WBIL vs. AMAGX

Last updated Aug 2, 2026

WBIL (WBI BullBear Quality 3000 ETF) and AMAGX (Amana Growth Fund Investor Shares) are both funds - WBIL is a Quality Factor fund actively managed by WBI, while AMAGX is a Large Cap Growth Equities fund actively managed by Amana. Both are actively managed. Over the past 10 years, WBIL returned 6.81%/yr vs 16.64%/yr for AMAGX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. WBIL charges 1.23%/yr vs 0.86%/yr for AMAGX.

Performance

WBIL vs. AMAGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WBI BullBear Quality 3000 ETF (WBIL) and Amana Growth Fund Investor Shares (AMAGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WBIL achieves a 14.12% return, which is significantly higher than AMAGX's 11.50% return. Over the past 10 years, WBIL has underperformed AMAGX with an annualized return of 6.81%, while AMAGX has yielded a comparatively higher 16.64% annualized return.

WBIL

• 1D: 0.05%
• 1M: 0.40%
• 6M: 11.81%
• YTD: 14.12%
• 1Y: 23.15%
• 3Y*: 9.68%
• 5Y*: 5.65%
• 10Y*: 6.81%
• ALL TIME*: 4.53%

AMAGX

• 1D: 2.14%
• 1M: -1.51%
• 6M: 8.84%
• YTD: 11.50%
• 1Y: 25.23%
• 3Y*: 17.74%
• 5Y*: 11.13%
• 10Y*: 16.64%
• ALL TIME*: 12.26%

*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)
AMAGX Amana Growth Fund Investor Shares	$0.00	$0.00	$0.00
WBIL WBI BullBear Quality 3000 ETF	$942.72K	$463.08K	$209.08K

WBIL vs. AMAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WBIL WBI BullBear Quality 3000 ETF	14.12%	-0.47%	13.29%	11.79%	-9.60%	18.67%	-2.19%	11.65%	-9.67%	19.31%
AMAGX Amana Growth Fund Investor Shares	11.50%	17.62%	15.73%	25.67%	-19.49%	31.51%	32.93%	33.09%	2.47%	28.91%

Correlation

The correlation between WBIL and AMAGX is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.75
Correlation (10Y) Provides a long-term view across more market conditions.	0.73
Correlation (All Time) Calculated using the full available price history since Aug 27, 2014	0.73

The correlation between WBIL and AMAGX has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.

Return for Risk

WBIL vs. AMAGX — Risk / Return Rank

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

WBIL

WBIL Risk / Return Rank: 61
WBIL Sharpe Ratio Rank: 59
WBIL Sortino Ratio Rank: 59
WBIL Omega Ratio Rank: 56
WBIL Calmar Ratio Rank: 63
WBIL Martin Ratio Rank: 69

AMAGX

AMAGX Risk / Return Rank: 54
AMAGX Sharpe Ratio Rank: 49
AMAGX Sortino Ratio Rank: 49
AMAGX Omega Ratio Rank: 45
AMAGX Calmar Ratio Rank: 63
AMAGX Martin Ratio Rank: 63

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.

WBIL vs. AMAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WBI BullBear Quality 3000 ETF (WBIL) and Amana Growth Fund Investor Shares (AMAGX). 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.

	WBIL	AMAGX	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.29	+0.12
Sortino ratio: Return per unit of downside risk	2.01	1.85	+0.16
Omega ratio: Gain probability vs. loss probability	1.25	1.23	+0.02
Calmar ratio: Return relative to maximum drawdown	2.22	2.04	+0.18
Martin ratio: Return relative to average drawdown	8.47	7.75	+0.72

WBIL vs. AMAGX - Sharpe Ratio Comparison

The current WBIL Sharpe Ratio is 1.41, which is comparable to the AMAGX Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of WBIL and AMAGX, 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

WBIL vs. AMAGX - Drawdown Comparison

The maximum WBIL drawdown since its inception was -25.30%, smaller than the maximum AMAGX drawdown of -57.64%. Use the drawdown chart below to compare losses from any high point for WBIL and AMAGX.

Drawdown Indicators

	WBIL	AMAGX	Difference
Max Drawdown Largest peak-to-trough decline	-25.30%	-57.64%	+32.34%
Max Drawdown (1Y) Largest decline over 1 year	-9.85%	-11.04%	+1.19%
Max Drawdown (3Y) Largest decline over 3 years	-25.30%	-21.45%	-3.85%
Max Drawdown (5Y) Largest decline over 5 years	-25.30%	-28.09%	+2.79%
Max Drawdown (10Y) Largest decline over 10 years	-25.30%	-28.09%	+2.79%
Current Drawdown Current decline from peak	-2.76%	-5.03%	+2.27%
Average Drawdown Average peak-to-trough decline	-6.93%	-10.24%	+3.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	2.91%	-0.33%

Volatility

WBIL vs. AMAGX - Volatility Comparison

The current volatility for WBI BullBear Quality 3000 ETF (WBIL) is 3.43%, while Amana Growth Fund Investor Shares (AMAGX) has a volatility of 4.60%. This indicates that WBIL experiences smaller price fluctuations and is considered to be less risky than AMAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WBIL	AMAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	4.60%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	12.24%	14.13%	-1.89%
Volatility (1Y) Calculated over the trailing 1-year period	15.58%	17.54%	-1.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.89%	18.65%	-4.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.82%	18.50%	-5.68%

WBIL vs. AMAGX - Expense Ratio Comparison

WBIL has a 1.23% expense ratio, which is higher than AMAGX's 0.86% expense ratio.

Dividends

WBIL vs. AMAGX - Dividend Comparison

WBIL's dividend yield for the trailing twelve months is around 0.04%, while AMAGX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMAGX Amana Growth Fund Investor Shares	0.00%	0.00%	3.95%	0.65%	3.64%	0.52%	5.44%	3.15%	3.47%	10.90%	13.67%	7.45%
WBIL WBI BullBear Quality 3000 ETF	0.04%	0.05%	0.07%	0.29%	1.03%	2.02%	0.19%	0.73%	0.75%	0.83%	0.58%	0.20%

Frequently Asked Questions

Can I hold both WBIL and AMAGX in my portfolio?

WBIL and AMAGX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WBIL or AMAGX?

AMAGX has higher volatility (4.60%) compared to WBIL (3.43%). In terms of maximum drawdown, WBIL dropped -25.30% vs AMAGX's -57.64%.

Which has better risk-adjusted returns?

WBIL currently has the higher Sharpe Ratio (1.41 vs 1.29), 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.