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WALSX vs. RLSIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

WALSX vs. RLSIX

Last updated Jun 24, 2026

WALSX (Wasatch Long/Short Alpha Fund) and RLSIX (RiverPark Long/Short Opportunity Fund) are both Long-Short funds. Over the past 3 years, WALSX returned 6.25%/yr vs 11.33%/yr for RLSIX. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 1.75% expense ratio.

Performance

WALSX vs. RLSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wasatch Long/Short Alpha Fund (WALSX) and RiverPark Long/Short Opportunity Fund (RLSIX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, WALSX achieves a 5.87% return, which is significantly higher than RLSIX's -4.14% return.

WALSX

1D
0.15%
1M
1.33%
YTD
5.87%
6M
3.92%
1Y
-3.42%
3Y*
6.25%
5Y*
—
10Y*
—

RLSIX

1D
-1.20%
1M
-2.44%
YTD
-4.14%
6M
-4.39%
1Y
4.15%
3Y*
11.33%
5Y*
-5.79%
10Y*
6.83%
*Multi-year figures are annualized to reflect compound growth (CAGR)

WALSX vs. RLSIX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
WALSX
Wasatch Long/Short Alpha Fund		5.87%-12.79%7.24%27.75%-8.38%12.20%
RLSIX
RiverPark Long/Short Opportunity Fund		-4.14%8.57%16.06%43.85%-53.89%-4.93%

Correlation

The correlation between WALSX and RLSIX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.27

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

0.57

Over the past year, the correlation between WALSX and RLSIX has dropped to 0.27 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

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Wasatch Long/Short Alpha Fund

RiverPark Long/Short Opportunity Fund

Often compared with WALSX:
WALSX vs. QLEIXWALSX vs. IVVWALSX vs. QLENXWALSX vs. SPYWALSX vs. VMNIXWALSX vs. ASILXWALSX vs. WTLS
Often compared with RLSIX:
RLSIX vs. SPYRLSIX vs. AGGRLSIX vs. QLEIXRLSIX vs. BTPIXRLSIX vs. JAKVXRLSIX vs. RWGIXRLSIX vs. GTAPX

Return for Risk

WALSX vs. RLSIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
WALSX
WALSX Risk / Return Rank: 22
Overall Rank
WALSX Sharpe Ratio Rank: 22
Sharpe Ratio Rank
WALSX Sortino Ratio Rank: 22
Sortino Ratio Rank
WALSX Omega Ratio Rank: 22
Omega Ratio Rank
WALSX Calmar Ratio Rank: 22
Calmar Ratio Rank
WALSX Martin Ratio Rank: 22
Martin Ratio Rank
RLSIX
RLSIX Risk / Return Rank: 55
Overall Rank
RLSIX Sharpe Ratio Rank: 66
Sharpe Ratio Rank
RLSIX Sortino Ratio Rank: 55
Sortino Ratio Rank
RLSIX Omega Ratio Rank: 55
Omega Ratio Rank
RLSIX Calmar Ratio Rank: 55
Calmar Ratio Rank
RLSIX Martin Ratio Rank: 55
Martin Ratio Rank
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. RLSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch Long/Short Alpha Fund (WALSX) and RiverPark Long/Short Opportunity Fund (RLSIX). 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.

WALSXRLSIXDifference
Sharpe ratioReturn per unit of total volatility
-0.19
0.38

-0.58

Sortino ratioReturn per unit of downside risk
-0.18
0.60

-0.78

Omega ratioGain probability vs. loss probability

0.98

1.08

-0.09

Calmar ratioReturn relative to maximum drawdown

-0.24

0.32

-0.56

Martin ratioReturn relative to average drawdown

-0.47

0.92

-1.38

WALSX vs. RLSIX - Sharpe Ratio Comparison

The current WALSX Sharpe Ratio is -0.19, which is lower than the RLSIX Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of WALSX and RLSIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

WALSX vs. RLSIX - Drawdown Comparison

The maximum WALSX drawdown since its inception was -25.28%, smaller than the maximum RLSIX drawdown of -60.82%. Use the drawdown chart below to compare losses from any high point for WALSX and RLSIX.

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Drawdown Indicators

WALSXRLSIXDifference

Max Drawdown

Largest peak-to-trough decline

-25.28%

-60.82%

+35.54%

Max Drawdown (1Y)

Largest decline over 1 year

-12.66%

-14.56%

+1.90%

Max Drawdown (3Y)

Largest decline over 3 years

-25.28%

-17.62%

-7.66%

Max Drawdown (5Y)

Largest decline over 5 years

—

-60.82%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-60.82%

—

Current Drawdown

Current decline from peak

-18.71%

-28.92%

+10.21%

Average Drawdown

Average peak-to-trough decline

-9.61%

-15.13%

+5.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.55%

5.10%

+1.45%

Volatility

WALSX vs. RLSIX - Volatility Comparison

The current volatility for Wasatch Long/Short Alpha Fund (WALSX) is 3.20%, while RiverPark Long/Short Opportunity Fund (RLSIX) has a volatility of 4.65%. This indicates that WALSX experiences smaller price fluctuations and is considered to be less risky than RLSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

WALSXRLSIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.20%

4.65%

-1.45%

Volatility (6M)

Calculated over the trailing 6-month period

11.75%

9.92%

+1.83%

Volatility (1Y)

Calculated over the trailing 1-year period

15.84%

12.19%

+3.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.32%

24.98%

-8.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.32%

21.58%

-5.26%

WALSX vs. RLSIX - Expense Ratio Comparison

Both WALSX and RLSIX have an expense ratio of 1.75%.

Dividends

WALSX vs. RLSIX - Dividend Comparison

Neither WALSX nor RLSIX has paid dividends to shareholders.

PositionTTM202520242023202220212020201920182017
RLSIX
RiverPark Long/Short Opportunity Fund		0.00%0.00%0.00%0.00%0.00%0.00%0.00%11.94%11.66%1.26%
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%

Frequently Asked Questions

WALSX and RLSIX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

RLSIX has higher volatility (4.65%) compared to WALSX (3.20%). In terms of maximum drawdown, WALSX dropped -25.28% vs RLSIX's -60.82%.

RLSIX currently has the higher Sharpe Ratio (0.38 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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