OAKM vs. DHLX

Last updated Jun 23, 2026

OAKM (Oakmark U.S. Large Cap ETF) and DHLX (Diamond Hill Large Cap Concentrated ETF) are both Large Cap Value Equities funds. OAKM is actively managed, while DHLX is passively managed. A 0.75 correlation means they provide meaningful diversification when combined. OAKM charges 0.59%/yr vs 0.55%/yr for DHLX.

Performance

OAKM vs. DHLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark U.S. Large Cap ETF (OAKM) and Diamond Hill Large Cap Concentrated ETF (DHLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with OAKM having a -2.05% return and DHLX slightly higher at -2.01%.

OAKM

• 1D: 0.11%
• 1M: -1.24%
• YTD: -2.05%
• 6M: -2.46%
• 1Y: 11.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DHLX

• 1D: -0.15%
• 1M: -1.89%
• YTD: -2.01%
• 6M: -2.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OAKM vs. DHLX - Yearly Performance Comparison

	2026 (YTD)	2025
OAKM Oakmark U.S. Large Cap ETF	-2.05%	5.87%
DHLX Diamond Hill Large Cap Concentrated ETF	-2.01%	1.22%

Correlation

The correlation between OAKM and DHLX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 29, 2025	0.75

Return for Risk

OAKM vs. DHLX — Risk / Return Rank

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

OAKM

OAKM Risk / Return Rank: 28
OAKM Sharpe Ratio Rank: 26
OAKM Sortino Ratio Rank: 25
OAKM Omega Ratio Rank: 24
OAKM Calmar Ratio Rank: 34
OAKM Martin Ratio Rank: 30

DHLX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

OAKM vs. DHLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oakmark U.S. Large Cap ETF (OAKM) and Diamond Hill Large Cap Concentrated ETF (DHLX). 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.

	OAKM	DHLX	Difference
Sharpe ratio: Return per unit of total volatility	0.90	—	—
Sortino ratio: Return per unit of downside risk	1.36	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	1.65	—	—
Martin ratio: Return relative to average drawdown	4.13	—	—

Drawdowns

OAKM vs. DHLX - Drawdown Comparison

The maximum OAKM drawdown since its inception was -15.24%, which is greater than DHLX's maximum drawdown of -8.40%. Use the drawdown chart below to compare losses from any high point for OAKM and DHLX.

Drawdown Indicators

	OAKM	DHLX	Difference
Max Drawdown Largest peak-to-trough decline	-15.24%	-8.40%	-6.84%
Max Drawdown (1Y) Largest decline over 1 year	-7.19%	—	—
Current Drawdown Current decline from peak	-4.47%	-5.84%	+1.37%
Average Drawdown Average peak-to-trough decline	-2.81%	-2.55%	-0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	—	—

Volatility

Volatility by Period

	OAKM	DHLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.37%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.14%	11.32%	+1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.44%	11.32%	+5.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.44%	11.32%	+5.12%

OAKM vs. DHLX - Expense Ratio Comparison

OAKM has a 0.59% expense ratio, which is higher than DHLX's 0.55% expense ratio.

Dividends

OAKM vs. DHLX - Dividend Comparison

OAKM's dividend yield for the trailing twelve months is around 0.68%, more than DHLX's 0.41% yield.

Position	TTM	2025	2024
DHLX Diamond Hill Large Cap Concentrated ETF	0.41%	0.15%	0.00%
OAKM Oakmark U.S. Large Cap ETF	0.68%	0.67%	0.04%

Frequently Asked Questions

Can I hold both OAKM and DHLX in my portfolio?

OAKM and DHLX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OAKM or DHLX?

On fees, DHLX is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OAKM or DHLX?

DHLX is cheaper with a 0.55% expense ratio, compared with 0.59% for OAKM.

Which ETF pays a higher dividend yield, OAKM or DHLX?

OAKM has the higher dividend yield at 0.68%, compared with 0.41% for DHLX.

What is the main difference between OAKM and DHLX?

They also come from different issuers: Oakmark and Diamond Hill. Their fees differ too: 0.59% for OAKM and 0.55% for DHLX.