DHLX vs SEIV

DHLXCDiamond Hill Large Cap Concentrated ETF

SEIVASEI QiM U.S. Large Cap Value Active ETF

In short

DHLX Twenty-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.

SEIV Active quant value stock-picking at an index-fund price. SEIV screens U.S. large caps for cheap valuations plus quality, momentum and low volatility, then runs a concentrated book of roughly 80 names for 0.15% a year.

Stated mandate

DHLX 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.

SEIV The Fund seeks long-term capital appreciation through primarily U.S. common stocks priced below fundamental valuation measures, using a quantitative, active stock-selection approach.

Why people hold it

• DHLX A 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
• Runs 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
• At 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.
• Pays distributions quarterly, and the mandate is US equity only, so there is no currency layer or foreign withholding in the mix.

• SEIV 0.15% a year for genuine active selection, against a 0.55% median in its U.S. value peer group. It matches the cheapest large-value quant funds rather than charging active prices.
• Value is not the only screen. The model also weighs quality, momentum and low volatility, which is how a cheap-stock strategy tries to avoid the cheap-for-a-reason trap.
• Other funds measured against the S&P 500 in this cohort charge far more (LSVD 0.40%, GSPY 0.50%, VNSE 1.34%). SEIV runs its version at 0.15%.
• Sits among the strongest implementations in a crowded U.S. value field, and trades with enough regular activity to be workable for ordinary retail order sizes.

Worth knowing

• DHLX Systematic 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.
• Concentration cuts both ways. In a non-diversified book of 20 to 30 names, one company's stumble lands with real weight.diamond-hill.com
• Launched in September 2025, so the ETF's own record is short, the asset base is small and trading is moderate rather than deep.

• SEIV About 80 stocks measured against a 500-name benchmark. That concentration means stretches where it looks nothing like the S&P 500, in either direction.
• Launched in 2022, so the live record is short, and the asset base is mid-sized rather than among the giants of the value aisle.
• You get the factor recipe, not the trade-by-trade logic: selection sits inside a quantitative model. Distributions land quarterly, not monthly.

Full DHLX profile⁠

Full SEIV profile⁠