HSDAX vs. DHEAX
HSDAX (Hartford Short Duration Fund) and DHEAX (Diamond Hill Short Duration Securitized Bond Fund) are both Short-Term Bond funds. Over the past 5 years, HSDAX returned 2.46%/yr vs 4.26%/yr for DHEAX. A 0.55 correlation means they provide meaningful diversification when combined. HSDAX charges 0.79%/yr vs 0.83%/yr for DHEAX.
Performance
HSDAX vs. DHEAX - Performance Comparison
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Returns By Period
In the year-to-date period, HSDAX achieves a 0.72% return, which is significantly lower than DHEAX's 1.75% return.
HSDAX
- 1D
- 0.10%
- 1M
- 0.27%
- YTD
- 0.72%
- 6M
- 1.08%
- 1Y
- 4.14%
- 3Y*
- 5.33%
- 5Y*
- 2.46%
- 10Y*
- 2.57%
DHEAX
- 1D
- 0.10%
- 1M
- 0.33%
- YTD
- 1.75%
- 6M
- 1.93%
- 1Y
- 4.69%
- 3Y*
- 7.45%
- 5Y*
- 4.26%
- 10Y*
- —
HSDAX vs. DHEAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSDAX Hartford Short Duration Fund | 0.72% | 6.10% | 5.03% | 6.14% | -5.04% | -0.05% | 3.80% | 6.08% | 0.36% | 2.18% |
DHEAX Diamond Hill Short Duration Securitized Bond Fund | 1.75% | 5.70% | 9.15% | 8.38% | -3.57% | 2.42% | 2.87% | 4.44% | 2.88% | 3.97% |
Correlation
The correlation between HSDAX and DHEAX is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.55 |
The correlation between HSDAX and DHEAX shifts across timeframes, from 0.53 (1 year) to 0.66 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HSDAX vs. DHEAX — Risk / Return Rank
HSDAX
DHEAX
HSDAX vs. DHEAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hartford Short Duration Fund (HSDAX) and Diamond Hill Short Duration Securitized Bond Fund (DHEAX). 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.
| HSDAX | DHEAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.12 | ||
| Sortino ratioReturn per unit of downside risk | -2.94 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 2.41 | -0.84 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 9.63 | -6.39 |
| Martin ratioReturn relative to average drawdown | 14.48 | 42.02 | -27.54 |
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Drawdowns
HSDAX vs. DHEAX - Drawdown Comparison
The maximum HSDAX drawdown since its inception was -10.19%, smaller than the maximum DHEAX drawdown of -12.34%. Use the drawdown chart below to compare losses from any high point for HSDAX and DHEAX.
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Drawdown Indicators
| HSDAX | DHEAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.19% | -12.34% | +2.15% |
Max Drawdown (1Y)Largest decline over 1 year | -1.32% | -0.50% | -0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -1.32% | -0.50% | -0.82% |
Max Drawdown (5Y)Largest decline over 5 years | -7.63% | -5.06% | -2.57% |
Max Drawdown (10Y)Largest decline over 10 years | -10.19% | — | — |
Current DrawdownCurrent decline from peak | -0.31% | -0.10% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -0.68% | -0.80% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.29% | 0.11% | +0.18% |
Volatility
HSDAX vs. DHEAX - Volatility Comparison
Hartford Short Duration Fund (HSDAX) has a higher volatility of 0.70% compared to Diamond Hill Short Duration Securitized Bond Fund (DHEAX) at 0.31%. This indicates that HSDAX's price experiences larger fluctuations and is considered to be riskier than DHEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSDAX | DHEAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 0.31% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 1.52% | 0.75% | +0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.94% | 1.12% | +0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.21% | 1.52% | +0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.27% | 2.26% | +0.01% |
HSDAX vs. DHEAX - Expense Ratio Comparison
HSDAX has a 0.79% expense ratio, which is lower than DHEAX's 0.83% expense ratio.
Dividends
HSDAX vs. DHEAX - Dividend Comparison
HSDAX's dividend yield for the trailing twelve months is around 4.39%, less than DHEAX's 5.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHEAX Diamond Hill Short Duration Securitized Bond Fund | 5.63% | 5.27% | 5.94% | 5.25% | 3.41% | 2.31% | 2.92% | 3.76% | 3.45% | 3.20% | 0.00% | 0.00% |
HSDAX Hartford Short Duration Fund | 4.39% | 4.26% | 3.43% | 2.71% | 2.03% | 1.36% | 2.08% | 2.60% | 2.55% | 2.27% | 1.74% | 1.67% |
Frequently Asked Questions
HSDAX and DHEAX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSDAX has higher volatility (0.70%) compared to DHEAX (0.31%). In terms of maximum drawdown, HSDAX dropped -10.19% vs DHEAX's -12.34%.
DHEAX currently has the higher Sharpe Ratio (4.31 vs 2.19), 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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