WAMCX vs. BWBIX

Last updated Jun 3, 2026

WAMCX (Wasatch Ultra Growth Fund) and BWBIX (Baron WealthBuilder Fund) are both mutual funds - WAMCX is a Small Cap Growth Equities fund managed by Wasatch, while BWBIX is a Diversified Portfolio fund managed by Baron Capital Group, Inc.. Over the past 5 years, WAMCX returned -4.15%/yr vs 4.56%/yr for BWBIX. Their correlation of 0.90 suggests significant overlap in exposure. WAMCX charges 1.16%/yr vs 0.05%/yr for BWBIX.

Performance

WAMCX vs. BWBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wasatch Ultra Growth Fund (WAMCX) and Baron WealthBuilder Fund (BWBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WAMCX achieves a 7.07% return, which is significantly higher than BWBIX's 1.80% return.

WAMCX

• 1D: 0.17%
• 1M: 5.37%
• YTD: 7.07%
• 6M: 6.91%
• 1Y: 19.17%
• 3Y*: 7.26%
• 5Y*: -4.15%
• 10Y*: 12.27%

BWBIX

• 1D: 1.38%
• 1M: 4.79%
• YTD: 1.80%
• 6M: 7.71%
• 1Y: 13.39%
• 3Y*: 14.34%
• 5Y*: 4.56%
• 10Y*: —

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

WAMCX vs. BWBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
WAMCX Wasatch Ultra Growth Fund	7.07%	-2.85%	8.25%	19.19%	-39.71%	5.23%	71.48%	38.09%	-5.43%
BWBIX Baron WealthBuilder Fund	1.80%	10.23%	19.62%	25.77%	-32.58%	14.76%	62.85%	36.41%	-12.02%

Correlation

The correlation between WAMCX and BWBIX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since May 22, 2018	0.90

The correlation between WAMCX and BWBIX has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

Return for Risk

WAMCX vs. BWBIX — Risk / Return Rank

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

WAMCX

WAMCX Risk / Return Rank: 12
WAMCX Sharpe Ratio Rank: 12
WAMCX Sortino Ratio Rank: 12
WAMCX Omega Ratio Rank: 11
WAMCX Calmar Ratio Rank: 11
WAMCX Martin Ratio Rank: 12

BWBIX

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

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.

WAMCX vs. BWBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch Ultra Growth Fund (WAMCX) and Baron WealthBuilder Fund (BWBIX). 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.

	WAMCX	BWBIX	Difference
Sharpe ratio Return per unit of total volatility	0.94	0.94	0.00
Sortino ratio Return per unit of downside risk	1.46	1.49	-0.04
Omega ratio Gain probability vs. loss probability	1.17	1.18	-0.01
Calmar ratio Return relative to maximum drawdown	1.16	1.13	+0.03
Martin ratio Return relative to average drawdown	3.82	3.74	+0.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WAMCX vs. BWBIX - Sharpe Ratio Comparison

The current WAMCX Sharpe Ratio is 0.94, which is comparable to the BWBIX Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of WAMCX and BWBIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WAMCX	BWBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	0.94	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.15	0.22	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.54	-0.15

Drawdowns

WAMCX vs. BWBIX - Drawdown Comparison

The maximum WAMCX drawdown since its inception was -66.51%, which is greater than BWBIX's maximum drawdown of -39.14%. Use the drawdown chart below to compare losses from any high point for WAMCX and BWBIX.

Drawdown Indicators

	WAMCX	BWBIX	Difference
Max Drawdown Largest peak-to-trough decline	-66.51%	-39.14%	-27.37%
Max Drawdown (1Y) Largest decline over 1 year	-16.89%	-11.65%	-5.24%
Max Drawdown (3Y) Largest decline over 3 years	-33.21%	-21.59%	-11.62%
Max Drawdown (5Y) Largest decline over 5 years	-53.18%	-39.14%	-14.04%
Max Drawdown (10Y) Largest decline over 10 years	-53.18%	—	—
Current Drawdown Current decline from peak	-28.06%	-0.23%	-27.83%
Average Drawdown Average peak-to-trough decline	-15.15%	-11.73%	-3.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.13%	3.53%	+1.60%

Volatility

WAMCX vs. BWBIX - Volatility Comparison

Wasatch Ultra Growth Fund (WAMCX) has a higher volatility of 5.50% compared to Baron WealthBuilder Fund (BWBIX) at 3.13%. This indicates that WAMCX's price experiences larger fluctuations and is considered to be riskier than BWBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WAMCX	BWBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.50%	3.13%	+2.37%
Volatility (6M) Calculated over the trailing 6-month period	15.91%	10.94%	+4.97%
Volatility (1Y) Calculated over the trailing 1-year period	21.38%	14.35%	+7.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.39%	21.07%	+6.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.62%	23.14%	+2.48%

WAMCX vs. BWBIX - Expense Ratio Comparison

WAMCX has a 1.16% expense ratio, which is higher than BWBIX's 0.05% expense ratio.

Dividends

WAMCX vs. BWBIX - Dividend Comparison

WAMCX has not paid dividends to shareholders, while BWBIX's dividend yield for the trailing twelve months is around 7.47%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BWBIX Baron WealthBuilder Fund	7.47%	7.61%	0.77%	0.06%	3.21%	3.75%	1.24%	3.51%	0.14%	0.00%	0.00%	0.00%
WAMCX Wasatch Ultra Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	12.08%	2.99%	1.96%	7.65%	11.92%	11.44%	9.18%

Frequently Asked Questions

Can I hold both WAMCX and BWBIX in my portfolio?

WAMCX and BWBIX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WAMCX or BWBIX?

WAMCX has higher volatility (5.50%) compared to BWBIX (3.13%). In terms of maximum drawdown, WAMCX dropped -66.51% vs BWBIX's -39.14%.

Which has better risk-adjusted returns?

BWBIX currently has the higher Sharpe Ratio (0.94 vs 0.94), 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.