WALSX vs. GTAPX
WALSX (Wasatch Long/Short Alpha Fund) and GTAPX (Quantitative U.S. Long/Short Equity Portfolio) are both Long-Short funds. Over the past 3 years, WALSX returned 6.25%/yr vs 11.22%/yr for GTAPX. At a 0.46 correlation, their price movements are largely independent. WALSX charges 1.75%/yr vs 1.25%/yr for GTAPX.
Performance
WALSX vs. GTAPX - Performance Comparison
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Returns By Period
In the year-to-date period, WALSX achieves a 5.87% return, which is significantly higher than GTAPX's 4.89% return.
WALSX
- 1D
- 0.15%
- 1M
- 1.33%
- YTD
- 5.87%
- 6M
- 3.92%
- 1Y
- -3.42%
- 3Y*
- 6.25%
- 5Y*
- —
- 10Y*
- —
GTAPX
- 1D
- 0.67%
- 1M
- -0.15%
- YTD
- 4.89%
- 6M
- 4.32%
- 1Y
- 14.07%
- 3Y*
- 11.22%
- 5Y*
- 9.27%
- 10Y*
- 5.85%
WALSX vs. GTAPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WALSX Wasatch Long/Short Alpha Fund | 5.87% | -12.79% | 7.24% | 27.75% | -8.38% | 12.20% |
GTAPX Quantitative U.S. Long/Short Equity Portfolio | 4.89% | 12.79% | 13.28% | 4.42% | 3.16% | 5.01% |
Correlation
The correlation between WALSX and GTAPX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021 | 0.46 |
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Return for Risk
WALSX vs. GTAPX — Risk / Return Rank
WALSX
GTAPX
WALSX vs. GTAPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Wasatch Long/Short Alpha Fund (WALSX) and Quantitative U.S. Long/Short Equity Portfolio (GTAPX). 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.
| WALSX | GTAPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.33 | ||
| Sortino ratioReturn per unit of downside risk | -3.34 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.37 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 4.85 | -5.10 |
| Martin ratioReturn relative to average drawdown | -0.47 | 14.86 | -15.32 |
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Drawdowns
WALSX vs. GTAPX - Drawdown Comparison
The maximum WALSX drawdown since its inception was -25.28%, smaller than the maximum GTAPX drawdown of -30.40%. Use the drawdown chart below to compare losses from any high point for WALSX and GTAPX.
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Drawdown Indicators
| WALSX | GTAPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.28% | -30.40% | +5.12% |
Max Drawdown (1Y)Largest decline over 1 year | -12.66% | -3.01% | -9.65% |
Max Drawdown (3Y)Largest decline over 3 years | -25.28% | -12.21% | -13.07% |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.21% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.40% | — |
Current DrawdownCurrent decline from peak | -18.71% | -1.17% | -17.54% |
Average DrawdownAverage peak-to-trough decline | -9.61% | -7.02% | -2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.55% | 0.98% | +5.57% |
Volatility
WALSX vs. GTAPX - Volatility Comparison
Wasatch Long/Short Alpha Fund (WALSX) has a higher volatility of 3.20% compared to Quantitative U.S. Long/Short Equity Portfolio (GTAPX) at 2.19%. This indicates that WALSX's price experiences larger fluctuations and is considered to be riskier than GTAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WALSX | GTAPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.20% | 2.19% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 11.75% | 5.25% | +6.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.84% | 6.86% | +8.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.32% | 10.88% | +5.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.32% | 10.24% | +6.08% |
WALSX vs. GTAPX - Expense Ratio Comparison
WALSX has a 1.75% expense ratio, which is higher than GTAPX's 1.25% expense ratio.
Dividends
WALSX vs. GTAPX - Dividend Comparison
WALSX has not paid dividends to shareholders, while GTAPX's dividend yield for the trailing twelve months is around 15.81%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GTAPX Quantitative U.S. Long/Short Equity Portfolio | 15.81% | 16.63% | 11.79% | 11.23% | 0.00% | 0.00% | 0.00% | 0.96% |
WALSX Wasatch Long/Short Alpha Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.09% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WALSX and GTAPX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WALSX has higher volatility (3.20%) compared to GTAPX (2.19%). In terms of maximum drawdown, WALSX dropped -25.28% vs GTAPX's -30.40%.
GTAPX currently has the higher Sharpe Ratio (2.13 vs -0.19), 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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