BTSMX vs. WSEFX

Last updated Aug 4, 2026

BTSMX (Boston Trust SMID Cap Fund) and WSEFX (Boston Trust Walden Equity Fund) are both mutual funds - BTSMX is a Mid Cap Blend Equities fund managed by Boston Trust Walden, while WSEFX is a Large Cap Blend Equities fund managed by Boston Trust Walden. Over the past 10 years, BTSMX returned 11.09%/yr vs 12.50%/yr for WSEFX. Their correlation of 0.87 means they have usually moved in the same direction. BTSMX charges 0.75%/yr vs 1.00%/yr for WSEFX.

Performance

BTSMX vs. WSEFX - 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 Equity Fund (WSEFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTSMX achieves a 10.33% return, which is significantly lower than WSEFX's 11.57% return. Over the past 10 years, BTSMX has underperformed WSEFX with an annualized return of 11.09%, while WSEFX has yielded a comparatively higher 12.50% annualized return.

BTSMX

• 1D: 0.11%
• 1M: 1.12%
• 6M: 7.02%
• YTD: 10.33%
• 1Y: 13.22%
• 3Y*: 8.85%
• 5Y*: 6.64%
• 10Y*: 11.09%
• ALL TIME*: 10.95%

WSEFX

• 1D: 0.27%
• 1M: 0.77%
• 6M: 8.76%
• YTD: 11.57%
• 1Y: 26.79%
• 3Y*: 12.44%
• 5Y*: 8.50%
• 10Y*: 12.50%
• ALL TIME*: 8.03%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BTSMX Boston Trust SMID Cap Fund	$0.00	$0.00	$0.00
WSEFX Boston Trust Walden Equity Fund	$0.00	$0.00	$0.00

BTSMX vs. WSEFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTSMX Boston Trust SMID Cap Fund	10.33%	0.72%	10.16%	13.14%	-12.02%	35.06%	8.27%	30.51%	-5.63%	17.69%
WSEFX Boston Trust Walden Equity Fund	11.57%	13.26%	9.78%	16.31%	-13.53%	27.97%	13.57%	35.43%	-2.54%	15.84%

Correlation

The correlation between BTSMX and WSEFX is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.66
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Dec 1, 2011	0.87

Over the past year, the correlation between BTSMX and WSEFX has dropped to 0.66 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.

Return for Risk

BTSMX vs. WSEFX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BTSMX

BTSMX Risk / Return Rank: 27
BTSMX Sharpe Ratio Rank: 26
BTSMX Sortino Ratio Rank: 28
BTSMX Omega Ratio Rank: 25
BTSMX Calmar Ratio Rank: 28
BTSMX Martin Ratio Rank: 26

WSEFX

WSEFX Risk / Return Rank: 85
WSEFX Sharpe Ratio Rank: 86
WSEFX Sortino Ratio Rank: 84
WSEFX Omega Ratio Rank: 80
WSEFX Calmar Ratio Rank: 82
WSEFX Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BTSMX vs. WSEFX - 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 Equity Fund (WSEFX). 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	WSEFX	Difference
Sharpe ratio: Return per unit of total volatility	0.96	2.15	-1.19
Sortino ratio: Return per unit of downside risk	1.53	3.04	-1.51
Omega ratio: Gain probability vs. loss probability	1.17	1.39	-0.21
Calmar ratio: Return relative to maximum drawdown	1.38	2.87	-1.49
Martin ratio: Return relative to average drawdown	3.87	13.06	-9.19

BTSMX vs. WSEFX - Sharpe Ratio Comparison

The current BTSMX Sharpe Ratio is 0.96, which is lower than the WSEFX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of BTSMX and WSEFX, 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. WSEFX - Drawdown Comparison

The maximum BTSMX drawdown since its inception was -38.04%, smaller than the maximum WSEFX drawdown of -48.02%. Use the drawdown chart below to compare losses from any high point for BTSMX and WSEFX.

Drawdown Indicators

	BTSMX	WSEFX	Difference
Max Drawdown Largest peak-to-trough decline	-38.04%	-48.02%	+9.98%
Max Drawdown (1Y) Largest decline over 1 year	-8.74%	-8.65%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-20.28%	-17.49%	-2.79%
Max Drawdown (5Y) Largest decline over 5 years	-21.46%	-21.99%	+0.53%
Max Drawdown (10Y) Largest decline over 10 years	-38.04%	-33.50%	-4.54%
Current Drawdown Current decline from peak	-0.84%	-0.07%	-0.77%
Average Drawdown Average peak-to-trough decline	-4.96%	-6.05%	+1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	1.90%	+1.20%

Volatility

BTSMX vs. WSEFX - Volatility Comparison

Boston Trust SMID Cap Fund (BTSMX) has a higher volatility of 3.84% compared to Boston Trust Walden Equity Fund (WSEFX) at 2.98%. This indicates that BTSMX's price experiences larger fluctuations and is considered to be riskier than WSEFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTSMX	WSEFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.84%	2.98%	+0.86%
Volatility (6M) Calculated over the trailing 6-month period	8.67%	8.84%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	12.55%	11.60%	+0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.75%	15.60%	+1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.31%	17.25%	+1.06%

BTSMX vs. WSEFX - Expense Ratio Comparison

BTSMX has a 0.75% expense ratio, which is lower than WSEFX's 1.00% expense ratio.

Dividends

BTSMX vs. WSEFX - Dividend Comparison

BTSMX's dividend yield for the trailing twelve months is around 1.86%, less than WSEFX's 10.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTSMX Boston Trust SMID Cap Fund	1.86%	2.05%	2.20%	0.79%	4.15%	6.35%	0.77%	6.33%	1.95%	0.47%	6.36%	7.34%
WSEFX Boston Trust Walden Equity Fund	10.35%	11.55%	4.95%	2.99%	3.31%	2.24%	4.15%	5.27%	2.20%	0.92%	3.39%	6.82%

Frequently Asked Questions

Can I hold both BTSMX and WSEFX in my portfolio?

BTSMX and WSEFX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTSMX or WSEFX?

BTSMX has higher volatility (3.84%) compared to WSEFX (2.98%). In terms of maximum drawdown, BTSMX dropped -38.04% vs WSEFX's -48.02%.

Which has better risk-adjusted returns?

WSEFX currently has the higher Sharpe Ratio (2.15 vs 0.96), 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.