DHLYX vs. DHLAX
DHLYX (Diamond Hill Large Cap Fund Class Y) and DHLAX (Diamond Hill Large Cap Fund) are both Large Cap Value Equities funds from Diamond Hill. Over the past 10 years, DHLYX returned 10.13%/yr vs 10.75%/yr for DHLAX. Their 1.00 correlation means they have historically moved very closely together. DHLYX charges 0.56%/yr vs 0.96%/yr for DHLAX.
Performance
DHLYX vs. DHLAX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with DHLYX having a 5.33% return and DHLAX slightly higher at 5.56%. Over the past 10 years, DHLYX has underperformed DHLAX with an annualized return of 10.13%, while DHLAX has yielded a comparatively higher 10.75% annualized return.
DHLYX
- 1D
- -0.44%
- 1M
- 3.87%
- 6M
- 4.32%
- YTD
- 5.33%
- 1Y
- 6.29%
- 3Y*
- 9.50%
- 5Y*
- 5.73%
- 10Y*
- 10.13%
- ALL TIME*
- 11.02%
DHLAX
- 1D
- 1.29%
- 1M
- 4.29%
- 6M
- 4.58%
- YTD
- 5.56%
- 1Y
- 6.38%
- 3Y*
- 12.63%
- 5Y*
- 7.27%
- 10Y*
- 10.75%
- ALL TIME*
- 8.73%
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 |
DHLYX vs. DHLAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DHLYX Diamond Hill Large Cap Fund Class Y | 5.33% | 5.76% | 12.20% | 13.83% | -13.27% | 25.88% | 9.05% | 32.39% | -9.54% | 20.40% |
DHLAX Diamond Hill Large Cap Fund | 5.56% | 5.34% | 22.53% | 13.36% | -13.67% | 25.40% | 8.63% | 31.84% | -9.89% | 19.93% |
Correlation
The correlation between DHLYX and DHLAX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 2011 | 1.00 |
The correlation between DHLYX and DHLAX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
DHLYX vs. DHLAX — Risk / Return Rank
DHLYX
DHLAX
DHLYX vs. DHLAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Diamond Hill Large Cap Fund Class Y (DHLYX) and Diamond Hill Large Cap Fund (DHLAX). 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.
| DHLYX | DHLAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.10 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 0.73 | +0.03 |
| Martin ratioReturn relative to average drawdown | 1.94 | 1.84 | +0.10 |
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Drawdowns
DHLYX vs. DHLAX - Drawdown Comparison
The maximum DHLYX drawdown since its inception was -38.87%, smaller than the maximum DHLAX drawdown of -52.68%. Use the drawdown chart below to compare losses from any high point for DHLYX and DHLAX.
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Drawdown Indicators
| DHLYX | DHLAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.87% | -52.68% | +13.81% |
Max Drawdown (1Y)Largest decline over 1 year | -8.31% | -8.36% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -15.54% | -14.85% | -0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -23.10% | -23.36% | +0.26% |
Max Drawdown (10Y)Largest decline over 10 years | -38.87% | -38.92% | +0.05% |
Current DrawdownCurrent decline from peak | -0.44% | 0.00% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -4.50% | -7.53% | +3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 3.33% | -0.06% |
Volatility
DHLYX vs. DHLAX - Volatility Comparison
Diamond Hill Large Cap Fund Class Y (DHLYX) and Diamond Hill Large Cap Fund (DHLAX) have volatilities of 3.48% and 3.49%, 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.
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Volatility by Period
| DHLYX | DHLAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | 3.49% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 8.17% | 8.18% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.49% | 11.51% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.83% | 16.39% | -0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.98% | 18.23% | -0.25% |
DHLYX vs. DHLAX - Expense Ratio Comparison
DHLYX has a 0.56% expense ratio, which is lower than DHLAX's 0.96% expense ratio.
Dividends
DHLYX vs. DHLAX - Dividend Comparison
DHLYX's dividend yield for the trailing twelve months is around 6.17%, more than DHLAX's 5.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHLAX Diamond Hill Large Cap Fund | 5.73% | 6.05% | 19.46% | 3.07% | 6.34% | 7.28% | 3.01% | 4.50% | 4.28% | 4.53% | 6.30% | 4.79% |
DHLYX Diamond Hill Large Cap Fund Class Y | 6.17% | 6.50% | 10.75% | 3.89% | 6.75% | 7.63% | 3.57% | 4.86% | 4.74% | 4.87% | 6.65% | 5.18% |
Frequently Asked Questions
With a correlation of 1.00, DHLYX and DHLAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
DHLAX has higher volatility (3.49%) compared to DHLYX (3.48%). In terms of maximum drawdown, DHLYX dropped -38.87% vs DHLAX's -52.68%.
DHLYX currently has the higher Sharpe Ratio (0.55 vs 0.53), 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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