HEQFX vs. WAMFX

Last updated Jun 26, 2026

HEQFX (Monteagle Opportunity Equity Fund) and WAMFX (Boston Trust Walden Midcap Fund) are both Mid Cap Blend Equities funds. Over the past 10 years, HEQFX returned 10.02%/yr vs 10.64%/yr for WAMFX. Their correlation of 0.92 suggests significant overlap in exposure. HEQFX charges 1.71%/yr vs 0.99%/yr for WAMFX.

Performance

HEQFX vs. WAMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monteagle Opportunity Equity Fund (HEQFX) 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, HEQFX achieves a 10.30% return, which is significantly higher than WAMFX's 3.29% return. Over the past 10 years, HEQFX has underperformed WAMFX with an annualized return of 10.02%, while WAMFX has yielded a comparatively higher 10.64% annualized return.

HEQFX

• 1D: 0.78%
• 1M: 0.59%
• YTD: 10.30%
• 6M: 8.66%
• 1Y: 21.39%
• 3Y*: 13.41%
• 5Y*: 7.95%
• 10Y*: 10.02%

WAMFX

• 1D: 1.00%
• 1M: 1.53%
• YTD: 3.29%
• 6M: 1.84%
• 1Y: 8.60%
• 3Y*: 9.77%
• 5Y*: 6.18%
• 10Y*: 10.64%

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

HEQFX vs. WAMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HEQFX Monteagle Opportunity Equity Fund	10.30%	9.63%	7.69%	13.38%	-5.43%	20.00%	12.46%	25.07%	-11.61%	10.48%
WAMFX Boston Trust Walden Midcap Fund	3.29%	4.82%	10.39%	13.90%	-10.87%	24.85%	9.56%	36.98%	-3.59%	16.21%

Correlation

The correlation between HEQFX and WAMFX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Aug 1, 2011	0.92

The correlation between HEQFX and WAMFX has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

Return for Risk

HEQFX vs. WAMFX — Risk / Return Rank

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

HEQFX

HEQFX Risk / Return Rank: 45
HEQFX Sharpe Ratio Rank: 37
HEQFX Sortino Ratio Rank: 40
HEQFX Omega Ratio Rank: 36
HEQFX Calmar Ratio Rank: 65
HEQFX Martin Ratio Rank: 47

WAMFX

WAMFX Risk / Return Rank: 11
WAMFX Sharpe Ratio Rank: 10
WAMFX Sortino Ratio Rank: 11
WAMFX Omega Ratio Rank: 10
WAMFX Calmar Ratio Rank: 12
WAMFX Martin Ratio Rank: 12

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.

HEQFX vs. WAMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monteagle Opportunity Equity Fund (HEQFX) 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.

	HEQFX	WAMFX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	0.63	+0.83
Sortino ratio: Return per unit of downside risk	2.18	1.01	+1.16
Omega ratio: Gain probability vs. loss probability	1.26	1.12	+0.15
Calmar ratio: Return relative to maximum drawdown	2.65	0.90	+1.75
Martin ratio: Return relative to average drawdown	8.34	2.57	+5.77

HEQFX vs. WAMFX - Sharpe Ratio Comparison

The current HEQFX Sharpe Ratio is 1.46, which is higher than the WAMFX Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of HEQFX 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

HEQFX vs. WAMFX - Drawdown Comparison

The maximum HEQFX drawdown since its inception was -99.11%, which is greater than WAMFX's maximum drawdown of -36.81%. Use the drawdown chart below to compare losses from any high point for HEQFX and WAMFX.

Drawdown Indicators

	HEQFX	WAMFX	Difference
Max Drawdown Largest peak-to-trough decline	-99.11%	-36.81%	-62.30%
Max Drawdown (1Y) Largest decline over 1 year	-7.72%	-8.38%	+0.66%
Max Drawdown (3Y) Largest decline over 3 years	-99.11%	-17.51%	-81.60%
Max Drawdown (5Y) Largest decline over 5 years	-99.11%	-20.82%	-78.29%
Max Drawdown (10Y) Largest decline over 10 years	-99.11%	-36.81%	-62.30%
Current Drawdown Current decline from peak	-98.75%	-1.32%	-97.43%
Average Drawdown Average peak-to-trough decline	-11.15%	-3.93%	-7.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	2.91%	-0.46%

Volatility

HEQFX vs. WAMFX - Volatility Comparison

Monteagle Opportunity Equity Fund (HEQFX) has a higher volatility of 3.86% compared to Boston Trust Walden Midcap Fund (WAMFX) at 3.22%. This indicates that HEQFX's price experiences larger fluctuations and is considered to be riskier than WAMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEQFX	WAMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	3.22%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	9.94%	8.42%	+1.52%
Volatility (1Y) Calculated over the trailing 1-year period	14.08%	11.99%	+2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4,128.89%	15.81%	+4,113.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2,916.67%	17.44%	+2,899.23%

HEQFX vs. WAMFX - Expense Ratio Comparison

HEQFX has a 1.71% expense ratio, which is higher than WAMFX's 0.99% expense ratio.

Dividends

HEQFX vs. WAMFX - Dividend Comparison

HEQFX's dividend yield for the trailing twelve months is around 9.91%, more than WAMFX's 7.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HEQFX Monteagle Opportunity Equity Fund	9.91%	10.97%	4.78%	30.44%	6.65%	27.15%	0.68%	7.39%	7.07%	10.68%	12.44%	62.20%
WAMFX Boston Trust Walden Midcap Fund	7.00%	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 HEQFX and WAMFX in my portfolio?

HEQFX and WAMFX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HEQFX or WAMFX?

HEQFX has higher volatility (3.86%) compared to WAMFX (3.22%). In terms of maximum drawdown, HEQFX dropped -99.11% vs WAMFX's -36.81%.

Which has better risk-adjusted returns?

HEQFX currently has the higher Sharpe Ratio (1.46 vs 0.63), 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.