DMAGX vs. DVSMX

Last updated Apr 2, 2026

Compare and contrast key facts about Driehaus Emerging Markets Opportunities Fund (DMAGX) and Driehaus Small Cap Growth Fund (DVSMX).

DMAGX is managed by Driehaus. It was launched on Apr 6, 2017. DVSMX is managed by Driehaus. It was launched on Aug 21, 2017.

Performance

DMAGX vs. DVSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Driehaus Emerging Markets Opportunities Fund (DMAGX) and Driehaus Small Cap Growth Fund (DVSMX). The values are adjusted to include any dividend payments, if applicable.

DMAGX vs. DVSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DMAGX Driehaus Emerging Markets Opportunities Fund	-0.30%	22.77%	26.16%	19.48%	-18.85%	-1.84%	30.20%	21.64%	-11.77%
DVSMX Driehaus Small Cap Growth Fund	-0.49%	16.66%	27.44%	18.93%	-34.12%	18.41%	63.95%	40.29%	-8.71%

Returns By Period

In the year-to-date period, DMAGX achieves a -0.30% return, which is significantly higher than DVSMX's -0.49% return.

DMAGX

• 1D: 3.22%
• 1M: -5.98%
• YTD: -0.30%
• 6M: 0.36%
• 1Y: 26.80%
• 3Y*: 20.39%
• 5Y*: 7.60%
• 10Y*: —

DVSMX

• 1D: 5.61%
• 1M: -8.39%
• YTD: -0.49%
• 6M: 4.42%
• 1Y: 39.62%
• 3Y*: 19.17%
• 5Y*: 4.23%
• 10Y*: —

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

DMAGX vs. DVSMX - Expense Ratio Comparison

Both DMAGX and DVSMX have an expense ratio of 0.99%.

DMAGX

Driehaus Emerging Markets Opportunities Fund

DVSMX

Driehaus Small Cap Growth Fund

Return for Risk

DMAGX vs. DVSMX — Risk / Return Rank

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

DMAGX

DMAGX Risk / Return Rank: 81
DMAGX Sharpe Ratio Rank: 79
DMAGX Sortino Ratio Rank: 79
DMAGX Omega Ratio Rank: 77
DMAGX Calmar Ratio Rank: 84
DMAGX Martin Ratio Rank: 84

DVSMX

DVSMX Risk / Return Rank: 74
DVSMX Sharpe Ratio Rank: 74
DVSMX Sortino Ratio Rank: 73
DVSMX Omega Ratio Rank: 64
DVSMX Calmar Ratio Rank: 84
DVSMX Martin Ratio Rank: 77

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.

DMAGX vs. DVSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Driehaus Emerging Markets Opportunities Fund (DMAGX) and Driehaus Small Cap Growth Fund (DVSMX). 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.

	DMAGX	DVSMX	Difference
Sharpe ratio Return per unit of total volatility	1.54	1.39	+0.15
Sortino ratio Return per unit of downside risk	2.15	1.91	+0.24
Omega ratio Gain probability vs. loss probability	1.32	1.26	+0.06
Calmar ratio Return relative to maximum drawdown	2.33	2.19	+0.14
Martin ratio Return relative to average drawdown	9.31	7.87	+1.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DMAGX vs. DVSMX - Sharpe Ratio Comparison

The current DMAGX Sharpe Ratio is 1.54, which is comparable to the DVSMX Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of DMAGX and DVSMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DMAGX	DVSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.39	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.15	+0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.49	+0.19

Correlation

The correlation between DMAGX and DVSMX is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

DMAGX vs. DVSMX - Dividend Comparison

DMAGX's dividend yield for the trailing twelve months is around 14.03%, more than DVSMX's 0.21% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DMAGX Driehaus Emerging Markets Opportunities Fund	14.03%	13.99%	8.34%	1.45%	2.08%	4.57%	2.34%	1.15%	0.84%	4.91%
DVSMX Driehaus Small Cap Growth Fund	0.21%	0.21%	1.08%	0.38%	2.15%	17.58%	6.55%	6.34%	2.87%	0.00%

Drawdowns

DMAGX vs. DVSMX - Drawdown Comparison

The maximum DMAGX drawdown since its inception was -34.21%, smaller than the maximum DVSMX drawdown of -47.64%. Use the drawdown chart below to compare losses from any high point for DMAGX and DVSMX.

Drawdown Indicators

	DMAGX	DVSMX	Difference
Max Drawdown Largest peak-to-trough decline	-34.21%	-47.64%	+13.43%
Max Drawdown (1Y) Largest decline over 1 year	-10.80%	-15.39%	+4.59%
Max Drawdown (5Y) Largest decline over 5 years	-31.38%	-47.64%	+16.26%
Current Drawdown Current decline from peak	-7.29%	-10.64%	+3.35%
Average Drawdown Average peak-to-trough decline	-9.99%	-17.55%	+7.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	4.29%	-1.59%

Volatility

DMAGX vs. DVSMX - Volatility Comparison

The current volatility for Driehaus Emerging Markets Opportunities Fund (DMAGX) is 7.36%, while Driehaus Small Cap Growth Fund (DVSMX) has a volatility of 11.91%. This indicates that DMAGX experiences smaller price fluctuations and is considered to be less risky than DVSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DMAGX	DVSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.36%	11.91%	-4.55%
Volatility (6M) Calculated over the trailing 6-month period	11.77%	20.51%	-8.74%
Volatility (1Y) Calculated over the trailing 1-year period	17.94%	28.54%	-10.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.01%	28.79%	-13.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.43%	29.52%	-14.09%