DHF vs. DMO
Compare and contrast key facts about Dimensional High Yield Fund (DHF) and Dimensional Multi-Asset Fund (DMO).
DHF is managed by Dimensional Fund Advisors. It was launched on Jan 1, 2013. DMO is managed by Dimensional Fund Advisors. It was launched on Dec 11, 2009.
Performance
DHF vs. DMO - Performance Comparison
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DHF vs. DMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DHF Dimensional High Yield Fund | -1.83% | 5.67% | 21.12% | 15.00% | -22.70% | 10.35% | 6.46% | 24.68% | -11.11% | 8.43% |
DMO Dimensional Multi-Asset Fund | 0.42% | 6.95% | 20.24% | 16.79% | -21.64% | 17.12% | -22.32% | 9.10% | -2.04% | 23.46% |
Returns By Period
In the year-to-date period, DHF achieves a -1.83% return, which is significantly lower than DMO's 0.42% return. Over the past 10 years, DHF has outperformed DMO with an annualized return of 6.31%, while DMO has yielded a comparatively lower 4.48% annualized return.
DHF
- 1D
- -1.64%
- 1M
- -2.11%
- YTD
- -1.83%
- 6M
- -3.74%
- 1Y
- 3.56%
- 3Y*
- 12.38%
- 5Y*
- 3.23%
- 10Y*
- 6.31%
DMO
- 1D
- 0.00%
- 1M
- -3.98%
- YTD
- 0.42%
- 6M
- -2.43%
- 1Y
- 3.91%
- 3Y*
- 14.79%
- 5Y*
- 5.49%
- 10Y*
- 4.48%
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DHF vs. DMO - Expense Ratio Comparison
Both DHF and DMO have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
DHF vs. DMO — Risk / Return Rank
DHF
DMO
DHF vs. DMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional High Yield Fund (DHF) and Dimensional Multi-Asset Fund (DMO). 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.
| DHF | DMO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.24 | 0.32 | -0.08 |
Sortino ratioReturn per unit of downside risk | 0.42 | 0.51 | -0.09 |
Omega ratioGain probability vs. loss probability | 1.06 | 1.08 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.24 | 0.45 | -0.21 |
Martin ratioReturn relative to average drawdown | 0.78 | 1.15 | -0.37 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DHF | DMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.24 | 0.32 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.43 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.22 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.48 | -0.34 |
Correlation
The correlation between DHF and DMO is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
DHF vs. DMO - Dividend Comparison
DHF's dividend yield for the trailing twelve months is around 8.75%, less than DMO's 14.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHF Dimensional High Yield Fund | 8.75% | 8.47% | 8.14% | 7.86% | 10.12% | 8.24% | 8.60% | 8.52% | 10.41% | 8.98% | 9.76% | 11.30% |
DMO Dimensional Multi-Asset Fund | 14.14% | 14.01% | 12.92% | 11.46% | 11.51% | 8.88% | 10.95% | 9.63% | 18.93% | 13.30% | 13.19% | 14.09% |
Drawdowns
DHF vs. DMO - Drawdown Comparison
The maximum DHF drawdown since its inception was -71.32%, which is greater than DMO's maximum drawdown of -49.16%. Use the drawdown chart below to compare losses from any high point for DHF and DMO.
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Drawdown Indicators
| DHF | DMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.32% | -49.16% | -22.16% |
Max Drawdown (1Y)Largest decline over 1 year | -9.84% | -8.37% | -1.47% |
Max Drawdown (5Y)Largest decline over 5 years | -37.82% | -29.04% | -8.78% |
Max Drawdown (10Y)Largest decline over 10 years | -42.94% | -49.16% | +6.22% |
Current DrawdownCurrent decline from peak | -5.92% | -5.65% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -23.14% | -9.68% | -13.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 3.25% | -0.24% |
Volatility
DHF vs. DMO - Volatility Comparison
Dimensional High Yield Fund (DHF) has a higher volatility of 6.39% compared to Dimensional Multi-Asset Fund (DMO) at 5.77%. This indicates that DHF's price experiences larger fluctuations and is considered to be riskier than DMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DHF | DMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.39% | 5.77% | +0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 9.58% | 8.66% | +0.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.72% | 12.19% | +2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.73% | 12.88% | +2.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.76% | 19.97% | -2.21% |