Tearsheet

DHT (DHT)


Market Price (12/29/2025): $12.41 | Market Cap: $2.0 Bil
Sector: Energy | Industry: Oil & Gas Storage & Transportation

DHT (DHT)


Market Price (12/29/2025): $12.41
Market Cap: $2.0 Bil
Sector: Energy
Industry: Oil & Gas Storage & Transportation

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, Dividend Yield is 6.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 12%, FCF Yield is 7.7%
Weak multi-year price returns
2Y Excs Rtn is -8.0%, 3Y Excs Rtn is -7.7%
Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -17%, Rev Chg QQuarterly Revenue Change % is -24%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 55%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31%
  Key risks
DHT key risks include [1] volatile charter rates impacting revenue and profitability, Show more.
2 Low stock price volatility
Vol 12M is 34%
  
3 Megatrend and thematic drivers
Megatrends include Global Energy & Raw Materials Transportation. Themes include Crude Oil Tanker Operations, International Maritime Freight, and Energy Supply Chain Resilience.
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, Dividend Yield is 6.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 12%, FCF Yield is 7.7%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 55%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31%
2 Low stock price volatility
Vol 12M is 34%
3 Megatrend and thematic drivers
Megatrends include Global Energy & Raw Materials Transportation. Themes include Crude Oil Tanker Operations, International Maritime Freight, and Energy Supply Chain Resilience.
4 Weak multi-year price returns
2Y Excs Rtn is -8.0%, 3Y Excs Rtn is -7.7%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -17%, Rev Chg QQuarterly Revenue Change % is -24%
6 Key risks
DHT key risks include [1] volatile charter rates impacting revenue and profitability, Show more.

Valuation, Metrics & Events

DHT Stock


Why The Stock Moved


Qualitative Assessment

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It is not possible to determine the exact reasons for a 5.7% stock movement for DHT (symbol: DHT) during the approximate future time period from August 31, 2025, to December 29, 2025, as real-time market data for future dates is not available. However, based on analyst forecasts and reported activities within the simulated current time of December 29, 2025, several factors could influence DHT's stock performance.

1. Analyst Ratings and Price Targets. As of late December 2025, financial analysts have a "Strong Buy" or "Moderate Buy" consensus rating for DHT, with an average price target indicating potential upside from its current price. For instance, a consensus price target of $15.67 suggests a forecasted upside of 28.15% from a current price around $12.23. These ratings and price targets, updated regularly, can influence investor sentiment and lead to stock movement.

2. Quarterly Earnings Reports and Outlook. DHT Holdings reported its Q3 2025 earnings on October 30, 2025, with a slight miss in EPS and revenue compared to analyst forecasts. Despite the miss, the company expressed optimism with a strong outlook for Q4 2025, securing favorable time charter and spot rates. Positive guidance and strong market conditions in the VLCC (Very Large Crude Carrier) market can contribute to stock appreciation.

Show more

Stock Movement Drivers

Fundamental Drivers

The 0.6% change in DHT stock from 9/28/2025 to 12/28/2025 was primarily driven by a 12.6% change in the company's Net Income Margin (%).
928202512282025Change
Stock Price ($)12.1412.220.62%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)520.39485.63-6.68%
Net Income Margin (%)36.58%41.18%12.56%
P/E Multiple10.259.83-4.12%
Shares Outstanding (Mil)160.66160.80-0.09%
Cumulative Contribution0.62%

LTM = Last Twelve Months as of date shown

Market Drivers

9/28/2025 to 12/28/2025
ReturnCorrelation
DHT0.6% 
Market (SPY)4.3%8.8%
Sector (XLE)-3.9%26.4%

Fundamental Drivers

The 14.7% change in DHT stock from 6/29/2025 to 12/28/2025 was primarily driven by a 25.3% change in the company's Net Income Margin (%).
629202512282025Change
Stock Price ($)10.6612.2214.66%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)543.31485.63-10.62%
Net Income Margin (%)32.87%41.18%25.25%
P/E Multiple9.589.832.61%
Shares Outstanding (Mil)160.50160.80-0.19%
Cumulative Contribution14.66%

LTM = Last Twelve Months as of date shown

Market Drivers

6/29/2025 to 12/28/2025
ReturnCorrelation
DHT14.7% 
Market (SPY)12.6%5.6%
Sector (XLE)4.5%21.7%

Fundamental Drivers

The 40.9% change in DHT stock from 12/28/2024 to 12/28/2025 was primarily driven by a 48.6% change in the company's Net Income Margin (%).
1228202412282025Change
Stock Price ($)8.6712.2240.91%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)583.76485.63-16.81%
Net Income Margin (%)27.72%41.18%48.55%
P/E Multiple8.659.8313.55%
Shares Outstanding (Mil)161.46160.800.41%
Cumulative Contribution40.91%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2024 to 12/28/2025
ReturnCorrelation
DHT40.9% 
Market (SPY)17.0%21.6%
Sector (XLE)7.1%34.9%

Fundamental Drivers

The 80.9% change in DHT stock from 12/29/2022 to 12/28/2025 was primarily driven by a 36.1% change in the company's P/S Multiple.
1229202212282025Change
Stock Price ($)6.7512.2280.93%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)370.09485.6331.22%
P/S Multiple2.974.0536.13%
Shares Outstanding (Mil)162.87160.801.27%
Cumulative Contribution80.90%

LTM = Last Twelve Months as of date shown

Market Drivers

12/29/2023 to 12/28/2025
ReturnCorrelation
DHT45.2% 
Market (SPY)48.4%20.1%
Sector (XLE)11.6%33.9%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
DHT Return-21%1%74%24%4%39%150%
Peers Return16%38%-12%21%26%16%150%
S&P 500 Return16%27%-19%24%23%18%114%

Monthly Win Rates [3]
DHT Win Rate50%50%58%42%42%67% 
Peers Win Rate52%65%42%68%57%52% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
DHT Max Drawdown-37%-0%-8%-8%-1%0% 
Peers Max Drawdown-34%-5%-26%-7%-9%-23% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique KeyEventDHTS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-36.3%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven56.9%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven338 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-42.8%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven74.9%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven921 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-35.1%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven54.1%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven213 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-79.8%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven395.4%131.3%
2008 Global Financial CrisisTime to BreakevenTime to BreakevenNot Fully Recovered days1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

DHT's stock fell -36.3% during the 2022 Inflation Shock from a high on 3/3/2023. A -36.3% loss requires a 56.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About DHT (DHT)

DHT Holdings, Inc., through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. As of March 17, 2022, it had a fleet of 26 very large crude carriers with a capacity of 8,043,657 deadweight tons. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.

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  • Maersk for crude oil.
  • A global oil pipeline, but with ships instead of pipes.
  • Like a major airline, but for crude oil tankers.

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  • Crude Oil Transportation: DHT Holdings provides maritime shipping services for the global transportation of crude oil using its fleet of crude oil tankers.

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DHT Holdings, Inc. (symbol: DHT) sells its services primarily to other companies (Business-to-Business, or B2B). The company owns and operates a fleet of crude oil tankers, which it charters out to various entities in the global oil industry.

While DHT serves a diverse global customer base, it does not consistently disclose the specific names of its individual major customers in its public filings (such as its 10-K reports). For example, although a single customer may occasionally account for over 10% of DHT's total revenues in a given year, their specific identity is typically not publicly named.

However, DHT consistently describes its customer base as comprising the following categories of companies:

  • Major oil companies
  • National oil companies
  • Crude oil trading and shipping companies

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Svein Moxnes Harfjeld, President & Chief Executive Officer

Mr. Harfjeld has over 30 years of experience in the global shipping industry. He joined DHT as President & CEO on September 1, 2010. Prior to DHT, he held senior management positions at the BW Group, including Group Executive Director, CEO of BW Offshore, Director of Bergesen dy, and Director of World-Wide Shipping. His previous experience also includes senior management roles at Andhika Maritime, Coeclerici, and Mitsui O.S.K., and he began his shipping career with The Torvald Klaveness Group.

Laila C. Halvorsen, Chief Financial Officer

Ms. Halvorsen joined DHT in 2014 and was appointed Chief Financial Officer in 2018. She possesses over 20 years of experience in international accounting and shipping. Before joining DHT, she spent 17 years at Western Bulk AS, where she served as an Accountant, Finance Manager, and later as Group Accounting Manager.

J. Stephen Eglin, Director of Chartering & Operations

Svenn Magne Edvardsen, Technical Director

Mr. Edvardsen joined DHT in 2010 and has 30 years of experience in the shipping industry.

Erik A. Lind, Class III Director and Chairman

Mr. Lind's professional background, dating back to 1980, spans corporate banking, structured finance, and investment & asset management, with a primary focus on the maritime shipping sector. He served as Chief Executive Officer of Oceanic Finance Group Limited (formerly Tufton Oceanic Finance Group Limited) from 2004 until April 2022. His past roles also include Managing Director of GATX Capital and Executive Vice President at IM Skaugen ASA, along with senior and executive positions at Manufacturers Hanover Trust Company and Oslobanken.

AI Analysis | Feedback

The key risks to DHT Holdings, Inc.'s business are primarily linked to the highly cyclical and competitive nature of the crude oil tanker industry and the broader energy market dynamics.

  1. Volatility of the Crude Oil Tanker Market and Freight Rates: DHT Holdings operates in a market highly sensitive to global oil demand, geopolitical events, and the supply of tankers, all of which directly influence spot and time charter rates. This inherent volatility can lead to significant fluctuations in the company's revenue, profitability, and dividend distributions. The industry's cyclicality has historically resulted in highly volatile earnings per share for DHT.

  2. Intense Industry Competition: The crude oil tanker industry is characterized by significant competition. DHT faces rivals that may possess larger fleets or lower operating costs, which could exert downward pressure on charter rates and ultimately diminish DHT's profitability.

  3. Regulatory Changes and the Global Energy Transition: The company faces risks from rising regulatory hurdles and the long-term global shift towards renewable energy sources. These factors could potentially constrain DHT's growth prospects and challenge its long-term revenue streams as demand for crude oil transportation evolves.

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The accelerating global energy transition and associated decarbonization mandates pose a clear emerging threat to DHT. As the world aims to reduce reliance on fossil fuels, the long-term demand for crude oil transportation, which is DHT's core business, is expected to decline. Concurrently, increasingly stringent environmental regulations (such as the IMO's Energy Efficiency Existing Ship Index (EEXI) and Carbon Intensity Indicator (CII), and the EU Emission Trading System (ETS) for shipping) necessitate significant investments in fleet modernization, adoption of alternative fuels, or potential operational slowdowns for existing vessels. This structural shift threatens to diminish the long-term value and competitiveness of DHT's conventional tanker fleet, potentially leading to reduced charter rates, increased operational costs, and impaired asset utility over time.

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DHT Holdings, Inc. (symbol: DHT) operates primarily in the crude oil tanker industry, specializing in the ownership and operation of Very Large Crude Carriers (VLCCs) for the global transportation of crude oil.

The addressable market for DHT's main services is the global crude oil carriers market.

The global Crude Oil Carriers Market was valued at approximately USD 263.73 billion in 2024. This market is projected to grow to USD 391.72 billion by 2035, with a Compound Annual Growth Rate (CAGR) of 3.66% from 2025 to 2035. Another estimate indicates the global Crude Oil Carriers Market was valued at USD 257.37 billion in 2024 and is expected to reach nearly USD 357.68 billion by 2032, with a CAGR of 4.2% from 2025 to 2032. The Very Large Crude Carriers (VLCC) segment led the crude oil carriers market in 2024.

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Here are 3-5 expected drivers of future revenue growth for DHT Holdings (symbol: DHT) over the next 2-3 years:

  1. Fleet Expansion with New VLCCs: DHT is poised for significant revenue growth with the delivery of four new Very Large Crude Carriers (VLCCs) scheduled for the first half of 2026. These newbuilds, including DHT Addax, DHT Antelope, DHT Gazelle, and DHT Impala, are among the largest in the fleet by deadweight tonnage (DWT) and are expected to enhance the company's carrying capacity and revenue-generating potential.
  2. Leveraging Strong VLCC Spot Market Rates: A substantial portion of DHT's fleet (approximately 50%) operates on spot rates, allowing the company to directly capitalize on the currently surging and anticipated to remain robust VLCC spot market. As existing time charters expire over the next 6 months to a year, DHT is well-positioned to re-charter these vessels at higher prevailing rates, significantly boosting its top line.
  3. Favorable VLCC Market Fundamentals: The demand for VLCCs is expected to remain strong due to several market factors. These include sustained global crude oil demand, increased oil stockpiling, and higher crude oil imports from China. Furthermore, geopolitical tensions are creating strong tailwinds for charter rates and profitability. The supply side is also favorable, characterized by a rapidly aging global tanker fleet and a low order book for new vessels, which is expected to lead to a tighter vessel supply and higher rates.
  4. Young and Efficient Fleet: DHT's strategy of maintaining a young and modern fleet through the acquisition of high-specification VLCCs, some equipped with exhaust gas cleaning systems, and the strategic sale of older vessels, enhances operational efficiency and competitiveness. A younger, more efficient fleet typically incurs lower operating expenses and can command premium charter rates, contributing to stronger revenue generation.

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Share Repurchases

  • In December 2024, DHT purchased 1,481,383 of its own shares in the open market for approximately $13.17 million.
  • Share buybacks are a component of the company's disciplined capital allocation strategy.

Share Issuance

  • The number of common shares outstanding increased from 159,983,104 as of December 31, 2024, to 160,799,407 as of June 30, 2025.

Inbound Investments

  • In October 2024, Scorpio Tankers acquired a 4.9% stake in DHT for $89.1 million, at a purchase price of $11.17 per share.

Capital Expenditures

  • DHT secured a $308.4 million senior secured credit facility in July 2025 for the post-delivery financing of four newbuilding vessels, which are scheduled for delivery in the first half of 2026.
  • In the third quarter of 2025, the company invested $26.2 million in its newbuilding program and made a $10.7 million deposit for the acquisition of DHT Nokota.
  • During the second quarter of 2025, DHT invested $38.7 million in vessels under construction and $1.1 million in other vessel investments, and also acquired a modern 2018-built vessel for $107 million.

Better Bets than DHT (DHT)

Trade Ideas

Select ideas related to DHT. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
WHD_11212025_Dip_Buyer_ValueBuy11212025WHDCactusDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
12.1%12.1%0.0%
OVV_10172025_Dip_Buyer_FCFYield10172025OVVOvintivDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
6.4%6.4%0.0%
COP_10102025_Dip_Buyer_FCFYield10102025COPConocoPhillipsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
5.4%5.4%-2.3%
HAL_10102025_Dip_Buyer_FCFYield10102025HALHalliburtonDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
28.1%28.1%-0.7%
OXY_10102025_Dip_Buyer_FCFYield10102025OXYOccidental PetroleumDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-4.9%-4.9%-7.1%

Recent Active Movers

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Peer Comparisons for DHT

Peers to compare with:

Financials

DHTHPQHPEIBMCSCOAAPLMedian
NameDHT HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Price12.2223.2624.49305.0978.16273.4051.32
Mkt Cap2.021.932.6284.9309.24,074.4158.8
Rev LTM48655,29534,29665,40257,696408,62556,496
Op Inc LTM1373,6241,64411,54412,991130,2147,584
FCF LTM1522,80062711,85412,73396,1847,327
FCF 3Y Avg1712,9781,40011,75313,879100,5037,366
CFO LTM2693,6972,91913,48313,744108,5658,590
CFO 3Y Avg2813,6723,89613,49814,736111,5598,697

Growth & Margins

DHTHPQHPEIBMCSCOAAPLMedian
NameDHT HP Hewlett .Internat.Cisco Sy.Apple  
Rev Chg LTM-16.8%3.2%13.8%4.5%8.9%6.0%5.2%
Rev Chg 3Y Avg13.7%-3.9%6.5%2.6%3.7%1.8%3.2%
Rev Chg Q-24.5%4.2%14.4%9.1%7.5%9.6%8.3%
QoQ Delta Rev Chg LTM-6.7%1.1%3.7%2.1%1.8%2.1%2.0%
Op Mgn LTM28.1%6.6%4.8%17.7%22.5%31.9%20.1%
Op Mgn 3Y Avg32.8%7.4%7.2%16.4%24.2%30.8%20.3%
QoQ Delta Op Mgn LTM-0.1%-0.2%-1.4%0.6%0.4%0.1%-0.0%
CFO/Rev LTM55.5%6.7%8.5%20.6%23.8%26.6%22.2%
CFO/Rev 3Y Avg51.3%6.8%12.7%21.4%26.1%28.4%23.8%
FCF/Rev LTM31.3%5.1%1.8%18.1%22.1%23.5%20.1%
FCF/Rev 3Y Avg31.1%5.5%4.6%18.6%24.6%25.6%21.6%

Valuation

DHTHPQHPEIBMCSCOAAPLMedian
NameDHT HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Cap2.021.932.6284.9309.24,074.4158.8
P/S4.00.41.04.45.410.04.2
P/EBIT9.06.819.925.122.531.321.2
P/E9.88.6572.736.029.941.033.0
P/CFO7.35.911.221.122.537.516.2
Total Yield16.6%14.1%2.3%5.0%5.4%2.8%5.2%
Dividend Yield6.4%2.5%2.1%2.2%2.1%0.4%2.1%
FCF Yield 3Y Avg9.6%10.6%5.5%6.4%6.0%3.1%6.2%
D/E0.10.50.70.20.10.00.2
Net D/E0.10.30.60.20.00.00.1

Returns

DHTHPQHPEIBMCSCOAAPLMedian
NameDHT HP Hewlett .Internat.Cisco Sy.Apple  
1M Rtn-6.2%-3.6%12.7%-1.1%1.6%-2.0%-1.5%
3M Rtn0.6%-11.9%2.7%7.9%17.0%7.1%4.9%
6M Rtn14.7%-4.0%34.5%6.6%15.2%36.3%14.9%
12M Rtn40.9%-27.0%16.2%40.5%34.5%7.5%25.3%
3Y Rtn80.9%-3.7%67.3%141.3%79.6%114.1%80.3%
1M Excs Rtn-8.6%-5.6%12.9%-2.2%-0.0%-3.7%-3.0%
3M Excs Rtn-3.7%-16.2%-1.7%3.6%12.7%2.8%0.6%
6M Excs Rtn2.4%-16.3%22.3%-5.7%3.0%24.0%2.7%
12M Excs Rtn24.3%-42.9%-0.7%25.0%19.9%-8.4%9.6%
3Y Excs Rtn-7.7%-83.5%-11.2%59.6%-1.2%28.4%-4.4%

Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Single Segment561    
Other revenues 40  
Time charter revenues 7614118357
Voyage charter revenues 375155508478
Total561454296691535


Price Behavior

Price Behavior
Market Price$12.22 
Market Cap ($ Bil)2.0 
First Trading Date10/13/2005 
Distance from 52W High-11.0% 
   50 Days200 Days
DMA Price$12.79$11.39
DMA Trendupup
Distance from DMA-4.4%7.3%
 3M1YR
Volatility25.4%34.0%
Downside Capture12.95-6.73
Upside Capture13.2628.19
Correlation (SPY)7.6%21.9%
DHT Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta-0.040.270.26-0.120.380.49
Up Beta-1.20-0.680.120.050.440.42
Down Beta0.430.750.730.120.660.59
Up Capture23%68%39%0%24%22%
Bmk +ve Days12253873141426
Stock +ve Days9223158125370
Down Capture13%5%-21%-71%-7%70%
Bmk -ve Days7162452107323
Stock -ve Days7162862118366

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of DHT With Other Asset Classes (Last 1Y)
 DHTSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return45.5%8.6%17.8%72.1%8.6%4.4%-8.2%
Annualized Volatility34.0%24.4%19.4%19.3%15.2%17.0%35.0%
Sharpe Ratio1.140.290.722.700.340.09-0.08
Correlation With Other Assets 35.0%22.2%12.1%32.0%11.3%8.9%

ETFs used for asset classes: Sector ETF = XLE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
 Comparison of DHT With Other Asset Classes (Last 5Y)
 DHTSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return25.2%21.8%14.7%18.7%11.5%4.6%30.8%
Annualized Volatility38.3%26.7%17.1%15.5%18.7%18.9%48.6%
Sharpe Ratio0.690.750.700.970.500.160.57
Correlation With Other Assets 36.4%23.6%9.1%28.7%14.0%10.3%

ETFs used for asset classes: Sector ETF = XLE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of DHT With Other Asset Classes (Last 10Y)
 DHTSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return13.3%8.2%14.8%15.3%7.0%5.3%69.2%
Annualized Volatility41.9%29.8%18.0%14.7%17.6%20.8%55.8%
Sharpe Ratio0.440.330.710.860.320.220.90
Correlation With Other Assets 32.1%27.1%3.8%26.6%18.5%6.2%

ETFs used for asset classes: Sector ETF = XLE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity3,457,385
Short Interest: % Change Since 1130202553.7%
Average Daily Volume1,581,559
Days-to-Cover Short Interest2.19
Basic Shares Quantity160,799,407
Short % of Basic Shares2.2%

SEC Filings

Expand for More
Report DateFiling DateFiling
9302025102920256-K 9/30/2025
630202580720256-K 6/30/2025
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