WHGSX vs. WHGIX

Last updated Jun 23, 2026

WHGSX (Westwood Quality SmallCap Fund) and WHGIX (Westwood Income Opportunity Fund) are both mutual funds - WHGSX is a Small Cap Blend Equities fund managed by Westwood, while WHGIX is a Diversified Portfolio fund managed by Westwood. Over the past 10 years, WHGSX returned 9.15%/yr vs 6.51%/yr for WHGIX. A 0.77 correlation means they provide meaningful diversification when combined. WHGSX charges 0.92%/yr vs 0.81%/yr for WHGIX.

Performance

WHGSX vs. WHGIX - Performance Comparison

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

Returns By Period

In the year-to-date period, WHGSX achieves a 14.29% return, which is significantly higher than WHGIX's 5.52% return. Over the past 10 years, WHGSX has outperformed WHGIX with an annualized return of 9.15%, while WHGIX has yielded a comparatively lower 6.51% annualized return.

WHGSX

• 1D: 1.96%
• 1M: 4.60%
• YTD: 14.29%
• 6M: 11.67%
• 1Y: 19.03%
• 3Y*: 9.83%
• 5Y*: 5.43%
• 10Y*: 9.15%

WHGIX

• 1D: -0.15%
• 1M: 0.36%
• YTD: 5.52%
• 6M: 5.27%
• 1Y: 16.33%
• 3Y*: 10.88%
• 5Y*: 4.70%
• 10Y*: 6.51%

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

WHGSX vs. WHGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WHGSX Westwood Quality SmallCap Fund	14.29%	-0.12%	4.75%	17.16%	-12.42%	27.94%	2.16%	27.13%	-14.25%	12.38%
WHGIX Westwood Income Opportunity Fund	5.52%	11.90%	9.10%	9.91%	-12.80%	8.50%	10.84%	17.71%	-4.89%	10.96%

Correlation

The correlation between WHGSX and WHGIX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Apr 3, 2007	0.77

The correlation between WHGSX and WHGIX has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.

Return for Risk

WHGSX vs. WHGIX — Risk / Return Rank

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

WHGSX

WHGSX Risk / Return Rank: 21
WHGSX Sharpe Ratio Rank: 17
WHGSX Sortino Ratio Rank: 21
WHGSX Omega Ratio Rank: 16
WHGSX Calmar Ratio Rank: 29
WHGSX Martin Ratio Rank: 22

WHGIX

WHGIX Risk / Return Rank: 76
WHGIX Sharpe Ratio Rank: 74
WHGIX Sortino Ratio Rank: 73
WHGIX Omega Ratio Rank: 70
WHGIX Calmar Ratio Rank: 79
WHGIX Martin Ratio Rank: 83

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.

WHGSX vs. WHGIX - Risk-Adjusted Trends Comparison

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

	WHGSX	WHGIX	Difference
Sharpe ratio: Return per unit of total volatility	1.11	2.30	-1.19
Sortino ratio: Return per unit of downside risk	1.77	3.24	-1.47
Omega ratio: Gain probability vs. loss probability	1.20	1.42	-0.23
Calmar ratio: Return relative to maximum drawdown	1.88	3.37	-1.49
Martin ratio: Return relative to average drawdown	5.00	14.39	-9.39

WHGSX vs. WHGIX - Sharpe Ratio Comparison

The current WHGSX Sharpe Ratio is 1.11, which is lower than the WHGIX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of WHGSX and WHGIX, 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

WHGSX vs. WHGIX - Drawdown Comparison

The maximum WHGSX drawdown since its inception was -56.51%, which is greater than WHGIX's maximum drawdown of -24.14%. Use the drawdown chart below to compare losses from any high point for WHGSX and WHGIX.

Drawdown Indicators

	WHGSX	WHGIX	Difference
Max Drawdown Largest peak-to-trough decline	-56.51%	-24.14%	-32.37%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-4.90%	-5.57%
Max Drawdown (3Y) Largest decline over 3 years	-26.67%	-9.81%	-16.86%
Max Drawdown (5Y) Largest decline over 5 years	-26.67%	-19.20%	-7.47%
Max Drawdown (10Y) Largest decline over 10 years	-42.94%	-24.14%	-18.80%
Current Drawdown Current decline from peak	0.00%	-1.60%	+1.60%
Average Drawdown Average peak-to-trough decline	-10.44%	-3.10%	-7.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	1.15%	+2.78%

Volatility

WHGSX vs. WHGIX - Volatility Comparison

Westwood Quality SmallCap Fund (WHGSX) has a higher volatility of 5.51% compared to Westwood Income Opportunity Fund (WHGIX) at 3.07%. This indicates that WHGSX's price experiences larger fluctuations and is considered to be riskier than WHGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WHGSX	WHGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.51%	3.07%	+2.44%
Volatility (6M) Calculated over the trailing 6-month period	12.36%	5.91%	+6.45%
Volatility (1Y) Calculated over the trailing 1-year period	17.68%	7.19%	+10.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.18%	8.40%	+11.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.12%	8.98%	+13.14%

WHGSX vs. WHGIX - Expense Ratio Comparison

WHGSX has a 0.92% expense ratio, which is higher than WHGIX's 0.81% expense ratio.

Dividends

WHGSX vs. WHGIX - Dividend Comparison

WHGSX's dividend yield for the trailing twelve months is around 5.35%, more than WHGIX's 3.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WHGIX Westwood Income Opportunity Fund	3.38%	3.28%	4.33%	3.49%	3.03%	10.97%	7.83%	29.20%	6.78%	3.45%	1.04%	1.58%
WHGSX Westwood Quality SmallCap Fund	5.35%	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 WHGSX and WHGIX in my portfolio?

WHGSX and WHGIX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WHGSX or WHGIX?

WHGSX has higher volatility (5.51%) compared to WHGIX (3.07%). In terms of maximum drawdown, WHGSX dropped -56.51% vs WHGIX's -24.14%.

Which has better risk-adjusted returns?

WHGIX currently has the higher Sharpe Ratio (2.30 vs 1.11), 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.