DHY vs. AFNIX

Last updated Jun 4, 2026

DHY (Dimensional High Yield Equity Fund) and AFNIX (AAM/Bahl & Gaynor Income Growth Fund Class I) are both mutual funds - DHY is a Dividend fund managed by Dimensional Fund Advisors, while AFNIX is a Large Cap Blend Equities fund managed by AAM. At a 0.31 correlation, their price movements are largely independent. DHY charges 0.04%/yr vs 0.83%/yr for AFNIX.

Performance

DHY vs. AFNIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional High Yield Equity Fund (DHY) and AAM/Bahl & Gaynor Income Growth Fund Class I (AFNIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DHY

• 1D: 0.00%
• 1M: 0.00%
• YTD: -8.33%
• 6M: -9.88%
• 1Y: -6.23%
• 3Y*: 6.71%
• 5Y*: 1.94%
• 10Y*: 6.31%

AFNIX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DHY vs. AFNIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHY Dimensional High Yield Equity Fund	-8.33%	2.19%	18.18%	24.13%	-21.75%	16.99%	0.10%	26.18%	-16.10%	17.06%
AFNIX AAM/Bahl & Gaynor Income Growth Fund Class I	1.74%	11.36%	16.23%	6.59%	-8.77%	25.23%	6.60%	25.71%	-1.98%	19.51%

Correlation

The correlation between DHY and AFNIX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.31

The correlation between DHY and AFNIX shifts across timeframes, from 0.23 (1 year) to 0.35 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DHY vs. AFNIX — Risk / Return Rank

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

DHY

DHY Risk / Return Rank: 1
DHY Sharpe Ratio Rank: 1
DHY Sortino Ratio Rank: 1
DHY Omega Ratio Rank: 1
DHY Calmar Ratio Rank: 1
DHY Martin Ratio Rank: 1

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.

DHY vs. AFNIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional High Yield Equity Fund (DHY) and AAM/Bahl & Gaynor Income Growth Fund Class I (AFNIX). 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.

	DHY	AFNIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.52	—	—
Sortino ratio: Return per unit of downside risk	-0.66	—	—
Omega ratio: Gain probability vs. loss probability	0.92	—	—
Calmar ratio: Return relative to maximum drawdown	-0.49	—	—
Martin ratio: Return relative to average drawdown	-1.19	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DHY	AFNIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.52	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	—	—

Drawdowns

Drawdown Indicators

	DHY	AFNIX	Difference
Max Drawdown Largest peak-to-trough decline	-71.47%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-12.80%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.80%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.23%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.36%	—	—
Current Drawdown Current decline from peak	-11.52%	—	—
Average Drawdown Average peak-to-trough decline	-12.36%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	5.23%	—	—

Volatility

Volatility by Period

	DHY	AFNIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.39%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.00%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.17%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.37%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.99%	—	—

DHY vs. AFNIX - Expense Ratio Comparison

DHY has a 0.04% expense ratio, which is lower than AFNIX's 0.83% expense ratio.

Dividends

DHY vs. AFNIX - Dividend Comparison

DHY's dividend yield for the trailing twelve months is around 10.57%, less than AFNIX's 31.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFNIX AAM/Bahl & Gaynor Income Growth Fund Class I	31.18%	14.13%	6.88%	3.43%	4.61%	1.78%	1.75%	2.13%	2.04%	1.72%	1.79%	2.66%
DHY Dimensional High Yield Equity Fund	10.57%	9.30%	8.69%	9.39%	10.57%	7.61%	8.68%	9.02%	11.20%	9.40%	10.52%	12.63%

Frequently Asked Questions

Can I hold both DHY and AFNIX in my portfolio?

DHY and AFNIX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.