WMICX vs. SWSSX

Last updated Jun 23, 2026

WMICX (Wasatch Micro Cap Fund) and SWSSX (Schwab Small-Cap Index Fund-Select Shares) are both mutual funds - WMICX is a Small Cap Growth Equities fund managed by Wasatch, while SWSSX is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Over the past 10 years, WMICX returned 14.85%/yr vs 11.44%/yr for SWSSX. Their correlation of 0.90 suggests significant overlap in exposure. WMICX charges 1.63%/yr vs 0.04%/yr for SWSSX.

Performance

WMICX vs. SWSSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wasatch Micro Cap Fund (WMICX) and Schwab Small-Cap Index Fund-Select Shares (SWSSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WMICX achieves a 18.22% return, which is significantly lower than SWSSX's 20.72% return. Over the past 10 years, WMICX has outperformed SWSSX with an annualized return of 14.85%, while SWSSX has yielded a comparatively lower 11.44% annualized return.

WMICX

• 1D: 2.40%
• 1M: 6.55%
• YTD: 18.22%
• 6M: 15.30%
• 1Y: 35.94%
• 3Y*: 16.04%
• 5Y*: 0.38%
• 10Y*: 14.85%

SWSSX

• 1D: 2.10%
• 1M: 3.96%
• YTD: 20.72%
• 6M: 17.16%
• 1Y: 43.08%
• 3Y*: 18.36%
• 5Y*: 7.40%
• 10Y*: 11.44%

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

WMICX vs. SWSSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WMICX Wasatch Micro Cap Fund	18.22%	4.84%	20.91%	22.58%	-40.64%	4.51%	64.84%	42.31%	1.73%	36.17%
SWSSX Schwab Small-Cap Index Fund-Select Shares	20.72%	12.88%	11.57%	17.07%	-20.43%	14.77%	20.12%	25.63%	-11.19%	14.76%

Correlation

The correlation between WMICX and SWSSX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 2, 1998	0.90

The correlation between WMICX and SWSSX has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

Return for Risk

WMICX vs. SWSSX — Risk / Return Rank

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

WMICX

WMICX Risk / Return Rank: 44
WMICX Sharpe Ratio Rank: 45
WMICX Sortino Ratio Rank: 46
WMICX Omega Ratio Rank: 37
WMICX Calmar Ratio Rank: 48
WMICX Martin Ratio Rank: 44

SWSSX

SWSSX Risk / Return Rank: 69
SWSSX Sharpe Ratio Rank: 66
SWSSX Sortino Ratio Rank: 61
SWSSX Omega Ratio Rank: 50
SWSSX Calmar Ratio Rank: 86
SWSSX Martin Ratio Rank: 80

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.

WMICX vs. SWSSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch Micro Cap Fund (WMICX) and Schwab Small-Cap Index Fund-Select Shares (SWSSX). 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.

	WMICX	SWSSX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.18	-0.36
Sortino ratio: Return per unit of downside risk	2.64	2.99	-0.35
Omega ratio: Gain probability vs. loss probability	1.30	1.36	-0.06
Calmar ratio: Return relative to maximum drawdown	2.52	3.91	-1.39
Martin ratio: Return relative to average drawdown	8.72	13.84	-5.12

WMICX vs. SWSSX - Sharpe Ratio Comparison

The current WMICX Sharpe Ratio is 1.83, which is comparable to the SWSSX Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of WMICX and SWSSX, 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

WMICX vs. SWSSX - Drawdown Comparison

The maximum WMICX drawdown since its inception was -65.21%, which is greater than SWSSX's maximum drawdown of -60.34%. Use the drawdown chart below to compare losses from any high point for WMICX and SWSSX.

Drawdown Indicators

	WMICX	SWSSX	Difference
Max Drawdown Largest peak-to-trough decline	-65.21%	-60.34%	-4.87%
Max Drawdown (1Y) Largest decline over 1 year	-14.32%	-11.00%	-3.32%
Max Drawdown (3Y) Largest decline over 3 years	-29.44%	-27.50%	-1.94%
Max Drawdown (5Y) Largest decline over 5 years	-48.70%	-31.93%	-16.77%
Max Drawdown (10Y) Largest decline over 10 years	-50.96%	-41.81%	-9.15%
Current Drawdown Current decline from peak	-6.91%	0.00%	-6.91%
Average Drawdown Average peak-to-trough decline	-13.33%	-10.71%	-2.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	3.10%	+1.03%

Volatility

WMICX vs. SWSSX - Volatility Comparison

Wasatch Micro Cap Fund (WMICX) and Schwab Small-Cap Index Fund-Select Shares (SWSSX) have volatilities of 6.54% and 6.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WMICX	SWSSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.54%	6.76%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	14.47%	14.36%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	19.77%	19.71%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.55%	22.68%	+1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.41%	24.14%	+0.27%

WMICX vs. SWSSX - Expense Ratio Comparison

WMICX has a 1.63% expense ratio, which is higher than SWSSX's 0.04% expense ratio.

Dividends

WMICX vs. SWSSX - Dividend Comparison

WMICX has not paid dividends to shareholders, while SWSSX's dividend yield for the trailing twelve months is around 1.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWSSX Schwab Small-Cap Index Fund-Select Shares	1.07%	1.29%	1.66%	1.49%	1.32%	8.88%	2.55%	6.12%	10.45%	5.22%	4.10%	6.92%
WMICX Wasatch Micro Cap Fund	0.00%	0.00%	0.00%	0.00%	0.00%	30.82%	5.68%	11.40%	29.75%	15.30%	9.30%	16.58%

Frequently Asked Questions

Can I hold both WMICX and SWSSX in my portfolio?

WMICX and SWSSX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WMICX or SWSSX?

SWSSX has higher volatility (6.76%) compared to WMICX (6.54%). In terms of maximum drawdown, WMICX dropped -65.21% vs SWSSX's -60.34%.

Which has better risk-adjusted returns?

SWSSX currently has the higher Sharpe Ratio (2.18 vs 1.83), 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.