BTSMX vs. WAMFX

Last updated Jun 23, 2026

BTSMX (Boston Trust SMID Cap Fund) and WAMFX (Boston Trust Walden Midcap Fund) are both Mid Cap Blend Equities funds from Boston Trust Walden. Over the past 10 years, BTSMX returned 10.64%/yr vs 10.27%/yr for WAMFX. With a 0.96 correlation, they move nearly in lockstep. BTSMX charges 0.75%/yr vs 0.99%/yr for WAMFX.

Performance

BTSMX vs. WAMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Boston Trust SMID Cap Fund (BTSMX) and Boston Trust Walden Midcap Fund (WAMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTSMX achieves a 4.07% return, which is significantly higher than WAMFX's 2.40% return. Both investments have delivered pretty close results over the past 10 years, with BTSMX having a 10.64% annualized return and WAMFX not far behind at 10.27%.

BTSMX

• 1D: 1.03%
• 1M: 1.51%
• YTD: 4.07%
• 6M: 2.32%
• 1Y: 8.29%
• 3Y*: 8.26%
• 5Y*: 6.44%
• 10Y*: 10.64%

WAMFX

• 1D: 0.66%
• 1M: 0.83%
• YTD: 2.40%
• 6M: 0.97%
• 1Y: 8.47%
• 3Y*: 8.55%
• 5Y*: 6.61%
• 10Y*: 10.27%

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

BTSMX vs. WAMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTSMX Boston Trust SMID Cap Fund	4.07%	0.72%	10.16%	13.14%	-12.02%	35.06%	8.27%	30.51%	-5.63%	17.69%
WAMFX Boston Trust Walden Midcap Fund	2.40%	4.82%	10.39%	13.90%	-10.87%	24.85%	9.56%	36.98%	-3.59%	16.21%

Correlation

The correlation between BTSMX and WAMFX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Dec 1, 2011	0.96

The correlation between BTSMX and WAMFX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

BTSMX vs. WAMFX — Risk / Return Rank

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

BTSMX

BTSMX Risk / Return Rank: 9
BTSMX Sharpe Ratio Rank: 8
BTSMX Sortino Ratio Rank: 9
BTSMX Omega Ratio Rank: 8
BTSMX Calmar Ratio Rank: 10
BTSMX Martin Ratio Rank: 10

WAMFX

WAMFX Risk / Return Rank: 10
WAMFX Sharpe Ratio Rank: 9
WAMFX Sortino Ratio Rank: 10
WAMFX Omega Ratio Rank: 9
WAMFX Calmar Ratio Rank: 11
WAMFX Martin Ratio Rank: 11

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.

BTSMX vs. WAMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Boston Trust SMID Cap Fund (BTSMX) and Boston Trust Walden Midcap Fund (WAMFX). 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.

	BTSMX	WAMFX	Difference
Sharpe ratio: Return per unit of total volatility	0.66	0.72	-0.06
Sortino ratio: Return per unit of downside risk	1.08	1.15	-0.07
Omega ratio: Gain probability vs. loss probability	1.12	1.13	-0.01
Calmar ratio: Return relative to maximum drawdown	0.95	1.03	-0.08
Martin ratio: Return relative to average drawdown	2.66	2.97	-0.31

BTSMX vs. WAMFX - Sharpe Ratio Comparison

The current BTSMX Sharpe Ratio is 0.66, which is comparable to the WAMFX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of BTSMX and WAMFX, 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

BTSMX vs. WAMFX - Drawdown Comparison

The maximum BTSMX drawdown since its inception was -38.04%, roughly equal to the maximum WAMFX drawdown of -36.81%. Use the drawdown chart below to compare losses from any high point for BTSMX and WAMFX.

Drawdown Indicators

	BTSMX	WAMFX	Difference
Max Drawdown Largest peak-to-trough decline	-38.04%	-36.81%	-1.23%
Max Drawdown (1Y) Largest decline over 1 year	-8.74%	-8.38%	-0.36%
Max Drawdown (3Y) Largest decline over 3 years	-20.28%	-17.51%	-2.77%
Max Drawdown (5Y) Largest decline over 5 years	-21.46%	-20.82%	-0.64%
Max Drawdown (10Y) Largest decline over 10 years	-38.04%	-36.81%	-1.23%
Current Drawdown Current decline from peak	-3.41%	-2.17%	-1.24%
Average Drawdown Average peak-to-trough decline	-4.99%	-3.93%	-1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	2.91%	+0.22%

Volatility

BTSMX vs. WAMFX - Volatility Comparison

Boston Trust SMID Cap Fund (BTSMX) and Boston Trust Walden Midcap Fund (WAMFX) have volatilities of 3.27% and 3.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTSMX	WAMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.27%	3.43%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	8.51%	8.37%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	12.65%	12.02%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.77%	15.82%	+0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.39%	17.49%	+0.90%

BTSMX vs. WAMFX - Expense Ratio Comparison

BTSMX has a 0.75% expense ratio, which is lower than WAMFX's 0.99% expense ratio.

Dividends

BTSMX vs. WAMFX - Dividend Comparison

BTSMX's dividend yield for the trailing twelve months is around 1.97%, less than WAMFX's 7.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTSMX Boston Trust SMID Cap Fund	1.97%	2.05%	2.20%	0.79%	4.15%	6.35%	0.77%	6.33%	1.95%	0.47%	6.36%	7.34%
WAMFX Boston Trust Walden Midcap Fund	7.06%	7.23%	3.49%	4.84%	5.55%	4.82%	3.87%	12.83%	7.08%	0.45%	5.06%	5.54%

Frequently Asked Questions

Can I hold both BTSMX and WAMFX in my portfolio?

With a correlation of 0.96, BTSMX and WAMFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BTSMX or WAMFX?

WAMFX has higher volatility (3.43%) compared to BTSMX (3.27%). In terms of maximum drawdown, BTSMX dropped -38.04% vs WAMFX's -36.81%.

Which has better risk-adjusted returns?

WAMFX currently has the higher Sharpe Ratio (0.72 vs 0.66), 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.