DHY vs. AVLV
DHY (Dimensional High Yield Equity Fund) and AVLV (Avantis U.S. Large Cap Value ETF) are both funds - DHY is a Dividend fund managed by Dimensional Fund Advisors, while AVLV is a Large Cap Value Equities fund actively managed by Avantis. Over the past 3 years, DHY returned 5.97%/yr vs 22.82%/yr for AVLV. At a 0.36 correlation, their price movements are largely independent. DHY charges 0.04%/yr vs 0.15%/yr for AVLV.
Performance
DHY vs. AVLV - Performance Comparison
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Returns By Period
In the year-to-date period, DHY achieves a -8.56% return, which is significantly lower than AVLV's 21.54% return.
DHY
- 1D
- 0.00%
- 1M
- -0.82%
- YTD
- -8.56%
- 6M
- -8.56%
- 1Y
- -8.92%
- 3Y*
- 5.97%
- 5Y*
- 1.92%
- 10Y*
- 6.19%
AVLV
- 1D
- 0.84%
- 1M
- 1.71%
- YTD
- 21.54%
- 6M
- 20.05%
- 1Y
- 38.50%
- 3Y*
- 22.82%
- 5Y*
- —
- 10Y*
- —
DHY vs. AVLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DHY Dimensional High Yield Equity Fund | -8.56% | 2.19% | 18.18% | 24.13% | -21.75% | -0.13% |
AVLV Avantis U.S. Large Cap Value ETF | 21.54% | 15.12% | 17.49% | 17.43% | -5.53% | 6.27% |
Correlation
The correlation between DHY and AVLV is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021 | 0.36 |
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Return for Risk
DHY vs. AVLV — Risk / Return Rank
DHY
AVLV
DHY vs. AVLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional High Yield Equity Fund (DHY) and Avantis U.S. Large Cap Value ETF (AVLV). 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.
| DHY | AVLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.81 | ||
| Sortino ratioReturn per unit of downside risk | -5.20 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.55 | -0.67 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | 6.05 | -6.74 |
| Martin ratioReturn relative to average drawdown | -1.49 | 23.94 | -25.43 |
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Drawdowns
DHY vs. AVLV - Drawdown Comparison
The maximum DHY drawdown since its inception was -71.47%, which is greater than AVLV's maximum drawdown of -19.50%. Use the drawdown chart below to compare losses from any high point for DHY and AVLV.
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Drawdown Indicators
| DHY | AVLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.47% | -19.50% | -51.97% |
Max Drawdown (1Y)Largest decline over 1 year | -13.03% | -6.39% | -6.64% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -19.50% | +6.47% |
Max Drawdown (5Y)Largest decline over 5 years | -27.23% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.36% | — | — |
Current DrawdownCurrent decline from peak | -11.75% | -0.51% | -11.24% |
Average DrawdownAverage peak-to-trough decline | -12.35% | -3.89% | -8.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.00% | 1.61% | +4.39% |
Volatility
DHY vs. AVLV - Volatility Comparison
The current volatility for Dimensional High Yield Equity Fund (DHY) is 2.13%, while Avantis U.S. Large Cap Value ETF (AVLV) has a volatility of 3.89%. This indicates that DHY experiences smaller price fluctuations and is considered to be less risky than AVLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DHY | AVLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.13% | 3.89% | -1.76% |
Volatility (6M)Calculated over the trailing 6-month period | 9.88% | 9.40% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.16% | 12.60% | -0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.36% | 17.32% | -1.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.94% | 17.32% | +0.62% |
DHY vs. AVLV - Expense Ratio Comparison
DHY has a 0.04% expense ratio, which is lower than AVLV's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
DHY vs. AVLV - Dividend Comparison
DHY's dividend yield for the trailing twelve months is around 10.69%, more than AVLV's 1.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVLV Avantis U.S. Large Cap Value ETF | 1.06% | 1.33% | 1.58% | 1.85% | 2.00% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DHY Dimensional High Yield Equity Fund | 10.69% | 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
DHY and AVLV have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVLV has higher volatility (3.89%) compared to DHY (2.13%). In terms of maximum drawdown, DHY dropped -71.47% vs AVLV's -19.50%.
AVLV currently has the higher Sharpe Ratio (3.08 vs -0.74), 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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