ETF Evaluator: Diamond Hill Large Cap Concentrated ETF () Follow This ETF

Diamond Hill Large Cap Concentrated ETF Overview

Diamond Hill Large Cap Concentrated ETF (DHLX) is an actively managed U.S. Equity Large Value exchange-traded fund (ETF). Diamond Hill Funds launched the ETF in 2021.

The investment seeks to provide long-term capital appreciation. The fund, under normal market conditions, invests at least 80% of its net assets in U.S. equity securities with large market capitalizations ('large cap") that the Adviser believes are undervalued. Equity securities consist of common and preferred stocks. The Adviser may sell a security as it reaches the Adviser's estimate of the company's value if the adviser believes that the company's earnings, revenue growth, operating margin or other economic factors are deteriorating or if it identifies a stock that the advisor believes offers a better investment opportunity. It is non-diversified.

About Diamond Hill Large Cap Concentrated ETF (DHLX)

There are 2 members of the management team with an average tenure of 0.08 years: Nate Palmer (2026) and Chuck Bath (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 1000 Value TR USD index with a weighting of 100%. Diamond Hill Large Cap Concentrated ETF has 21 securities in its portfolio. The top 10 holdings constitute 59.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Diamond Hill Large Cap Concentrated ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Diamond Hill Large Cap Concentrated ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.9% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Diamond Hill Large Cap Concentrated ETF has 1.1% of the portfolio in cash.

Assets Under Management

The fund has $72 million in total assets, which is below the $5 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

DHLX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Diamond Hill Large Cap Concentrated ETF expense ratio is average compared to funds in the Large Value category. Diamond Hill Large Cap Concentrated ETF has an expense ratio of 0.55%, which is 47% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Diamond Hill Large Cap Concentrated ETF has a portfolio turnover rate of 56%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 40% for the Large Value category.

Recently, in the month of July 2026, Diamond Hill Large Cap Concentrated ETF returned 5.6%, which earned it a grade of A, as the Large Value category had an average return of 2.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Diamond Hill Large Cap Concentrated ETF has a trailing yield of 1.61%, which is below the 1.70% category average. The fund normally distributes its income quarterly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Diamond Hill Large Cap Concentrated ETF Grades

Year to date, the ETF has returned 3.8%, 10.6 percentage points worse than the category, which translates into a grade of F. The fund has returned 6.6% over the past year (grade of F), 11.1% over the past three years (grade of F) and 7.6% per year over the past five years (grade of F).

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