WAGOX vs. WAAEX

Last updated Jun 3, 2026

WAGOX (Wasatch Global Opportunities Fund) and WAAEX (Wasatch Small Cap Growth Fund) are both mutual funds - WAGOX is a Global Equities fund managed by Wasatch, while WAAEX is a Small Cap Growth Equities fund managed by Wasatch. Over the past 10 years, WAGOX returned 9.45%/yr vs 8.75%/yr for WAAEX. Their correlation of 0.89 suggests significant overlap in exposure. WAGOX charges 1.50%/yr vs 1.12%/yr for WAAEX.

Performance

WAGOX vs. WAAEX - Performance Comparison

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

Returns By Period

In the year-to-date period, WAGOX achieves a 4.53% return, which is significantly higher than WAAEX's -1.90% return. Over the past 10 years, WAGOX has outperformed WAAEX with an annualized return of 9.45%, while WAAEX has yielded a comparatively lower 8.75% annualized return.

WAGOX

• 1D: 0.26%
• 1M: 2.35%
• YTD: 4.53%
• 6M: 2.61%
• 1Y: 1.15%
• 3Y*: 6.84%
• 5Y*: -0.60%
• 10Y*: 9.45%

WAAEX

• 1D: 0.27%
• 1M: 0.41%
• YTD: -1.90%
• 6M: -3.47%
• 1Y: -4.09%
• 3Y*: 5.40%
• 5Y*: -5.35%
• 10Y*: 8.75%

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

WAGOX vs. WAAEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WAGOX Wasatch Global Opportunities Fund	4.53%	-4.58%	6.60%	25.57%	-35.02%	21.43%	42.27%	33.11%	-7.41%	37.73%
WAAEX Wasatch Small Cap Growth Fund	-1.90%	-8.78%	15.50%	21.24%	-40.26%	7.68%	54.65%	40.29%	2.42%	21.72%

Correlation

The correlation between WAGOX and WAAEX is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Nov 18, 2008	0.89

The correlation between WAGOX and WAAEX has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

Return for Risk

WAGOX vs. WAAEX — Risk / Return Rank

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

WAGOX

WAGOX Risk / Return Rank: 3
WAGOX Sharpe Ratio Rank: 3
WAGOX Sortino Ratio Rank: 3
WAGOX Omega Ratio Rank: 3
WAGOX Calmar Ratio Rank: 3
WAGOX Martin Ratio Rank: 3

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: 2
WAAEX Martin Ratio Rank: 1

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.

WAGOX vs. WAAEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch Global Opportunities Fund (WAGOX) and Wasatch Small Cap Growth Fund (WAAEX). 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.

	WAGOX	WAAEX	Difference
Sharpe ratio Return per unit of total volatility	0.12	-0.22	+0.34
Sortino ratio Return per unit of downside risk	0.29	-0.19	+0.47
Omega ratio Gain probability vs. loss probability	1.03	0.98	+0.05
Calmar ratio Return relative to maximum drawdown	0.10	-0.25	+0.35
Martin ratio Return relative to average drawdown	0.23	-0.62	+0.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WAGOX vs. WAAEX - Sharpe Ratio Comparison

The current WAGOX Sharpe Ratio is 0.12, which is higher than the WAAEX Sharpe Ratio of -0.22. The chart below compares the historical Sharpe Ratios of WAGOX and WAAEX, 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

	WAGOX	WAAEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	-0.22	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	-0.21	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.35	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.49	+0.18

Drawdowns

WAGOX vs. WAAEX - Drawdown Comparison

The maximum WAGOX drawdown since its inception was -44.05%, smaller than the maximum WAAEX drawdown of -56.48%. Use the drawdown chart below to compare losses from any high point for WAGOX and WAAEX.

Drawdown Indicators

	WAGOX	WAAEX	Difference
Max Drawdown Largest peak-to-trough decline	-44.05%	-56.48%	+12.43%
Max Drawdown (1Y) Largest decline over 1 year	-17.09%	-16.76%	-0.33%
Max Drawdown (3Y) Largest decline over 3 years	-22.43%	-27.68%	+5.25%
Max Drawdown (5Y) Largest decline over 5 years	-44.05%	-50.51%	+6.46%
Max Drawdown (10Y) Largest decline over 10 years	-44.05%	-50.51%	+6.46%
Current Drawdown Current decline from peak	-19.28%	-33.63%	+14.35%
Average Drawdown Average peak-to-trough decline	-10.12%	-12.13%	+2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.13%	6.74%	+0.39%

Volatility

WAGOX vs. WAAEX - Volatility Comparison

The current volatility for Wasatch Global Opportunities Fund (WAGOX) is 4.41%, while Wasatch Small Cap Growth Fund (WAAEX) has a volatility of 5.02%. This indicates that WAGOX experiences smaller price fluctuations and is considered to be less risky than WAAEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WAGOX	WAAEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	5.02%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	11.52%	13.94%	-2.42%
Volatility (1Y) Calculated over the trailing 1-year period	15.40%	19.06%	-3.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.61%	25.41%	-4.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.61%	25.09%	-4.48%

WAGOX vs. WAAEX - Expense Ratio Comparison

WAGOX has a 1.50% expense ratio, which is higher than WAAEX's 1.12% expense ratio.

Dividends

WAGOX vs. WAAEX - Dividend Comparison

WAGOX's dividend yield for the trailing twelve months is around 8.93%, more than WAAEX's 2.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
WAGOX Wasatch Global Opportunities Fund	8.93%	9.34%	8.83%	0.00%	2.30%	7.98%	1.96%	8.64%	18.77%	11.04%	9.13%	13.52%

Frequently Asked Questions

Can I hold both WAGOX and WAAEX in my portfolio?

WAGOX and WAAEX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WAGOX or WAAEX?

WAAEX has higher volatility (5.02%) compared to WAGOX (4.41%). In terms of maximum drawdown, WAGOX dropped -44.05% vs WAAEX's -56.48%.

Which has better risk-adjusted returns?

WAGOX currently has the higher Sharpe Ratio (0.12 vs -0.22), 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.