PVIVX vs. WMICX

Last updated Jun 23, 2026

PVIVX (Paradigm Micro-cap Fund) and WMICX (Wasatch Micro Cap Fund) are both mutual funds - PVIVX is a Small Cap Blend Equities fund managed by Paradigm Funds, while WMICX is a Small Cap Growth Equities fund managed by Wasatch. Over the past 10 years, PVIVX returned 15.15%/yr vs 14.85%/yr for WMICX. Their correlation of 0.86 suggests significant overlap in exposure. PVIVX charges 1.25%/yr vs 1.63%/yr for WMICX.

Performance

PVIVX vs. WMICX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Paradigm Micro-cap Fund (PVIVX) and Wasatch Micro Cap Fund (WMICX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PVIVX achieves a 37.88% return, which is significantly higher than WMICX's 18.22% return. Both investments have delivered pretty close results over the past 10 years, with PVIVX having a 15.15% annualized return and WMICX not far behind at 14.85%.

PVIVX

• 1D: 3.09%
• 1M: 9.36%
• YTD: 37.88%
• 6M: 34.96%
• 1Y: 53.90%
• 3Y*: 15.79%
• 5Y*: 8.09%
• 10Y*: 15.15%

WMICX

• 1D: 2.40%
• 1M: 6.55%
• YTD: 18.22%
• 6M: 15.30%
• 1Y: 35.94%
• 3Y*: 16.04%
• 5Y*: 0.38%
• 10Y*: 14.85%

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

PVIVX vs. WMICX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PVIVX Paradigm Micro-cap Fund	37.88%	-4.81%	13.48%	17.89%	-20.62%	27.94%	46.96%	22.38%	-10.88%	15.82%
WMICX Wasatch Micro Cap Fund	18.22%	4.84%	20.91%	22.58%	-40.64%	4.51%	64.84%	42.31%	1.73%	36.17%

Correlation

The correlation between PVIVX and WMICX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jan 8, 2008	0.86

The correlation between PVIVX and WMICX has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.

Return for Risk

PVIVX vs. WMICX — Risk / Return Rank

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

PVIVX

PVIVX Risk / Return Rank: 59
PVIVX Sharpe Ratio Rank: 57
PVIVX Sortino Ratio Rank: 52
PVIVX Omega Ratio Rank: 46
PVIVX Calmar Ratio Rank: 82
PVIVX Martin Ratio Rank: 60

WMICX

WMICX Risk / Return Rank: 44
WMICX Sharpe Ratio Rank: 45
WMICX Sortino Ratio Rank: 46
WMICX Omega Ratio Rank: 37
WMICX Calmar Ratio Rank: 48
WMICX Martin Ratio Rank: 44

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.

PVIVX vs. WMICX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Paradigm Micro-cap Fund (PVIVX) and Wasatch Micro Cap Fund (WMICX). 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.

	PVIVX	WMICX	Difference
Sharpe ratio: Return per unit of total volatility	2.05	1.83	+0.23
Sortino ratio: Return per unit of downside risk	2.79	2.64	+0.15
Omega ratio: Gain probability vs. loss probability	1.34	1.30	+0.04
Calmar ratio: Return relative to maximum drawdown	3.55	2.52	+1.03
Martin ratio: Return relative to average drawdown	11.26	8.72	+2.54

PVIVX vs. WMICX - Sharpe Ratio Comparison

The current PVIVX Sharpe Ratio is 2.05, which is comparable to the WMICX Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of PVIVX and WMICX, 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

PVIVX vs. WMICX - Drawdown Comparison

The maximum PVIVX drawdown since its inception was -95.67%, which is greater than WMICX's maximum drawdown of -65.21%. Use the drawdown chart below to compare losses from any high point for PVIVX and WMICX.

Drawdown Indicators

	PVIVX	WMICX	Difference
Max Drawdown Largest peak-to-trough decline	-95.67%	-65.21%	-30.46%
Max Drawdown (1Y) Largest decline over 1 year	-14.84%	-14.32%	-0.52%
Max Drawdown (3Y) Largest decline over 3 years	-95.67%	-29.44%	-66.23%
Max Drawdown (5Y) Largest decline over 5 years	-95.67%	-48.70%	-46.97%
Max Drawdown (10Y) Largest decline over 10 years	-95.67%	-50.96%	-44.71%
Current Drawdown Current decline from peak	-92.43%	-6.91%	-85.52%
Average Drawdown Average peak-to-trough decline	-17.08%	-13.33%	-3.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.68%	4.13%	+0.55%

Volatility

PVIVX vs. WMICX - Volatility Comparison

Paradigm Micro-cap Fund (PVIVX) has a higher volatility of 8.95% compared to Wasatch Micro Cap Fund (WMICX) at 6.54%. This indicates that PVIVX's price experiences larger fluctuations and is considered to be riskier than WMICX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PVIVX	WMICX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.95%	6.54%	+2.41%
Volatility (6M) Calculated over the trailing 6-month period	18.42%	14.47%	+3.95%
Volatility (1Y) Calculated over the trailing 1-year period	25.69%	19.77%	+5.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	887.36%	24.55%	+862.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	627.54%	24.41%	+603.13%

PVIVX vs. WMICX - Expense Ratio Comparison

PVIVX has a 1.25% expense ratio, which is lower than WMICX's 1.63% expense ratio.

Dividends

PVIVX vs. WMICX - Dividend Comparison

PVIVX's dividend yield for the trailing twelve months is around 11.55%, while WMICX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PVIVX Paradigm Micro-cap Fund	11.55%	15.93%	6.40%	0.00%	0.00%	1.11%	5.25%	0.01%	14.09%	6.88%	3.61%	1.32%
WMICX Wasatch Micro Cap Fund	0.00%	0.00%	0.00%	0.00%	0.00%	30.82%	5.68%	11.40%	29.75%	15.30%	9.30%	16.58%

Frequently Asked Questions

Can I hold both PVIVX and WMICX in my portfolio?

PVIVX and WMICX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PVIVX or WMICX?

PVIVX has higher volatility (8.95%) compared to WMICX (6.54%). In terms of maximum drawdown, PVIVX dropped -95.67% vs WMICX's -65.21%.

Which has better risk-adjusted returns?

PVIVX currently has the higher Sharpe Ratio (2.05 vs 1.83), 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.