DSMDX Performance — Driehaus Small/Mid Cap Growth Fund
Data updated: 2026-08-26
DSMDX returned +22.96% year to date and +38.48% over one year to Jun 2026. Annualised returns are +21.29% over 3 years and +8.10% over 5 years. The fund beat its US Mid-Cap Growth category average: $100 invested three years ago grew to $178, against $152 for the category, and to $138 over one year, against $118. Volatility over the past three years was 21.19% a year. In the 12 months to Jun 2026 the fund took in a net $25.5M, and assets reached $115.76M.
DSMDX Growth of $100
What $100 invested in Driehaus Small/Mid Cap Growth Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Mid-Cap Growth category average over the same months.
| Period | DSMDX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $138 | $118 |
| 3 years (Jul 2023 – Jun 2026) | $178 | $152 |
| 5 years (Jul 2021 – Jun 2026) | $148 | $129 |
| Since data start (May 2020 – Jun 2026) | $291 | $210 |
DSMDX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +22.96% |
| 1 year | +38.48% |
| 3 years (annualised) | +21.29% |
| 5 years (annualised) | +8.10% |
DSMDX Annual Returns
Calendar-year total returns of Driehaus Small/Mid Cap Growth Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +22.96% |
| 2025 | +9.81% |
| 2024 | +26.44% |
| 2023 | +20.68% |
| 2022 | −31.44% |
| 2021 | +18.31% |
| 2020 (May–Dec) | +74.23% |
DSMDX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +7.4% | +2.4% | −8.3% | +11.7% | +6.9% | +2.1% | — | — | — | — | — | — |
| 2025 | +2.9% | −9.2% | −9.9% | +2.1% | +5.9% | +7.2% | +1.7% | +3.3% | +5.3% | +5.9% | −2.1% | −1.8% |
| 2024 | +3.0% | +11.5% | +2.8% | −5.9% | +6.1% | +0.8% | −1.8% | +1.9% | +3.1% | −0.2% | +13.2% | −8.6% |
| 2023 | +5.8% | −1.2% | +0.1% | −1.6% | +2.1% | +9.9% | +3.4% | −2.9% | −6.0% | −6.4% | +10.0% | +7.6% |
| 2022 | −17.0% | +1.2% | +0.1% | −11.4% | −3.3% | −6.3% | +8.9% | +0.5% | −7.6% | +6.4% | +1.1% | −6.7% |
| 2021 | +4.1% | +6.3% | −4.9% | +5.0% | −2.4% | +5.0% | −0.5% | +4.7% | −2.3% | +7.6% | −4.2% | −0.4% |
| 2020 | — | — | — | — | +16.2% | +4.8% | +8.3% | +4.5% | +2.5% | +1.2% | +13.5% | +7.4% |
DSMDX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 21.19%
- 3-year Sharpe ratio: 0.79 (vs 4.5% risk-free rate)
- Best month: +13.15% (Nov 2024)
- Worst month: −9.93% (Mar 2025)
DSMDX Fund Flows
Monthly money in and out of Driehaus Small/Mid Cap Growth Fund, from SEC Form N-PORT.
- 12-month net flow: $25.5M
- 12-month gross sales (incl. reinvestments): $36.0M
- Sales ÷ redemptions: 3.44×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $1.6M | $473K | $1.1M |
| May 2026 | $893K | $1.4M | −$493K |
| Apr 2026 | $5.3M | $503K | $4.8M |
| Mar 2026 | $1.2M | $858K | $346K |
| Feb 2026 | $1.1M | $861K | $272K |
| Jan 2026 | $1.8M | $1.3M | $456K |
| Dec 2025 | $3.9M | $1.3M | $2.5M |
| Nov 2025 | $1.3M | $511K | $793K |
| Oct 2025 | $16.4M | $935K | $15.5M |
| Sep 2025 | $455K | $875K | −$420K |
| Aug 2025 | $422K | $809K | −$387K |
| Jul 2025 | $1.5M | $590K | $950K |
DSMDX Assets Under Management
Net assets of Driehaus Small/Mid Cap Growth Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $115.76M |
| 2026-03-31 | $90.07M |
| 2025-12-31 | $88.35M |
| 2025-09-30 | $69.05M |
| 2025-06-30 | $62.19M |
| 2025-03-31 | $52.78M |
| 2024-12-31 | $60.77M |
| 2024-09-30 | $56.93M |
| 2024-06-28 | $54.41M |
| 2024-03-28 | $51.84M |
| 2023-12-29 | $14.57M |
| 2023-09-29 | $13.41M |
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.