LSEIX vs. WALSX

Last updated Aug 4, 2026

LSEIX (Persimmon Long/Short Fund) and WALSX (Wasatch Long/Short Alpha Fund) are both Long-Short funds. Over the past 3 years, LSEIX returned 15.33%/yr vs 7.15%/yr for WALSX. Their 0.69 correlation means they have sometimes moved together and sometimes differently. LSEIX charges 1.91%/yr vs 1.75%/yr for WALSX.

Performance

LSEIX vs. WALSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Persimmon Long/Short Fund (LSEIX) and Wasatch Long/Short Alpha Fund (WALSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LSEIX achieves a 10.15% return, which is significantly lower than WALSX's 13.20% return.

LSEIX

• 1D: 0.53%
• 1M: 1.65%
• 6M: 6.94%
• YTD: 10.15%
• 1Y: 19.75%
• 3Y*: 15.33%
• 5Y*: 9.74%
• 10Y*: 7.55%
• ALL TIME*: 6.34%

WALSX

• 1D: -0.36%
• 1M: 0.58%
• 6M: 8.01%
• YTD: 13.20%
• 1Y: 7.26%
• 3Y*: 7.15%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.06%

*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)
LSEIX Persimmon Long/Short Fund	$0.00	$0.00	$0.00
WALSX Wasatch Long/Short Alpha Fund	$0.00	$0.00	$0.00

LSEIX vs. WALSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LSEIX Persimmon Long/Short Fund	10.15%	12.02%	17.36%	15.70%	-9.95%	7.02%
WALSX Wasatch Long/Short Alpha Fund	13.20%	-12.79%	7.24%	27.75%	-8.38%	12.20%

Correlation

The correlation between LSEIX and WALSX is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.45
Correlation (3Y) Balances recent behavior with more history.	0.61
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021	0.69

Over the past year, the correlation between LSEIX and WALSX has dropped to 0.45 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

Return for Risk

LSEIX vs. WALSX — Risk / Return Rank

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

LSEIX

LSEIX Risk / Return Rank: 87
LSEIX Sharpe Ratio Rank: 84
LSEIX Sortino Ratio Rank: 81
LSEIX Omega Ratio Rank: 81
LSEIX Calmar Ratio Rank: 96
LSEIX Martin Ratio Rank: 97

WALSX

WALSX Risk / Return Rank: 11
WALSX Sharpe Ratio Rank: 11
WALSX Sortino Ratio Rank: 12
WALSX Omega Ratio Rank: 10
WALSX Calmar Ratio Rank: 13
WALSX Martin Ratio Rank: 10

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.

LSEIX vs. WALSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Persimmon Long/Short Fund (LSEIX) and Wasatch Long/Short Alpha Fund (WALSX). 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.

	LSEIX	WALSX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	0.46	+1.60
Sortino ratio: Return per unit of downside risk	2.87	0.83	+2.04
Omega ratio: Gain probability vs. loss probability	1.39	1.09	+0.30
Calmar ratio: Return relative to maximum drawdown	4.61	0.69	+3.91
Martin ratio: Return relative to average drawdown	18.38	1.40	+16.98

LSEIX vs. WALSX - Sharpe Ratio Comparison

The current LSEIX Sharpe Ratio is 2.06, which is higher than the WALSX Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of LSEIX and WALSX, 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

LSEIX vs. WALSX - Drawdown Comparison

The maximum LSEIX drawdown since its inception was -19.92%, smaller than the maximum WALSX drawdown of -25.28%. Use the drawdown chart below to compare losses from any high point for LSEIX and WALSX.

Drawdown Indicators

	LSEIX	WALSX	Difference
Max Drawdown Largest peak-to-trough decline	-19.92%	-25.28%	+5.36%
Max Drawdown (1Y) Largest decline over 1 year	-3.90%	-10.76%	+6.86%
Max Drawdown (3Y) Largest decline over 3 years	-13.63%	-25.28%	+11.65%
Max Drawdown (5Y) Largest decline over 5 years	-13.63%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.92%	—	—
Current Drawdown Current decline from peak	0.00%	-13.08%	+13.08%
Average Drawdown Average peak-to-trough decline	-4.00%	-9.71%	+5.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	5.31%	-4.33%

Volatility

LSEIX vs. WALSX - Volatility Comparison

The current volatility for Persimmon Long/Short Fund (LSEIX) is 1.98%, while Wasatch Long/Short Alpha Fund (WALSX) has a volatility of 4.98%. This indicates that LSEIX experiences smaller price fluctuations and is considered to be less risky than WALSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LSEIX	WALSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	4.98%	-3.00%
Volatility (6M) Calculated over the trailing 6-month period	5.69%	12.35%	-6.66%
Volatility (1Y) Calculated over the trailing 1-year period	8.77%	16.26%	-7.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.89%	16.38%	-5.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.69%	16.38%	-5.69%

LSEIX vs. WALSX - Expense Ratio Comparison

LSEIX has a 1.91% expense ratio, which is higher than WALSX's 1.75% expense ratio.

Dividends

LSEIX vs. WALSX - Dividend Comparison

Neither LSEIX nor WALSX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LSEIX Persimmon Long/Short Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.23%	3.49%	6.18%	0.00%	4.88%
WALSX Wasatch Long/Short Alpha Fund	0.00%	0.00%	0.00%	0.00%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LSEIX and WALSX in my portfolio?

LSEIX and WALSX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LSEIX or WALSX?

WALSX has higher volatility (4.98%) compared to LSEIX (1.98%). In terms of maximum drawdown, LSEIX dropped -19.92% vs WALSX's -25.28%.

Which has better risk-adjusted returns?

LSEIX currently has the higher Sharpe Ratio (2.06 vs 0.46), 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.