ASILX vs. WALSX

Last updated Jun 24, 2026

ASILX (AB Select US Long/Short Portfolio) and WALSX (Wasatch Long/Short Alpha Fund) are both Long-Short funds. Over the past 3 years, ASILX returned 12.88%/yr vs 6.25%/yr for WALSX. A 0.68 correlation means they provide meaningful diversification when combined. ASILX charges 1.55%/yr vs 1.75%/yr for WALSX.

Performance

ASILX vs. WALSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Select US Long/Short Portfolio (ASILX) and Wasatch Long/Short Alpha Fund (WALSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASILX achieves a 4.34% return, which is significantly lower than WALSX's 5.87% return.

ASILX

• 1D: -0.13%
• 1M: 0.20%
• YTD: 4.34%
• 6M: 4.06%
• 1Y: 12.21%
• 3Y*: 12.88%
• 5Y*: 7.89%
• 10Y*: 9.25%

WALSX

• 1D: 0.15%
• 1M: 1.33%
• YTD: 5.87%
• 6M: 3.92%
• 1Y: -3.42%
• 3Y*: 6.25%
• 5Y*: —
• 10Y*: —

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

ASILX vs. WALSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ASILX AB Select US Long/Short Portfolio	4.34%	9.77%	18.46%	11.06%	-9.94%	6.73%
WALSX Wasatch Long/Short Alpha Fund	5.87%	-12.79%	7.24%	27.75%	-8.38%	12.20%

Correlation

The correlation between ASILX and WALSX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021	0.68

Over the past year, the correlation between ASILX and WALSX has dropped to 0.47 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

Return for Risk

ASILX vs. WALSX — Risk / Return Rank

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

ASILX

ASILX Risk / Return Rank: 76
ASILX Sharpe Ratio Rank: 74
ASILX Sortino Ratio Rank: 73
ASILX Omega Ratio Rank: 73
ASILX Calmar Ratio Rank: 82
ASILX Martin Ratio Rank: 78

WALSX

WALSX Risk / Return Rank: 2
WALSX Sharpe Ratio Rank: 2
WALSX Sortino Ratio Rank: 2
WALSX Omega Ratio Rank: 2
WALSX Calmar Ratio Rank: 2
WALSX Martin Ratio Rank: 2

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.

ASILX vs. WALSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Select US Long/Short Portfolio (ASILX) and Wasatch Long/Short Alpha Fund (WALSX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ASILX	WALSX	Difference
Sharpe ratio: Return per unit of total volatility	2.30	-0.19	+2.50
Sortino ratio: Return per unit of downside risk	3.24	-0.18	+3.42
Omega ratio: Gain probability vs. loss probability	1.44	0.98	+0.46
Calmar ratio: Return relative to maximum drawdown	3.54	-0.24	+3.78
Martin ratio: Return relative to average drawdown	13.64	-0.47	+14.11

ASILX vs. WALSX - Sharpe Ratio Comparison

The current ASILX Sharpe Ratio is 2.30, which is higher than the WALSX Sharpe Ratio of -0.19. The chart below compares the historical Sharpe Ratios of ASILX and WALSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ASILX vs. WALSX - Drawdown Comparison

The maximum ASILX drawdown since its inception was -18.36%, smaller than the maximum WALSX drawdown of -25.28%. Use the drawdown chart below to compare losses from any high point for ASILX and WALSX.

Drawdown Indicators

	ASILX	WALSX	Difference
Max Drawdown Largest peak-to-trough decline	-18.36%	-25.28%	+6.92%
Max Drawdown (1Y) Largest decline over 1 year	-3.61%	-12.66%	+9.05%
Max Drawdown (3Y) Largest decline over 3 years	-7.94%	-25.28%	+17.34%
Max Drawdown (5Y) Largest decline over 5 years	-12.30%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-18.36%	—	—
Current Drawdown Current decline from peak	-0.59%	-18.71%	+18.12%
Average Drawdown Average peak-to-trough decline	-2.45%	-9.61%	+7.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	6.55%	-5.61%

Volatility

ASILX vs. WALSX - Volatility Comparison

The current volatility for AB Select US Long/Short Portfolio (ASILX) is 2.04%, while Wasatch Long/Short Alpha Fund (WALSX) has a volatility of 3.20%. This indicates that ASILX experiences smaller price fluctuations and is considered to be less risky than WALSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASILX	WALSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.04%	3.20%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	3.88%	11.75%	-7.87%
Volatility (1Y) Calculated over the trailing 1-year period	5.56%	15.84%	-10.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.98%	16.32%	-8.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.30%	16.32%	-7.02%

ASILX vs. WALSX - Expense Ratio Comparison

ASILX has a 1.55% expense ratio, which is lower than WALSX's 1.75% expense ratio.

Dividends

ASILX vs. WALSX - Dividend Comparison

ASILX's dividend yield for the trailing twelve months is around 12.60%, while WALSX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASILX AB Select US Long/Short Portfolio	12.60%	13.15%	7.18%	1.41%	6.51%	11.92%	4.28%	3.54%	8.71%	5.03%	0.00%	3.35%
WALSX Wasatch Long/Short Alpha Fund	0.00%	0.00%	0.00%	0.00%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ASILX and WALSX in my portfolio?

ASILX and WALSX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASILX or WALSX?

WALSX has higher volatility (3.20%) compared to ASILX (2.04%). In terms of maximum drawdown, ASILX dropped -18.36% vs WALSX's -25.28%.

Which has better risk-adjusted returns?

ASILX currently has the higher Sharpe Ratio (2.30 vs -0.19), 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.