DSMDX vs. PKSFX

Last updated Jun 4, 2026

DSMDX (Driehaus Small/Mid Cap Growth Fund) and PKSFX (Virtus KAR Small-Cap Core Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, DSMDX returned 9.02%/yr vs 7.76%/yr for PKSFX. A 0.71 correlation means they provide meaningful diversification when combined. DSMDX charges 0.95%/yr vs 1.00%/yr for PKSFX.

Performance

DSMDX vs. PKSFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Driehaus Small/Mid Cap Growth Fund (DSMDX) and Virtus KAR Small-Cap Core Fund (PKSFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DSMDX achieves a 20.77% return, which is significantly higher than PKSFX's 3.17% return.

DSMDX

• 1D: 2.21%
• 1M: 6.90%
• YTD: 20.77%
• 6M: 19.60%
• 1Y: 42.62%
• 3Y*: 22.95%
• 5Y*: 9.02%
• 10Y*: —

PKSFX

• 1D: -0.10%
• 1M: -1.03%
• YTD: 3.17%
• 6M: 3.35%
• 1Y: 3.59%
• 3Y*: 10.77%
• 5Y*: 7.76%
• 10Y*: 14.68%

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

DSMDX vs. PKSFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DSMDX Driehaus Small/Mid Cap Growth Fund	20.77%	9.83%	26.45%	20.71%	-31.46%	17.96%	74.27%
PKSFX Virtus KAR Small-Cap Core Fund	3.17%	-2.58%	13.67%	32.32%	-10.77%	19.03%	38.50%

Correlation

The correlation between DSMDX and PKSFX is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since May 4, 2020	0.71

The correlation between DSMDX and PKSFX shifts across timeframes, from 0.52 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DSMDX vs. PKSFX — Risk / Return Rank

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

DSMDX

DSMDX Risk / Return Rank: 45
DSMDX Sharpe Ratio Rank: 39
DSMDX Sortino Ratio Rank: 32
DSMDX Omega Ratio Rank: 33
DSMDX Calmar Ratio Rank: 64
DSMDX Martin Ratio Rank: 59

PKSFX

PKSFX Risk / Return Rank: 4
PKSFX Sharpe Ratio Rank: 4
PKSFX Sortino Ratio Rank: 5
PKSFX Omega Ratio Rank: 4
PKSFX Calmar Ratio Rank: 5
PKSFX Martin Ratio Rank: 4

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.

DSMDX vs. PKSFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Driehaus Small/Mid Cap Growth Fund (DSMDX) and Virtus KAR Small-Cap Core Fund (PKSFX). 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.

	DSMDX	PKSFX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	0.30	+1.51
Sortino ratio: Return per unit of downside risk	2.36	0.57	+1.79
Omega ratio: Gain probability vs. loss probability	1.31	1.06	+0.24
Calmar ratio: Return relative to maximum drawdown	3.07	0.41	+2.66
Martin ratio: Return relative to average drawdown	11.74	0.87	+10.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DSMDX vs. PKSFX - Sharpe Ratio Comparison

The current DSMDX Sharpe Ratio is 1.81, which is higher than the PKSFX Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of DSMDX and PKSFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DSMDX	PKSFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	0.30	+1.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.43	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.56	+0.17

Drawdowns

DSMDX vs. PKSFX - Drawdown Comparison

The maximum DSMDX drawdown since its inception was -41.90%, smaller than the maximum PKSFX drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for DSMDX and PKSFX.

Drawdown Indicators

	DSMDX	PKSFX	Difference
Max Drawdown Largest peak-to-trough decline	-41.90%	-54.46%	+12.56%
Max Drawdown (1Y) Largest decline over 1 year	-14.51%	-11.19%	-3.32%
Max Drawdown (3Y) Largest decline over 3 years	-33.05%	-21.82%	-11.23%
Max Drawdown (5Y) Largest decline over 5 years	-41.90%	-22.02%	-19.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.45%	—
Current Drawdown Current decline from peak	-0.20%	-7.97%	+7.77%
Average Drawdown Average peak-to-trough decline	-15.72%	-7.17%	-8.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.78%	5.34%	-1.56%

Volatility

DSMDX vs. PKSFX - Volatility Comparison

Driehaus Small/Mid Cap Growth Fund (DSMDX) has a higher volatility of 8.55% compared to Virtus KAR Small-Cap Core Fund (PKSFX) at 4.22%. This indicates that DSMDX's price experiences larger fluctuations and is considered to be riskier than PKSFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DSMDX	PKSFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.55%	4.22%	+4.33%
Volatility (6M) Calculated over the trailing 6-month period	19.78%	10.99%	+8.79%
Volatility (1Y) Calculated over the trailing 1-year period	24.62%	15.31%	+9.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.77%	17.93%	+7.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.99%	18.83%	+7.16%

DSMDX vs. PKSFX - Expense Ratio Comparison

DSMDX has a 0.95% expense ratio, which is lower than PKSFX's 1.00% expense ratio.

Dividends

DSMDX vs. PKSFX - Dividend Comparison

DSMDX's dividend yield for the trailing twelve months is around 0.34%, less than PKSFX's 13.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DSMDX Driehaus Small/Mid Cap Growth Fund	0.34%	0.41%	0.33%	0.00%	3.72%	7.93%	1.37%	0.00%	0.00%	0.00%	0.00%	0.00%
PKSFX Virtus KAR Small-Cap Core Fund	13.86%	14.30%	4.07%	4.12%	6.65%	12.05%	7.45%	4.03%	4.33%	0.17%	5.69%	19.83%

Frequently Asked Questions

Can I hold both DSMDX and PKSFX in my portfolio?

DSMDX and PKSFX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DSMDX or PKSFX?

DSMDX has higher volatility (8.55%) compared to PKSFX (4.22%). In terms of maximum drawdown, DSMDX dropped -41.90% vs PKSFX's -54.46%.

Which has better risk-adjusted returns?

DSMDX currently has the higher Sharpe Ratio (1.81 vs 0.30), 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.