DHLX vs DVAL
Diamond Hill Large Cap Concentrated ETF vs BrandywineGLOBAL-Dynamic US Large Cap Value ETF
Which is better, DHLX or DVAL?
DVAL has been ahead.
DVAL has a lower expense ratio. DVAL led over 1Y and the full window. DHLX is less concentrated, with 59.4% of the fund in its ten largest positions against 59.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DHLX | DVAL |
|---|---|---|
| Expense Ratio | 0.55% | 0.49%Best |
| AUM | $69M | $60M |
| Dividend Yield | 0.89% | 5.15% |
| Holdings | 44 | 133 |
| Volatility (annualized) | 12.5% | 9.8%Best |
| Max Drawdown | -8.4% | -6.2%Best |
| $10,000 over 1.1 years | $10,770 | $11,441Best |
| Top 10 Weight | 59.4%Best | 59.6% |
| Fund Family | Diamond Hill Capital Management Inc. | Franklin Templeton Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Feb 26, 2021 | Dec 27, 2006 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 15 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. DHLX has data through Nov 11, 2026 and DVAL through Oct 27, 2026.
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Sep 29, 2025 to Oct 27, 2026 (1.1 years).
Risk: Volatility and Drawdowns
DHLX has been the more volatile fund, with annualized monthly volatility of 12.5% compared with 9.8% for DVAL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -8.4% for DHLX and -6.2% for DVAL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DHLX charges 0.55% per year while DVAL charges 0.49%. On a $10,000 position that is $55 vs $49 annually, a gap of $6 per year that compounds over a long holding period. On income, DHLX currently yields 0.89% against 5.15% for DVAL.
Holdings Overlap
29.2% of DHLX's money is in holdings DVAL also owns. 26.2% of DVAL's money is in holdings DHLX also owns.
DHLX and DVAL share little of their money.
6 positions in common, counted across the 22 positions we hold weights for in DHLX and 32 in DVAL, against full books of 44 and 133.
What only one of them owns
Our book lists 25 positions for DVAL that do not appear in our book for DHLX (70.9% of the fund), and 16 for DHLX that do not appear in DVAL (70.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
29.2% of DHLX is already inside DVAL.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DHLX or DVAL?
DHLX has an expense ratio of 0.55% while DVAL charges 0.49%. DVAL is the cheaper option, by $6 a year on a $10,000 investment.
Which is riskier, DHLX or DVAL?
DHLX has been the more volatile fund at 12.5% annualized versus 9.8% for DVAL. Worst drawdown: DHLX -8.4% vs DVAL -6.2%.
Should I hold both DHLX and DVAL?
DHLX and DVAL have a monthly-return correlation of 0.80, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between DHLX and DVAL?
29.2% of DHLX's money is in holdings DVAL also owns. 26.2% of DVAL's is in holdings DHLX also owns. They hold 6 positions in common, counted across the 22 positions we hold weights for in DHLX and 32 in DVAL.
Which pays a higher dividend, DHLX or DVAL?
DHLX yields 0.89% while DVAL yields 5.15%, so DVAL currently pays the higher dividend yield.
Is DVAL better than DHLX?
DVAL has a lower expense ratio. DVAL led over 1Y and the full window. DHLX is less concentrated, with 59.4% of the fund in its ten largest positions against 59.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.