Wavelength Interest Rate Neutral 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 | |
| FPA Flexible Fixed Income Fund | 0.51% | — | Dec 2018 | WAVLX vs FPFIX | |
| PIMCO Strategic Bond Fund | 0.51% | — | Jan 2009 | WAVLX vs PUTIX |
Best Risk-Adjusted Alternatives to WAVLX
WAVLX has a PortfoliosLab risk / return rank of 80. There are 19 mutual funds in the Nontraditional Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Victory Pioneer Cat Bond Fund Class Y | 100 | — | Jan 2023 | WAVLX vs CBYYX | |
| PGIM Securitized Credit Fund | 99 | — | 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 | |
| DoubleLine Flexible Income Fund | 98 | — | Apr 2014 | WAVLX vs DFLEX |
Top Performing WAVLX Alternatives (YTD)
WAVLX is at 3.43% YTD. There are 5 mutual funds in the Nontraditional Bonds category with higher YTD returns, going as high as 6.67%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Eaton Vance Global Macro Absolute Return Advantage... | 6.67% | — | Aug 2010 | WAVLX vs EGRIX | |
| Putnam Mortgage Opportunities Fund | 4.69% | — | Apr 2015 | WAVLX vs PMOTX | |
| Anchor Risk Managed Credit Strategies Fund | 4.38% | — | Sep 2015 | WAVLX vs ATCSX | |
| Eaton Vance Global Macro Absolute Return Fund | 4.26% | — | Jun 2007 | WAVLX vs EIGMX | |
| Artisan Global Unconstrained Fund | 4.00% | — | Mar 2022 | WAVLX vs APFPX |
Lowest Volatility Alternatives to WAVLX
WAVLX has 4.23% 1-year volatility. There are 64 mutual funds in the Nontraditional Bonds category with lower 1-year volatility, going as low as 1.01%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Dunham Long/Short Credit Fund | 1.01% | — | Dec 2004 | WAVLX vs DCAIX | |
| Victory Pioneer Cat Bond Fund Class Y | 1.23% | — | Jan 2023 | WAVLX vs CBYYX | |
| DoubleLine Flexible Income Fund | 1.31% | — | Apr 2014 | WAVLX vs DFLEX | |
| GMO Opportunistic Income Fund | 1.35% | — | 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 58 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 | |
| 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 | |
| PGIM Absolute Return Bond Fund | -0.76% | — | Mar 2011 | WAVLX vs PADZX |
Often Compared With WAVLX
Investors most often compare WAVLX with PFIX, RISR, TUIFX. These 20 comparison targets span 2 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 Interest Rate Neutral Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to WAVLX.
Explore WAVLX Diversifiers