Driehaus Small Cap Growth Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
18.7%
1 yr return
40.2%
3 Yr Avg Return
1.3%
5 Yr Avg Return
15.8%
Net Assets
$561 M
Holdings in Top 10
20.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.00%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 149.00%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$10,000
IRA
$2,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DVSMX - Profile
Distributions
- YTD Total Return 18.7%
- 3 Yr Annualized Total Return 1.3%
- 5 Yr Annualized Total Return 15.8%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.97%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameDriehaus Small Cap Growth Fund
-
Fund Family NameDriehaus
-
Inception DateAug 21, 2017
-
Shares OutstandingN/A
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJeffrey James
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-capitalization (“small-cap”) companies. For purposes of the Fund, the investment adviser considers a company to be a small cap company if it is within the same market capitalization range at the time of investment as those included in the Russell 2000® 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 2000® Growth Index consisted of companies with a market capitalization of less than $8 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-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 2000® Growth Index. 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 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 decision is also informed by 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.
DVSMX - Performance
Return Ranking - Trailing
Period | DVSMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 18.7% | -2.7% | 19.7% | 1.92% |
1 Yr | 40.2% | -0.7% | 53.5% | 1.75% |
3 Yr | 1.3%* | -21.1% | 62.1% | 19.89% |
5 Yr | 15.8%* | -3.0% | 46.3% | 3.05% |
10 Yr | N/A* | 1.5% | 24.5% | N/A |
* Annualized
Return Ranking - Calendar
Period | DVSMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 18.4% | -20.5% | 54.6% | 23.78% |
2022 | -35.4% | -82.1% | 32.2% | 74.11% |
2021 | 0.6% | -90.6% | 300.1% | 29.34% |
2020 | 53.7% | -63.0% | 127.9% | 11.11% |
2019 | 31.8% | -7.7% | 42.9% | 9.54% |
Total Return Ranking - Trailing
Period | DVSMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 18.7% | -2.7% | 19.7% | 1.92% |
1 Yr | 40.2% | -0.7% | 53.5% | 1.75% |
3 Yr | 1.3%* | -21.1% | 62.1% | 19.89% |
5 Yr | 15.8%* | -3.0% | 46.3% | 3.05% |
10 Yr | N/A* | 1.5% | 24.5% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | DVSMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 18.9% | -19.0% | 136.8% | 28.50% |
2022 | -34.1% | -59.9% | 44.3% | 79.43% |
2021 | 19.6% | -22.7% | 411.9% | 14.85% |
2020 | 63.8% | 1.5% | 150.8% | 11.48% |
2019 | 40.2% | 5.5% | 55.3% | 5.92% |
NAV & Total Return History
DVSMX - Holdings
Concentration Analysis
DVSMX | Category Low | Category High | DVSMX % Rank | |
---|---|---|---|---|
Net Assets | 561 M | 183 K | 28.5 B | 52.33% |
Number of Holdings | 104 | 7 | 1188 | 39.55% |
Net Assets in Top 10 | 115 M | 57.4 K | 2.83 B | 50.09% |
Weighting of Top 10 | 20.56% | 7.1% | 100.1% | 66.09% |
Top 10 Holdings
- Super Micro Computer Inc. COM USD0.001 2.87%
- Bellring Brands Inc. COMMON STOCK 2.26%
- Xenon Pharmaceuticals Inc COM NPV 2.06%
- Onto Innovation Inc. COM 2.05%
- Camtek Limited ILS0.01 2.03%
- Saia Inc COM USD0.001 2.00%
- Cameco Corporation COM NPV 1.95%
- Monday.Com Limited SHS 1.88%
- Vaxcyte Inc COM 1.78%
- Axon Enterprise Inc COM USD0.00001 1.67%
Asset Allocation
Weighting | Return Low | Return High | DVSMX % Rank | |
---|---|---|---|---|
Stocks | 98.53% | 77.88% | 108.99% | 38.86% |
Cash | 1.47% | 0.00% | 27.66% | 60.10% |
Preferred Stocks | 0.00% | 0.00% | 4.08% | 57.86% |
Other | 0.00% | -0.22% | 5.89% | 65.28% |
Convertible Bonds | 0.00% | 0.00% | 1.57% | 53.37% |
Bonds | 0.00% | 0.00% | 3.22% | 51.99% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DVSMX % Rank | |
---|---|---|---|---|
Industrials | 22.88% | 0.00% | 36.64% | 9.50% |
Healthcare | 22.38% | 0.00% | 47.90% | 52.85% |
Consumer Cyclical | 10.78% | 0.00% | 24.04% | 65.80% |
Technology | 10.23% | 2.91% | 75.51% | 97.75% |
Energy | 10.13% | 0.00% | 55.49% | 4.15% |
Consumer Defense | 7.96% | 0.00% | 13.56% | 7.25% |
Basic Materials | 6.44% | 0.00% | 9.24% | 2.94% |
Communication Services | 3.68% | 0.00% | 15.31% | 23.83% |
Financial Services | 3.16% | 0.00% | 42.95% | 86.36% |
Real Estate | 2.38% | 0.00% | 15.31% | 44.04% |
Utilities | 0.00% | 0.00% | 5.57% | 65.98% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DVSMX % Rank | |
---|---|---|---|---|
US | 98.53% | 30.27% | 102.09% | 35.41% |
Non US | 0.00% | 0.00% | 61.74% | 62.52% |
DVSMX - Expenses
Operational Fees
DVSMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.00% | 0.05% | 23.20% | 72.32% |
Management Fee | 0.60% | 0.05% | 1.62% | 9.52% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.40% | 29.79% |
Sales Fees
DVSMX 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
DVSMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 1.00% | 2.00% | 33.33% |
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.
DVSMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 149.00% | 3.00% | 439.00% | 94.05% |
DVSMX - Distributions
Dividend Yield Analysis
DVSMX | Category Low | Category High | DVSMX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 7.17% | 14.16% |
Dividend Distribution Analysis
DVSMX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | SemiAnnual | Annual |
Net Income Ratio Analysis
DVSMX | Category Low | Category High | DVSMX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.97% | -2.47% | 1.10% | 71.10% |
Capital Gain Distribution Analysis
DVSMX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Monthly | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 13, 2023 | $0.069 | OrdinaryDividend |
Dec 20, 2019 | $0.974 | OrdinaryDividend |
DVSMX - Fund Manager Analysis
Managers
Jeffrey James
Start Date
Tenure
Tenure Rank
Aug 21, 2017
4.78
4.8%
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
Aug 21, 2017
4.78
4.8%
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.
Prakash Vijayan
Start Date
Tenure
Tenure Rank
Jan 15, 2020
2.38
2.4%
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.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 30.44 | 9.04 | 5.25 |