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Trending ETFs

Name

As of 11/08/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$22.53

$123 M

0.92%

$0.21

1.37%

Vitals

YTD Return

18.5%

1 yr return

26.4%

3 Yr Avg Return

0.8%

5 Yr Avg Return

11.3%

Net Assets

$123 M

Holdings in Top 10

27.5%

52 WEEK LOW AND HIGH

$22.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.37%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 178.00%

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$10,000

IRA

$2,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 11/08/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$22.53

$123 M

0.92%

$0.21

1.37%

DRESX - Profile

Distributions

  • YTD Total Return 18.5%
  • 3 Yr Annualized Total Return 0.8%
  • 5 Yr Annualized Total Return 11.3%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.28%
DIVIDENDS
  • Dividend Yield 0.9%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Driehaus Emerging Markets Small Cap Growth Fund
  • Fund Family Name
    Driehaus
  • Inception Date
    Aug 22, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Chad Cleaver

Fund Description

The Fund uses a growth style of investment in equity securities, including common stocks and other equity securities of issuers. Under normal market conditions, the Fund invests substantially all (no less than 80%) of its net assets (plus the amount of borrowings for investment purposes) in small capitalization emerging markets companies. For purposes of the Fund, the investment adviser considers a company to be a small capitalization company if it is within the same market capitalization range at the time of investment as those included in the MSCI Emerging Markets Small Cap Index. For the avoidance of doubt, while the reference index is “float-adjusted,” meaning it excludes closely held and other shares unavailable to investors, the investment adviser does not consider a float-adjustment when determining the market capitalization of a company. As of March 31, 2024, approximately 97% of the MSCI Emerging Markets Small Cap Index consisted of companies with a market capitalization of less than $5 billion.

Emerging markets 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. 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. There are also 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 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.

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DRESX - Performance

Return Ranking - Trailing

Period DRESX Return Category Return Low Category Return High Rank in Category (%)
YTD 18.5% -12.1% 34.0% 7.48%
1 Yr 26.4% -6.6% 43.9% 11.00%
3 Yr 0.8%* -14.0% 11.4% 22.55%
5 Yr 11.3%* -4.7% 11.9% 0.65%
10 Yr 5.5%* -2.0% 6.9% 13.28%

* Annualized

Return Ranking - Calendar

Period DRESX Return Category Return Low Category Return High Rank in Category (%)
2023 9.1% -6.5% 35.5% 47.33%
2022 -21.2% -50.1% -2.4% 25.65%
2021 15.9% -33.1% 22.5% 1.38%
2020 32.7% -22.1% 80.1% 12.34%
2019 33.1% -0.7% 42.0% 1.00%

Total Return Ranking - Trailing

Period DRESX Return Category Return Low Category Return High Rank in Category (%)
YTD 18.5% -12.1% 34.0% 7.48%
1 Yr 26.4% -6.6% 43.9% 11.00%
3 Yr 0.8%* -14.0% 11.4% 22.55%
5 Yr 11.3%* -4.7% 11.9% 0.65%
10 Yr 5.5%* -2.0% 6.9% 13.28%

* Annualized

Total Return Ranking - Calendar

Period DRESX Return Category Return Low Category Return High Rank in Category (%)
2023 10.3% -2.7% 42.0% 56.60%
2022 -21.2% -42.2% 1.9% 35.07%
2021 15.9% -32.5% 33.1% 4.60%
2020 33.6% -20.0% 81.6% 13.14%
2019 33.7% 2.3% 42.0% 1.33%

NAV & Total Return History


DRESX - Holdings

Concentration Analysis

DRESX Category Low Category High DRESX % Rank
Net Assets 123 M 682 K 103 B 73.21%
Number of Holdings 84 9 7534 57.78%
Net Assets in Top 10 32.5 M 290 K 23.8 B 75.18%
Weighting of Top 10 27.48% 2.9% 101.1% 78.51%

Top 10 Holdings

  1. Northern Inst Fds GOVT SELECT PT 5.91%
  2. FPT Corp. VND10000 3.79%
  3. HD Hyundai Electric Co Ltd. KRW5000 3.72%
  4. Vista Energy S.A.B. de C.V. SPON ADS EA REP 1 ORD SHS 2.40%
  5. Titagarh Rail Systems Ltd. INR2 2.15%
  6. ASPEED Technology Inc. TWD10 2.14%
  7. Hanwha Aerospace Co Ltd KRW5000 2.13%
  8. Gmr Airports Infrastructure Ltd. INR1 1.76%
  9. Cury Construtora E Incorporadora SA COM NPV 1.74%
  10. Lig Nex1 Co Ltd KRW5000 1.74%

Asset Allocation

Weighting Return Low Return High DRESX % Rank
Stocks
94.25% 0.00% 107.82% 79.94%
Cash
5.91% -2.03% 98.08% 5.89%
Preferred Stocks
0.00% 0.00% 13.31% 62.55%
Other
0.00% -1.11% 26.93% 38.57%
Convertible Bonds
0.00% 0.00% 7.40% 10.03%
Bonds
0.00% 0.00% 88.10% 18.23%

Stock Sector Breakdown

Weighting Return Low Return High DRESX % Rank
Consumer Cyclical
18.70% 0.00% 48.94% 8.81%
Industrials
15.70% 0.00% 43.53% 5.54%
Basic Materials
14.45% 0.00% 30.03% 5.11%
Technology
13.15% 0.00% 47.50% 92.05%
Financial Services
9.78% 0.00% 48.86% 96.31%
Consumer Defense
9.32% 0.00% 25.90% 18.18%
Energy
5.84% 0.00% 24.80% 26.42%
Healthcare
4.73% 0.00% 16.53% 36.08%
Real Estate
4.35% 0.00% 17.15% 9.09%
Utilities
3.20% 0.00% 39.12% 18.04%
Communication Services
0.79% 0.00% 39.29% 99.57%

Stock Geographic Breakdown

Weighting Return Low Return High DRESX % Rank
Non US
84.41% 0.00% 100.18% 55.68%
US
9.84% 0.00% 100.95% 49.23%

DRESX - Expenses

Operational Fees

DRESX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.37% 0.03% 29.98% 46.27%
Management Fee 1.10% 0.00% 2.00% 90.73%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.85% 38.97%

Sales Fees

DRESX 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

DRESX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 5.17%

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.

DRESX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 178.00% 0.00% 189.00% 98.10%

DRESX - Distributions

Dividend Yield Analysis

DRESX Category Low Category High DRESX % Rank
Dividend Yield 0.92% 0.00% 9.74% 74.05%

Dividend Distribution Analysis

DRESX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Monthly Annual

Net Income Ratio Analysis

DRESX Category Low Category High DRESX % Rank
Net Income Ratio 0.28% -1.98% 17.62% 65.50%

Capital Gain Distribution Analysis

DRESX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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DRESX - Fund Manager Analysis

Managers

Chad Cleaver


Start Date

Tenure

Tenure Rank

Aug 22, 2011

10.78

10.8%

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.

Howard Schwab


Start Date

Tenure

Tenure Rank

Aug 22, 2011

10.78

10.8%

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.

Richard Thies


Start Date

Tenure

Tenure Rank

May 01, 2016

6.08

6.1%

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