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Driehaus Event Driven Fund (DEVDX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 25, 2026

The investment seeks to provide positive returns over full-market cycles. The fund is actively managed by using techniques intended to provide positive returns over full-market cycles. In making investment decisions the fund's investment adviser, will employ event-driven strategies designed to exploit disparities or inefficiencies in U.S. and foreign (non-U.S.) equity and debt markets.

Looking to diversify beyond DEVDX? The mutual funds below have the lowest correlation with DEVDX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from DEVDX.

Best Diversifiers for DEVDX

12 mutual funds have low correlation with DEVDX (below 0.3), 0 of which are negatively correlated. The least correlated is The Merger Fund Class I (MERIX) (Event Driven) with a 1Y correlation of 0.06, down from 0.29 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
MERIX
The Merger Fund Class I0.060.240.29
98
Event DrivenDEVDX vs MERIX
VARBX
Vivaldi Merger Arbitrage Fund Class I0.060.130.20
99
Event DrivenDEVDX vs VARBX
MERFX
The Merger Fund0.090.240.28
97
Event DrivenDEVDX vs MERFX
DAMDX
Dunham Monthly Distribution Fund0.190.340.33
97
Event DrivenDEVDX vs DAMDX
AEDNX
Water Island Event-Driven Fund0.190.350.44
97
Event DrivenDEVDX vs AEDNX
See all 15 diversifiers for DEVDX

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