DMAGX vs. DRESX
DMAGX (Driehaus Emerging Markets Opportunities Fund) and DRESX (Driehaus Emerging Markets Small Cap Growth Fund) are both Emerging Markets Equities funds from Driehaus. Over the past 5 years, DMAGX returned 10.65%/yr vs 5.18%/yr for DRESX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. DMAGX charges 0.99%/yr vs 1.24%/yr for DRESX.
Performance
DMAGX vs. DRESX - Performance Comparison
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Returns By Period
In the year-to-date period, DMAGX achieves a 13.58% return, which is significantly higher than DRESX's 2.62% return.
DMAGX
- 1D
- 3.04%
- 1M
- -3.65%
- 6M
- 9.27%
- YTD
- 13.58%
- 1Y
- 23.16%
- 3Y*
- 22.17%
- 5Y*
- 10.65%
- 10Y*
- —
- ALL TIME*
- 11.64%
DRESX
- 1D
- 1.70%
- 1M
- -9.97%
- 6M
- -5.73%
- YTD
- 2.62%
- 1Y
- 15.90%
- 3Y*
- 12.52%
- 5Y*
- 5.18%
- 10Y*
- 8.92%
- ALL TIME*
- 7.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
DMAGX vs. DRESX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DMAGX Driehaus Emerging Markets Opportunities Fund | 13.58% | 22.77% | 26.16% | 19.48% | -18.85% | -1.84% | 30.20% | 21.64% | -13.22% | 21.16% |
DRESX Driehaus Emerging Markets Small Cap Growth Fund | 2.62% | 24.08% | 14.86% | 10.30% | -21.17% | 15.93% | 33.56% | 33.70% | -24.00% | 20.02% |
Correlation
The correlation between DMAGX and DRESX is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.72 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Apr 7, 2017 | 0.80 |
The correlation between DMAGX and DRESX shifts across timeframes, from 0.68 (3 years) to 0.80 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DMAGX vs. DRESX — Risk / Return Rank
DMAGX
DRESX
DMAGX vs. DRESX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Driehaus Emerging Markets Opportunities Fund (DMAGX) and Driehaus Emerging Markets Small Cap Growth Fund (DRESX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DMAGX | DRESX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.16 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 0.75 | +1.38 |
| Martin ratioReturn relative to average drawdown | 7.21 | 2.74 | +4.46 |
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Drawdowns
DMAGX vs. DRESX - Drawdown Comparison
The maximum DMAGX drawdown since its inception was -34.21%, roughly equal to the maximum DRESX drawdown of -33.38%. Use the drawdown chart below to compare losses from any high point for DMAGX and DRESX.
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Drawdown Indicators
| DMAGX | DRESX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.21% | -33.38% | -0.83% |
Max Drawdown (1Y)Largest decline over 1 year | -10.18% | -20.40% | +10.22% |
Max Drawdown (3Y)Largest decline over 3 years | -18.03% | -20.40% | +2.37% |
Max Drawdown (5Y)Largest decline over 5 years | -29.34% | -25.88% | -3.46% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.38% | — |
Current DrawdownCurrent decline from peak | -6.36% | -19.05% | +12.69% |
Average DrawdownAverage peak-to-trough decline | -9.71% | -9.91% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 5.52% | -2.52% |
Volatility
DMAGX vs. DRESX - Volatility Comparison
The current volatility for Driehaus Emerging Markets Opportunities Fund (DMAGX) is 5.53%, while Driehaus Emerging Markets Small Cap Growth Fund (DRESX) has a volatility of 7.19%. This indicates that DMAGX experiences smaller price fluctuations and is considered to be less risky than DRESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DMAGX | DRESX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.53% | 7.19% | -1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 14.50% | 16.63% | -2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.10% | 18.51% | -1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.51% | 15.41% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.62% | 16.23% | -0.61% |
DMAGX vs. DRESX - Expense Ratio Comparison
DMAGX has a 0.99% expense ratio, which is lower than DRESX's 1.24% expense ratio.
Dividends
DMAGX vs. DRESX - Dividend Comparison
DMAGX's dividend yield for the trailing twelve months is around 12.32%, more than DRESX's 2.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DMAGX Driehaus Emerging Markets Opportunities Fund | 12.32% | 13.99% | 8.34% | 1.45% | 2.08% | 4.57% | 2.34% | 1.15% | 0.84% | 4.91% |
DRESX Driehaus Emerging Markets Small Cap Growth Fund | 2.19% | 2.25% | 0.68% | 1.09% | 0.00% | 0.04% | 0.65% | 0.41% | 0.00% | 0.00% |
Frequently Asked Questions
DMAGX and DRESX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRESX has higher volatility (7.19%) compared to DMAGX (5.53%). In terms of maximum drawdown, DMAGX dropped -34.21% vs DRESX's -33.38%.
DMAGX currently has the higher Sharpe Ratio (1.27 vs 0.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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