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<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel"/>
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_ck0001032423_C000108468Member_3bf714e6-e2d1-4282-843b-7e2a3ddd189c_terseLabel_en-US" xlink:label="lab_ck0001032423_C000108468Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class Y</link:label>
    <link:label id="lab_ck0001032423_C000108468Member_label_en-US" xlink:label="lab_ck0001032423_C000108468Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Select Fund Class Y</link:label>
    <link:label id="lab_ck0001032423_C000108468Member_documentation_en-US" xlink:label="lab_ck0001032423_C000108468Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Select Fund Class Y</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000108468Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000108468Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000108468Member" xlink:to="lab_ck0001032423_C000108468Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_ManagementRiskMember_157bc7ed-aaaa-4ddc-a20e-fefea42a596e_terseLabel_en-US" xlink:label="lab_ck0001032423_ManagementRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management Risk Member</link:label>
    <link:label id="lab_ck0001032423_ManagementRiskMember_label_en-US" xlink:label="lab_ck0001032423_ManagementRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Risk Member</link:label>
    <link:label id="lab_ck0001032423_ManagementRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_ManagementRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_ManagementRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_ManagementRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_ManagementRiskMember" xlink:to="lab_ck0001032423_ManagementRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_GovernmentSecuritiesRiskMember_ae24283f-0fad-445f-983c-272e444a334e_terseLabel_en-US" xlink:label="lab_ck0001032423_GovernmentSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Government Securities Risk Member</link:label>
    <link:label id="lab_ck0001032423_GovernmentSecuritiesRiskMember_label_en-US" xlink:label="lab_ck0001032423_GovernmentSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Government Securities Risk Member</link:label>
    <link:label id="lab_ck0001032423_GovernmentSecuritiesRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_GovernmentSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Government Securities Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_GovernmentSecuritiesRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_GovernmentSecuritiesRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_GovernmentSecuritiesRiskMember" xlink:to="lab_ck0001032423_GovernmentSecuritiesRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AverageAnnualReturnCaption_ba5c695c-9387-4a24-96e8-3923ed0ebb1d_terseLabel_en-US" xlink:label="lab_rr_AverageAnnualReturnCaption" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Caption</link:label>
    <link:label id="lab_rr_AverageAnnualReturnCaption_label_en-US" xlink:label="lab_rr_AverageAnnualReturnCaption" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Average Annual Return, Caption</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AverageAnnualReturnCaption" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AverageAnnualReturnCaption"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AverageAnnualReturnCaption" xlink:to="lab_rr_AverageAnnualReturnCaption" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_SmallNumberOfHoldingsRiskMember_a62eb7d6-0031-4229-9605-d39b2b10dd57_terseLabel_en-US" xlink:label="lab_ck0001032423_SmallNumberOfHoldingsRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Small Number Of Holdings Risk Member</link:label>
    <link:label id="lab_ck0001032423_SmallNumberOfHoldingsRiskMember_label_en-US" xlink:label="lab_ck0001032423_SmallNumberOfHoldingsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Small Number Of Holdings Risk Member</link:label>
    <link:label id="lab_ck0001032423_SmallNumberOfHoldingsRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_SmallNumberOfHoldingsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Small Number Of Holdings Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_SmallNumberOfHoldingsRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_SmallNumberOfHoldingsRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_SmallNumberOfHoldingsRiskMember" xlink:to="lab_ck0001032423_SmallNumberOfHoldingsRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_StrategyNarrativeTextBlock_527416a9-a385-4b85-9c68-78c6fbccdc97_terseLabel_en-US" xlink:label="lab_rr_StrategyNarrativeTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Strategy Narrative [Text Block]</link:label>
    <link:label id="lab_rr_StrategyNarrativeTextBlock_label_en-US" xlink:label="lab_rr_StrategyNarrativeTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Strategy Narrative [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_StrategyNarrativeTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_StrategyNarrativeTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_StrategyNarrativeTextBlock" xlink:to="lab_rr_StrategyNarrativeTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000008532Member_2cbd5b40-c358-4d37-9119-60473967d00b_terseLabel_en-US" xlink:label="lab_ck0001032423_C000008532Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class I</link:label>
    <link:label id="lab_ck0001032423_C000008532Member_label_en-US" xlink:label="lab_ck0001032423_C000008532Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Small Cap Fund Class I</link:label>
    <link:label id="lab_ck0001032423_C000008532Member_documentation_en-US" xlink:label="lab_ck0001032423_C000008532Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Small Cap Fund Class I, C000008532</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000008532Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000008532Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000008532Member" xlink:to="lab_ck0001032423_C000008532Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ShareClassDomain_f5d76943-ed5f-4855-826a-8c3fc7f7f5e6_terseLabel_en-US" xlink:label="lab_rr_ShareClassDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share Classes</link:label>
    <link:label id="lab_rr_ShareClassDomain_label_en-US" xlink:label="lab_rr_ShareClassDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Classes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ShareClassDomain" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ShareClassDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ShareClassDomain" xlink:to="lab_rr_ShareClassDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceAdditionalMarketIndex_d6d0f940-0395-4797-9fba-c151a8145882_terseLabel_en-US" xlink:label="lab_rr_PerformanceAdditionalMarketIndex" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Additional Market Index [Text]</link:label>
    <link:label id="lab_rr_PerformanceAdditionalMarketIndex_label_en-US" xlink:label="lab_rr_PerformanceAdditionalMarketIndex" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Additional Market Index [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceAdditionalMarketIndex" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceAdditionalMarketIndex"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceAdditionalMarketIndex" xlink:to="lab_rr_PerformanceAdditionalMarketIndex" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturnInceptionDate_0cf43284-5f3b-4a59-8c10-f86d1d9364c6_terseLabel_en-US" xlink:label="lab_rr_AnnualReturnInceptionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return, Inception Date</link:label>
    <link:label id="lab_rr_AnnualReturnInceptionDate_label_en-US" xlink:label="lab_rr_AnnualReturnInceptionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return, Inception Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturnInceptionDate" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturnInceptionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturnInceptionDate" xlink:to="lab_rr_AnnualReturnInceptionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2005_dca64749-8a15-42fa-a3df-5906befa92c8_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2005" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2005</link:label>
    <link:label id="lab_rr_AnnualReturn2005_label_en-US" xlink:label="lab_rr_AnnualReturn2005" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2005</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2005" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2005"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2005" xlink:to="lab_rr_AnnualReturn2005" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleByYearHeading_00cfbc63-8667-4772-bc1e-babdb96cdba9_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleByYearHeading" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example by Year [Heading]</link:label>
    <link:label id="lab_rr_ExpenseExampleByYearHeading_label_en-US" xlink:label="lab_rr_ExpenseExampleByYearHeading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example by Year [Heading]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleByYearHeading" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleByYearHeading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleByYearHeading" xlink:to="lab_rr_ExpenseExampleByYearHeading" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2006_0cb81b17-0843-4f73-80a7-14e5c9a55394_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2006" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2006</link:label>
    <link:label id="lab_rr_AnnualReturn2006_label_en-US" xlink:label="lab_rr_AnnualReturn2006" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2006</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2006" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2006"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2006" xlink:to="lab_rr_AnnualReturn2006" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2003_3ec54f8d-177c-4178-9981-d5e190e1c48f_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2003" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2003</link:label>
    <link:label id="lab_rr_AnnualReturn2003_label_en-US" xlink:label="lab_rr_AnnualReturn2003" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2003</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2003" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2003"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2003" xlink:to="lab_rr_AnnualReturn2003" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_PrepaymentAndCallRiskMember_45d6c20d-f3f8-4055-b01e-b9bc411c1dc8_terseLabel_en-US" xlink:label="lab_ck0001032423_PrepaymentAndCallRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepayment And Call Risk Member</link:label>
    <link:label id="lab_ck0001032423_PrepaymentAndCallRiskMember_label_en-US" xlink:label="lab_ck0001032423_PrepaymentAndCallRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepayment And Call Risk Member</link:label>
    <link:label id="lab_ck0001032423_PrepaymentAndCallRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_PrepaymentAndCallRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Prepayment And Call Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_PrepaymentAndCallRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_PrepaymentAndCallRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_PrepaymentAndCallRiskMember" xlink:to="lab_ck0001032423_PrepaymentAndCallRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2004_ca7c77dd-682e-4a53-b8d5-120627ee09f1_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2004" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2004</link:label>
    <link:label id="lab_rr_AnnualReturn2004_label_en-US" xlink:label="lab_rr_AnnualReturn2004" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2004</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2004" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2004"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2004" xlink:to="lab_rr_AnnualReturn2004" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2009_25d9ad9d-77ed-458d-9419-06b9a1731948_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2009" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2009</link:label>
    <link:label id="lab_rr_AnnualReturn2009_label_en-US" xlink:label="lab_rr_AnnualReturn2009" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2009</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2009" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2009"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2009" xlink:to="lab_rr_AnnualReturn2009" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000173088Member_2e30e403-7673-49e8-b5ae-fe8f41e016fe_terseLabel_en-US" xlink:label="lab_ck0001032423_C000173088Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class Y</link:label>
    <link:label id="lab_ck0001032423_C000173088Member_label_en-US" xlink:label="lab_ck0001032423_C000173088Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Bond Fund Class Y</link:label>
    <link:label id="lab_ck0001032423_C000173088Member_documentation_en-US" xlink:label="lab_ck0001032423_C000173088Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Bond Fund Class Y, C000173088</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000173088Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000173088Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000173088Member" xlink:to="lab_ck0001032423_C000173088Member" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentEffectiveDate_8fbcab45-578f-4682-899d-3687cdc35a35_terseLabel_en-US" xlink:label="lab_dei_DocumentEffectiveDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Effective Date</link:label>
    <link:label id="lab_dei_DocumentEffectiveDate_label_en-US" xlink:label="lab_dei_DocumentEffectiveDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Effective Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentEffectiveDate" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentEffectiveDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentEffectiveDate" xlink:to="lab_dei_DocumentEffectiveDate" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2007_85b9f24d-ca8a-4370-b780-4699f7f00dda_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2007" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2007</link:label>
    <link:label id="lab_rr_AnnualReturn2007_label_en-US" xlink:label="lab_rr_AnnualReturn2007" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2007</link:label>
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    <link:label id="lab_rr_AnnualReturn2008_label_en-US" xlink:label="lab_rr_AnnualReturn2008" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2008</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2008" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2008"/>
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    <link:label id="lab_ck0001032423_IlliquidSecuritiesRiskMember_995fea67-ae16-4fb2-a346-b707b62fe817_terseLabel_en-US" xlink:label="lab_ck0001032423_IlliquidSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Illiquid Securities Risk Member</link:label>
    <link:label id="lab_ck0001032423_IlliquidSecuritiesRiskMember_label_en-US" xlink:label="lab_ck0001032423_IlliquidSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Illiquid Securities Risk Member</link:label>
    <link:label id="lab_ck0001032423_IlliquidSecuritiesRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_IlliquidSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Illiquid Securities Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_IlliquidSecuritiesRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_IlliquidSecuritiesRiskMember"/>
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    <link:label id="lab_rr_PerformanceTableHeading_819878c6-922b-4c15-ad7e-e42bab5ac833_terseLabel_en-US" xlink:label="lab_rr_PerformanceTableHeading" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Table Heading</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceTableHeading" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceTableHeading"/>
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    <link:label id="lab_rr_PortfolioTurnoverHeading_cd1b9d52-8c98-47dd-a151-cbaf1049043a_terseLabel_en-US" xlink:label="lab_rr_PortfolioTurnoverHeading" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Portfolio Turnover [Heading]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_rr_PortfolioTurnoverHeading" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PortfolioTurnoverHeading"/>
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    <link:label id="lab_ck0001032423_S000012190Member_8b49e8ca-7c14-4216-bc09-1e9ba7149faa_terseLabel_en-US" xlink:label="lab_ck0001032423_S000012190Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diamond Hill Small-Mid Cap Fund</link:label>
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    <link:label id="lab_ck0001032423_SmallCapStockRiskMember_c3d69f13-745f-47c3-b49d-45edeb34f559_terseLabel_en-US" xlink:label="lab_ck0001032423_SmallCapStockRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Small-Cap Stock Risk Member</link:label>
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    <link:label id="lab_ck0001032423_SmallCapStockRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_SmallCapStockRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Small-Cap Stock Risk Member</link:label>
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    <link:label id="lab_rr_ExpensesRangeOfExchangeFeesTextBlock_8e29205a-687f-4626-9c68-aebc90d3d28a_terseLabel_en-US" xlink:label="lab_rr_ExpensesRangeOfExchangeFeesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses Range of Exchange Fees [Text Block]</link:label>
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    <link:label id="lab_rr_AnnualReturn2002_label_en-US" xlink:label="lab_rr_AnnualReturn2002" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2002</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2002" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2002"/>
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    <link:label id="lab_ck0001032423_C000008538Member_dbd83a31-39b5-4142-9182-0fc2a2a867b1_terseLabel_en-US" xlink:label="lab_ck0001032423_C000008538Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class I</link:label>
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    <link:label id="lab_rr_AnnualReturn2000_1910bc1d-ebd8-428e-bd91-e6d2bdc8219f_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2000" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2000</link:label>
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    <link:label id="lab_rr_AnnualReturn2016_label_en-US" xlink:label="lab_rr_AnnualReturn2016" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2016</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2017" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2017"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2017" xlink:to="lab_rr_AnnualReturn2017" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2014_6855df86-1915-4513-936c-57677d097a80_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2014" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2014</link:label>
    <link:label id="lab_rr_AnnualReturn2014_label_en-US" xlink:label="lab_rr_AnnualReturn2014" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2014</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2014" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2014"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2014" xlink:to="lab_rr_AnnualReturn2014" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_MainRiskMember_a0cb1100-2607-4f24-971b-d96d4446d3f2_terseLabel_en-US" xlink:label="lab_ck0001032423_MainRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Main Risk Member</link:label>
    <link:label id="lab_ck0001032423_MainRiskMember_label_en-US" xlink:label="lab_ck0001032423_MainRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Main Risk Member</link:label>
    <link:label id="lab_ck0001032423_MainRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_MainRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Main Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_MainRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_MainRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_MainRiskMember" xlink:to="lab_ck0001032423_MainRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2015_abb5b807-15ca-42ad-b761-7622191db4f7_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2015" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2015</link:label>
    <link:label id="lab_rr_AnnualReturn2015_label_en-US" xlink:label="lab_rr_AnnualReturn2015" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2015</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2015" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2015"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2015" xlink:to="lab_rr_AnnualReturn2015" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleByYearCaption_e1d53690-4d73-4466-8f9e-95094b111e7b_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleByYearCaption" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example by, Year, Caption [Text]</link:label>
    <link:label id="lab_rr_ExpenseExampleByYearCaption_label_en-US" xlink:label="lab_rr_ExpenseExampleByYearCaption" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example by, Year, Caption [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleByYearCaption" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleByYearCaption"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleByYearCaption" xlink:to="lab_rr_ExpenseExampleByYearCaption" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_RussellTwoThousandIndexMember_4882e9fe-447f-450a-8133-6e00dea1ff80_terseLabel_en-US" xlink:label="lab_ck0001032423_RussellTwoThousandIndexMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Russell 2000 Index</link:label>
    <link:label id="lab_ck0001032423_RussellTwoThousandIndexMember_label_en-US" xlink:label="lab_ck0001032423_RussellTwoThousandIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Russell 2000 Index</link:label>
    <link:label id="lab_ck0001032423_RussellTwoThousandIndexMember_documentation_en-US" xlink:label="lab_ck0001032423_RussellTwoThousandIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Russell 2000 Index</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_RussellTwoThousandIndexMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_RussellTwoThousandIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_RussellTwoThousandIndexMember" xlink:to="lab_ck0001032423_RussellTwoThousandIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2018_075226f3-67c9-49b0-80e9-c7fb11b69b87_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2018" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2018</link:label>
    <link:label id="lab_rr_AnnualReturn2018_label_en-US" xlink:label="lab_rr_AnnualReturn2018" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2018</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2018" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2018"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2018" xlink:to="lab_rr_AnnualReturn2018" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2019_5fe5af66-4f4c-48b9-9ae2-e64f7ba13039_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2019" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2019</link:label>
    <link:label id="lab_rr_AnnualReturn2019_label_en-US" xlink:label="lab_rr_AnnualReturn2019" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2019</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2019" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2019"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2019" xlink:to="lab_rr_AnnualReturn2019" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ManagementFeesOverAssets_51fd4465-280a-47ed-a349-2a0a6e979841_terseLabel_en-US" xlink:label="lab_rr_ManagementFeesOverAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management Fees (as a percentage of Assets)</link:label>
    <link:label id="lab_rr_ManagementFeesOverAssets_label_en-US" xlink:label="lab_rr_ManagementFeesOverAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fees (as a percentage of Assets)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ManagementFeesOverAssets" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ManagementFeesOverAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ManagementFeesOverAssets" xlink:to="lab_rr_ManagementFeesOverAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ShareholderFeesTableTextBlock_7f9dd172-09da-4bd6-9b00-ae9ed6890699_terseLabel_en-US" xlink:label="lab_rr_ShareholderFeesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shareholder Fees [Table]</link:label>
    <link:label id="lab_rr_ShareholderFeesTableTextBlock_label_en-US" xlink:label="lab_rr_ShareholderFeesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shareholder Fees [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ShareholderFeesTableTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ShareholderFeesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ShareholderFeesTableTextBlock" xlink:to="lab_rr_ShareholderFeesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceTableDoesReflectSalesLoads_a3448f55-f445-4603-b3f8-7f10bf9b23ee_terseLabel_en-US" xlink:label="lab_rr_PerformanceTableDoesReflectSalesLoads" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Table Does Reflect Sales Loads</link:label>
    <link:label id="lab_rr_PerformanceTableDoesReflectSalesLoads_label_en-US" xlink:label="lab_rr_PerformanceTableDoesReflectSalesLoads" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Table Does Reflect Sales Loads</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceTableDoesReflectSalesLoads" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceTableDoesReflectSalesLoads"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceTableDoesReflectSalesLoads" xlink:to="lab_rr_PerformanceTableDoesReflectSalesLoads" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_S000012191Member_f747970e-e690-4950-aa48-2ac2d67a9c12_terseLabel_en-US" xlink:label="lab_ck0001032423_S000012191Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diamond Hill Select Fund</link:label>
    <link:label id="lab_ck0001032423_S000012191Member_label_en-US" xlink:label="lab_ck0001032423_S000012191Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Select Fund</link:label>
    <link:label id="lab_ck0001032423_S000012191Member_documentation_en-US" xlink:label="lab_ck0001032423_S000012191Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Select Fund, S000012191</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_S000012191Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_S000012191Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_S000012191Member" xlink:to="lab_ck0001032423_S000012191Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2012_cb552426-1b59-4370-a40c-442c779ffa15_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2012" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2012</link:label>
    <link:label id="lab_rr_AnnualReturn2012_label_en-US" xlink:label="lab_rr_AnnualReturn2012" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2012</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2012" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2012"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2012" xlink:to="lab_rr_AnnualReturn2012" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ShareholderFeesColumnName_7b1bda18-a1b7-4503-a2f9-818dc8689be9_terseLabel_en-US" xlink:label="lab_rr_ShareholderFeesColumnName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shareholder Fees Column [Text]</link:label>
    <link:label id="lab_rr_ShareholderFeesColumnName_label_en-US" xlink:label="lab_rr_ShareholderFeesColumnName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shareholder Fees Column [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ShareholderFeesColumnName" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ShareholderFeesColumnName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ShareholderFeesColumnName" xlink:to="lab_rr_ShareholderFeesColumnName" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2013_1292f13a-41bf-46db-a000-3bb955adab6f_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2013" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2013</link:label>
    <link:label id="lab_rr_AnnualReturn2013_label_en-US" xlink:label="lab_rr_AnnualReturn2013" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2013</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2013" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2013"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2013" xlink:to="lab_rr_AnnualReturn2013" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination_8e403153-3d8d-4827-867f-2e48e58a41c0_terseLabel_en-US" xlink:label="lab_rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fee Waiver or Reimbursement over Assets, Date of Termination</link:label>
    <link:label id="lab_rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination_label_en-US" xlink:label="lab_rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fee Waiver or Reimbursement over Assets, Date of Termination</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination" xlink:to="lab_rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExchangeFee_655b0601-270c-4a21-8063-c2049c4bf43b_terseLabel_en-US" xlink:label="lab_rr_ExchangeFee" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchange Fee</link:label>
    <link:label id="lab_rr_ExchangeFee_label_en-US" xlink:label="lab_rr_ExchangeFee" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange Fee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExchangeFee" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExchangeFee"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExchangeFee" xlink:to="lab_rr_ExchangeFee" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_BarChartYearToDateReturnDate_b1288a0c-81f1-4b93-888f-1fc93771bfa6_terseLabel_en-US" xlink:label="lab_rr_BarChartYearToDateReturnDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bar Chart, Year to Date Return, Date</link:label>
    <link:label id="lab_rr_BarChartYearToDateReturnDate_label_en-US" xlink:label="lab_rr_BarChartYearToDateReturnDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bar Chart, Year to Date Return, Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_BarChartYearToDateReturnDate" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_BarChartYearToDateReturnDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_BarChartYearToDateReturnDate" xlink:to="lab_rr_BarChartYearToDateReturnDate" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2010_5a066b4a-04ac-4018-bab1-4cb0f3ac08c3_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2010" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2010</link:label>
    <link:label id="lab_rr_AnnualReturn2010_label_en-US" xlink:label="lab_rr_AnnualReturn2010" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2010</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2010" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2010"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2010" xlink:to="lab_rr_AnnualReturn2010" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2011_9b499a46-3ca3-494b-954a-a88b2fcd91a1_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2011" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2011</link:label>
    <link:label id="lab_rr_AnnualReturn2011_label_en-US" xlink:label="lab_rr_AnnualReturn2011" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2011</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2011" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2011"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2011" xlink:to="lab_rr_AnnualReturn2011" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_ForeignRiskMember_14117e6a-a63f-4b26-b6ab-8f986a8b92ab_terseLabel_en-US" xlink:label="lab_ck0001032423_ForeignRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign Risk Member</link:label>
    <link:label id="lab_ck0001032423_ForeignRiskMember_label_en-US" xlink:label="lab_ck0001032423_ForeignRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Risk Member</link:label>
    <link:label id="lab_ck0001032423_ForeignRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_ForeignRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_ForeignRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_ForeignRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_ForeignRiskMember" xlink:to="lab_ck0001032423_ForeignRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_RussellThreethousandIndexMember_cababee2-bc43-4f36-ab27-4a55c86e0259_terseLabel_en-US" xlink:label="lab_ck0001032423_RussellThreethousandIndexMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Russell 3000 Index</link:label>
    <link:label id="lab_ck0001032423_RussellThreethousandIndexMember_label_en-US" xlink:label="lab_ck0001032423_RussellThreethousandIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Russell 3000 Index</link:label>
    <link:label id="lab_ck0001032423_RussellThreethousandIndexMember_documentation_en-US" xlink:label="lab_ck0001032423_RussellThreethousandIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Russell 3000 Index</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_RussellThreethousandIndexMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_RussellThreethousandIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_RussellThreethousandIndexMember" xlink:to="lab_ck0001032423_RussellThreethousandIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000227096Member_4dfb5e44-80fd-4200-8587-e835a669574c_terseLabel_en-US" xlink:label="lab_ck0001032423_C000227096Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class I</link:label>
    <link:label id="lab_ck0001032423_C000227096Member_label_en-US" xlink:label="lab_ck0001032423_C000227096Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Large Cap Concentrated Fund Class I</link:label>
    <link:label id="lab_ck0001032423_C000227096Member_documentation_en-US" xlink:label="lab_ck0001032423_C000227096Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">C000227096 Diamond Hill Large Cap Concentrated Fund Class I DHFIX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000227096Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000227096Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000227096Member" xlink:to="lab_ck0001032423_C000227096Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000134910Member_88231d1a-98c5-4f65-867d-32bdb8be73ec_terseLabel_en-US" xlink:label="lab_ck0001032423_C000134910Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class Y</link:label>
    <link:label id="lab_ck0001032423_C000134910Member_label_en-US" xlink:label="lab_ck0001032423_C000134910Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Mid Cap Fund Class Y</link:label>
    <link:label id="lab_ck0001032423_C000134910Member_documentation_en-US" xlink:label="lab_ck0001032423_C000134910Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Mid Cap Fund Class Y, C000134910</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000134910Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000134910Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000134910Member" xlink:to="lab_ck0001032423_C000134910Member" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_TradingSymbol_c048b536-ad10-4691-9a0f-b4b12765588b_terseLabel_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:label id="lab_dei_TradingSymbol_label_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_TradingSymbol"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_TradingSymbol" xlink:to="lab_dei_TradingSymbol" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_RiskNondiversifiedStatusMember_cfcee3fc-d71b-4380-b036-7a442dce9c78_terseLabel_en-US" xlink:label="lab_rr_RiskNondiversifiedStatusMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk Nondiversified Status [Member]</link:label>
    <link:label id="lab_rr_RiskNondiversifiedStatusMember_label_en-US" xlink:label="lab_rr_RiskNondiversifiedStatusMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Nondiversified Status [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RiskNondiversifiedStatusMember" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RiskNondiversifiedStatusMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RiskNondiversifiedStatusMember" xlink:to="lab_rr_RiskNondiversifiedStatusMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_RiskFootnotesTextBlock_56cf7a42-56fb-480c-8a66-884fce65fbe7_terseLabel_en-US" xlink:label="lab_rr_RiskFootnotesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk Footnotes [Text Block]</link:label>
    <link:label id="lab_rr_RiskFootnotesTextBlock_label_en-US" xlink:label="lab_rr_RiskFootnotesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Footnotes [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RiskFootnotesTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RiskFootnotesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RiskFootnotesTextBlock" xlink:to="lab_rr_RiskFootnotesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_S000088234Member_de5d11c2-85a5-412a-94bf-86d61110c2e4_terseLabel_en-US" xlink:label="lab_ck0001032423_S000088234Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Plus Bond Fund</link:label>
    <link:label id="lab_ck0001032423_S000088234Member_label_en-US" xlink:label="lab_ck0001032423_S000088234Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Plus Bond Fund</link:label>
    <link:label id="lab_ck0001032423_S000088234Member_documentation_en-US" xlink:label="lab_ck0001032423_S000088234Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Plus Bond Fund</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_S000088234Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_S000088234Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_S000088234Member" xlink:to="lab_ck0001032423_S000088234Member" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentCreationDate_dae5f602-f986-4ea7-ba8d-b85006b82598_terseLabel_en-US" xlink:label="lab_dei_DocumentCreationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Creation Date</link:label>
    <link:label id="lab_dei_DocumentCreationDate_label_en-US" xlink:label="lab_dei_DocumentCreationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Creation Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentCreationDate" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentCreationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentCreationDate" xlink:to="lab_dei_DocumentCreationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_S000003154Member_c0bc2505-d7b9-4d3b-a0b1-c285f333d237_terseLabel_en-US" xlink:label="lab_ck0001032423_S000003154Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diamond Hill Small Cap Fund</link:label>
    <link:label id="lab_ck0001032423_S000003154Member_label_en-US" xlink:label="lab_ck0001032423_S000003154Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Small Cap Fund</link:label>
    <link:label id="lab_ck0001032423_S000003154Member_documentation_en-US" xlink:label="lab_ck0001032423_S000003154Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Small Cap Fund, S000003154</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_S000003154Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_S000003154Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_S000003154Member" xlink:to="lab_ck0001032423_S000003154Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_OperatingExpensesColumnName_dfd33b4c-ac7d-421c-85b8-dd81710e7cc8_terseLabel_en-US" xlink:label="lab_rr_OperatingExpensesColumnName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Expenses Column [Text]</link:label>
    <link:label id="lab_rr_OperatingExpensesColumnName_label_en-US" xlink:label="lab_rr_OperatingExpensesColumnName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Expenses Column [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_OperatingExpensesColumnName" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_OperatingExpensesColumnName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_OperatingExpensesColumnName" xlink:to="lab_rr_OperatingExpensesColumnName" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_MaximumDeferredSalesChargeOverOther_4a4afb32-9e5b-4614-b4f4-c8fcd8086365_terseLabel_en-US" xlink:label="lab_rr_MaximumDeferredSalesChargeOverOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum Deferred Sales Charge (as a percentage)</link:label>
    <link:label id="lab_rr_MaximumDeferredSalesChargeOverOther_label_en-US" xlink:label="lab_rr_MaximumDeferredSalesChargeOverOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Deferred Sales Charge (as a percentage)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_MaximumDeferredSalesChargeOverOther" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_MaximumDeferredSalesChargeOverOther"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_MaximumDeferredSalesChargeOverOther" xlink:to="lab_rr_MaximumDeferredSalesChargeOverOther" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentInformationDocumentAxis_6c965540-a4f4-487f-bb29-6fed49feaba1_terseLabel_en-US" xlink:label="lab_dei_DocumentInformationDocumentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document [Axis]</link:label>
    <link:label id="lab_dei_DocumentInformationDocumentAxis_label_en-US" xlink:label="lab_dei_DocumentInformationDocumentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentInformationDocumentAxis" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentInformationDocumentAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentInformationDocumentAxis" xlink:to="lab_dei_DocumentInformationDocumentAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_SingleCountryRiskMember_6c2c98c6-ebe6-4329-98a5-fa5af2a10c56_terseLabel_en-US" xlink:label="lab_ck0001032423_SingleCountryRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Single Country Risk Member</link:label>
    <link:label id="lab_ck0001032423_SingleCountryRiskMember_label_en-US" xlink:label="lab_ck0001032423_SingleCountryRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Single Country Risk Member</link:label>
    <link:label id="lab_ck0001032423_SingleCountryRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_SingleCountryRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Single Country Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_SingleCountryRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_SingleCountryRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_SingleCountryRiskMember" xlink:to="lab_ck0001032423_SingleCountryRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_BarChartReturnsForClassNotOfferedInProspectus_39b37027-aef1-450e-b5cc-1087b24c40d2_terseLabel_en-US" xlink:label="lab_rr_BarChartReturnsForClassNotOfferedInProspectus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bar Chart, Returns for Class Not Offered in Prospectus [Text]</link:label>
    <link:label id="lab_rr_BarChartReturnsForClassNotOfferedInProspectus_label_en-US" xlink:label="lab_rr_BarChartReturnsForClassNotOfferedInProspectus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bar Chart, Returns for Class Not Offered in Prospectus [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_BarChartReturnsForClassNotOfferedInProspectus" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_BarChartReturnsForClassNotOfferedInProspectus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_BarChartReturnsForClassNotOfferedInProspectus" xlink:to="lab_rr_BarChartReturnsForClassNotOfferedInProspectus" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2020_e7e54bbf-0c57-4999-af74-7b8f83952c49_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2020" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2020</link:label>
    <link:label id="lab_rr_AnnualReturn2020_label_en-US" xlink:label="lab_rr_AnnualReturn2020" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2020</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2020" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2020"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2020" xlink:to="lab_rr_AnnualReturn2020" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AverageAnnualReturnInceptionDate_23213456-a899-46d9-a64d-732e12f5151b_terseLabel_en-US" xlink:label="lab_rr_AverageAnnualReturnInceptionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inception Date</link:label>
    <link:label id="lab_rr_AverageAnnualReturnInceptionDate_label_en-US" xlink:label="lab_rr_AverageAnnualReturnInceptionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inception Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AverageAnnualReturnInceptionDate" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AverageAnnualReturnInceptionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AverageAnnualReturnInceptionDate" xlink:to="lab_rr_AverageAnnualReturnInceptionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2023_b45fe524-e10a-43c4-95c7-a18a2a247eef_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2023" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2023</link:label>
    <link:label id="lab_rr_AnnualReturn2023_label_en-US" xlink:label="lab_rr_AnnualReturn2023" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2023</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2023" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2023"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2023" xlink:to="lab_rr_AnnualReturn2023" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2024_ee4bd5e0-6e2b-486f-847a-8bcb6b2fef74_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2024" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2024</link:label>
    <link:label id="lab_rr_AnnualReturn2024_label_en-US" xlink:label="lab_rr_AnnualReturn2024" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2024</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2024" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2024"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2024" xlink:to="lab_rr_AnnualReturn2024" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AverageAnnualReturnColumnName_b701e929-3a49-414b-8eb9-16f072abf0cf_terseLabel_en-US" xlink:label="lab_rr_AverageAnnualReturnColumnName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Column</link:label>
    <link:label id="lab_rr_AverageAnnualReturnColumnName_label_en-US" xlink:label="lab_rr_AverageAnnualReturnColumnName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Average Annual Return, Column Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AverageAnnualReturnColumnName" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AverageAnnualReturnColumnName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AverageAnnualReturnColumnName" xlink:to="lab_rr_AverageAnnualReturnColumnName" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2021_d760f8df-6074-43eb-ba03-7f5b7238c30d_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2021" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2021</link:label>
    <link:label id="lab_rr_AnnualReturn2021_label_en-US" xlink:label="lab_rr_AnnualReturn2021" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2021</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2021" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2021"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2021" xlink:to="lab_rr_AnnualReturn2021" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_LoanRiskMember_a33fcfb5-100e-4fa9-a971-e5102a35685c_terseLabel_en-US" xlink:label="lab_ck0001032423_LoanRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Risk Member</link:label>
    <link:label id="lab_ck0001032423_LoanRiskMember_label_en-US" xlink:label="lab_ck0001032423_LoanRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Risk Member</link:label>
    <link:label id="lab_ck0001032423_LoanRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_LoanRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_LoanRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_LoanRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_LoanRiskMember" xlink:to="lab_ck0001032423_LoanRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000033259Member_147b4528-402c-434a-93db-bf159218c5dc_terseLabel_en-US" xlink:label="lab_ck0001032423_C000033259Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investor</link:label>
    <link:label id="lab_ck0001032423_C000033259Member_label_en-US" xlink:label="lab_ck0001032423_C000033259Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Select Fund Class Investor</link:label>
    <link:label id="lab_ck0001032423_C000033259Member_documentation_en-US" xlink:label="lab_ck0001032423_C000033259Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Select Fund Class Investor, C000033259</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000033259Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000033259Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000033259Member" xlink:to="lab_ck0001032423_C000033259Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn2022_e55acfa3-9d2d-466a-b0a5-73b3c1bec0dc_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn2022" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 2022</link:label>
    <link:label id="lab_rr_AnnualReturn2022_label_en-US" xlink:label="lab_rr_AnnualReturn2022" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 2022</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn2022" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn2022"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn2022" xlink:to="lab_rr_AnnualReturn2022" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceTableFootnotesTextBlock_e0eb91a7-0d7e-4930-b3e7-8ef332c73d2e_terseLabel_en-US" xlink:label="lab_rr_PerformanceTableFootnotesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Table Footnotes</link:label>
    <link:label id="lab_rr_PerformanceTableFootnotesTextBlock_label_en-US" xlink:label="lab_rr_PerformanceTableFootnotesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Table Footnotes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceTableFootnotesTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceTableFootnotesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceTableFootnotesTextBlock" xlink:to="lab_rr_PerformanceTableFootnotesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_SmallCapCompanyRiskMember_36772b84-580a-45aa-95ac-bdb899b371c3_terseLabel_en-US" xlink:label="lab_ck0001032423_SmallCapCompanyRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Small Cap Company Risk Member</link:label>
    <link:label id="lab_ck0001032423_SmallCapCompanyRiskMember_label_en-US" xlink:label="lab_ck0001032423_SmallCapCompanyRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Small Cap Company Risk Member</link:label>
    <link:label id="lab_ck0001032423_SmallCapCompanyRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_SmallCapCompanyRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Small Cap Company Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_SmallCapCompanyRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_SmallCapCompanyRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_SmallCapCompanyRiskMember" xlink:to="lab_ck0001032423_SmallCapCompanyRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_RedemptionFee_1eea8236-c8be-4496-a621-4735bda26159_terseLabel_en-US" xlink:label="lab_rr_RedemptionFee" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redemption Fee</link:label>
    <link:label id="lab_rr_RedemptionFee_label_en-US" xlink:label="lab_rr_RedemptionFee" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redemption Fee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RedemptionFee" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RedemptionFee"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RedemptionFee" xlink:to="lab_rr_RedemptionFee" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_BarChartFootnotesTextBlock_776d2d73-efba-4943-a58e-3b3243e17017_terseLabel_en-US" xlink:label="lab_rr_BarChartFootnotesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bar Chart Footnotes [Text Block]</link:label>
    <link:label id="lab_rr_BarChartFootnotesTextBlock_label_en-US" xlink:label="lab_rr_BarChartFootnotesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bar Chart Footnotes [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_BarChartFootnotesTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_BarChartFootnotesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_BarChartFootnotesTextBlock" xlink:to="lab_rr_BarChartFootnotesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000227095Member_1b1d7f5f-dfd8-4e43-9781-80d6663da71b_terseLabel_en-US" xlink:label="lab_ck0001032423_C000227095Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investor</link:label>
    <link:label id="lab_ck0001032423_C000227095Member_label_en-US" xlink:label="lab_ck0001032423_C000227095Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Large Cap Concentrated Fund Class Investor</link:label>
    <link:label id="lab_ck0001032423_C000227095Member_documentation_en-US" xlink:label="lab_ck0001032423_C000227095Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">C000227095 Diamond Hill Large Cap Concentrated Fund Class Investor DHFAX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000227095Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000227095Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000227095Member" xlink:to="lab_ck0001032423_C000227095Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_NonU.S.AndEmergingMarketsRiskMember_9663c7c9-1a50-42f0-acb8-c9dc739e3bba_terseLabel_en-US" xlink:label="lab_ck0001032423_NonU.S.AndEmergingMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-U.S. And Emerging Markets Risk Member</link:label>
    <link:label id="lab_ck0001032423_NonU.S.AndEmergingMarketsRiskMember_label_en-US" xlink:label="lab_ck0001032423_NonU.S.AndEmergingMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-U.S. And Emerging Markets Risk Member</link:label>
    <link:label id="lab_ck0001032423_NonU.S.AndEmergingMarketsRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_NonU.S.AndEmergingMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non-U.S. And Emerging Markets Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_NonU.S.AndEmergingMarketsRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_NonU.S.AndEmergingMarketsRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_NonU.S.AndEmergingMarketsRiskMember" xlink:to="lab_ck0001032423_NonU.S.AndEmergingMarketsRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000173087Member_19b7aeaf-244c-40f5-9cdd-d6e2ee9c4e8e_terseLabel_en-US" xlink:label="lab_ck0001032423_C000173087Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class I</link:label>
    <link:label id="lab_ck0001032423_C000173087Member_label_en-US" xlink:label="lab_ck0001032423_C000173087Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Bond Fund Class I</link:label>
    <link:label id="lab_ck0001032423_C000173087Member_documentation_en-US" xlink:label="lab_ck0001032423_C000173087Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Bond Fund Class I, C000173087</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000173087Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000173087Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000173087Member" xlink:to="lab_ck0001032423_C000173087Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_MaximumCumulativeSalesChargeOverOther_2fe543d8-a1f0-4ee2-9a91-bb8e71c5cf45_terseLabel_en-US" xlink:label="lab_rr_MaximumCumulativeSalesChargeOverOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum Cumulative Sales Charge (as a percentage)</link:label>
    <link:label id="lab_rr_MaximumCumulativeSalesChargeOverOther_label_en-US" xlink:label="lab_rr_MaximumCumulativeSalesChargeOverOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Cumulative Sales Charge (as a percentage)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_MaximumCumulativeSalesChargeOverOther" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_MaximumCumulativeSalesChargeOverOther"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_MaximumCumulativeSalesChargeOverOther" xlink:to="lab_rr_MaximumCumulativeSalesChargeOverOther" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_LowestQuarterlyReturnLabel_ea19187d-060e-4be2-882f-aca4d9cfc332_terseLabel_en-US" xlink:label="lab_rr_LowestQuarterlyReturnLabel" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lowest Quarterly Return, Label</link:label>
    <link:label id="lab_rr_LowestQuarterlyReturnLabel_label_en-US" xlink:label="lab_rr_LowestQuarterlyReturnLabel" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lowest Quarterly Return, Label</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_LowestQuarterlyReturnLabel" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_LowestQuarterlyReturnLabel"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_LowestQuarterlyReturnLabel" xlink:to="lab_rr_LowestQuarterlyReturnLabel" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceMeasureDomain_b083e10f-06a9-4030-bd1f-6ba1e898fb0e_terseLabel_en-US" xlink:label="lab_rr_PerformanceMeasureDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Before Taxes</link:label>
    <link:label id="lab_rr_PerformanceMeasureDomain_label_en-US" xlink:label="lab_rr_PerformanceMeasureDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Before Taxes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceMeasureDomain" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceMeasureDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceMeasureDomain" xlink:to="lab_rr_PerformanceMeasureDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_RiskClosingTextBlock_7cfdce2d-b56a-4fce-9f2c-a6bbf3add541_terseLabel_en-US" xlink:label="lab_rr_RiskClosingTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk Closing [Text Block]</link:label>
    <link:label id="lab_rr_RiskClosingTextBlock_label_en-US" xlink:label="lab_rr_RiskClosingTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Closing [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RiskClosingTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RiskClosingTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RiskClosingTextBlock" xlink:to="lab_rr_RiskClosingTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_S000055044Member_41e118b3-7bbb-4f4a-8a45-02d42077e831_terseLabel_en-US" xlink:label="lab_ck0001032423_S000055044Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Bond Fund</link:label>
    <link:label id="lab_ck0001032423_S000055044Member_label_en-US" xlink:label="lab_ck0001032423_S000055044Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Bond Fund</link:label>
    <link:label id="lab_ck0001032423_S000055044Member_documentation_en-US" xlink:label="lab_ck0001032423_S000055044Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Bond Fund, S000055044</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_S000055044Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_S000055044Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_S000055044Member" xlink:to="lab_ck0001032423_S000055044Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_3e8e61b0-aa82-48b6-bc9b-ac3d8c55e4a0_terseLabel_en-US" xlink:label="lab_rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)</link:label>
    <link:label id="lab_rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_label_en-US" xlink:label="lab_rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice" xlink:to="lab_rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_BloombergUSAggregateBondIndexIndexMember_943abe77-f2b0-49fd-a361-47f49b1bff78_terseLabel_en-US" xlink:label="lab_ck0001032423_BloombergUSAggregateBondIndexIndexMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bloomberg US Aggregate Bond Index</link:label>
    <link:label id="lab_ck0001032423_BloombergUSAggregateBondIndexIndexMember_label_en-US" xlink:label="lab_ck0001032423_BloombergUSAggregateBondIndexIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bloomberg US Aggregate Bond Index</link:label>
    <link:label id="lab_ck0001032423_BloombergUSAggregateBondIndexIndexMember_documentation_en-US" xlink:label="lab_ck0001032423_BloombergUSAggregateBondIndexIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Bloomberg US Aggregate Bond Index</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_BloombergUSAggregateBondIndexIndexMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_BloombergUSAggregateBondIndexIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_BloombergUSAggregateBondIndexIndexMember" xlink:to="lab_ck0001032423_BloombergUSAggregateBondIndexIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_StrategyPortfolioConcentration_5a36100e-642d-4d72-a5e5-9f644dc81357_terseLabel_en-US" xlink:label="lab_rr_StrategyPortfolioConcentration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Strategy Portfolio Concentration [Text]</link:label>
    <link:label id="lab_rr_StrategyPortfolioConcentration_label_en-US" xlink:label="lab_rr_StrategyPortfolioConcentration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Strategy Portfolio Concentration [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_StrategyPortfolioConcentration" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_StrategyPortfolioConcentration"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_StrategyPortfolioConcentration" xlink:to="lab_rr_StrategyPortfolioConcentration" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn1994_d2495d09-b89e-42b4-a6a3-9aecd4218cc7_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn1994" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 1994</link:label>
    <link:label id="lab_rr_AnnualReturn1994_label_en-US" xlink:label="lab_rr_AnnualReturn1994" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 1994</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn1994" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn1994"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn1994" xlink:to="lab_rr_AnnualReturn1994" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn1995_9c6e76a3-7d5e-42d0-a553-a8e6e48b2fbb_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn1995" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 1995</link:label>
    <link:label id="lab_rr_AnnualReturn1995_label_en-US" xlink:label="lab_rr_AnnualReturn1995" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 1995</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn1995" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn1995"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn1995" xlink:to="lab_rr_AnnualReturn1995" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_BenchmarkCorrelationRiskMember_07aa2ff4-f39d-498b-93c0-9203f3e4e022_terseLabel_en-US" xlink:label="lab_ck0001032423_BenchmarkCorrelationRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Benchmark Correlation Risk Member</link:label>
    <link:label id="lab_ck0001032423_BenchmarkCorrelationRiskMember_label_en-US" xlink:label="lab_ck0001032423_BenchmarkCorrelationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Benchmark Correlation Risk Member</link:label>
    <link:label id="lab_ck0001032423_BenchmarkCorrelationRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_BenchmarkCorrelationRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Benchmark Correlation Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_BenchmarkCorrelationRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_BenchmarkCorrelationRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_BenchmarkCorrelationRiskMember" xlink:to="lab_ck0001032423_BenchmarkCorrelationRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn1992_f8cdba93-eef6-4d29-8e63-3e8a841af9e0_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn1992" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 1992</link:label>
    <link:label id="lab_rr_AnnualReturn1992_label_en-US" xlink:label="lab_rr_AnnualReturn1992" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 1992</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn1992" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn1992"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn1992" xlink:to="lab_rr_AnnualReturn1992" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn1993_a5406bdd-df3e-469e-8ee8-a10196921bb3_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn1993" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 1993</link:label>
    <link:label id="lab_rr_AnnualReturn1993_label_en-US" xlink:label="lab_rr_AnnualReturn1993" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 1993</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn1993" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn1993"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn1993" xlink:to="lab_rr_AnnualReturn1993" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn1998_4bb6664d-8d85-4c88-a65e-ada0b0c9a791_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn1998" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 1998</link:label>
    <link:label id="lab_rr_AnnualReturn1998_label_en-US" xlink:label="lab_rr_AnnualReturn1998" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 1998</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn1998" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn1998"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn1998" xlink:to="lab_rr_AnnualReturn1998" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpensesOtherExpensesHadExtraordinaryExpensesBeenIncluded_faff2346-6a82-4aba-84f5-509c54d4cabe_terseLabel_en-US" xlink:label="lab_rr_ExpensesOtherExpensesHadExtraordinaryExpensesBeenIncluded" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses Other Expenses Had Extraordinary Expenses Been Included [Text]</link:label>
    <link:label id="lab_rr_ExpensesOtherExpensesHadExtraordinaryExpensesBeenIncluded_label_en-US" xlink:label="lab_rr_ExpensesOtherExpensesHadExtraordinaryExpensesBeenIncluded" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expenses Other Expenses Had Extraordinary Expenses Been Included [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpensesOtherExpensesHadExtraordinaryExpensesBeenIncluded" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpensesOtherExpensesHadExtraordinaryExpensesBeenIncluded"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpensesOtherExpensesHadExtraordinaryExpensesBeenIncluded" xlink:to="lab_rr_ExpensesOtherExpensesHadExtraordinaryExpensesBeenIncluded" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn1999_6a8afd22-c361-4fcb-8f6a-66e7f63cd36b_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn1999" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 1999</link:label>
    <link:label id="lab_rr_AnnualReturn1999_label_en-US" xlink:label="lab_rr_AnnualReturn1999" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 1999</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn1999" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn1999"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn1999" xlink:to="lab_rr_AnnualReturn1999" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn1996_5515f93f-2c5b-493f-a5db-ca5e0defdac5_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn1996" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 1996</link:label>
    <link:label id="lab_rr_AnnualReturn1996_label_en-US" xlink:label="lab_rr_AnnualReturn1996" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 1996</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn1996" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn1996"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn1996" xlink:to="lab_rr_AnnualReturn1996" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn1997_f9405a22-a989-4b37-b62c-efbf29fd4313_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn1997" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 1997</link:label>
    <link:label id="lab_rr_AnnualReturn1997_label_en-US" xlink:label="lab_rr_AnnualReturn1997" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 1997</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn1997" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn1997"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn1997" xlink:to="lab_rr_AnnualReturn1997" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_MorningstarGlobalMarketsexUSIndexMember_e1173733-a7f7-4df4-8652-b7692ed2b6ea_terseLabel_en-US" xlink:label="lab_ck0001032423_MorningstarGlobalMarketsexUSIndexMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Morningstar Global Markets ex-US Index</link:label>
    <link:label id="lab_ck0001032423_MorningstarGlobalMarketsexUSIndexMember_label_en-US" xlink:label="lab_ck0001032423_MorningstarGlobalMarketsexUSIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Morningstar Global Markets ex-US Index</link:label>
    <link:label id="lab_ck0001032423_MorningstarGlobalMarketsexUSIndexMember_documentation_en-US" xlink:label="lab_ck0001032423_MorningstarGlobalMarketsexUSIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Morningstar Global Markets ex-US Index</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_MorningstarGlobalMarketsexUSIndexMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_MorningstarGlobalMarketsexUSIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_MorningstarGlobalMarketsexUSIndexMember" xlink:to="lab_ck0001032423_MorningstarGlobalMarketsexUSIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpensesRestatedToReflectCurrent_081ca0bb-7dbe-48fa-8159-1b0a892378c2_terseLabel_en-US" xlink:label="lab_rr_ExpensesRestatedToReflectCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses Restated to Reflect Current [Text]</link:label>
    <link:label id="lab_rr_ExpensesRestatedToReflectCurrent_label_en-US" xlink:label="lab_rr_ExpensesRestatedToReflectCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expenses Restated to Reflect Current [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpensesRestatedToReflectCurrent" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpensesRestatedToReflectCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpensesRestatedToReflectCurrent" xlink:to="lab_rr_ExpensesRestatedToReflectCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_BarChartClosingTextBlock_e3d6a679-f0e7-4b1a-99a2-4a2e0591aa7c_terseLabel_en-US" xlink:label="lab_rr_BarChartClosingTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bar Chart Closing [Text Block]</link:label>
    <link:label id="lab_rr_BarChartClosingTextBlock_label_en-US" xlink:label="lab_rr_BarChartClosingTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bar Chart Closing [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_BarChartClosingTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_BarChartClosingTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_BarChartClosingTextBlock" xlink:to="lab_rr_BarChartClosingTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000108464Member_5b2de499-f6f7-4caa-ba24-f3d40ca0f18d_terseLabel_en-US" xlink:label="lab_ck0001032423_C000108464Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class Y</link:label>
    <link:label id="lab_ck0001032423_C000108464Member_label_en-US" xlink:label="lab_ck0001032423_C000108464Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Large Cap Fund Class Y</link:label>
    <link:label id="lab_ck0001032423_C000108464Member_documentation_en-US" xlink:label="lab_ck0001032423_C000108464Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Large Cap Fund Class Y, C000108464</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000108464Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000108464Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000108464Member" xlink:to="lab_ck0001032423_C000108464Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ThirtyDayYieldColumnName_0c53198a-2c16-4e60-9d30-4450b0835e29_terseLabel_en-US" xlink:label="lab_rr_ThirtyDayYieldColumnName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thirty Day Yield Column [Text]</link:label>
    <link:label id="lab_rr_ThirtyDayYieldColumnName_label_en-US" xlink:label="lab_rr_ThirtyDayYieldColumnName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Thirty Day Yield Column [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ThirtyDayYieldColumnName" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ThirtyDayYieldColumnName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ThirtyDayYieldColumnName" xlink:to="lab_rr_ThirtyDayYieldColumnName" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AcquiredFundFeesAndExpensesOverAssets_8d514e1f-48ae-470b-9f3e-c3f9532ce67f_terseLabel_en-US" xlink:label="lab_rr_AcquiredFundFeesAndExpensesOverAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquired Fund Fees and Expenses</link:label>
    <link:label id="lab_rr_AcquiredFundFeesAndExpensesOverAssets_label_en-US" xlink:label="lab_rr_AcquiredFundFeesAndExpensesOverAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquired Fund Fees and Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AcquiredFundFeesAndExpensesOverAssets" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AcquiredFundFeesAndExpensesOverAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AcquiredFundFeesAndExpensesOverAssets" xlink:to="lab_rr_AcquiredFundFeesAndExpensesOverAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000134907Member_3e1c669e-07cf-41b1-9e6b-70c7e1399be5_terseLabel_en-US" xlink:label="lab_ck0001032423_C000134907Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investor</link:label>
    <link:label id="lab_ck0001032423_C000134907Member_label_en-US" xlink:label="lab_ck0001032423_C000134907Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Mid Cap Fund Class Investor</link:label>
    <link:label id="lab_ck0001032423_C000134907Member_documentation_en-US" xlink:label="lab_ck0001032423_C000134907Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Mid Cap Fund Class Investor, C000134907</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000134907Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000134907Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000134907Member" xlink:to="lab_ck0001032423_C000134907Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_RiskReturnHeading_56e180f3-3900-4541-8fff-170badcfb413_terseLabel_en-US" xlink:label="lab_rr_RiskReturnHeading" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk/Return [Heading]</link:label>
    <link:label id="lab_rr_RiskReturnHeading_label_en-US" xlink:label="lab_rr_RiskReturnHeading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk/Return [Heading]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RiskReturnHeading" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RiskReturnHeading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RiskReturnHeading" xlink:to="lab_rr_RiskReturnHeading" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ThirtyDayYieldCaption_52d735e4-4fad-496e-879a-e8de8c609ba7_terseLabel_en-US" xlink:label="lab_rr_ThirtyDayYieldCaption" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thirty Day Yield Caption</link:label>
    <link:label id="lab_rr_ThirtyDayYieldCaption_label_en-US" xlink:label="lab_rr_ThirtyDayYieldCaption" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Thirty Day Yield Caption</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ThirtyDayYieldCaption" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ThirtyDayYieldCaption"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ThirtyDayYieldCaption" xlink:to="lab_rr_ThirtyDayYieldCaption" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_MoneyMarketSevenDayYield_a3272f20-d468-4e6c-8dfc-c49c15d28078_terseLabel_en-US" xlink:label="lab_rr_MoneyMarketSevenDayYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Money Market Seven Day Yield</link:label>
    <link:label id="lab_rr_MoneyMarketSevenDayYield_label_en-US" xlink:label="lab_rr_MoneyMarketSevenDayYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Money Market Seven Day Yield</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_MoneyMarketSevenDayYield" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_MoneyMarketSevenDayYield"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_MoneyMarketSevenDayYield" xlink:to="lab_rr_MoneyMarketSevenDayYield" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_StyleRiskMember_dbcaa23a-046f-44eb-9179-3a7ec3f27269_terseLabel_en-US" xlink:label="lab_ck0001032423_StyleRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Style Risk Member</link:label>
    <link:label id="lab_ck0001032423_StyleRiskMember_label_en-US" xlink:label="lab_ck0001032423_StyleRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Style Risk Member</link:label>
    <link:label id="lab_ck0001032423_StyleRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_StyleRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Style Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_StyleRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_StyleRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_StyleRiskMember" xlink:to="lab_ck0001032423_StyleRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn1990_b1ca72c0-853d-42fb-a7e1-fa6d55da79a2_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn1990" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 1990</link:label>
    <link:label id="lab_rr_AnnualReturn1990_label_en-US" xlink:label="lab_rr_AnnualReturn1990" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 1990</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn1990" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn1990"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn1990" xlink:to="lab_rr_AnnualReturn1990" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturn1991_111db887-2bcf-4b26-93f4-9fbdd1d2b51a_terseLabel_en-US" xlink:label="lab_rr_AnnualReturn1991" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return 1991</link:label>
    <link:label id="lab_rr_AnnualReturn1991_label_en-US" xlink:label="lab_rr_AnnualReturn1991" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return 1991</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturn1991" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturn1991"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturn1991" xlink:to="lab_rr_AnnualReturn1991" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_RealEstateRiskMember_8add25b1-5275-4bf6-a303-bec70bca660e_terseLabel_en-US" xlink:label="lab_ck0001032423_RealEstateRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Risk Member</link:label>
    <link:label id="lab_ck0001032423_RealEstateRiskMember_label_en-US" xlink:label="lab_ck0001032423_RealEstateRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Risk Member</link:label>
    <link:label id="lab_ck0001032423_RealEstateRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_RealEstateRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_RealEstateRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_RealEstateRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_RealEstateRiskMember" xlink:to="lab_ck0001032423_RealEstateRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_DistributionOrSimilarNon12b1FeesOverAssets_e20bbdf4-cfd3-4ff8-8e6c-b77069173594_terseLabel_en-US" xlink:label="lab_rr_DistributionOrSimilarNon12b1FeesOverAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution or Similar (Non 12b-1) Fees</link:label>
    <link:label id="lab_rr_DistributionOrSimilarNon12b1FeesOverAssets_label_en-US" xlink:label="lab_rr_DistributionOrSimilarNon12b1FeesOverAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution or Similar (Non 12b-1) Fees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_DistributionOrSimilarNon12b1FeesOverAssets" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_DistributionOrSimilarNon12b1FeesOverAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_DistributionOrSimilarNon12b1FeesOverAssets" xlink:to="lab_rr_DistributionOrSimilarNon12b1FeesOverAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_RiskCaption_3ee7d848-f109-48b7-89f3-b2fc15bb7943_terseLabel_en-US" xlink:label="lab_rr_RiskCaption" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk Caption</link:label>
    <link:label id="lab_rr_RiskCaption_label_en-US" xlink:label="lab_rr_RiskCaption" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Caption</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RiskCaption" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RiskCaption"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RiskCaption" xlink:to="lab_rr_RiskCaption" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000033261Member_da8337a9-d29f-4ea0-b9a0-62e3b666e3cc_terseLabel_en-US" xlink:label="lab_ck0001032423_C000033261Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class I</link:label>
    <link:label id="lab_ck0001032423_C000033261Member_label_en-US" xlink:label="lab_ck0001032423_C000033261Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Select Fund Class I</link:label>
    <link:label id="lab_ck0001032423_C000033261Member_documentation_en-US" xlink:label="lab_ck0001032423_C000033261Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Select Fund Class I, C000033261</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000033261Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000033261Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000033261Member" xlink:to="lab_ck0001032423_C000033261Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000108463Member_a2367f7b-a67e-4c4d-b360-5af7aac96721_terseLabel_en-US" xlink:label="lab_ck0001032423_C000108463Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class Y</link:label>
    <link:label id="lab_ck0001032423_C000108463Member_label_en-US" xlink:label="lab_ck0001032423_C000108463Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Small Cap Fund Class Y</link:label>
    <link:label id="lab_ck0001032423_C000108463Member_documentation_en-US" xlink:label="lab_ck0001032423_C000108463Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Small Cap Fund Class Y, C000108463</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000108463Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000108463Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000108463Member" xlink:to="lab_ck0001032423_C000108463Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_FrontierEmergingMarketsRiskMember_6ba12a2b-701e-4f9b-97ba-fc94d6b4a841_terseLabel_en-US" xlink:label="lab_ck0001032423_FrontierEmergingMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Frontier Emerging Markets Risk Member</link:label>
    <link:label id="lab_ck0001032423_FrontierEmergingMarketsRiskMember_label_en-US" xlink:label="lab_ck0001032423_FrontierEmergingMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Frontier Emerging Markets Risk Member</link:label>
    <link:label id="lab_ck0001032423_FrontierEmergingMarketsRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_FrontierEmergingMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Frontier Emerging Markets Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_FrontierEmergingMarketsRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_FrontierEmergingMarketsRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_FrontierEmergingMarketsRiskMember" xlink:to="lab_ck0001032423_FrontierEmergingMarketsRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleWithRedemptionTableTextBlock_074096eb-10ea-4104-bf1f-b7bbc17e121c_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleWithRedemptionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example, With Redemption [Table]</link:label>
    <link:label id="lab_rr_ExpenseExampleWithRedemptionTableTextBlock_label_en-US" xlink:label="lab_rr_ExpenseExampleWithRedemptionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example, With Redemption [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleWithRedemptionTableTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleWithRedemptionTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleWithRedemptionTableTextBlock" xlink:to="lab_rr_ExpenseExampleWithRedemptionTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_SmallCapAndMidCapCompanyRiskMember_89d38caa-8d8c-4e72-9c03-2e8a6f5622f5_terseLabel_en-US" xlink:label="lab_ck0001032423_SmallCapAndMidCapCompanyRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Small Cap And Mid Cap Company Risk Member</link:label>
    <link:label id="lab_ck0001032423_SmallCapAndMidCapCompanyRiskMember_label_en-US" xlink:label="lab_ck0001032423_SmallCapAndMidCapCompanyRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Small Cap And Mid Cap Company Risk Member</link:label>
    <link:label id="lab_ck0001032423_SmallCapAndMidCapCompanyRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_SmallCapAndMidCapCompanyRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Small Cap And Mid Cap Company Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_SmallCapAndMidCapCompanyRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_SmallCapAndMidCapCompanyRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_SmallCapAndMidCapCompanyRiskMember" xlink:to="lab_ck0001032423_SmallCapAndMidCapCompanyRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_Component3OtherExpensesOverAssets_e07c73d0-33d6-454b-a81d-6e3798e7c5bf_terseLabel_en-US" xlink:label="lab_rr_Component3OtherExpensesOverAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Component3 Other Expenses</link:label>
    <link:label id="lab_rr_Component3OtherExpensesOverAssets_label_en-US" xlink:label="lab_rr_Component3OtherExpensesOverAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Component3 Other Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_Component3OtherExpensesOverAssets" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_Component3OtherExpensesOverAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_Component3OtherExpensesOverAssets" xlink:to="lab_rr_Component3OtherExpensesOverAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_OtherExpensesNewFundBasedOnEstimates_fcdda586-b55a-4f6a-8df7-aac78539e500_terseLabel_en-US" xlink:label="lab_rr_OtherExpensesNewFundBasedOnEstimates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Expenses, New Fund, Based on Estimates [Text]</link:label>
    <link:label id="lab_rr_OtherExpensesNewFundBasedOnEstimates_label_en-US" xlink:label="lab_rr_OtherExpensesNewFundBasedOnEstimates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Expenses, New Fund, Based on Estimates [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_OtherExpensesNewFundBasedOnEstimates" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_OtherExpensesNewFundBasedOnEstimates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_OtherExpensesNewFundBasedOnEstimates" xlink:to="lab_rr_OtherExpensesNewFundBasedOnEstimates" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_HighYieldSecuritiesRiskMember_88851ade-73b1-49cf-8959-40cb41a89600_terseLabel_en-US" xlink:label="lab_ck0001032423_HighYieldSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">High Yield Securities Risk Member</link:label>
    <link:label id="lab_ck0001032423_HighYieldSecuritiesRiskMember_label_en-US" xlink:label="lab_ck0001032423_HighYieldSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">High Yield Securities Risk Member</link:label>
    <link:label id="lab_ck0001032423_HighYieldSecuritiesRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_HighYieldSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">High Yield Securities Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_HighYieldSecuritiesRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_HighYieldSecuritiesRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_HighYieldSecuritiesRiskMember" xlink:to="lab_ck0001032423_HighYieldSecuritiesRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseBreakpointDiscounts_f8b36def-c07b-439d-a94a-58236fca0eb6_terseLabel_en-US" xlink:label="lab_rr_ExpenseBreakpointDiscounts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Breakpoint Discounts [Text]</link:label>
    <link:label id="lab_rr_ExpenseBreakpointDiscounts_label_en-US" xlink:label="lab_rr_ExpenseBreakpointDiscounts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Breakpoint Discounts [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseBreakpointDiscounts" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseBreakpointDiscounts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseBreakpointDiscounts" xlink:to="lab_rr_ExpenseBreakpointDiscounts" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_IndexNoDeductionForFeesExpensesTaxes_976981a0-0053-4eca-ba4d-b9e9f3707f36_terseLabel_en-US" xlink:label="lab_rr_IndexNoDeductionForFeesExpensesTaxes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Index No Deduction for Fees, Expenses, Taxes [Text]</link:label>
    <link:label id="lab_rr_IndexNoDeductionForFeesExpensesTaxes_label_en-US" xlink:label="lab_rr_IndexNoDeductionForFeesExpensesTaxes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Index No Deduction for Fees, Expenses, Taxes [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_IndexNoDeductionForFeesExpensesTaxes" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_IndexNoDeductionForFeesExpensesTaxes"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_IndexNoDeductionForFeesExpensesTaxes" xlink:to="lab_rr_IndexNoDeductionForFeesExpensesTaxes" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpensesRepresentBothMasterAndFeeder_1e5a5862-151b-4c84-8b8f-4070bed5ed50_terseLabel_en-US" xlink:label="lab_rr_ExpensesRepresentBothMasterAndFeeder" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses Represent Both Master and Feeder [Text]</link:label>
    <link:label id="lab_rr_ExpensesRepresentBothMasterAndFeeder_label_en-US" xlink:label="lab_rr_ExpensesRepresentBothMasterAndFeeder" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expenses Represent Both Master and Feeder [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpensesRepresentBothMasterAndFeeder" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpensesRepresentBothMasterAndFeeder"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpensesRepresentBothMasterAndFeeder" xlink:to="lab_rr_ExpensesRepresentBothMasterAndFeeder" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000134909Member_124220fc-6e76-4639-bc5d-719e2f63e738_terseLabel_en-US" xlink:label="lab_ck0001032423_C000134909Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class I</link:label>
    <link:label id="lab_ck0001032423_C000134909Member_label_en-US" xlink:label="lab_ck0001032423_C000134909Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Mid Cap Fund Class I</link:label>
    <link:label id="lab_ck0001032423_C000134909Member_documentation_en-US" xlink:label="lab_ck0001032423_C000134909Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Mid Cap Fund Class I, C000134909</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000134909Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000134909Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000134909Member" xlink:to="lab_ck0001032423_C000134909Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_PriceVolatilityRiskMember_b1f6032c-2e9b-4f41-b620-92f545e15ed5_terseLabel_en-US" xlink:label="lab_ck0001032423_PriceVolatilityRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Price Volatility Risk Member</link:label>
    <link:label id="lab_ck0001032423_PriceVolatilityRiskMember_label_en-US" xlink:label="lab_ck0001032423_PriceVolatilityRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Price Volatility Risk Member</link:label>
    <link:label id="lab_ck0001032423_PriceVolatilityRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_PriceVolatilityRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Price Volatility Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_PriceVolatilityRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_PriceVolatilityRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_PriceVolatilityRiskMember" xlink:to="lab_ck0001032423_PriceVolatilityRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_MaximumDeferredSalesChargeOverOfferingPrice_fc4efb92-7f84-48cd-9fe6-7f20fa66d5e6_terseLabel_en-US" xlink:label="lab_rr_MaximumDeferredSalesChargeOverOfferingPrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum Deferred Sales Charge (as a percentage of Offering Price)</link:label>
    <link:label id="lab_rr_MaximumDeferredSalesChargeOverOfferingPrice_label_en-US" xlink:label="lab_rr_MaximumDeferredSalesChargeOverOfferingPrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Deferred Sales Charge (as a percentage of Offering Price)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_MaximumDeferredSalesChargeOverOfferingPrice" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_MaximumDeferredSalesChargeOverOfferingPrice"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_MaximumDeferredSalesChargeOverOfferingPrice" xlink:to="lab_rr_MaximumDeferredSalesChargeOverOfferingPrice" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_InterestRateRiskMember_c129ec47-bc1c-4102-8059-19c5269b696b_terseLabel_en-US" xlink:label="lab_ck0001032423_InterestRateRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Rate Risk Member</link:label>
    <link:label id="lab_ck0001032423_InterestRateRiskMember_label_en-US" xlink:label="lab_ck0001032423_InterestRateRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Risk Member</link:label>
    <link:label id="lab_ck0001032423_InterestRateRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_InterestRateRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Rate Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_InterestRateRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_InterestRateRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_InterestRateRiskMember" xlink:to="lab_ck0001032423_InterestRateRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturnColumnName_fb26553c-d0e3-4e37-ae5b-ebbec32c0d90_terseLabel_en-US" xlink:label="lab_rr_AnnualReturnColumnName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return, Column [Text]</link:label>
    <link:label id="lab_rr_AnnualReturnColumnName_label_en-US" xlink:label="lab_rr_AnnualReturnColumnName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return, Column [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturnColumnName" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturnColumnName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturnColumnName" xlink:to="lab_rr_AnnualReturnColumnName" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformancePastDoesNotIndicateFuture_696026f1-795b-4056-b7b8-766e40a5013e_terseLabel_en-US" xlink:label="lab_rr_PerformancePastDoesNotIndicateFuture" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Past Does Not Indicate Future [Text]</link:label>
    <link:label id="lab_rr_PerformancePastDoesNotIndicateFuture_label_en-US" xlink:label="lab_rr_PerformancePastDoesNotIndicateFuture" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Past Does Not Indicate Future [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformancePastDoesNotIndicateFuture" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformancePastDoesNotIndicateFuture"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformancePastDoesNotIndicateFuture" xlink:to="lab_rr_PerformancePastDoesNotIndicateFuture" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExchangeFeeOverRedemption_a718f92e-6b1f-4915-b27a-568e110643a3_terseLabel_en-US" xlink:label="lab_rr_ExchangeFeeOverRedemption" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchange Fee (as a percentage of Amount Redeemed)</link:label>
    <link:label id="lab_rr_ExchangeFeeOverRedemption_label_en-US" xlink:label="lab_rr_ExchangeFeeOverRedemption" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange Fee (as a percentage of Amount Redeemed)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExchangeFeeOverRedemption" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExchangeFeeOverRedemption"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExchangeFeeOverRedemption" xlink:to="lab_rr_ExchangeFeeOverRedemption" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_RedemptionRiskMember_8129cacf-2e31-4920-a94c-98cc45b2adf3_terseLabel_en-US" xlink:label="lab_ck0001032423_RedemptionRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redemption Risk Member</link:label>
    <link:label id="lab_ck0001032423_RedemptionRiskMember_label_en-US" xlink:label="lab_ck0001032423_RedemptionRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redemption Risk Member</link:label>
    <link:label id="lab_ck0001032423_RedemptionRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_RedemptionRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Redemption Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_RedemptionRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_RedemptionRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_RedemptionRiskMember" xlink:to="lab_ck0001032423_RedemptionRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_EmergingMarketsRiskMember_c27a679e-f928-4347-a6c3-d9104c511b7d_terseLabel_en-US" xlink:label="lab_ck0001032423_EmergingMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Emerging Markets Risk Member</link:label>
    <link:label id="lab_ck0001032423_EmergingMarketsRiskMember_label_en-US" xlink:label="lab_ck0001032423_EmergingMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Emerging Markets Risk Member</link:label>
    <link:label id="lab_ck0001032423_EmergingMarketsRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_EmergingMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Emerging Markets Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_EmergingMarketsRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_EmergingMarketsRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_EmergingMarketsRiskMember" xlink:to="lab_ck0001032423_EmergingMarketsRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ProspectusShareClassAxis_f1badb3a-8a9e-4a56-a42a-84556c041e72_terseLabel_en-US" xlink:label="lab_rr_ProspectusShareClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share Class [Axis]</link:label>
    <link:label id="lab_rr_ProspectusShareClassAxis_label_en-US" xlink:label="lab_rr_ProspectusShareClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ProspectusShareClassAxis" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ProspectusShareClassAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ProspectusShareClassAxis" xlink:to="lab_rr_ProspectusShareClassAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceTableClosingTextBlock_bab26251-12ea-4775-975b-54574a6eb6d2_terseLabel_en-US" xlink:label="lab_rr_PerformanceTableClosingTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Table Closing [Text Block]</link:label>
    <link:label id="lab_rr_PerformanceTableClosingTextBlock_label_en-US" xlink:label="lab_rr_PerformanceTableClosingTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Table Closing [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceTableClosingTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceTableClosingTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceTableClosingTextBlock" xlink:to="lab_rr_PerformanceTableClosingTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000008533Member_0b6bfcd3-b9a8-4b71-b21e-1491e092b528_terseLabel_en-US" xlink:label="lab_ck0001032423_C000008533Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investor</link:label>
    <link:label id="lab_ck0001032423_C000008533Member_label_en-US" xlink:label="lab_ck0001032423_C000008533Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Large Cap Fund Class Investor</link:label>
    <link:label id="lab_ck0001032423_C000008533Member_documentation_en-US" xlink:label="lab_ck0001032423_C000008533Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Large Cap Fund Class Investor, C000008533</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000008533Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000008533Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000008533Member" xlink:to="lab_ck0001032423_C000008533Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000033256Member_e57b4398-149a-4002-b92e-7938d64de8e8_terseLabel_en-US" xlink:label="lab_ck0001032423_C000033256Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investor</link:label>
    <link:label id="lab_ck0001032423_C000033256Member_label_en-US" xlink:label="lab_ck0001032423_C000033256Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Small-Mid Cap Fund Class Investor</link:label>
    <link:label id="lab_ck0001032423_C000033256Member_documentation_en-US" xlink:label="lab_ck0001032423_C000033256Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Small-Mid Cap Fund Class Investor, C000033256</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000033256Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000033256Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000033256Member" xlink:to="lab_ck0001032423_C000033256Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_OperatingExpensesCaption_6c10a593-b0ad-4970-a273-640d62e6d16a_terseLabel_en-US" xlink:label="lab_rr_OperatingExpensesCaption" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Expenses Caption [Text]</link:label>
    <link:label id="lab_rr_OperatingExpensesCaption_label_en-US" xlink:label="lab_rr_OperatingExpensesCaption" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Expenses Caption [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_OperatingExpensesCaption" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_OperatingExpensesCaption"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_OperatingExpensesCaption" xlink:to="lab_rr_OperatingExpensesCaption" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_CurrentMarketEnvironmentRiskMember_9a0687b4-01fa-43ec-a873-442673e0cf82_terseLabel_en-US" xlink:label="lab_ck0001032423_CurrentMarketEnvironmentRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Market Environment Risk Member</link:label>
    <link:label id="lab_ck0001032423_CurrentMarketEnvironmentRiskMember_label_en-US" xlink:label="lab_ck0001032423_CurrentMarketEnvironmentRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Market Environment Risk Member</link:label>
    <link:label id="lab_ck0001032423_CurrentMarketEnvironmentRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_CurrentMarketEnvironmentRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Current Market Environment Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_CurrentMarketEnvironmentRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_CurrentMarketEnvironmentRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_CurrentMarketEnvironmentRiskMember" xlink:to="lab_ck0001032423_CurrentMarketEnvironmentRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_MaximumAccountFeeOverAssets_8e113e4b-3f80-49b4-aa3f-52de9ac1937c_terseLabel_en-US" xlink:label="lab_rr_MaximumAccountFeeOverAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum Account Fee (as a percentage of Assets)</link:label>
    <link:label id="lab_rr_MaximumAccountFeeOverAssets_label_en-US" xlink:label="lab_rr_MaximumAccountFeeOverAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Account Fee (as a percentage of Assets)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_MaximumAccountFeeOverAssets" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_MaximumAccountFeeOverAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_MaximumAccountFeeOverAssets" xlink:to="lab_rr_MaximumAccountFeeOverAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualFundOperatingExpensesTableTextBlock_fc2a81e0-c891-4efd-946c-adc0aa089be1_terseLabel_en-US" xlink:label="lab_rr_AnnualFundOperatingExpensesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Fund Operating Expenses [Table]</link:label>
    <link:label id="lab_rr_AnnualFundOperatingExpensesTableTextBlock_label_en-US" xlink:label="lab_rr_AnnualFundOperatingExpensesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Fund Operating Expenses [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualFundOperatingExpensesTableTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualFundOperatingExpensesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualFundOperatingExpensesTableTextBlock" xlink:to="lab_rr_AnnualFundOperatingExpensesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceNarrativeTextBlock_34fd6954-cbad-4e90-84c0-3bc71b57cee4_terseLabel_en-US" xlink:label="lab_rr_PerformanceNarrativeTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Narrative [Text Block]</link:label>
    <link:label id="lab_rr_PerformanceNarrativeTextBlock_label_en-US" xlink:label="lab_rr_PerformanceNarrativeTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Narrative [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceNarrativeTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceNarrativeTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceNarrativeTextBlock" xlink:to="lab_rr_PerformanceNarrativeTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_MoneyMarketSevenDayYieldCaption_edcedaf3-293a-43d3-bb06-853c02055ba6_terseLabel_en-US" xlink:label="lab_rr_MoneyMarketSevenDayYieldCaption" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Money Market Seven Day Yield, Caption [Text]</link:label>
    <link:label id="lab_rr_MoneyMarketSevenDayYieldCaption_label_en-US" xlink:label="lab_rr_MoneyMarketSevenDayYieldCaption" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Money Market Seven Day Yield, Caption [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_MoneyMarketSevenDayYieldCaption" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_MoneyMarketSevenDayYieldCaption"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_MoneyMarketSevenDayYieldCaption" xlink:to="lab_rr_MoneyMarketSevenDayYieldCaption" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceTableMarketIndexChanged_487a4b15-2b36-4d21-9ca4-a4b9b7f8ed41_terseLabel_en-US" xlink:label="lab_rr_PerformanceTableMarketIndexChanged" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Table Market Index Changed</link:label>
    <link:label id="lab_rr_PerformanceTableMarketIndexChanged_label_en-US" xlink:label="lab_rr_PerformanceTableMarketIndexChanged" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Table Market Index Changed</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceTableMarketIndexChanged" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceTableMarketIndexChanged"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceTableMarketIndexChanged" xlink:to="lab_rr_PerformanceTableMarketIndexChanged" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityInvCompanyType_3cfef183-74b9-4bcd-bed8-14705f5b7ea6_terseLabel_en-US" xlink:label="lab_dei_EntityInvCompanyType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Inv Company Type</link:label>
    <link:label id="lab_dei_EntityInvCompanyType_label_en-US" xlink:label="lab_dei_EntityInvCompanyType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Inv Company Type</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityInvCompanyType" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityInvCompanyType"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInvCompanyType" xlink:to="lab_dei_EntityInvCompanyType" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_REITsRiskMember_9e2414d5-7b5e-4e08-bab9-2a60ab6f9bcc_terseLabel_en-US" xlink:label="lab_ck0001032423_REITsRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">REITs Risk Member</link:label>
    <link:label id="lab_ck0001032423_REITsRiskMember_label_en-US" xlink:label="lab_ck0001032423_REITsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">REITs Risk Member</link:label>
    <link:label id="lab_ck0001032423_REITsRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_REITsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">REITs Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_REITsRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_REITsRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_REITsRiskMember" xlink:to="lab_ck0001032423_REITsRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleNoRedemptionYear10_a8114b23-a5c2-483f-b536-2c2d43e945a4_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleNoRedemptionYear10" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example, No Redemption, 10 Years</link:label>
    <link:label id="lab_rr_ExpenseExampleNoRedemptionYear10_label_en-US" xlink:label="lab_rr_ExpenseExampleNoRedemptionYear10" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example, No Redemption, 10 Years</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleNoRedemptionYear10" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleNoRedemptionYear10"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleNoRedemptionYear10" xlink:to="lab_rr_ExpenseExampleNoRedemptionYear10" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000008535Member_130ca6c3-c2c4-4141-82ef-a0f6a153b7c4_terseLabel_en-US" xlink:label="lab_ck0001032423_C000008535Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class I</link:label>
    <link:label id="lab_ck0001032423_C000008535Member_label_en-US" xlink:label="lab_ck0001032423_C000008535Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Large Cap Fund Class I</link:label>
    <link:label id="lab_ck0001032423_C000008535Member_documentation_en-US" xlink:label="lab_ck0001032423_C000008535Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Large Cap Fund Class I, C000008535</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000008535Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000008535Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000008535Member" xlink:to="lab_ck0001032423_C000008535Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ThirtyDayTaxEquivalentYield_aed3f5b3-07c7-48bc-8482-da241f41189e_terseLabel_en-US" xlink:label="lab_rr_ThirtyDayTaxEquivalentYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thirty Day Tax Equivalent Yield</link:label>
    <link:label id="lab_rr_ThirtyDayTaxEquivalentYield_label_en-US" xlink:label="lab_rr_ThirtyDayTaxEquivalentYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Thirty Day Tax Equivalent Yield</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ThirtyDayTaxEquivalentYield" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ThirtyDayTaxEquivalentYield"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ThirtyDayTaxEquivalentYield" xlink:to="lab_rr_ThirtyDayTaxEquivalentYield" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_RedemptionFeeOverRedemption_57d88a6a-e260-482b-9e63-0fc229ff794b_terseLabel_en-US" xlink:label="lab_rr_RedemptionFeeOverRedemption" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redemption Fee (as a percentage of Amount Redeemed)</link:label>
    <link:label id="lab_rr_RedemptionFeeOverRedemption_label_en-US" xlink:label="lab_rr_RedemptionFeeOverRedemption" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redemption Fee (as a percentage of Amount Redeemed)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RedemptionFeeOverRedemption" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RedemptionFeeOverRedemption"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RedemptionFeeOverRedemption" xlink:to="lab_rr_RedemptionFeeOverRedemption" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_MarketIndexPerformanceTableTextBlock_43a455ce-e9e2-4f00-bdf4-4b7049e7fffd_terseLabel_en-US" xlink:label="lab_rr_MarketIndexPerformanceTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Market Index Performance [Table]</link:label>
    <link:label id="lab_rr_MarketIndexPerformanceTableTextBlock_label_en-US" xlink:label="lab_rr_MarketIndexPerformanceTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Market Index Performance [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_MarketIndexPerformanceTableTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_MarketIndexPerformanceTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_MarketIndexPerformanceTableTextBlock" xlink:to="lab_rr_MarketIndexPerformanceTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_FinancialSectorRiskMember_b9e3763a-6d1e-4a61-a6ca-70278b32dd39_terseLabel_en-US" xlink:label="lab_ck0001032423_FinancialSectorRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial Sector Risk Member</link:label>
    <link:label id="lab_ck0001032423_FinancialSectorRiskMember_label_en-US" xlink:label="lab_ck0001032423_FinancialSectorRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Sector Risk Member</link:label>
    <link:label id="lab_ck0001032423_FinancialSectorRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_FinancialSectorRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financial Sector Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_FinancialSectorRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_FinancialSectorRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_FinancialSectorRiskMember" xlink:to="lab_ck0001032423_FinancialSectorRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_S000003156Member_63c101a4-7ea3-4836-8d63-f7df09b4d92d_terseLabel_en-US" xlink:label="lab_ck0001032423_S000003156Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diamond Hill Long-Short Fund</link:label>
    <link:label id="lab_ck0001032423_S000003156Member_label_en-US" xlink:label="lab_ck0001032423_S000003156Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Long-Short Fund</link:label>
    <link:label id="lab_ck0001032423_S000003156Member_documentation_en-US" xlink:label="lab_ck0001032423_S000003156Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Long-Short Fund, S000003156</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_S000003156Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_S000003156Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_S000003156Member" xlink:to="lab_ck0001032423_S000003156Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AverageAnnualReturnYear01_4efa5d96-3046-4292-acd5-c29798f4f065_terseLabel_en-US" xlink:label="lab_rr_AverageAnnualReturnYear01" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">1 Year</link:label>
    <link:label id="lab_rr_AverageAnnualReturnYear01_label_en-US" xlink:label="lab_rr_AverageAnnualReturnYear01" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">1 Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AverageAnnualReturnYear01" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AverageAnnualReturnYear01"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AverageAnnualReturnYear01" xlink:to="lab_rr_AverageAnnualReturnYear01" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_BarChartLowestQuarterlyReturn_f0cf748e-ae95-4f16-88ec-2764f8567bb5_terseLabel_en-US" xlink:label="lab_rr_BarChartLowestQuarterlyReturn" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lowest Quarterly Return</link:label>
    <link:label id="lab_rr_BarChartLowestQuarterlyReturn_label_en-US" xlink:label="lab_rr_BarChartLowestQuarterlyReturn" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lowest Quarterly Return</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_BarChartLowestQuarterlyReturn" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_BarChartLowestQuarterlyReturn"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_BarChartLowestQuarterlyReturn" xlink:to="lab_rr_BarChartLowestQuarterlyReturn" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleNoRedemptionYear05_b6cc216b-b052-456a-b6f1-42e49c481967_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleNoRedemptionYear05" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example, No Redemption, 5 Years</link:label>
    <link:label id="lab_rr_ExpenseExampleNoRedemptionYear05_label_en-US" xlink:label="lab_rr_ExpenseExampleNoRedemptionYear05" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example, No Redemption, 5 Years</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleNoRedemptionYear05" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleNoRedemptionYear05"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleNoRedemptionYear05" xlink:to="lab_rr_ExpenseExampleNoRedemptionYear05" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AverageAnnualReturnYear05_25e4a773-35bb-41d0-b5c0-8ec02f2d01ba_terseLabel_en-US" xlink:label="lab_rr_AverageAnnualReturnYear05" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">5 Years</link:label>
    <link:label id="lab_rr_AverageAnnualReturnYear05_label_en-US" xlink:label="lab_rr_AverageAnnualReturnYear05" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">5 Years</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AverageAnnualReturnYear05" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AverageAnnualReturnYear05"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AverageAnnualReturnYear05" xlink:to="lab_rr_AverageAnnualReturnYear05" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000108465Member_7a54f8f1-58b1-4b56-9226-451f3d0d581f_terseLabel_en-US" xlink:label="lab_ck0001032423_C000108465Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class Y</link:label>
    <link:label id="lab_ck0001032423_C000108465Member_label_en-US" xlink:label="lab_ck0001032423_C000108465Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Long-Short Fund Class Y</link:label>
    <link:label id="lab_ck0001032423_C000108465Member_documentation_en-US" xlink:label="lab_ck0001032423_C000108465Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Long-Short Fund Class Y, C000108465</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000108465Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000108465Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000108465Member" xlink:to="lab_ck0001032423_C000108465Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ThirtyDayYield_83e2e093-742c-4666-91bf-80d8d1dbfe8d_terseLabel_en-US" xlink:label="lab_rr_ThirtyDayYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thirty Day Yield</link:label>
    <link:label id="lab_rr_ThirtyDayYield_label_en-US" xlink:label="lab_rr_ThirtyDayYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Thirty Day Yield</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ThirtyDayYield" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ThirtyDayYield"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ThirtyDayYield" xlink:to="lab_rr_ThirtyDayYield" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentDomain_6c5d6301-1c15-49a7-ac9c-71484d19b5b8_terseLabel_en-US" xlink:label="lab_dei_DocumentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prospectus</link:label>
    <link:label id="lab_dei_DocumentDomain_label_en-US" xlink:label="lab_dei_DocumentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prospectus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentDomain" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentDomain" xlink:to="lab_dei_DocumentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_OtherExpensesOverAssets_6763c1ea-63ca-45c6-afc6-04f97134dfb6_totalLabel_en-US" xlink:label="lab_rr_OtherExpensesOverAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other Expenses (as a percentage of Assets):</link:label>
    <link:label id="lab_rr_OtherExpensesOverAssets_label_en-US" xlink:label="lab_rr_OtherExpensesOverAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Expenses (as a percentage of Assets):</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_OtherExpensesOverAssets" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_OtherExpensesOverAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_OtherExpensesOverAssets" xlink:to="lab_rr_OtherExpensesOverAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_RiskTextBlock_b0b6d3a2-3312-40f9-8eb1-9bf97cfac4f6_terseLabel_en-US" xlink:label="lab_rr_RiskTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk [Text Block]</link:label>
    <link:label id="lab_rr_RiskTextBlock_label_en-US" xlink:label="lab_rr_RiskTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RiskTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RiskTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RiskTextBlock" xlink:to="lab_rr_RiskTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AfterTaxesOnDistributionsAndSalesMember_c3914b4a-ca3a-408c-9aa7-f1f7bd9da7d9_terseLabel_en-US" xlink:label="lab_rr_AfterTaxesOnDistributionsAndSalesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">After Taxes on Distributions and Sales</link:label>
    <link:label id="lab_rr_AfterTaxesOnDistributionsAndSalesMember_label_en-US" xlink:label="lab_rr_AfterTaxesOnDistributionsAndSalesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">After Taxes on Distributions and Sales</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AfterTaxesOnDistributionsAndSalesMember" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AfterTaxesOnDistributionsAndSalesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AfterTaxesOnDistributionsAndSalesMember" xlink:to="lab_rr_AfterTaxesOnDistributionsAndSalesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_MSCIACWIexUSAIndexMember_14814c35-fa39-4c84-9a46-abf4fb632e2a_terseLabel_en-US" xlink:label="lab_ck0001032423_MSCIACWIexUSAIndexMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MSCI ACWI ex USA Index</link:label>
    <link:label id="lab_ck0001032423_MSCIACWIexUSAIndexMember_label_en-US" xlink:label="lab_ck0001032423_MSCIACWIexUSAIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MSCI ACWI ex USA Index</link:label>
    <link:label id="lab_ck0001032423_MSCIACWIexUSAIndexMember_documentation_en-US" xlink:label="lab_ck0001032423_MSCIACWIexUSAIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">MSCI ACWI ex USA Index</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_MSCIACWIexUSAIndexMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_MSCIACWIexUSAIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_MSCIACWIexUSAIndexMember" xlink:to="lab_ck0001032423_MSCIACWIexUSAIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseNarrativeTextBlock_11527667-a17a-4f77-981f-06fb831101a1_terseLabel_en-US" xlink:label="lab_rr_ExpenseNarrativeTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Narrative [Text Block]</link:label>
    <link:label id="lab_rr_ExpenseNarrativeTextBlock_label_en-US" xlink:label="lab_rr_ExpenseNarrativeTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Narrative [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseNarrativeTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseNarrativeTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseNarrativeTextBlock" xlink:to="lab_rr_ExpenseNarrativeTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ProspectusLineItems_ea62b2eb-a9c5-443a-845d-7048d540c7c9_terseLabel_en-US" xlink:label="lab_rr_ProspectusLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prospectus [Line Items]</link:label>
    <link:label id="lab_rr_ProspectusLineItems_label_en-US" xlink:label="lab_rr_ProspectusLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prospectus [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ProspectusLineItems" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ProspectusLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ProspectusLineItems" xlink:to="lab_rr_ProspectusLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceMeasureAxis_b6d3bd2d-fcd0-4c00-8096-e58cc57e4789_terseLabel_en-US" xlink:label="lab_rr_PerformanceMeasureAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Measure [Axis]</link:label>
    <link:label id="lab_rr_PerformanceMeasureAxis_label_en-US" xlink:label="lab_rr_PerformanceMeasureAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Measure [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceMeasureAxis" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceMeasureAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceMeasureAxis" xlink:to="lab_rr_PerformanceMeasureAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_MaximumCumulativeSalesChargeOverOfferingPrice_14519076-f98e-4eb9-9230-88b996ac17b8_terseLabel_en-US" xlink:label="lab_rr_MaximumCumulativeSalesChargeOverOfferingPrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum Cumulative Sales Charge (as a percentage of Offering Price)</link:label>
    <link:label id="lab_rr_MaximumCumulativeSalesChargeOverOfferingPrice_label_en-US" xlink:label="lab_rr_MaximumCumulativeSalesChargeOverOfferingPrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Cumulative Sales Charge (as a percentage of Offering Price)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_MaximumCumulativeSalesChargeOverOfferingPrice" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_MaximumCumulativeSalesChargeOverOfferingPrice"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_MaximumCumulativeSalesChargeOverOfferingPrice" xlink:to="lab_rr_MaximumCumulativeSalesChargeOverOfferingPrice" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_Component2OtherExpensesOverAssets_c0906405-d271-4d63-8d0e-3cfa0e323689_verboseLabel_en-US" xlink:label="lab_rr_Component2OtherExpensesOverAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Component2 Other Expenses</link:label>
    <link:label id="lab_rr_Component2OtherExpensesOverAssets_label_en-US" xlink:label="lab_rr_Component2OtherExpensesOverAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Component2 Other Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_Component2OtherExpensesOverAssets" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_Component2OtherExpensesOverAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_Component2OtherExpensesOverAssets" xlink:to="lab_rr_Component2OtherExpensesOverAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_GrowthStocksRiskMember_1d60d743-b12d-44e4-b690-d2b3cd3121fc_terseLabel_en-US" xlink:label="lab_ck0001032423_GrowthStocksRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Growth Stocks Risk Member</link:label>
    <link:label id="lab_ck0001032423_GrowthStocksRiskMember_label_en-US" xlink:label="lab_ck0001032423_GrowthStocksRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Growth Stocks Risk Member</link:label>
    <link:label id="lab_ck0001032423_GrowthStocksRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_GrowthStocksRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Growth Stocks Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_GrowthStocksRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_GrowthStocksRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_GrowthStocksRiskMember" xlink:to="lab_ck0001032423_GrowthStocksRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_S000043502Member_c8efa678-e5a7-420d-9d60-def1ee37fa83_terseLabel_en-US" xlink:label="lab_ck0001032423_S000043502Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diamond Hill Mid Cap Fund</link:label>
    <link:label id="lab_ck0001032423_S000043502Member_label_en-US" xlink:label="lab_ck0001032423_S000043502Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Mid Cap Fund</link:label>
    <link:label id="lab_ck0001032423_S000043502Member_documentation_en-US" xlink:label="lab_ck0001032423_S000043502Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Mid Cap Fund, S000043502</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_S000043502Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_S000043502Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_S000043502Member" xlink:to="lab_ck0001032423_S000043502Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000227094Member_4336b401-b50f-487d-8a6b-2043c6d5b5b7_terseLabel_en-US" xlink:label="lab_ck0001032423_C000227094Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class Y</link:label>
    <link:label id="lab_ck0001032423_C000227094Member_label_en-US" xlink:label="lab_ck0001032423_C000227094Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Large Cap Concentrated Fund Class Y</link:label>
    <link:label id="lab_ck0001032423_C000227094Member_documentation_en-US" xlink:label="lab_ck0001032423_C000227094Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">C000227094 Diamond Hill Large Cap Concentrated Fund Class Y DHFYX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000227094Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000227094Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000227094Member" xlink:to="lab_ck0001032423_C000227094Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AverageAnnualReturnYear10_95b05f9c-e878-4023-ab60-50701c7c821d_terseLabel_en-US" xlink:label="lab_rr_AverageAnnualReturnYear10" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">10 Years</link:label>
    <link:label id="lab_rr_AverageAnnualReturnYear10_label_en-US" xlink:label="lab_rr_AverageAnnualReturnYear10" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">10 Years</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AverageAnnualReturnYear10" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AverageAnnualReturnYear10"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AverageAnnualReturnYear10" xlink:to="lab_rr_AverageAnnualReturnYear10" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_MarketRiskMember_c5bb605c-a0b9-4964-9c94-ab825b8d8c53_terseLabel_en-US" xlink:label="lab_ck0001032423_MarketRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Market Risk Member</link:label>
    <link:label id="lab_ck0001032423_MarketRiskMember_label_en-US" xlink:label="lab_ck0001032423_MarketRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Market Risk Member</link:label>
    <link:label id="lab_ck0001032423_MarketRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_MarketRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Market Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_MarketRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_MarketRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_MarketRiskMember" xlink:to="lab_ck0001032423_MarketRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentType_597f4c7c-847d-4300-983d-e727d489fbbd_terseLabel_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:label id="lab_dei_DocumentType_label_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType" xlink:to="lab_dei_DocumentType" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_RiskNotInsuredDepositoryInstitutionMember_bb7b1b5d-f551-4469-84de-51c3e0f6539a_terseLabel_en-US" xlink:label="lab_rr_RiskNotInsuredDepositoryInstitutionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk Not Insured Depository Institution [Member]</link:label>
    <link:label id="lab_rr_RiskNotInsuredDepositoryInstitutionMember_label_en-US" xlink:label="lab_rr_RiskNotInsuredDepositoryInstitutionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Not Insured Depository Institution [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RiskNotInsuredDepositoryInstitutionMember" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RiskNotInsuredDepositoryInstitutionMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RiskNotInsuredDepositoryInstitutionMember" xlink:to="lab_rr_RiskNotInsuredDepositoryInstitutionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_DepositaryReceiptsRiskMember_6c047475-1abd-4e86-a205-58719fc2aabc_terseLabel_en-US" xlink:label="lab_ck0001032423_DepositaryReceiptsRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depositary Receipts Risk Member</link:label>
    <link:label id="lab_ck0001032423_DepositaryReceiptsRiskMember_label_en-US" xlink:label="lab_ck0001032423_DepositaryReceiptsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depositary Receipts Risk Member</link:label>
    <link:label id="lab_ck0001032423_DepositaryReceiptsRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_DepositaryReceiptsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Depositary Receipts Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_DepositaryReceiptsRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_DepositaryReceiptsRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_DepositaryReceiptsRiskMember" xlink:to="lab_ck0001032423_DepositaryReceiptsRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_StrategyHeading_83a98dd0-f55a-4af2-973b-6117238787d5_terseLabel_en-US" xlink:label="lab_rr_StrategyHeading" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Strategy [Heading]</link:label>
    <link:label id="lab_rr_StrategyHeading_label_en-US" xlink:label="lab_rr_StrategyHeading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Strategy [Heading]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_StrategyHeading" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_StrategyHeading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_StrategyHeading" xlink:to="lab_rr_StrategyHeading" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_RussellMidcapIndexMember_bd15ec7b-4fc8-443d-a74c-a1557d816455_terseLabel_en-US" xlink:label="lab_ck0001032423_RussellMidcapIndexMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Russell Midcap Index</link:label>
    <link:label id="lab_ck0001032423_RussellMidcapIndexMember_label_en-US" xlink:label="lab_ck0001032423_RussellMidcapIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Russell Midcap Index</link:label>
    <link:label id="lab_ck0001032423_RussellMidcapIndexMember_documentation_en-US" xlink:label="lab_ck0001032423_RussellMidcapIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Russell Midcap Index</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_RussellMidcapIndexMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_RussellMidcapIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_RussellMidcapIndexMember" xlink:to="lab_ck0001032423_RussellMidcapIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000254400Member_7e140526-dc00-4ea9-b8a6-7dbd5d403aed_terseLabel_en-US" xlink:label="lab_ck0001032423_C000254400Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investor</link:label>
    <link:label id="lab_ck0001032423_C000254400Member_label_en-US" xlink:label="lab_ck0001032423_C000254400Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Plus Bond Fund Class Investor</link:label>
    <link:label id="lab_ck0001032423_C000254400Member_documentation_en-US" xlink:label="lab_ck0001032423_C000254400Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Plus Bond Fund Class Investor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000254400Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000254400Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000254400Member" xlink:to="lab_ck0001032423_C000254400Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000173085Member_f81ce199-b342-44d8-9256-0841b134d363_terseLabel_en-US" xlink:label="lab_ck0001032423_C000173085Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class Y</link:label>
    <link:label id="lab_ck0001032423_C000173085Member_label_en-US" xlink:label="lab_ck0001032423_C000173085Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Short Duration Securitized Bond Fund Class Y</link:label>
    <link:label id="lab_ck0001032423_C000173085Member_documentation_en-US" xlink:label="lab_ck0001032423_C000173085Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Short Duration Securitized Bond Fund Class Y, C000173085</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000173085Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000173085Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000173085Member" xlink:to="lab_ck0001032423_C000173085Member" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityRegistrantName_b0f78032-d750-4f79-803e-83b87de8f21d_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Registrant Name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_label_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Registrant Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName" xlink:to="lab_dei_EntityRegistrantName" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_RussellThousandIndexMember_18f49061-f78f-4b0a-9747-50f17ea697d8_terseLabel_en-US" xlink:label="lab_ck0001032423_RussellThousandIndexMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Russell 1000 Index</link:label>
    <link:label id="lab_ck0001032423_RussellThousandIndexMember_label_en-US" xlink:label="lab_ck0001032423_RussellThousandIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Russell 1000 Index</link:label>
    <link:label id="lab_ck0001032423_RussellThousandIndexMember_documentation_en-US" xlink:label="lab_ck0001032423_RussellThousandIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Russell 1000 Index</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_RussellThousandIndexMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_RussellThousandIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_RussellThousandIndexMember" xlink:to="lab_ck0001032423_RussellThousandIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_BarChartDoesNotReflectSalesLoads_9e7569d3-acb2-4b18-aa8a-963eecc5218e_terseLabel_en-US" xlink:label="lab_rr_BarChartDoesNotReflectSalesLoads" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bar Chart Does Not Reflect Sales Loads [Text]</link:label>
    <link:label id="lab_rr_BarChartDoesNotReflectSalesLoads_label_en-US" xlink:label="lab_rr_BarChartDoesNotReflectSalesLoads" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bar Chart Does Not Reflect Sales Loads [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_BarChartDoesNotReflectSalesLoads" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_BarChartDoesNotReflectSalesLoads"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_BarChartDoesNotReflectSalesLoads" xlink:to="lab_rr_BarChartDoesNotReflectSalesLoads" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_S000055043Member_313090d5-b3d1-4fa7-a99f-2672da917616_terseLabel_en-US" xlink:label="lab_ck0001032423_S000055043Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diamond Hill Short Duration Securitized Bond Fund</link:label>
    <link:label id="lab_ck0001032423_S000055043Member_label_en-US" xlink:label="lab_ck0001032423_S000055043Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Short Duration Securitized Bond Fund</link:label>
    <link:label id="lab_ck0001032423_S000055043Member_documentation_en-US" xlink:label="lab_ck0001032423_S000055043Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Short Duration Securitized Bond Fund, S000055043</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_S000055043Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_S000055043Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_S000055043Member" xlink:to="lab_ck0001032423_S000055043Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_NetExpensesOverAssets_4e3324c7-cd2d-4554-a7db-a7b4bf9dcb3a_terseLabel_en-US" xlink:label="lab_rr_NetExpensesOverAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Expenses (as a percentage of Assets)</link:label>
    <link:label id="lab_rr_NetExpensesOverAssets_label_en-US" xlink:label="lab_rr_NetExpensesOverAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Expenses (as a percentage of Assets)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_NetExpensesOverAssets" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_NetExpensesOverAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_NetExpensesOverAssets" xlink:to="lab_rr_NetExpensesOverAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_RiskLoseMoneyMember_092ce69e-284c-4f1f-b40d-aff708735730_terseLabel_en-US" xlink:label="lab_rr_RiskLoseMoneyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk Lose Money [Member]</link:label>
    <link:label id="lab_rr_RiskLoseMoneyMember_label_en-US" xlink:label="lab_rr_RiskLoseMoneyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Lose Money [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RiskLoseMoneyMember" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RiskLoseMoneyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RiskLoseMoneyMember" xlink:to="lab_rr_RiskLoseMoneyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000033258Member_b1f3c583-55f0-4e7e-a8e0-aa455b826781_terseLabel_en-US" xlink:label="lab_ck0001032423_C000033258Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class I</link:label>
    <link:label id="lab_ck0001032423_C000033258Member_label_en-US" xlink:label="lab_ck0001032423_C000033258Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Small-Mid Cap Fund Class I</link:label>
    <link:label id="lab_ck0001032423_C000033258Member_documentation_en-US" xlink:label="lab_ck0001032423_C000033258Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Small-Mid Cap Fund Class I, C000033258</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000033258Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000033258Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000033258Member" xlink:to="lab_ck0001032423_C000033258Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceTableNotRelevantToTaxDeferred_d46104aa-2c8c-460b-b7b5-7a78025bdc3e_terseLabel_en-US" xlink:label="lab_rr_PerformanceTableNotRelevantToTaxDeferred" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Table Not Relevant to Tax Deferred</link:label>
    <link:label id="lab_rr_PerformanceTableNotRelevantToTaxDeferred_label_en-US" xlink:label="lab_rr_PerformanceTableNotRelevantToTaxDeferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Table Not Relevant to Tax Deferred</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceTableNotRelevantToTaxDeferred" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceTableNotRelevantToTaxDeferred"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceTableNotRelevantToTaxDeferred" xlink:to="lab_rr_PerformanceTableNotRelevantToTaxDeferred" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000008530Member_3f4b949e-e1db-4120-b8e7-39052e64a289_terseLabel_en-US" xlink:label="lab_ck0001032423_C000008530Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investor</link:label>
    <link:label id="lab_ck0001032423_C000008530Member_label_en-US" xlink:label="lab_ck0001032423_C000008530Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Small Cap Fund Class Investor</link:label>
    <link:label id="lab_ck0001032423_C000008530Member_documentation_en-US" xlink:label="lab_ck0001032423_C000008530Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Small Cap Fund Class Investor, C000008530</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000008530Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000008530Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000008530Member" xlink:to="lab_ck0001032423_C000008530Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_DistributionAndService12b1FeesOverAssets_78fc3318-521c-4f25-9dce-3fb1d2d54010_terseLabel_en-US" xlink:label="lab_rr_DistributionAndService12b1FeesOverAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution and Service (12b-1) Fees</link:label>
    <link:label id="lab_rr_DistributionAndService12b1FeesOverAssets_label_en-US" xlink:label="lab_rr_DistributionAndService12b1FeesOverAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution and Service (12b-1) Fees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_DistributionAndService12b1FeesOverAssets" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_DistributionAndService12b1FeesOverAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_DistributionAndService12b1FeesOverAssets" xlink:to="lab_rr_DistributionAndService12b1FeesOverAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceTableTextBlock_6c500e0c-0e11-4f22-a1ff-232b553c1b45_terseLabel_en-US" xlink:label="lab_rr_PerformanceTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance [Table]</link:label>
    <link:label id="lab_rr_PerformanceTableTextBlock_label_en-US" xlink:label="lab_rr_PerformanceTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceTableTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceTableTextBlock" xlink:to="lab_rr_PerformanceTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentPeriodEndDate_8d714fe1-18a5-457e-b288-4290c8a56d15_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate" xlink:to="lab_dei_DocumentPeriodEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_S000071665Member_57f2984c-f8e9-4dfe-b7fc-8530d65a26ba_terseLabel_en-US" xlink:label="lab_ck0001032423_S000071665Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diamond Hill Large Cap Concentrated Fund</link:label>
    <link:label id="lab_ck0001032423_S000071665Member_label_en-US" xlink:label="lab_ck0001032423_S000071665Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Large Cap Concentrated Fund</link:label>
    <link:label id="lab_ck0001032423_S000071665Member_documentation_en-US" xlink:label="lab_ck0001032423_S000071665Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">S000071665 Diamond Hill Large Cap Concentrated Fund</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_S000071665Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_S000071665Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_S000071665Member" xlink:to="lab_ck0001032423_S000071665Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceInformationIllustratesVariabilityOfReturns_8115b2c5-d577-4492-b457-1f9a653101f1_terseLabel_en-US" xlink:label="lab_rr_PerformanceInformationIllustratesVariabilityOfReturns" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Information Illustrates Variability of Returns [Text]</link:label>
    <link:label id="lab_rr_PerformanceInformationIllustratesVariabilityOfReturns_label_en-US" xlink:label="lab_rr_PerformanceInformationIllustratesVariabilityOfReturns" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Information Illustrates Variability of Returns [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceInformationIllustratesVariabilityOfReturns" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceInformationIllustratesVariabilityOfReturns"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceInformationIllustratesVariabilityOfReturns" xlink:to="lab_rr_PerformanceInformationIllustratesVariabilityOfReturns" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleYear05_ce5ccb4a-271d-4710-8d1b-d5b1227d0f17_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleYear05" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example, with Redemption, 5 Years</link:label>
    <link:label id="lab_rr_ExpenseExampleYear05_label_en-US" xlink:label="lab_rr_ExpenseExampleYear05" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example, with Redemption, 5 Years</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleYear05" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleYear05"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleYear05" xlink:to="lab_rr_ExpenseExampleYear05" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCentralIndexKey_91d541f9-1ee9-4ed7-ae57-ce8ca1365121_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Central Index Key</link:label>
    <link:label id="lab_dei_EntityCentralIndexKey_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey" xlink:to="lab_dei_EntityCentralIndexKey" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleYear03_1fcd17da-9a23-46f1-898b-843d55a693e9_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleYear03" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example, with Redemption, 3 Years</link:label>
    <link:label id="lab_rr_ExpenseExampleYear03_label_en-US" xlink:label="lab_rr_ExpenseExampleYear03" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example, with Redemption, 3 Years</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleYear03" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleYear03"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleYear03" xlink:to="lab_rr_ExpenseExampleYear03" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_ExtensionRiskMember_8bf5a2f7-1d31-43bd-bc3d-f946b70591d8_terseLabel_en-US" xlink:label="lab_ck0001032423_ExtensionRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extension Risk Member</link:label>
    <link:label id="lab_ck0001032423_ExtensionRiskMember_label_en-US" xlink:label="lab_ck0001032423_ExtensionRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extension Risk Member</link:label>
    <link:label id="lab_ck0001032423_ExtensionRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_ExtensionRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Extension Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_ExtensionRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_ExtensionRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_ExtensionRiskMember" xlink:to="lab_ck0001032423_ExtensionRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleYear01_9d87d0a1-51fc-4140-b95c-bc7777363fc2_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleYear01" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example, with Redemption, 1 Year</link:label>
    <link:label id="lab_rr_ExpenseExampleYear01_label_en-US" xlink:label="lab_rr_ExpenseExampleYear01" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example, with Redemption, 1 Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleYear01" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleYear01"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleYear01" xlink:to="lab_rr_ExpenseExampleYear01" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpensesDeferredChargesTextBlock_151f7c33-9ef9-45f2-87ea-a8f9745c4958_terseLabel_en-US" xlink:label="lab_rr_ExpensesDeferredChargesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses Deferred Charges [Text Block]</link:label>
    <link:label id="lab_rr_ExpensesDeferredChargesTextBlock_label_en-US" xlink:label="lab_rr_ExpensesDeferredChargesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expenses Deferred Charges [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpensesDeferredChargesTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpensesDeferredChargesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpensesDeferredChargesTextBlock" xlink:to="lab_rr_ExpensesDeferredChargesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000173086Member_e481a77e-04b3-4e81-b9ae-b2ade7c0690c_terseLabel_en-US" xlink:label="lab_ck0001032423_C000173086Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investor</link:label>
    <link:label id="lab_ck0001032423_C000173086Member_label_en-US" xlink:label="lab_ck0001032423_C000173086Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Bond Fund Class Investor</link:label>
    <link:label id="lab_ck0001032423_C000173086Member_documentation_en-US" xlink:label="lab_ck0001032423_C000173086Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Bond Fund Class Investor, C000173086</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000173086Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000173086Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000173086Member" xlink:to="lab_ck0001032423_C000173086Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_RiskAxis_f9cd1e7f-2cf3-48fb-af96-fbbd99644c6a_terseLabel_en-US" xlink:label="lab_rr_RiskAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk [Axis]</link:label>
    <link:label id="lab_rr_RiskAxis_label_en-US" xlink:label="lab_rr_RiskAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RiskAxis" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RiskAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RiskAxis" xlink:to="lab_rr_RiskAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PortfolioTurnoverTextBlock_395a0a5f-0921-4dcc-b472-7399b5021218_terseLabel_en-US" xlink:label="lab_rr_PortfolioTurnoverTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Portfolio Turnover [Text Block]</link:label>
    <link:label id="lab_rr_PortfolioTurnoverTextBlock_label_en-US" xlink:label="lab_rr_PortfolioTurnoverTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Portfolio Turnover [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PortfolioTurnoverTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PortfolioTurnoverTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PortfolioTurnoverTextBlock" xlink:to="lab_rr_PortfolioTurnoverTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PortfolioTurnoverRate_b144fbb5-eced-4f3c-8876-651ba4eccc66_terseLabel_en-US" xlink:label="lab_rr_PortfolioTurnoverRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Portfolio Turnover, Rate</link:label>
    <link:label id="lab_rr_PortfolioTurnoverRate_label_en-US" xlink:label="lab_rr_PortfolioTurnoverRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Portfolio Turnover, Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PortfolioTurnoverRate" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PortfolioTurnoverRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PortfolioTurnoverRate" xlink:to="lab_rr_PortfolioTurnoverRate" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000008536Member_59b6e177-c6b7-4bc2-b9ae-1ed0844b956f_terseLabel_en-US" xlink:label="lab_ck0001032423_C000008536Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investor</link:label>
    <link:label id="lab_ck0001032423_C000008536Member_label_en-US" xlink:label="lab_ck0001032423_C000008536Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Long-Short Fund Class Investor</link:label>
    <link:label id="lab_ck0001032423_C000008536Member_documentation_en-US" xlink:label="lab_ck0001032423_C000008536Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Long-Short Fund Class Investor, C000008536</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000008536Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000008536Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000008536Member" xlink:to="lab_ck0001032423_C000008536Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_YearToDateReturnLabel_c01f07c7-60b0-4781-8faf-27882a85a3ba_terseLabel_en-US" xlink:label="lab_rr_YearToDateReturnLabel" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year to Date Return, Label</link:label>
    <link:label id="lab_rr_YearToDateReturnLabel_label_en-US" xlink:label="lab_rr_YearToDateReturnLabel" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Year to Date Return, Label</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_YearToDateReturnLabel" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_YearToDateReturnLabel"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_YearToDateReturnLabel" xlink:to="lab_rr_YearToDateReturnLabel" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_ShortSaleRiskMember_09426f92-136e-408f-97bd-2070c9239cc5_terseLabel_en-US" xlink:label="lab_ck0001032423_ShortSaleRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Short Sale Risk Member</link:label>
    <link:label id="lab_ck0001032423_ShortSaleRiskMember_label_en-US" xlink:label="lab_ck0001032423_ShortSaleRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short Sale Risk Member</link:label>
    <link:label id="lab_ck0001032423_ShortSaleRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_ShortSaleRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Short Sale Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_ShortSaleRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_ShortSaleRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_ShortSaleRiskMember" xlink:to="lab_ck0001032423_ShortSaleRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_CollateralizedLoanObligationsCLOsRiskMember_fb3e3cbf-c537-4d44-a1d4-251548954756_terseLabel_en-US" xlink:label="lab_ck0001032423_CollateralizedLoanObligationsCLOsRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligations ("CLOs") Risk Member</link:label>
    <link:label id="lab_ck0001032423_CollateralizedLoanObligationsCLOsRiskMember_label_en-US" xlink:label="lab_ck0001032423_CollateralizedLoanObligationsCLOsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligations ("CLOs") Risk Member</link:label>
    <link:label id="lab_ck0001032423_CollateralizedLoanObligationsCLOsRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_CollateralizedLoanObligationsCLOsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligations ("CLOs") Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_CollateralizedLoanObligationsCLOsRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_CollateralizedLoanObligationsCLOsRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_CollateralizedLoanObligationsCLOsRiskMember" xlink:to="lab_ck0001032423_CollateralizedLoanObligationsCLOsRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_LiquidityRiskMember_4ff0323b-711c-4a64-8c0d-c3c4c5136f68_terseLabel_en-US" xlink:label="lab_ck0001032423_LiquidityRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liquidity Risk Member</link:label>
    <link:label id="lab_ck0001032423_LiquidityRiskMember_label_en-US" xlink:label="lab_ck0001032423_LiquidityRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liquidity Risk Member</link:label>
    <link:label id="lab_ck0001032423_LiquidityRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_LiquidityRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Liquidity Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_LiquidityRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_LiquidityRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_LiquidityRiskMember" xlink:to="lab_ck0001032423_LiquidityRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleNarrativeTextBlock_1331a916-de88-4080-9fc4-6db9b83cd49c_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleNarrativeTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example Narrative [Text Block]</link:label>
    <link:label id="lab_rr_ExpenseExampleNarrativeTextBlock_label_en-US" xlink:label="lab_rr_ExpenseExampleNarrativeTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example Narrative [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleNarrativeTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleNarrativeTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleNarrativeTextBlock" xlink:to="lab_rr_ExpenseExampleNarrativeTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleYear10_c3e97a16-b06f-451c-b459-259673adc5bb_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleYear10" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example, with Redemption, 10 Years</link:label>
    <link:label id="lab_rr_ExpenseExampleYear10_label_en-US" xlink:label="lab_rr_ExpenseExampleYear10" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example, with Redemption, 10 Years</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleYear10" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleYear10"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleYear10" xlink:to="lab_rr_ExpenseExampleYear10" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_S000065011Member_9078bf4a-1ac4-4d47-b8bb-adb8fb02db4b_terseLabel_en-US" xlink:label="lab_ck0001032423_S000065011Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diamond Hill International Fund</link:label>
    <link:label id="lab_ck0001032423_S000065011Member_label_en-US" xlink:label="lab_ck0001032423_S000065011Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill International Fund</link:label>
    <link:label id="lab_ck0001032423_S000065011Member_documentation_en-US" xlink:label="lab_ck0001032423_S000065011Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill International Fund, S000065011</link:label>
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    <link:label id="lab_rr_AllRisksMember_label_en-US" xlink:label="lab_rr_AllRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Risks [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AllRisksMember" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AllRisksMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AllRisksMember" xlink:to="lab_rr_AllRisksMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityDomain_032f5804-7667-4eb7-8275-062eaf47781f_terseLabel_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series</link:label>
    <link:label id="lab_dei_EntityDomain_label_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityDomain" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityDomain" xlink:to="lab_dei_EntityDomain" xlink:type="arc" order="1"/>
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    <link:label id="lab_dei_AmendmentFlag_label_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
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    <link:label id="lab_rr_MoneyMarketSevenDayYieldPhone_label_en-US" xlink:label="lab_rr_MoneyMarketSevenDayYieldPhone" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Money Market Seven Day Yield Phone</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_MoneyMarketSevenDayYieldPhone" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_MoneyMarketSevenDayYieldPhone"/>
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    <link:label id="lab_rr_AcquiredFundFeesAndExpensesBasedOnEstimates_label_en-US" xlink:label="lab_rr_AcquiredFundFeesAndExpensesBasedOnEstimates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquired Fund Fees and Expenses, Based on Estimates [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AcquiredFundFeesAndExpensesBasedOnEstimates" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AcquiredFundFeesAndExpensesBasedOnEstimates"/>
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    <link:label id="lab_dei_LegalEntityAxis_label_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LegalEntityAxis" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LegalEntityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LegalEntityAxis" xlink:to="lab_dei_LegalEntityAxis" xlink:type="arc" order="1"/>
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    <link:label id="lab_rr_ExpenseExampleHeading_label_en-US" xlink:label="lab_rr_ExpenseExampleHeading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example [Heading]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleHeading" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleHeading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleHeading" xlink:to="lab_rr_ExpenseExampleHeading" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_AssetBackedMortgageRelatedAndMortgageBackedSecuritiesRiskMember_d3e917a4-d70e-4de5-a33e-2b5be6c1bf70_terseLabel_en-US" xlink:label="lab_ck0001032423_AssetBackedMortgageRelatedAndMortgageBackedSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset-Backed, Mortgage-Related And Mortgage-Backed Securities Risk Member</link:label>
    <link:label id="lab_ck0001032423_AssetBackedMortgageRelatedAndMortgageBackedSecuritiesRiskMember_label_en-US" xlink:label="lab_ck0001032423_AssetBackedMortgageRelatedAndMortgageBackedSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset-Backed, Mortgage-Related And Mortgage-Backed Securities Risk Member</link:label>
    <link:label id="lab_ck0001032423_AssetBackedMortgageRelatedAndMortgageBackedSecuritiesRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_AssetBackedMortgageRelatedAndMortgageBackedSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset-Backed, Mortgage-Related And Mortgage-Backed Securities Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_AssetBackedMortgageRelatedAndMortgageBackedSecuritiesRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_AssetBackedMortgageRelatedAndMortgageBackedSecuritiesRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_AssetBackedMortgageRelatedAndMortgageBackedSecuritiesRiskMember" xlink:to="lab_ck0001032423_AssetBackedMortgageRelatedAndMortgageBackedSecuritiesRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_RiskHeading_c6e2f73e-12e1-4c10-b49c-106018940ece_terseLabel_en-US" xlink:label="lab_rr_RiskHeading" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk [Heading]</link:label>
    <link:label id="lab_rr_RiskHeading_label_en-US" xlink:label="lab_rr_RiskHeading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk [Heading]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RiskHeading" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RiskHeading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RiskHeading" xlink:to="lab_rr_RiskHeading" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleNoRedemptionNarrativeTextBlock_99eb6238-c026-4acc-9fd9-f6c1ecad72f3_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleNoRedemptionNarrativeTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example, No Redemption Narrative [Text Block]</link:label>
    <link:label id="lab_rr_ExpenseExampleNoRedemptionNarrativeTextBlock_label_en-US" xlink:label="lab_rr_ExpenseExampleNoRedemptionNarrativeTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example, No Redemption Narrative [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleNoRedemptionNarrativeTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleNoRedemptionNarrativeTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleNoRedemptionNarrativeTextBlock" xlink:to="lab_rr_ExpenseExampleNoRedemptionNarrativeTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ThirtyDayYieldPhone_b8b10e68-3143-4e61-b6ba-62b93ef3cbed_terseLabel_en-US" xlink:label="lab_rr_ThirtyDayYieldPhone" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thirty Day Yield Phone</link:label>
    <link:label id="lab_rr_ThirtyDayYieldPhone_label_en-US" xlink:label="lab_rr_ThirtyDayYieldPhone" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Thirty Day Yield Phone</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ThirtyDayYieldPhone" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ThirtyDayYieldPhone"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ThirtyDayYieldPhone" xlink:to="lab_rr_ThirtyDayYieldPhone" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_InflationRiskMember_8e93c6e9-f559-44b0-91b8-aa0f62e4ed80_terseLabel_en-US" xlink:label="lab_ck0001032423_InflationRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inflation Risk Member</link:label>
    <link:label id="lab_ck0001032423_InflationRiskMember_label_en-US" xlink:label="lab_ck0001032423_InflationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inflation Risk Member</link:label>
    <link:label id="lab_ck0001032423_InflationRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_InflationRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Inflation Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_InflationRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_InflationRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_InflationRiskMember" xlink:to="lab_ck0001032423_InflationRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceTableUsesHighestFederalRate_4624ac43-93a6-4417-a15c-5879f902d813_terseLabel_en-US" xlink:label="lab_rr_PerformanceTableUsesHighestFederalRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Table Uses Highest Federal Rate</link:label>
    <link:label id="lab_rr_PerformanceTableUsesHighestFederalRate_label_en-US" xlink:label="lab_rr_PerformanceTableUsesHighestFederalRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Table Uses Highest Federal Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceTableUsesHighestFederalRate" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceTableUsesHighestFederalRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceTableUsesHighestFederalRate" xlink:to="lab_rr_PerformanceTableUsesHighestFederalRate" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_MoneyMarketSevenDayYieldColumnName_ed4cc0c6-ac94-4551-b5a7-bccf349b1d2f_terseLabel_en-US" xlink:label="lab_rr_MoneyMarketSevenDayYieldColumnName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Money Market Seven Day Yield Column [Text]</link:label>
    <link:label id="lab_rr_MoneyMarketSevenDayYieldColumnName_label_en-US" xlink:label="lab_rr_MoneyMarketSevenDayYieldColumnName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Money Market Seven Day Yield Column [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_MoneyMarketSevenDayYieldColumnName" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_MoneyMarketSevenDayYieldColumnName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_MoneyMarketSevenDayYieldColumnName" xlink:to="lab_rr_MoneyMarketSevenDayYieldColumnName" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_BarChartAndPerformanceTableHeading_3e7e6ace-750d-4c6f-9bb8-d179506f1da1_terseLabel_en-US" xlink:label="lab_rr_BarChartAndPerformanceTableHeading" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bar Chart and Performance Table [Heading]</link:label>
    <link:label id="lab_rr_BarChartAndPerformanceTableHeading_label_en-US" xlink:label="lab_rr_BarChartAndPerformanceTableHeading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bar Chart and Performance Table [Heading]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_BarChartAndPerformanceTableHeading" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_BarChartAndPerformanceTableHeading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_BarChartAndPerformanceTableHeading" xlink:to="lab_rr_BarChartAndPerformanceTableHeading" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_CreditRiskMember_1d6aef65-64ce-4216-83b4-185d97a13a56_terseLabel_en-US" xlink:label="lab_ck0001032423_CreditRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Risk Member</link:label>
    <link:label id="lab_ck0001032423_CreditRiskMember_label_en-US" xlink:label="lab_ck0001032423_CreditRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Risk Member</link:label>
    <link:label id="lab_ck0001032423_CreditRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_CreditRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Credit Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_CreditRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_CreditRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_CreditRiskMember" xlink:to="lab_ck0001032423_CreditRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_ESGIntegrationRiskMember_51604986-1c9a-4f64-a35f-5195284ba283_terseLabel_en-US" xlink:label="lab_ck0001032423_ESGIntegrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ESG Integration Risk Member</link:label>
    <link:label id="lab_ck0001032423_ESGIntegrationRiskMember_label_en-US" xlink:label="lab_ck0001032423_ESGIntegrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ESG Integration Risk Member</link:label>
    <link:label id="lab_ck0001032423_ESGIntegrationRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_ESGIntegrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">ESG Integration Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_ESGIntegrationRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_ESGIntegrationRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_ESGIntegrationRiskMember" xlink:to="lab_ck0001032423_ESGIntegrationRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ShareholderFeesCaption_d6bb71a0-f5b2-4ab1-b0ad-09ddaabd4971_terseLabel_en-US" xlink:label="lab_rr_ShareholderFeesCaption" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shareholder Fees Caption [Text]</link:label>
    <link:label id="lab_rr_ShareholderFeesCaption_label_en-US" xlink:label="lab_rr_ShareholderFeesCaption" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shareholder Fees Caption [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ShareholderFeesCaption" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ShareholderFeesCaption"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ShareholderFeesCaption" xlink:to="lab_rr_ShareholderFeesCaption" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_CurrencyRiskMember_3b0ec52c-cb27-44f6-82ab-ef636deb10c9_terseLabel_en-US" xlink:label="lab_ck0001032423_CurrencyRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currency Risk Member</link:label>
    <link:label id="lab_ck0001032423_CurrencyRiskMember_label_en-US" xlink:label="lab_ck0001032423_CurrencyRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency Risk Member</link:label>
    <link:label id="lab_ck0001032423_CurrencyRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_CurrencyRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Currency Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_CurrencyRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_CurrencyRiskMember"/>
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    <link:label id="lab_rr_RiskNotInsuredMember_284f2e95-1aac-4f81-b3ae-07ac4bd6811b_terseLabel_en-US" xlink:label="lab_rr_RiskNotInsuredMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk Not Insured [Member]</link:label>
    <link:label id="lab_rr_RiskNotInsuredMember_label_en-US" xlink:label="lab_rr_RiskNotInsuredMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Not Insured [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RiskNotInsuredMember" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RiskNotInsuredMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RiskNotInsuredMember" xlink:to="lab_rr_RiskNotInsuredMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseFootnotesTextBlock_1f2190d2-2ab0-4fce-b48e-8a80a5ec79d4_terseLabel_en-US" xlink:label="lab_rr_ExpenseFootnotesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Footnotes [Text Block]</link:label>
    <link:label id="lab_rr_ExpenseFootnotesTextBlock_label_en-US" xlink:label="lab_rr_ExpenseFootnotesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Footnotes [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseFootnotesTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseFootnotesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseFootnotesTextBlock" xlink:to="lab_rr_ExpenseFootnotesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceTableOneClassOfAfterTaxShown_4442fb9a-6304-4560-9c84-054566181059_terseLabel_en-US" xlink:label="lab_rr_PerformanceTableOneClassOfAfterTaxShown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Table One Class of after Tax Shown [Text]</link:label>
    <link:label id="lab_rr_PerformanceTableOneClassOfAfterTaxShown_label_en-US" xlink:label="lab_rr_PerformanceTableOneClassOfAfterTaxShown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Table One Class of after Tax Shown [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceTableOneClassOfAfterTaxShown" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceTableOneClassOfAfterTaxShown"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceTableOneClassOfAfterTaxShown" xlink:to="lab_rr_PerformanceTableOneClassOfAfterTaxShown" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_fa121e5f-ad51-4f07-a098-dbffa18b6ddf_terseLabel_en-US" xlink:label="lab_rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage)</link:label>
    <link:label id="lab_rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_label_en-US" xlink:label="lab_rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther" xlink:to="lab_rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_MoneyMarketSevenDayTaxEquivalentYield_b47b05c4-7eb3-4530-a504-e6dc41f64b4b_terseLabel_en-US" xlink:label="lab_rr_MoneyMarketSevenDayTaxEquivalentYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Money Market Seven Day Tax Equivalent Yield</link:label>
    <link:label id="lab_rr_MoneyMarketSevenDayTaxEquivalentYield_label_en-US" xlink:label="lab_rr_MoneyMarketSevenDayTaxEquivalentYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Money Market Seven Day Tax Equivalent Yield</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_MoneyMarketSevenDayTaxEquivalentYield" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_MoneyMarketSevenDayTaxEquivalentYield"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_MoneyMarketSevenDayTaxEquivalentYield" xlink:to="lab_rr_MoneyMarketSevenDayTaxEquivalentYield" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_FeeWaiverOrReimbursementOverAssets_77d72ba4-ffe1-4ff8-8c77-455f4fd52c64_terseLabel_en-US" xlink:label="lab_rr_FeeWaiverOrReimbursementOverAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fee Waiver or Reimbursement</link:label>
    <link:label id="lab_rr_FeeWaiverOrReimbursementOverAssets_label_en-US" xlink:label="lab_rr_FeeWaiverOrReimbursementOverAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fee Waiver or Reimbursement</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_FeeWaiverOrReimbursementOverAssets" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_FeeWaiverOrReimbursementOverAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_FeeWaiverOrReimbursementOverAssets" xlink:to="lab_rr_FeeWaiverOrReimbursementOverAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000173084Member_57ccc94e-51eb-4d4d-8deb-9e0d33c9b6f2_terseLabel_en-US" xlink:label="lab_ck0001032423_C000173084Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class I</link:label>
    <link:label id="lab_ck0001032423_C000173084Member_label_en-US" xlink:label="lab_ck0001032423_C000173084Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Short Duration Securitized Bond Fund Class I</link:label>
    <link:label id="lab_ck0001032423_C000173084Member_documentation_en-US" xlink:label="lab_ck0001032423_C000173084Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Short Duration Securitized Bond Fund Class I, C000173084</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000173084Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000173084Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000173084Member" xlink:to="lab_ck0001032423_C000173084Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ProspectusDate_0bebeca8-c9cd-4295-a1a0-f32fa85eeb00_terseLabel_en-US" xlink:label="lab_rr_ProspectusDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prospectus Date</link:label>
    <link:label id="lab_rr_ProspectusDate_label_en-US" xlink:label="lab_rr_ProspectusDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prospectus Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ProspectusDate" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ProspectusDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ProspectusDate" xlink:to="lab_rr_ProspectusDate" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpensesOverAssets_988219a6-61b5-4594-89b6-20e121d66086_terseLabel_en-US" xlink:label="lab_rr_ExpensesOverAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses (as a percentage of Assets)</link:label>
    <link:label id="lab_rr_ExpensesOverAssets_label_en-US" xlink:label="lab_rr_ExpensesOverAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expenses (as a percentage of Assets)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpensesOverAssets" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpensesOverAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpensesOverAssets" xlink:to="lab_rr_ExpensesOverAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000108467Member_d3e3796c-2dc4-45da-b851-b6d17edab998_terseLabel_en-US" xlink:label="lab_ck0001032423_C000108467Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class Y</link:label>
    <link:label id="lab_ck0001032423_C000108467Member_label_en-US" xlink:label="lab_ck0001032423_C000108467Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Small-Mid Cap Fund Class Y</link:label>
    <link:label id="lab_ck0001032423_C000108467Member_documentation_en-US" xlink:label="lab_ck0001032423_C000108467Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Small-Mid Cap Fund Class Y, C000108467</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000108467Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000108467Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000108467Member" xlink:to="lab_ck0001032423_C000108467Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_BarChartReasonSelectedClassDifferentFromImmediatelyPrecedingPeriod_282d3ec6-c288-4904-ba99-9fbbd9b1245a_terseLabel_en-US" xlink:label="lab_rr_BarChartReasonSelectedClassDifferentFromImmediatelyPrecedingPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bar Chart, Reason Selected Class Different from Immediately Preceding Period [Text]</link:label>
    <link:label id="lab_rr_BarChartReasonSelectedClassDifferentFromImmediatelyPrecedingPeriod_label_en-US" xlink:label="lab_rr_BarChartReasonSelectedClassDifferentFromImmediatelyPrecedingPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bar Chart, Reason Selected Class Different from Immediately Preceding Period [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_BarChartReasonSelectedClassDifferentFromImmediatelyPrecedingPeriod" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_BarChartReasonSelectedClassDifferentFromImmediatelyPrecedingPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_BarChartReasonSelectedClassDifferentFromImmediatelyPrecedingPeriod" xlink:to="lab_rr_BarChartReasonSelectedClassDifferentFromImmediatelyPrecedingPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000210481Member_f79b668e-2fc5-404c-9615-5d191c6ee27c_terseLabel_en-US" xlink:label="lab_ck0001032423_C000210481Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class Y</link:label>
    <link:label id="lab_ck0001032423_C000210481Member_label_en-US" xlink:label="lab_ck0001032423_C000210481Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill International Fund Class Y</link:label>
    <link:label id="lab_ck0001032423_C000210481Member_documentation_en-US" xlink:label="lab_ck0001032423_C000210481Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill International Fund, Class Y, C000210481, DHIYX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000210481Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000210481Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000210481Member" xlink:to="lab_ck0001032423_C000210481Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleFootnotesTextBlock_264e7bf0-1d8c-4a03-a429-5fcbd11bb392_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleFootnotesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example Footnotes [Text Block]</link:label>
    <link:label id="lab_rr_ExpenseExampleFootnotesTextBlock_label_en-US" xlink:label="lab_rr_ExpenseExampleFootnotesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example Footnotes [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleFootnotesTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleFootnotesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleFootnotesTextBlock" xlink:to="lab_rr_ExpenseExampleFootnotesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_BarChartLowestQuarterlyReturnDate_124f46b2-d8a6-4063-81cd-a3ca11d8c72f_terseLabel_en-US" xlink:label="lab_rr_BarChartLowestQuarterlyReturnDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lowest Quarterly Return, Date</link:label>
    <link:label id="lab_rr_BarChartLowestQuarterlyReturnDate_label_en-US" xlink:label="lab_rr_BarChartLowestQuarterlyReturnDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lowest Quarterly Return, Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_BarChartLowestQuarterlyReturnDate" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_BarChartLowestQuarterlyReturnDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_BarChartLowestQuarterlyReturnDate" xlink:to="lab_rr_BarChartLowestQuarterlyReturnDate" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ProspectusTable_277685ed-2a71-4f53-8707-ad053aab8e54_terseLabel_en-US" xlink:label="lab_rr_ProspectusTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prospectus:</link:label>
    <link:label id="lab_rr_ProspectusTable_label_en-US" xlink:label="lab_rr_ProspectusTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prospectus:</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ProspectusTable" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ProspectusTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ProspectusTable" xlink:to="lab_rr_ProspectusTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_S000003155Member_8df26910-efbd-4278-9bd0-8f0c7d5cc58d_terseLabel_en-US" xlink:label="lab_ck0001032423_S000003155Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diamond Hill Large Cap Fund</link:label>
    <link:label id="lab_ck0001032423_S000003155Member_label_en-US" xlink:label="lab_ck0001032423_S000003155Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Large Cap Fund</link:label>
    <link:label id="lab_ck0001032423_S000003155Member_documentation_en-US" xlink:label="lab_ck0001032423_S000003155Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Large Cap Fund, S000003155</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_S000003155Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_S000003155Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_S000003155Member" xlink:to="lab_ck0001032423_S000003155Member" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_LegalEntityIdentifier_8209501b-2c43-49b3-ab90-e339e7246c93_terseLabel_en-US" xlink:label="lab_dei_LegalEntityIdentifier" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal Entity Identifier</link:label>
    <link:label id="lab_dei_LegalEntityIdentifier_label_en-US" xlink:label="lab_dei_LegalEntityIdentifier" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity Identifier</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LegalEntityIdentifier" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LegalEntityIdentifier"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LegalEntityIdentifier" xlink:to="lab_dei_LegalEntityIdentifier" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleNoRedemptionTableTextBlock_15981359-1bf3-41c7-bf07-b66ac7b582b7_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleNoRedemptionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example, No Redemption [Table]</link:label>
    <link:label id="lab_rr_ExpenseExampleNoRedemptionTableTextBlock_label_en-US" xlink:label="lab_rr_ExpenseExampleNoRedemptionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example, No Redemption [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleNoRedemptionTableTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleNoRedemptionTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleNoRedemptionTableTextBlock" xlink:to="lab_rr_ExpenseExampleNoRedemptionTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_SectorEmphasisRiskMember_0d2d71a8-9a38-4611-bbd5-f8dbb06e4568_terseLabel_en-US" xlink:label="lab_ck0001032423_SectorEmphasisRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sector Emphasis Risk Member</link:label>
    <link:label id="lab_ck0001032423_SectorEmphasisRiskMember_label_en-US" xlink:label="lab_ck0001032423_SectorEmphasisRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sector Emphasis Risk Member</link:label>
    <link:label id="lab_ck0001032423_SectorEmphasisRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_SectorEmphasisRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sector Emphasis Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_SectorEmphasisRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_SectorEmphasisRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_SectorEmphasisRiskMember" xlink:to="lab_ck0001032423_SectorEmphasisRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_RiskReturnAbstract_794a8b29-d847-4b00-b0f9-f863effdefa0_terseLabel_en-US" xlink:label="lab_rr_RiskReturnAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk/Return:</link:label>
    <link:label id="lab_rr_RiskReturnAbstract_label_en-US" xlink:label="lab_rr_RiskReturnAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk/Return:</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RiskReturnAbstract" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RiskReturnAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RiskReturnAbstract" xlink:to="lab_rr_RiskReturnAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceTableNarrativeTextBlock_b57f4057-28f3-47d6-b705-3c2bfbf5a2b9_terseLabel_en-US" xlink:label="lab_rr_PerformanceTableNarrativeTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Table Narrative</link:label>
    <link:label id="lab_rr_PerformanceTableNarrativeTextBlock_label_en-US" xlink:label="lab_rr_PerformanceTableNarrativeTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Table Narrative</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceTableNarrativeTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceTableNarrativeTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceTableNarrativeTextBlock" xlink:to="lab_rr_PerformanceTableNarrativeTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_BarChartHighestQuarterlyReturnDate_08e95684-43fb-40d4-aa25-d84f2e52f50d_terseLabel_en-US" xlink:label="lab_rr_BarChartHighestQuarterlyReturnDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Highest Quarterly Return, Date</link:label>
    <link:label id="lab_rr_BarChartHighestQuarterlyReturnDate_label_en-US" xlink:label="lab_rr_BarChartHighestQuarterlyReturnDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Highest Quarterly Return, Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_BarChartHighestQuarterlyReturnDate" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_BarChartHighestQuarterlyReturnDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_BarChartHighestQuarterlyReturnDate" xlink:to="lab_rr_BarChartHighestQuarterlyReturnDate" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_AmendmentDescription_77471f79-234e-4535-81b4-c2e7e26536a2_terseLabel_en-US" xlink:label="lab_dei_AmendmentDescription" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment Description</link:label>
    <link:label id="lab_dei_AmendmentDescription_label_en-US" xlink:label="lab_dei_AmendmentDescription" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Description</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AmendmentDescription" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentDescription"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AmendmentDescription" xlink:to="lab_dei_AmendmentDescription" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpensesExplanationOfNonrecurringAccountFee_dafb9134-ca55-4826-8b44-3f80a6a25d2e_terseLabel_en-US" xlink:label="lab_rr_ExpensesExplanationOfNonrecurringAccountFee" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses Explanation of Nonrecurring Account Fee [Text]</link:label>
    <link:label id="lab_rr_ExpensesExplanationOfNonrecurringAccountFee_label_en-US" xlink:label="lab_rr_ExpensesExplanationOfNonrecurringAccountFee" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expenses Explanation of Nonrecurring Account Fee [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpensesExplanationOfNonrecurringAccountFee" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpensesExplanationOfNonrecurringAccountFee"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpensesExplanationOfNonrecurringAccountFee" xlink:to="lab_rr_ExpensesExplanationOfNonrecurringAccountFee" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceAvailabilityPhone_f49cbf5b-5dd2-4e11-af86-e418ca9bdeda_terseLabel_en-US" xlink:label="lab_rr_PerformanceAvailabilityPhone" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Availability Phone [Text]</link:label>
    <link:label id="lab_rr_PerformanceAvailabilityPhone_label_en-US" xlink:label="lab_rr_PerformanceAvailabilityPhone" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Availability Phone [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceAvailabilityPhone" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceAvailabilityPhone"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceAvailabilityPhone" xlink:to="lab_rr_PerformanceAvailabilityPhone" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_BarChartYearToDateReturn_746c2d8e-43e6-438d-8a46-7bf073fb4c24_terseLabel_en-US" xlink:label="lab_rr_BarChartYearToDateReturn" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bar Chart, Year to Date Return</link:label>
    <link:label id="lab_rr_BarChartYearToDateReturn_label_en-US" xlink:label="lab_rr_BarChartYearToDateReturn" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bar Chart, Year to Date Return</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_BarChartYearToDateReturn" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_BarChartYearToDateReturn"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_BarChartYearToDateReturn" xlink:to="lab_rr_BarChartYearToDateReturn" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000210482Member_ae36fe71-493b-4fa7-8d4e-aef303f84029_terseLabel_en-US" xlink:label="lab_ck0001032423_C000210482Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investor</link:label>
    <link:label id="lab_ck0001032423_C000210482Member_label_en-US" xlink:label="lab_ck0001032423_C000210482Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill International Fund Class Investor</link:label>
    <link:label id="lab_ck0001032423_C000210482Member_documentation_en-US" xlink:label="lab_ck0001032423_C000210482Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill International Fund, Class Investor, C000210482, DHIAX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000210482Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000210482Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000210482Member" xlink:to="lab_ck0001032423_C000210482Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseHeading_72d2bb45-6064-4294-8d49-6a1c4e347006_terseLabel_en-US" xlink:label="lab_rr_ExpenseHeading" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense [Heading]</link:label>
    <link:label id="lab_rr_ExpenseHeading_label_en-US" xlink:label="lab_rr_ExpenseHeading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense [Heading]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseHeading" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseHeading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseHeading" xlink:to="lab_rr_ExpenseHeading" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AverageAnnualReturnSinceInception_4b3d6c91-363b-4396-bbec-3536dc77f4f6_terseLabel_en-US" xlink:label="lab_rr_AverageAnnualReturnSinceInception" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Since Inception</link:label>
    <link:label id="lab_rr_AverageAnnualReturnSinceInception_label_en-US" xlink:label="lab_rr_AverageAnnualReturnSinceInception" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Since Inception</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AverageAnnualReturnSinceInception" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AverageAnnualReturnSinceInception"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AverageAnnualReturnSinceInception" xlink:to="lab_rr_AverageAnnualReturnSinceInception" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AnnualReturnCaption_bf8346aa-d43b-449c-9829-71c569230280_terseLabel_en-US" xlink:label="lab_rr_AnnualReturnCaption" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Return Caption [Text]</link:label>
    <link:label id="lab_rr_AnnualReturnCaption_label_en-US" xlink:label="lab_rr_AnnualReturnCaption" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Return Caption [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AnnualReturnCaption" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AnnualReturnCaption"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AnnualReturnCaption" xlink:to="lab_rr_AnnualReturnCaption" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_BarChartTableTextBlock_00a58d6b-f3c2-4af2-aeec-700718ab1d72_terseLabel_en-US" xlink:label="lab_rr_BarChartTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bar Chart [Table]</link:label>
    <link:label id="lab_rr_BarChartTableTextBlock_label_en-US" xlink:label="lab_rr_BarChartTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bar Chart [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_BarChartTableTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_BarChartTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_BarChartTableTextBlock" xlink:to="lab_rr_BarChartTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_RussellTwoThousandFiveHundredIndexMember_a3727d59-5441-4e72-9a66-8980bfa43dee_terseLabel_en-US" xlink:label="lab_ck0001032423_RussellTwoThousandFiveHundredIndexMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Russell 2500 Index</link:label>
    <link:label id="lab_ck0001032423_RussellTwoThousandFiveHundredIndexMember_label_en-US" xlink:label="lab_ck0001032423_RussellTwoThousandFiveHundredIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Russell 2500 Index</link:label>
    <link:label id="lab_ck0001032423_RussellTwoThousandFiveHundredIndexMember_documentation_en-US" xlink:label="lab_ck0001032423_RussellTwoThousandFiveHundredIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Russell 2500 Index</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_RussellTwoThousandFiveHundredIndexMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_RussellTwoThousandFiveHundredIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_RussellTwoThousandFiveHundredIndexMember" xlink:to="lab_ck0001032423_RussellTwoThousandFiveHundredIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_GreaterChinaRiskMember_09535f0f-e206-41bf-bc94-ad72ee959b63_terseLabel_en-US" xlink:label="lab_ck0001032423_GreaterChinaRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Greater China Risk Member</link:label>
    <link:label id="lab_ck0001032423_GreaterChinaRiskMember_label_en-US" xlink:label="lab_ck0001032423_GreaterChinaRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Greater China Risk Member</link:label>
    <link:label id="lab_ck0001032423_GreaterChinaRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_GreaterChinaRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Greater China Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_GreaterChinaRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_GreaterChinaRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_GreaterChinaRiskMember" xlink:to="lab_ck0001032423_GreaterChinaRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000254401Member_73a14534-6cf1-424b-b169-e61310daf0ad_terseLabel_en-US" xlink:label="lab_ck0001032423_C000254401Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class I</link:label>
    <link:label id="lab_ck0001032423_C000254401Member_label_en-US" xlink:label="lab_ck0001032423_C000254401Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Plus Bond Fund Class I</link:label>
    <link:label id="lab_ck0001032423_C000254401Member_documentation_en-US" xlink:label="lab_ck0001032423_C000254401Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Plus Bond Fund Class I</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000254401Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000254401Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000254401Member" xlink:to="lab_ck0001032423_C000254401Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceOneYearOrLess_06b9fcb9-4753-45ce-b900-7a2ebd364c91_terseLabel_en-US" xlink:label="lab_rr_PerformanceOneYearOrLess" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance One Year or Less [Text]</link:label>
    <link:label id="lab_rr_PerformanceOneYearOrLess_label_en-US" xlink:label="lab_rr_PerformanceOneYearOrLess" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance One Year or Less [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceOneYearOrLess" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceOneYearOrLess"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceOneYearOrLess" xlink:to="lab_rr_PerformanceOneYearOrLess" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_MidCapCompanyRiskMember_9385cfd3-d2b5-48c7-ab43-6a95bd3a472d_terseLabel_en-US" xlink:label="lab_ck0001032423_MidCapCompanyRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mid Cap Company Risk Member</link:label>
    <link:label id="lab_ck0001032423_MidCapCompanyRiskMember_label_en-US" xlink:label="lab_ck0001032423_MidCapCompanyRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mid Cap Company Risk Member</link:label>
    <link:label id="lab_ck0001032423_MidCapCompanyRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_MidCapCompanyRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mid Cap Company Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_MidCapCompanyRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_MidCapCompanyRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_MidCapCompanyRiskMember" xlink:to="lab_ck0001032423_MidCapCompanyRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ObjectiveHeading_1e2177f3-aa07-4eba-9e2f-be7f47510930_terseLabel_en-US" xlink:label="lab_rr_ObjectiveHeading" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Objective [Heading]</link:label>
    <link:label id="lab_rr_ObjectiveHeading_label_en-US" xlink:label="lab_rr_ObjectiveHeading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Objective [Heading]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ObjectiveHeading" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ObjectiveHeading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ObjectiveHeading" xlink:to="lab_rr_ObjectiveHeading" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_Russell1000ValueIndexIndexMember_2a8b90a1-9718-4801-8006-3c5cca36a9aa_terseLabel_en-US" xlink:label="lab_ck0001032423_Russell1000ValueIndexIndexMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Russell 1000 Value Index</link:label>
    <link:label id="lab_ck0001032423_Russell1000ValueIndexIndexMember_label_en-US" xlink:label="lab_ck0001032423_Russell1000ValueIndexIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Russell 1000 Value Index</link:label>
    <link:label id="lab_ck0001032423_Russell1000ValueIndexIndexMember_documentation_en-US" xlink:label="lab_ck0001032423_Russell1000ValueIndexIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Russell 1000 Value Index</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_Russell1000ValueIndexIndexMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_Russell1000ValueIndexIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_Russell1000ValueIndexIndexMember" xlink:to="lab_ck0001032423_Russell1000ValueIndexIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceTableExplanationAfterTaxHigher_7fd0c58c-8219-4d4e-ac00-3574225f4d4a_terseLabel_en-US" xlink:label="lab_rr_PerformanceTableExplanationAfterTaxHigher" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Table Explanation after Tax Higher</link:label>
    <link:label id="lab_rr_PerformanceTableExplanationAfterTaxHigher_label_en-US" xlink:label="lab_rr_PerformanceTableExplanationAfterTaxHigher" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Table Explanation after Tax Higher</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceTableExplanationAfterTaxHigher" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceTableExplanationAfterTaxHigher"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceTableExplanationAfterTaxHigher" xlink:to="lab_rr_PerformanceTableExplanationAfterTaxHigher" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_BloombergUS13YearGovernmentCreditIndexIndexMember_d3d14ad3-ed53-49b3-ace4-be4b898c0b63_terseLabel_en-US" xlink:label="lab_ck0001032423_BloombergUS13YearGovernmentCreditIndexIndexMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bloomberg US 1-3 Year Government/Credit Index</link:label>
    <link:label id="lab_ck0001032423_BloombergUS13YearGovernmentCreditIndexIndexMember_label_en-US" xlink:label="lab_ck0001032423_BloombergUS13YearGovernmentCreditIndexIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bloomberg US 1-3 Year Government/Credit Index</link:label>
    <link:label id="lab_ck0001032423_BloombergUS13YearGovernmentCreditIndexIndexMember_documentation_en-US" xlink:label="lab_ck0001032423_BloombergUS13YearGovernmentCreditIndexIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Bloomberg US 1-3 Year Government/Credit Index</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_BloombergUS13YearGovernmentCreditIndexIndexMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_BloombergUS13YearGovernmentCreditIndexIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_BloombergUS13YearGovernmentCreditIndexIndexMember" xlink:to="lab_ck0001032423_BloombergUS13YearGovernmentCreditIndexIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_SectorRiskMember_dde117f9-da4f-4476-80da-eef51eb37f2c_terseLabel_en-US" xlink:label="lab_ck0001032423_SectorRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sector Risk Member</link:label>
    <link:label id="lab_ck0001032423_SectorRiskMember_label_en-US" xlink:label="lab_ck0001032423_SectorRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sector Risk Member</link:label>
    <link:label id="lab_ck0001032423_SectorRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_SectorRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sector Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_SectorRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_SectorRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_SectorRiskMember" xlink:to="lab_ck0001032423_SectorRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_RiskColumnName_4cb6be5a-9933-44b6-a715-81899341225a_terseLabel_en-US" xlink:label="lab_rr_RiskColumnName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk Column [Text]</link:label>
    <link:label id="lab_rr_RiskColumnName_label_en-US" xlink:label="lab_rr_RiskColumnName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Column [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_RiskColumnName" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_RiskColumnName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_RiskColumnName" xlink:to="lab_rr_RiskColumnName" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_QuantitativeRiskMember_4a05e30f-36ef-4707-988d-6ee2042f86c0_terseLabel_en-US" xlink:label="lab_ck0001032423_QuantitativeRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Quantitative Risk Member</link:label>
    <link:label id="lab_ck0001032423_QuantitativeRiskMember_label_en-US" xlink:label="lab_ck0001032423_QuantitativeRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Quantitative Risk Member</link:label>
    <link:label id="lab_ck0001032423_QuantitativeRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_QuantitativeRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Quantitative Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_QuantitativeRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_QuantitativeRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_QuantitativeRiskMember" xlink:to="lab_ck0001032423_QuantitativeRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseBreakpointMinimumInvestmentRequiredAmount_393b2e6e-962d-435a-86f3-7c6c611a6fd0_terseLabel_en-US" xlink:label="lab_rr_ExpenseBreakpointMinimumInvestmentRequiredAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Breakpoint, Minimum Investment Required [Amount]</link:label>
    <link:label id="lab_rr_ExpenseBreakpointMinimumInvestmentRequiredAmount_label_en-US" xlink:label="lab_rr_ExpenseBreakpointMinimumInvestmentRequiredAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Breakpoint, Minimum Investment Required [Amount]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseBreakpointMinimumInvestmentRequiredAmount" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseBreakpointMinimumInvestmentRequiredAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseBreakpointMinimumInvestmentRequiredAmount" xlink:to="lab_rr_ExpenseBreakpointMinimumInvestmentRequiredAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleNoRedemptionYear03_2396e447-6ebe-4ac7-b1fb-a86325f20bd8_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleNoRedemptionYear03" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example, No Redemption, 3 Years</link:label>
    <link:label id="lab_rr_ExpenseExampleNoRedemptionYear03_label_en-US" xlink:label="lab_rr_ExpenseExampleNoRedemptionYear03" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example, No Redemption, 3 Years</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleNoRedemptionYear03" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleNoRedemptionYear03"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleNoRedemptionYear03" xlink:to="lab_rr_ExpenseExampleNoRedemptionYear03" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpenseExampleNoRedemptionYear01_63b94893-dfe1-432e-b3a4-72133fa95d87_terseLabel_en-US" xlink:label="lab_rr_ExpenseExampleNoRedemptionYear01" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense Example, No Redemption, 1 Year</link:label>
    <link:label id="lab_rr_ExpenseExampleNoRedemptionYear01_label_en-US" xlink:label="lab_rr_ExpenseExampleNoRedemptionYear01" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Example, No Redemption, 1 Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpenseExampleNoRedemptionYear01" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpenseExampleNoRedemptionYear01"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpenseExampleNoRedemptionYear01" xlink:to="lab_rr_ExpenseExampleNoRedemptionYear01" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000173083Member_aafd1ba7-fc50-4ddf-be60-9157f65c6247_terseLabel_en-US" xlink:label="lab_ck0001032423_C000173083Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investor</link:label>
    <link:label id="lab_ck0001032423_C000173083Member_label_en-US" xlink:label="lab_ck0001032423_C000173083Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Short Duration Securitized Bond Fund Class Investor</link:label>
    <link:label id="lab_ck0001032423_C000173083Member_documentation_en-US" xlink:label="lab_ck0001032423_C000173083Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Short Duration Securitized Bond Fund Class Investor, C000173083</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000173083Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000173083Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000173083Member" xlink:to="lab_ck0001032423_C000173083Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_BarChartNarrativeTextBlock_1070e152-db32-480f-931a-08c20e412a3a_terseLabel_en-US" xlink:label="lab_rr_BarChartNarrativeTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bar Chart Narrative [Text Block]</link:label>
    <link:label id="lab_rr_BarChartNarrativeTextBlock_label_en-US" xlink:label="lab_rr_BarChartNarrativeTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bar Chart Narrative [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_BarChartNarrativeTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_BarChartNarrativeTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_BarChartNarrativeTextBlock" xlink:to="lab_rr_BarChartNarrativeTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000254402Member_67c6d03c-2fbe-4142-8975-a36fb40ebc68_terseLabel_en-US" xlink:label="lab_ck0001032423_C000254402Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class Y</link:label>
    <link:label id="lab_ck0001032423_C000254402Member_label_en-US" xlink:label="lab_ck0001032423_C000254402Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Plus Bond Fund Class Y</link:label>
    <link:label id="lab_ck0001032423_C000254402Member_documentation_en-US" xlink:label="lab_ck0001032423_C000254402Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill Core Plus Bond Fund Class Y</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000254402Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000254402Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000254402Member" xlink:to="lab_ck0001032423_C000254402Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_HighestQuarterlyReturnLabel_0434614a-7742-40f9-98f0-f5a6f7fdad1a_terseLabel_en-US" xlink:label="lab_rr_HighestQuarterlyReturnLabel" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Highest Quarterly Return, Label</link:label>
    <link:label id="lab_rr_HighestQuarterlyReturnLabel_label_en-US" xlink:label="lab_rr_HighestQuarterlyReturnLabel" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Highest Quarterly Return, Label</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_HighestQuarterlyReturnLabel" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_HighestQuarterlyReturnLabel"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_HighestQuarterlyReturnLabel" xlink:to="lab_rr_HighestQuarterlyReturnLabel" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_AdjustableRateMortgageLoansARMsRiskMember_2b19d95f-901e-455b-8028-efdac2fc119d_terseLabel_en-US" xlink:label="lab_ck0001032423_AdjustableRateMortgageLoansARMsRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustable Rate Mortgage Loans ("ARMs") Risk Member</link:label>
    <link:label id="lab_ck0001032423_AdjustableRateMortgageLoansARMsRiskMember_label_en-US" xlink:label="lab_ck0001032423_AdjustableRateMortgageLoansARMsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustable Rate Mortgage Loans ("ARMs") Risk Member</link:label>
    <link:label id="lab_ck0001032423_AdjustableRateMortgageLoansARMsRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_AdjustableRateMortgageLoansARMsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustable Rate Mortgage Loans ("ARMs") Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_AdjustableRateMortgageLoansARMsRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_AdjustableRateMortgageLoansARMsRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_AdjustableRateMortgageLoansARMsRiskMember" xlink:to="lab_ck0001032423_AdjustableRateMortgageLoansARMsRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_C000210483Member_52a21df9-359f-430a-a2a1-c59653d97d20_terseLabel_en-US" xlink:label="lab_ck0001032423_C000210483Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class I</link:label>
    <link:label id="lab_ck0001032423_C000210483Member_label_en-US" xlink:label="lab_ck0001032423_C000210483Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diamond Hill International Fund Class I</link:label>
    <link:label id="lab_ck0001032423_C000210483Member_documentation_en-US" xlink:label="lab_ck0001032423_C000210483Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diamond Hill International Fund, Class I, C000210483, DHIIX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_C000210483Member" xlink:href="ck0001032423-20241231.xsd#ck0001032423_C000210483Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_C000210483Member" xlink:to="lab_ck0001032423_C000210483Member" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_AverageAnnualReturnLabel_bbb2f00a-16e9-4873-a35b-c76dfaa40765_terseLabel_en-US" xlink:label="lab_rr_AverageAnnualReturnLabel" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Label</link:label>
    <link:label id="lab_rr_AverageAnnualReturnLabel_label_en-US" xlink:label="lab_rr_AverageAnnualReturnLabel" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Label</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_AverageAnnualReturnLabel" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_AverageAnnualReturnLabel"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_AverageAnnualReturnLabel" xlink:to="lab_rr_AverageAnnualReturnLabel" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_PerformanceAvailabilityWebSiteAddress_4066addc-4cb8-44df-9bb9-b44bf405a363_terseLabel_en-US" xlink:label="lab_rr_PerformanceAvailabilityWebSiteAddress" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Availability Website Address [Text]</link:label>
    <link:label id="lab_rr_PerformanceAvailabilityWebSiteAddress_label_en-US" xlink:label="lab_rr_PerformanceAvailabilityWebSiteAddress" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Availability Website Address [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_PerformanceAvailabilityWebSiteAddress" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_PerformanceAvailabilityWebSiteAddress"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_PerformanceAvailabilityWebSiteAddress" xlink:to="lab_rr_PerformanceAvailabilityWebSiteAddress" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_FocusedPortfolioRiskMember_440370de-b7a5-4ea1-b1f9-d5376504d036_terseLabel_en-US" xlink:label="lab_ck0001032423_FocusedPortfolioRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Focused Portfolio Risk Member</link:label>
    <link:label id="lab_ck0001032423_FocusedPortfolioRiskMember_label_en-US" xlink:label="lab_ck0001032423_FocusedPortfolioRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Focused Portfolio Risk Member</link:label>
    <link:label id="lab_ck0001032423_FocusedPortfolioRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_FocusedPortfolioRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Focused Portfolio Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_FocusedPortfolioRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_FocusedPortfolioRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_FocusedPortfolioRiskMember" xlink:to="lab_ck0001032423_FocusedPortfolioRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_FixedIncomeRiskMember_321d8257-68b8-4204-a8eb-0151489cf25f_terseLabel_en-US" xlink:label="lab_ck0001032423_FixedIncomeRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed Income Risk Member</link:label>
    <link:label id="lab_ck0001032423_FixedIncomeRiskMember_label_en-US" xlink:label="lab_ck0001032423_FixedIncomeRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed Income Risk Member</link:label>
    <link:label id="lab_ck0001032423_FixedIncomeRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_FixedIncomeRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed Income Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_FixedIncomeRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_FixedIncomeRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_FixedIncomeRiskMember" xlink:to="lab_ck0001032423_FixedIncomeRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ObjectiveSecondaryTextBlock_a4f86889-c208-4d51-9fc0-09ba5f7f8b16_terseLabel_en-US" xlink:label="lab_rr_ObjectiveSecondaryTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Objective, Secondary [Text Block]</link:label>
    <link:label id="lab_rr_ObjectiveSecondaryTextBlock_label_en-US" xlink:label="lab_rr_ObjectiveSecondaryTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Objective, Secondary [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ObjectiveSecondaryTextBlock" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ObjectiveSecondaryTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ObjectiveSecondaryTextBlock" xlink:to="lab_rr_ObjectiveSecondaryTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_ConsumerLoansRiskMember_be7ece28-ac9f-4ab4-a5f2-e2e297beff31_terseLabel_en-US" xlink:label="lab_ck0001032423_ConsumerLoansRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consumer Loans Risk Member</link:label>
    <link:label id="lab_ck0001032423_ConsumerLoansRiskMember_label_en-US" xlink:label="lab_ck0001032423_ConsumerLoansRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consumer Loans Risk Member</link:label>
    <link:label id="lab_ck0001032423_ConsumerLoansRiskMember_documentation_en-US" xlink:label="lab_ck0001032423_ConsumerLoansRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Consumer Loans Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_ConsumerLoansRiskMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_ConsumerLoansRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_ConsumerLoansRiskMember" xlink:to="lab_ck0001032423_ConsumerLoansRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001032423_SixtyRussellOneThousandIndex40BloombergUSTBillsMonth13IndexIndexMember_6ead7b48-6458-4b30-99cd-47eed144fce0_terseLabel_en-US" xlink:label="lab_ck0001032423_SixtyRussellOneThousandIndex40BloombergUSTBillsMonth13IndexIndexMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">60% Russell 1000 Index/40% Bloomberg US T-Bills 1-3 Month Index</link:label>
    <link:label id="lab_ck0001032423_SixtyRussellOneThousandIndex40BloombergUSTBillsMonth13IndexIndexMember_label_en-US" xlink:label="lab_ck0001032423_SixtyRussellOneThousandIndex40BloombergUSTBillsMonth13IndexIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">60% Russell 1000 Index/40% Bloomberg US T-Bills 1-3 Month Index</link:label>
    <link:label id="lab_ck0001032423_SixtyRussellOneThousandIndex40BloombergUSTBillsMonth13IndexIndexMember_documentation_en-US" xlink:label="lab_ck0001032423_SixtyRussellOneThousandIndex40BloombergUSTBillsMonth13IndexIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">60% Russell 1000 Index/40% Bloomberg US T-Bills 1-3 Month Index</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001032423_SixtyRussellOneThousandIndex40BloombergUSTBillsMonth13IndexIndexMember" xlink:href="ck0001032423-20241231.xsd#ck0001032423_SixtyRussellOneThousandIndex40BloombergUSTBillsMonth13IndexIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001032423_SixtyRussellOneThousandIndex40BloombergUSTBillsMonth13IndexIndexMember" xlink:to="lab_ck0001032423_SixtyRussellOneThousandIndex40BloombergUSTBillsMonth13IndexIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_6743a4e2-8277-42d5-8de5-58f8d3dfa008_terseLabel_en-US" xlink:label="lab_rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text]</link:label>
    <link:label id="lab_rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_label_en-US" xlink:label="lab_rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees" xlink:href="https://xbrl.sec.gov/rr/2023/rr-2023.xsd#rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees" xlink:to="lab_rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees" xlink:type="arc" order="1"/>
    <link:label id="lab_rr_BarChartHeading_e788c924-6127-4128-bed5-aa33c76de325_terseLabel_en-US" xlink:label="lab_rr_BarChartHeading" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bar Chart [Heading]</link:label>
    <link:label id="lab_rr_BarChartHeading_label_en-US" xlink:label="lab_rr_BarChartHeading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bar Chart [Heading]</link:label>
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