DRIEHAUS EMERGING MARKETS GROWTH FUND
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
10.0%
1 yr return
18.1%
3 Yr Avg Return
-3.0%
5 Yr Avg Return
4.5%
Net Assets
$2.82 B
Holdings in Top 10
37.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.31%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 169.00%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$10,000
IRA
$2,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DREGX - Profile
Distributions
- YTD Total Return 10.0%
- 3 Yr Annualized Total Return -3.0%
- 5 Yr Annualized Total Return 4.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.13%
- Dividend Yield 1.6%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameDRIEHAUS EMERGING MARKETS GROWTH FUND
-
Fund Family NameDriehaus
-
Inception DateJan 26, 2000
-
Shares OutstandingN/A
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerHoward Schwab
Fund Description
The Fund uses a growth style of investment in equity securities, including common stocks and other equity securities of issuers, and under normal market conditions, invests substantially all (no less than 80%) of its net assets (plus the amount of borrowings for investment purposes) in emerging markets companies. Emerging market companies are (i) companies organized under the laws of an emerging market country or having securities which are traded principally on an exchange or over-the-counter in an emerging market country; or (ii) companies which, regardless of where organized or traded, have a significant amount of assets located in and/or derive a significant amount of their revenues from goods purchased or sold, investments made or services performed in or with emerging market countries. There are no specific limitations on the
percentage of assets that may be invested in securities of issuers located in any one country at a given time; the Fund may invest significant assets in any single emerging market country. The Fund generally defines an “emerging market” as including, but not limited to, any of the countries or markets represented in the MSCI Emerging Markets Index, or any other country or market with similar emerging characteristics. The Fund may invest in companies with limited or no operating histories. The Fund frequently and actively trades its portfolio securities.
Investment decisions for the Fund’s growth style of investing, for those companies with operating histories, are based on the determination that a company’s revenue and earnings growth can materially exceed market expectations and that a company possesses the ability to undergo an incrementally positive change in growth and earnings trajectories. These decisions involve evaluating fundamental factors, including the company’s business model, the competitive landscape, upcoming product introductions and recent and projected financial metrics. The evaluation of behavioral and macro factors represents significant aspects of the investment adviser’s philosophy and are integrated into the investment adviser’s bottom-up analysis on individual securities. The decision is also informed by the evaluation of technical or market factors, including price and volume trends, relative strength and institutional interest. To a lesser extent, the Fund’s investment adviser also utilizes macroeconomic or country-specific analyses to evaluate the sustainability of a company’s growth rate. The Fund sells holdings for a variety of reasons, including the deterioration of the earnings profile, the violation of specific technical thresholds, to shift into securities with more compelling risk/reward characteristics or to alter sector or country exposure.
DREGX - Performance
Return Ranking - Trailing
Period | DREGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 10.0% | -12.2% | 31.8% | 54.37% |
1 Yr | 18.1% | -3.7% | 42.6% | 57.32% |
3 Yr | -3.0%* | -13.8% | 11.6% | 53.95% |
5 Yr | 4.5%* | -5.2% | 11.6% | 35.70% |
10 Yr | 4.7%* | -2.2% | 6.6% | 21.05% |
* Annualized
Return Ranking - Calendar
Period | DREGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 9.2% | -6.5% | 35.5% | 46.14% |
2022 | -23.1% | -50.1% | -2.4% | 35.89% |
2021 | -16.1% | -33.1% | 22.5% | 88.67% |
2020 | 24.2% | -22.1% | 80.1% | 26.88% |
2019 | 24.3% | -0.7% | 42.0% | 16.39% |
Total Return Ranking - Trailing
Period | DREGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 10.0% | -12.2% | 31.8% | 54.37% |
1 Yr | 18.1% | -3.7% | 42.6% | 57.32% |
3 Yr | -3.0%* | -13.8% | 11.6% | 53.95% |
5 Yr | 4.5%* | -5.2% | 11.6% | 35.70% |
10 Yr | 4.7%* | -2.2% | 6.6% | 21.05% |
* Annualized
Total Return Ranking - Calendar
Period | DREGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.2% | -2.7% | 42.0% | 47.55% |
2022 | -22.5% | -42.2% | 1.9% | 50.36% |
2021 | -1.9% | -32.5% | 33.1% | 54.52% |
2020 | 27.3% | -20.0% | 81.6% | 23.04% |
2019 | 25.3% | 2.3% | 42.0% | 25.50% |
NAV & Total Return History
DREGX - Holdings
Concentration Analysis
DREGX | Category Low | Category High | DREGX % Rank | |
---|---|---|---|---|
Net Assets | 2.82 B | 682 K | 103 B | 19.47% |
Number of Holdings | 121 | 9 | 7534 | 38.80% |
Net Assets in Top 10 | 1.17 B | 290 K | 23.8 B | 18.35% |
Weighting of Top 10 | 37.56% | 2.9% | 101.1% | 35.62% |
Top 10 Holdings
- Taiwan Semiconductor Manufacturing Co., Ltd. SPON ADS REP 5 ORD TWD10 8.47%
- Tencent Holdings Ltd. HKD0.00002 6.60%
- Northern Inst Fds GOVT SELECT PT 6.48%
- Samsung Electronics Co Ltd. KRW100 5.66%
- ICICI Bank Ltd. SPON ADR EACH REP 2 ORD SHS 2.56%
- SK Hynix Inc. KRW5000 1.77%
- Reliance Industries Ltd. INR10(100%DEMAT) 1.69%
- Tencent Music Entertainment Group SPON ADS EA REP 2 ORD SHS 1.48%
- Shell PLC ORD EUR0.07 1.44%
- PetroChina Co Ltd. 'H'CNY1 1.41%
Asset Allocation
Weighting | Return Low | Return High | DREGX % Rank | |
---|---|---|---|---|
Stocks | 94.84% | 0.00% | 107.82% | 74.93% |
Cash | 6.48% | -2.03% | 98.08% | 4.34% |
Preferred Stocks | 0.00% | 0.00% | 13.31% | 65.13% |
Other | 0.00% | -1.11% | 26.93% | 44.82% |
Convertible Bonds | 0.00% | 0.00% | 7.40% | 21.86% |
Bonds | 0.00% | 0.00% | 88.10% | 28.85% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DREGX % Rank | |
---|---|---|---|---|
Financial Services | 23.21% | 0.00% | 48.86% | 36.03% |
Technology | 19.06% | 0.00% | 47.50% | 74.89% |
Consumer Defense | 10.35% | 0.00% | 25.90% | 11.91% |
Communication Services | 9.53% | 0.00% | 39.29% | 42.98% |
Healthcare | 7.84% | 0.00% | 16.53% | 15.46% |
Energy | 7.53% | 0.00% | 24.80% | 11.63% |
Basic Materials | 6.90% | 0.00% | 30.03% | 63.69% |
Industrials | 6.86% | 0.00% | 43.53% | 37.87% |
Consumer Cyclical | 6.06% | 0.00% | 48.94% | 96.31% |
Utilities | 1.42% | 0.00% | 39.12% | 46.67% |
Real Estate | 1.24% | 0.00% | 17.15% | 60.99% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DREGX % Rank | |
---|---|---|---|---|
Non US | 71.33% | 0.00% | 100.18% | 89.22% |
US | 23.51% | 0.00% | 100.95% | 13.59% |
DREGX - Expenses
Operational Fees
DREGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.31% | 0.03% | 29.98% | 50.42% |
Management Fee | 0.94% | 0.00% | 2.00% | 61.01% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.85% | 39.23% |
Sales Fees
DREGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
DREGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 1.00% | 2.00% | 20.69% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
DREGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 169.00% | 0.00% | 189.00% | 97.76% |
DREGX - Distributions
Dividend Yield Analysis
DREGX | Category Low | Category High | DREGX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.65% | 0.00% | 9.74% | 51.68% |
Dividend Distribution Analysis
DREGX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Monthly | Annual |
Net Income Ratio Analysis
DREGX | Category Low | Category High | DREGX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.13% | -1.98% | 17.62% | 79.94% |
Capital Gain Distribution Analysis
DREGX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 13, 2023 | $0.627 | OrdinaryDividend |
Dec 14, 2022 | $0.239 | OrdinaryDividend |
Dec 16, 2021 | $6.885 | OrdinaryDividend |
Dec 17, 2020 | $1.218 | OrdinaryDividend |
Dec 19, 2019 | $0.325 | OrdinaryDividend |
Dec 20, 2018 | $1.214 | CapitalGainLongTerm |
Dec 20, 2018 | $0.162 | OrdinaryDividend |
Dec 21, 2017 | $0.234 | OrdinaryDividend |
Dec 20, 2016 | $0.109 | OrdinaryDividend |
Dec 18, 2014 | $0.057 | CapitalGainShortTerm |
Dec 18, 2014 | $0.894 | CapitalGainLongTerm |
Dec 18, 2013 | $0.803 | CapitalGainLongTerm |
Dec 19, 2012 | $0.115 | OrdinaryDividend |
Dec 20, 2011 | $1.598 | CapitalGainShortTerm |
Dec 20, 2011 | $0.068 | CapitalGainLongTerm |
Dec 21, 2010 | $2.028 | CapitalGainShortTerm |
Dec 21, 2010 | $1.126 | CapitalGainLongTerm |
Dec 21, 2010 | $0.695 | OrdinaryDividend |
Dec 17, 2008 | $0.662 | CapitalGainShortTerm |
Dec 17, 2008 | $1.991 | CapitalGainLongTerm |
Dec 19, 2007 | $6.369 | CapitalGainShortTerm |
Dec 19, 2007 | $5.191 | CapitalGainLongTerm |
Dec 21, 2006 | $0.080 | CapitalGainShortTerm |
Dec 21, 2006 | $0.759 | CapitalGainLongTerm |
Dec 14, 2005 | $2.103 | CapitalGainShortTerm |
Dec 14, 2005 | $1.406 | CapitalGainLongTerm |
Dec 14, 2005 | $0.078 | OrdinaryDividend |
Dec 05, 2001 | $0.030 | OrdinaryDividend |
DREGX - Fund Manager Analysis
Managers
Howard Schwab
Start Date
Tenure
Tenure Rank
Aug 01, 2007
14.84
14.8%
Howard Schwab is the lead portfolio manager for the Emerging Markets Growth strategy. In his role as lead portfolio manager, he is responsible for the strategy’s portfolio construction. Mr Schwab joined Driehaus Capital Management in 2001. He received his B.A. in Economics from Denison University in 2001.
Chad Cleaver
Start Date
Tenure
Tenure Rank
May 01, 2008
14.09
14.1%
Chad Cleaver, CFA, is the Portfolio Manager for the Emerging Markets Small Cap Growth and Frontier Markets strategies and a portfolio manager for the Emerging Markets strategy. In his role, he has responsibility for the strategy's portfolio construction, risk management and buy/ sell decisions. In his role as portfolio manager, he is responsible for idea generation, portfolio construction, security selection and investment research. He began his career with the Board of Governors of the Federal Reserve System. He joined Driehaus in 2004 as an investment analyst prior to assuming assistant portfolio management responsibilities on May 1, 2008. Mr. Cleaver received his A.B. in Economics in 2000 from Wabash College. He earned his M.B.A. degree in 2004 from the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill. Mr. Cleaver is a CFA charterholder.
Richard Thies
Start Date
Tenure
Tenure Rank
May 01, 2014
8.09
8.1%
Richard Thies began his career at the International Finance Corporation of the World Bank Group as a consultant for the gender entrepreneurship markets group in 2005. In 2008, Mr Thies worked for Opportunity International as a proposal writer. He then worked as an associate international economist for The Northern Trust in 2009. He joined Driehaus Capital Management as a macro analyst in 2011. He received his Bachelor of Arts in international studies from Emory University in 2005 and his Master of Arts degree focused on international political economy from the University of Chicago in 2007.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 33.71 | 6.66 | 13.42 |