WALSX vs. WMICX

Last updated Aug 4, 2026

WALSX (Wasatch Long/Short Alpha Fund) and WMICX (Wasatch Micro Cap Fund) are both mutual funds - WALSX is a Long-Short fund managed by Wasatch, while WMICX is a Small Cap Growth Equities fund managed by Wasatch. Over the past 3 years, WALSX returned 7.15%/yr vs 12.74%/yr for WMICX. Their 0.74 correlation means they have sometimes moved together and sometimes differently. WALSX charges 1.75%/yr vs 1.63%/yr for WMICX.

Performance

WALSX vs. WMICX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with WALSX having a 13.20% return and WMICX slightly higher at 13.38%.

WALSX

• 1D: -0.36%
• 1M: 0.58%
• 6M: 8.01%
• YTD: 13.20%
• 1Y: 7.26%
• 3Y*: 7.15%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.06%

WMICX

• 1D: 0.10%
• 1M: -6.56%
• 6M: 6.39%
• YTD: 13.38%
• 1Y: 28.83%
• 3Y*: 12.74%
• 5Y*: -0.21%
• 10Y*: 13.75%
• ALL TIME*: 14.04%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
WALSX Wasatch Long/Short Alpha Fund	$0.00	$0.00	$0.00
WMICX Wasatch Micro Cap Fund	$0.00	$0.00	$0.00

WALSX vs. WMICX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
WALSX Wasatch Long/Short Alpha Fund	13.20%	-12.79%	7.24%	27.75%	-8.38%	12.20%
WMICX Wasatch Micro Cap Fund	13.38%	4.84%	20.91%	22.58%	-40.64%	-1.16%

Correlation

The correlation between WALSX and WMICX is 0.50, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.50
Correlation (3Y) Balances recent behavior with more history.	0.68
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021	0.74

Over the past year, the correlation between WALSX and WMICX has dropped to 0.50 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

WALSX vs. WMICX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WALSX

WALSX Risk / Return Rank: 11
WALSX Sharpe Ratio Rank: 11
WALSX Sortino Ratio Rank: 12
WALSX Omega Ratio Rank: 10
WALSX Calmar Ratio Rank: 13
WALSX Martin Ratio Rank: 10

WMICX

WMICX Risk / Return Rank: 42
WMICX Sharpe Ratio Rank: 43
WMICX Sortino Ratio Rank: 47
WMICX Omega Ratio Rank: 36
WMICX Calmar Ratio Rank: 43
WMICX Martin Ratio Rank: 39

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WALSX vs. WMICX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch Long/Short Alpha Fund (WALSX) and Wasatch Micro Cap Fund (WMICX). 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	WMICX	Difference
Sharpe ratio: Return per unit of total volatility	0.46	1.34	-0.88
Sortino ratio: Return per unit of downside risk	0.83	2.04	-1.21
Omega ratio: Gain probability vs. loss probability	1.09	1.23	-0.14
Calmar ratio: Return relative to maximum drawdown	0.69	1.86	-1.17
Martin ratio: Return relative to average drawdown	1.40	6.02	-4.62

WALSX vs. WMICX - Sharpe Ratio Comparison

The current WALSX Sharpe Ratio is 0.46, which is lower than the WMICX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of WALSX and WMICX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WALSX vs. WMICX - Drawdown Comparison

The maximum WALSX drawdown since its inception was -25.28%, smaller than the maximum WMICX drawdown of -65.21%. Use the drawdown chart below to compare losses from any high point for WALSX and WMICX.

Drawdown Indicators

	WALSX	WMICX	Difference
Max Drawdown Largest peak-to-trough decline	-25.28%	-65.21%	+39.93%
Max Drawdown (1Y) Largest decline over 1 year	-10.76%	-14.32%	+3.56%
Max Drawdown (3Y) Largest decline over 3 years	-25.28%	-29.44%	+4.16%
Max Drawdown (5Y) Largest decline over 5 years	—	-48.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-50.96%	—
Current Drawdown Current decline from peak	-13.08%	-10.72%	-2.36%
Average Drawdown Average peak-to-trough decline	-9.71%	-13.31%	+3.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.31%	4.41%	+0.90%

Volatility

WALSX vs. WMICX - Volatility Comparison

Wasatch Long/Short Alpha Fund (WALSX) and Wasatch Micro Cap Fund (WMICX) have volatilities of 4.98% and 4.90%, 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	WMICX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	4.90%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	12.35%	14.71%	-2.36%
Volatility (1Y) Calculated over the trailing 1-year period	16.26%	19.85%	-3.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.38%	24.53%	-8.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.38%	24.40%	-8.02%

WALSX vs. WMICX - Expense Ratio Comparison

WALSX has a 1.75% expense ratio, which is higher than WMICX's 1.63% expense ratio.

Dividends

WALSX vs. WMICX - Dividend Comparison

Neither WALSX nor WMICX has paid dividends to shareholders.

Position	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%
WMICX Wasatch Micro Cap Fund	0.00%	0.00%	0.00%	0.00%	0.00%	30.82%	5.68%	11.40%	29.75%	15.30%	9.30%	16.58%

Frequently Asked Questions

Can I hold both WALSX and WMICX in my portfolio?

WALSX and WMICX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WALSX or WMICX?

WALSX has higher volatility (4.98%) compared to WMICX (4.90%). In terms of maximum drawdown, WALSX dropped -25.28% vs WMICX's -65.21%.

Which has better risk-adjusted returns?

WMICX currently has the higher Sharpe Ratio (1.34 vs 0.46), 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.