WAEMX vs. GTDDX

Last updated Jun 25, 2026

WAEMX (Wasatch Emerging Markets Small Cap Fund) and GTDDX (Invesco EQV Emerging Markets All Cap Fd) are both Emerging Markets Diversified funds. Over the past 10 years, WAEMX returned 8.64%/yr vs 9.92%/yr for GTDDX. A 0.74 correlation means they provide meaningful diversification when combined. WAEMX charges 1.91%/yr vs 1.39%/yr for GTDDX.

Performance

WAEMX vs. GTDDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wasatch Emerging Markets Small Cap Fund (WAEMX) and Invesco EQV Emerging Markets All Cap Fd (GTDDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WAEMX achieves a 22.94% return, which is significantly lower than GTDDX's 40.89% return. Over the past 10 years, WAEMX has underperformed GTDDX with an annualized return of 8.64%, while GTDDX has yielded a comparatively higher 9.92% annualized return.

WAEMX

• 1D: -3.24%
• 1M: -0.95%
• YTD: 22.94%
• 6M: 22.22%
• 1Y: 29.67%
• 3Y*: 12.34%
• 5Y*: 1.27%
• 10Y*: 8.64%

GTDDX

• 1D: -5.12%
• 1M: 5.14%
• YTD: 40.89%
• 6M: 43.06%
• 1Y: 64.78%
• 3Y*: 21.88%
• 5Y*: 7.73%
• 10Y*: 9.92%

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

WAEMX vs. GTDDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WAEMX Wasatch Emerging Markets Small Cap Fund	22.94%	5.85%	-2.21%	21.20%	-38.76%	30.16%	32.79%	27.45%	-18.97%	38.20%
GTDDX Invesco EQV Emerging Markets All Cap Fd	40.89%	29.88%	-0.66%	8.82%	-17.70%	-7.00%	17.19%	29.99%	-18.77%	30.34%

Correlation

The correlation between WAEMX and GTDDX is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Sep 28, 2007	0.74

The correlation between WAEMX and GTDDX has been stable across timeframes, ranging from 0.64 to 0.74 - a consistent structural relationship.

Return for Risk

WAEMX vs. GTDDX — Risk / Return Rank

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

WAEMX

WAEMX Risk / Return Rank: 59
WAEMX Sharpe Ratio Rank: 45
WAEMX Sortino Ratio Rank: 47
WAEMX Omega Ratio Rank: 43
WAEMX Calmar Ratio Rank: 89
WAEMX Martin Ratio Rank: 69

GTDDX

GTDDX Risk / Return Rank: 92
GTDDX Sharpe Ratio Rank: 97
GTDDX Sortino Ratio Rank: 87
GTDDX Omega Ratio Rank: 89
GTDDX Calmar Ratio Rank: 94
GTDDX Martin Ratio Rank: 94

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.

WAEMX vs. GTDDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch Emerging Markets Small Cap Fund (WAEMX) and Invesco EQV Emerging Markets All Cap Fd (GTDDX). 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.

	WAEMX	GTDDX	Difference
Sharpe ratio: Return per unit of total volatility	1.76	3.16	-1.40
Sortino ratio: Return per unit of downside risk	2.55	3.76	-1.21
Omega ratio: Gain probability vs. loss probability	1.32	1.58	-0.26
Calmar ratio: Return relative to maximum drawdown	4.14	4.82	-0.68
Martin ratio: Return relative to average drawdown	12.13	18.10	-5.97

WAEMX vs. GTDDX - Sharpe Ratio Comparison

The current WAEMX Sharpe Ratio is 1.76, which is lower than the GTDDX Sharpe Ratio of 3.16. The chart below compares the historical Sharpe Ratios of WAEMX and GTDDX, 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

WAEMX vs. GTDDX - Drawdown Comparison

The maximum WAEMX drawdown since its inception was -66.35%, which is greater than GTDDX's maximum drawdown of -62.89%. Use the drawdown chart below to compare losses from any high point for WAEMX and GTDDX.

Drawdown Indicators

	WAEMX	GTDDX	Difference
Max Drawdown Largest peak-to-trough decline	-66.35%	-62.89%	-3.46%
Max Drawdown (1Y) Largest decline over 1 year	-7.89%	-14.49%	+6.60%
Max Drawdown (3Y) Largest decline over 3 years	-25.56%	-16.08%	-9.48%
Max Drawdown (5Y) Largest decline over 5 years	-44.88%	-36.93%	-7.95%
Max Drawdown (10Y) Largest decline over 10 years	-44.88%	-39.58%	-5.30%
Current Drawdown Current decline from peak	-9.05%	-6.05%	-3.00%
Average Drawdown Average peak-to-trough decline	-16.78%	-18.72%	+1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	3.84%	-1.15%

Volatility

WAEMX vs. GTDDX - Volatility Comparison

The current volatility for Wasatch Emerging Markets Small Cap Fund (WAEMX) is 8.04%, while Invesco EQV Emerging Markets All Cap Fd (GTDDX) has a volatility of 12.73%. This indicates that WAEMX experiences smaller price fluctuations and is considered to be less risky than GTDDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WAEMX	GTDDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.04%	12.73%	-4.69%
Volatility (6M) Calculated over the trailing 6-month period	15.83%	20.03%	-4.20%
Volatility (1Y) Calculated over the trailing 1-year period	18.58%	22.11%	-3.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.98%	17.09%	+0.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.27%	17.19%	+1.08%

WAEMX vs. GTDDX - Expense Ratio Comparison

WAEMX has a 1.91% expense ratio, which is higher than GTDDX's 1.39% expense ratio.

Dividends

WAEMX vs. GTDDX - Dividend Comparison

WAEMX's dividend yield for the trailing twelve months is around 57.26%, more than GTDDX's 14.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GTDDX Invesco EQV Emerging Markets All Cap Fd	14.99%	21.13%	1.16%	1.51%	1.17%	4.46%	5.05%	1.49%	1.53%	0.71%	0.86%	0.99%
WAEMX Wasatch Emerging Markets Small Cap Fund	57.26%	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 WAEMX and GTDDX in my portfolio?

WAEMX and GTDDX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WAEMX or GTDDX?

GTDDX has higher volatility (12.73%) compared to WAEMX (8.04%). In terms of maximum drawdown, WAEMX dropped -66.35% vs GTDDX's -62.89%.

Which has better risk-adjusted returns?

GTDDX currently has the higher Sharpe Ratio (3.16 vs 1.76), 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.