Diamond Hill Capital Management begun trading the Diamond Hill Valuation-Weighted 500 ETF (NYSE Arca: DHVW) on Tuesday, May 12, 2015. Here is a synopsis of the new ETF:
FUND INFORMATION:
| Symbol: DHVW | Exchange: NYSE Arca |
| Name: Diamond Hill Valuation-Weighted 500 ETF | Net Expense Ratio: 0.35% |
FUND OBJECTIVE:
The Diamond Hill Valuation-Weighted 500 ETF seeks to track the price and total return performance, before fees and expenses, of the Diamond Hill Valuation-Weighted 500 index.
REFERENCE INDEX:
The Diamond Hill Valuation-Weighted 500 Index is composed of the common stock of approximately 500 U.S.-listed companies weighted based on a proprietary, patent-pending valuation methodology developed by Diamond Hill Capital Management, Inc. (Investment Adviser).
The Index was established by Diamond Hill in 2013 and is constructed using an objective, rules-based methodology that begins with an initial universe of the 700 largest U.S.-listed companies based on market capitalization. The initial universe is then narrowed to the 500 companies with the largest intrinsic value capitalization as alculated by Diamond Hill’s proprietary valuation methodology, which estimates the projected earnings power and future cash flows of each business. Each remaining company is then weighted based on its calculated intrinsic value relative to the total calculated intrinsic value of companies in the Index.
The Index is reconstituted and rebalanced quarterly.
Index Top Consituents (05/14/15):
| APPLE INC | 4.4% |
| MICROSOFT CORP | 1.9% |
| GOOGLE INC | 1.8% |
| WELLS FARGO & CO NEW | 1.6% |
| JPMORGAN CHASE & CO. | 1.5% |
| GENERAL ELECTRIC CO | 1.5% |
| GILEAD SCIENCES INC | 1.4% |
| FACEBOOK INC | 1.3% |
| JOHNSON & JOHNSON | 1.2% |
| WAL-MART STORES INC | 1.2% |
Useful Links:
DHVW Home Page
ETFtrack Comment:
Diamond Hill Capital Management is an independent investment management firm with significant employee ownership and $16.4 billion in assets under management (as of April 30, 2015). The firm provides investment management services to institutions and individuals through mutual funds, institutional separate accounts, ETFs, and private investment funds. Diamond Hill Capital Management is a subsidiary of Diamond Hill Investment Group, Inc. (NASDAQ: DHIL).