HOSBX vs. DHEIX

Last updated Jun 3, 2026

HOSBX (Homestead Funds Short Term Bond Fund) and DHEIX (Diamond Hill Short Duration Securitized Bond Fund Class I) are both Short-Term Bond funds. Over the past 5 years, HOSBX returned 1.55%/yr vs 4.54%/yr for DHEIX. A 0.54 correlation means they provide meaningful diversification when combined. HOSBX charges 0.79%/yr vs 0.53%/yr for DHEIX.

Performance

HOSBX vs. DHEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Homestead Funds Short Term Bond Fund (HOSBX) 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, HOSBX achieves a 0.34% return, which is significantly lower than DHEIX's 1.68% return.

HOSBX

• 1D: 0.00%
• 1M: 0.11%
• YTD: 0.34%
• 6M: 0.65%
• 1Y: 3.85%
• 3Y*: 4.31%
• 5Y*: 1.55%
• 10Y*: 2.04%

DHEIX

• 1D: -0.10%
• 1M: 0.36%
• YTD: 1.68%
• 6M: 1.98%
• 1Y: 5.29%
• 3Y*: 7.71%
• 5Y*: 4.54%
• 10Y*: —

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

HOSBX vs. DHEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HOSBX Homestead Funds Short Term Bond Fund	0.34%	5.87%	3.78%	5.08%	-5.71%	-1.11%	5.38%	3.89%	1.45%	1.66%
DHEIX Diamond Hill Short Duration Securitized Bond Fund Class I	1.68%	6.06%	9.33%	8.91%	-3.38%	2.74%	3.09%	4.85%	3.18%	4.23%

Correlation

The correlation between HOSBX and DHEIX is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.54

The correlation between HOSBX and DHEIX shifts across timeframes, from 0.54 (all time) to 0.65 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

HOSBX vs. DHEIX — Risk / Return Rank

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

HOSBX

HOSBX Risk / Return Rank: 39
HOSBX Sharpe Ratio Rank: 29
HOSBX Sortino Ratio Rank: 31
HOSBX Omega Ratio Rank: 42
HOSBX Calmar Ratio Rank: 47
HOSBX Martin Ratio Rank: 46

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.

HOSBX vs. DHEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Homestead Funds Short Term Bond Fund (HOSBX) 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.

	HOSBX	DHEIX	Difference
Sharpe ratio Return per unit of total volatility	1.54	5.07	-3.53
Sortino ratio Return per unit of downside risk	2.34	9.28	-6.93
Omega ratio Gain probability vs. loss probability	1.35	2.86	-1.51
Calmar ratio Return relative to maximum drawdown	2.63	10.81	-8.18
Martin ratio Return relative to average drawdown	9.63	48.33	-38.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HOSBX vs. DHEIX - Sharpe Ratio Comparison

The current HOSBX Sharpe Ratio is 1.54, which is lower than the DHEIX Sharpe Ratio of 5.07. The chart below compares the historical Sharpe Ratios of HOSBX 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.

Sharpe Ratios by Period

	HOSBX	DHEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	5.07	-3.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	2.98	-2.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.57	1.89	-0.32

Drawdowns

HOSBX vs. DHEIX - Drawdown Comparison

The maximum HOSBX drawdown since its inception was -8.84%, smaller than the maximum DHEIX drawdown of -12.33%. Use the drawdown chart below to compare losses from any high point for HOSBX and DHEIX.

Drawdown Indicators

	HOSBX	DHEIX	Difference
Max Drawdown Largest peak-to-trough decline	-8.84%	-12.33%	+3.49%
Max Drawdown (1Y) Largest decline over 1 year	-1.59%	-0.50%	-1.09%
Max Drawdown (3Y) Largest decline over 3 years	-1.59%	-0.50%	-1.09%
Max Drawdown (5Y) Largest decline over 5 years	-8.84%	-4.87%	-3.97%
Max Drawdown (10Y) Largest decline over 10 years	-8.84%	—	—
Current Drawdown Current decline from peak	-0.47%	-0.10%	-0.37%
Average Drawdown Average peak-to-trough decline	-0.65%	-0.76%	+0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	0.11%	+0.33%

Volatility

HOSBX vs. DHEIX - Volatility Comparison

Homestead Funds Short Term Bond Fund (HOSBX) has a higher volatility of 0.70% compared to Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX) at 0.30%. This indicates that HOSBX'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

	HOSBX	DHEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	0.30%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	1.76%	0.74%	+1.02%
Volatility (1Y) Calculated over the trailing 1-year period	2.38%	1.05%	+1.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.99%	1.53%	+1.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.41%	2.27%	+0.14%

HOSBX vs. DHEIX - Expense Ratio Comparison

HOSBX has a 0.79% expense ratio, which is higher than DHEIX's 0.53% expense ratio.

Dividends

HOSBX vs. DHEIX - Dividend Comparison

HOSBX's dividend yield for the trailing twelve months is around 3.80%, less than DHEIX's 5.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHEIX Diamond Hill Short Duration Securitized Bond Fund Class I	5.92%	5.51%	6.21%	5.52%	3.72%	2.62%	3.22%	4.05%	3.74%	3.45%	0.00%	0.00%
HOSBX Homestead Funds Short Term Bond Fund	3.80%	3.86%	3.50%	2.85%	1.74%	1.37%	3.57%	2.66%	1.83%	1.65%	1.55%	1.40%

Frequently Asked Questions

Can I hold both HOSBX and DHEIX in my portfolio?

HOSBX and DHEIX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOSBX or DHEIX?

HOSBX has higher volatility (0.70%) compared to DHEIX (0.30%). In terms of maximum drawdown, HOSBX dropped -8.84% vs DHEIX's -12.33%.

Which has better risk-adjusted returns?

DHEIX currently has the higher Sharpe Ratio (5.07 vs 1.54), 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.