EMPTX vs. WAEMX

Last updated Jul 14, 2026

EMPTX (UBS Emerging Markets Equity Opportunity Fund) and WAEMX (Wasatch Emerging Markets Small Cap Fund) are both Emerging Markets Diversified funds. Over the past 5 years, EMPTX returned 6.55%/yr vs 0.28%/yr for WAEMX. A 0.59 correlation means they provide meaningful diversification when combined. EMPTX charges 0.19%/yr vs 1.91%/yr for WAEMX.

Performance

EMPTX vs. WAEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS Emerging Markets Equity Opportunity Fund (EMPTX) and Wasatch Emerging Markets Small Cap Fund (WAEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMPTX achieves a 23.76% return, which is significantly higher than WAEMX's 20.00% return.

EMPTX

• 1D: 1.09%
• 1M: -0.91%
• 6M: 18.26%
• YTD: 23.76%
• 1Y: 48.70%
• 3Y*: 24.18%
• 5Y*: 6.55%
• 10Y*: —

WAEMX

• 1D: 0.00%
• 1M: -3.32%
• 6M: 16.57%
• YTD: 20.00%
• 1Y: 23.48%
• 3Y*: 10.89%
• 5Y*: 0.28%
• 10Y*: 7.76%

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

EMPTX vs. WAEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EMPTX UBS Emerging Markets Equity Opportunity Fund	23.76%	43.82%	2.51%	8.92%	-25.38%	-9.36%	24.79%	14.98%	0.55%
WAEMX Wasatch Emerging Markets Small Cap Fund	20.00%	5.85%	-2.21%	21.20%	-38.76%	30.16%	32.79%	27.45%	-16.37%

Correlation

The correlation between EMPTX and WAEMX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Jun 4, 2018	0.59

The correlation between EMPTX and WAEMX shifts across timeframes, from 0.44 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EMPTX vs. WAEMX — Risk / Return Rank

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

EMPTX

EMPTX Risk / Return Rank: 86
EMPTX Sharpe Ratio Rank: 90
EMPTX Sortino Ratio Rank: 79
EMPTX Omega Ratio Rank: 84
EMPTX Calmar Ratio Rank: 90
EMPTX Martin Ratio Rank: 89

WAEMX

WAEMX Risk / Return Rank: 45
WAEMX Sharpe Ratio Rank: 31
WAEMX Sortino Ratio Rank: 32
WAEMX Omega Ratio Rank: 31
WAEMX Calmar Ratio Rank: 79
WAEMX Martin Ratio Rank: 49

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.

EMPTX vs. WAEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS Emerging Markets Equity Opportunity Fund (EMPTX) 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.

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.

	EMPTX	WAEMX	Difference
Sharpe ratio: Return per unit of total volatility	2.42	1.21	+1.21
Sortino ratio: Return per unit of downside risk	2.96	1.82	+1.13
Omega ratio: Gain probability vs. loss probability	1.44	1.22	+0.21
Calmar ratio: Return relative to maximum drawdown	3.68	2.88	+0.80
Martin ratio: Return relative to average drawdown	13.22	8.11	+5.11

EMPTX vs. WAEMX - Sharpe Ratio Comparison

The current EMPTX Sharpe Ratio is 2.42, which is higher than the WAEMX Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of EMPTX 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.

Drawdowns

EMPTX vs. WAEMX - Drawdown Comparison

The maximum EMPTX drawdown since its inception was -46.03%, smaller than the maximum WAEMX drawdown of -66.35%. Use the drawdown chart below to compare losses from any high point for EMPTX and WAEMX.

Drawdown Indicators

	EMPTX	WAEMX	Difference
Max Drawdown Largest peak-to-trough decline	-46.03%	-66.35%	+20.32%
Max Drawdown (1Y) Largest decline over 1 year	-14.50%	-7.89%	-6.61%
Max Drawdown (3Y) Largest decline over 3 years	-15.50%	-25.56%	+10.06%
Max Drawdown (5Y) Largest decline over 5 years	-39.59%	-44.88%	+5.29%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.88%	—
Current Drawdown Current decline from peak	-5.92%	-11.22%	+5.30%
Average Drawdown Average peak-to-trough decline	-18.18%	-16.76%	-1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.89%	2.85%	+1.04%

Volatility

EMPTX vs. WAEMX - Volatility Comparison

UBS Emerging Markets Equity Opportunity Fund (EMPTX) has a higher volatility of 9.80% compared to Wasatch Emerging Markets Small Cap Fund (WAEMX) at 7.47%. This indicates that EMPTX'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

	EMPTX	WAEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.80%	7.47%	+2.33%
Volatility (6M) Calculated over the trailing 6-month period	19.70%	16.34%	+3.36%
Volatility (1Y) Calculated over the trailing 1-year period	22.03%	18.84%	+3.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.92%	18.04%	+1.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.68%	18.27%	+1.41%

EMPTX vs. WAEMX - Expense Ratio Comparison

EMPTX has a 0.19% expense ratio, which is lower than WAEMX's 1.91% expense ratio.

Dividends

EMPTX vs. WAEMX - Dividend Comparison

EMPTX's dividend yield for the trailing twelve months is around 1.55%, less than WAEMX's 58.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMPTX UBS Emerging Markets Equity Opportunity Fund	1.55%	1.91%	3.40%	3.20%	3.84%	11.93%	1.50%	2.75%	0.54%	0.00%	0.00%	0.00%
WAEMX Wasatch Emerging Markets Small Cap Fund	58.66%	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 EMPTX and WAEMX in my portfolio?

EMPTX and WAEMX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMPTX or WAEMX?

EMPTX has higher volatility (9.80%) compared to WAEMX (7.47%). In terms of maximum drawdown, EMPTX dropped -46.03% vs WAEMX's -66.35%.

Which has better risk-adjusted returns?

EMPTX currently has the higher Sharpe Ratio (2.42 vs 1.21), 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.