ABIEX vs. WAEMX

Last updated Jun 5, 2026

ABIEX (AB Emerging Markets Multi-Asset Portfolio) and WAEMX (Wasatch Emerging Markets Small Cap Fund) are both Emerging Markets Diversified funds. Over the past 10 years, ABIEX returned 8.85%/yr vs 8.47%/yr for WAEMX. A 0.73 correlation means they provide meaningful diversification when combined. ABIEX charges 0.99%/yr vs 1.91%/yr for WAEMX.

Performance

ABIEX vs. WAEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Emerging Markets Multi-Asset Portfolio (ABIEX) and Wasatch Emerging Markets Small Cap Fund (WAEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ABIEX having a 24.69% return and WAEMX slightly lower at 24.12%. Both investments have delivered pretty close results over the past 10 years, with ABIEX having a 8.85% annualized return and WAEMX not far behind at 8.47%.

ABIEX

• 1D: -0.57%
• 1M: 5.75%
• YTD: 24.69%
• 6M: 26.69%
• 1Y: 44.70%
• 3Y*: 25.06%
• 5Y*: 8.07%
• 10Y*: 8.85%

WAEMX

• 1D: 0.00%
• 1M: -1.40%
• YTD: 24.12%
• 6M: 28.62%
• 1Y: 34.27%
• 3Y*: 12.28%
• 5Y*: 2.04%
• 10Y*: 8.47%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ABIEX vs. WAEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ABIEX AB Emerging Markets Multi-Asset Portfolio	24.69%	24.71%	14.27%	16.88%	-22.59%	-1.08%	13.83%	18.39%	-13.90%	20.71%
WAEMX Wasatch Emerging Markets Small Cap Fund	24.12%	5.85%	-2.21%	21.20%	-38.76%	30.16%	32.79%	27.45%	-18.97%	38.20%

Correlation

The correlation between ABIEX and WAEMX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Sep 1, 2011	0.73

The correlation between ABIEX and WAEMX has been stable across timeframes, ranging from 0.64 to 0.73 - a consistent structural relationship.

Return for Risk

ABIEX vs. WAEMX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ABIEX

ABIEX Risk / Return Rank: 89
ABIEX Sharpe Ratio Rank: 93
ABIEX Sortino Ratio Rank: 87
ABIEX Omega Ratio Rank: 88
ABIEX Calmar Ratio Rank: 87
ABIEX Martin Ratio Rank: 88

WAEMX

WAEMX Risk / Return Rank: 61
WAEMX Sharpe Ratio Rank: 48
WAEMX Sortino Ratio Rank: 51
WAEMX Omega Ratio Rank: 45
WAEMX Calmar Ratio Rank: 89
WAEMX Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ABIEX vs. WAEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Emerging Markets Multi-Asset Portfolio (ABIEX) and Wasatch Emerging Markets Small Cap Fund (WAEMX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ABIEX	WAEMX	Difference
Sharpe ratio: Return per unit of total volatility	3.19	2.03	+1.16
Sortino ratio: Return per unit of downside risk	4.18	2.98	+1.20
Omega ratio: Gain probability vs. loss probability	1.63	1.36	+0.27
Calmar ratio: Return relative to maximum drawdown	4.12	4.49	-0.37
Martin ratio: Return relative to average drawdown	16.84	13.87	+2.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ABIEX vs. WAEMX - Sharpe Ratio Comparison

The current ABIEX Sharpe Ratio is 3.19, which is higher than the WAEMX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of ABIEX and WAEMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ABIEX	WAEMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.19	2.03	+1.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.12	+0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.47	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.30	+0.14

Drawdowns

ABIEX vs. WAEMX - Drawdown Comparison

The maximum ABIEX drawdown since its inception was -38.56%, smaller than the maximum WAEMX drawdown of -66.35%. Use the drawdown chart below to compare losses from any high point for ABIEX and WAEMX.

Drawdown Indicators

	ABIEX	WAEMX	Difference
Max Drawdown Largest peak-to-trough decline	-38.56%	-66.35%	+27.79%
Max Drawdown (1Y) Largest decline over 1 year	-11.19%	-7.89%	-3.30%
Max Drawdown (3Y) Largest decline over 3 years	-11.99%	-25.56%	+13.57%
Max Drawdown (5Y) Largest decline over 5 years	-37.47%	-44.88%	+7.41%
Max Drawdown (10Y) Largest decline over 10 years	-38.56%	-44.88%	+6.32%
Current Drawdown Current decline from peak	-0.57%	-8.18%	+7.61%
Average Drawdown Average peak-to-trough decline	-10.04%	-16.81%	+6.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	2.55%	+0.18%

Volatility

ABIEX vs. WAEMX - Volatility Comparison

AB Emerging Markets Multi-Asset Portfolio (ABIEX) has a higher volatility of 6.17% compared to Wasatch Emerging Markets Small Cap Fund (WAEMX) at 5.64%. This indicates that ABIEX's price experiences larger fluctuations and is considered to be riskier than WAEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ABIEX	WAEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.17%	5.64%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	12.72%	14.59%	-1.87%
Volatility (1Y) Calculated over the trailing 1-year period	14.45%	17.48%	-3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.02%	17.73%	-4.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.34%	18.19%	-4.85%

ABIEX vs. WAEMX - Expense Ratio Comparison

ABIEX has a 0.99% expense ratio, which is lower than WAEMX's 1.91% expense ratio.

Dividends

ABIEX vs. WAEMX - Dividend Comparison

ABIEX's dividend yield for the trailing twelve months is around 2.58%, less than WAEMX's 56.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ABIEX AB Emerging Markets Multi-Asset Portfolio	2.58%	3.50%	5.39%	6.16%	3.85%	3.63%	2.35%	5.31%	6.00%	3.80%	4.63%	4.11%
WAEMX Wasatch Emerging Markets Small Cap Fund	56.72%	70.40%	6.49%	0.00%	3.32%	6.03%	7.15%	5.82%	12.81%	0.00%	0.00%	0.02%

Frequently Asked Questions

Can I hold both ABIEX and WAEMX in my portfolio?

ABIEX and WAEMX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ABIEX or WAEMX?

ABIEX has higher volatility (6.17%) compared to WAEMX (5.64%). In terms of maximum drawdown, ABIEX dropped -38.56% vs WAEMX's -66.35%.

Which has better risk-adjusted returns?

ABIEX currently has the higher Sharpe Ratio (3.19 vs 2.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.