WAIOX vs. HLMSX
WAIOX (Wasatch International Opportunities Fund) and HLMSX (Harding Loevner International Small Companies Portfolio) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, WAIOX returned 3.49%/yr vs 6.13%/yr for HLMSX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. WAIOX charges 1.96%/yr vs 1.37%/yr for HLMSX.
Performance
WAIOX vs. HLMSX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, WAIOX achieves a 5.03% return, which is significantly lower than HLMSX's 8.43% return. Over the past 10 years, WAIOX has underperformed HLMSX with an annualized return of 3.49%, while HLMSX has yielded a comparatively higher 6.13% annualized return.
WAIOX
- 1D
- 1.62%
- 1M
- -3.09%
- 6M
- 4.44%
- YTD
- 5.03%
- 1Y
- -3.01%
- 3Y*
- 3.33%
- 5Y*
- -7.01%
- 10Y*
- 3.49%
- ALL TIME*
- 6.80%
HLMSX
- 1D
- 1.44%
- 1M
- 1.55%
- 6M
- 5.58%
- YTD
- 8.43%
- 1Y
- 7.49%
- 3Y*
- 5.51%
- 5Y*
- -0.16%
- 10Y*
- 6.13%
- ALL TIME*
- 5.63%
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 |
WAIOX vs. HLMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WAIOX Wasatch International Opportunities Fund | 5.03% | 2.57% | -4.49% | 10.64% | -36.63% | -1.36% | 41.75% | 32.19% | -14.69% | 27.69% |
HLMSX Harding Loevner International Small Companies Portfolio | 8.43% | 14.87% | -6.92% | 11.78% | -24.50% | 12.82% | 18.51% | 29.45% | -17.65% | 34.42% |
Correlation
The correlation between WAIOX and HLMSX is 0.75, 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. | 0.75 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2007 | 0.77 |
The correlation between WAIOX and HLMSX has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
WAIOX vs. HLMSX — Risk / Return Rank
WAIOX
HLMSX
WAIOX vs. HLMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Wasatch International Opportunities Fund (WAIOX) and Harding Loevner International Small Companies Portfolio (HLMSX). 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.
| WAIOX | HLMSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.10 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 0.65 | -0.83 |
| Martin ratioReturn relative to average drawdown | -0.43 | 1.64 | -2.07 |
Loading charts...
Drawdowns
WAIOX vs. HLMSX - Drawdown Comparison
The maximum WAIOX drawdown since its inception was -68.04%, which is greater than HLMSX's maximum drawdown of -60.77%. Use the drawdown chart below to compare losses from any high point for WAIOX and HLMSX.
Loading charts...
Drawdown Indicators
| WAIOX | HLMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.04% | -60.77% | -7.27% |
Max Drawdown (1Y)Largest decline over 1 year | -18.18% | -10.59% | -7.59% |
Max Drawdown (3Y)Largest decline over 3 years | -21.23% | -16.57% | -4.66% |
Max Drawdown (5Y)Largest decline over 5 years | -50.21% | -38.22% | -11.99% |
Max Drawdown (10Y)Largest decline over 10 years | -50.21% | -38.22% | -11.99% |
Current DrawdownCurrent decline from peak | -34.76% | -7.45% | -27.31% |
Average DrawdownAverage peak-to-trough decline | -16.93% | -13.20% | -3.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.71% | 4.16% | +3.55% |
Volatility
WAIOX vs. HLMSX - Volatility Comparison
Wasatch International Opportunities Fund (WAIOX) has a higher volatility of 4.80% compared to Harding Loevner International Small Companies Portfolio (HLMSX) at 4.00%. This indicates that WAIOX's price experiences larger fluctuations and is considered to be riskier than HLMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| WAIOX | HLMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 4.00% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 12.83% | 10.58% | +2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.14% | 12.64% | +2.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.24% | 15.14% | +2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.59% | 14.82% | +1.77% |
WAIOX vs. HLMSX - Expense Ratio Comparison
WAIOX has a 1.96% expense ratio, which is higher than HLMSX's 1.37% expense ratio.
Dividends
WAIOX vs. HLMSX - Dividend Comparison
WAIOX's dividend yield for the trailing twelve months is around 65.02%, more than HLMSX's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HLMSX Harding Loevner International Small Companies Portfolio | 3.73% | 4.04% | 1.17% | 1.00% | 1.83% | 2.82% | 0.03% | 0.52% | 7.56% | 1.13% | 4.37% | 1.54% |
WAIOX Wasatch International Opportunities Fund | 65.02% | 68.29% | 0.00% | 0.00% | 0.00% | 14.35% | 1.98% | 2.38% | 2.73% | 7.00% | 0.00% | 4.76% |
Frequently Asked Questions
WAIOX and HLMSX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WAIOX has higher volatility (4.80%) compared to HLMSX (4.00%). In terms of maximum drawdown, WAIOX dropped -68.04% vs HLMSX's -60.77%.
HLMSX currently has the higher Sharpe Ratio (0.54 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.
Find the right allocation for WAIOX and HLMSX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer