GPMCX vs. WAMCX

Last updated Aug 1, 2026

GPMCX (Grandeur Peak Global Micro Cap Fund) and WAMCX (Wasatch Ultra Growth Fund) are both mutual funds - GPMCX is a Foreign Small & Mid Cap Equities fund managed by Grandeur Peak Funds, while WAMCX is a Small Cap Growth Equities fund managed by Wasatch. Over the past 10 years, GPMCX returned 8.55%/yr vs 11.96%/yr for WAMCX. Their 0.58 correlation means they have sometimes moved together and sometimes differently. GPMCX charges 1.85%/yr vs 1.16%/yr for WAMCX.

Performance

GPMCX vs. WAMCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grandeur Peak Global Micro Cap Fund (GPMCX) and Wasatch Ultra Growth Fund (WAMCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPMCX achieves a 1.87% return, which is significantly lower than WAMCX's 11.62% return. Over the past 10 years, GPMCX has underperformed WAMCX with an annualized return of 8.55%, while WAMCX has yielded a comparatively higher 11.96% annualized return.

GPMCX

• 1D: 1.48%
• 1M: -0.38%
• 6M: 3.67%
• YTD: 1.87%
• 1Y: 5.33%
• 3Y*: 7.79%
• 5Y*: -1.94%
• 10Y*: 8.55%
• ALL TIME*: 8.82%

WAMCX

• 1D: 0.98%
• 1M: -2.61%
• 6M: 11.06%
• YTD: 11.62%
• 1Y: 24.32%
• 3Y*: 5.68%
• 5Y*: -3.99%
• 10Y*: 11.96%
• ALL TIME*: 9.47%

*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)
GPMCX Grandeur Peak Global Micro Cap Fund	$0.00	$0.00	$0.00
WAMCX Wasatch Ultra Growth Fund	$0.00	$0.00	$0.00

GPMCX vs. WAMCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GPMCX Grandeur Peak Global Micro Cap Fund	1.87%	13.25%	3.22%	12.46%	-31.66%	17.27%	53.02%	23.79%	-17.74%	31.50%
WAMCX Wasatch Ultra Growth Fund	11.62%	-2.85%	8.25%	19.19%	-39.71%	5.23%	71.48%	38.09%	10.34%	31.60%

Correlation

The correlation between GPMCX and WAMCX is 0.57, 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.	0.57
Correlation (3Y) Balances recent behavior with more history.	0.60
Correlation (5Y) Shows whether the relationship held over a longer period.	0.62
Correlation (10Y) Provides a long-term view across more market conditions.	0.58
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.58

The correlation between GPMCX and WAMCX has been stable across timeframes, ranging from 0.57 to 0.62 - a consistent structural relationship.

Return for Risk

GPMCX vs. WAMCX — Risk / Return Rank

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

GPMCX

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

WAMCX

WAMCX Risk / Return Rank: 27
WAMCX Sharpe Ratio Rank: 26
WAMCX Sortino Ratio Rank: 29
WAMCX Omega Ratio Rank: 25
WAMCX Calmar Ratio Rank: 25
WAMCX Martin Ratio Rank: 28

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.

GPMCX vs. WAMCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grandeur Peak Global Micro Cap Fund (GPMCX) and Wasatch Ultra Growth Fund (WAMCX). 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.

	GPMCX	WAMCX	Difference
Sharpe ratio: Return per unit of total volatility	0.39	0.89	-0.50
Sortino ratio: Return per unit of downside risk	0.66	1.41	-0.75
Omega ratio: Gain probability vs. loss probability	1.08	1.16	-0.08
Calmar ratio: Return relative to maximum drawdown	0.40	1.15	-0.75
Martin ratio: Return relative to average drawdown	1.19	4.00	-2.81

GPMCX vs. WAMCX - Sharpe Ratio Comparison

The current GPMCX Sharpe Ratio is 0.39, which is lower than the WAMCX Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of GPMCX and WAMCX, 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

GPMCX vs. WAMCX - Drawdown Comparison

The maximum GPMCX drawdown since its inception was -44.27%, smaller than the maximum WAMCX drawdown of -66.51%. Use the drawdown chart below to compare losses from any high point for GPMCX and WAMCX.

Drawdown Indicators

	GPMCX	WAMCX	Difference
Max Drawdown Largest peak-to-trough decline	-44.27%	-66.51%	+22.24%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-16.89%	+3.14%
Max Drawdown (3Y) Largest decline over 3 years	-16.40%	-33.21%	+16.81%
Max Drawdown (5Y) Largest decline over 5 years	-44.27%	-53.18%	+8.91%
Max Drawdown (10Y) Largest decline over 10 years	-44.27%	-53.18%	+8.91%
Current Drawdown Current decline from peak	-14.74%	-25.00%	+10.26%
Average Drawdown Average peak-to-trough decline	-15.06%	-15.21%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.62%	4.99%	-0.37%

Volatility

GPMCX vs. WAMCX - Volatility Comparison

Grandeur Peak Global Micro Cap Fund (GPMCX) and Wasatch Ultra Growth Fund (WAMCX) have volatilities of 4.46% and 4.26%, 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

	GPMCX	WAMCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.46%	4.26%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	11.81%	16.64%	-4.83%
Volatility (1Y) Calculated over the trailing 1-year period	14.26%	21.86%	-7.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.17%	27.48%	-12.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.88%	25.61%	-10.73%

GPMCX vs. WAMCX - Expense Ratio Comparison

GPMCX has a 1.85% expense ratio, which is higher than WAMCX's 1.16% expense ratio.

Dividends

GPMCX vs. WAMCX - Dividend Comparison

GPMCX's dividend yield for the trailing twelve months is around 3.27%, while WAMCX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPMCX Grandeur Peak Global Micro Cap Fund	3.27%	3.33%	0.53%	0.00%	0.00%	15.76%	8.25%	0.69%	6.99%	7.34%	1.20%	0.00%
WAMCX Wasatch Ultra Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	12.08%	2.99%	1.96%	7.65%	11.92%	11.44%	9.18%

Frequently Asked Questions

Can I hold both GPMCX and WAMCX in my portfolio?

GPMCX and WAMCX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GPMCX or WAMCX?

GPMCX has higher volatility (4.46%) compared to WAMCX (4.26%). In terms of maximum drawdown, GPMCX dropped -44.27% vs WAMCX's -66.51%.

Which has better risk-adjusted returns?

WAMCX currently has the higher Sharpe Ratio (0.89 vs 0.39), 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.