DRESX vs. EEMS
DRESX (Driehaus Emerging Markets Small Cap Growth Fund) and EEMS (iShares MSCI Emerging Markets Small-Cap ETF) are both Emerging Markets Diversified funds. Over the past 10 years, DRESX returned 11.48%/yr vs 9.77%/yr for EEMS. A 0.68 correlation means they provide meaningful diversification when combined. DRESX charges 1.24%/yr vs 0.73%/yr for EEMS.
Performance
DRESX vs. EEMS - Performance Comparison
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Returns By Period
In the year-to-date period, DRESX achieves a 20.46% return, which is significantly higher than EEMS's 16.14% return. Over the past 10 years, DRESX has outperformed EEMS with an annualized return of 11.48%, while EEMS has yielded a comparatively lower 9.77% annualized return.
DRESX
- 1D
- 0.86%
- 1M
- 0.38%
- YTD
- 20.46%
- 6M
- 21.61%
- 1Y
- 40.82%
- 3Y*
- 20.59%
- 5Y*
- 9.15%
- 10Y*
- 11.48%
EEMS
- 1D
- -0.13%
- 1M
- 1.98%
- YTD
- 16.14%
- 6M
- 17.52%
- 1Y
- 30.37%
- 3Y*
- 17.04%
- 5Y*
- 7.28%
- 10Y*
- 9.77%
DRESX vs. EEMS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRESX Driehaus Emerging Markets Small Cap Growth Fund | 20.46% | 24.08% | 14.86% | 10.30% | -21.17% | 15.93% | 33.56% | 33.70% | -24.00% | 33.30% |
EEMS iShares MSCI Emerging Markets Small-Cap ETF | 16.14% | 19.78% | 3.13% | 23.09% | -19.12% | 18.12% | 19.47% | 11.25% | -18.98% | 34.80% |
Correlation
The correlation between DRESX and EEMS is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Aug 26, 2011 | 0.68 |
The correlation between DRESX and EEMS shifts across timeframes, from 0.68 (all time) to 0.79 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DRESX vs. EEMS — Risk / Return Rank
DRESX
EEMS
DRESX vs. EEMS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Driehaus Emerging Markets Small Cap Growth Fund (DRESX) and iShares MSCI Emerging Markets Small-Cap ETF (EEMS). 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.
| DRESX | EEMS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.31 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 2.81 | +0.83 |
| Martin ratioReturn relative to average drawdown | 11.43 | 9.45 | +1.98 |
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Drawdowns
DRESX vs. EEMS - Drawdown Comparison
The maximum DRESX drawdown since its inception was -33.38%, smaller than the maximum EEMS drawdown of -48.89%. Use the drawdown chart below to compare losses from any high point for DRESX and EEMS.
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Drawdown Indicators
| DRESX | EEMS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.38% | -48.89% | +15.51% |
Max Drawdown (1Y)Largest decline over 1 year | -10.92% | -10.87% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -17.65% | -19.71% | +2.06% |
Max Drawdown (5Y)Largest decline over 5 years | -25.88% | -27.07% | +1.19% |
Max Drawdown (10Y)Largest decline over 10 years | -33.38% | -48.89% | +15.51% |
Current DrawdownCurrent decline from peak | -4.98% | -1.12% | -3.86% |
Average DrawdownAverage peak-to-trough decline | -9.89% | -10.48% | +0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 3.22% | +0.24% |
Volatility
DRESX vs. EEMS - Volatility Comparison
The current volatility for Driehaus Emerging Markets Small Cap Growth Fund (DRESX) is 7.71%, while iShares MSCI Emerging Markets Small-Cap ETF (EEMS) has a volatility of 8.89%. This indicates that DRESX experiences smaller price fluctuations and is considered to be less risky than EEMS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRESX | EEMS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.71% | 8.89% | -1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 14.66% | 16.68% | -2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.65% | 18.69% | -2.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.01% | 16.40% | -1.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.03% | 18.13% | -2.10% |
DRESX vs. EEMS - Expense Ratio Comparison
DRESX has a 1.24% expense ratio, which is higher than EEMS's 0.73% expense ratio.
Dividends
DRESX vs. EEMS - Dividend Comparison
DRESX's dividend yield for the trailing twelve months is around 1.87%, less than EEMS's 2.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRESX Driehaus Emerging Markets Small Cap Growth Fund | 1.87% | 2.25% | 0.68% | 1.09% | 0.00% | 0.04% | 0.65% | 0.41% | 0.00% | 0.00% | 0.00% | 0.00% |
EEMS iShares MSCI Emerging Markets Small-Cap ETF | 2.75% | 3.09% | 2.60% | 2.69% | 0.89% | 3.56% | 2.14% | 2.64% | 3.06% | 2.47% | 2.51% | 2.33% |
Frequently Asked Questions
DRESX and EEMS have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EEMS has higher volatility (8.89%) compared to DRESX (7.71%). In terms of maximum drawdown, DRESX dropped -33.38% vs EEMS's -48.89%.
DRESX currently has the higher Sharpe Ratio (2.39 vs 1.64), 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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