Fund Evaluator:
Diamond Hill Large Cap Inv (DHLAX)
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Best Performing in Large Value Over the Last Year
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Fund Details
Diamond Hill Large Cap Inv Overview
Diamond Hill Large Cap Inv (DHLAX) is an actively managed U.S. Equity Large Value fund. Diamond Hill Funds launched the fund in 2001.
The investment seeks to provide long-term capital appreciation. The fund normally invests at least 80% of its net assets in U.S. equity securities with large market capitalizations that the Adviser believes are undervalued. Large cap companies are defined as companies with market capitalizations at the time of purchase of $5 billion or greater, or in the range of those market capitalizations of companies included in the Russell 1000 Index at the time of purchase. The Adviser focuses on estimating a company's value independent of its current stock price.
About Diamond Hill Large Cap Inv (DHLAX)
There are 2 members of the management team with an average tenure of 0.00 years: Nate Palmer (2026), Chuck Bath (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund 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 Inv has 49 securities in its portfolio. The top 10 holdings constitute 37.1% 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 Large Cap Inv is part of the Equity global asset class and is within the U.S. Equity fund group. Diamond Hill Large Cap Inv has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 100.0%. 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 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Diamond Hill Large Cap Inv has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $204 million in total assets, which is below the $1 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.
DHLAX 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 Inv expense ratio is high compared to funds in the Large Value category. Diamond Hill Large Cap Inv has an expense ratio of 0.98%, which is 6% 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 Inv has a portfolio turnover rate of 45%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of June 2026, Diamond Hill Large Cap Inv returned 0.5%, which earned it a grade of D, as the Large Value category had an average return of 1.6%. 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 Large Cap Inv has a trailing yield of 0.19%, which is below the 1.25% category average. The fund normally distributes its income annually 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 Large Cap Inv Grades
Year to date, the fund has returned 0.7%, 10.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 1.9% over the past year (grade of F), 8.6% over the past three years (grade of F) and 4.8% per year over the past five years (grade of F) and 9.7% per year over the past 10 years (grade of F).
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DHLAX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DHLAX Return (NAV) | 0.5% | 3.3% | 1.9% | 8.6% | 4.8% | 9.7% |
| DHLAX Grade | D | F | F | F | F | F |
| +/- Category | -1.1% | -6.5% | -19.1% | -7.4% | -5.6% | -1.6% |
| Large Value Avg | 1.6% | 9.8% | 21.0% | 15.9% | 10.4% | 11.3% |
| DHLAX Tax Cost Ratio | na | na | 1.4% | 1.5% | 1.6% | 1.4% |
DHLAX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DHLAX Return (NAV) | 0.7% | 5.3% | 11.8% | 13.3% | -13.7% | 25.4% | 8.7% | 31.8% | -9.9% | 19.9% | 14.3% |
| DHLAX Grade | F | F | D | B | F | C | A | A | D | A | C |
| +/- Category | -10.4% | -9.8% | -2.3% | 1.5% | -7.6% | -0.4% | 4.8% | 6.2% | -1.4% | 3.5% | -0.3% |
| Large Value Avg | 11.1% | 15.2% | 14.1% | 11.8% | -6.1% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.5% |
| Risk Measures | |
| Standard Deviation: | 12.9% |
| Total Risk Index: | 1.06 - Above Average |
| Category Risk Index: | 1.07 - High |
| Category Risk Grade: | F (85% Rank) |
| Beta: | 0.72 |
| R-Squared: | 54% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $2882 Mil |
| Fund Total Assets: | $ 205 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 45% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.0 years | |||
| Average Tenure: 0.0 years | |||
| Managers (Year): Palmer Nate (2026), Bath Chuck (2026) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 49 |
| % in Top 10 Holdings: | 37.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 100.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Fund Family: | Diamond Hill Funds |
| Phone Number: | 888-226-5595 |
| Website: | www.diamond-hill.com |
| Status: | Open |
| Inception Date: | June 29, 2001 |
| Min. Initial Purchase: | $2,500 |
| 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: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.98% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Diamond Hill Large Cap Inv |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
