Fund Evaluator:

Diamond Hill Core Plus Bond Y Overview

Diamond Hill Core Plus Bond Y (DHNYX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. Diamond Hill Funds launched the fund in 2024.

The investment seeks to maximize total return consistent with the preservation of capital. Under normal market conditions, the Advisor intends to provide total return by investing at least 80% of its net assets (plus any amounts borrowed for investment purposes) in a diversified portfolio of fixed income securities, including bonds, debt securities, bank loans and other similar U.S. dollar-denominated instruments issued by various U.S. public- or private-sector entities, or by non-U.S. corporations or U.S. affiliates of non-U.S. corporations, including those in emerging markets.

About Diamond Hill Core Plus Bond Y (DHNYX)

There are 3 members of the management team with an average tenure of 1.71 years: Mark Jackson (2024), Henry Song (2024), Arthur Cheng (2024). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Diamond Hill Core Plus Bond Y has 465 securities in its portfolio. The top 10 holdings constitute 19.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Diamond Hill Core Plus Bond Y is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Diamond Hill Core Plus Bond Y has 1.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. 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 97.0% (95.4% domestic bond, 1.7% foreign bond and 0.1% convertible bond). Diamond Hill Core Plus Bond Y has 2.9% of the portfolio in cash.

Assets Under Management

The fund has $39 million in total assets, which is below the $1 billion average for the Intermediate Core-Plus Bond 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.

DHNYX 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 Core Plus Bond Y expense ratio is average compared to funds in the Intermediate Core-Plus Bond category. Diamond Hill Core Plus Bond Y has an expense ratio of 0.45%, which is 43% lower than its category average, making the fund expense ratio grade a B. 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 Core Plus Bond Y has a portfolio turnover rate of 50%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 180% for the Intermediate Core-Plus Bond category.

Recently, in the month of June 2026, Diamond Hill Core Plus Bond Y returned 0.3%, which earned it a grade of B, as the Intermediate Core-Plus Bond category had an average return of 0.3%. 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 funds in that category.

Diamond Hill Core Plus Bond Y has a trailing yield of 4.92%, which is above the 4.29% category average. The fund normally distributes its income monthly and its capital gains annually.

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 Core Plus Bond Y Grades

Year to date, the fund has returned 1.3%, 0.6 percentage points better than the category, which translates into a grade of A. The fund has returned 5.0% over the past year (grade of A).

Additional Fund Information

Diamond Hill Core Plus Bond Y is open to new investors. Diamond Hill Core Plus Bond Y is part of the Inst share class. The minimum initial purchase is $500,000 if purchased directly from Diamond Hill Funds.

The fund has a maximum front-end load of 0.00% and maximum deferred sales charge of 0.00%.

Redemption fees are paid to the fund for selling your shares or switching funds and often are reduced or eliminated over time. Diamond Hill Core Plus Bond Y has a maximum redemption charge of 0.00%.

Diamond Hill Core Plus Bond Y does not have a 12b-1 fee. This fee is paid out of assets to cover the costs of marketing and selling fund shares as well as to cover the costs of providing shareholder services. The 12b-1 fee is reflected in the expense ratio.

The fund meets the classification of being considered a True No-Load fund.

Diamond Hill Core Plus Bond Y Risk

A basic investment concept is that risk should be rewarded. Standard deviation measures the degree of variation in return experienced relative to the average return for a fund. It notes the recent volatility of the fund but does not explain the elements impacting the volatility. For example, portfolio concentration or exposure to foreign investments can impact the volatility and should be examined to gain an understanding of the fund.

The total risk index relates the volatility of the fund to the volatility of all funds. It can help you understand the volatility of a fund across all categories. Ratios above 1.00 indicate higher risk than average. A total risk index cannot be currently calculated for Diamond Hill Core Plus Bond Y.

The category risk index relates the volatility of a fund to the average volatility for funds in the same investment category. A category risk index cannot be currently calculated for Diamond Hill Core Plus Bond Y.