WALSX vs. IVV

Last updated Apr 1, 2026

Compare and contrast key facts about Wasatch Long/Short Alpha Fund (WALSX) and iShares Core S&P 500 ETF (IVV).

WALSX is managed by Wasatch. It was launched on Sep 30, 2021. IVV is a passively managed fund by iShares that tracks the performance of the S&P 500 Index. It was launched on May 15, 2000.

Performance

WALSX vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wasatch Long/Short Alpha Fund (WALSX) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

WALSX vs. IVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
WALSX Wasatch Long/Short Alpha Fund	1.55%	-12.79%	7.24%	27.75%	-8.38%	12.20%
IVV iShares Core S&P 500 ETF	-4.38%	17.85%	24.93%	26.31%	-18.16%	9.76%

Returns By Period

In the year-to-date period, WALSX achieves a 1.55% return, which is significantly higher than IVV's -4.38% return.

WALSX

• 1D: -0.72%
• 1M: -8.45%
• YTD: 1.55%
• 6M: -0.56%
• 1Y: -7.36%
• 3Y*: 5.14%
• 5Y*: —
• 10Y*: —

IVV

• 1D: 2.88%
• 1M: -4.99%
• YTD: -4.38%
• 6M: -1.80%
• 1Y: 17.69%
• 3Y*: 18.29%
• 5Y*: 11.76%
• 10Y*: 14.02%

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

WALSX vs. IVV - Expense Ratio Comparison

WALSX has a 1.75% expense ratio, which is higher than IVV's 0.03% expense ratio.

WALSX

Wasatch Long/Short Alpha Fund

IVV

iShares Core S&P 500 ETF

Return for Risk

WALSX vs. IVV — Risk / Return Rank

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

WALSX

WALSX Risk / Return Rank: 2
WALSX Sharpe Ratio Rank: 2
WALSX Sortino Ratio Rank: 2
WALSX Omega Ratio Rank: 2
WALSX Calmar Ratio Rank: 1
WALSX Martin Ratio Rank: 2

IVV

IVV Risk / Return Rank: 65
IVV Sharpe Ratio Rank: 58
IVV Sortino Ratio Rank: 62
IVV Omega Ratio Rank: 66
IVV Calmar Ratio Rank: 65
IVV Martin Ratio Rank: 75

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.

WALSX vs. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch Long/Short Alpha Fund (WALSX) and iShares Core S&P 500 ETF (IVV). 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.

	WALSX	IVV	Difference
Sharpe ratio Return per unit of total volatility	-0.40	0.97	-1.38
Sortino ratio Return per unit of downside risk	-0.48	1.49	-1.97
Omega ratio Gain probability vs. loss probability	0.94	1.23	-0.28
Calmar ratio Return relative to maximum drawdown	-0.57	1.53	-2.11
Martin ratio Return relative to average drawdown	-1.06	7.32	-8.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WALSX vs. IVV - Sharpe Ratio Comparison

The current WALSX Sharpe Ratio is -0.40, which is lower than the IVV Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of WALSX and IVV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WALSX	IVV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.40	0.97	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.42	-0.11

Correlation

The correlation between WALSX and IVV is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

WALSX vs. IVV - Dividend Comparison

WALSX has not paid dividends to shareholders, while IVV's dividend yield for the trailing twelve months is around 1.23%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WALSX Wasatch Long/Short Alpha Fund	0.00%	0.00%	0.00%	0.00%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IVV iShares Core S&P 500 ETF	1.23%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%

Drawdowns

WALSX vs. IVV - Drawdown Comparison

The maximum WALSX drawdown since its inception was -25.28%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for WALSX and IVV.

Drawdown Indicators

	WALSX	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-25.28%	-55.25%	+29.97%
Max Drawdown (1Y) Largest decline over 1 year	-14.71%	-12.06%	-2.65%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.53%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.90%	—
Current Drawdown Current decline from peak	-22.03%	-6.26%	-15.77%
Average Drawdown Average peak-to-trough decline	-9.16%	-10.85%	+1.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.97%	2.53%	+5.44%

Volatility

WALSX vs. IVV - Volatility Comparison

Wasatch Long/Short Alpha Fund (WALSX) and iShares Core S&P 500 ETF (IVV) have volatilities of 5.19% and 5.30%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WALSX	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	5.30%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	11.06%	9.45%	+1.61%
Volatility (1Y) Calculated over the trailing 1-year period	17.77%	18.31%	-0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.30%	16.89%	-0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.30%	18.04%	-1.74%