Fund Evaluator:
Diamond Hill Core Bond Y (DHRYX)
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Fund Details
Diamond Hill Core Bond Y Overview
Diamond Hill Core Bond Y (DHRYX) is an actively managed Taxable Bond Intermediate Core Bond fund. Diamond Hill Funds launched the fund in 2016.
The investment seeks to maximize total return consistent with the preservation of capital. The Advisor intends to provide total return by investing at least 80% of its net assets at the time of purchase in a diversified portfolio of investment grade, fixed income securities, including bonds, debt securities and other similar U.S. dollar-denominated instruments issued by various U.S. public- or private-sector entities, by non-U.S. corporations or U.S. affiliates of non-U.S. corporations, including those in emerging markets.
About Diamond Hill Core Bond Y (DHRYX)
There are 2 members of the management team with an average tenure of 10.08 years: Henry Song (2016), Mark Jackson (2016). 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 Bond Y has 1087 securities in its portfolio. The top 10 holdings constitute 16.6% 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 Bond Y is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Diamond Hill Core Bond Y has 1.1% 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 98.6% (97.6% domestic bond, 1.1% foreign bond and 0.0% convertible bond). Diamond Hill Core Bond Y has 1.4% of the portfolio in cash.
Assets Under Management
The fund has $720 million in total assets, which is below the $3 billion average for the Intermediate Core 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.
DHRYX 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 Bond Y expense ratio is below average compared to funds in the Intermediate Core Bond category. Diamond Hill Core Bond Y has an expense ratio of 0.35%, which is 38% 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 Bond Y has a portfolio turnover rate of 18%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 151% for the Intermediate Core Bond category.
Recently, in the month of July 2026, Diamond Hill Core Bond Y returned -1.1%, which earned it a grade of A, as the Intermediate Core Bond category had an average return of -1.3%. 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 Bond Y has a trailing yield of 5.05%, which is above the 4.04% category average. The fund normally distributes its income monthly.
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 Bond Y Grades
Year to date, the fund has returned -0.0%, 0.7 percentage points better than the category, which translates into a grade of A. The fund has returned 3.1% over the past year (grade of A), 4.8% over the past three years (grade of A) and 0.7% per year over the past five years (grade of A) and 2.3% per year over the past 10 years (grade of A).
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DHRYX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DHRYX Return (NAV) | -1.1% | -0.5% | 3.1% | 4.8% | 0.7% | 2.3% |
| DHRYX Grade | A | A | A | A | A | A |
| +/- Category | 0.2% | 0.3% | 0.5% | 1.1% | 1.2% | 0.9% |
| Intermediate Core Bond Avg | -1.3% | -0.8% | 2.5% | 3.7% | -0.5% | 1.4% |
| DHRYX Tax Cost Ratio | na | na | 2.0% | 2.0% | 1.7% | 1.4% |
DHRYX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DHRYX Return (NAV) | -0.0% | 7.4% | 3.5% | 6.6% | -11.6% | -1.0% | 8.0% | 8.1% | 1.7% | 4.2% | na |
| DHRYX Grade | A | B | A | A | A | B | C | D | A | A | na |
| +/- Category | 0.7% | 0.4% | 2.0% | 1.0% | 1.5% | 0.5% | -0.0% | -0.3% | 2.1% | 0.6% | na |
| Intermediate Core Bond Avg | -0.7% | 7.0% | 1.6% | 5.6% | -13.2% | -1.5% | 8.1% | 8.5% | -0.4% | 3.6% | 2.8% |
| Risk Measures | |
| Standard Deviation: | 5.4% |
| Total Risk Index: | 0.44 - Low |
| Category Risk Index: | 0.96 - Low |
| Category Risk Grade: | A (13% Rank) |
| Beta: | 0.95 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 5.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $3204 Mil |
| Fund Total Assets: | $ 721 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 18% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 10.1 years | |||
| Average Tenure: 10.1 years | |||
| Managers (Year): Song Henry (2016), Jackson Mark (2016) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 1087 |
| % in Top 10 Holdings: | 16.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.1% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 97.6% |
| Foreign Bond: | 1.1% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.4% |
Purchase Information
| Fund Family: | Diamond Hill Funds |
| Phone Number: | 888-226-5595 |
| Website: | www.diamond-hill.com |
| Status: | Open |
| Inception Date: | July 5, 2016 |
| Min. Initial Purchase: | $500,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.35% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.57% |
| Share Class: | Diamond Hill Core Bond Y |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
