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Trending ETFs

Name

As of 03/26/2024

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

$17.65

$14.6 M

0.00%

1.54%

Vitals

YTD Return

17.8%

1 yr return

40.3%

3 Yr Avg Return

3.5%

5 Yr Avg Return

N/A

Net Assets

$14.6 M

Holdings in Top 10

22.5%

52 WEEK LOW AND HIGH

$17.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.54%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 191.00%

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$10,000

IRA

$2,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

$17.65

$14.6 M

0.00%

1.54%

DSMDX - Profile

Distributions

  • YTD Total Return 17.8%
  • 3 Yr Annualized Total Return 3.5%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.70%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Driehaus Small/Mid Cap Growth Fund
  • Fund Family Name
    Driehaus
  • Inception Date
    May 01, 2020
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Prakash Vijayan

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 at least 80% of its net assets (plus the amount of borrowings for investment purposes) in the equity securities of U.S. small-capitalized (“small-cap”) and U.S. medium-capitalized (“mid-cap”) companies (together, “Small/Mid cap” companies). For purposes of the Fund, the investment adviser considers a company to be a Small/Mid cap company if it is within the same market capitalization range at the time of investment as those included in the Russell 2500® 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, 2023, approximately 99% of the Russell 2500® Growth Index consisted of companies with a market capitalization of less than $18 billion. Securities of companies whose market capitalization no longer meets this definition after purchase may continue to be held by the Fund. In addition, while the Fund will invest primarily in the equity securities of U.S. Small/Mid cap companies, the Fund may also from time to time invest up to a maximum of 20% of its assets in the equity securities of non-U.S. companies that trade in the U.S. (such as American Depositary Receipts (“ADRs”) or substantially similar instruments that are based on foreign securities) or in securities of companies above the capitalization range of the Russell 2500® Growth Index. The Fund may also invest in companies with limited or no operating histories. The Fund does not employ any industry or sector focus but may from time to time have greater exposure to the securities of issuers within the same industry or sector. The Fund frequently and actively trades its portfolio securities.

Investment decisions for the Fund’s growth style of investing are based on the belief that fundamentally strong companies are more likely to generate superior earnings growth on a sustained basis and are more likely to experience positive earnings revisions. These decisions involve evaluating a company’s competitive position, evaluating industry dynamics, identifying potential growth catalysts and assessing the financial position of the company. The investment decision is also based on the evaluation of relative valuation, macroeconomic and behavioral factors affecting the company and its stock price. The Fund sells holdings for a variety of reasons, including to take profits, changes to the fundamental investment thesis, changes in the risk/reward assessment of the holding, an assessment that the holding is efficiently priced, to make room for more attractive ideas or for other portfolio or risk management considerations.

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DSMDX - Performance

Return Ranking - Trailing

Period DSMDX Return Category Return Low Category Return High Rank in Category (%)
YTD 17.8% -4.7% 27.2% 2.00%
1 Yr 40.3% -5.5% 60.4% 2.00%
3 Yr 3.5%* -23.9% 86.1% 32.40%
5 Yr N/A* -2.4% 101.1% N/A
10 Yr N/A* 0.4% 37.0% N/A

* Annualized

Return Ranking - Calendar

Period DSMDX Return Category Return Low Category Return High Rank in Category (%)
2023 20.7% -27.7% 68.0% 42.44%
2022 -33.8% -85.6% 350.1% 67.95%
2021 9.1% -77.0% 238.3% 21.28%
2020 N/A -44.1% 2474.5% N/A
2019 N/A -50.2% 44.0% N/A

Total Return Ranking - Trailing

Period DSMDX Return Category Return Low Category Return High Rank in Category (%)
YTD 17.8% -4.7% 27.2% 2.00%
1 Yr 40.3% -5.5% 60.4% 2.00%
3 Yr 3.5%* -23.9% 86.1% 32.40%
5 Yr N/A* -2.4% 101.1% N/A
10 Yr N/A* 0.4% 37.0% N/A

* Annualized

Total Return Ranking - Calendar

Period DSMDX Return Category Return Low Category Return High Rank in Category (%)
2023 20.7% -26.1% 68.0% 48.09%
2022 -31.5% -67.0% 440.7% 66.67%
2021 18.3% -23.5% 342.2% 22.60%
2020 N/A 2.6% 2549.1% N/A
2019 N/A 14.6% 44.8% N/A

NAV & Total Return History


DSMDX - Holdings

Concentration Analysis

DSMDX Category Low Category High DSMDX % Rank
Net Assets 14.6 M 1.94 M 84.5 B 97.46%
Number of Holdings 94 25 3644 27.04%
Net Assets in Top 10 3.27 M 319 K 8.39 B 98.73%
Weighting of Top 10 22.45% 0.4% 99.9% 74.23%

Top 10 Holdings

  1. Northern Inst Fds GOVT PTFL 3.02%
  2. Super Micro Computer Inc. COM USD0.001 2.74%
  3. Axon Enterprise Inc COM USD0.00001 2.44%
  4. Bellring Brands Inc. COMMON STOCK 2.28%
  5. Cameco Corporation COM NPV 2.25%
  6. Saia Inc COM USD0.001 2.03%
  7. Camtek Limited ILS0.01 2.01%
  8. Deckers Outdoor Corporation COM USD0.01 1.92%
  9. MongoDB Inc. COM USD0.001 CL A 1.89%
  10. Builders Firstsource, Inc. COM USD0.01 1.87%

Asset Allocation

Weighting Return Low Return High DSMDX % Rank
Stocks
97.21% 0.92% 101.49% 71.32%
Cash
3.02% 0.00% 99.08% 27.77%
Preferred Stocks
0.00% 0.00% 5.46% 16.15%
Other
0.00% -0.18% 16.96% 34.66%
Convertible Bonds
0.00% 0.00% 0.40% 4.54%
Bonds
0.00% -3.27% 3.68% 10.34%

Stock Sector Breakdown

Weighting Return Low Return High DSMDX % Rank
Industrials
23.02% 0.00% 38.23% 4.90%
Consumer Cyclical
16.63% 0.00% 57.41% 27.95%
Healthcare
15.69% 0.00% 37.06% 71.87%
Technology
15.06% 0.04% 62.17% 92.74%
Financial Services
7.44% 0.00% 43.01% 44.10%
Energy
6.83% 0.00% 62.10% 6.72%
Basic Materials
6.22% 0.00% 17.25% 6.72%
Communication Services
4.79% 0.00% 18.33% 19.06%
Real Estate
2.19% 0.00% 19.28% 51.54%
Consumer Defense
2.14% 0.00% 16.40% 52.81%
Utilities
0.00% 0.00% 12.94% 28.68%

Stock Geographic Breakdown

Weighting Return Low Return High DSMDX % Rank
US
97.21% 0.64% 101.49% 58.98%
Non US
0.00% 0.00% 34.81% 28.31%

DSMDX - Expenses

Operational Fees

DSMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.54% 0.02% 17.54% 23.54%
Management Fee 0.60% 0.00% 1.50% 17.64%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.40% N/A

Sales Fees

DSMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

DSMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 9.09%

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.

DSMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 191.00% 0.00% 250.31% 98.79%

DSMDX - Distributions

Dividend Yield Analysis

DSMDX Category Low Category High DSMDX % Rank
Dividend Yield 0.00% 0.00% 32.71% 21.42%

Dividend Distribution Analysis

DSMDX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual SemiAnnual SemiAnnual

Net Income Ratio Analysis

DSMDX Category Low Category High DSMDX % Rank
Net Income Ratio -0.70% -2.24% 2.75% 58.20%

Capital Gain Distribution Analysis

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

Distributions History

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DSMDX - Fund Manager Analysis

Managers

Prakash Vijayan


Start Date

Tenure

Tenure Rank

May 01, 2020

2.08

2.1%

Prakash Vijayan began his career as an equity research analyst for Beekman Capital Management in 2005, covering the technology, media and telecommunications sectors, prior to joining Driehaus Capital Management in 2010. He received his Bachelor of Technology degree in mechanical engineering from Indian Institute of Technology in 2003 and a Master of Science in mechanical engineering from Arizona State University in 2005. Mr Vijayan is a CFA charterholder.

Jeffrey James


Start Date

Tenure

Tenure Rank

May 01, 2020

2.08

2.1%

Jeffrey James began his career with Lehman Brothers in 1990. From 1991 to 1997, he worked at the Federal Reserve Bank of Chicago as an analyst and joined Driehaus Capital Management in 1997 as a sector analyst. In 1998, he began managing the Driehaus Micro Cap Growth strategy. In 2006, he began managing the Driehaus Small Cap Growth strategy. In 2012, he began managing the Driehaus Small/Mid Cap Growth strategy. Mr James received his B.S. in Finance from Indiana University in 1990 and his MBA from DePaul University in 1995.

Michael Buck


Start Date

Tenure

Tenure Rank

May 01, 2020

2.08

2.1%

Michael Buck is a portfolio manager and a senior analyst on the US Growth Equities Team with a focus on the consumer discretionary, consumer staples and financials sectors. His indepth fundamental research, idea generation and buy/sell recommendations are leveraged across the Micro Cap Growth, Small Cap Growth and Small/Mid Cap Growth strategies. Mr Buck began his career at Deloitte Consulting , LLC in 2001 as a business analyst until he joined Driehaus Capital Management in 2002. He received his B.A. and B.M. in economics and cello performance from Northwestern University in 2000.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 36.3 9.23 2.25