DEVDX vs. DSMDX

Last updated Jun 4, 2026

DEVDX (Driehaus Event Driven Fund) and DSMDX (Driehaus Small/Mid Cap Growth Fund) are both mutual funds - DEVDX is a Event Driven fund managed by Driehaus, while DSMDX is a Mid Cap Growth Equities fund managed by Driehaus. A 0.62 correlation means they provide meaningful diversification when combined. DEVDX charges 1.66%/yr vs 0.95%/yr for DSMDX.

Performance

DEVDX vs. DSMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Driehaus Event Driven Fund (DEVDX) and Driehaus Small/Mid Cap Growth Fund (DSMDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DEVDX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DSMDX

• 1D: 2.21%
• 1M: 6.90%
• YTD: 20.77%
• 6M: 19.60%
• 1Y: 42.62%
• 3Y*: 22.95%
• 5Y*: 9.02%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DEVDX vs. DSMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DEVDX Driehaus Event Driven Fund	-1.35%	5.99%	3.06%	9.59%	-9.99%	7.24%	32.46%
DSMDX Driehaus Small/Mid Cap Growth Fund	20.77%	9.83%	26.45%	20.71%	-31.46%	17.96%	74.27%

Correlation

The correlation between DEVDX and DSMDX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since May 4, 2020	0.62

Over the past year, the correlation between DEVDX and DSMDX has dropped to 0.33 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

Return for Risk

DEVDX vs. DSMDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DSMDX

DSMDX Risk / Return Rank: 45
DSMDX Sharpe Ratio Rank: 39
DSMDX Sortino Ratio Rank: 32
DSMDX Omega Ratio Rank: 33
DSMDX Calmar Ratio Rank: 64
DSMDX Martin Ratio Rank: 59

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DEVDX vs. DSMDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Driehaus Event Driven Fund (DEVDX) and Driehaus Small/Mid Cap Growth Fund (DSMDX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DEVDX	DSMDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.81	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.73	—

Drawdowns

Drawdown Indicators

	DEVDX	DSMDX	Difference
Max Drawdown Largest peak-to-trough decline	—	-41.90%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-14.51%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-33.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-41.90%	—
Current Drawdown Current decline from peak	—	-0.20%	—
Average Drawdown Average peak-to-trough decline	—	-15.72%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.78%	—

Volatility

Volatility by Period

	DEVDX	DSMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.55%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.78%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	24.62%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	25.77%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	25.99%	—

DEVDX vs. DSMDX - Expense Ratio Comparison

DEVDX has a 1.66% expense ratio, which is higher than DSMDX's 0.95% expense ratio.

Dividends

DEVDX vs. DSMDX - Dividend Comparison

DEVDX's dividend yield for the trailing twelve months is around 16.48%, more than DSMDX's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEVDX Driehaus Event Driven Fund	16.48%	14.24%	1.35%	4.48%	1.49%	12.11%	3.48%	4.09%	3.57%	0.00%	1.20%	0.66%
DSMDX Driehaus Small/Mid Cap Growth Fund	0.34%	0.41%	0.33%	0.00%	3.72%	7.93%	1.37%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DEVDX and DSMDX in my portfolio?

DEVDX and DSMDX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.