DLDFX vs. DHEIX

Last updated Jun 24, 2026

DLDFX (Destinations Low Duration Fixed Income Fund) and DHEIX (Diamond Hill Short Duration Securitized Bond Fund Class I) are both Short-Term Bond funds. Over the past 5 years, DLDFX returned 3.87%/yr vs 4.56%/yr for DHEIX. At a 0.37 correlation, their price movements are largely independent. DLDFX charges 0.93%/yr vs 0.53%/yr for DHEIX.

Performance

DLDFX vs. DHEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Destinations Low Duration Fixed Income Fund (DLDFX) and Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLDFX achieves a 1.72% return, which is significantly lower than DHEIX's 1.88% return.

DLDFX

• 1D: 0.00%
• 1M: 0.14%
• YTD: 1.72%
• 6M: 1.98%
• 1Y: 4.66%
• 3Y*: 5.83%
• 5Y*: 3.87%
• 10Y*: —

DHEIX

• 1D: 0.00%
• 1M: 0.36%
• YTD: 1.88%
• 6M: 2.09%
• 1Y: 4.88%
• 3Y*: 7.70%
• 5Y*: 4.56%
• 10Y*: —

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

DLDFX vs. DHEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DLDFX Destinations Low Duration Fixed Income Fund	1.72%	4.91%	6.09%	7.11%	-2.59%	5.41%	1.52%	1.16%
DHEIX Diamond Hill Short Duration Securitized Bond Fund Class I	1.88%	6.06%	9.33%	8.91%	-3.38%	2.74%	3.09%	2.52%

Correlation

The correlation between DLDFX and DHEIX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jun 3, 2019	0.37

Return for Risk

DLDFX vs. DHEIX — Risk / Return Rank

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

DLDFX

DLDFX Risk / Return Rank: 95
DLDFX Sharpe Ratio Rank: 89
DLDFX Sortino Ratio Rank: 95
DLDFX Omega Ratio Rank: 96
DLDFX Calmar Ratio Rank: 98
DLDFX Martin Ratio Rank: 96

DHEIX

DHEIX Risk / Return Rank: 99
DHEIX Sharpe Ratio Rank: 99
DHEIX Sortino Ratio Rank: 99
DHEIX Omega Ratio Rank: 99
DHEIX Calmar Ratio Rank: 99
DHEIX Martin Ratio Rank: 99

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.

DLDFX vs. DHEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Destinations Low Duration Fixed Income Fund (DLDFX) and Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX). 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.

	DLDFX	DHEIX	Difference
Sharpe ratio: Return per unit of total volatility	2.73	4.67	-1.95
Sortino ratio: Return per unit of downside risk	4.67	8.11	-3.44
Omega ratio: Gain probability vs. loss probability	1.79	2.58	-0.79
Calmar ratio: Return relative to maximum drawdown	7.31	10.01	-2.70
Martin ratio: Return relative to average drawdown	21.51	44.25	-22.74

DLDFX vs. DHEIX - Sharpe Ratio Comparison

The current DLDFX Sharpe Ratio is 2.73, which is lower than the DHEIX Sharpe Ratio of 4.67. The chart below compares the historical Sharpe Ratios of DLDFX and DHEIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DLDFX vs. DHEIX - Drawdown Comparison

The maximum DLDFX drawdown since its inception was -8.64%, smaller than the maximum DHEIX drawdown of -12.33%. Use the drawdown chart below to compare losses from any high point for DLDFX and DHEIX.

Drawdown Indicators

	DLDFX	DHEIX	Difference
Max Drawdown Largest peak-to-trough decline	-8.64%	-12.33%	+3.69%
Max Drawdown (1Y) Largest decline over 1 year	-0.64%	-0.50%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	-1.71%	-0.50%	-1.21%
Max Drawdown (5Y) Largest decline over 5 years	-3.88%	-4.87%	+0.99%
Current Drawdown Current decline from peak	-0.11%	-0.10%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.70%	-0.75%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	0.11%	+0.10%

Volatility

DLDFX vs. DHEIX - Volatility Comparison

Destinations Low Duration Fixed Income Fund (DLDFX) has a higher volatility of 0.44% compared to Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX) at 0.40%. This indicates that DLDFX's price experiences larger fluctuations and is considered to be riskier than DHEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLDFX	DHEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.44%	0.40%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	1.32%	0.76%	+0.56%
Volatility (1Y) Calculated over the trailing 1-year period	1.72%	1.07%	+0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.81%	1.54%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.07%	2.26%	-0.19%

DLDFX vs. DHEIX - Expense Ratio Comparison

DLDFX has a 0.93% expense ratio, which is higher than DHEIX's 0.53% expense ratio.

Dividends

DLDFX vs. DHEIX - Dividend Comparison

DLDFX's dividend yield for the trailing twelve months is around 5.33%, less than DHEIX's 5.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHEIX Diamond Hill Short Duration Securitized Bond Fund Class I	5.91%	5.51%	6.21%	5.52%	3.72%	2.62%	3.22%	4.05%	3.74%	3.45%
DLDFX Destinations Low Duration Fixed Income Fund	5.33%	5.29%	5.64%	4.77%	4.54%	3.74%	3.86%	2.18%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DLDFX and DHEIX in my portfolio?

DLDFX and DHEIX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DLDFX or DHEIX?

DLDFX has higher volatility (0.44%) compared to DHEIX (0.40%). In terms of maximum drawdown, DLDFX dropped -8.64% vs DHEIX's -12.33%.

Which has better risk-adjusted returns?

DHEIX currently has the higher Sharpe Ratio (4.67 vs 2.73), 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.