DREGX vs. DRIOX

Last updated Aug 1, 2026

DREGX (Driehaus Emerging Markets Growth Fund) and DRIOX (Driehaus International Small Cap Growth Fund) are both mutual funds - DREGX is a Emerging Markets Equities fund managed by Driehaus, while DRIOX is a Foreign Small & Mid Cap Equities fund managed by Driehaus. Over the past 10 years, DREGX returned 9.52%/yr vs 9.30%/yr for DRIOX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. DREGX charges 1.34%/yr vs 1.16%/yr for DRIOX.

Performance

DREGX vs. DRIOX - Performance Comparison

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

Returns By Period

In the year-to-date period, DREGX achieves a 16.77% return, which is significantly higher than DRIOX's 5.51% return. Both investments have delivered pretty close results over the past 10 years, with DREGX having a 9.52% annualized return and DRIOX not far behind at 9.30%.

DREGX

• 1D: 4.17%
• 1M: -5.24%
• 6M: 6.56%
• YTD: 16.77%
• 1Y: 37.08%
• 3Y*: 17.73%
• 5Y*: 6.41%
• 10Y*: 9.52%
• ALL TIME*: 10.42%

DRIOX

• 1D: 2.99%
• 1M: -3.36%
• 6M: 0.92%
• YTD: 5.51%
• 1Y: 11.23%
• 3Y*: 13.32%
• 5Y*: 3.24%
• 10Y*: 9.30%
• ALL TIME*: 7.50%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DREGX Driehaus Emerging Markets Growth Fund	$0.00	$0.00	$0.00
DRIOX Driehaus International Small Cap Growth Fund	$0.00	$0.00	$0.00

DREGX vs. DRIOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DREGX Driehaus Emerging Markets Growth Fund	16.77%	29.95%	7.40%	11.26%	-22.54%	-1.95%	27.36%	25.34%	-16.26%	42.52%
DRIOX Driehaus International Small Cap Growth Fund	5.51%	28.93%	3.15%	11.96%	-24.37%	12.44%	29.84%	30.41%	-17.03%	41.53%

Correlation

The correlation between DREGX and DRIOX is 0.76, 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.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (10Y) Provides a long-term view across more market conditions.	0.76
Correlation (All Time) Calculated using the full available price history since Sep 19, 2007	0.80

The correlation between DREGX and DRIOX has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.

Return for Risk

DREGX vs. DRIOX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DREGX

DREGX Risk / Return Rank: 58
DREGX Sharpe Ratio Rank: 57
DREGX Sortino Ratio Rank: 48
DREGX Omega Ratio Rank: 61
DREGX Calmar Ratio Rank: 69
DREGX Martin Ratio Rank: 55

DRIOX

DRIOX Risk / Return Rank: 16
DRIOX Sharpe Ratio Rank: 15
DRIOX Sortino Ratio Rank: 16
DRIOX Omega Ratio Rank: 16
DRIOX Calmar Ratio Rank: 16
DRIOX Martin Ratio Rank: 18

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DREGX vs. DRIOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Driehaus Emerging Markets Growth Fund (DREGX) and Driehaus International Small Cap Growth Fund (DRIOX). 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.

	DREGX	DRIOX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	0.60	+0.86
Sortino ratio: Return per unit of downside risk	1.93	0.96	+0.97
Omega ratio: Gain probability vs. loss probability	1.28	1.12	+0.16
Calmar ratio: Return relative to maximum drawdown	2.31	0.78	+1.52
Martin ratio: Return relative to average drawdown	7.51	2.52	+4.99

DREGX vs. DRIOX - Sharpe Ratio Comparison

The current DREGX Sharpe Ratio is 1.46, which is higher than the DRIOX Sharpe Ratio of 0.60. The chart below compares the historical Sharpe Ratios of DREGX and DRIOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DREGX vs. DRIOX - Drawdown Comparison

The maximum DREGX drawdown since its inception was -65.44%, which is greater than DRIOX's maximum drawdown of -59.68%. Use the drawdown chart below to compare losses from any high point for DREGX and DRIOX.

Drawdown Indicators

	DREGX	DRIOX	Difference
Max Drawdown Largest peak-to-trough decline	-65.44%	-59.68%	-5.76%
Max Drawdown (1Y) Largest decline over 1 year	-14.99%	-14.47%	-0.52%
Max Drawdown (3Y) Largest decline over 3 years	-17.47%	-17.23%	-0.24%
Max Drawdown (5Y) Largest decline over 5 years	-36.41%	-47.73%	+11.32%
Max Drawdown (10Y) Largest decline over 10 years	-36.47%	-47.73%	+11.26%
Current Drawdown Current decline from peak	-11.45%	-7.44%	-4.01%
Average Drawdown Average peak-to-trough decline	-17.33%	-15.21%	-2.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.59%	4.48%	+0.11%

Volatility

DREGX vs. DRIOX - Volatility Comparison

Driehaus Emerging Markets Growth Fund (DREGX) has a higher volatility of 10.00% compared to Driehaus International Small Cap Growth Fund (DRIOX) at 6.45%. This indicates that DREGX's price experiences larger fluctuations and is considered to be riskier than DRIOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DREGX	DRIOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.00%	6.45%	+3.55%
Volatility (6M) Calculated over the trailing 6-month period	21.31%	16.64%	+4.67%
Volatility (1Y) Calculated over the trailing 1-year period	23.69%	19.01%	+4.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.27%	24.16%	-3.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.13%	20.92%	-1.79%

DREGX vs. DRIOX - Expense Ratio Comparison

DREGX has a 1.34% expense ratio, which is higher than DRIOX's 1.16% expense ratio.

Dividends

DREGX vs. DRIOX - Dividend Comparison

DREGX's dividend yield for the trailing twelve months is around 1.45%, more than DRIOX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DREGX Driehaus Emerging Markets Growth Fund	1.45%	1.69%	0.89%	1.81%	0.75%	16.71%	2.48%	0.82%	4.33%	0.59%	0.00%	0.00%
DRIOX Driehaus International Small Cap Growth Fund	1.01%	1.06%	0.51%	1.16%	5.94%	27.01%	8.26%	0.77%	16.19%	15.63%	0.00%	2.72%

Frequently Asked Questions

Can I hold both DREGX and DRIOX in my portfolio?

DREGX and DRIOX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DREGX or DRIOX?

DREGX has higher volatility (10.00%) compared to DRIOX (6.45%). In terms of maximum drawdown, DREGX dropped -65.44% vs DRIOX's -59.68%.

Which has better risk-adjusted returns?

DREGX currently has the higher Sharpe Ratio (1.46 vs 0.60), 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.