DHLRX vs. VVIAX

Last updated Jun 5, 2026

DHLRX (Diamond Hill Large Cap Fund Class I) and VVIAX (Vanguard Value Index Fund Admiral Shares) are both Large Cap Value Equities funds. DHLRX is actively managed, while VVIAX is passively managed. Over the past 10 years, DHLRX returned 9.75%/yr vs 12.46%/yr for VVIAX. Their correlation of 0.94 suggests significant overlap in exposure. DHLRX charges 0.67%/yr vs 0.05%/yr for VVIAX.

Performance

DHLRX vs. VVIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Diamond Hill Large Cap Fund Class I (DHLRX) and Vanguard Value Index Fund Admiral Shares (VVIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DHLRX achieves a -0.22% return, which is significantly lower than VVIAX's 12.21% return. Over the past 10 years, DHLRX has underperformed VVIAX with an annualized return of 9.75%, while VVIAX has yielded a comparatively higher 12.46% annualized return.

DHLRX

• 1D: -0.53%
• 1M: -1.11%
• YTD: -0.22%
• 6M: 1.17%
• 1Y: 3.01%
• 3Y*: 9.92%
• 5Y*: 4.47%
• 10Y*: 9.75%

VVIAX

• 1D: -0.02%
• 1M: 3.21%
• YTD: 12.21%
• 6M: 13.06%
• 1Y: 26.79%
• 3Y*: 18.23%
• 5Y*: 11.21%
• 10Y*: 12.46%

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

DHLRX vs. VVIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHLRX Diamond Hill Large Cap Fund Class I	-0.22%	5.67%	12.05%	13.71%	-13.38%	25.74%	8.95%	32.22%	-9.65%	20.29%
VVIAX Vanguard Value Index Fund Admiral Shares	12.21%	15.27%	16.00%	9.22%	-2.07%	26.51%	2.29%	25.81%	-5.45%	17.13%

Correlation

The correlation between DHLRX and VVIAX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Feb 1, 2005	0.94

The correlation between DHLRX and VVIAX shifts across timeframes, from 0.82 (1 year) to 0.94 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DHLRX vs. VVIAX — Risk / Return Rank

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

DHLRX

DHLRX Risk / Return Rank: 5
DHLRX Sharpe Ratio Rank: 4
DHLRX Sortino Ratio Rank: 4
DHLRX Omega Ratio Rank: 4
DHLRX Calmar Ratio Rank: 5
DHLRX Martin Ratio Rank: 5

VVIAX

VVIAX Risk / Return Rank: 79
VVIAX Sharpe Ratio Rank: 79
VVIAX Sortino Ratio Rank: 77
VVIAX Omega Ratio Rank: 69
VVIAX Calmar Ratio Rank: 86
VVIAX Martin Ratio Rank: 83

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.

DHLRX vs. VVIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Diamond Hill Large Cap Fund Class I (DHLRX) and Vanguard Value Index Fund Admiral Shares (VVIAX). 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.

	DHLRX	VVIAX	Difference
Sharpe ratio: Return per unit of total volatility	0.25	2.61	-2.36
Sortino ratio: Return per unit of downside risk	0.44	3.73	-3.29
Omega ratio: Gain probability vs. loss probability	1.05	1.47	-0.42
Calmar ratio: Return relative to maximum drawdown	0.34	4.13	-3.79
Martin ratio: Return relative to average drawdown	0.87	15.57	-14.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DHLRX vs. VVIAX - Sharpe Ratio Comparison

The current DHLRX Sharpe Ratio is 0.25, which is lower than the VVIAX Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of DHLRX and VVIAX, 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

	DHLRX	VVIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.25	2.61	-2.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.81	-0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.75	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.42	+0.04

Drawdowns

DHLRX vs. VVIAX - Drawdown Comparison

The maximum DHLRX drawdown since its inception was -52.38%, smaller than the maximum VVIAX drawdown of -59.32%. Use the drawdown chart below to compare losses from any high point for DHLRX and VVIAX.

Drawdown Indicators

	DHLRX	VVIAX	Difference
Max Drawdown Largest peak-to-trough decline	-52.38%	-59.32%	+6.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-6.36%	-1.98%
Max Drawdown (3Y) Largest decline over 3 years	-15.56%	-14.39%	-1.17%
Max Drawdown (5Y) Largest decline over 5 years	-23.17%	-17.14%	-6.03%
Max Drawdown (10Y) Largest decline over 10 years	-38.88%	-36.80%	-2.08%
Current Drawdown Current decline from peak	-4.59%	-0.02%	-4.57%
Average Drawdown Average peak-to-trough decline	-6.89%	-9.61%	+2.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	1.69%	+1.54%

Volatility

DHLRX vs. VVIAX - Volatility Comparison

Diamond Hill Large Cap Fund Class I (DHLRX) and Vanguard Value Index Fund Admiral Shares (VVIAX) have volatilities of 2.65% and 2.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DHLRX	VVIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.65%	2.57%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	8.04%	7.59%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	11.30%	10.09%	+1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.87%	13.91%	+1.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.07%	16.74%	+1.33%

DHLRX vs. VVIAX - Expense Ratio Comparison

DHLRX has a 0.67% expense ratio, which is higher than VVIAX's 0.05% expense ratio.

Dividends

DHLRX vs. VVIAX - Dividend Comparison

DHLRX's dividend yield for the trailing twelve months is around 6.36%, more than VVIAX's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHLRX Diamond Hill Large Cap Fund Class I	6.36%	6.34%	10.64%	3.77%	6.60%	7.53%	3.47%	4.75%	4.59%	4.80%	6.54%	5.06%
VVIAX Vanguard Value Index Fund Admiral Shares	1.85%	2.04%	2.30%	2.45%	2.51%	2.14%	2.55%	2.49%	2.72%	2.29%	2.45%	2.60%

Frequently Asked Questions

Can I hold both DHLRX and VVIAX in my portfolio?

DHLRX and VVIAX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DHLRX or VVIAX?

DHLRX has higher volatility (2.65%) compared to VVIAX (2.57%). In terms of maximum drawdown, DHLRX dropped -52.38% vs VVIAX's -59.32%.

Which has better risk-adjusted returns?

VVIAX currently has the higher Sharpe Ratio (2.61 vs 0.25), 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.