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DHLX

GradeCNew York Stock Exchange Arca

Diamond Hill Large Cap Concentrated ETF

Active Equity · Diamond Hill · Inception 2021-02-26

$13.44−0.04 (−0.27%)

As of Sep 23, 2026, 3:08 PM EDT

History starts Sep 29, 2025.History starts Sep 29, 2025.
Intraday session: down, 21 prints from 13.48 to 13.44. Range 13.44 to 13.50. Use the arrow keys to read each point.$13.46$13.48$13.5010 AM12 PM2 PM4 PM
Expense ratio
0.55%
Fund size
$70M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$13.58
52W range
low $12.54high $14.04

The ETF.net DHLX Grade

C

42/ 100

Rank 40 of 66 in US Active Value⁠

Confidence Medium

Six-pillar profile for DHLX. Scores out of 100: Cost 47, Risk 37, Mission not scored, Tradability 50, Holdings 30, Durability 29. Strongest: Tradability (50). Weakest: Durability (29). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 42 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 47
    Category rank34/66 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 37
    Category rank47/62 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 50
    Category rank33/66 · top 50%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 30
    Category rank59/66 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 29
    Category rank58/66 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on DHLX

ETF.net Research

CTwenty-ish US large caps, picked one at a time. Diamond Hill's ETF runs a concentrated value book measured against the Russell 1000 Value Index, which means it deliberately looks nothing like that index.

Stated mandate

The ETF seeks long-term capital appreciation. Under normal conditions, it invests at least 80% of net assets in U.S. equity securities of large-cap companies the adviser believes are undervalued, in a concentrated portfolio of approximately 20–30 securities.

Why people hold it

  1. 01A genuinely concentrated book: roughly 20 to 30 US large caps the adviser judges undervalued, with at least 80% of assets in that mandate. No closet indexing here.diamond-hill.com
  2. 02Runs Diamond Hill's house intrinsic-value process: model years of a business's future cash flows, estimate what it is worth, then buy at a discount to that number.jpmorgan.comsec.gov
  3. 03At 0.55% a year it undercuts several active rivals benchmarked to the same index (BUSA, OAKM, PZLV) and sits at the median for its active value cohort.
  4. 04Pays distributions quarterly, and the mandate is US equity only, so there is no currency layer or foreign withholding in the mix.

Worth knowing

  1. 01Systematic value peers cost a fraction of this: AVLV 0.15%, DFLV 0.21%, WTV 0.12%. The stock picking has to carry that fee gap.
  2. 02Concentration cuts both ways. In a non-diversified book of 20 to 30 names, one company's stumble lands with real weight.diamond-hill.com
  3. 03Launched in September 2025, so the ETF's own record is short, the asset base is small and trading is moderate rather than deep.

DHLX Holdings

As of Sep 20, 2026, 10:16 AM
Asset class
Stocks
Holdings
—
Top-10 weight
59%
Largest holding
MSFT8.0%

Geography

  • United States95.85%
  • Ireland4.15%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001MSFTMICROSOFT CORP8.05%11,340$6M792
002COPCONOCOPHILLIPS7.26%38,318$5M425
003BRK-BBERKSHIRE HATH-B6.87%9,376$5M359
004AMZNAMAZON.COM INC6.49%17,804$5M720
005TMOTHERMO FISHER5.63%6,012$4M369
006METAMETA PLATFORMS-A5.29%5,528$4M683
007LHLABCORP HOLDINGS5.27%11,435$4M276
008TXNTEXAS INSTRUMENT4.74%12,360$3M497
009JPMJPMORGAN CHASE4.72%9,390$3M478
010GOOGLALPHABET INC-A4.56%9,083$3M704
011UNPUNION PAC CORP4.54%11,314$3M401
012WMWASTE MANAGEMENT4.40%14,493$3M321
013VVISA INC-CLASS A4.20%7,936$3M550
014AONAON PLC-CLASS A4.15%9,774$3M280
015SYYSYSCO CORP4.05%35,683$3M324

Showing 1–15 of 23 holdings

DHLX Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

DHLX$10,223
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. DHLX $10,223. SPY $11,430. Use the arrow keys to read each point.$9,119$10,381$11,642Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DHLX. Periods over one year show the average yearly return.
PeriodDHLX
Year to date+2.2%
1 month−2.9%
3 months+4.3%
1 yearHistory unavailable—
3 yearsHistory unavailable—per year
5 yearsHistory unavailable—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DHLX
YearReturn barDHLX
2026 YTD+2.2%
2025+1.2%

History from Sep 29, 2025

DHLX in the news

ETF.net Research hasn’t filed on DHLX yet — coverage lands here as it’s written.

DHLX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.03 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 3 payments from 2025 to 2026 YTD. Dec 30, 2025 $0.02; Mar 30, 2026 $0.03; Jun 29, 2026 $0.03. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Jun 29, 2026Jul 2, 2026$0.03
Mar 30, 2026Apr 2, 2026$0.03
Dec 30, 2025Jan 5, 2026$0.02

DHLX Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
No data available
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
No data available
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.68
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

DHLX Cost

Expense ratio0.55%
  • The middle half of US Active Value funds
  • Median 0.55%

32 of the 66 US Active Value funds charge less.

DHLX costs $55.00 a year on $10,000. The median US Active Value fund costs $55.00.