TMCIX vs. DVSMX

Last updated Jun 23, 2026

TMCIX (RBC SMID Cap Growth Fund) and DVSMX (Driehaus Small Cap Growth Fund) are both mutual funds - TMCIX is a Mid Cap Growth Equities fund managed by RBC Global Asset Management., while DVSMX is a Small Cap Growth Equities fund managed by Driehaus. Over the past 5 years, TMCIX returned 3.88%/yr vs 9.15%/yr for DVSMX. Their correlation of 0.83 suggests significant overlap in exposure. TMCIX charges 0.82%/yr vs 0.99%/yr for DVSMX.

Performance

TMCIX vs. DVSMX - Performance Comparison

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

Returns By Period

In the year-to-date period, TMCIX achieves a 2.70% return, which is significantly lower than DVSMX's 21.11% return.

TMCIX

• 1D: 1.47%
• 1M: 4.17%
• YTD: 2.70%
• 6M: 0.59%
• 1Y: 10.08%
• 3Y*: 5.10%
• 5Y*: 3.88%
• 10Y*: 9.56%

DVSMX

• 1D: 2.51%
• 1M: 3.79%
• YTD: 21.11%
• 6M: 17.20%
• 1Y: 55.32%
• 3Y*: 24.38%
• 5Y*: 9.15%
• 10Y*: —

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

TMCIX vs. DVSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TMCIX RBC SMID Cap Growth Fund	2.70%	-0.79%	6.78%	17.32%	-16.59%	23.50%	20.52%	33.98%	-9.83%
DVSMX Driehaus Small Cap Growth Fund	21.11%	16.66%	27.44%	18.93%	-34.12%	18.41%	63.95%	40.29%	-8.71%

Correlation

The correlation between TMCIX and DVSMX is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since May 9, 2018	0.83

The correlation between TMCIX and DVSMX shifts across timeframes, from 0.66 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TMCIX vs. DVSMX — Risk / Return Rank

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

TMCIX

TMCIX Risk / Return Rank: 8
TMCIX Sharpe Ratio Rank: 8
TMCIX Sortino Ratio Rank: 9
TMCIX Omega Ratio Rank: 8
TMCIX Calmar Ratio Rank: 8
TMCIX Martin Ratio Rank: 8

DVSMX

DVSMX Risk / Return Rank: 62
DVSMX Sharpe Ratio Rank: 58
DVSMX Sortino Ratio Rank: 46
DVSMX Omega Ratio Rank: 46
DVSMX Calmar Ratio Rank: 82
DVSMX Martin Ratio Rank: 76

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.

TMCIX vs. DVSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RBC SMID Cap Growth Fund (TMCIX) and Driehaus Small Cap Growth Fund (DVSMX). 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.

	TMCIX	DVSMX	Difference
Sharpe ratio: Return per unit of total volatility	0.61	2.08	-1.47
Sortino ratio: Return per unit of downside risk	1.02	2.63	-1.61
Omega ratio: Gain probability vs. loss probability	1.11	1.34	-0.23
Calmar ratio: Return relative to maximum drawdown	0.74	3.60	-2.86
Martin ratio: Return relative to average drawdown	2.05	13.34	-11.29

TMCIX vs. DVSMX - Sharpe Ratio Comparison

The current TMCIX Sharpe Ratio is 0.61, which is lower than the DVSMX Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of TMCIX and DVSMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TMCIX vs. DVSMX - Drawdown Comparison

The maximum TMCIX drawdown since its inception was -57.70%, which is greater than DVSMX's maximum drawdown of -47.64%. Use the drawdown chart below to compare losses from any high point for TMCIX and DVSMX.

Drawdown Indicators

	TMCIX	DVSMX	Difference
Max Drawdown Largest peak-to-trough decline	-57.70%	-47.64%	-10.06%
Max Drawdown (1Y) Largest decline over 1 year	-13.76%	-15.39%	+1.63%
Max Drawdown (3Y) Largest decline over 3 years	-25.64%	-34.77%	+9.13%
Max Drawdown (5Y) Largest decline over 5 years	-25.64%	-47.64%	+22.00%
Max Drawdown (10Y) Largest decline over 10 years	-37.34%	—	—
Current Drawdown Current decline from peak	-4.58%	0.00%	-4.58%
Average Drawdown Average peak-to-trough decline	-16.55%	-17.14%	+0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.93%	4.14%	+0.79%

Volatility

TMCIX vs. DVSMX - Volatility Comparison

The current volatility for RBC SMID Cap Growth Fund (TMCIX) is 4.45%, while Driehaus Small Cap Growth Fund (DVSMX) has a volatility of 10.16%. This indicates that TMCIX experiences smaller price fluctuations and is considered to be less risky than DVSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TMCIX	DVSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	10.16%	-5.71%
Volatility (6M) Calculated over the trailing 6-month period	12.16%	21.19%	-9.03%
Volatility (1Y) Calculated over the trailing 1-year period	16.63%	26.69%	-10.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.22%	29.07%	-8.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.77%	29.54%	-8.77%

TMCIX vs. DVSMX - Expense Ratio Comparison

TMCIX has a 0.82% expense ratio, which is lower than DVSMX's 0.99% expense ratio.

Dividends

TMCIX vs. DVSMX - Dividend Comparison

TMCIX's dividend yield for the trailing twelve months is around 7.58%, more than DVSMX's 0.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVSMX Driehaus Small Cap Growth Fund	0.17%	0.21%	1.08%	0.38%	2.15%	17.58%	6.55%	6.34%	2.87%	0.00%	0.00%	0.00%
TMCIX RBC SMID Cap Growth Fund	7.58%	7.78%	1.32%	2.04%	7.82%	24.68%	2.63%	7.32%	9.26%	22.57%	7.25%	11.05%

Frequently Asked Questions

Can I hold both TMCIX and DVSMX in my portfolio?

TMCIX and DVSMX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMCIX or DVSMX?

DVSMX has higher volatility (10.16%) compared to TMCIX (4.45%). In terms of maximum drawdown, TMCIX dropped -57.70% vs DVSMX's -47.64%.

Which has better risk-adjusted returns?

DVSMX currently has the higher Sharpe Ratio (2.08 vs 0.61), 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.