94%	5.25%	3.41%	2.31%	2.92%	3.76%	3.45%	3.20%	0.00%	0.00%
ILCG iShares Morningstar Growth ETF	0.42%	0.47%	0.50%	0.69%	0.75%	0.34%	0.28%	0.54%	0.81%	0.89%	0.95%	0.99%

Frequently Asked Questions

Can I hold both DHEAX and ILCG in my portfolio?

DHEAX and ILCG have a correlation of 0.08, 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 ILCG?

ILCG has higher volatility (6.77%) compared to DHEAX (0.18%). In terms of maximum drawdown, DHEAX dropped -12.34% vs ILCG's -52.98%.

Which has better risk-adjusted returns?

DHEAX currently has the higher Sharpe Ratio (4.47 vs 1.33), 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.