LVAZX vs. WAFMX

Last updated Aug 4, 2026

LVAZX (LSV Emerging Markets Equity Fund) and WAFMX (Wasatch Frontier Emerging Small Countries Fund) are both Emerging Markets Equities funds. Over the past 5 years, LVAZX returned 15.08%/yr vs -2.96%/yr for WAFMX. Their 0.62 correlation means they have sometimes moved together and sometimes differently. LVAZX charges 1.45%/yr vs 2.15%/yr for WAFMX.

Performance

LVAZX vs. WAFMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LSV Emerging Markets Equity Fund (LVAZX) and Wasatch Frontier Emerging Small Countries Fund (WAFMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LVAZX achieves a 25.74% return, which is significantly higher than WAFMX's 0.56% return.

LVAZX

• 1D: 1.09%
• 1M: -0.20%
• 6M: 15.39%
• YTD: 25.74%
• 1Y: 48.21%
• 3Y*: 26.11%
• 5Y*: 15.08%
• 10Y*: —
• ALL TIME*: 13.08%

WAFMX

• 1D: 0.28%
• 1M: -3.21%
• 6M: -4.49%
• YTD: 0.56%
• 1Y: -2.43%
• 3Y*: 7.20%
• 5Y*: -2.96%
• 10Y*: 3.44%
• ALL TIME*: 4.45%

*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)
LVAZX LSV Emerging Markets Equity Fund	$0.00	$0.00	$0.00
WAFMX Wasatch Frontier Emerging Small Countries Fund	$0.00	$0.00	$0.00

LVAZX vs. WAFMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LVAZX LSV Emerging Markets Equity Fund	25.74%	39.90%	7.26%	21.26%	-13.03%	13.77%	5.03%	5.91%
WAFMX Wasatch Frontier Emerging Small Countries Fund	0.56%	4.35%	10.67%	28.16%	-41.11%	8.60%	28.24%	18.50%

Correlation

The correlation between LVAZX and WAFMX is 0.64, 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.	0.64
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (5Y) Shows whether the relationship held over a longer period.	0.61
Correlation (All Time) Calculated using the full available price history since Jan 25, 2019	0.62

The correlation between LVAZX and WAFMX has been stable across timeframes, ranging from 0.58 to 0.64 - a consistent structural relationship.

Return for Risk

LVAZX vs. WAFMX — Risk / Return Rank

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

LVAZX

LVAZX Risk / Return Rank: 88
LVAZX Sharpe Ratio Rank: 91
LVAZX Sortino Ratio Rank: 82
LVAZX Omega Ratio Rank: 87
LVAZX Calmar Ratio Rank: 94
LVAZX Martin Ratio Rank: 88

WAFMX

WAFMX Risk / Return Rank: 2
WAFMX Sharpe Ratio Rank: 3
WAFMX Sortino Ratio Rank: 2
WAFMX Omega Ratio Rank: 2
WAFMX Calmar Ratio Rank: 2
WAFMX Martin Ratio Rank: 2

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.

LVAZX vs. WAFMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LSV Emerging Markets Equity Fund (LVAZX) and Wasatch Frontier Emerging Small Countries Fund (WAFMX). 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.

	LVAZX	WAFMX	Difference
Sharpe ratio: Return per unit of total volatility	2.34	-0.18	+2.52
Sortino ratio: Return per unit of downside risk	2.92	-0.15	+3.07
Omega ratio: Gain probability vs. loss probability	1.44	0.98	+0.46
Calmar ratio: Return relative to maximum drawdown	4.03	-0.21	+4.24
Martin ratio: Return relative to average drawdown	12.00	-0.50	+12.51

LVAZX vs. WAFMX - Sharpe Ratio Comparison

The current LVAZX Sharpe Ratio is 2.34, which is higher than the WAFMX Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of LVAZX and WAFMX, 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

LVAZX vs. WAFMX - Drawdown Comparison

The maximum LVAZX drawdown since its inception was -37.87%, smaller than the maximum WAFMX drawdown of -49.51%. Use the drawdown chart below to compare losses from any high point for LVAZX and WAFMX.

Drawdown Indicators

	LVAZX	WAFMX	Difference
Max Drawdown Largest peak-to-trough decline	-37.87%	-49.51%	+11.64%
Max Drawdown (1Y) Largest decline over 1 year	-11.58%	-12.85%	+1.27%
Max Drawdown (3Y) Largest decline over 3 years	-15.02%	-15.26%	+0.24%
Max Drawdown (5Y) Largest decline over 5 years	-27.07%	-49.51%	+22.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-49.51%	—
Current Drawdown Current decline from peak	-7.89%	-21.32%	+13.43%
Average Drawdown Average peak-to-trough decline	-6.76%	-16.82%	+10.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.88%	5.35%	-1.47%

Volatility

LVAZX vs. WAFMX - Volatility Comparison

LSV Emerging Markets Equity Fund (LVAZX) has a higher volatility of 8.10% compared to Wasatch Frontier Emerging Small Countries Fund (WAFMX) at 4.02%. This indicates that LVAZX's price experiences larger fluctuations and is considered to be riskier than WAFMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LVAZX	WAFMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.10%	4.02%	+4.08%
Volatility (6M) Calculated over the trailing 6-month period	18.30%	12.71%	+5.59%
Volatility (1Y) Calculated over the trailing 1-year period	19.95%	15.09%	+4.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.34%	17.63%	-2.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.41%	16.94%	-0.53%

LVAZX vs. WAFMX - Expense Ratio Comparison

LVAZX has a 1.45% expense ratio, which is lower than WAFMX's 2.15% expense ratio.

Dividends

LVAZX vs. WAFMX - Dividend Comparison

LVAZX's dividend yield for the trailing twelve months is around 4.07%, while WAFMX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LVAZX LSV Emerging Markets Equity Fund	4.07%	5.12%	1.39%	4.58%	3.14%	8.50%	2.54%	2.99%	0.00%	0.00%	0.00%	0.00%
WAFMX Wasatch Frontier Emerging Small Countries Fund	0.00%	0.00%	0.76%	0.00%	0.00%	0.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.17%

Frequently Asked Questions

Can I hold both LVAZX and WAFMX in my portfolio?

LVAZX and WAFMX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LVAZX or WAFMX?

LVAZX has higher volatility (8.10%) compared to WAFMX (4.02%). In terms of maximum drawdown, LVAZX dropped -37.87% vs WAFMX's -49.51%.

Which has better risk-adjusted returns?

LVAZX currently has the higher Sharpe Ratio (2.34 vs -0.18), 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.