WITAX vs. SBASX

Last updated Jun 23, 2026

WITAX (Segall Bryant & Hamill Municipal Opportunities Fund) and SBASX (Segall Bryant & Hamill Small Cap Core Fund) are both mutual funds - WITAX is a Municipal Bonds fund managed by Segall Bryant & Hamill, while SBASX is a Small Cap Growth Equities fund managed by Segall Bryant & Hamill. Over the past 5 years, WITAX returned 0.90%/yr vs 8.87%/yr for SBASX. At a 0.09 correlation, their price movements are largely independent. WITAX charges 0.50%/yr vs 0.99%/yr for SBASX.

Performance

WITAX vs. SBASX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Segall Bryant & Hamill Municipal Opportunities Fund (WITAX) and Segall Bryant & Hamill Small Cap Core Fund (SBASX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WITAX achieves a 1.84% return, which is significantly lower than SBASX's 20.42% return.

WITAX

• 1D: 0.10%
• 1M: 1.31%
• YTD: 1.84%
• 6M: 2.08%
• 1Y: 6.17%
• 3Y*: 4.68%
• 5Y*: 0.90%
• 10Y*: —

SBASX

• 1D: 2.11%
• 1M: 7.61%
• YTD: 20.42%
• 6M: 17.58%
• 1Y: 32.53%
• 3Y*: 15.43%
• 5Y*: 8.87%
• 10Y*: —

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

WITAX vs. SBASX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
WITAX Segall Bryant & Hamill Municipal Opportunities Fund	1.84%	5.32%	3.09%	5.50%	-11.11%	2.87%	6.71%	0.00%
SBASX Segall Bryant & Hamill Small Cap Core Fund	20.42%	3.95%	11.89%	13.96%	-13.13%	23.52%	22.80%	0.00%

Correlation

The correlation between WITAX and SBASX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (All Time) Calculated using the full available price history since Dec 31, 2019	0.09

The correlation between WITAX and SBASX shifts across timeframes, from 0.09 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

WITAX vs. SBASX — Risk / Return Rank

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

WITAX

WITAX Risk / Return Rank: 85
WITAX Sharpe Ratio Rank: 98
WITAX Sortino Ratio Rank: 97
WITAX Omega Ratio Rank: 97
WITAX Calmar Ratio Rank: 70
WITAX Martin Ratio Rank: 63

SBASX

SBASX Risk / Return Rank: 48
SBASX Sharpe Ratio Rank: 43
SBASX Sortino Ratio Rank: 46
SBASX Omega Ratio Rank: 38
SBASX Calmar Ratio Rank: 59
SBASX Martin Ratio Rank: 54

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.

WITAX vs. SBASX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Segall Bryant & Hamill Municipal Opportunities Fund (WITAX) and Segall Bryant & Hamill Small Cap Core Fund (SBASX). 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.

	WITAX	SBASX	Difference
Sharpe ratio: Return per unit of total volatility	3.42	1.77	+1.64
Sortino ratio: Return per unit of downside risk	5.43	2.62	+2.81
Omega ratio: Gain probability vs. loss probability	1.86	1.31	+0.56
Calmar ratio: Return relative to maximum drawdown	3.07	2.83	+0.24
Martin ratio: Return relative to average drawdown	11.61	10.27	+1.34

WITAX vs. SBASX - Sharpe Ratio Comparison

The current WITAX Sharpe Ratio is 3.42, which is higher than the SBASX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of WITAX and SBASX, 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

WITAX vs. SBASX - Drawdown Comparison

The maximum WITAX drawdown since its inception was -13.87%, smaller than the maximum SBASX drawdown of -34.34%. Use the drawdown chart below to compare losses from any high point for WITAX and SBASX.

Drawdown Indicators

	WITAX	SBASX	Difference
Max Drawdown Largest peak-to-trough decline	-13.87%	-34.34%	+20.47%
Max Drawdown (1Y) Largest decline over 1 year	-2.02%	-11.44%	+9.42%
Max Drawdown (3Y) Largest decline over 3 years	-3.27%	-26.56%	+23.29%
Max Drawdown (5Y) Largest decline over 5 years	-13.87%	-26.56%	+12.69%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.92%	-8.21%	+5.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	3.14%	-2.61%

Volatility

WITAX vs. SBASX - Volatility Comparison

The current volatility for Segall Bryant & Hamill Municipal Opportunities Fund (WITAX) is 0.53%, while Segall Bryant & Hamill Small Cap Core Fund (SBASX) has a volatility of 5.99%. This indicates that WITAX experiences smaller price fluctuations and is considered to be less risky than SBASX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WITAX	SBASX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.53%	5.99%	-5.46%
Volatility (6M) Calculated over the trailing 6-month period	1.40%	13.75%	-12.35%
Volatility (1Y) Calculated over the trailing 1-year period	1.81%	18.22%	-16.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.90%	19.88%	-16.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.10%	22.22%	-19.12%

WITAX vs. SBASX - Expense Ratio Comparison

WITAX has a 0.50% expense ratio, which is lower than SBASX's 0.99% expense ratio.

Dividends

WITAX vs. SBASX - Dividend Comparison

WITAX's dividend yield for the trailing twelve months is around 3.17%, less than SBASX's 4.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SBASX Segall Bryant & Hamill Small Cap Core Fund	4.64%	5.58%	5.48%	3.65%	2.10%	18.57%	0.00%	0.00%	0.00%	0.00%
WITAX Segall Bryant & Hamill Municipal Opportunities Fund	3.17%	3.49%	3.68%	3.61%	3.17%	2.75%	3.30%	4.19%	3.56%	3.76%

Frequently Asked Questions

Can I hold both WITAX and SBASX in my portfolio?

WITAX and SBASX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WITAX or SBASX?

SBASX has higher volatility (5.99%) compared to WITAX (0.53%). In terms of maximum drawdown, WITAX dropped -13.87% vs SBASX's -34.34%.

Which has better risk-adjusted returns?

WITAX currently has the higher Sharpe Ratio (3.42 vs 1.77), 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.