DVSMX vs. HRSMX

Last updated Jun 5, 2026

DVSMX (Driehaus Small Cap Growth Fund) and HRSMX (Hood River Small-Cap Growth Fund) are both Small Cap Growth Equities funds. Over the past 5 years, DVSMX returned 8.41%/yr vs 15.62%/yr for HRSMX. Their correlation of 0.94 suggests significant overlap in exposure. DVSMX charges 0.99%/yr vs 1.09%/yr for HRSMX.

Performance

DVSMX vs. HRSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Driehaus Small Cap Growth Fund (DVSMX) and Hood River Small-Cap Growth Fund (HRSMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVSMX achieves a 18.79% return, which is significantly lower than HRSMX's 34.99% return.

DVSMX

• 1D: -0.56%
• 1M: 2.19%
• YTD: 18.79%
• 6M: 16.21%
• 1Y: 52.27%
• 3Y*: 24.44%
• 5Y*: 8.41%
• 10Y*: —

HRSMX

• 1D: -1.71%
• 1M: 4.01%
• YTD: 34.99%
• 6M: 31.70%
• 1Y: 75.86%
• 3Y*: 35.50%
• 5Y*: 15.62%
• 10Y*: 20.34%

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

DVSMX vs. HRSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DVSMX Driehaus Small Cap Growth Fund	18.79%	16.66%	27.44%	18.93%	-34.12%	18.41%	63.95%	40.29%	-8.71%
HRSMX Hood River Small-Cap Growth Fund	34.99%	23.85%	35.48%	21.52%	-27.99%	23.19%	60.80%	24.13%	-12.39%

Correlation

The correlation between DVSMX and HRSMX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since May 10, 2018	0.94

The correlation between DVSMX and HRSMX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

DVSMX vs. HRSMX — Risk / Return Rank

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

DVSMX

DVSMX Risk / Return Rank: 55
DVSMX Sharpe Ratio Rank: 51
DVSMX Sortino Ratio Rank: 41
DVSMX Omega Ratio Rank: 41
DVSMX Calmar Ratio Rank: 77
DVSMX Martin Ratio Rank: 68

HRSMX

HRSMX Risk / Return Rank: 84
HRSMX Sharpe Ratio Rank: 88
HRSMX Sortino Ratio Rank: 72
HRSMX Omega Ratio Rank: 66
HRSMX Calmar Ratio Rank: 96
HRSMX Martin Ratio Rank: 97

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.

DVSMX vs. HRSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Driehaus Small Cap Growth Fund (DVSMX) and Hood River Small-Cap Growth Fund (HRSMX). 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.

	DVSMX	HRSMX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.92	-0.83
Sortino ratio: Return per unit of downside risk	2.68	3.54	-0.86
Omega ratio: Gain probability vs. loss probability	1.34	1.45	-0.11
Calmar ratio: Return relative to maximum drawdown	3.44	6.35	-2.92
Martin ratio: Return relative to average drawdown	12.95	26.22	-13.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DVSMX vs. HRSMX - Sharpe Ratio Comparison

The current DVSMX Sharpe Ratio is 2.09, which is comparable to the HRSMX Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of DVSMX and HRSMX, 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

	DVSMX	HRSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	2.92	-0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.57	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.58	-0.01

Drawdowns

DVSMX vs. HRSMX - Drawdown Comparison

The maximum DVSMX drawdown since its inception was -47.64%, smaller than the maximum HRSMX drawdown of -64.92%. Use the drawdown chart below to compare losses from any high point for DVSMX and HRSMX.

Drawdown Indicators

	DVSMX	HRSMX	Difference
Max Drawdown Largest peak-to-trough decline	-47.64%	-64.92%	+17.28%
Max Drawdown (1Y) Largest decline over 1 year	-15.39%	-12.29%	-3.10%
Max Drawdown (3Y) Largest decline over 3 years	-34.77%	-33.04%	-1.73%
Max Drawdown (5Y) Largest decline over 5 years	-47.64%	-38.49%	-9.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.74%	—
Current Drawdown Current decline from peak	-1.00%	-1.93%	+0.93%
Average Drawdown Average peak-to-trough decline	-17.22%	-13.07%	-4.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.06%	2.97%	+1.09%

Volatility

DVSMX vs. HRSMX - Volatility Comparison

Driehaus Small Cap Growth Fund (DVSMX) and Hood River Small-Cap Growth Fund (HRSMX) have volatilities of 8.49% and 8.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVSMX	HRSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.49%	8.84%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	19.93%	21.46%	-1.53%
Volatility (1Y) Calculated over the trailing 1-year period	25.36%	26.82%	-1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.83%	27.30%	+1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.46%	25.98%	+3.48%

DVSMX vs. HRSMX - Expense Ratio Comparison

DVSMX has a 0.99% expense ratio, which is lower than HRSMX's 1.09% expense ratio.

Dividends

DVSMX vs. HRSMX - Dividend Comparison

DVSMX's dividend yield for the trailing twelve months is around 0.18%, less than HRSMX's 3.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVSMX Driehaus Small Cap Growth Fund	0.18%	0.21%	1.08%	0.38%	2.15%	17.58%	6.55%	6.34%	2.87%	0.00%	0.00%	0.00%
HRSMX Hood River Small-Cap Growth Fund	3.13%	4.23%	3.75%	0.00%	0.00%	19.96%	6.28%	0.00%	4.59%	6.74%	0.00%	5.73%

Frequently Asked Questions

Can I hold both DVSMX and HRSMX in my portfolio?

With a correlation of 0.93, DVSMX and HRSMX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DVSMX or HRSMX?

HRSMX has higher volatility (8.84%) compared to DVSMX (8.49%). In terms of maximum drawdown, DVSMX dropped -47.64% vs HRSMX's -64.92%.

Which has better risk-adjusted returns?

HRSMX currently has the higher Sharpe Ratio (2.92 vs 2.09), 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.