DRIOX Fees and Costs — Driehaus International Small Cap Growth Fund
Data updated: 2026-08-26
The net expense ratio is 1.14%: a 1.00% management fee plus 0.13% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $472K in broker commissions, 0.1606% of average net assets, and portfolio turnover was 311%.
DRIOX Fees and Expenses
Annual operating expenses and sales charges of DRIOX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | 0.13% |
| Gross expense ratio | 1.14% |
| Fee waiver | — |
| Net expense ratio | 1.14% |
| 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 |
DRIOX Costs Over Time
On $10,000 invested in DRIOX, assuming 5% a year before costs, total costs come to $809 over 5 years, cutting the return by 1.37% 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 1.14%) | $120 | $372 | $644 |
| Trading costs (broker commissions) | $17 | $52 | $91 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $137 | $446 | $809 |
| Value after costs | $10,363 | $11,130 | $11,954 |
| Impact on return, per year | 1.37% | 1.37% | 1.37% |
DRIOX 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): 0.1606%
- Total broker commissions: $472K
- Bought from dealers (principal trades, not a cost): $311.7M
- Portfolio turnover (prospectus): 311%
- Securities lending: none during the year
DRIOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Cabrera Capital Markets LLC | $73K | 23.74% |
| JEFFERIES LLC. | $37K | 11.99% |
| LIQUIDNET, INC. | $36K | 11.51% |
| RBC CAPITAL MARKETS, LLC | $32K | 10.21% |
| UBS SECURITIES LLC | $29K | 9.32% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $27K | 8.77% |
| J.P. Morgan Securities LLC | $21K | 6.93% |
| Kepler Capital Markets, Inc. | $20K | 6.43% |
| MORGAN STANLEY & CO. LLC | $18K | 5.88% |
| BERENBERG CAPITAL MARKETS LLC | $16K | 5.22% |
DRIOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $311.3M | 99.88% |
| GOLDMAN SACHS & CO. LLC | $372K | 0.12% |
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.