PEFIX vs. WAEMX

Last updated Jun 4, 2026

PEFIX (PIMCO RAE PLUS EMG Fund) and WAEMX (Wasatch Emerging Markets Small Cap Fund) are both Emerging Markets Diversified funds. Over the past 10 years, PEFIX returned 13.24%/yr vs 8.47%/yr for WAEMX. A 0.66 correlation means they provide meaningful diversification when combined. PEFIX charges 1.10%/yr vs 1.91%/yr for WAEMX.

Performance

PEFIX vs. WAEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAE PLUS EMG Fund (PEFIX) and Wasatch Emerging Markets Small Cap Fund (WAEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PEFIX having a 24.22% return and WAEMX slightly lower at 24.12%. Over the past 10 years, PEFIX has outperformed WAEMX with an annualized return of 13.24%, while WAEMX has yielded a comparatively lower 8.47% annualized return.

PEFIX

• 1D: 0.98%
• 1M: 7.52%
• YTD: 24.22%
• 6M: 24.22%
• 1Y: 48.19%
• 3Y*: 23.82%
• 5Y*: 10.12%
• 10Y*: 13.24%

WAEMX

• 1D: -0.47%
• 1M: -0.94%
• YTD: 24.12%
• 6M: 28.17%
• 1Y: 35.26%
• 3Y*: 12.28%
• 5Y*: 1.93%
• 10Y*: 8.47%

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

PEFIX vs. WAEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEFIX PIMCO RAE PLUS EMG Fund	24.22%	27.34%	7.08%	20.00%	-16.85%	20.69%	5.27%	14.80%	-13.51%	31.80%
WAEMX Wasatch Emerging Markets Small Cap Fund	24.12%	5.85%	-2.21%	21.20%	-38.76%	30.16%	32.79%	27.45%	-18.97%	38.20%

Correlation

The correlation between PEFIX and WAEMX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Dec 1, 2008	0.66

Over the past year, the correlation between PEFIX and WAEMX has dropped to 0.45 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

Return for Risk

PEFIX vs. WAEMX — Risk / Return Rank

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

PEFIX

PEFIX Risk / Return Rank: 89
PEFIX Sharpe Ratio Rank: 95
PEFIX Sortino Ratio Rank: 90
PEFIX Omega Ratio Rank: 87
PEFIX Calmar Ratio Rank: 87
PEFIX Martin Ratio Rank: 84

WAEMX

WAEMX Risk / Return Rank: 61
WAEMX Sharpe Ratio Rank: 48
WAEMX Sortino Ratio Rank: 50
WAEMX Omega Ratio Rank: 44
WAEMX Calmar Ratio Rank: 89
WAEMX Martin Ratio Rank: 73

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.

PEFIX vs. WAEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE PLUS EMG Fund (PEFIX) and Wasatch Emerging Markets Small Cap Fund (WAEMX). 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.

	PEFIX	WAEMX	Difference
Sharpe ratio: Return per unit of total volatility	3.38	2.03	+1.35
Sortino ratio: Return per unit of downside risk	4.37	2.98	+1.38
Omega ratio: Gain probability vs. loss probability	1.61	1.36	+0.25
Calmar ratio: Return relative to maximum drawdown	4.19	4.49	-0.30
Martin ratio: Return relative to average drawdown	15.98	13.90	+2.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEFIX vs. WAEMX - Sharpe Ratio Comparison

The current PEFIX Sharpe Ratio is 3.38, which is higher than the WAEMX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of PEFIX and WAEMX, 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

	PEFIX	WAEMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.38	2.03	+1.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.11	+0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.47	+0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.30	+0.36

Drawdowns

PEFIX vs. WAEMX - Drawdown Comparison

The maximum PEFIX drawdown since its inception was -51.44%, smaller than the maximum WAEMX drawdown of -66.35%. Use the drawdown chart below to compare losses from any high point for PEFIX and WAEMX.

Drawdown Indicators

	PEFIX	WAEMX	Difference
Max Drawdown Largest peak-to-trough decline	-51.44%	-66.35%	+14.91%
Max Drawdown (1Y) Largest decline over 1 year	-11.86%	-7.89%	-3.97%
Max Drawdown (3Y) Largest decline over 3 years	-20.78%	-25.56%	+4.78%
Max Drawdown (5Y) Largest decline over 5 years	-32.17%	-44.88%	+12.71%
Max Drawdown (10Y) Largest decline over 10 years	-51.44%	-44.88%	-6.56%
Current Drawdown Current decline from peak	0.00%	-8.18%	+8.18%
Average Drawdown Average peak-to-trough decline	-11.94%	-16.81%	+4.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	2.54%	+0.56%

Volatility

PEFIX vs. WAEMX - Volatility Comparison

The current volatility for PIMCO RAE PLUS EMG Fund (PEFIX) is 5.04%, while Wasatch Emerging Markets Small Cap Fund (WAEMX) has a volatility of 5.82%. This indicates that PEFIX experiences smaller price fluctuations and is considered to be less risky than WAEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEFIX	WAEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	5.82%	-0.78%
Volatility (6M) Calculated over the trailing 6-month period	12.40%	14.64%	-2.24%
Volatility (1Y) Calculated over the trailing 1-year period	14.72%	17.48%	-2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.63%	17.73%	-2.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.85%	18.19%	-1.34%

PEFIX vs. WAEMX - Expense Ratio Comparison

PEFIX has a 1.10% expense ratio, which is lower than WAEMX's 1.91% expense ratio.

Dividends

PEFIX vs. WAEMX - Dividend Comparison

PEFIX's dividend yield for the trailing twelve months is around 3.62%, less than WAEMX's 56.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEFIX PIMCO RAE PLUS EMG Fund	3.62%	3.73%	9.33%	2.11%	18.29%	46.03%	8.19%	0.38%	4.76%	7.08%	4.48%	0.00%
WAEMX Wasatch Emerging Markets Small Cap Fund	56.72%	70.40%	6.49%	0.00%	3.32%	6.03%	7.15%	5.82%	12.81%	0.00%	0.00%	0.02%

Frequently Asked Questions

Can I hold both PEFIX and WAEMX in my portfolio?

PEFIX and WAEMX 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, PEFIX or WAEMX?

WAEMX has higher volatility (5.82%) compared to PEFIX (5.04%). In terms of maximum drawdown, PEFIX dropped -51.44% vs WAEMX's -66.35%.

Which has better risk-adjusted returns?

PEFIX currently has the higher Sharpe Ratio (3.38 vs 2.03), 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.