RLSIX vs. WALSX
RLSIX (RiverPark Long/Short Opportunity Fund) and WALSX (Wasatch Long/Short Alpha Fund) are both Long-Short funds. Over the past 3 years, RLSIX returned 9.67%/yr vs 7.38%/yr for WALSX. Their 0.56 correlation means they have sometimes moved together and sometimes differently. Both charge a 1.75% expense ratio.
Performance
RLSIX vs. WALSX - Performance Comparison
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Returns By Period
In the year-to-date period, RLSIX achieves a -3.17% return, which is significantly lower than WALSX's 13.61% return.
RLSIX
- 1D
- 1.35%
- 1M
- -1.19%
- 6M
- -1.12%
- YTD
- -3.17%
- 1Y
- 1.49%
- 3Y*
- 9.67%
- 5Y*
- -5.72%
- 10Y*
- 6.42%
- ALL TIME*
- 6.30%
WALSX
- 1D
- -1.62%
- 1M
- 0.94%
- 6M
- 10.20%
- YTD
- 13.61%
- 1Y
- 7.64%
- 3Y*
- 7.38%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
RLSIX vs. WALSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
RLSIX RiverPark Long/Short Opportunity Fund | -3.17% | 8.57% | 16.06% | 43.85% | -53.89% | -4.93% |
WALSX Wasatch Long/Short Alpha Fund | 13.61% | -12.79% | 7.24% | 27.75% | -8.38% | 12.20% |
Correlation
The correlation between RLSIX and WALSX is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.42 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021 | 0.56 |
Over the past year, the correlation between RLSIX and WALSX has dropped to 0.26 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.
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Return for Risk
RLSIX vs. WALSX — Risk / Return Rank
RLSIX
WALSX
RLSIX vs. WALSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RiverPark Long/Short Opportunity Fund (RLSIX) 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.
| RLSIX | WALSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.08 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 0.64 | -0.65 |
| Martin ratioReturn relative to average drawdown | -0.05 | 1.29 | -1.34 |
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Drawdowns
RLSIX vs. WALSX - Drawdown Comparison
The maximum RLSIX drawdown since its inception was -60.82%, which is greater than WALSX's maximum drawdown of -25.28%. Use the drawdown chart below to compare losses from any high point for RLSIX and WALSX.
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Drawdown Indicators
| RLSIX | WALSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.82% | -25.28% | -35.54% |
Max Drawdown (1Y)Largest decline over 1 year | -14.56% | -10.76% | -3.80% |
Max Drawdown (3Y)Largest decline over 3 years | -17.62% | -25.28% | +7.66% |
Max Drawdown (5Y)Largest decline over 5 years | -60.82% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -60.82% | — | — |
Current DrawdownCurrent decline from peak | -28.20% | -12.77% | -15.43% |
Average DrawdownAverage peak-to-trough decline | -15.22% | -9.71% | -5.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.42% | 5.31% | +0.11% |
Volatility
RLSIX vs. WALSX - Volatility Comparison
The current volatility for RiverPark Long/Short Opportunity Fund (RLSIX) is 3.43%, while Wasatch Long/Short Alpha Fund (WALSX) has a volatility of 5.12%. This indicates that RLSIX 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.
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Volatility by Period
| RLSIX | WALSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | 5.12% | -1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 10.31% | 12.35% | -2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.58% | 16.28% | -3.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.95% | 16.38% | +8.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.56% | 16.38% | +5.18% |
RLSIX vs. WALSX - Expense Ratio Comparison
Both RLSIX and WALSX have an expense ratio of 1.75%.
Dividends
RLSIX vs. WALSX - Dividend Comparison
Neither RLSIX nor WALSX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
RLSIX RiverPark Long/Short Opportunity Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 11.94% | 11.66% | 1.26% |
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% |
Frequently Asked Questions
RLSIX and WALSX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WALSX has higher volatility (5.12%) compared to RLSIX (3.43%). In terms of maximum drawdown, RLSIX dropped -60.82% vs WALSX's -25.28%.
WALSX currently has the higher Sharpe Ratio (0.42 vs -0.02), 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.
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