DHLAX vs. DHSCX
DHLAX (Diamond Hill Large Cap Fund) and DHSCX (Diamond Hill Small Cap Fund) are both mutual funds - DHLAX is a Large Cap Value Equities fund managed by Diamond Hill, while DHSCX is a Small Cap Value Equities fund managed by Diamond Hill. Over the past 10 years, DHLAX returned 10.84%/yr vs 10.61%/yr for DHSCX. Their correlation of 0.86 means they have usually moved in the same direction. DHLAX charges 0.96%/yr vs 1.26%/yr for DHSCX.
Performance
DHLAX vs. DHSCX - Performance Comparison
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Returns By Period
In the year-to-date period, DHLAX achieves a 7.46% return, which is significantly lower than DHSCX's 29.35% return. Both investments have delivered pretty close results over the past 10 years, with DHLAX having a 10.84% annualized return and DHSCX not far behind at 10.61%.
DHLAX
- 1D
- 1.35%
- 1M
- 4.02%
- 6M
- 5.36%
- YTD
- 7.46%
- 1Y
- 10.80%
- 3Y*
- 13.70%
- 5Y*
- 7.91%
- 10Y*
- 10.84%
- ALL TIME*
- 8.80%
DHSCX
- 1D
- 1.39%
- 1M
- 0.87%
- 6M
- 18.50%
- YTD
- 29.35%
- 1Y
- 41.79%
- 3Y*
- 20.76%
- 5Y*
- 13.92%
- 10Y*
- 10.61%
- ALL TIME*
- 10.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
DHLAX vs. DHSCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DHLAX Diamond Hill Large Cap Fund | 7.46% | 5.34% | 22.53% | 13.36% | -13.67% | 25.40% | 8.63% | 31.84% | -9.89% | 19.93% |
DHSCX Diamond Hill Small Cap Fund | 29.35% | 11.48% | 12.75% | 23.99% | -15.11% | 32.30% | -0.54% | 21.45% | -15.23% | 10.56% |
Correlation
The correlation between DHLAX and DHSCX is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.82 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2001 | 0.86 |
Over the past year, the correlation between DHLAX and DHSCX has dropped to 0.65 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.
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Return for Risk
DHLAX vs. DHSCX — Risk / Return Rank
DHLAX
DHSCX
DHLAX vs. DHSCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Diamond Hill Large Cap Fund (DHLAX) and Diamond Hill Small Cap Fund (DHSCX). 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.
| DHLAX | DHSCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.39 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 4.02 | -2.65 |
| Martin ratioReturn relative to average drawdown | 3.48 | 13.17 | -9.70 |
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Drawdowns
DHLAX vs. DHSCX - Drawdown Comparison
The maximum DHLAX drawdown since its inception was -52.68%, roughly equal to the maximum DHSCX drawdown of -53.15%. Use the drawdown chart below to compare losses from any high point for DHLAX and DHSCX.
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Drawdown Indicators
| DHLAX | DHSCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.68% | -53.15% | +0.47% |
Max Drawdown (1Y)Largest decline over 1 year | -8.36% | -11.02% | +2.66% |
Max Drawdown (3Y)Largest decline over 3 years | -14.85% | -28.41% | +13.56% |
Max Drawdown (5Y)Largest decline over 5 years | -23.36% | -28.41% | +5.05% |
Max Drawdown (10Y)Largest decline over 10 years | -38.92% | -46.19% | +7.27% |
Current DrawdownCurrent decline from peak | 0.00% | -0.29% | +0.29% |
Average DrawdownAverage peak-to-trough decline | -7.52% | -8.27% | +0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 3.36% | -0.06% |
Volatility
DHLAX vs. DHSCX - Volatility Comparison
The current volatility for Diamond Hill Large Cap Fund (DHLAX) is 3.41%, while Diamond Hill Small Cap Fund (DHSCX) has a volatility of 5.81%. This indicates that DHLAX experiences smaller price fluctuations and is considered to be less risky than DHSCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DHLAX | DHSCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 5.81% | -2.40% |
Volatility (6M)Calculated over the trailing 6-month period | 8.35% | 14.10% | -5.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.52% | 19.79% | -8.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.40% | 21.50% | -5.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.24% | 22.25% | -4.01% |
DHLAX vs. DHSCX - Expense Ratio Comparison
DHLAX has a 0.96% expense ratio, which is lower than DHSCX's 1.26% expense ratio.
Dividends
DHLAX vs. DHSCX - Dividend Comparison
DHLAX's dividend yield for the trailing twelve months is around 5.63%, more than DHSCX's 4.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHLAX Diamond Hill Large Cap Fund | 5.63% | 6.05% | 19.46% | 3.07% | 6.34% | 7.28% | 3.01% | 4.50% | 4.28% | 4.53% | 6.30% | 4.79% |
DHSCX Diamond Hill Small Cap Fund | 4.49% | 5.80% | 16.10% | 30.73% | 18.17% | 17.43% | 0.32% | 6.94% | 10.29% | 6.68% | 2.50% | 1.63% |
Frequently Asked Questions
DHLAX and DHSCX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DHSCX has higher volatility (5.81%) compared to DHLAX (3.41%). In terms of maximum drawdown, DHLAX dropped -52.68% vs DHSCX's -53.15%.
DHSCX currently has the higher Sharpe Ratio (2.25 vs 1.00), 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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