DHY vs. OIEIX

Last updated Apr 1, 2026

Compare and contrast key facts about Dimensional High Yield Equity Fund (DHY) and JPMorgan Equity Income Fund Class A (OIEIX).

DHY is managed by Dimensional Fund Advisors. It was launched on Jan 1, 2013. OIEIX is managed by JPMorgan.

Performance

DHY vs. OIEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional High Yield Equity Fund (DHY) and JPMorgan Equity Income Fund Class A (OIEIX). The values are adjusted to include any dividend payments, if applicable.

DHY vs. OIEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHY Dimensional High Yield Equity Fund	-2.71%	2.19%	18.18%	24.13%	-21.75%	16.99%	0.10%	26.18%	-16.10%	17.06%
OIEIX JPMorgan Equity Income Fund Class A	-0.40%	14.42%	19.54%	4.49%	-2.11%	24.80%	3.30%	26.07%	-4.76%	17.21%

Returns By Period

In the year-to-date period, DHY achieves a -2.71% return, which is significantly lower than OIEIX's -0.40% return. Over the past 10 years, DHY has underperformed OIEIX with an annualized return of 7.91%, while OIEIX has yielded a comparatively higher 10.90% annualized return.

DHY

• 1D: 3.83%
• 1M: -1.24%
• YTD: -2.71%
• 6M: -3.37%
• 1Y: -1.80%
• 3Y*: 9.83%
• 5Y*: 4.43%
• 10Y*: 7.91%

OIEIX

• 1D: -0.08%
• 1M: -6.39%
• YTD: -0.40%
• 6M: 2.00%
• 1Y: 10.96%
• 3Y*: 13.40%
• 5Y*: 9.70%
• 10Y*: 10.90%

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

DHY vs. OIEIX - Expense Ratio Comparison

DHY has a 0.04% expense ratio, which is lower than OIEIX's 0.95% expense ratio.

OIEIX

JPMorgan Equity Income Fund Class A

DHY

Dimensional High Yield Equity Fund

Return for Risk

DHY vs. OIEIX — Risk / Return Rank

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

DHY

DHY Risk / Return Rank: 3
DHY Sharpe Ratio Rank: 3
DHY Sortino Ratio Rank: 3
DHY Omega Ratio Rank: 3
DHY Calmar Ratio Rank: 3
DHY Martin Ratio Rank: 3

OIEIX

OIEIX Risk / Return Rank: 37
OIEIX Sharpe Ratio Rank: 36
OIEIX Sortino Ratio Rank: 34
OIEIX Omega Ratio Rank: 39
OIEIX Calmar Ratio Rank: 35
OIEIX Martin Ratio Rank: 39

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. OIEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional High Yield Equity Fund (DHY) and JPMorgan Equity Income Fund Class A (OIEIX). 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	OIEIX	Difference
Sharpe ratio Return per unit of total volatility	-0.13	0.82	-0.94
Sortino ratio Return per unit of downside risk	-0.08	1.20	-1.27
Omega ratio Gain probability vs. loss probability	0.99	1.18	-0.19
Calmar ratio Return relative to maximum drawdown	-0.26	0.97	-1.23
Martin ratio Return relative to average drawdown	-0.78	4.15	-4.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DHY vs. OIEIX - Sharpe Ratio Comparison

The current DHY Sharpe Ratio is -0.13, which is lower than the OIEIX Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of DHY and OIEIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DHY	OIEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.13	0.82	-0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.68	-0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.65	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.54	-0.36

Correlation

The correlation between DHY and OIEIX is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

DHY vs. OIEIX - Dividend Comparison

DHY's dividend yield for the trailing twelve months is around 9.79%, less than OIEIX's 10.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHY Dimensional High Yield Equity Fund	9.79%	9.30%	8.69%	9.39%	10.57%	7.61%	8.68%	9.02%	11.20%	9.40%	10.52%	12.63%
OIEIX JPMorgan Equity Income Fund Class A	10.91%	10.83%	14.48%	2.59%	3.50%	3.17%	1.62%	2.60%	4.95%	2.29%	2.30%	2.52%

Drawdowns

DHY vs. OIEIX - Drawdown Comparison

The maximum DHY drawdown since its inception was -71.47%, which is greater than OIEIX's maximum drawdown of -50.63%. Use the drawdown chart below to compare losses from any high point for DHY and OIEIX.

Drawdown Indicators

	DHY	OIEIX	Difference
Max Drawdown Largest peak-to-trough decline	-71.47%	-50.63%	-20.84%
Max Drawdown (1Y) Largest decline over 1 year	-10.38%	-11.35%	+0.97%
Max Drawdown (5Y) Largest decline over 5 years	-27.23%	-14.95%	-12.28%
Max Drawdown (10Y) Largest decline over 10 years	-41.36%	-36.92%	-4.44%
Current Drawdown Current decline from peak	-6.10%	-7.14%	+1.04%
Average Drawdown Average peak-to-trough decline	-12.37%	-6.67%	-5.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	2.64%	+0.86%

Volatility

DHY vs. OIEIX - Volatility Comparison

Dimensional High Yield Equity Fund (DHY) has a higher volatility of 6.45% compared to JPMorgan Equity Income Fund Class A (OIEIX) at 3.42%. This indicates that DHY's price experiences larger fluctuations and is considered to be riskier than OIEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DHY	OIEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.45%	3.42%	+3.03%
Volatility (6M) Calculated over the trailing 6-month period	9.58%	7.63%	+1.95%
Volatility (1Y) Calculated over the trailing 1-year period	14.36%	15.16%	-0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.25%	14.26%	+0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.97%	16.80%	+1.17%