DHLX vs. KWIN

Last updated Jul 18, 2026

DHLX (Diamond Hill Large Cap Concentrated ETF) and KWIN (KraneShares Wahed Alternative Income Index ETF) are both Large Cap Value Equities funds - DHLX tracks the Actively Managed while KWIN tracks the Wahed Alternative Income Index. Both are passively managed. At a 0.18 correlation, their price movements are largely independent. DHLX charges 0.55%/yr vs 0.51%/yr for KWIN.

Performance

DHLX vs. KWIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Diamond Hill Large Cap Concentrated ETF (DHLX) and KraneShares Wahed Alternative Income Index ETF (KWIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DHLX achieves a 2.23% return, which is significantly higher than KWIN's 1.68% return.

DHLX

• 1D: -0.63%
• 1M: 4.43%
• 6M: 2.02%
• YTD: 2.23%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KWIN

• 1D: 0.01%
• 1M: 0.21%
• 6M: 1.33%
• YTD: 1.68%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DHLX vs. KWIN - Yearly Performance Comparison

	2026 (YTD)	2025
DHLX Diamond Hill Large Cap Concentrated ETF	2.23%	3.89%
KWIN KraneShares Wahed Alternative Income Index ETF	1.68%	0.61%

Correlation

The correlation between DHLX and KWIN is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025	0.18

Return for Risk

DHLX vs. KWIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Diamond Hill Large Cap Concentrated ETF (DHLX) and KraneShares Wahed Alternative Income Index ETF (KWIN). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

DHLX vs. KWIN - Drawdown Comparison

The maximum DHLX drawdown since its inception was -8.40%, which is greater than KWIN's maximum drawdown of -1.58%. Use the drawdown chart below to compare losses from any high point for DHLX and KWIN.

Drawdown Indicators

	DHLX	KWIN	Difference
Max Drawdown Largest peak-to-trough decline	-8.40%	-1.58%	-6.82%
Current Drawdown Current decline from peak	-1.77%	-1.36%	-0.41%
Average Drawdown Average peak-to-trough decline	-2.65%	-0.28%	-2.37%

Volatility

Volatility by Period

	DHLX	KWIN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	11.68%	4.13%	+7.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.68%	4.13%	+7.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.68%	4.13%	+7.55%

DHLX vs. KWIN - Expense Ratio Comparison

DHLX has a 0.55% expense ratio, which is higher than KWIN's 0.51% expense ratio.

Dividends

DHLX vs. KWIN - Dividend Comparison

DHLX's dividend yield for the trailing twelve months is around 0.65%, while KWIN has not paid dividends to shareholders.

Position	TTM	2025
DHLX Diamond Hill Large Cap Concentrated ETF	0.65%	0.15%
KWIN KraneShares Wahed Alternative Income Index ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both DHLX and KWIN in my portfolio?

DHLX and KWIN have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DHLX or KWIN?

On fees, KWIN is cheaper at 0.51% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DHLX or KWIN?

KWIN is cheaper with a 0.51% expense ratio, compared with 0.55% for DHLX.

Which ETF pays a higher dividend yield, DHLX or KWIN?

DHLX has the higher dividend yield at 0.65%, compared with 0.00% for KWIN.

What is the main difference between DHLX and KWIN?

DHLX tracks Actively Managed, while KWIN tracks Wahed Alternative Income Index. They also come from different issuers: Diamond Hill and KraneShares. Their fees differ too: 0.55% for DHLX and 0.51% for KWIN.