DEVDX Fees and Costs — Driehaus Event Driven Fund
Data updated: 2026-03-10
The net expense ratio is 1.43%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $168K in broker commissions, 0.1204% of average net assets, and portfolio turnover was 81%.
DEVDX Fees and Expenses
Annual operating expenses and sales charges of DEVDX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 1.43% |
| Fee waiver | — |
| Net expense ratio | 1.43% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
DEVDX Costs Over Time
On $10,000 invested in DEVDX, assuming 5% a year before costs, total costs come to $959 over 5 years, cutting the return by 1.63% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.43%) | $150 | $466 | $803 |
| Trading costs (broker commissions) | $13 | $39 | $68 |
| Lost growth on money paid in costs | $0 | $25 | $88 |
| Total costs | $163 | $530 | $959 |
| Value after costs | $10,337 | $11,046 | $11,804 |
| Impact on return, per year | 1.63% | 1.63% | 1.63% |
DEVDX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1204%
- Total broker commissions: $168K
- Bought from dealers (principal trades, not a cost): $411.4M
- Portfolio turnover (prospectus): 81%
- Securities lending: none during the year
DEVDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| TD SECURITIES (USA) LLC | $60K | 39.05% |
| RBC CAPITAL MARKETS, LLC | $18K | 11.94% |
| STEPHENS INC. | $17K | 10.80% |
| CANTOR FITZGERALD AND CO. | $14K | 8.99% |
| LIQUIDNET, INC. | $13K | 8.69% |
| BTIG, LLC | $9K | 6.04% |
| PIPER SANDLER & CO. | $9K | 5.89% |
| Guggenheim Securities, LLC | $5K | 3.08% |
| JEFFERIES LLC. | $4K | 2.81% |
| J.V.B. Financial Group, LLC | $4K | 2.71% |
DEVDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $315.5M | 77.82% |
| HILLTOP SECURITIES INC. | $31.6M | 7.79% |
| BTIG, LLC | $17.2M | 4.25% |
| GOLDMAN SACHS & CO. LLC | $9.0M | 2.22% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $7.9M | 1.94% |
| PIPER SANDLER & CO. | $7.8M | 1.92% |
| Oppenheimer & Co. Inc. | $7.1M | 1.75% |
| JEFFERIES LLC. | $3.8M | 0.95% |
| J.V.B. Financial Group, LLC | $2.9M | 0.72% |
| BOFA SECURITIES, INC. | $2.6M | 0.63% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.