WAMVX vs. WMICX

Last updated Jun 3, 2026

WAMVX (Wasatch Micro Cap Value Fund) and WMICX (Wasatch Micro Cap Fund) are both Small Cap Growth Equities funds from Wasatch. Over the past 10 years, WAMVX returned 13.88%/yr vs 14.36%/yr for WMICX. Their correlation of 0.90 suggests significant overlap in exposure. WAMVX charges 1.66%/yr vs 1.63%/yr for WMICX.

Performance

WAMVX vs. WMICX - Performance Comparison

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

Returns By Period

In the year-to-date period, WAMVX achieves a 12.41% return, which is significantly lower than WMICX's 13.38% return. Both investments have delivered pretty close results over the past 10 years, with WAMVX having a 13.88% annualized return and WMICX not far ahead at 14.36%.

WAMVX

• 1D: 0.65%
• 1M: 1.09%
• YTD: 12.41%
• 6M: 14.91%
• 1Y: 29.38%
• 3Y*: 18.59%
• 5Y*: 4.47%
• 10Y*: 13.88%

WMICX

• 1D: 0.31%
• 1M: 3.47%
• YTD: 13.38%
• 6M: 14.84%
• 1Y: 31.07%
• 3Y*: 15.92%
• 5Y*: -0.47%
• 10Y*: 14.36%

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

WAMVX vs. WMICX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WAMVX Wasatch Micro Cap Value Fund	12.41%	9.31%	24.40%	13.13%	-28.95%	26.17%	41.10%	29.93%	-8.88%	26.47%
WMICX Wasatch Micro Cap Fund	13.38%	4.84%	20.91%	22.58%	-40.64%	4.51%	64.84%	42.31%	1.73%	36.17%

Correlation

The correlation between WAMVX and WMICX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jul 29, 2003	0.90

The correlation between WAMVX and WMICX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

Return for Risk

WAMVX vs. WMICX — Risk / Return Rank

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

WAMVX

WAMVX Risk / Return Rank: 28
WAMVX Sharpe Ratio Rank: 26
WAMVX Sortino Ratio Rank: 28
WAMVX Omega Ratio Rank: 23
WAMVX Calmar Ratio Rank: 31
WAMVX Martin Ratio Rank: 30

WMICX

WMICX Risk / Return Rank: 29
WMICX Sharpe Ratio Rank: 29
WMICX Sortino Ratio Rank: 30
WMICX Omega Ratio Rank: 24
WMICX Calmar Ratio Rank: 30
WMICX Martin Ratio Rank: 31

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. WMICX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch Micro Cap Value Fund (WAMVX) 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.

	WAMVX	WMICX	Difference
Sharpe ratio Return per unit of total volatility	1.49	1.57	-0.08
Sortino ratio Return per unit of downside risk	2.24	2.32	-0.09
Omega ratio Gain probability vs. loss probability	1.26	1.26	-0.01
Calmar ratio Return relative to maximum drawdown	2.13	2.09	+0.05
Martin ratio Return relative to average drawdown	7.12	7.23	-0.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WAMVX vs. WMICX - Sharpe Ratio Comparison

The current WAMVX Sharpe Ratio is 1.49, which is comparable to the WMICX Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of WAMVX 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.

Sharpe Ratios by Period

	WAMVX	WMICX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	1.57	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	-0.02	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.59	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.65	-0.01

Drawdowns

WAMVX vs. WMICX - Drawdown Comparison

The maximum WAMVX drawdown since its inception was -60.71%, smaller than the maximum WMICX drawdown of -65.21%. Use the drawdown chart below to compare losses from any high point for WAMVX and WMICX.

Drawdown Indicators

	WAMVX	WMICX	Difference
Max Drawdown Largest peak-to-trough decline	-60.71%	-65.21%	+4.50%
Max Drawdown (1Y) Largest decline over 1 year	-13.33%	-14.32%	+0.99%
Max Drawdown (3Y) Largest decline over 3 years	-23.66%	-29.44%	+5.78%
Max Drawdown (5Y) Largest decline over 5 years	-38.69%	-48.70%	+10.01%
Max Drawdown (10Y) Largest decline over 10 years	-41.30%	-50.96%	+9.66%
Current Drawdown Current decline from peak	-0.65%	-10.72%	+10.07%
Average Drawdown Average peak-to-trough decline	-10.24%	-13.34%	+3.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	4.13%	-0.14%

Volatility

WAMVX vs. WMICX - Volatility Comparison

Wasatch Micro Cap Value Fund (WAMVX) and Wasatch Micro Cap Fund (WMICX) have volatilities of 5.63% and 5.65%, 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

	WAMVX	WMICX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.63%	5.65%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	13.98%	13.74%	+0.24%
Volatility (1Y) Calculated over the trailing 1-year period	19.19%	19.43%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.57%	24.49%	-3.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.33%	24.37%	-3.04%

WAMVX vs. WMICX - Expense Ratio Comparison

WAMVX has a 1.66% expense ratio, which is higher than WMICX's 1.63% expense ratio.

Dividends

WAMVX vs. WMICX - Dividend Comparison

WAMVX's dividend yield for the trailing twelve months is around 9.96%, while WMICX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WAMVX Wasatch Micro Cap Value Fund	9.96%	11.20%	0.00%	0.00%	0.00%	22.38%	13.06%	9.03%	13.59%	7.98%	1.67%	12.13%
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 WAMVX and WMICX in my portfolio?

With a correlation of 0.96, WAMVX and WMICX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, WAMVX or WMICX?

WMICX has higher volatility (5.65%) compared to WAMVX (5.63%). In terms of maximum drawdown, WAMVX dropped -60.71% vs WMICX's -65.21%.

Which has better risk-adjusted returns?

WMICX currently has the higher Sharpe Ratio (1.57 vs 1.49), 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.