Diamond Hill Securitized Total Return Fund Q4 2025 Commentary

Diamond Hill Capital Management42 FollowersFollow5ShareSavePlay(7min)CommentsSummaryThe Diamond Hill Securitized Total Return Fund returned 1.07% during Q4, trailing the Bloomberg US Securitized: MBS, ABS and CMBS Index by 61 bps.Spreads in the securitized market followed a similar trajectory of other asset classes – tightening from 2024 until the volatility around Liberation Day, then resuming their grind tighter into year end.The portfolio's lack of exposure to agency CMBS detracted from relative performance as the benchmark allocation delivered strong performance during Q4. Guido Mieth/DigitalVision via Getty Images Market review and outlook The Bloomberg US Securitized: MBS, ABS and CMBS Index returned 1.68% during Q4, bringing year-to-date performance for the index to 8.49%, the best annual performance for the index since 2002. After lowering the Fed funds rateThis article was written byDiamond Hill Capital Management42 FollowersFollowDiamond Hill Capital Management, Inc. is a wholly owned subsidiary of Diamond Hill Investment Group, Inc.

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