WITAX vs. SBHVX

Last updated Jun 3, 2026

WITAX (Segall Bryant & Hamill Municipal Opportunities Fund) and SBHVX (Segall Bryant & Hamill Small Cap Value Fund) are both mutual funds - WITAX is a Municipal Bonds fund managed by Segall Bryant & Hamill, while SBHVX is a Small Cap Blend Equities fund managed by Segall Bryant & Hamill. Over the past 5 years, WITAX returned 0.91%/yr vs 7.11%/yr for SBHVX. At a 0.01 correlation, their price movements are largely independent. WITAX charges 0.50%/yr vs 0.97%/yr for SBHVX.

Performance

WITAX vs. SBHVX - 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 Value Fund (SBHVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WITAX achieves a 1.43% return, which is significantly lower than SBHVX's 18.96% return.

WITAX

• 1D: 0.00%
• 1M: 0.49%
• YTD: 1.43%
• 6M: 1.77%
• 1Y: 6.41%
• 3Y*: 4.65%
• 5Y*: 0.91%
• 10Y*: —

SBHVX

• 1D: -0.22%
• 1M: 2.35%
• YTD: 18.96%
• 6M: 21.41%
• 1Y: 45.27%
• 3Y*: 17.84%
• 5Y*: 7.11%
• 10Y*: 10.39%

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

WITAX vs. SBHVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WITAX Segall Bryant & Hamill Municipal Opportunities Fund	1.43%	5.32%	3.09%	5.50%	-11.11%	2.87%	6.71%	7.20%	1.46%	8.57%
SBHVX Segall Bryant & Hamill Small Cap Value Fund	18.96%	12.27%	12.31%	11.97%	-14.66%	16.61%	6.22%	24.65%	-4.54%	10.09%

Correlation

The correlation between WITAX and SBHVX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.01

The correlation between WITAX and SBHVX shifts across timeframes, from 0.01 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

WITAX vs. SBHVX — Risk / Return Rank

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

WITAX

WITAX Risk / Return Rank: 82
WITAX Sharpe Ratio Rank: 95
WITAX Sortino Ratio Rank: 96
WITAX Omega Ratio Rank: 96
WITAX Calmar Ratio Rank: 65
WITAX Martin Ratio Rank: 59

SBHVX

SBHVX Risk / Return Rank: 60
SBHVX Sharpe Ratio Rank: 57
SBHVX Sortino Ratio Rank: 56
SBHVX Omega Ratio Rank: 49
SBHVX Calmar Ratio Rank: 78
SBHVX Martin Ratio Rank: 62

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. SBHVX - 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 Value Fund (SBHVX). 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.

	WITAX	SBHVX	Difference
Sharpe ratio Return per unit of total volatility	3.41	2.23	+1.19
Sortino ratio Return per unit of downside risk	5.41	3.17	+2.24
Omega ratio Gain probability vs. loss probability	1.84	1.38	+0.46
Calmar ratio Return relative to maximum drawdown	3.11	3.58	-0.46
Martin ratio Return relative to average drawdown	11.84	12.17	-0.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WITAX vs. SBHVX - Sharpe Ratio Comparison

The current WITAX Sharpe Ratio is 3.41, which is higher than the SBHVX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of WITAX and SBHVX, 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

	WITAX	SBHVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.41	2.23	+1.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.34	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	0.44	+0.58

Drawdowns

WITAX vs. SBHVX - Drawdown Comparison

The maximum WITAX drawdown since its inception was -13.87%, smaller than the maximum SBHVX drawdown of -41.54%. Use the drawdown chart below to compare losses from any high point for WITAX and SBHVX.

Drawdown Indicators

	WITAX	SBHVX	Difference
Max Drawdown Largest peak-to-trough decline	-13.87%	-41.54%	+27.67%
Max Drawdown (1Y) Largest decline over 1 year	-2.02%	-12.18%	+10.16%
Max Drawdown (3Y) Largest decline over 3 years	-3.27%	-29.43%	+26.16%
Max Drawdown (5Y) Largest decline over 5 years	-13.87%	-29.43%	+15.56%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.54%	—
Current Drawdown Current decline from peak	-0.35%	-0.89%	+0.54%
Average Drawdown Average peak-to-trough decline	-2.94%	-7.27%	+4.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	3.58%	-3.05%

Volatility

WITAX vs. SBHVX - Volatility Comparison

The current volatility for Segall Bryant & Hamill Municipal Opportunities Fund (WITAX) is 0.73%, while Segall Bryant & Hamill Small Cap Value Fund (SBHVX) has a volatility of 5.32%. This indicates that WITAX experiences smaller price fluctuations and is considered to be less risky than SBHVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WITAX	SBHVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	5.32%	-4.59%
Volatility (6M) Calculated over the trailing 6-month period	1.39%	13.65%	-12.26%
Volatility (1Y) Calculated over the trailing 1-year period	1.86%	20.15%	-18.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.90%	21.24%	-18.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.11%	21.29%	-18.18%

WITAX vs. SBHVX - Expense Ratio Comparison

WITAX has a 0.50% expense ratio, which is lower than SBHVX's 0.97% expense ratio.

Dividends

WITAX vs. SBHVX - Dividend Comparison

WITAX's dividend yield for the trailing twelve months is around 3.19%, less than SBHVX's 9.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SBHVX Segall Bryant & Hamill Small Cap Value Fund	9.79%	11.65%	4.61%	1.37%	1.25%	4.66%	0.95%	6.05%	10.28%	6.78%	0.22%	5.76%
WITAX Segall Bryant & Hamill Municipal Opportunities Fund	3.19%	3.49%	3.68%	3.61%	3.17%	2.75%	3.30%	4.19%	3.56%	3.76%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WITAX and SBHVX in my portfolio?

WITAX and SBHVX have a correlation of 0.19, 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 SBHVX?

SBHVX has higher volatility (5.32%) compared to WITAX (0.73%). In terms of maximum drawdown, WITAX dropped -13.87% vs SBHVX's -41.54%.

Which has better risk-adjusted returns?

WITAX currently has the higher Sharpe Ratio (3.41 vs 2.23), 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.