Driehaus Active Income
Name
As of 11/06/2020Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-7.9%
1 yr return
-2.3%
3 Yr Avg Return
0.4%
5 Yr Avg Return
1.0%
Net Assets
$42.4 M
Holdings in Top 10
66.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.40%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 84.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$25,000
IRA
$2,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/06/2020Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
LCMAX - Profile
Distributions
- YTD Total Return -7.9%
- 3 Yr Annualized Total Return 0.4%
- 5 Yr Annualized Total Return 1.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.55%
- Dividend Yield 5.3%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameDriehaus Active Income Fund
-
Fund Family NameDriehaus
-
Inception DateNov 08, 2005
-
Shares OutstandingN/A
-
Share ClassNo Load
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerYoav Sharon
Fund Description
LCMAX - Performance
Return Ranking - Trailing
| Period | LCMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -7.9% | -8.4% | 8.7% | 97.83% |
| 1 Yr | -2.3% | -5.3% | 9.6% | 89.36% |
| 3 Yr | 0.4%* | -1.5% | 6.0% | 90.91% |
| 5 Yr | 1.0%* | 1.0% | 5.4% | 97.56% |
| 10 Yr | 1.2%* | 1.2% | 5.8% | 100.00% |
* Annualized
Return Ranking - Calendar
| Period | LCMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 0.1% | -2.9% | 18.1% | 95.65% |
| 2022 | -5.5% | -17.9% | 3.4% | 65.00% |
| 2021 | -3.1% | -3.1% | 9.3% | 100.00% |
| 2020 | 2.3% | -2.1% | 5.5% | 67.86% |
| 2019 | -4.5% | -10.8% | -3.0% | 45.45% |
Total Return Ranking - Trailing
| Period | LCMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -7.9% | -7.9% | 8.7% | 100.00% |
| 1 Yr | -2.3% | -8.5% | 9.6% | 78.72% |
| 3 Yr | 0.4%* | -3.4% | 6.0% | 84.09% |
| 5 Yr | 1.0%* | 0.9% | 5.4% | 95.12% |
| 10 Yr | 1.2%* | 1.2% | 5.8% | 100.00% |
* Annualized
Total Return Ranking - Calendar
| Period | LCMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 0.1% | -2.9% | 18.1% | 95.65% |
| 2022 | -1.3% | -17.9% | 5.2% | 25.00% |
| 2021 | 0.6% | -1.5% | 11.5% | 70.97% |
| 2020 | 5.6% | 0.1% | 8.3% | 28.57% |
| 2019 | -1.1% | -8.1% | -1.0% | 9.09% |
NAV & Total Return History
LCMAX - Holdings
Concentration Analysis
| LCMAX | Category Low | Category High | LCMAX % Rank | |
|---|---|---|---|---|
| Net Assets | 42.4 M | 7.99 M | 1.63 B | 80.85% |
| Number of Holdings | 46 | 3 | 1205 | 91.49% |
| Net Assets in Top 10 | 48.7 M | 3.63 M | 282 M | 36.17% |
| Weighting of Top 10 | 66.28% | 16.1% | 99.9% | 17.39% |
Top 10 Holdings
- Northern Institutional Treasury Premier 43.66%
- USB Realty Corp 1.42% 3.71%
- Fortress Transportation and Infrastructure Investors LLC 6.75% 3.47%
- Consolidated Communications, Inc. 6.5% 3.21%
- LARCHMONT TR A 8/7/20 3.03%
- LARCHMONT TR A 8/7/20 3.03%
- LARCHMONT TR A 8/7/20 3.03%
- LARCHMONT TR A 8/7/20 3.03%
- LARCHMONT TR A 8/7/20 3.03%
- LARCHMONT TR A 8/7/20 3.03%
Asset Allocation
| Weighting | Return Low | Return High | LCMAX % Rank | |
|---|---|---|---|---|
| Cash | 55.46% | -39.40% | 68.99% | 12.77% |
| Bonds | 41.23% | 0.00% | 135.33% | 95.74% |
| Preferred Stocks | 1.83% | 0.00% | 5.22% | 29.79% |
| Stocks | 1.47% | -8.55% | 38.51% | 21.28% |
| Other | 0.00% | -10.67% | 27.94% | 40.43% |
| Convertible Bonds | 0.00% | 0.00% | 17.84% | 95.74% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | LCMAX % Rank | |
|---|---|---|---|---|
| Financial Services | 92.01% | 0.00% | 98.13% | 8.33% |
| Communication Services | 7.99% | 0.00% | 100.00% | 38.89% |
| Utilities | 0.00% | 0.00% | 49.76% | 50.00% |
| Technology | 0.00% | 0.00% | 20.42% | 33.33% |
| Real Estate | 0.00% | 0.00% | 7.34% | 41.67% |
| Industrials | 0.00% | 0.00% | 20.00% | 47.22% |
| Healthcare | 0.00% | 0.00% | 30.69% | 50.00% |
| Energy | 0.00% | 0.00% | 100.00% | 61.11% |
| Consumer Defense | 0.00% | 0.00% | 99.87% | 25.00% |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | 52.78% |
| Basic Materials | 0.00% | 0.00% | 6.57% | 27.78% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | LCMAX % Rank | |
|---|---|---|---|---|
| US | 1.47% | -7.72% | 38.51% | 12.77% |
| Non US | 0.00% | -0.83% | 6.36% | 46.81% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | LCMAX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 54.59% | 0.40% | 100.00% | 12.77% |
| Corporate | 45.41% | 0.00% | 88.29% | 59.57% |
| Derivative | 0.00% | 0.00% | 36.76% | 61.70% |
| Securitized | 0.00% | 0.00% | 49.21% | 53.19% |
| Municipal | 0.00% | 0.00% | 42.60% | 38.30% |
| Government | 0.00% | 0.00% | 9.97% | 78.72% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | LCMAX % Rank | |
|---|---|---|---|---|
| US | 39.10% | 0.00% | 135.57% | 80.85% |
| Non US | 2.13% | -20.20% | 36.99% | 89.36% |
LCMAX - Expenses
Operational Fees
| LCMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.40% | 0.90% | 5.63% | 84.78% |
| Management Fee | 0.55% | 0.50% | 1.70% | 4.26% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.04% | 0.45% | 39.46% |
Sales Fees
| LCMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.25% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| LCMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | N/A |
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.
| LCMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 84.00% | 0.00% | 426.00% | 11.11% |
LCMAX - Distributions
Dividend Yield Analysis
| LCMAX | Category Low | Category High | LCMAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.29% | 0.00% | 7.98% | 10.64% |
Dividend Distribution Analysis
| LCMAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annually | Monthly | Annually |
Net Income Ratio Analysis
| LCMAX | Category Low | Category High | LCMAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.55% | -0.06% | 8.02% | 4.35% |
Capital Gain Distribution Analysis
| LCMAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 28, 2019 | $0.205 | |
| Dec 21, 2018 | $0.051 | |
| Sep 20, 2018 | $0.086 | |
| Jun 21, 2018 | $0.149 | |
| Mar 28, 2018 | $0.140 | |
| Dec 21, 2017 | $0.059 | |
| Sep 27, 2017 | $0.098 | |
| Jun 22, 2017 | $0.069 | |
| Mar 23, 2017 | $0.150 | |
| Dec 20, 2016 | $0.022 | |
| Sep 22, 2016 | $0.072 | |
| Jun 23, 2016 | $0.106 | |
| Mar 24, 2016 | $0.118 | |
| Dec 17, 2015 | $0.061 | |
| Sep 24, 2015 | $0.093 | |
| Jun 25, 2015 | $0.094 | |
| Mar 26, 2015 | $0.116 | |
| Dec 18, 2014 | $0.058 | |
| Sep 25, 2014 | $0.076 | |
| Jun 26, 2014 | $0.058 | |
| Mar 27, 2014 | $0.067 | |
| Dec 19, 2013 | $0.052 | |
| Sep 19, 2013 | $0.049 | |
| Jun 20, 2013 | $0.074 | |
| Mar 21, 2013 | $0.040 | |
| Dec 19, 2012 | $0.055 | |
| Sep 20, 2012 | $0.012 | |
| Jun 20, 2012 | $0.121 | |
| Mar 21, 2012 | $0.080 | |
| Dec 20, 2011 | $0.124 | |
| Sep 21, 2011 | $0.147 | |
| Jun 22, 2011 | $0.092 | |
| Mar 23, 2011 | $0.066 | |
| Dec 31, 2009 | $1.658 |
LCMAX - Fund Manager Analysis
Managers
Yoav Sharon
Start Date
Tenure
Tenure Rank
Aug 03, 2018
2.25
2.3%
Mr. Sharon earned his B.A. from Northwestern in 2003 and M.B.A. in finance, international business, and management and strategy from the Kellogg Graduate School of Management at Northwestern University in 2010. Yoav Sharon has been an Assistant Portfolio Manager for the Driehaus Event Driven strategy since 2015. Mr. Sharon also serves as the firm’s Senior Options Analyst, a role he has held since joining Driehaus in 2012. Prior to joining Driehaus, Mr. Sharon worked at Peak6 Investments, LLC as a Senior Analyst and trader from 2010 to 2012. From 2005 to 2008, Mr. Sharon served as a Managing Member of a firm he helped found, Raya Trading LLC. From 2002 to 2004, Mr. Sharon held positions of increasing responsibility at STR Trading Partners LLC, leaving that firm with a title of Senior Trader
Thomas McCauley
Start Date
Tenure
Tenure Rank
Aug 03, 2018
2.25
2.3%
Mr. McCauley received his B.S. in Finance and Accounting from Tulane University in 2004 and an M.B.A. from the University of Chicago in 2011. He is a CFA® charterholder. From 2004 through 2006, Mr. McCauley was an Analyst focused on corporate debt underwriting and merger and acquisition advisory at ABN AMRO bank. From 2006 through 2009, Mr. McCauley was an Associate with Merit Capital Partners, a private equity investment firm. From 2011 through 2013, Mr. McCauley was an Investment Analyst with Chicago Fundamental Investment Partners, a hedge fund focused on investing across the capital structure in stressed and distressed opportunities. In 2013, he joined Driehaus as a Senior Analyst.
John Khym
Start Date
Tenure
Tenure Rank
Aug 03, 2018
2.25
2.3%
Mr. Khym received a B.B.A. from the University of Notre Dame in 2001 and is a CFA charterholder. Prior to joining Driehaus in 2014, Mr. Khym was a Vice President with Neuberger Berman, where he focused on distressed debt investing in the U.S. and Europe. From 2006 through 2011, Mr. Khym was an Investment Analyst with Chicago Fundamental Investment Partners, a hedge fund focused on long/short high yield credit investing. Earlier in his career, Mr. Khym was an Associate with Madison Capital Funding, a provider of middle market leveraged loans, and an Associate within Huron Consulting Group / Arthur Andersen’s corporate restructuring practices.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.51 | 9.18 | 4.24 | 4.43 |