DIAMX vs. SPY
Compare and contrast key facts about Diamond Hill Long-Short Fund (DIAMX) and SPDR S&P 500 ETF (SPY).
DIAMX is managed by Diamond Hill. It was launched on Jun 29, 2000. 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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DIAMX or SPY.
Correlation
The correlation between DIAMX and SPY is 0.77, 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.
Performance
DIAMX vs. SPY - Performance Comparison
Key characteristics
DIAMX:
0.16
SPY:
1.88
DIAMX:
0.24
SPY:
2.53
DIAMX:
1.04
SPY:
1.35
DIAMX:
0.12
SPY:
2.83
DIAMX:
0.48
SPY:
11.74
DIAMX:
3.20%
SPY:
2.02%
DIAMX:
9.90%
SPY:
12.64%
DIAMX:
-41.19%
SPY:
-55.19%
DIAMX:
-8.30%
SPY:
-0.42%
Returns By Period
In the year-to-date period, DIAMX achieves a 3.30% return, which is significantly lower than SPY's 4.15% return. Over the past 10 years, DIAMX has underperformed SPY with an annualized return of 1.75%, while SPY has yielded a comparatively higher 13.18% annualized return.
DIAMX
3.30%
-0.26%
-3.78%
1.09%
1.84%
1.75%
SPY
4.15%
1.22%
10.44%
24.34%
14.62%
13.18%
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DIAMX vs. SPY - Expense Ratio Comparison
DIAMX has a 1.36% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
DIAMX vs. SPY — Risk-Adjusted Performance Rank
DIAMX
SPY
DIAMX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Diamond Hill Long-Short Fund (DIAMX) and 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.
Dividends
DIAMX vs. SPY - Dividend Comparison
DIAMX's dividend yield for the trailing twelve months is around 2.15%, more than SPY's 1.16% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIAMX Diamond Hill Long-Short Fund | 2.15% | 2.22% | 2.05% | 0.36% | 0.00% | 0.19% | 0.65% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.16% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
DIAMX vs. SPY - Drawdown Comparison
The maximum DIAMX drawdown since its inception was -41.19%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for DIAMX and SPY. For additional features, visit the drawdowns tool.
Volatility
DIAMX vs. SPY - Volatility Comparison
The current volatility for Diamond Hill Long-Short Fund (DIAMX) is 1.94%, while SPDR S&P 500 ETF (SPY) has a volatility of 2.93%. This indicates that DIAMX 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.