DHPAX Fees and Costs — Diamond Hill Mid Cap Fund, Investor Class
Data updated: 2026-08-31
The net expense ratio is 1.09%: a 0.60% management fee, a 0.25% 12b-1 fee plus 0.24% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $33K in broker commissions, 0.0308% of average net assets, and portfolio turnover was 33%.
DHPAX Fees and Expenses
Annual operating expenses and sales charges of DHPAX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.24% |
| Gross expense ratio | 1.09% |
| Fee waiver | — |
| Net expense ratio | 1.09% |
| 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 |
DHPAX Costs Over Time
On $10,000 invested in DHPAX, assuming 5% a year before costs, total costs come to $699 over 5 years, cutting the return by 1.18% 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 1.09%) | $114 | $357 | $618 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $118 | $385 | $699 |
| Value after costs | $10,382 | $11,191 | $12,063 |
| Impact on return, per year | 1.18% | 1.18% | 1.18% |
DHPAX 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): 0.0308%
- Total broker commissions: $33K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 33%
- Securities on loan, average value: $4.5M
- Net income from securities lending: $8K (0.008% of average net assets)
DHPAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PIPER SANDLER & CO | $16K | 53.39% |
| JEFFERIES LLC | $4K | 12.15% |
| GOLDMAN, SACHS & CO | $2K | 6.03% |
| COWEN AND COMPANY LLC | $2K | 5.60% |
| MORGAN STANLEY & CO LLC | $2K | 5.59% |
| THEMIS TRADING LLC | $2K | 5.19% |
| J.P. MORGAN SECURITIES LLC | $1K | 3.79% |
| BTIG LLC | $871 | 2.98% |
| BIDS TRADING L P | $813 | 2.78% |
| UBS FINANCIAL SERVICES, INC. | $725 | 2.48% |
Diamond Hill Mid Cap Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DHPYX | Class Y | 0.67% | — |
| DHPIX | Class I | 0.80% | — |
| DHPAX | Investor Class | 1.09% | — |
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.