DHLYX vs. DHSCX

Last updated Jul 30, 2026

DHLYX (Diamond Hill Large Cap Fund Class Y) and DHSCX (Diamond Hill Small Cap Fund) are both mutual funds - DHLYX is a Large Cap Value Equities fund actively managed by Diamond Hill, while DHSCX is a Small Cap Value Equities fund managed by Diamond Hill. Over the past 10 years, DHLYX returned 10.13%/yr vs 10.72%/yr for DHSCX. Their correlation of 0.85 means they have usually moved in the same direction. DHLYX charges 0.56%/yr vs 1.26%/yr for DHSCX.

Performance

DHLYX vs. DHSCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Diamond Hill Large Cap Fund Class Y (DHLYX) and Diamond Hill Small Cap Fund (DHSCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DHLYX achieves a 5.33% return, which is significantly lower than DHSCX's 29.72% return. Over the past 10 years, DHLYX has underperformed DHSCX with an annualized return of 10.13%, while DHSCX has yielded a comparatively higher 10.72% 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%

DHSCX

• 1D: 0.74%
• 1M: 1.58%
• 6M: 22.69%
• YTD: 29.72%
• 1Y: 39.46%
• 3Y*: 20.10%
• 5Y*: 13.58%
• 10Y*: 10.72%
• ALL TIME*: 10.24%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DHLYX Diamond Hill Large Cap Fund Class Y	$0.00	$0.00	$0.00
DHSCX Diamond Hill Small Cap Fund	$0.00	$0.00	$0.00

DHLYX vs. DHSCX - 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%
DHSCX Diamond Hill Small Cap Fund	29.72%	11.48%	12.75%	23.99%	-15.11%	32.30%	-0.54%	21.45%	-15.23%	10.56%

Correlation

The correlation between DHLYX and DHSCX is 0.66, 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.	0.66
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (10Y) Provides a long-term view across more market conditions.	0.84
Correlation (All Time) Calculated using the full available price history since Dec 30, 2011	0.85

The correlation between DHLYX and DHSCX shifts across timeframes, from 0.66 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DHLYX vs. DHSCX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DHLYX

DHLYX Risk / Return Rank: 13
DHLYX Sharpe Ratio Rank: 13
DHLYX Sortino Ratio Rank: 13
DHLYX Omega Ratio Rank: 12
DHLYX Calmar Ratio Rank: 14
DHLYX Martin Ratio Rank: 13

DHSCX

DHSCX Risk / Return Rank: 83
DHSCX Sharpe Ratio Rank: 81
DHSCX Sortino Ratio Rank: 82
DHSCX Omega Ratio Rank: 76
DHSCX Calmar Ratio Rank: 91
DHSCX Martin Ratio Rank: 87

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DHLYX vs. DHSCX - 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 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.

	DHLYX	DHSCX	Difference
Sharpe ratio: Return per unit of total volatility	0.55	1.94	-1.39
Sortino ratio: Return per unit of downside risk	0.88	2.89	-2.01
Omega ratio: Gain probability vs. loss probability	1.10	1.34	-0.24
Calmar ratio: Return relative to maximum drawdown	0.76	3.49	-2.73
Martin ratio: Return relative to average drawdown	1.94	11.34	-9.40

DHLYX vs. DHSCX - Sharpe Ratio Comparison

The current DHLYX Sharpe Ratio is 0.55, which is lower than the DHSCX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of DHLYX and DHSCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DHLYX vs. DHSCX - Drawdown Comparison

The maximum DHLYX drawdown since its inception was -38.87%, smaller than the maximum DHSCX drawdown of -53.15%. Use the drawdown chart below to compare losses from any high point for DHLYX and DHSCX.

Drawdown Indicators

	DHLYX	DHSCX	Difference
Max Drawdown Largest peak-to-trough decline	-38.87%	-53.15%	+14.28%
Max Drawdown (1Y) Largest decline over 1 year	-8.31%	-11.02%	+2.71%
Max Drawdown (3Y) Largest decline over 3 years	-15.54%	-28.41%	+12.87%
Max Drawdown (5Y) Largest decline over 5 years	-23.10%	-28.41%	+5.31%
Max Drawdown (10Y) Largest decline over 10 years	-38.87%	-46.19%	+7.32%
Current Drawdown Current decline from peak	-0.44%	0.00%	-0.44%
Average Drawdown Average peak-to-trough decline	-4.50%	-8.27%	+3.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	3.41%	-0.14%

Volatility

DHLYX vs. DHSCX - Volatility Comparison

The current volatility for Diamond Hill Large Cap Fund Class Y (DHLYX) is 3.48%, while Diamond Hill Small Cap Fund (DHSCX) has a volatility of 5.50%. This indicates that DHLYX 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.

Volatility by Period

	DHLYX	DHSCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	5.50%	-2.02%
Volatility (6M) Calculated over the trailing 6-month period	8.17%	14.10%	-5.93%
Volatility (1Y) Calculated over the trailing 1-year period	11.49%	19.79%	-8.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.83%	21.48%	-5.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.98%	22.24%	-4.26%

DHLYX vs. DHSCX - Expense Ratio Comparison

DHLYX has a 0.56% expense ratio, which is lower than DHSCX's 1.26% expense ratio.

Dividends

DHLYX vs. DHSCX - Dividend Comparison

DHLYX's dividend yield for the trailing twelve months is around 6.17%, more than DHSCX's 4.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
DHSCX Diamond Hill Small Cap Fund	4.47%	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

Can I hold both DHLYX and DHSCX in my portfolio?

DHLYX and DHSCX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DHLYX or DHSCX?

DHSCX has higher volatility (5.50%) compared to DHLYX (3.48%). In terms of maximum drawdown, DHLYX dropped -38.87% vs DHSCX's -53.15%.

Which has better risk-adjusted returns?

DHSCX currently has the higher Sharpe Ratio (1.94 vs 0.55), 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.