DHEIX vs. MWLDX

Last updated Jun 4, 2026

DHEIX (Diamond Hill Short Duration Securitized Bond Fund Class I) and MWLDX (Metropolitan West Low Duration Bond Fund) are both Short-Term Bond funds. Over the past 5 years, DHEIX returned 4.56%/yr vs 1.68%/yr for MWLDX. A 0.58 correlation means they provide meaningful diversification when combined. DHEIX charges 0.53%/yr vs 0.62%/yr for MWLDX.

Performance

DHEIX vs. MWLDX - Performance Comparison

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

Returns By Period

In the year-to-date period, DHEIX achieves a 1.78% return, which is significantly higher than MWLDX's 0.54% return.

DHEIX

• 1D: 0.10%
• 1M: 0.46%
• YTD: 1.78%
• 6M: 2.09%
• 1Y: 5.40%
• 3Y*: 7.74%
• 5Y*: 4.56%
• 10Y*: —

MWLDX

• 1D: 0.00%
• 1M: 0.19%
• YTD: 0.54%
• 6M: 0.93%
• 1Y: 4.09%
• 3Y*: 4.33%
• 5Y*: 1.68%
• 10Y*: 1.91%

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

DHEIX vs. MWLDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHEIX Diamond Hill Short Duration Securitized Bond Fund Class I	1.78%	6.06%	9.33%	8.91%	-3.38%	2.74%	3.09%	4.85%	3.18%	4.23%
MWLDX Metropolitan West Low Duration Bond Fund	0.54%	5.72%	3.79%	4.82%	-5.70%	-0.33%	3.27%	4.24%	1.59%	1.26%

Correlation

The correlation between DHEIX and MWLDX is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.58

The correlation between DHEIX and MWLDX shifts across timeframes, from 0.54 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DHEIX vs. MWLDX — Risk / Return Rank

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

DHEIX

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

MWLDX

MWLDX Risk / Return Rank: 59
MWLDX Sharpe Ratio Rank: 43
MWLDX Sortino Ratio Rank: 68
MWLDX Omega Ratio Rank: 62
MWLDX Calmar Ratio Rank: 63
MWLDX Martin Ratio Rank: 57

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.

DHEIX vs. MWLDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX) and Metropolitan West Low Duration Bond Fund (MWLDX). 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.

	DHEIX	MWLDX	Difference
Sharpe ratio: Return per unit of total volatility	5.15	1.91	+3.24
Sortino ratio: Return per unit of downside risk	9.46	3.43	+6.03
Omega ratio: Gain probability vs. loss probability	2.90	1.44	+1.46
Calmar ratio: Return relative to maximum drawdown	10.86	3.08	+7.78
Martin ratio: Return relative to average drawdown	48.43	11.38	+37.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DHEIX vs. MWLDX - Sharpe Ratio Comparison

The current DHEIX Sharpe Ratio is 5.15, which is higher than the MWLDX Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of DHEIX and MWLDX, 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

	DHEIX	MWLDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.15	1.91	+3.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.99	0.59	+2.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.89	1.27	+0.62

Drawdowns

DHEIX vs. MWLDX - Drawdown Comparison

The maximum DHEIX drawdown since its inception was -12.33%, smaller than the maximum MWLDX drawdown of -19.48%. Use the drawdown chart below to compare losses from any high point for DHEIX and MWLDX.

Drawdown Indicators

	DHEIX	MWLDX	Difference
Max Drawdown Largest peak-to-trough decline	-12.33%	-19.48%	+7.15%
Max Drawdown (1Y) Largest decline over 1 year	-0.50%	-1.29%	+0.79%
Max Drawdown (3Y) Largest decline over 3 years	-0.50%	-1.75%	+1.25%
Max Drawdown (5Y) Largest decline over 5 years	-4.87%	-8.36%	+3.49%
Max Drawdown (10Y) Largest decline over 10 years	—	-8.36%	—
Current Drawdown Current decline from peak	0.00%	-0.31%	+0.31%
Average Drawdown Average peak-to-trough decline	-0.76%	-1.26%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.11%	0.35%	-0.24%

Volatility

DHEIX vs. MWLDX - Volatility Comparison

The current volatility for Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX) is 0.32%, while Metropolitan West Low Duration Bond Fund (MWLDX) has a volatility of 0.63%. This indicates that DHEIX experiences smaller price fluctuations and is considered to be less risky than MWLDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DHEIX	MWLDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.32%	0.63%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	0.74%	1.51%	-0.77%
Volatility (1Y) Calculated over the trailing 1-year period	1.05%	2.08%	-1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.53%	2.86%	-1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.27%	2.26%	+0.01%

DHEIX vs. MWLDX - Expense Ratio Comparison

DHEIX has a 0.53% expense ratio, which is lower than MWLDX's 0.62% expense ratio.

Dividends

DHEIX vs. MWLDX - Dividend Comparison

DHEIX's dividend yield for the trailing twelve months is around 5.91%, more than MWLDX's 3.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHEIX Diamond Hill Short Duration Securitized Bond Fund Class I	5.91%	5.51%	6.21%	5.52%	3.72%	2.62%	3.22%	4.05%	3.74%	3.45%	0.00%	0.00%
MWLDX Metropolitan West Low Duration Bond Fund	3.79%	3.75%	3.71%	3.22%	1.56%	0.69%	1.39%	2.41%	2.50%	1.38%	1.52%	1.12%

Frequently Asked Questions

Can I hold both DHEIX and MWLDX in my portfolio?

DHEIX and MWLDX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DHEIX or MWLDX?

MWLDX has higher volatility (0.63%) compared to DHEIX (0.32%). In terms of maximum drawdown, DHEIX dropped -12.33% vs MWLDX's -19.48%.

Which has better risk-adjusted returns?

DHEIX currently has the higher Sharpe Ratio (5.15 vs 1.91), 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.