WAMVX vs. RYOCX

Last updated Jul 11, 2026

WAMVX (Wasatch Micro Cap Value Fund) and RYOCX (Rydex NASDAQ-100 Fund Investor Class) are both mutual funds - WAMVX is a Small Cap Growth Equities fund managed by Wasatch, while RYOCX is a Large Cap Growth Equities fund tracking the NASDAQ-100 Index. Over the past 10 years, WAMVX returned 14.51%/yr vs 20.37%/yr for RYOCX. A 0.71 correlation means they provide meaningful diversification when combined. WAMVX charges 1.66%/yr vs 1.24%/yr for RYOCX.

Performance

WAMVX vs. RYOCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wasatch Micro Cap Value Fund (WAMVX) and Rydex NASDAQ-100 Fund Investor Class (RYOCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WAMVX achieves a 19.22% return, which is significantly higher than RYOCX's 17.40% return. Over the past 10 years, WAMVX has underperformed RYOCX with an annualized return of 14.51%, while RYOCX has yielded a comparatively higher 20.37% annualized return.

WAMVX

• 1D: 1.45%
• 1M: 1.66%
• 6M: 14.49%
• YTD: 19.22%
• 1Y: 30.64%
• 3Y*: 20.16%
• 5Y*: 5.92%
• 10Y*: 14.51%

RYOCX

• 1D: 1.62%
• 1M: 0.26%
• 6M: 15.07%
• YTD: 17.40%
• 1Y: 29.77%
• 3Y*: 24.89%
• 5Y*: 14.35%
• 10Y*: 20.37%

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

WAMVX vs. RYOCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WAMVX Wasatch Micro Cap Value Fund	19.22%	9.31%	24.40%	13.13%	-28.95%	26.17%	41.10%	29.93%	-8.88%	26.47%
RYOCX Rydex NASDAQ-100 Fund Investor Class	17.40%	19.51%	24.34%	53.31%	-33.34%	25.85%	46.80%	40.33%	-1.36%	31.20%

Correlation

The correlation between WAMVX and RYOCX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jul 28, 2003	0.71

The correlation between WAMVX and RYOCX has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.

Return for Risk

WAMVX vs. RYOCX — Risk / Return Rank

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

WAMVX

WAMVX Risk / Return Rank: 43
WAMVX Sharpe Ratio Rank: 42
WAMVX Sortino Ratio Rank: 45
WAMVX Omega Ratio Rank: 37
WAMVX Calmar Ratio Rank: 48
WAMVX Martin Ratio Rank: 41

RYOCX

RYOCX Risk / Return Rank: 51
RYOCX Sharpe Ratio Rank: 51
RYOCX Sortino Ratio Rank: 46
RYOCX Omega Ratio Rank: 47
RYOCX Calmar Ratio Rank: 61
RYOCX Martin Ratio Rank: 53

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.

WAMVX vs. RYOCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch Micro Cap Value Fund (WAMVX) and Rydex NASDAQ-100 Fund Investor Class (RYOCX). 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.

	WAMVX	RYOCX	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.59	-0.16
Sortino ratio: Return per unit of downside risk	2.16	2.16	0.00
Omega ratio: Gain probability vs. loss probability	1.24	1.28	-0.04
Calmar ratio: Return relative to maximum drawdown	2.12	2.39	-0.27
Martin ratio: Return relative to average drawdown	7.11	8.52	-1.41

WAMVX vs. RYOCX - Sharpe Ratio Comparison

The current WAMVX Sharpe Ratio is 1.44, which is comparable to the RYOCX Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of WAMVX and RYOCX, 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

WAMVX vs. RYOCX - Drawdown Comparison

The maximum WAMVX drawdown since its inception was -60.71%, smaller than the maximum RYOCX drawdown of -83.75%. Use the drawdown chart below to compare losses from any high point for WAMVX and RYOCX.

Drawdown Indicators

	WAMVX	RYOCX	Difference
Max Drawdown Largest peak-to-trough decline	-60.71%	-83.75%	+23.04%
Max Drawdown (1Y) Largest decline over 1 year	-13.33%	-12.31%	-1.02%
Max Drawdown (3Y) Largest decline over 3 years	-23.66%	-22.97%	-0.69%
Max Drawdown (5Y) Largest decline over 5 years	-38.69%	-38.04%	-0.65%
Max Drawdown (10Y) Largest decline over 10 years	-41.30%	-38.04%	-3.26%
Current Drawdown Current decline from peak	-4.48%	-3.09%	-1.39%
Average Drawdown Average peak-to-trough decline	-10.19%	-31.79%	+21.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.98%	3.45%	+0.53%

Volatility

WAMVX vs. RYOCX - Volatility Comparison

The current volatility for Wasatch Micro Cap Value Fund (WAMVX) is 6.43%, while Rydex NASDAQ-100 Fund Investor Class (RYOCX) has a volatility of 8.54%. This indicates that WAMVX experiences smaller price fluctuations and is considered to be less risky than RYOCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WAMVX	RYOCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.43%	8.54%	-2.11%
Volatility (6M) Calculated over the trailing 6-month period	15.02%	15.17%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	19.72%	18.45%	+1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.75%	23.15%	-2.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.36%	22.75%	-1.39%

WAMVX vs. RYOCX - Expense Ratio Comparison

WAMVX has a 1.66% expense ratio, which is higher than RYOCX's 1.24% expense ratio.

Dividends

WAMVX vs. RYOCX - Dividend Comparison

WAMVX's dividend yield for the trailing twelve months is around 9.40%, more than RYOCX's 3.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYOCX Rydex NASDAQ-100 Fund Investor Class	3.64%	4.28%	7.23%	0.00%	8.82%	4.47%	4.17%	3.80%	1.86%	6.00%	1.75%	2.03%
WAMVX Wasatch Micro Cap Value Fund	9.40%	11.20%	0.00%	0.00%	0.00%	22.38%	13.06%	9.03%	13.59%	7.98%	1.67%	12.13%

Frequently Asked Questions

Can I hold both WAMVX and RYOCX in my portfolio?

WAMVX and RYOCX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WAMVX or RYOCX?

RYOCX has higher volatility (8.54%) compared to WAMVX (6.43%). In terms of maximum drawdown, WAMVX dropped -60.71% vs RYOCX's -83.75%.

Which has better risk-adjusted returns?

RYOCX currently has the higher Sharpe Ratio (1.59 vs 1.44), 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.