WHGHX vs. WHGSX

Last updated Jun 3, 2026

WHGHX (Westwood High Income Fund) and WHGSX (Westwood Quality SmallCap Fund) are both mutual funds - WHGHX is a High Yield Bonds fund managed by Westwood, while WHGSX is a Small Cap Blend Equities fund managed by Westwood. Over the past 10 years, WHGHX returned 6.20%/yr vs 8.64%/yr for WHGSX. A 0.52 correlation means they provide meaningful diversification when combined. WHGHX charges 0.80%/yr vs 0.92%/yr for WHGSX.

Performance

WHGHX vs. WHGSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Westwood High Income Fund (WHGHX) and Westwood Quality SmallCap Fund (WHGSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WHGHX achieves a 4.16% return, which is significantly lower than WHGSX's 8.32% return. Over the past 10 years, WHGHX has underperformed WHGSX with an annualized return of 6.20%, while WHGSX has yielded a comparatively higher 8.64% annualized return.

WHGHX

• 1D: 0.10%
• 1M: 1.58%
• YTD: 4.16%
• 6M: 4.68%
• 1Y: 13.54%
• 3Y*: 10.65%
• 5Y*: 4.73%
• 10Y*: 6.20%

WHGSX

• 1D: -0.91%
• 1M: -2.68%
• YTD: 8.32%
• 6M: 7.82%
• 1Y: 16.41%
• 3Y*: 8.79%
• 5Y*: 3.42%
• 10Y*: 8.64%

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

WHGHX vs. WHGSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WHGHX Westwood High Income Fund	4.16%	9.60%	9.73%	11.53%	-11.10%	7.24%	14.89%	9.45%	0.36%	4.20%
WHGSX Westwood Quality SmallCap Fund	8.32%	-0.12%	4.75%	17.16%	-12.42%	27.94%	2.16%	27.13%	-14.25%	12.38%

Correlation

The correlation between WHGHX and WHGSX 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	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Dec 29, 2011	0.52

The correlation between WHGHX and WHGSX shifts across timeframes, from 0.52 (all time) to 0.68 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

WHGHX vs. WHGSX — Risk / Return Rank

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

WHGHX

WHGHX Risk / Return Rank: 88
WHGHX Sharpe Ratio Rank: 91
WHGHX Sortino Ratio Rank: 92
WHGHX Omega Ratio Rank: 88
WHGHX Calmar Ratio Rank: 81
WHGHX Martin Ratio Rank: 89

WHGSX

WHGSX Risk / Return Rank: 14
WHGSX Sharpe Ratio Rank: 12
WHGSX Sortino Ratio Rank: 13
WHGSX Omega Ratio Rank: 11
WHGSX Calmar Ratio Rank: 17
WHGSX Martin Ratio Rank: 14

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.

WHGHX vs. WHGSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Westwood High Income Fund (WHGHX) and Westwood Quality SmallCap Fund (WHGSX). 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.

	WHGHX	WHGSX	Difference
Sharpe ratio Return per unit of total volatility	3.05	0.92	+2.12
Sortino ratio Return per unit of downside risk	4.63	1.49	+3.13
Omega ratio Gain probability vs. loss probability	1.61	1.17	+0.44
Calmar ratio Return relative to maximum drawdown	3.70	1.53	+2.17
Martin ratio Return relative to average drawdown	17.54	4.10	+13.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WHGHX vs. WHGSX - Sharpe Ratio Comparison

The current WHGHX Sharpe Ratio is 3.05, which is higher than the WHGSX Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of WHGHX and WHGSX, 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

	WHGHX	WHGSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.05	0.92	+2.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.17	+0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.05	0.39	+0.65
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	0.29	+0.71

Drawdowns

WHGHX vs. WHGSX - Drawdown Comparison

The maximum WHGHX drawdown since its inception was -18.11%, smaller than the maximum WHGSX drawdown of -56.51%. Use the drawdown chart below to compare losses from any high point for WHGHX and WHGSX.

Drawdown Indicators

	WHGHX	WHGSX	Difference
Max Drawdown Largest peak-to-trough decline	-18.11%	-56.51%	+38.40%
Max Drawdown (1Y) Largest decline over 1 year	-3.65%	-10.47%	+6.82%
Max Drawdown (3Y) Largest decline over 3 years	-6.76%	-26.67%	+19.91%
Max Drawdown (5Y) Largest decline over 5 years	-15.88%	-26.67%	+10.79%
Max Drawdown (10Y) Largest decline over 10 years	-18.11%	-42.94%	+24.83%
Current Drawdown Current decline from peak	0.00%	-3.81%	+3.81%
Average Drawdown Average peak-to-trough decline	-1.91%	-10.46%	+8.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	3.91%	-3.14%

Volatility

WHGHX vs. WHGSX - Volatility Comparison

The current volatility for Westwood High Income Fund (WHGHX) is 1.49%, while Westwood Quality SmallCap Fund (WHGSX) has a volatility of 4.86%. This indicates that WHGHX experiences smaller price fluctuations and is considered to be less risky than WHGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WHGHX	WHGSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.49%	4.86%	-3.37%
Volatility (6M) Calculated over the trailing 6-month period	3.61%	11.94%	-8.33%
Volatility (1Y) Calculated over the trailing 1-year period	4.45%	17.43%	-12.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.29%	20.14%	-13.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.94%	22.09%	-16.15%

WHGHX vs. WHGSX - Expense Ratio Comparison

WHGHX has a 0.80% expense ratio, which is lower than WHGSX's 0.92% expense ratio.

Dividends

WHGHX vs. WHGSX - Dividend Comparison

WHGHX's dividend yield for the trailing twelve months is around 5.60%, which matches WHGSX's 5.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WHGHX Westwood High Income Fund	5.60%	6.27%	5.81%	5.23%	4.79%	3.45%	3.54%	4.39%	4.79%	4.58%	4.07%	4.60%
WHGSX Westwood Quality SmallCap Fund	5.64%	6.11%	6.37%	4.06%	3.67%	4.69%	0.65%	1.04%	7.20%	7.25%	0.52%	0.41%

Frequently Asked Questions

Can I hold both WHGHX and WHGSX in my portfolio?

WHGHX and WHGSX 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, WHGHX or WHGSX?

WHGSX has higher volatility (4.86%) compared to WHGHX (1.49%). In terms of maximum drawdown, WHGHX dropped -18.11% vs WHGSX's -56.51%.

Which has better risk-adjusted returns?

WHGHX currently has the higher Sharpe Ratio (3.05 vs 0.92), 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.