WAAEX vs. INDEX

Last updated Apr 1, 2026

Compare and contrast key facts about Wasatch Small Cap Growth Fund (WAAEX) and Index Funds S&P 500 Equal Weight (INDEX).

WAAEX is managed by Wasatch. It was launched on Dec 8, 1986. INDEX is managed by Fidelity. It was launched on Mar 9, 2017.

Performance

WAAEX vs. INDEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wasatch Small Cap Growth Fund (WAAEX) and Index Funds S&P 500 Equal Weight (INDEX). The values are adjusted to include any dividend payments, if applicable.

WAAEX vs. INDEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WAAEX Wasatch Small Cap Growth Fund	-10.54%	-8.78%	15.50%	21.24%	-40.26%	7.68%	54.65%	40.29%	2.42%	21.72%
INDEX Index Funds S&P 500 Equal Weight	-7.15%	17.77%	24.73%	10.58%	-11.84%	29.10%	12.75%	28.98%	-7.83%	18.70%

Returns By Period

In the year-to-date period, WAAEX achieves a -10.54% return, which is significantly lower than INDEX's -7.15% return. Over the past 10 years, WAAEX has underperformed INDEX with an annualized return of 8.05%, while INDEX has yielded a comparatively higher 11.36% annualized return.

WAAEX

• 1D: -1.18%
• 1M: -9.72%
• YTD: -10.54%
• 6M: -12.42%
• 1Y: -5.69%
• 3Y*: 2.07%
• 5Y*: -6.72%
• 10Y*: 8.05%

INDEX

• 1D: -0.40%
• 1M: -7.68%
• YTD: -7.15%
• 6M: -4.57%
• 1Y: 14.28%
• 3Y*: 13.53%
• 5Y*: 9.06%
• 10Y*: 11.36%

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

WAAEX vs. INDEX - Expense Ratio Comparison

WAAEX has a 1.12% expense ratio, which is higher than INDEX's 0.25% expense ratio.

WAAEX

Wasatch Small Cap Growth Fund

INDEX

Index Funds S&P 500 Equal Weight

Return for Risk

WAAEX vs. INDEX — Risk / Return Rank

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

WAAEX

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

INDEX

INDEX Risk / Return Rank: 46
INDEX Sharpe Ratio Rank: 41
INDEX Sortino Ratio Rank: 44
INDEX Omega Ratio Rank: 49
INDEX Calmar Ratio Rank: 40
INDEX Martin Ratio Rank: 53

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.

WAAEX vs. INDEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch Small Cap Growth Fund (WAAEX) and Index Funds S&P 500 Equal Weight (INDEX). 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.

	WAAEX	INDEX	Difference
Sharpe ratio Return per unit of total volatility	-0.25	0.83	-1.08
Sortino ratio Return per unit of downside risk	-0.20	1.29	-1.49
Omega ratio Gain probability vs. loss probability	0.98	1.20	-0.22
Calmar ratio Return relative to maximum drawdown	-0.46	1.05	-1.51
Martin ratio Return relative to average drawdown	-1.38	5.10	-6.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WAAEX vs. INDEX - Sharpe Ratio Comparison

The current WAAEX Sharpe Ratio is -0.25, which is lower than the INDEX Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of WAAEX and INDEX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WAAEX	INDEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.25	0.83	-1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	0.55	-0.81
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	0.61	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.54	-0.06

Correlation

The correlation between WAAEX and INDEX is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

WAAEX vs. INDEX - Dividend Comparison

WAAEX's dividend yield for the trailing twelve months is around 2.20%, more than INDEX's 1.12% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WAAEX Wasatch Small Cap Growth Fund	2.20%	1.97%	0.00%	0.00%	0.00%	21.65%	6.25%	14.78%	38.79%	11.70%	8.83%	18.47%
INDEX Index Funds S&P 500 Equal Weight	1.12%	1.04%	1.97%	1.56%	3.25%	1.81%	1.53%	1.61%	3.09%	1.15%	0.00%	0.00%

Drawdowns

WAAEX vs. INDEX - Drawdown Comparison

The maximum WAAEX drawdown since its inception was -56.48%, which is greater than INDEX's maximum drawdown of -38.82%. Use the drawdown chart below to compare losses from any high point for WAAEX and INDEX.

Drawdown Indicators

	WAAEX	INDEX	Difference
Max Drawdown Largest peak-to-trough decline	-56.48%	-38.82%	-17.66%
Max Drawdown (1Y) Largest decline over 1 year	-16.76%	-12.10%	-4.66%
Max Drawdown (5Y) Largest decline over 5 years	-50.51%	-21.52%	-28.99%
Max Drawdown (10Y) Largest decline over 10 years	-50.51%	-38.82%	-11.69%
Current Drawdown Current decline from peak	-39.47%	-8.93%	-30.54%
Average Drawdown Average peak-to-trough decline	-12.03%	-4.69%	-7.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.60%	2.49%	+3.11%

Volatility

WAAEX vs. INDEX - Volatility Comparison

Wasatch Small Cap Growth Fund (WAAEX) has a higher volatility of 6.55% compared to Index Funds S&P 500 Equal Weight (INDEX) at 4.25%. This indicates that WAAEX's price experiences larger fluctuations and is considered to be riskier than INDEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WAAEX	INDEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.55%	4.25%	+2.30%
Volatility (6M) Calculated over the trailing 6-month period	13.40%	9.02%	+4.38%
Volatility (1Y) Calculated over the trailing 1-year period	23.46%	18.09%	+5.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.37%	16.71%	+8.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.01%	18.62%	+6.39%