DEVDX vs. VARBX
Compare and contrast key facts about Driehaus Event Driven Fund (DEVDX) and Vivaldi Merger Arbitrage Fund Class I (VARBX).
DEVDX is managed by Driehaus. It was launched on Aug 22, 2013. VARBX is managed by First Trust. It was launched on Oct 1, 2015.
Performance
DEVDX vs. VARBX - Performance Comparison
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DEVDX vs. VARBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DEVDX Driehaus Event Driven Fund | -1.35% | 5.99% | 3.06% | 9.59% | -9.99% | 7.24% | 24.78% | 20.49% | -4.06% | 4.35% |
VARBX Vivaldi Merger Arbitrage Fund Class I | 0.85% | 6.06% | 12.64% | 3.30% | 2.38% | 5.42% | 4.00% | 4.28% | 4.11% | 2.39% |
Returns By Period
In the year-to-date period, DEVDX achieves a -1.35% return, which is significantly lower than VARBX's 0.85% return. Over the past 10 years, DEVDX has outperformed VARBX with an annualized return of 6.56%, while VARBX has yielded a comparatively lower 4.45% annualized return.
DEVDX
- 1D
- -0.18%
- 1M
- 0.27%
- YTD
- -1.35%
- 6M
- 2.69%
- 1Y
- 9.17%
- 3Y*
- 5.17%
- 5Y*
- 2.08%
- 10Y*
- 6.56%
VARBX
- 1D
- 0.09%
- 1M
- 0.47%
- YTD
- 0.85%
- 6M
- 2.21%
- 1Y
- 5.56%
- 3Y*
- 7.36%
- 5Y*
- 5.39%
- 10Y*
- 4.45%
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DEVDX vs. VARBX - Expense Ratio Comparison
DEVDX has a 1.66% expense ratio, which is lower than VARBX's 1.81% expense ratio.
Return for Risk
DEVDX vs. VARBX — Risk / Return Rank
DEVDX
VARBX
DEVDX vs. VARBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Driehaus Event Driven Fund (DEVDX) and Vivaldi Merger Arbitrage Fund Class I (VARBX). 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.
| DEVDX | VARBX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.32 | 4.06 | -2.74 |
Sortino ratioReturn per unit of downside risk | 2.04 | 6.90 | -4.86 |
Omega ratioGain probability vs. loss probability | 1.26 | 2.36 | -1.10 |
Calmar ratioReturn relative to maximum drawdown | 2.28 | 8.71 | -6.43 |
Martin ratioReturn relative to average drawdown | 5.21 | 37.63 | -32.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DEVDX | VARBX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 4.06 | -2.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 1.64 | -1.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 1.33 | -0.65 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 1.40 | -0.94 |
Correlation
The correlation between DEVDX and VARBX is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
DEVDX vs. VARBX - Dividend Comparison
DEVDX's dividend yield for the trailing twelve months is around 16.48%, more than VARBX's 5.99% yield.
| 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% |
VARBX Vivaldi Merger Arbitrage Fund Class I | 5.99% | 6.04% | 12.59% | 4.07% | 0.75% | 8.42% | 0.81% | 5.54% | 2.15% | 1.70% | 0.06% | 0.04% |
Drawdowns
DEVDX vs. VARBX - Drawdown Comparison
The maximum DEVDX drawdown since its inception was -21.00%, which is greater than VARBX's maximum drawdown of -5.12%. Use the drawdown chart below to compare losses from any high point for DEVDX and VARBX.
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Drawdown Indicators
| DEVDX | VARBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.00% | -5.12% | -15.88% |
Max Drawdown (1Y)Largest decline over 1 year | -3.37% | -0.64% | -2.73% |
Max Drawdown (5Y)Largest decline over 5 years | -21.00% | -1.79% | -19.21% |
Max Drawdown (10Y)Largest decline over 10 years | -21.00% | -5.12% | -15.88% |
Current DrawdownCurrent decline from peak | -3.69% | 0.00% | -3.69% |
Average DrawdownAverage peak-to-trough decline | -7.14% | -0.57% | -6.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 0.15% | +1.44% |
Volatility
DEVDX vs. VARBX - Volatility Comparison
Driehaus Event Driven Fund (DEVDX) has a higher volatility of 0.37% compared to Vivaldi Merger Arbitrage Fund Class I (VARBX) at 0.33%. This indicates that DEVDX's price experiences larger fluctuations and is considered to be riskier than VARBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DEVDX | VARBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.37% | 0.33% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.81% | 0.71% | +3.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.26% | 1.35% | +4.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.93% | 3.31% | +6.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.67% | 3.35% | +6.32% |