DHTAX vs. SPY
Compare and contrast key facts about Diamond Hill All Cap Select Fund (DHTAX) and State Street SPDR S&P 500 ETF (SPY).
DHTAX is managed by Diamond Hill. It was launched on Dec 30, 2005. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
DHTAX vs. SPY - Performance Comparison
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DHTAX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DHTAX Diamond Hill All Cap Select Fund | -2.20% | 13.28% | 12.75% | 30.19% | -17.47% | 32.89% | 14.30% | 30.43% | -12.44% | 19.93% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, DHTAX achieves a -2.20% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, DHTAX has underperformed SPY with an annualized return of 12.27%, while SPY has yielded a comparatively higher 13.98% annualized return.
DHTAX
- 1D
- 0.08%
- 1M
- -7.26%
- YTD
- -2.20%
- 6M
- 1.99%
- 1Y
- 14.75%
- 3Y*
- 15.15%
- 5Y*
- 9.16%
- 10Y*
- 12.27%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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DHTAX vs. SPY - Expense Ratio Comparison
DHTAX has a 1.16% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
DHTAX vs. SPY — Risk / Return Rank
DHTAX
SPY
DHTAX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Diamond Hill All Cap Select Fund (DHTAX) and State Street SPDR S&P 500 ETF (SPY). 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.
| DHTAX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.80 | 0.93 | -0.13 |
Sortino ratioReturn per unit of downside risk | 1.25 | 1.45 | -0.20 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.22 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.05 | 1.53 | -0.48 |
Martin ratioReturn relative to average drawdown | 4.09 | 7.30 | -3.21 |
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
| DHTAX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.80 | 0.93 | -0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.69 | -0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.78 | -0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.56 | -0.15 |
Correlation
The correlation between DHTAX and SPY is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
DHTAX vs. SPY - Dividend Comparison
DHTAX's dividend yield for the trailing twelve months is around 8.39%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHTAX Diamond Hill All Cap Select Fund | 8.39% | 8.20% | 6.66% | 0.28% | 4.08% | 13.72% | 0.28% | 1.93% | 11.56% | 0.00% | 1.27% | 3.32% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
DHTAX vs. SPY - Drawdown Comparison
The maximum DHTAX drawdown since its inception was -51.42%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for DHTAX and SPY.
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Drawdown Indicators
| DHTAX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.42% | -55.19% | +3.77% |
Max Drawdown (1Y)Largest decline over 1 year | -13.93% | -12.05% | -1.88% |
Max Drawdown (5Y)Largest decline over 5 years | -24.31% | -24.50% | +0.19% |
Max Drawdown (10Y)Largest decline over 10 years | -44.28% | -33.72% | -10.56% |
Current DrawdownCurrent decline from peak | -7.72% | -6.24% | -1.48% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -9.09% | +1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 2.52% | +1.05% |
Volatility
DHTAX vs. SPY - Volatility Comparison
The current volatility for Diamond Hill All Cap Select Fund (DHTAX) is 4.12%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that DHTAX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DHTAX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.12% | 5.31% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 10.71% | 9.47% | +1.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.14% | 19.05% | +2.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.99% | 17.06% | +3.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.16% | 17.92% | +4.24% |