Period And Average Annual Total Returns
as of October 31, 2017

  PERIOD AND AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2017 AS OF 11/22/2017
Since Inception (9/30/2002) 10‑YR 5‑YR 3‑YR 1‑YR 3MO. Oct. NAV YTD RETURN TOTAL EXP. RATIO
Returns At Nav (Without Sales Charge)
Class A (DSIAX)
7.02% 6.13% 5.54% 6.38% 7.56% 1.13% 0.35% 6.64% 0.95%
Class C (DSICX)
6.27 5.34 4.74 5.58 6.76 0.92 0.29 5.98 1.7
Class I (DHSTX)
7.31 6.46 5.81 6.68 7.89 1.19 0.38 6.91 0.65
Class Y (DSIYX)
7.18 6.36 5.95 6.77 8.01 1.13 0.39 7.00 0.55
Benchmark
ICE BofAML U.S. Corporate & High Yield Index
6.295.983.894.114.521.060.40
Returns At Pop (With Sales Charge)
Class A (DSIAX)
6.77 5.75 4.79 5.13 3.84 -2.38 -3.13 2.94 0.95
Class C (DSICX)
6.27 5.34 4.74 5.58 5.76 -0.08 -0.71 4.98 1.7

Standardized Returns (Average Annual Total Returns as of September 30, 2017 )

Performance is not guaranteed. 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 Fund’s current performance may be lower or higher than the performance data quoted. Investors may obtain performance information current to the most recent month-end, within 7 business days, at diamond-hill.com.

Growth of $10,000 Since Inception1
as of September 30, 2017

1 The chart represents a comparison of a hypothetical $10,000 investment and the reinvestment of dividends and capital gains in the stated share class versus the benchmark(s). The performance of the share class is adjusted for the maximum applicable sales charge and the deduction of fees and expenses and is before taxes. The Index is unmanaged and does not incur fees.

Calendar Year Returns

  2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Class I (DHSTX)
-4.31% -14.55% 32.69% 13.77% 5.53% 9.83% 5.30% 2.38% 1.49% 12.21%
ICE BofAML U.S. Corporate & High Yield Index
4.09 -10.93 26.00 10.76 6.80 11.37 0.34 6.43 -1.37 7.97

FEES AND EXPENSES

CLASS A CLASS C CLASS I CLASS Y
Ticker
DSIAX DSICX DHSTX DSIYX
CUSIP
25264S882 25264S874 25264S866 25264S643
Minimum Initial Investment
$2,500 $2,500 $2,500 $500,000
Maximum Front-End Sales Charge
3.50% None None None
Contingent Deferred Sales Charge
None 1.00% None None
Management Fee
0.45% 0.45% 0.45% 0.45%
Distribution Fee (12b-1)
0.25% 1.00% None None
Other Expenses
0.25% 0.25% 0.20% 0.10%
Gross Expense Ratio
0.95% 1.70% 0.65% 0.55%
Net Expense Ratio2
0.94% 1.69% 0.64% 0.54%

2 The Fund may invest in another Diamond Hill Fund. Diamond Hill Capital Management, Inc. is required to permanently waive a portion of its management fee in the pro-rata amount of the management fee charged by the underlying Diamond Hill Fund.

Risk Disclosure: The Corporate Credit Fund and the High Yield Fund invest in fixed income securities; the value of fixed-income securities varies inversely with interest rates; that is, as interest rates rise, the market value of fixed-income securities will decline. Lower quality debt (i.e.: “High Yield”) securities involve greater risk of default or price changes due to potential changes in the issuer’s credit quality.

Performance is not guaranteed. 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 Fund’s current performance may be lower or higher than the performance data quoted. Investors may obtain performance information current to the most recent month-end, within 7 business days, at diamond-hill.com.

Performance returns assume reinvestment of all distributions. Returns for the periods less than one year are not annualized. The total return figures for the Fund reflect the maximum sales charge applicable to each class. Class I and Y shares include performance based on Class A shares for the Corporate Credit Fund which was achieved prior the creation of Class I and Y shares. 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. The maximum sales charge for A shares is 3.50%; C shares have a maximum contingent deferred sales charge (CDSC) of 1.00% (Corporate Credit Fund only) for redemptions within the first year of purchase; I shares and Y shares have no sales charge.

The ICE BofAML U.S. Corporate & High Yield Index is comprised of U.S. dollar denominated investment grade and below investment grade corporate debt publicly issued in the U.S. domestic market. The ICE BofAML U.S. High Yield Index tracks the performance of the U.S. dollar denominated below investment grade corporate debt publicly issued in the U.S. domestic market. These indices do not incur fees and expenses (which would lower the return) and are not available for direct investment.

The Overall Morningstar Rating™ is based on 601 high yield bond funds as of 9/30/17. The Fund’s Class I rating was 5 stars among 601, 4 stars among 485, and 4 stars among 319 high yield bond funds for the 3-, 5-, and 10-year periods ended 9/30/17, respectively.

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

The Morningstar Broad Fee Level data point compares the fund's net expense ratio to the net expense ratio of all the other funds within its Morningstar Category.

© 2017 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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 BHIL Distributors, 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.

back to top