DREGX vs. DSMDX
DREGX (Driehaus Emerging Markets Growth Fund) and DSMDX (Driehaus Small/Mid Cap Growth Fund) are both mutual funds - DREGX is a Emerging Markets Equities fund managed by Driehaus, while DSMDX is a Mid Cap Growth Equities fund managed by Driehaus. Over the past 5 years, DREGX returned 6.41%/yr vs 5.50%/yr for DSMDX. Their 0.65 correlation means they have sometimes moved together and sometimes differently. DREGX charges 1.34%/yr vs 0.95%/yr for DSMDX.
Performance
DREGX vs. DSMDX - Performance Comparison
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Returns By Period
In the year-to-date period, DREGX achieves a 16.77% return, which is significantly higher than DSMDX's 8.67% return.
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%
DSMDX
- 1D
- 2.61%
- 1M
- -6.93%
- 6M
- 1.22%
- YTD
- 8.67%
- 1Y
- 22.53%
- 3Y*
- 15.12%
- 5Y*
- 5.50%
- 10Y*
- —
- ALL TIME*
- 16.29%
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 |
DREGX vs. DSMDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DREGX Driehaus Emerging Markets Growth Fund | 16.77% | 29.95% | 7.40% | 11.26% | -22.54% | -1.95% | 47.77% |
DSMDX Driehaus Small/Mid Cap Growth Fund | 8.67% | 9.83% | 26.45% | 20.71% | -31.46% | 17.96% | 74.27% |
Correlation
The correlation between DREGX and DSMDX is 0.74, 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. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.67 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.67 |
Correlation (All Time) Calculated using the full available price history since May 1, 2020 | 0.65 |
The correlation between DREGX and DSMDX has been stable across timeframes, ranging from 0.65 to 0.74 - a consistent structural relationship.
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Return for Risk
DREGX vs. DSMDX — Risk / Return Rank
DREGX
DSMDX
DREGX vs. DSMDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Driehaus Emerging Markets Growth Fund (DREGX) 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.
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 | DSMDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.14 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 1.40 | +0.91 |
| Martin ratioReturn relative to average drawdown | 7.51 | 4.39 | +3.12 |
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Drawdowns
DREGX vs. DSMDX - Drawdown Comparison
The maximum DREGX drawdown since its inception was -65.44%, which is greater than DSMDX's maximum drawdown of -41.90%. Use the drawdown chart below to compare losses from any high point for DREGX and DSMDX.
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Drawdown Indicators
| DREGX | DSMDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.44% | -41.90% | -23.54% |
Max Drawdown (1Y)Largest decline over 1 year | -14.99% | -14.51% | -0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -17.47% | -33.05% | +15.58% |
Max Drawdown (5Y)Largest decline over 5 years | -36.41% | -41.90% | +5.49% |
Max Drawdown (10Y)Largest decline over 10 years | -36.47% | — | — |
Current DrawdownCurrent decline from peak | -11.45% | -12.21% | +0.76% |
Average DrawdownAverage peak-to-trough decline | -17.33% | -15.45% | -1.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.59% | 4.62% | -0.03% |
Volatility
DREGX vs. DSMDX - Volatility Comparison
Driehaus Emerging Markets Growth Fund (DREGX) has a higher volatility of 10.00% compared to Driehaus Small/Mid Cap Growth Fund (DSMDX) at 7.22%. This indicates that DREGX's price experiences larger fluctuations and is considered to be riskier than DSMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DREGX | DSMDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.00% | 7.22% | +2.78% |
Volatility (6M)Calculated over the trailing 6-month period | 21.31% | 22.25% | -0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.69% | 27.35% | -3.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.27% | 26.23% | -5.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.13% | 26.17% | -7.04% |
DREGX vs. DSMDX - Expense Ratio Comparison
DREGX has a 1.34% expense ratio, which is higher than DSMDX's 0.95% expense ratio.
Dividends
DREGX vs. DSMDX - Dividend Comparison
DREGX's dividend yield for the trailing twelve months is around 1.45%, more than DSMDX's 0.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
DSMDX Driehaus Small/Mid Cap Growth Fund | 0.38% | 0.41% | 0.33% | 0.00% | 3.72% | 7.93% | 1.37% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DREGX and DSMDX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DREGX has higher volatility (10.00%) compared to DSMDX (7.22%). In terms of maximum drawdown, DREGX dropped -65.44% vs DSMDX's -41.90%.
DREGX currently has the higher Sharpe Ratio (1.46 vs 0.75), 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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