OBSOX vs. WAAEX

Last updated Jun 3, 2026

OBSOX (Oberweis Small-Cap Opportunities Fund) and WAAEX (Wasatch Small Cap Growth Fund) are both Small Cap Growth Equities funds. Over the past 10 years, OBSOX returned 18.67%/yr vs 8.75%/yr for WAAEX. Their correlation of 0.87 suggests significant overlap in exposure. OBSOX charges 1.25%/yr vs 1.12%/yr for WAAEX.

Performance

OBSOX vs. WAAEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oberweis Small-Cap Opportunities Fund (OBSOX) and Wasatch Small Cap Growth Fund (WAAEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OBSOX achieves a 32.65% return, which is significantly higher than WAAEX's -1.90% return. Over the past 10 years, OBSOX has outperformed WAAEX with an annualized return of 18.67%, while WAAEX has yielded a comparatively lower 8.75% annualized return.

OBSOX

• 1D: 1.34%
• 1M: 5.11%
• YTD: 32.65%
• 6M: 33.47%
• 1Y: 58.95%
• 3Y*: 22.87%
• 5Y*: 16.20%
• 10Y*: 18.67%

WAAEX

• 1D: 0.27%
• 1M: 0.41%
• YTD: -1.90%
• 6M: -3.47%
• 1Y: -4.09%
• 3Y*: 5.40%
• 5Y*: -5.35%
• 10Y*: 8.75%

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

OBSOX vs. WAAEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OBSOX Oberweis Small-Cap Opportunities Fund	32.65%	14.28%	16.13%	15.81%	-11.17%	43.39%	32.52%	25.06%	-7.05%	25.55%
WAAEX Wasatch Small Cap Growth Fund	-1.90%	-8.78%	15.50%	21.24%	-40.26%	7.68%	54.65%	40.29%	2.42%	21.72%

Correlation

The correlation between OBSOX and WAAEX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Sep 17, 1996	0.87

The correlation between OBSOX and WAAEX shifts across timeframes, from 0.75 (1 year) to 0.88 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

OBSOX vs. WAAEX — Risk / Return Rank

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

OBSOX

OBSOX Risk / Return Rank: 71
OBSOX Sharpe Ratio Rank: 67
OBSOX Sortino Ratio Rank: 52
OBSOX Omega Ratio Rank: 51
OBSOX Calmar Ratio Rank: 93
OBSOX Martin Ratio Rank: 92

WAAEX

WAAEX Risk / Return Rank: 2
WAAEX Sharpe Ratio Rank: 2
WAAEX Sortino Ratio Rank: 2
WAAEX Omega Ratio Rank: 2
WAAEX Calmar Ratio Rank: 2
WAAEX Martin Ratio Rank: 1

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.

OBSOX vs. WAAEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oberweis Small-Cap Opportunities Fund (OBSOX) and Wasatch Small Cap Growth Fund (WAAEX). 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.

	OBSOX	WAAEX	Difference
Sharpe ratio Return per unit of total volatility	2.39	-0.22	+2.62
Sortino ratio Return per unit of downside risk	3.05	-0.19	+3.24
Omega ratio Gain probability vs. loss probability	1.39	0.98	+0.41
Calmar ratio Return relative to maximum drawdown	5.22	-0.25	+5.47
Martin ratio Return relative to average drawdown	19.37	-0.62	+19.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OBSOX vs. WAAEX - Sharpe Ratio Comparison

The current OBSOX Sharpe Ratio is 2.39, which is higher than the WAAEX Sharpe Ratio of -0.22. The chart below compares the historical Sharpe Ratios of OBSOX and WAAEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OBSOX	WAAEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	-0.22	+2.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	-0.21	+0.86
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.35	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.49	-0.16

Drawdowns

OBSOX vs. WAAEX - Drawdown Comparison

The maximum OBSOX drawdown since its inception was -80.52%, which is greater than WAAEX's maximum drawdown of -56.48%. Use the drawdown chart below to compare losses from any high point for OBSOX and WAAEX.

Drawdown Indicators

	OBSOX	WAAEX	Difference
Max Drawdown Largest peak-to-trough decline	-80.52%	-56.48%	-24.04%
Max Drawdown (1Y) Largest decline over 1 year	-11.40%	-16.76%	+5.36%
Max Drawdown (3Y) Largest decline over 3 years	-27.74%	-27.68%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-28.65%	-50.51%	+21.86%
Max Drawdown (10Y) Largest decline over 10 years	-42.79%	-50.51%	+7.72%
Current Drawdown Current decline from peak	-0.62%	-33.63%	+33.01%
Average Drawdown Average peak-to-trough decline	-30.55%	-12.13%	-18.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	6.74%	-3.67%

Volatility

OBSOX vs. WAAEX - Volatility Comparison

Oberweis Small-Cap Opportunities Fund (OBSOX) has a higher volatility of 8.66% compared to Wasatch Small Cap Growth Fund (WAAEX) at 5.02%. This indicates that OBSOX's price experiences larger fluctuations and is considered to be riskier than WAAEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OBSOX	WAAEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.66%	5.02%	+3.64%
Volatility (6M) Calculated over the trailing 6-month period	20.24%	13.94%	+6.30%
Volatility (1Y) Calculated over the trailing 1-year period	25.47%	19.06%	+6.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.04%	25.41%	-0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.76%	25.09%	-0.33%

OBSOX vs. WAAEX - Expense Ratio Comparison

OBSOX has a 1.25% expense ratio, which is higher than WAAEX's 1.12% expense ratio.

Dividends

OBSOX vs. WAAEX - Dividend Comparison

OBSOX has not paid dividends to shareholders, while WAAEX's dividend yield for the trailing twelve months is around 2.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OBSOX Oberweis Small-Cap Opportunities Fund	0.00%	0.00%	0.80%	0.00%	0.17%	21.88%	4.05%	3.04%	28.22%	6.36%	4.24%	11.91%
WAAEX Wasatch Small Cap Growth Fund	2.01%	1.97%	0.00%	0.00%	0.00%	21.65%	6.25%	14.78%	38.79%	11.70%	8.83%	18.47%

Frequently Asked Questions

Can I hold both OBSOX and WAAEX in my portfolio?

OBSOX and WAAEX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OBSOX or WAAEX?

OBSOX has higher volatility (8.66%) compared to WAAEX (5.02%). In terms of maximum drawdown, OBSOX dropped -80.52% vs WAAEX's -56.48%.

Which has better risk-adjusted returns?

OBSOX currently has the higher Sharpe Ratio (2.39 vs -0.22), 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.