Our fixed income portfolio managers discuss performance and market themes from the fourth quarter, as well as their market outlook for 2019.

Short Duration Total Return Fund

Core Bond Fund

Corporate Credit Fund

High Yield Fund

Insights

The Evolution of the Asset-Backed Securities Market
Fixed Income Insights
The asset-backed securities (ABS) market has grown exponentially since its introduction in the mid-1980s. Read more to learn about new and innovative segments within the market, the growth of the asset class, and the diversification benefits the ABS market can provide to your clients.

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Debunking the High Yield Index and High Yield ETFs
Investment Letter
The debate between active and passive management that has reverberated for years in equity markets is now shifting to fixed income. We believe it is critical for investors to understand the intricacies of passive management in high yield fixed income.

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Diamond Hill’s Corporate Bond Investment Philosophy, Process and Structural Advantages
Investment Letter
At Diamond Hill, our mission is to serve our clients by providing lasting value through a shared commitment to our intrinsic value-based investment philosophy, disciplined approach and alignment with our clients’ interests. To this end, we have carefully designed structural advantages that are unique and that should give us an edge over our peers.

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The value of fixed-income securities varies inversely with interest rates; as interest rates rise, the market value of fixed-income securities will decline. Lower quality debt (ie: “High Yield”) securities involve greater risk of default or price changes due to potential changes in the issuer’s credit quality. The value of investments in mortgage-related and asset-backed securities will be influenced by the factors affecting the housing market and the assets underlying such securities. The securities may decline in value, face valuation difficulties, become more volatile and/or become illiquid. They are also subject to prepayment risk, which occurs when mortgage holders refinance or otherwise repay their loans sooner than expected, creating an early return of principal to holders of the loans.

An investor should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus or summary prospectus contain this and other important information about the Fund(s) and are available at diamond-hill.com or by calling 888.226.5595. Please read the prospectus or summary prospectus carefully before investing. The Diamond Hill Funds are distributed by Foreside Financial Services, LLC (Member FINRA). Diamond Hill Capital Management, Inc., a registered investment adviser, serves as investment adviser to the Diamond Hill Funds and is paid a fee for its services. Diamond Hill Funds are not FDIC insured, may lose value, and have no bank guarantee.

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