WAFMX vs. GMAQX
WAFMX (Wasatch Frontier Emerging Small Countries Fund) and GMAQX (GMO Emerging Markets ex-China Fund) are both Emerging Markets Equities funds. Over the past 3 years, WAFMX returned 6.74%/yr vs 25.92%/yr for GMAQX. Their 0.68 correlation means they have sometimes moved together and sometimes differently. WAFMX charges 2.15%/yr vs 0.67%/yr for GMAQX.
Performance
WAFMX vs. GMAQX - Performance Comparison
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Returns By Period
In the year-to-date period, WAFMX achieves a 0.28% return, which is significantly lower than GMAQX's 37.39% return.
WAFMX
- 1D
- 1.69%
- 1M
- -3.48%
- 6M
- -4.50%
- YTD
- 0.28%
- 1Y
- -2.70%
- 3Y*
- 6.74%
- 5Y*
- -3.01%
- 10Y*
- 3.37%
- ALL TIME*
- 4.44%
GMAQX
- 1D
- 3.87%
- 1M
- -3.47%
- 6M
- 24.02%
- YTD
- 37.39%
- 1Y
- 60.19%
- 3Y*
- 25.92%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
WAFMX vs. GMAQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WAFMX Wasatch Frontier Emerging Small Countries Fund | 0.28% | 4.35% | 10.67% | 28.16% | -41.11% | -10.24% |
GMAQX GMO Emerging Markets ex-China Fund | 37.39% | 32.09% | 0.62% | 27.41% | -32.38% | 0.47% |
Correlation
The correlation between WAFMX and GMAQX is 0.67, 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. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2021 | 0.68 |
The correlation between WAFMX and GMAQX has been stable across timeframes, ranging from 0.64 to 0.68 - a consistent structural relationship.
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Return for Risk
WAFMX vs. GMAQX — Risk / Return Rank
WAFMX
GMAQX
WAFMX vs. GMAQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Wasatch Frontier Emerging Small Countries Fund (WAFMX) and GMO Emerging Markets ex-China Fund (GMAQX). 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.
| WAFMX | GMAQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.46 | ||
| Sortino ratioReturn per unit of downside risk | -3.21 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.45 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | 3.49 | -3.76 |
| Martin ratioReturn relative to average drawdown | -0.65 | 11.14 | -11.79 |
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Drawdowns
WAFMX vs. GMAQX - Drawdown Comparison
The maximum WAFMX drawdown since its inception was -49.51%, which is greater than GMAQX's maximum drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for WAFMX and GMAQX.
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Drawdown Indicators
| WAFMX | GMAQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.51% | -41.97% | -7.54% |
Max Drawdown (1Y)Largest decline over 1 year | -12.85% | -16.27% | +3.42% |
Max Drawdown (3Y)Largest decline over 3 years | -15.26% | -19.64% | +4.38% |
Max Drawdown (5Y)Largest decline over 5 years | -49.51% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -49.51% | — | — |
Current DrawdownCurrent decline from peak | -21.54% | -13.02% | -8.52% |
Average DrawdownAverage peak-to-trough decline | -16.81% | -16.45% | -0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.33% | 5.09% | +0.24% |
Volatility
WAFMX vs. GMAQX - Volatility Comparison
The current volatility for Wasatch Frontier Emerging Small Countries Fund (WAFMX) is 4.02%, while GMO Emerging Markets ex-China Fund (GMAQX) has a volatility of 9.63%. This indicates that WAFMX experiences smaller price fluctuations and is considered to be less risky than GMAQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WAFMX | GMAQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.02% | 9.63% | -5.61% |
Volatility (6M)Calculated over the trailing 6-month period | 12.72% | 23.87% | -11.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.10% | 25.42% | -10.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.64% | 18.28% | -0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.94% | 18.28% | -1.34% |
WAFMX vs. GMAQX - Expense Ratio Comparison
WAFMX has a 2.15% expense ratio, which is higher than GMAQX's 0.67% expense ratio.
Dividends
WAFMX vs. GMAQX - Dividend Comparison
WAFMX has not paid dividends to shareholders, while GMAQX's dividend yield for the trailing twelve months is around 12.03%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GMAQX GMO Emerging Markets ex-China Fund | 12.03% | 9.43% | 32.28% | 6.76% | 4.94% | 0.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WAFMX Wasatch Frontier Emerging Small Countries Fund | 0.00% | 0.00% | 0.76% | 0.00% | 0.00% | 0.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.17% |
Frequently Asked Questions
WAFMX and GMAQX 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.
GMAQX has higher volatility (9.63%) compared to WAFMX (4.02%). In terms of maximum drawdown, WAFMX dropped -49.51% vs GMAQX's -41.97%.
GMAQX currently has the higher Sharpe Ratio (2.23 vs -0.23), 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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