DHLAX vs. IJR
DHLAX (Diamond Hill Large Cap Fund) and IJR (iShares Core S&P Small-Cap ETF) are both funds - DHLAX is a Large Cap Value Equities fund managed by Diamond Hill, while IJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index. Over the past 10 years, DHLAX returned 10.50%/yr vs 10.66%/yr for IJR. Their correlation of 0.84 suggests significant overlap in exposure. DHLAX charges 0.96%/yr vs 0.06%/yr for IJR.
Performance
DHLAX vs. IJR - Performance Comparison
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Returns By Period
In the year-to-date period, DHLAX achieves a 0.22% return, which is significantly lower than IJR's 15.38% return. Both investments have delivered pretty close results over the past 10 years, with DHLAX having a 10.50% annualized return and IJR not far ahead at 10.66%.
DHLAX
- 1D
- -0.43%
- 1M
- -0.53%
- YTD
- 0.22%
- 6M
- 1.63%
- 1Y
- 3.08%
- 3Y*
- 13.22%
- 5Y*
- 6.27%
- 10Y*
- 10.50%
IJR
- 1D
- -0.89%
- 1M
- 1.67%
- YTD
- 15.38%
- 6M
- 14.25%
- 1Y
- 31.54%
- 3Y*
- 14.39%
- 5Y*
- 5.64%
- 10Y*
- 10.66%
DHLAX vs. IJR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DHLAX Diamond Hill Large Cap Fund | 0.22% | 5.34% | 22.53% | 13.36% | -13.67% | 25.40% | 8.63% | 31.84% | -9.89% | 19.93% |
IJR iShares Core S&P Small-Cap ETF | 15.38% | 5.89% | 8.63% | 16.06% | -16.20% | 26.58% | 11.28% | 22.82% | -8.51% | 13.15% |
Correlation
The correlation between DHLAX and IJR is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2001 | 0.84 |
The correlation between DHLAX and IJR shifts across timeframes, from 0.71 (1 year) to 0.84 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DHLAX vs. IJR — Risk / Return Rank
DHLAX
IJR
DHLAX vs. IJR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Diamond Hill Large Cap Fund (DHLAX) and iShares Core S&P Small-Cap ETF (IJR). 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.
| DHLAX | IJR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.31 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | 3.65 | -3.13 |
| Martin ratioReturn relative to average drawdown | 1.32 | 12.14 | -10.82 |
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
| DHLAX | IJR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.38 | 1.81 | -1.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.26 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.47 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.43 | +0.02 |
Drawdowns
DHLAX vs. IJR - Drawdown Comparison
The maximum DHLAX drawdown since its inception was -52.68%, smaller than the maximum IJR drawdown of -58.15%. Use the drawdown chart below to compare losses from any high point for DHLAX and IJR.
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Drawdown Indicators
| DHLAX | IJR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.68% | -58.15% | +5.47% |
Max Drawdown (1Y)Largest decline over 1 year | -8.36% | -8.68% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -14.85% | -28.02% | +13.17% |
Max Drawdown (5Y)Largest decline over 5 years | -23.36% | -28.02% | +4.66% |
Max Drawdown (10Y)Largest decline over 10 years | -38.92% | -44.36% | +5.44% |
Current DrawdownCurrent decline from peak | -4.15% | -0.91% | -3.24% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -9.28% | +1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 2.60% | +0.64% |
Volatility
DHLAX vs. IJR - Volatility Comparison
The current volatility for Diamond Hill Large Cap Fund (DHLAX) is 2.74%, while iShares Core S&P Small-Cap ETF (IJR) has a volatility of 4.45%. This indicates that DHLAX experiences smaller price fluctuations and is considered to be less risky than IJR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DHLAX | IJR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.74% | 4.45% | -1.71% |
Volatility (6M)Calculated over the trailing 6-month period | 8.04% | 11.65% | -3.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.30% | 17.54% | -6.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.42% | 21.41% | -4.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.32% | 22.91% | -4.59% |
DHLAX vs. IJR - Expense Ratio Comparison
DHLAX has a 0.96% expense ratio, which is higher than IJR's 0.06% expense ratio.
Dividends
DHLAX vs. IJR - Dividend Comparison
DHLAX's dividend yield for the trailing twelve months is around 6.04%, more than IJR's 1.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHLAX Diamond Hill Large Cap Fund | 6.04% | 6.05% | 19.46% | 3.07% | 6.34% | 7.28% | 3.01% | 4.50% | 4.28% | 4.53% | 6.30% | 4.79% |
IJR iShares Core S&P Small-Cap ETF | 1.15% | 1.44% | 2.05% | 1.31% | 1.41% | 1.53% | 1.11% | 1.44% | 1.58% | 1.20% | 1.22% | 1.48% |
Frequently Asked Questions
DHLAX and IJR have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IJR has higher volatility (4.45%) compared to DHLAX (2.74%). In terms of maximum drawdown, DHLAX dropped -52.68% vs IJR's -58.15%.
IJR currently has the higher Sharpe Ratio (1.81 vs 0.38), 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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