DHEAX vs. IWP
DHEAX (Diamond Hill Short Duration Securitized Bond Fund) and IWP (iShares Russell Mid-Cap Growth ETF) are both funds - DHEAX is a Short-Term Bond fund managed by Diamond Hill, while IWP is a Mid Cap Growth Equities fund tracking the Russell Midcap Growth Index. Over the past 5 years, DHEAX returned 4.30%/yr vs 4.51%/yr for IWP. At a 0.02 correlation, their price movements are largely independent. DHEAX charges 0.83%/yr vs 0.23%/yr for IWP.
Performance
DHEAX vs. IWP - Performance Comparison
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Returns By Period
In the year-to-date period, DHEAX achieves a 2.19% return, which is significantly higher than IWP's 0.63% return.
DHEAX
- 1D
- 0.10%
- 1M
- 0.43%
- 6M
- 1.89%
- YTD
- 2.19%
- 1Y
- 4.58%
- 3Y*
- 7.26%
- 5Y*
- 4.30%
- 10Y*
- —
- ALL TIME*
- 3.98%
IWP
- 1D
- 0.00%
- 1M
- -3.07%
- 6M
- -2.52%
- YTD
- 0.63%
- 1Y
- -1.82%
- 3Y*
- 12.07%
- 5Y*
- 4.51%
- 10Y*
- 11.64%
- ALL TIME*
- 9.13%
DHEAX vs. IWP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DHEAX Diamond Hill Short Duration Securitized Bond Fund | 2.19% | 5.70% | 9.15% | 8.38% | -3.57% | 2.42% | 2.87% | 4.44% | 2.88% | 3.97% |
IWP iShares Russell Mid-Cap Growth ETF | 0.63% | 8.45% | 21.86% | 25.70% | -26.90% | 12.60% | 35.25% | 35.04% | -4.89% | 24.93% |
Correlation
The correlation between DHEAX and IWP is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.02 |
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Return for Risk
DHEAX vs. IWP — Risk / Return Rank
DHEAX
IWP
DHEAX vs. IWP - 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 Russell Mid-Cap Growth ETF (IWP). 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 | IWP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.30 | ||
| Sortino ratioReturn per unit of downside risk | +6.96 | ||
| Omega ratioGain probability vs. loss probability | 2.35 | 1.00 | +1.35 |
| Calmar ratioReturn relative to maximum drawdown | 9.41 | -0.12 | +9.53 |
| Martin ratioReturn relative to average drawdown | 40.56 | -0.35 | +40.91 |
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Drawdowns
DHEAX vs. IWP - Drawdown Comparison
The maximum DHEAX drawdown since its inception was -12.34%, smaller than the maximum IWP drawdown of -56.92%. Use the drawdown chart below to compare losses from any high point for DHEAX and IWP.
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Drawdown Indicators
| DHEAX | IWP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.34% | -56.92% | +44.58% |
Max Drawdown (1Y)Largest decline over 1 year | -0.50% | -14.79% | +14.29% |
Max Drawdown (3Y)Largest decline over 3 years | -0.50% | -25.20% | +24.70% |
Max Drawdown (5Y)Largest decline over 5 years | -5.06% | -38.62% | +33.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.62% | — |
Current DrawdownCurrent decline from peak | 0.00% | -6.02% | +6.02% |
Average DrawdownAverage peak-to-trough decline | -0.79% | -9.65% | +8.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 5.19% | -5.07% |
Volatility
DHEAX vs. IWP - Volatility Comparison
The current volatility for Diamond Hill Short Duration Securitized Bond Fund (DHEAX) is 0.36%, while iShares Russell Mid-Cap Growth ETF (IWP) has a volatility of 5.06%. This indicates that DHEAX experiences smaller price fluctuations and is considered to be less risky than IWP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DHEAX | IWP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 5.06% | -4.70% |
Volatility (6M)Calculated over the trailing 6-month period | 0.76% | 13.78% | -13.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.12% | 17.32% | -16.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.52% | 22.44% | -20.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.26% | 21.69% | -19.43% |
DHEAX vs. IWP - Expense Ratio Comparison
DHEAX has a 0.83% expense ratio, which is higher than IWP's 0.23% expense ratio.
Dividends
DHEAX vs. IWP - Dividend Comparison
DHEAX's dividend yield for the trailing twelve months is around 5.73%, more than IWP's 0.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHEAX Diamond Hill Short Duration Securitized Bond Fund | 5.73% | 5.27% | 5.94% | 5.25% | 3.41% | 2.31% | 2.92% | 3.76% | 3.45% | 3.20% | 0.00% | 0.00% |
IWP iShares Russell Mid-Cap Growth ETF | 0.36% | 0.37% | 0.40% | 0.54% | 0.77% | 0.30% | 0.38% | 0.59% | 1.02% | 0.78% | 1.16% | 0.98% |
Frequently Asked Questions
DHEAX and IWP have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWP has higher volatility (5.06%) compared to DHEAX (0.36%). In terms of maximum drawdown, DHEAX dropped -12.34% vs IWP's -56.92%.
DHEAX currently has the higher Sharpe Ratio (4.20 vs -0.11), 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.
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