HLMSX vs. WAIOX
HLMSX (Harding Loevner International Small Companies Portfolio) and WAIOX (Wasatch International Opportunities Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, HLMSX returned 6.10%/yr vs 3.51%/yr for WAIOX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. HLMSX charges 1.37%/yr vs 1.96%/yr for WAIOX.
Performance
HLMSX vs. WAIOX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HLMSX achieves a 7.71% return, which is significantly higher than WAIOX's 5.59% return. Over the past 10 years, HLMSX has outperformed WAIOX with an annualized return of 6.10%, while WAIOX has yielded a comparatively lower 3.51% annualized return.
HLMSX
- 1D
- -0.66%
- 1M
- 0.88%
- 6M
- 5.11%
- YTD
- 7.71%
- 1Y
- 6.78%
- 3Y*
- 5.55%
- 5Y*
- -0.29%
- 10Y*
- 6.10%
- ALL TIME*
- 5.59%
WAIOX
- 1D
- 0.53%
- 1M
- -2.58%
- 6M
- 5.00%
- YTD
- 5.59%
- 1Y
- -2.50%
- 3Y*
- 3.51%
- 5Y*
- -6.91%
- 10Y*
- 3.51%
- ALL TIME*
- 6.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
HLMSX vs. WAIOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HLMSX Harding Loevner International Small Companies Portfolio | 7.71% | 14.87% | -6.92% | 11.78% | -24.50% | 12.82% | 18.51% | 29.45% | -17.65% | 34.42% |
WAIOX Wasatch International Opportunities Fund | 5.59% | 2.57% | -4.49% | 10.64% | -36.63% | -1.36% | 41.75% | 32.19% | -14.69% | 27.69% |
Correlation
The correlation between HLMSX and WAIOX is 0.74, 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. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2007 | 0.77 |
The correlation between HLMSX and WAIOX has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HLMSX vs. WAIOX — Risk / Return Rank
HLMSX
WAIOX
HLMSX vs. WAIOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harding Loevner International Small Companies Portfolio (HLMSX) and Wasatch International Opportunities Fund (WAIOX). 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.
| HLMSX | WAIOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.99 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | -0.12 | +0.77 |
| Martin ratioReturn relative to average drawdown | 1.65 | -0.29 | +1.93 |
Loading charts...
Drawdowns
HLMSX vs. WAIOX - Drawdown Comparison
The maximum HLMSX drawdown since its inception was -60.77%, smaller than the maximum WAIOX drawdown of -68.04%. Use the drawdown chart below to compare losses from any high point for HLMSX and WAIOX.
Loading charts...
Drawdown Indicators
| HLMSX | WAIOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.77% | -68.04% | +7.27% |
Max Drawdown (1Y)Largest decline over 1 year | -10.59% | -18.18% | +7.59% |
Max Drawdown (3Y)Largest decline over 3 years | -16.57% | -21.23% | +4.66% |
Max Drawdown (5Y)Largest decline over 5 years | -38.22% | -50.21% | +11.99% |
Max Drawdown (10Y)Largest decline over 10 years | -38.22% | -50.21% | +11.99% |
Current DrawdownCurrent decline from peak | -8.06% | -34.41% | +26.35% |
Average DrawdownAverage peak-to-trough decline | -13.19% | -16.94% | +3.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 7.71% | -3.55% |
Volatility
HLMSX vs. WAIOX - Volatility Comparison
The current volatility for Harding Loevner International Small Companies Portfolio (HLMSX) is 4.08%, while Wasatch International Opportunities Fund (WAIOX) has a volatility of 4.84%. This indicates that HLMSX experiences smaller price fluctuations and is considered to be less risky than WAIOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HLMSX | WAIOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 4.84% | -0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 10.56% | 12.82% | -2.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.62% | 15.15% | -2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.14% | 17.23% | -2.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.82% | 16.59% | -1.77% |
HLMSX vs. WAIOX - Expense Ratio Comparison
HLMSX has a 1.37% expense ratio, which is lower than WAIOX's 1.96% expense ratio.
Dividends
HLMSX vs. WAIOX - Dividend Comparison
HLMSX's dividend yield for the trailing twelve months is around 3.75%, less than WAIOX's 64.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HLMSX Harding Loevner International Small Companies Portfolio | 3.75% | 4.04% | 1.17% | 1.00% | 1.83% | 2.82% | 0.03% | 0.52% | 7.56% | 1.13% | 4.37% | 1.54% |
WAIOX Wasatch International Opportunities Fund | 64.68% | 68.29% | 0.00% | 0.00% | 0.00% | 14.35% | 1.98% | 2.38% | 2.73% | 7.00% | 0.00% | 4.76% |
Frequently Asked Questions
HLMSX and WAIOX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WAIOX has higher volatility (4.84%) compared to HLMSX (4.08%). In terms of maximum drawdown, HLMSX dropped -60.77% vs WAIOX's -68.04%.
HLMSX currently has the higher Sharpe Ratio (0.55 vs -0.15), 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.
Find the right allocation for HLMSX and WAIOX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer