Driehaus International Small Cap Growth Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
5.9%
1 yr return
17.4%
3 Yr Avg Return
-4.5%
5 Yr Avg Return
6.8%
Net Assets
$228 M
Holdings in Top 10
17.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.17%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 93.00%
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
DRIOX - Profile
Distributions
- YTD Total Return 5.9%
- 3 Yr Annualized Total Return -4.5%
- 5 Yr Annualized Total Return 6.8%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.32%
- Dividend Yield 1.1%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameDriehaus International Small Cap Growth Fund
-
Fund Family NameDriehaus
-
Inception DateSep 18, 2007
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDavid Mouser
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 at least 80% of its net assets (plus the amount of borrowings for investment purposes) in the equity securities of non-U.S. small capitalization companies. The investment adviser considers non-U.S. small capitalization companies to be companies located in the same countries and within the same market capitalization range at the time of investment as those included in the MSCI All Country World ex USA Small Cap Growth 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 95% of the MSCI All Country World ex USA Small Cap Growth Index consisted of companies with a market capitalization of less than $6.5 billion. The Fund seeks to be opportunistic in pursuing companies that meet its criteria regardless of geographic location and, therefore, at certain times, the Fund could have sizeable positions in either developed countries or emerging markets. In addition, while the Fund will invest primarily in the equity securities of non-U.S. companies, the Fund may also from time to time invest up to a maximum of 20% of its assets in the equity securities of U.S. companies. The Fund may invest in companies with limited or no operating histories. The Fund may frequently and actively trade its portfolio securities.
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 amount of the Fund’s assets invested in emerging markets will vary over time and could be substantial. The Fund is not limited to a specific percentage of assets that may be invested in a single emerging market country, although at all times the Fund must be invested in at least three countries (not limited to emerging markets countries).
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 the security is at an attractive entry point. 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 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.
DRIOX - Performance
Return Ranking - Trailing
Period | DRIOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.9% | -11.7% | 16.0% | 24.37% |
1 Yr | 17.4% | -5.4% | 31.9% | 44.54% |
3 Yr | -4.5%* | -24.5% | 3.1% | 17.39% |
5 Yr | 6.8%* | -11.4% | 9.1% | 7.34% |
10 Yr | 7.8%* | -3.6% | 7.7% | 1.30% |
* Annualized
Return Ranking - Calendar
Period | DRIOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.6% | -16.8% | 28.8% | 49.58% |
2022 | -28.6% | -46.4% | -21.4% | 35.65% |
2021 | -12.2% | -30.6% | 16.4% | 91.74% |
2020 | 19.7% | 0.3% | 62.2% | 44.04% |
2019 | 29.4% | 9.7% | 44.0% | 12.26% |
Total Return Ranking - Trailing
Period | DRIOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.9% | -11.7% | 16.0% | 24.37% |
1 Yr | 17.4% | -5.4% | 31.9% | 44.54% |
3 Yr | -4.5%* | -24.5% | 3.1% | 17.39% |
5 Yr | 6.8%* | -11.4% | 9.1% | 7.34% |
10 Yr | 7.8%* | -3.6% | 7.7% | 1.30% |
* Annualized
Total Return Ranking - Calendar
Period | DRIOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.0% | -16.5% | 30.7% | 53.78% |
2022 | -24.4% | -46.4% | -18.5% | 16.52% |
2021 | 12.5% | -30.6% | 24.7% | 43.12% |
2020 | 29.7% | 1.6% | 68.3% | 33.03% |
2019 | 30.4% | 9.7% | 44.0% | 16.04% |
NAV & Total Return History
DRIOX - Holdings
Concentration Analysis
DRIOX | Category Low | Category High | DRIOX % Rank | |
---|---|---|---|---|
Net Assets | 228 M | 25.2 K | 6.45 B | 62.18% |
Number of Holdings | 110 | 36 | 1313 | 47.90% |
Net Assets in Top 10 | 41.2 M | 959 K | 1.04 B | 65.55% |
Weighting of Top 10 | 17.55% | 9.6% | 59.9% | 73.11% |
Top 10 Holdings
- Northern Inst Fds GOVT SELECT PT 2.46%
- Saipem SPA NPV (POST SPLIT) 2.01%
- Indra Sistemas S.A. EUR0.20 SER 'A' 1.73%
- Asics Corp NPV 1.73%
- DO CO AG NPV 1.70%
- Glanbia PLC ORD EUR0.06 1.65%
- DOF Group ASA NOK2.50 1.64%
- Suess Microtec Se NPV 1.58%
- Comet Holdings AG CHF1 (REGD) 1.58%
- Intermediate Capital Group PLC ORD GBP0.2625 1.47%
Asset Allocation
Weighting | Return Low | Return High | DRIOX % Rank | |
---|---|---|---|---|
Stocks | 96.18% | 91.79% | 101.99% | 61.34% |
Cash | 2.74% | 0.00% | 8.60% | 45.38% |
Preferred Stocks | 1.07% | 0.00% | 7.13% | 19.33% |
Other | 0.00% | 0.00% | 5.37% | 46.22% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 36.13% |
Bonds | 0.00% | 0.00% | 2.77% | 37.82% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DRIOX % Rank | |
---|---|---|---|---|
Industrials | 21.08% | 0.00% | 40.13% | 62.18% |
Consumer Cyclical | 16.42% | 1.31% | 28.28% | 4.20% |
Technology | 13.15% | 6.70% | 37.76% | 67.23% |
Healthcare | 10.43% | 1.74% | 29.97% | 61.34% |
Energy | 9.29% | 0.00% | 9.29% | 0.84% |
Basic Materials | 8.38% | 0.00% | 18.70% | 26.89% |
Consumer Defense | 7.91% | 1.61% | 17.90% | 24.37% |
Financial Services | 7.53% | 1.92% | 22.28% | 63.87% |
Communication Services | 3.67% | 1.49% | 23.23% | 75.63% |
Real Estate | 1.82% | 0.00% | 13.00% | 63.87% |
Utilities | 0.32% | 0.00% | 5.12% | 44.54% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DRIOX % Rank | |
---|---|---|---|---|
Non US | 91.02% | 64.54% | 99.31% | 69.75% |
US | 5.17% | 0.00% | 33.08% | 32.77% |
DRIOX - Expenses
Operational Fees
DRIOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.17% | 0.01% | 41.09% | 69.75% |
Management Fee | 1.00% | 0.00% | 1.75% | 66.39% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.05% | 0.26% | 33.33% |
Sales Fees
DRIOX 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% | 4.00% | N/A |
Trading Fees
DRIOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 2.00% | 2.00% | 36.84% |
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.
DRIOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 93.00% | 8.00% | 236.00% | 85.42% |
DRIOX - Distributions
Dividend Yield Analysis
DRIOX | Category Low | Category High | DRIOX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.10% | 0.00% | 5.44% | 45.38% |
Dividend Distribution Analysis
DRIOX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Annual | Annual |
Net Income Ratio Analysis
DRIOX | Category Low | Category High | DRIOX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.32% | -1.81% | 1.51% | 33.33% |
Capital Gain Distribution Analysis
DRIOX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 13, 2023 | $0.101 | OrdinaryDividend |
Dec 14, 2022 | $0.205 | CapitalGainShortTerm |
Dec 14, 2022 | $0.264 | CapitalGainLongTerm |
Dec 16, 2021 | $2.988 | OrdinaryDividend |
Dec 17, 2020 | $1.040 | OrdinaryDividend |
Dec 19, 2019 | $0.014 | OrdinaryDividend |
Dec 19, 2019 | $0.067 | CapitalGainLongTerm |
Dec 20, 2018 | $0.241 | CapitalGainShortTerm |
Dec 20, 2018 | $1.075 | CapitalGainLongTerm |
Dec 21, 2017 | $0.858 | CapitalGainShortTerm |
Dec 21, 2017 | $0.922 | CapitalGainLongTerm |
Dec 20, 2016 | $0.121 | CapitalGainLongTerm |
Dec 17, 2015 | $0.244 | CapitalGainLongTerm |
Dec 17, 2015 | $0.030 | OrdinaryDividend |
Dec 18, 2014 | $0.419 | CapitalGainShortTerm |
Dec 18, 2014 | $0.701 | CapitalGainLongTerm |
Dec 18, 2014 | $0.062 | OrdinaryDividend |
Dec 18, 2013 | $0.603 | CapitalGainShortTerm |
Dec 18, 2013 | $0.610 | CapitalGainLongTerm |
Dec 18, 2013 | $0.127 | OrdinaryDividend |
Dec 19, 2012 | $0.043 | OrdinaryDividend |
Dec 20, 2011 | $0.049 | OrdinaryDividend |
Dec 21, 2010 | $0.064 | OrdinaryDividend |
Dec 17, 2008 | $0.268 | CapitalGainShortTerm |
Dec 17, 2008 | $0.022 | CapitalGainLongTerm |
Dec 17, 2008 | $0.006 | OrdinaryDividend |
Dec 19, 2007 | $0.100 | OrdinaryDividend |
Dec 19, 2007 | $0.572 | CapitalGainShortTerm |
Dec 19, 2007 | $0.033 | CapitalGainLongTerm |
DRIOX - Fund Manager Analysis
Managers
David Mouser
Start Date
Tenure
Tenure Rank
Sep 17, 2007
14.71
14.7%
David Mouser has 16 years of investment experience. Mr Mouser joined Driehaus Capital Management in 1999 as a global research associate and domestic research assistant. He received his B.S. in Finance from the University of Dayton in 1999.
Ryan Carpenter
Start Date
Tenure
Tenure Rank
May 01, 2010
12.09
12.1%
Ryan Carpenter is the portfolio manager for the International Realty strategy. In his role as portfolio manager, he is responsible for the strategy’s portfolio construction and buy/sell decisions. He is also involved in daily tracking of the portfolio performance as well as macro-level trends and the market environment. Mr Carpenter began his career at Driehaus Capital Management as a research intern in 2005. He received his B.A. in Finance from the University of Illinois at Chicago in 2007.
Daniel Burr
Start Date
Tenure
Tenure Rank
May 01, 2014
8.09
8.1%
Daniel Burr joined Driehaus in 2013 as a portfolio manager. He received his B.S. in Applied Economics and Business Management from Cornell University in 2000. He also completed his MBA in 2006 with concentrations in Finance and Accounting from the University of Chicago Booth School of Business.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.17 | 28.52 | 5.76 | 0.17 |