SCFIX vs. DHF

Last updated Jun 4, 2026

SCFIX (Shenkman Capital Short Duration High Income Fund) and DHF (Dimensional High Yield Fund) are both High Yield Bonds funds. Over the past 10 years, SCFIX returned 4.39%/yr vs 5.97%/yr for DHF. At a 0.36 correlation, their price movements are largely independent. SCFIX charges 0.67%/yr vs 0.04%/yr for DHF.

Performance

SCFIX vs. DHF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shenkman Capital Short Duration High Income Fund (SCFIX) and Dimensional High Yield Fund (DHF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCFIX achieves a 1.42% return, which is significantly higher than DHF's 0.86% return. Over the past 10 years, SCFIX has underperformed DHF with an annualized return of 4.39%, while DHF has yielded a comparatively higher 5.97% annualized return.

SCFIX

• 1D: 0.10%
• 1M: 0.55%
• YTD: 1.42%
• 6M: 2.02%
• 1Y: 5.44%
• 3Y*: 6.65%
• 5Y*: 4.47%
• 10Y*: 4.39%

DHF

• 1D: -0.41%
• 1M: 1.14%
• YTD: 0.86%
• 6M: -0.53%
• 1Y: 4.84%
• 3Y*: 12.71%
• 5Y*: 2.85%
• 10Y*: 5.97%

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

SCFIX vs. DHF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCFIX Shenkman Capital Short Duration High Income Fund	1.42%	7.02%	6.11%	9.24%	-2.52%	5.08%	3.36%	7.61%	0.85%	3.54%
DHF Dimensional High Yield Fund	0.86%	5.67%	21.12%	15.00%	-22.70%	10.35%	6.46%	24.68%	-11.11%	8.43%

Correlation

The correlation between SCFIX and DHF is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.36

The correlation between SCFIX and DHF shifts across timeframes, from 0.28 (1 year) to 0.42 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SCFIX vs. DHF — Risk / Return Rank

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

SCFIX

SCFIX Risk / Return Rank: 95
SCFIX Sharpe Ratio Rank: 95
SCFIX Sortino Ratio Rank: 96
SCFIX Omega Ratio Rank: 96
SCFIX Calmar Ratio Rank: 91
SCFIX Martin Ratio Rank: 97

DHF

DHF Risk / Return Rank: 6
DHF Sharpe Ratio Rank: 5
DHF Sortino Ratio Rank: 6
DHF Omega Ratio Rank: 5
DHF Calmar Ratio Rank: 6
DHF Martin Ratio Rank: 6

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.

SCFIX vs. DHF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shenkman Capital Short Duration High Income Fund (SCFIX) and Dimensional High Yield Fund (DHF). 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.

	SCFIX	DHF	Difference
Sharpe ratio: Return per unit of total volatility	3.36	0.41	+2.95
Sortino ratio: Return per unit of downside risk	5.51	0.71	+4.81
Omega ratio: Gain probability vs. loss probability	1.83	1.08	+0.75
Calmar ratio: Return relative to maximum drawdown	4.90	0.56	+4.34
Martin ratio: Return relative to average drawdown	26.53	1.60	+24.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCFIX vs. DHF - Sharpe Ratio Comparison

The current SCFIX Sharpe Ratio is 3.36, which is higher than the DHF Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of SCFIX and DHF, 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

	SCFIX	DHF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.36	0.41	+2.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.62	0.18	+1.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.34	0.34	+1.01
Sharpe Ratio (All Time) Calculated using the full available price history	1.34	0.14	+1.19

Drawdowns

SCFIX vs. DHF - Drawdown Comparison

The maximum SCFIX drawdown since its inception was -13.08%, smaller than the maximum DHF drawdown of -71.32%. Use the drawdown chart below to compare losses from any high point for SCFIX and DHF.

Drawdown Indicators

	SCFIX	DHF	Difference
Max Drawdown Largest peak-to-trough decline	-13.08%	-71.32%	+58.24%
Max Drawdown (1Y) Largest decline over 1 year	-1.11%	-8.66%	+7.55%
Max Drawdown (3Y) Largest decline over 3 years	-1.72%	-11.81%	+10.09%
Max Drawdown (5Y) Largest decline over 5 years	-6.30%	-37.82%	+31.52%
Max Drawdown (10Y) Largest decline over 10 years	-13.08%	-42.94%	+29.86%
Current Drawdown Current decline from peak	0.00%	-3.35%	+3.35%
Average Drawdown Average peak-to-trough decline	-0.51%	-23.03%	+22.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	3.04%	-2.83%

Volatility

SCFIX vs. DHF - Volatility Comparison

The current volatility for Shenkman Capital Short Duration High Income Fund (SCFIX) is 0.50%, while Dimensional High Yield Fund (DHF) has a volatility of 3.21%. This indicates that SCFIX experiences smaller price fluctuations and is considered to be less risky than DHF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCFIX	DHF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.50%	3.21%	-2.71%
Volatility (6M) Calculated over the trailing 6-month period	1.30%	9.68%	-8.38%
Volatility (1Y) Calculated over the trailing 1-year period	1.63%	11.98%	-10.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.77%	15.76%	-12.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.28%	17.78%	-14.50%

SCFIX vs. DHF - Expense Ratio Comparison

SCFIX has a 0.67% expense ratio, which is higher than DHF's 0.04% expense ratio.

Dividends

SCFIX vs. DHF - Dividend Comparison

SCFIX's dividend yield for the trailing twelve months is around 5.32%, less than DHF's 8.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHF Dimensional High Yield Fund	8.64%	8.47%	8.14%	7.86%	10.12%	8.24%	8.60%	8.52%	10.41%	8.98%	9.76%	11.30%
SCFIX Shenkman Capital Short Duration High Income Fund	5.32%	5.54%	5.85%	5.21%	3.86%	4.93%	3.24%	3.78%	3.87%	3.09%	3.07%	3.38%

Frequently Asked Questions

Can I hold both SCFIX and DHF in my portfolio?

SCFIX and DHF have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCFIX or DHF?

DHF has higher volatility (3.21%) compared to SCFIX (0.50%). In terms of maximum drawdown, SCFIX dropped -13.08% vs DHF's -71.32%.

Which has better risk-adjusted returns?

SCFIX currently has the higher Sharpe Ratio (3.36 vs 0.41), 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.