WAAEX vs. NBGNX

Last updated Jun 5, 2026

WAAEX (Wasatch Small Cap Growth Fund) and NBGNX (Neuberger Berman Genesis Fund) are both Small Cap Growth Equities funds. Over the past 10 years, WAAEX returned 8.74%/yr vs 8.93%/yr for NBGNX. Their correlation of 0.83 suggests significant overlap in exposure. WAAEX charges 1.12%/yr vs 0.99%/yr for NBGNX.

Performance

WAAEX vs. NBGNX - Performance Comparison

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

Returns By Period

In the year-to-date period, WAAEX achieves a -2.01% return, which is significantly lower than NBGNX's 5.92% return. Both investments have delivered pretty close results over the past 10 years, with WAAEX having a 8.74% annualized return and NBGNX not far ahead at 8.93%.

WAAEX

• 1D: -0.57%
• 1M: -0.60%
• YTD: -2.01%
• 6M: -4.17%
• 1Y: -6.28%
• 3Y*: 5.36%
• 5Y*: -5.30%
• 10Y*: 8.74%

NBGNX

• 1D: -0.54%
• 1M: -0.91%
• YTD: 5.92%
• 6M: 3.69%
• 1Y: 6.96%
• 3Y*: 6.13%
• 5Y*: 2.38%
• 10Y*: 8.93%

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

WAAEX vs. NBGNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WAAEX Wasatch Small Cap Growth Fund	-2.01%	-8.78%	15.50%	21.24%	-40.26%	7.68%	54.65%	40.29%	2.42%	21.72%
NBGNX Neuberger Berman Genesis Fund	5.92%	-4.70%	9.04%	15.57%	-19.49%	18.07%	24.86%	29.47%	-6.91%	15.83%

Correlation

The correlation between WAAEX and NBGNX is 0.82, 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	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Sep 28, 1988	0.83

The correlation between WAAEX and NBGNX has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

Return for Risk

WAAEX vs. NBGNX — Risk / Return Rank

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

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: 1
WAAEX Martin Ratio Rank: 1

NBGNX

NBGNX Risk / Return Rank: 6
NBGNX Sharpe Ratio Rank: 6
NBGNX Sortino Ratio Rank: 6
NBGNX Omega Ratio Rank: 5
NBGNX Calmar Ratio Rank: 7
NBGNX Martin Ratio Rank: 7

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. NBGNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch Small Cap Growth Fund (WAAEX) and Neuberger Berman Genesis Fund (NBGNX). 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	NBGNX	Difference
Sharpe ratio: Return per unit of total volatility	-0.29	0.43	-0.72
Sortino ratio: Return per unit of downside risk	-0.29	0.76	-1.05
Omega ratio: Gain probability vs. loss probability	0.97	1.08	-0.12
Calmar ratio: Return relative to maximum drawdown	-0.33	0.64	-0.97
Martin ratio: Return relative to average drawdown	-0.81	1.71	-2.52
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. NBGNX - Sharpe Ratio Comparison

The current WAAEX Sharpe Ratio is -0.29, which is lower than the NBGNX Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of WAAEX and NBGNX, 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

	WAAEX	NBGNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.29	0.43	-0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.21	0.12	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.44	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.65	-0.16

Drawdowns

WAAEX vs. NBGNX - Drawdown Comparison

The maximum WAAEX drawdown since its inception was -56.48%, which is greater than NBGNX's maximum drawdown of -51.75%. Use the drawdown chart below to compare losses from any high point for WAAEX and NBGNX.

Drawdown Indicators

	WAAEX	NBGNX	Difference
Max Drawdown Largest peak-to-trough decline	-56.48%	-51.75%	-4.73%
Max Drawdown (1Y) Largest decline over 1 year	-16.76%	-10.77%	-5.99%
Max Drawdown (3Y) Largest decline over 3 years	-27.68%	-27.51%	-0.17%
Max Drawdown (5Y) Largest decline over 5 years	-50.51%	-28.33%	-22.18%
Max Drawdown (10Y) Largest decline over 10 years	-50.51%	-34.53%	-15.98%
Current Drawdown Current decline from peak	-33.70%	-9.78%	-23.92%
Average Drawdown Average peak-to-trough decline	-12.13%	-7.15%	-4.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.78%	4.00%	+2.78%

Volatility

WAAEX vs. NBGNX - Volatility Comparison

Wasatch Small Cap Growth Fund (WAAEX) has a higher volatility of 5.03% compared to Neuberger Berman Genesis Fund (NBGNX) at 4.00%. This indicates that WAAEX's price experiences larger fluctuations and is considered to be riskier than NBGNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WAAEX	NBGNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.03%	4.00%	+1.03%
Volatility (6M) Calculated over the trailing 6-month period	13.92%	11.33%	+2.59%
Volatility (1Y) Calculated over the trailing 1-year period	19.03%	16.05%	+2.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.41%	19.66%	+5.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.09%	20.22%	+4.87%

WAAEX vs. NBGNX - Expense Ratio Comparison

WAAEX has a 1.12% expense ratio, which is higher than NBGNX's 0.99% expense ratio.

Dividends

WAAEX vs. NBGNX - Dividend Comparison

WAAEX's dividend yield for the trailing twelve months is around 2.01%, less than NBGNX's 15.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NBGNX Neuberger Berman Genesis Fund	15.44%	16.36%	2.15%	3.03%	11.05%	10.92%	3.84%	5.82%	12.24%	13.89%	11.21%	18.52%
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 WAAEX and NBGNX in my portfolio?

WAAEX and NBGNX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WAAEX or NBGNX?

WAAEX has higher volatility (5.03%) compared to NBGNX (4.00%). In terms of maximum drawdown, WAAEX dropped -56.48% vs NBGNX's -51.75%.

Which has better risk-adjusted returns?

NBGNX currently has the higher Sharpe Ratio (0.43 vs -0.29), 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.