WAESX vs. WALSX
WAESX (Wasatch Emerging Markets Select Fund) and WALSX (Wasatch Long/Short Alpha Fund) are both mutual funds - WAESX is a Emerging Markets Diversified fund managed by Wasatch, while WALSX is a Long-Short fund managed by Wasatch. Over the past 3 years, WAESX returned 9.50%/yr vs 7.41%/yr for WALSX. A 0.52 correlation means they provide meaningful diversification when combined. WAESX charges 1.32%/yr vs 1.75%/yr for WALSX.
Performance
WAESX vs. WALSX - Performance Comparison
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Returns By Period
In the year-to-date period, WAESX achieves a 9.17% return, which is significantly lower than WALSX's 11.00% return.
WAESX
- 1D
- 0.35%
- 1M
- 3.11%
- 6M
- 6.82%
- YTD
- 9.17%
- 1Y
- 12.88%
- 3Y*
- 9.50%
- 5Y*
- -1.09%
- 10Y*
- 8.21%
WALSX
- 1D
- 0.44%
- 1M
- 4.21%
- 6M
- 6.74%
- YTD
- 11.00%
- 1Y
- 1.34%
- 3Y*
- 7.41%
- 5Y*
- —
- 10Y*
- —
WAESX vs. WALSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WAESX Wasatch Emerging Markets Select Fund | 9.17% | 10.56% | -0.12% | 17.52% | -37.38% | 0.04% |
WALSX Wasatch Long/Short Alpha Fund | 11.00% | -12.79% | 7.24% | 27.75% | -8.38% | 12.20% |
Correlation
The correlation between WAESX and WALSX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021 | 0.52 |
Over the past year, the correlation between WAESX and WALSX has dropped to 0.26 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.
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Return for Risk
WAESX vs. WALSX — Risk / Return Rank
WAESX
WALSX
WAESX vs. WALSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Wasatch Emerging Markets Select Fund (WAESX) 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.
| WAESX | WALSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.02 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 0.06 | +1.02 |
| Martin ratioReturn relative to average drawdown | 3.61 | 0.12 | +3.49 |
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Drawdowns
WAESX vs. WALSX - Drawdown Comparison
The maximum WAESX drawdown since its inception was -45.85%, which is greater than WALSX's maximum drawdown of -25.28%. Use the drawdown chart below to compare losses from any high point for WAESX and WALSX.
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Drawdown Indicators
| WAESX | WALSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.85% | -25.28% | -20.57% |
Max Drawdown (1Y)Largest decline over 1 year | -11.18% | -10.96% | -0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -21.75% | -25.28% | +3.53% |
Max Drawdown (5Y)Largest decline over 5 years | -45.85% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.85% | — | — |
Current DrawdownCurrent decline from peak | -16.83% | -14.77% | -2.06% |
Average DrawdownAverage peak-to-trough decline | -16.62% | -9.67% | -6.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.33% | 5.96% | -2.63% |
Volatility
WAESX vs. WALSX - Volatility Comparison
Wasatch Emerging Markets Select Fund (WAESX) has a higher volatility of 6.92% compared to Wasatch Long/Short Alpha Fund (WALSX) at 5.07%. This indicates that WAESX's price experiences larger fluctuations and is considered to be riskier 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
| WAESX | WALSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.92% | 5.07% | +1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 15.51% | 12.10% | +3.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.07% | 16.24% | +1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.27% | 16.36% | +3.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.78% | 16.36% | +3.42% |
WAESX vs. WALSX - Expense Ratio Comparison
WAESX has a 1.32% expense ratio, which is lower than WALSX's 1.75% expense ratio.
Dividends
WAESX vs. WALSX - Dividend Comparison
Neither WAESX nor WALSX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
WAESX Wasatch Emerging Markets Select Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.42% |
WALSX Wasatch Long/Short Alpha Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.09% | 0.00% |
Frequently Asked Questions
WAESX 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.
WAESX has higher volatility (6.92%) compared to WALSX (5.07%). In terms of maximum drawdown, WAESX dropped -45.85% vs WALSX's -25.28%.
WAESX currently has the higher Sharpe Ratio (0.67 vs 0.04), 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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