Period And Average Annual Total Returns
as of October 31, 2018

  PERIOD AND AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2018 AS OF 11/12/2018
Since Inception (12/31/2013) 3‑YR 1‑YR 3MO. Oct. NAV YTD RETURN TOTAL EXP. RATIO
Returns At Nav (Without Sales Charge)
Class A (DHGBX)
5.26% 8.18% -2.18% -8.86% -7.88% -5.72% 1.21%
Class I (DHGIX)
5.57 8.50 -1.90 -8.78 -7.86 -5.43 0.92
Class Y (DHGYX)
5.68 8.61 -1.81 -8.77 -7.86 -5.36 0.8
Benchmark
Morningstar Global Markets Index
5.687.72-0.83-6.65-7.73
Returns At Pop (With Sales Charge)
Class A (DHGBX)
4.14 6.36 -7.05 -13.40 -12.46 -10.44 1.21

Standardized Returns (Average Annual Total Returns as of September 30, 2018 )

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, 2018

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

  2014 2015 2016 2017
Class I (DHGIX)
2.74% -5.51% 10.39% 29.64%
Morningstar Global Markets Index
4.00 -2.04 8.22 23.87

FEES AND EXPENSES

CLASS A CLASS I CLASS Y
Ticker
DHGBX DHGIX DHGYX
CUSIP
25264S486 25264S478 25264S460
Minimum Initial Investment
$2,500 $2,500 $500,000
Maximum Front-End Sales Charge
5.00% None None
Management Fee
0.70% 0.70% 0.70%
Distribution Fee (12b-1)
0.25% None None
Other Expenses
0.26% 0.22% 0.10%
Expense Ratio
1.21% 0.92% 0.80%

Risk Disclosure: Overall equity market risks may affect the value of all funds. The Small Cap Fund, Small-Mid Cap Fund, Mid Cap Fund, All Cap Select Fund, Global Fund, Financial Long-Short Fund, and Research Opportunities Fund invest in small and medium capitalization stocks; there are special risks associated with small and medium capitalization issues such as market illiquidity and greater market volatility than large capitalization issues. The All Cap Select Fund expects to hold a concentrated portfolio of a limited number of securities; because of this a decline in the value of these investments would cause the Fund’s overall value to decline to a greater degree than a less concentrated portfolio. The Long-Short Fund, Financial Long-Short Fund, and Research Opportunities Fund use short selling which incurs significant additional risk. Theoretically, stocks sold short have unlimited risk. The Global Fund, Financial Long-Short Fund, and Research Opportunities Fund invest in non-U.S. securities. Investing in non-U.S. securities may entail risk due to foreign economic and political developments; this risk may be higher when investing in emerging markets. Changes in currency exchange rates and differences in accounting and taxation policies outside the U.S. can raise or lower returns.

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 shown "With Sales Charge" reflect the maximum sales charge applicable to each class. Class C, I and Y shares include performance based on Class A shares for the Small Cap Fund, Small-Mid Cap Fund, Large Cap Fund, All Cap Select Fund, Long-Short Fund, Financial Long-Short Fund, and Corporate Credit Fund which was achieved prior to the creation of Class C, 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 return would have been lower.

The maximum sales charge for A shares of the Small Cap, Small-Mid Cap, Mid Cap, Large Cap, All Cap Select, Global, Long-Short, Financial Long-Short, and Research Opportunities Fund is 5.00%, the maximum sales charge for A shares of the Short Duration Total Return Fund is 2.25%, the maximum sales charge for A shares of the Core Bond, Corporate Credit, and High Yield Fund is 3.50%; C shares have a maximum contingent deferred sales charge (CDSC) of 1.00% for redemptions within the first year of purchase; I shares and Y shares have no sales charge.

The Russell unmanaged market capitalization-weighted equity indices seek to benchmark the entire U.S. stock market. The Russell 3000 measures the performance of the 3,000 largest U.S. companies by total market capitalization. The Russell 1000 Index is comprised of the largest 1,000 companies by market capitalization in the Russell 3000 Index. The Russell 2000 Index represents the next 2,000 companies by market capitalization in the Russell 3000 Index. The Russell 2500 Index is comprised of the smallest 2,500 companies by market capitalization in the Russell 3000 Index. The Russell Midcap Index represents the 800 smallest companies in the Russell 1000 Index. The Long-Short Fund blended index represents a 60% weighting of the Russell 1000 Index and a 40% weighting of the ICE BofAML U.S. T-Bill 0-3 Month Index. The Financial Long-Short Fund blended index benchmark represents a 80% weighting of the Russell 3000 Financials Index and a 20% weighting of the ICE BofAML U.S. T-Bill 0-3 Month Index. The Research Opportunities Fund blended index represents a 75% weighting of the Russell 3000 Index and a 25% weighting of the ICE BofAML U.S. T-Bill 0-3 Month Index. The ICE BofAML U.S. T-Bill 0-3 Month Index is comprised of U.S. dollar denominated U.S. Treasury Bills with a term to maturity of less than 3 months. The Russell 3000 Financials Index consists of Russell 3000 companies involved in banking, mortgage finance, consumer finance, specialized finance, investment banking and brokerage, asset management and custody, corporate lending, insurance, financial investments, and real estate, including REITs. The Morningstar Global Markets Index is an unmanaged, float market capitalization weighted index of more than 7,000 securities that is designed to cover 97% of the equity market capitalization of developed and emerging markets. These indices do not incur fees and expenses (which would lower the return) and are not available for direct investment.

The Long-Short Fund was long-only from inception through June 2002.

The Financial Long-Short Fund was long-only from inception through April 2006.

The quoted performance for the Global Fund reflects the past performance of Diamond Hill Global Fund L.P. (the “Global Partnership”), a private fund managed with full investment authority by the fund’s Adviser. The Fund is managed in all material respects in a manner equivalent to the management of the predecessor unregistered fund. The assets of the Global Partnership were converted into assets of the fund prior to commencement of operation of the fund. The performance of the Global Partnership has been restated to reflect the net expenses and maximum applicable sales charge of the fund for its initial years of investment operations. The Global Partnership was not registered under the Investment Company Act of 1940 and therefore was not subject to certain investment restrictions imposed by the 1940 Act. If the Global Partnership had been registered under the 1940 Act, its performance may have been adversely affected. Performance is measured from December 31, 2013, the inception of the Global Partnership and is not the performance of the fund. The assets of the Global Partnership were converted, based on their value on January 2, 2018, into assets of the fund. The Global Partnership’s past performance is not necessarily an indication of how the fund will perform in the future either before or after taxes.

The quoted performance for the Research Opportunities Fund reflects the past performance of Diamond Hill Research Partners, L.P. (the "Research Partnership"), a private fund managed with full investment authority by the fund’s Adviser. The Fund is managed in all material respects in a manner equivalent to the management of the predecessor unregistered fund. The assets of the Research Partnership were converted into assets of the fund prior to commencement of operation of the fund. The performance of the Research Partnership has been restated to reflect the net expenses and maximum applicable sales charge of the fund for its initial years of investment operations. The Research Partnership was not registered under the Investment Company Act of 1940 and therefore was not subject to certain investment restrictions imposed by the 1940 Act. If the Research Partnership had been registered under the 1940 Act, its performance may have been adversely affected. Performance is measured from March 31, 2009, the inception of the Research Partnership and is not the performance of the fund. The assets of the Research Partnership were converted, based on their value on December 30, 2011, into assets of the fund prior to commencement of operations of the fund. The Research Partnership’s past performance is not necessarily an indication of how the fund will perform in the future either before or after taxes.

Source ICE Data Indices, LLC (“ICE Data”), is used with permission. ICE Data, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE Data, its affiliates or their respective third party providers shall not be subject to any damages or liability with respect to the adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an “as is” basis and your use is at your own risk. ICE Data, its affiliates and their respective third party suppliers do not sponsor, endorse, or recommend Diamond Hill Capital Management, Inc., or any of its products or services.

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.

© 2018 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 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.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by S&P Global Market Intelligence LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. "CUSIP" is a registered trademark of the American Bankers Association.
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