DHLSX Fees and Costs — Diamond Hill Long-Short Fund, Class I
Data updated: 2026-08-31
The net expense ratio is 1.41%: a 0.90% management fee plus 0.50% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $648K in broker commissions, 0.0326% of average net assets, and portfolio turnover was 67%.
DHLSX Fees and Expenses
Annual operating expenses and sales charges of DHLSX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.50% |
| Gross expense ratio | 1.41% |
| Fee waiver | — |
| Net expense ratio | 1.41% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
DHLSX Costs Over Time
On $10,000 invested in DHLSX, assuming 5% a year before costs, total costs come to $894 over 5 years, cutting the return by 1.51% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.41%) | $148 | $460 | $794 |
| Trading costs (broker commissions) | $3 | $11 | $18 |
| Lost growth on money paid in costs | $0 | $23 | $82 |
| Total costs | $151 | $494 | $894 |
| Value after costs | $10,349 | $11,082 | $11,868 |
| Impact on return, per year | 1.51% | 1.51% | 1.51% |
DHLSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0326%
- Total broker commissions: $648K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 67%
- Securities on loan, average value: $358.4M
- Net income from securities lending: $423K (0.021% of average net assets)
DHLSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $145K | 26.34% |
| GOLDMAN, SACHS & CO. | $113K | 20.50% |
| PIPER SANDLER & CO | $111K | 20.28% |
| J P MORGAN SECURITIES LLC | $42K | 7.59% |
| COWEN AND COMPANY LLC | $40K | 7.23% |
| BOFA SECURITIES, INC. | $30K | 5.42% |
| THEMIS TRADING LLC | $20K | 3.69% |
| MORGAN STANLEY & CO LLC | $20K | 3.63% |
| CITIGROUP GLOBAL MARKETS, INC | $15K | 2.69% |
| RBC CAPITAL MARKETS LLC | $14K | 2.63% |
Diamond Hill Long-Short Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DIAYX | Class Y | 1.28% | — |
| DHLSX | Class I | 1.41% | — |
| DIAMX | Investor Class | 1.70% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.