Fund Evaluator:
Driehaus Global Fund (DMAGX)
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Best Performing in Global Large-Stock Growth Over the Last Year
| 28.7% | Fidelity Advisor Climate Action Z (FCLZX) |
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| 23.1% | Fidelity Advisor Worldwide Z (FIQOX) |
| 23.0% | Fidelity Worldwide (FWWFX) |
Fund Details
Driehaus Global Fund Overview
Driehaus Global Fund (DMAGX) is an actively managed International Equity Global Large-Stock Growth fund. Driehaus launched the fund in 2017.
The investment seeks to maximize capital appreciation. The fund manager using a growth style of investment, opportunistically invests in equity securities, including common stocks and sponsored or unsponsored American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”) or Global Depositary Receipts (“GDRs”), of issuers located throughout the world, including the United States (U.S.), and in both developed and emerging markets. Equity securities include common and preferred stocks, ADRs, GDRs, EDRs, equity-convertible securities such as warrants, rights, or options, and other classes of stock that may exist.
About Driehaus Global Fund (DMAGX)
There are 2 members of the management team with an average tenure of 6.29 years: Richard Thies (2017), Thomas Ansen-Wilson (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI ACWI NR USD index with a weighting of 100%. Driehaus Global Fund has 108 securities in its portfolio. The top 10 holdings constitute 26.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Driehaus Global Fund is part of the Equity global asset class and is within the International Equity fund group. Driehaus Global Fund has 40.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 56.8%. There is 40.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Driehaus Global Fund has 3.3% of the portfolio in cash.
Assets Under Management
The fund has $85 million in total assets, which is below the $988 million average for the Global Large-Stock Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DMAGX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Driehaus Global Fund expense ratio is above average compared to funds in the Global Large-Stock Growth category. Driehaus Global Fund has an expense ratio of 0.76%, which is 32% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Driehaus Global Fund has a portfolio turnover rate of 119%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 47% for the Global Large-Stock Growth category.
Recently, in the month of July 2026, Driehaus Global Fund returned -4.8%, which earned it a grade of D, as the Global Large-Stock Growth category had an average return of -2.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Driehaus Global Fund has a trailing yield of 0.65%, which is above the 0.27% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Driehaus Global Fund Grades
Year to date, the fund has returned 14.4%, 8.4 percentage points better than the category, which translates into a grade of A. The fund has returned 22.3% over the past year (grade of A), 22.5% over the past three years (grade of A) and 11.1% per year over the past five years (grade of A).
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DMAGX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DMAGX Return (NAV) | -4.8% | 2.4% | 22.3% | 22.5% | 11.1% | na |
| DMAGX Grade | D | D | A | A | A | na |
| +/- Category | -2.4% | -0.4% | 10.7% | 7.9% | 4.9% | na |
| Global Large-Stock Growth Avg | -2.4% | 2.8% | 11.6% | 14.6% | 6.2% | 12.1% |
| DMAGX Tax Cost Ratio | na | na | 3.8% | 2.3% | 1.9% | na |
DMAGX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DMAGX Return (NAV) | 14.4% | 22.6% | 26.5% | 19.5% | -18.9% | -0.6% | 30.2% | 21.6% | -13.2% | na | na |
| DMAGX Grade | A | A | A | D | A | F | C | F | F | na | na |
| +/- Category | 8.4% | 6.3% | 8.9% | -5.9% | 7.9% | -15.4% | -2.9% | -9.1% | -6.1% | na | na |
| Global Large-Stock Growth Avg | 6.0% | 16.3% | 17.6% | 25.4% | -26.8% | 14.8% | 33.0% | 30.7% | -7.1% | 30.9% | 1.5% |
| Risk Measures | |
| Standard Deviation: | 14.3% |
| Total Risk Index: | 1.17 - Above Average |
| Category Risk Index: | 0.93 - Average |
| Category Risk Grade: | C (45% Rank) |
| Beta: | 1.06 |
| R-Squared: | 87% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.7% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $85 Mil |
| Fund Total Assets: | $ 86 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 119% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 9.3 years | |||
| Average Tenure: 6.3 years | |||
| Managers (Year): Thies Richard (2017), Ansen-Wilson Thomas (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 108 |
| % in Top 10 Holdings: | 26.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 40.0% |
Portfolio Allocation |
|
| Domestic Stock: | 56.8% |
| Foreign Stock: | 40.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.3% |
Purchase Information
| Fund Family: | Driehaus |
| Phone Number: | 800-560-6111 |
| Website: | www.driehaus.com |
| Status: | Open |
| Inception Date: | April 7, 2017 |
| Min. Initial Purchase: | $10,000 |
| Min. Initial IRA Purchase: | $2,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.76% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.12% |
| Share Class: | Driehaus Global Fund |
| Min. Subsequent Purchase: | $2,000 |
| Min. Subsequent IRA Purchase: | $ 500 |
