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Diamond Hill Short Duration Securitized Bond Fund
mutual fund
DHEIX
Payout Change
Pending
Price as of:
$9.97
+0.0
+0.0%
primary theme
U.S. Short-Term Bond Duration
share class
DHEIX (Mutual Fund)
Diamond Hill Short Duration Securitized Bond Fund
Payout Change
Pending
Price as of:
$9.97
+0.0
+0.0%
primary theme
U.S. Short-Term Bond Duration
share class
DHEIX (Mutual Fund)
Diamond Hill Short Duration Securitized Bond Fund
Payout Change
Pending
Price as of:
$9.97
+0.0
+0.0%
primary theme
U.S. Short-Term Bond Duration
share class
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
9.0%
1 yr return
10.2%
3 Yr Avg Return
4.6%
5 Yr Avg Return
4.0%
Net Assets
$1.61 B
Holdings in Top 10
19.5%
52 WEEK LOW AND HIGH
$10.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.52%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 48.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
DHEIX - Profile
Distributions
- YTD Total Return 9.0%
- 3 Yr Annualized Total Return 4.6%
- 5 Yr Annualized Total Return 4.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.50%
- Dividend Yield 5.9%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameDiamond Hill Short Duration Securitized Bond Fund
-
Fund Family NameDiamond Hill Funds
-
Inception DateJul 05, 2016
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerHenry Song
Fund Description
Under normal market conditions, the fund invests at least 80% of its net assets in securitized bond investments. Securitized bond investments are also referred to as “structured product securities” or “structured products.” Securitized bond investments include secured loans backed by commercial real estate, residential real estate, commercial or consumer loans, and securitizations such as agency and non-agency mortgage-backed securities (MBS) (including commercial mortgage-backed securities (CMBS), residential mortgage-backed securities (RMBS), and collateralized mortgage obligations (CMOs)), asset-backed securities (ABS), and other similar securities and related instruments.
Agency MBS are issued or guaranteed by the US government, its agencies or instrumentalities, which include mortgage pass-through securities representing interests in pools of mortgage loans issued or guaranteed by the Government National Mortgage Association (GNMA or “Ginnie Mae”), the Federal National Mortgage Association (FNMA or “Fannie Mae”), the Student Loan Marketing Association (SLMA or “Sallie Mae”) or the Federal Home Loan Mortgage Corporation (FHLMC or “Freddie Mac”). The fund may also invest in other fixed income instruments, which include bonds, debt or credit securities and other similar instruments issued by various US and non-US public or private sector entities at the discretion of the Diamond Hill Capital Management, Inc. (the “Adviser”).
Under normal circumstances, the fund will maintain an average portfolio duration of less than three, although under certain market conditions, such as periods of significant volatility in interest rates and spreads, the fund’s average duration may be longer than three. Duration is an approximate measure of a bond's price sensitivity to changes in interest rates. For instance, a duration of “three” means that a security’s or portfolio’s price would be expected to decrease by approximately 3% with a 1% increase in interest rates (assuming a parallel shift in yield curve). The fund may invest in individual fixed income securities with effective durations in excess of three, provided, however, such investments are made within the constraints above.
The fund may invest up to 15% of its assets in below investment grade securities, including those referred to as “junk bonds” (or the unrated equivalent) at the time of purchase.
In selecting securities for the fund, the Adviser performs a risk/reward analysis that includes an evaluation of credit risk, interest rate risk, prepayment risk, and the legal and technical structure of the security. The Adviser will attempt to take advantage of inefficiencies that it believes exist in the fixed income markets. The Adviser seeks to invest in securities that the Adviser expects to offer attractive prospects for income and/or capital appreciation in relation to the risk borne.
DHEIX - Performance
Return Ranking - Trailing
| Period | DHEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.0% | 0.9% | 19.9% | 1.54% |
| 1 Yr | 10.2% | 2.4% | 21.5% | 2.11% |
| 3 Yr | 4.6%* | -5.0% | 6.1% | 0.78% |
| 5 Yr | 4.0%* | -3.8% | 5.8% | 2.67% |
| 10 Yr | N/A* | -18.5% | 170.6% | N/A |
* Annualized
Return Ranking - Calendar
| Period | DHEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.0% | -1.6% | 7.6% | 16.73% |
| 2022 | -6.8% | -17.7% | -2.6% | 45.79% |
| 2021 | 0.1% | -4.0% | 4.4% | 3.62% |
| 2020 | -0.3% | -7.1% | 7.6% | 93.62% |
| 2019 | 0.7% | -2.3% | 9.3% | 97.45% |
Total Return Ranking - Trailing
| Period | DHEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.0% | 0.9% | 19.9% | 1.54% |
| 1 Yr | 10.2% | 2.4% | 21.5% | 2.11% |
| 3 Yr | 4.6%* | -5.0% | 6.1% | 0.78% |
| 5 Yr | 4.0%* | -3.8% | 5.8% | 2.67% |
| 10 Yr | N/A* | -18.5% | 170.6% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | DHEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.9% | 1.8% | 15.2% | 1.92% |
| 2022 | -3.4% | -17.3% | -1.3% | 11.55% |
| 2021 | 2.5% | -2.7% | 7.7% | 4.43% |
| 2020 | 3.1% | -2.4% | 14.5% | 85.39% |
| 2019 | 4.8% | 0.6% | 12.6% | 42.55% |
NAV & Total Return History
DHEIX - Holdings
Concentration Analysis
| DHEIX | Category Low | Category High | DHEIX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.61 B | 14.5 K | 57.3 B | 45.40% |
| Number of Holdings | 505 | 2 | 8314 | 45.21% |
| Net Assets in Top 10 | 566 M | 1.05 M | 6.81 B | 38.12% |
| Weighting of Top 10 | 19.51% | 2.0% | 108.1% | 66.28% |
Top 10 Holdings
- State Street Institutional US Government Money Market Fund, Premier Class 9.39%
- State Street Navigator Securities Lending Portfolio I 2.02%
- Multifamily Structured Credit Risk Series 2021-MN2, Class M2 1.29%
- Homeward Opportunities Funding Trust Series 2024-RTL1, Class A1 1.26%
- Firstkey Homes Trust Series 2020-SFR1, Class A 1.17%
- LHOME Mortgage Trust Series 2024-RTL3, Class A2 0.91%
- Freedom Financial Series 2022-4FP, Class D 0.89%
- LHOME Mortgage Trust Series 2024-RTL2, Class A1 0.88%
- U.S. Treasury Notes 2.250%, Due 10/31/2024 0.86%
- Remic Funding Trust Series 2024-2, Class A1 0.83%
Asset Allocation
| Weighting | Return Low | Return High | DHEIX % Rank | |
|---|---|---|---|---|
| Other | 73.75% | -0.97% | 73.75% | 0.57% |
| Bonds | 17.85% | 0.00% | 131.65% | 92.72% |
| Cash | 11.42% | -20.59% | 68.64% | 14.56% |
| Convertible Bonds | 0.39% | 0.00% | 27.71% | 89.64% |
| Stocks | 0.00% | 0.00% | 99.96% | 69.92% |
| Preferred Stocks | 0.00% | 0.00% | 24.12% | 68.39% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | DHEIX % Rank | |
|---|---|---|---|---|
| Securitized | 87.42% | 0.00% | 97.27% | 0.96% |
| Cash & Equivalents | 11.42% | 0.00% | 68.64% | 13.98% |
| Corporate | 6.01% | 0.00% | 99.82% | 97.70% |
| Government | 5.02% | 0.00% | 73.63% | 83.11% |
| Derivative | 0.00% | -0.72% | 25.70% | 67.82% |
| Municipal | 0.00% | 0.00% | 14.41% | 81.57% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | DHEIX % Rank | |
|---|---|---|---|---|
| US | 17.85% | 0.00% | 126.86% | 91.95% |
| Non US | 0.00% | 0.00% | 87.70% | 66.86% |
DHEIX - Expenses
Operational Fees
| DHEIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.52% | 0.01% | 3.29% | 66.15% |
| Management Fee | 0.35% | 0.00% | 1.19% | 59.00% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.17% | 0.01% | 0.41% | 85.31% |
Sales Fees
| DHEIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.50% | 5.75% | N/A |
| Deferred Load | N/A | 0.50% | 4.00% | N/A |
Trading Fees
| DHEIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| DHEIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 48.00% | 2.00% | 500.00% | 27.49% |
DHEIX - Distributions
Dividend Yield Analysis
| DHEIX | Category Low | Category High | DHEIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.90% | 0.00% | 11.11% | 2.30% |
Dividend Distribution Analysis
| DHEIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| DHEIX | Category Low | Category High | DHEIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.50% | -1.27% | 4.98% | 4.68% |
Capital Gain Distribution Analysis
| DHEIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 27, 2024 | $0.049 | OrdinaryDividend |
| Oct 30, 2024 | $0.051 | OrdinaryDividend |
| Sep 27, 2024 | $0.050 | OrdinaryDividend |
| Aug 29, 2024 | $0.053 | OrdinaryDividend |
| Jul 30, 2024 | $0.051 | OrdinaryDividend |
| Apr 29, 2024 | $0.047 | OrdinaryDividend |
| Mar 27, 2024 | $0.053 | OrdinaryDividend |
| Feb 28, 2024 | $0.052 | OrdinaryDividend |
| Jan 30, 2024 | $0.053 | OrdinaryDividend |
| Dec 28, 2023 | $0.049 | OrdinaryDividend |
| Nov 29, 2023 | $0.047 | OrdinaryDividend |
| Oct 30, 2023 | $0.053 | OrdinaryDividend |
| Sep 28, 2023 | $0.045 | OrdinaryDividend |
| Aug 30, 2023 | $0.045 | OrdinaryDividend |
| Jul 28, 2023 | $0.044 | OrdinaryDividend |
| Jun 29, 2023 | $0.043 | OrdinaryDividend |
| May 30, 2023 | $0.043 | OrdinaryDividend |
| Apr 27, 2023 | $0.042 | OrdinaryDividend |
| Mar 30, 2023 | $0.039 | OrdinaryDividend |
| Feb 27, 2023 | $0.040 | OrdinaryDividend |
| Jan 30, 2023 | $0.045 | OrdinaryDividend |
| Dec 29, 2022 | $0.036 | OrdinaryDividend |
| Nov 29, 2022 | $0.035 | OrdinaryDividend |
| Oct 28, 2022 | $0.034 | OrdinaryDividend |
| Sep 29, 2022 | $0.036 | OrdinaryDividend |
| Aug 30, 2022 | $0.032 | OrdinaryDividend |
| Jul 28, 2022 | $0.029 | OrdinaryDividend |
| Jun 29, 2022 | $0.031 | OrdinaryDividend |
| May 27, 2022 | $0.026 | OrdinaryDividend |
| Apr 28, 2022 | $0.025 | OrdinaryDividend |
| Mar 30, 2022 | $0.024 | OrdinaryDividend |
| Feb 25, 2022 | $0.020 | OrdinaryDividend |
| Jan 28, 2022 | $0.022 | OrdinaryDividend |
| Dec 14, 2021 | $0.002 | CapitalGainLongTerm |
| Nov 29, 2021 | $0.020 | OrdinaryDividend |
| Oct 28, 2021 | $0.019 | OrdinaryDividend |
| Sep 29, 2021 | $0.018 | OrdinaryDividend |
| Aug 30, 2021 | $0.019 | OrdinaryDividend |
| Jul 29, 2021 | $0.022 | OrdinaryDividend |
| Jun 28, 2021 | $0.020 | OrdinaryDividend |
| May 27, 2021 | $0.020 | OrdinaryDividend |
| Apr 29, 2021 | $0.029 | OrdinaryDividend |
| Mar 30, 2021 | $0.027 | OrdinaryDividend |
| Feb 25, 2021 | $0.022 | OrdinaryDividend |
| Jan 28, 2021 | $0.024 | OrdinaryDividend |
| Dec 30, 2020 | $0.022 | OrdinaryDividend |
| Nov 27, 2020 | $0.024 | OrdinaryDividend |
| Oct 29, 2020 | $0.024 | OrdinaryDividend |
| Sep 29, 2020 | $0.025 | OrdinaryDividend |
| Aug 28, 2020 | $0.027 | OrdinaryDividend |
| Jul 30, 2020 | $0.027 | OrdinaryDividend |
| Jun 29, 2020 | $0.027 | OrdinaryDividend |
| May 28, 2020 | $0.028 | OrdinaryDividend |
| Apr 29, 2020 | $0.029 | OrdinaryDividend |
| Mar 30, 2020 | $0.034 | OrdinaryDividend |
| Feb 27, 2020 | $0.026 | OrdinaryDividend |
| Jan 30, 2020 | $0.032 | OrdinaryDividend |
| Dec 30, 2019 | $0.032 | OrdinaryDividend |
| Dec 12, 2019 | $0.005 | CapitalGainShortTerm |
| Nov 27, 2019 | $0.036 | OrdinaryDividend |
| Oct 30, 2019 | $0.036 | OrdinaryDividend |
| Sep 27, 2019 | $0.032 | OrdinaryDividend |
| Aug 29, 2019 | $0.042 | OrdinaryDividend |
| Jul 30, 2019 | $0.040 | OrdinaryDividend |
| Jun 27, 2019 | $0.030 | OrdinaryDividend |
| May 30, 2019 | $0.031 | OrdinaryDividend |
| Apr 29, 2019 | $0.030 | OrdinaryDividend |
| Mar 28, 2019 | $0.033 | OrdinaryDividend |
| Feb 27, 2019 | $0.030 | OrdinaryDividend |
| Jan 30, 2019 | $0.033 | OrdinaryDividend |
| Dec 28, 2018 | $0.032 | OrdinaryDividend |
| Dec 13, 2018 | $0.006 | CapitalGainShortTerm |
| Nov 29, 2018 | $0.032 | OrdinaryDividend |
| Oct 30, 2018 | $0.034 | OrdinaryDividend |
| Sep 27, 2018 | $0.029 | OrdinaryDividend |
| Aug 30, 2018 | $0.032 | OrdinaryDividend |
| Jul 30, 2018 | $0.033 | OrdinaryDividend |
| Jun 28, 2018 | $0.028 | OrdinaryDividend |
| May 30, 2018 | $0.032 | OrdinaryDividend |
| Apr 27, 2018 | $0.030 | OrdinaryDividend |
| Mar 28, 2018 | $0.030 | OrdinaryDividend |
| Feb 27, 2018 | $0.030 | OrdinaryDividend |
| Jan 30, 2018 | $0.028 | OrdinaryDividend |
| Dec 28, 2017 | $0.030 | OrdinaryDividend |
| Dec 14, 2017 | $0.013 | CapitalGainShortTerm |
| Nov 29, 2017 | $0.030 | OrdinaryDividend |
| Oct 30, 2017 | $0.029 | OrdinaryDividend |
| Sep 28, 2017 | $0.026 | OrdinaryDividend |
| Aug 30, 2017 | $0.030 | OrdinaryDividend |
| Jul 28, 2017 | $0.030 | OrdinaryDividend |
| Jun 29, 2017 | $0.029 | OrdinaryDividend |
| May 30, 2017 | $0.029 | OrdinaryDividend |
| Apr 27, 2017 | $0.027 | OrdinaryDividend |
| Mar 30, 2017 | $0.027 | OrdinaryDividend |
| Feb 27, 2017 | $0.025 | OrdinaryDividend |
| Jan 30, 2017 | $0.024 | OrdinaryDividend |
| Dec 29, 2016 | $0.025 | OrdinaryDividend |
| Nov 29, 2016 | $0.023 | OrdinaryDividend |
| Oct 28, 2016 | $0.021 | OrdinaryDividend |
| Sep 29, 2016 | $0.018 | OrdinaryDividend |
| Aug 30, 2016 | $0.009 | OrdinaryDividend |
DHEIX - Fund Manager Analysis
Managers
Henry Song
Start Date
Tenure
Tenure Rank
Jul 05, 2016
5.91
5.9%
Henry serves as a Portfolio Manager for Diamond Hill Capital Management and joined the firm in 2016. Prior to joining Diamond Hill, Henry was a Portfolio Manager at J.P. Morgan Asset Management from 2005 to 2016. Henry has a Bachelor of Business Administration from the University of Michigan.
Mark Jackson
Start Date
Tenure
Tenure Rank
Jul 05, 2016
5.91
5.9%
Mark serves as a Portfolio Manager for Diamond Hill Capital Management and joined the firm in 2016. Prior to joining Diamond Hill, Mark was Managing Director and Portfolio Manager at J.P. Morgan Asset Management from 1996 to 2016. From 1993 to 1995, he was a Portfolio Manager for Alexander Hamilton Life Insurance Company. From 1985 to 1993, Mark was a Portfolio Manager for Public Employees Retirement System of Ohio. Mark has a Bachelor of Science in Finance from Miami University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.07 | 28.77 | 6.16 | 2.41 |
