DRIOX vs. DEVDX

Last updated Jun 4, 2026

DRIOX (Driehaus International Small Cap Growth Fund) and DEVDX (Driehaus Event Driven Fund) are both mutual funds - DRIOX is a Foreign Small & Mid Cap Equities fund managed by Driehaus, while DEVDX is a Event Driven fund managed by Driehaus. At a 0.46 correlation, their price movements are largely independent. DRIOX charges 1.16%/yr vs 1.66%/yr for DEVDX.

Performance

DRIOX vs. DEVDX - Performance Comparison

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

Returns By Period

DRIOX

• 1D: 0.15%
• 1M: 5.71%
• YTD: 13.20%
• 6M: 15.55%
• 1Y: 24.80%
• 3Y*: 17.73%
• 5Y*: 4.79%
• 10Y*: 10.12%

DEVDX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DRIOX vs. DEVDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DRIOX Driehaus International Small Cap Growth Fund	13.20%	28.93%	3.15%	11.96%	-24.37%	12.44%	29.84%	30.41%	-17.03%	41.53%
DEVDX Driehaus Event Driven Fund	-1.35%	5.99%	3.06%	9.59%	-9.99%	7.24%	24.78%	20.49%	-4.06%	4.35%

Correlation

The correlation between DRIOX and DEVDX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.46

The correlation between DRIOX and DEVDX shifts across timeframes, from 0.27 (1 year) to 0.49 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DRIOX vs. DEVDX — Risk / Return Rank

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

DRIOX

DRIOX Risk / Return Rank: 23
DRIOX Sharpe Ratio Rank: 24
DRIOX Sortino Ratio Rank: 24
DRIOX Omega Ratio Rank: 24
DRIOX Calmar Ratio Rank: 21
DRIOX Martin Ratio Rank: 25

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.

DRIOX vs. DEVDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Driehaus International Small Cap Growth Fund (DRIOX) and Driehaus Event Driven Fund (DEVDX). 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.

	DRIOX	DEVDX	Difference
Sharpe ratio Return per unit of total volatility	1.41	—	—
Sortino ratio Return per unit of downside risk	2.04	—	—
Omega ratio Gain probability vs. loss probability	1.25	—	—
Calmar ratio Return relative to maximum drawdown	1.67	—	—
Martin ratio Return relative to average drawdown	6.11	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DRIOX	DEVDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	—	—

Drawdowns

Drawdown Indicators

	DRIOX	DEVDX	Difference
Max Drawdown Largest peak-to-trough decline	-59.68%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-14.47%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-17.23%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-47.73%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.73%	—	—
Current Drawdown Current decline from peak	-0.69%	—	—
Average Drawdown Average peak-to-trough decline	-15.30%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.94%	—	—

Volatility

Volatility by Period

	DRIOX	DEVDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.70%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.45%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.23%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.90%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.96%	—	—

DRIOX vs. DEVDX - Expense Ratio Comparison

DRIOX has a 1.16% expense ratio, which is lower than DEVDX's 1.66% expense ratio.

Dividends

DRIOX vs. DEVDX - Dividend Comparison

DRIOX's dividend yield for the trailing twelve months is around 0.94%, less than DEVDX's 16.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEVDX Driehaus Event Driven Fund	16.48%	14.24%	1.35%	4.48%	1.49%	12.11%	3.48%	4.09%	3.57%	0.00%	1.20%	0.66%
DRIOX Driehaus International Small Cap Growth Fund	0.94%	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 DRIOX and DEVDX in my portfolio?

DRIOX and DEVDX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.