Wavelength Fund (WAVLX) belongs to the Nontraditional Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with WAVLX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to WAVLX
WAVLX charges 0.99% annually. There are 37 mutual funds in the Nontraditional Bonds category with lower expense ratios, going as low as 0.47%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| GMO Opportunistic Income Fund | 0.47% | — | Oct 2011 | WAVLX vs GMODX | |
| Putnam Mortgage Opportunities Fund | 0.47% | — | Apr 2015 | WAVLX vs PMOTX | |
| Carillon Reams Unconstrained Bond Fund | 0.50% | — | Sep 2011 | WAVLX vs SUBFX | |
| PIMCO Strategic Bond Fund | 0.51% | — | Jan 2009 | WAVLX vs PUTIX | |
| FPA Flexible Fixed Income Fund | 0.51% | — | Dec 2018 | WAVLX vs FPFIX |
Best Risk-Adjusted Alternatives to WAVLX
WAVLX has a PortfoliosLab risk / return rank of 63. There are 37 mutual funds in the Nontraditional Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Cliffwater Enhanced Lending Fund | 100 | — | Jul 2021 | WAVLX vs CELFX | |
| Victory Pioneer Cat Bond Fund Class Y | 100 | — | Jan 2023 | WAVLX vs CBYYX | |
| PGIM Securitized Credit Fund | 100 | — | Jun 2019 | WAVLX vs SCFZX | |
| Eaton Vance Global Macro Absolute Return Fund | 99 | — | Jun 2007 | WAVLX vs EIGMX | |
| Artisan Global Unconstrained Fund | 99 | — | Mar 2022 | WAVLX vs APFPX |
Top Performing WAVLX Alternatives (YTD)
WAVLX is at 1.96% YTD. There are 16 mutual funds in the Nontraditional Bonds category with higher YTD returns, going as high as 8.64%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Eaton Vance Global Macro Absolute Return Advantage... | 8.64% | — | Aug 2010 | WAVLX vs EGRIX | |
| Putnam Mortgage Opportunities Fund | 5.66% | — | Apr 2015 | WAVLX vs PMOTX | |
| Eaton Vance Global Macro Absolute Return Fund | 5.42% | — | Jun 2007 | WAVLX vs EIGMX | |
| Artisan Global Unconstrained Fund | 5.21% | — | Mar 2022 | WAVLX vs APFPX | |
| Cliffwater Enhanced Lending Fund | 4.46% | — | Jul 2021 | WAVLX vs CELFX |
Lowest Volatility Alternatives to WAVLX
WAVLX has 4.36% 1-year volatility. There are 65 mutual funds in the Nontraditional Bonds category with lower 1-year volatility, going as low as 0.85%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Cliffwater Enhanced Lending Fund | 0.85% | — | Jul 2021 | WAVLX vs CELFX | |
| Dunham Long/Short Credit Fund | 1.00% | — | Dec 2004 | WAVLX vs DCAIX | |
| Victory Pioneer Cat Bond Fund Class Y | 1.20% | — | Jan 2023 | WAVLX vs CBYYX | |
| GMO Opportunistic Income Fund | 1.32% | — | Oct 2011 | WAVLX vs GMODX | |
| BlackRock Global Long/Short Credit Fund | 1.36% | — | Sep 2011 | WAVLX vs BGCIX |
Lowest Drawdown Alternatives to WAVLX
WAVLX has a 1-year max drawdown of -3.03%. There are 59 mutual funds in the Nontraditional Bonds category with shallower 1-year drawdowns, going as shallow as -0.09%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Victory Pioneer Cat Bond Fund Class Y | -0.09% | — | Jan 2023 | WAVLX vs CBYYX | |
| Cliffwater Enhanced Lending Fund | -0.18% | — | Jul 2021 | WAVLX vs CELFX | |
| PGIM Securitized Credit Fund | -0.31% | — | Jun 2019 | WAVLX vs SCFZX | |
| Dunham Long/Short Credit Fund | -0.37% | — | Dec 2004 | WAVLX vs DCAIX | |
| GMO Opportunistic Income Fund | -0.65% | — | Oct 2011 | WAVLX vs GMODX |
Often Compared With WAVLX
Investors most often compare WAVLX with PFIX, RISR, TUIFX. These 20 comparison targets span 3 categories, based on PortfoliosLab usage data.
Compare WAVLX with Any Fund or Stock
Compare WAVLX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair WAVLX with funds that move differently
Wavelength Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to WAVLX.
Explore WAVLX Diversifiers