Fund Evaluator:
Diamond Hill Core Bond Inv (DHRAX)
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Fund Details
Diamond Hill Core Bond Inv Overview
Diamond Hill Core Bond Inv (DHRAX) 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 Inv (DHRAX)
There are 2 members of the management team with an average tenure of 9.99 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 Inv has 1093 securities in its portfolio. The top 10 holdings constitute 16.7% 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 Inv is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Diamond Hill Core Bond Inv 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 98.5% (97.4% domestic bond, 1.1% foreign bond and 0.0% convertible bond). Diamond Hill Core Bond Inv has 1.5% of the portfolio in cash.
Assets Under Management
The fund has $6 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.
DHRAX 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 Inv expense ratio is above average compared to funds in the Intermediate Core Bond category. Diamond Hill Core Bond Inv has an expense ratio of 0.77%, which is 35% 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 Core Bond Inv 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 150% for the Intermediate Core Bond category.
Recently, in the month of June 2026, Diamond Hill Core Bond Inv returned 0.3%, which earned it a grade of B, as the Intermediate Core Bond category had an average return of 0.2%. 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 Inv has a trailing yield of 4.45%, which is above the 3.97% 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 Inv Grades
Year to date, the fund has returned 0.9%, 0.3 percentage points better than the category, which translates into a grade of A. The fund has returned 3.7% over the past year (grade of C), 4.8% over the past three years (grade of A) and 0.8% per year over the past five years (grade of A).
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DHRAX 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 |
|
| DHRAX Return (NAV) | 0.3% | 0.7% | 3.7% | 4.8% | 0.8% | na |
| DHRAX Grade | B | B | C | A | A | na |
| +/- Category | 0.0% | 0.0% | 0.0% | 0.7% | 0.8% | na |
| Intermediate Core Bond Avg | 0.2% | 0.7% | 3.7% | 4.2% | -0.0% | 1.6% |
| DHRAX Tax Cost Ratio | na | na | 1.8% | 1.8% | 1.5% | na |
DHRAX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DHRAX Return (NAV) | 0.9% | 7.0% | 3.2% | 6.2% | -12.0% | -1.2% | 7.6% | 7.6% | 1.3% | 3.9% | na |
| DHRAX Grade | A | D | A | A | A | B | D | F | A | B | na |
| +/- Category | 0.3% | -0.1% | 1.6% | 0.6% | 1.1% | 0.2% | -0.5% | -0.8% | 1.7% | 0.3% | na |
| Intermediate Core Bond Avg | 0.6% | 7.0% | 1.6% | 5.6% | -13.2% | -1.5% | 8.1% | 8.5% | -0.4% | 3.6% | 2.8% |
| Risk Measures | |
| Standard Deviation: | 5.3% |
| Total Risk Index: | 0.44 - Low |
| Category Risk Index: | 0.97 - Low |
| Category Risk Grade: | A (15% Rank) |
| Beta: | 0.96 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 4.5% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $3247 Mil |
| Fund Total Assets: | $ 6 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 18% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 10.0 years | |||
| Average Tenure: 10.0 years | |||
| Managers (Year): Song Henry (2016), Jackson Mark (2016) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 1093 |
| % in Top 10 Holdings: | 16.7% |
| 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: | 97.4% |
| Foreign Bond: | 1.1% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.5% |
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: | $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 (%): | 0.77% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.57% |
| Share Class: | Diamond Hill Core Bond Y |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
