WAESX vs. WMCVX

Last updated Aug 1, 2026

WAESX (Wasatch Emerging Markets Select Fund) and WMCVX (Wasatch Small Cap Value Fund) are both mutual funds - WAESX is a Emerging Markets Equities fund managed by Wasatch, while WMCVX is a Small Cap Blend Equities fund managed by Wasatch. Over the past 10 years, WAESX returned 7.62%/yr vs 10.30%/yr for WMCVX. Their 0.54 correlation means they have sometimes moved together and sometimes differently. WAESX charges 1.32%/yr vs 1.16%/yr for WMCVX.

Performance

WAESX vs. WMCVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wasatch Emerging Markets Select Fund (WAESX) and Wasatch Small Cap Value Fund (WMCVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WAESX achieves a 5.76% return, which is significantly lower than WMCVX's 13.95% return. Over the past 10 years, WAESX has underperformed WMCVX with an annualized return of 7.62%, while WMCVX has yielded a comparatively higher 10.30% annualized return.

WAESX

• 1D: 2.34%
• 1M: -4.75%
• 6M: 5.47%
• YTD: 5.76%
• 1Y: 13.82%
• 3Y*: 7.67%
• 5Y*: -1.37%
• 10Y*: 7.62%
• ALL TIME*: 4.85%

WMCVX

• 1D: 0.39%
• 1M: 0.29%
• 6M: 6.35%
• YTD: 13.95%
• 1Y: 15.27%
• 3Y*: 10.16%
• 5Y*: 5.76%
• 10Y*: 10.30%
• ALL TIME*: 11.11%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
WAESX Wasatch Emerging Markets Select Fund	$0.00	$0.00	$0.00
WMCVX Wasatch Small Cap Value Fund	$0.00	$0.00	$0.00

WAESX vs. WMCVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WAESX Wasatch Emerging Markets Select Fund	5.76%	10.56%	-0.12%	17.52%	-37.38%	21.34%	48.36%	28.05%	-11.50%	37.66%
WMCVX Wasatch Small Cap Value Fund	13.95%	-3.66%	11.65%	31.78%	-21.61%	25.23%	12.52%	23.63%	-9.55%	19.54%

Correlation

The correlation between WAESX and WMCVX is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.52
Correlation (3Y) Balances recent behavior with more history.	0.54
Correlation (5Y) Shows whether the relationship held over a longer period.	0.60
Correlation (10Y) Provides a long-term view across more market conditions.	0.55
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.54

The correlation between WAESX and WMCVX has been stable across timeframes, ranging from 0.52 to 0.60 - a consistent structural relationship.

Return for Risk

WAESX vs. WMCVX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WAESX

WAESX Risk / Return Rank: 22
WAESX Sharpe Ratio Rank: 18
WAESX Sortino Ratio Rank: 20
WAESX Omega Ratio Rank: 19
WAESX Calmar Ratio Rank: 25
WAESX Martin Ratio Rank: 27

WMCVX

WMCVX Risk / Return Rank: 19
WMCVX Sharpe Ratio Rank: 17
WMCVX Sortino Ratio Rank: 20
WMCVX Omega Ratio Rank: 17
WMCVX Calmar Ratio Rank: 21
WMCVX Martin Ratio Rank: 20

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WAESX vs. WMCVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch Emerging Markets Select Fund (WAESX) and Wasatch Small Cap Value Fund (WMCVX). 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	WMCVX	Difference
Sharpe ratio: Return per unit of total volatility	0.69	0.66	+0.03
Sortino ratio: Return per unit of downside risk	1.11	1.11	0.00
Omega ratio: Gain probability vs. loss probability	1.13	1.12	+0.01
Calmar ratio: Return relative to maximum drawdown	1.15	1.02	+0.13
Martin ratio: Return relative to average drawdown	3.80	2.82	+0.98

WAESX vs. WMCVX - Sharpe Ratio Comparison

The current WAESX Sharpe Ratio is 0.69, which is comparable to the WMCVX Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of WAESX and WMCVX, 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

WAESX vs. WMCVX - Drawdown Comparison

The maximum WAESX drawdown since its inception was -45.85%, smaller than the maximum WMCVX drawdown of -65.79%. Use the drawdown chart below to compare losses from any high point for WAESX and WMCVX.

Drawdown Indicators

	WAESX	WMCVX	Difference
Max Drawdown Largest peak-to-trough decline	-45.85%	-65.79%	+19.94%
Max Drawdown (1Y) Largest decline over 1 year	-11.18%	-12.06%	+0.88%
Max Drawdown (3Y) Largest decline over 3 years	-21.75%	-28.75%	+7.00%
Max Drawdown (5Y) Largest decline over 5 years	-45.85%	-32.26%	-13.59%
Max Drawdown (10Y) Largest decline over 10 years	-45.85%	-46.29%	+0.44%
Current Drawdown Current decline from peak	-19.42%	-1.40%	-18.02%
Average Drawdown Average peak-to-trough decline	-16.63%	-10.91%	-5.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	4.35%	-0.97%

Volatility

WAESX vs. WMCVX - Volatility Comparison

Wasatch Emerging Markets Select Fund (WAESX) has a higher volatility of 6.73% compared to Wasatch Small Cap Value Fund (WMCVX) at 4.27%. This indicates that WAESX's price experiences larger fluctuations and is considered to be riskier than WMCVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WAESX	WMCVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.73%	4.27%	+2.46%
Volatility (6M) Calculated over the trailing 6-month period	16.24%	13.38%	+2.86%
Volatility (1Y) Calculated over the trailing 1-year period	18.77%	18.73%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.34%	22.51%	-2.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.86%	23.45%	-3.59%

WAESX vs. WMCVX - Expense Ratio Comparison

WAESX has a 1.32% expense ratio, which is higher than WMCVX's 1.16% expense ratio.

Dividends

WAESX vs. WMCVX - Dividend Comparison

WAESX has not paid dividends to shareholders, while WMCVX's dividend yield for the trailing twelve months is around 5.43%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WAESX Wasatch Emerging Markets Select Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WMCVX Wasatch Small Cap Value Fund	5.43%	6.19%	17.18%	3.67%	2.39%	7.72%	0.00%	1.10%	8.98%	6.63%	0.07%	0.52%

Frequently Asked Questions

Can I hold both WAESX and WMCVX in my portfolio?

WAESX and WMCVX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WAESX or WMCVX?

WAESX has higher volatility (6.73%) compared to WMCVX (4.27%). In terms of maximum drawdown, WAESX dropped -45.85% vs WMCVX's -65.79%.

Which has better risk-adjusted returns?

WAESX currently has the higher Sharpe Ratio (0.69 vs 0.66), 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.