Friday, May 09, 2008

Fund Performance
Quarter-End Returns | Most-Recent Month-End Returns | Calendar Year Returns

Quarterly Guide

As of 3/31/2008 		Current Prices Period and Annualized Returns as of 3/31/2008 Total Expense Ratio
Price Daily % Chg. YTD Return 3 months 1 Year 3 Years 5 Years 10 Years
or Life
of Fund1
Small Cap Fund Profile (pdf)
Inception Date: 12/29/00
Class A NAV 23.40 -0.06% 3.86% -1.82% -5.04% 5.22% 19.47% 13.79% 1.38%
  POP 24.63 -0.09% -1.35% -6.75% -9.79% 3.44% 18.25% 12.98% 1.38%
Class C NAV 22.21 -0.07% 3.59% -2.05% -5.77% 4.42% 18.59% 12.92% 2.13%
  POP 22.21 -0.07% 2.59% -3.03% -6.65% 4.42% 18.59% 12.92% 2.13%
Class I NAV 23.47 -0.06% 3.99% -1.77% -4.71% 5.62% 19.75% 13.97% 1.01%
Benchmark: Russell 2000 Index -9.90% -13.00% 5.06% 14.90% 6.31% --
Small-Mid Cap Fund Profile (pdf)
Inception Date: 12/30/05
Class A NAV 10.95 -0.24% 4.29% -3.05% -4.72% -- -- 2.41% 1.33%
  POP 11.53 -0.27% -0.91% -7.87% -9.49% -- -- 0.08% 1.33%
Class C NAV 10.82 -0.25% 4.04% -3.27% -5.47% -- -- 1.66% 2.08%
  POP 10.82 -0.25% 3.04% -4.24% -6.39% -- -- 1.66% 2.08%
Class I NAV 10.97 -0.24% 4.48% -2.95% -4.34% -- -- 2.83% 0.96%
Benchmark: Russell 2500 Index -9.37% -11.27% -- -- 2.94% --
Large Cap Fund Profile (pdf)
Inception Date: 6/29/01
Class A NAV 16.13 -1.00% -0.74% -6.46% -1.75% 8.53% 17.19% 8.00% 1.17%
  POP 16.98 -1.04% -5.73% -11.16% -6.64% 6.69% 16.01% 8.00% 1.17%
Class C NAV 15.67 -1.01% -1.07% -6.69% -2.51% 7.72% 16.30% 7.14% 1.92%
  POP 15.67 -1.01% -2.06% -7.63% -3.43% 7.72% 16.30% 7.14% 1.92%
Class I NAV 16.19 -1.00% -0.61% -6.45% -1.42% 8.96% 17.47% 8.19% 0.80%
Benchmark: Russell 1000 Index -9.48% -5.40% 6.19% 11.86% 3.41% --
Select Fund Profile (pdf)
Inception Date: 12/30/05
Class A NAV 10.45 -0.85% -1.51% -7.54% -2.77% -- -- 4.76% 1.27%
  POP 11.00 -0.85% -6.45% -12.18% -7.63% -- -- 2.38% 1.27%
Class C NAV 10.37 -0.86% -1.80% -7.77% -3.53% -- -- 4.04% 2.02%
  POP 10.37 -0.86% -2.78% -8.69% -4.40% -- -- 4.04% 2.02%
Class I NAV 10.44 -0.85% -1.42% -7.55% -2.44% -- -- 5.11% 0.90%
Benchmark: Russell 3000 Index -9.52% -6.06% -- -- 4.36% --
Long-Short Fund Profile (pdf)
Inception Date: 6/30/00
Class A NAV 19.00 -0.84% 3.32% -0.54% 3.75% 10.92% 17.71% 9.59% 1.70%*
  POP 20.00 -0.84% -1.86% -5.53% -1.45% 9.03% 16.50% 8.86% 1.70%*
Class C NAV 18.18 -0.84% 3.00% -0.74% 2.98% 10.11% 16.83% 8.75% 2.45%*
  POP 18.18 -0.84% 2.00% -1.73% 1.99% 10.11% 16.83% 8.75% 2.45%*
Class I NAV 19.10 -0.83% 3.47% -0.43% 4.21% 11.40% 18.03% 9.78% 1.33%*
Benchmark: Russell 1000 Index -9.48% -5.40% 6.19% 11.86% 0.84% --
Benchmark: MorningStar™ Long-Short Category Average -0.33% 4.42% 6.18% 7.83% 5.15% --
Financial Long-Short Fund Profile (pdf)
Inception Date: 8/1/97
Class A NAV 14.86 -1.20% -8.27% -8.64% -22.70% -2.42% 8.44% 6.27% 1.81%*
  POP 15.64 -1.20% -12.84% -13.20% -26.57% -4.08% 7.33% 5.73% 1.81%*
Class C NAV 14.28 -1.20% -8.46% -8.78% -23.27% -3.14% 7.62% 5.55% 2.56%*
  POP 14.28 -1.20% -9.38% -9.69% -23.99% -3.14% 7.62% 5.55% 2.56%*
Class I NAV 14.86 -1.20% -23.41% -8.59% -22.40% -2.23% 8.56% 6.33% 1.44%*
Benchmark: S&P 1500 SuperComposite Financials Index -13.03% -26.99% -1.29% 6.88% 2.42% --
Strategic Income Fund Profile (pdf)
Inception Date: 9/30/02
Class A NAV 10.50 -0.07% 2.75% -0.15% -7.57% 2.34% 5.87% 7.06% 1.06%
  POP 10.88 -0.10% -0.87% -3.67% -10.78% 1.12% 5.13% 6.38% 1.06%
Class C NAV 10.49 -0.07% 2.40% -0.43% -8.29% 1.54% 5.06% 6.36% 1.81%
  POP 10.49 -0.07% 1.40% -1.41% -9.15% 1.54% 5.06% 6.36% 1.81%
Class I NAV 10.48 -0.07% 2.79% -0.15% -7.28% 2.75% 6.13% 7.30% 0.69%
Benchmark: Merrill Lynch Domestic Master Index 2.50% 8.22% 5.68% 4.71% 4.84% --

The performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The Funds' current performance may be lower or higher than the performance data quoted.

Performance is not guaranteed. Performance returns assume reinvestment of all distributions. Periods greater than 1 year are annualized. The total return figures for the Fund reflect the maximum sales charge applicable to each class. Class I and Class C shares include performance based on Class A shares, which was achieved prior to the creation of Class I and Class C shares. Class C returns have been restated for sales charges and for fees applicable to Class C Shares, which includes a 1.00% 12b-1 fee. These total return figures may reflect the waiver of a portion of a Fund's advisory or administrative fees for certain periods. In such instances, and without such waiver of fees, the total returns would have been lower. Investors should consider the investment objectives, risks, and charges and expenses of the Diamond Hill Funds carefully before investing; this and other information about the Funds is in the prospectus, which can be obtained by calling 888-226-5595 or at www.diamond-hill.com. Read the prospectus carefully before you invest.

* The Long-Short Fund and the Financial Long-Short Fund use short selling which incurs significant additional risk. Theoretically, stocks sold short have the risk of unlimited losses. The Total Expense Ratio includes dividend expense relating to short sales. If dividend expenses relating to short sales were excluded, the Total Expense Ratio for the Long-Short Fund would have been 1.49% for Class A, 2.24% for Class C, and 1.12% for Class I and for the Financial Long-Short Fund would have been 1.58% for Class A, 2.33% for Class C, and 1.21% for Class I.

1For Funds with a performance record ten (10) years or greater, the performance number represents “Ten Years”; otherwise, for Fund’s with a performance record less than ten (10) years, the performance number represents “Life of Fund”.