Past performance is not a guarantee of future results. Composite results reflect the reinvestment of dividends, capital gains and other earnings when appropriate. Net returns are calculated by reducing the gross returns by the highest stated fee in the composite fee schedule. Only transaction costs are deducted from gross of fees returns. Prior to 30 September 2022, actual fees were used in calculating net returns. All net returns were changed retroactively to reflect the highest fee in the composite fee schedule. To view a GIPS Report for all composites, click here.
Calendar Year Returns1 (%)
Peer Group Quartile Rankings2 As of
30 Jun 2023
Diamond
Hill
Percentile |
17th 60th
|
Statistics
Portfolio Characteristics
As of
30 Jun 2023
Risk Statistics3 As of
30 Jun 2023
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Portfolio
Portfolio Guidelines
The portfolio generally invests at least 80% of its assets in a diversified portfolio of investment grade, fixed income securities and may invest a significant portion or all of its assets in mortgage-related and mortgage-backed securities. The portfolio will typically maintain an average portfolio duration within 20% of the duration of the Bloomberg US Intermediate Aggregate Bond Index.
Sector Allocation4 (%) As of
30 Jun 2023
Bloomberg US Intermediate Aggregate Bond Index
Duration Breakdown (%)As of
30 Jun 2023
|
Intermediate Bond Composite |
Bloomberg US Intermediate Aggregate Bond Index |
| Less than one |
12.3 |
1.4 |
| 1-3 |
23.2 |
28.9 |
| 3-5 |
30.9 |
29.3 |
| 5-7 |
21.6 |
28.7 |
| 7-10 |
10.3 |
11.7 |
| 10-20 |
1.8 |
0.0 |
| 20+ |
0.0 |
0.0 |
Credit Quality Rating5 (%) As of
30 Jun 2023
| AAA |
60.3 |
| AA |
5.4 |
| A |
13.4 |
| BBB |
16.7 |
| BB |
0.3 |
| B |
0.0 |
| CCC & Below |
0.0 |
| Not Rated |
3.9 |
Key Rate Duration (%) As of
30 Jun 2023
|
Intermediate Bond Composite |
Bloomberg US Intermediate Aggregate Bond Index |
| 1Y |
0.10 |
0.12 |
| 2Y |
0.19 |
0.29 |
| 3Y |
0.51 |
0.58 |
| 5Y |
1.47 |
1.56 |
| 10Y |
1.49 |
1.39 |
| 20Y |
0.32 |
0.40 |
| 30Y |
0.02 |
0.04 |
Disclosure
1 2021 returns represent the time period 31 Jul 2021 - 31 Dec 2021.
2 Source: eVestment. Ranking within eVestment US Intermediate Duration – Gov/Cred Fixed Income universe based on monthly returns gross of fees. Ranking data calculated on 19 July 2023 (as of 30 June 2023) and is subject to change as additional firms within the category submit data. Diamond Hill pays an annual fee to eVestment to access their platform and to use their data, including peer group rankings, in marketing materials. Diamond Hill does not pay for the ranking.
3 Relative to the Bloomberg US Intermediate Aggregate Bond Index.
4 Cash & Other may include cash and money market funds. RMBS: Residential Mortgage-Backed Securities, CMBS: Commercial Mortgage-Backed Securities.
5 Security quality ratings are derived from underlying portfolio securities by using the middle rating of Standard & Poor’s, Moody’s and Fitch. If only two of Standard & Poor’s, Moody’s and Fitch rates a security the higher of the two is selected. If only one of Standard & Poor’s, Moody’s and Fitch rates a security the available rating is used. For securities that are not rated by Standard & Poor’s, Moody’s or Fitch a rating from a secondary Nationally Recognized Statistical Rating Organization (“NRSRO”) may be used. Ratings by any agency represent an opinion only, not a recommendation to buy or sell. Securities that are not rated by any agencies are reflected as Not Rated “NR.”
Index data source: Bloomberg Index Services Limited. See diamond-hill.com/disclosures for a full copy of the disclaimer.
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