WMICX vs. VFIAX

Last updated Jun 23, 2026

WMICX (Wasatch Micro Cap Fund) and VFIAX (Vanguard 500 Index Fund Admiral Shares) are both mutual funds - WMICX is a Small Cap Growth Equities fund managed by Wasatch, while VFIAX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, WMICX returned 14.85%/yr vs 15.54%/yr for VFIAX. A 0.80 correlation means they provide meaningful diversification when combined. WMICX charges 1.63%/yr vs 0.04%/yr for VFIAX.

Performance

WMICX vs. VFIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wasatch Micro Cap Fund (WMICX) and Vanguard 500 Index Fund Admiral Shares (VFIAX). 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 higher than VFIAX's 10.17% return. Both investments have delivered pretty close results over the past 10 years, with WMICX having a 14.85% annualized return and VFIAX not far ahead at 15.54%.

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%

VFIAX

• 1D: 1.09%
• 1M: 0.46%
• YTD: 10.17%
• 6M: 9.67%
• 1Y: 27.15%
• 3Y*: 20.95%
• 5Y*: 14.06%
• 10Y*: 15.54%

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

WMICX vs. VFIAX - 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%
VFIAX Vanguard 500 Index Fund Admiral Shares	10.17%	17.83%	24.97%	26.24%	-18.16%	28.65%	18.32%	31.46%	-4.45%	21.78%

Correlation

The correlation between WMICX and VFIAX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Nov 13, 2000	0.80

The correlation between WMICX and VFIAX has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.

Return for Risk

WMICX vs. VFIAX — 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

VFIAX

VFIAX Risk / Return Rank: 66
VFIAX Sharpe Ratio Rank: 64
VFIAX Sortino Ratio Rank: 58
VFIAX Omega Ratio Rank: 61
VFIAX Calmar Ratio Rank: 68
VFIAX Martin Ratio Rank: 79

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. VFIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch Micro Cap Fund (WMICX) and Vanguard 500 Index Fund Admiral Shares (VFIAX). 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	VFIAX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.17	-0.34
Sortino ratio: Return per unit of downside risk	2.64	2.93	-0.28
Omega ratio: Gain probability vs. loss probability	1.30	1.39	-0.09
Calmar ratio: Return relative to maximum drawdown	2.52	3.03	-0.51
Martin ratio: Return relative to average drawdown	8.72	13.72	-5.00

WMICX vs. VFIAX - Sharpe Ratio Comparison

The current WMICX Sharpe Ratio is 1.83, which is comparable to the VFIAX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of WMICX and VFIAX, 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. VFIAX - Drawdown Comparison

The maximum WMICX drawdown since its inception was -65.21%, which is greater than VFIAX's maximum drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for WMICX and VFIAX.

Drawdown Indicators

	WMICX	VFIAX	Difference
Max Drawdown Largest peak-to-trough decline	-65.21%	-55.20%	-10.01%
Max Drawdown (1Y) Largest decline over 1 year	-14.32%	-8.90%	-5.42%
Max Drawdown (3Y) Largest decline over 3 years	-29.44%	-18.75%	-10.69%
Max Drawdown (5Y) Largest decline over 5 years	-48.70%	-24.53%	-24.17%
Max Drawdown (10Y) Largest decline over 10 years	-50.96%	-33.83%	-17.13%
Current Drawdown Current decline from peak	-6.91%	-1.36%	-5.55%
Average Drawdown Average peak-to-trough decline	-13.33%	-9.38%	-3.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	1.96%	+2.17%

Volatility

WMICX vs. VFIAX - Volatility Comparison

Wasatch Micro Cap Fund (WMICX) has a higher volatility of 6.54% compared to Vanguard 500 Index Fund Admiral Shares (VFIAX) at 4.77%. This indicates that WMICX's price experiences larger fluctuations and is considered to be riskier than VFIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WMICX	VFIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.54%	4.77%	+1.77%
Volatility (6M) Calculated over the trailing 6-month period	14.47%	9.91%	+4.56%
Volatility (1Y) Calculated over the trailing 1-year period	19.77%	12.47%	+7.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.55%	17.00%	+7.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.41%	18.11%	+6.30%

WMICX vs. VFIAX - Expense Ratio Comparison

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

Dividends

WMICX vs. VFIAX - Dividend Comparison

WMICX has not paid dividends to shareholders, while VFIAX's dividend yield for the trailing twelve months is around 1.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VFIAX Vanguard 500 Index Fund Admiral Shares	1.03%	1.12%	1.24%	1.45%	1.68%	1.24%	1.53%	1.87%	2.05%	1.78%	2.02%	2.10%
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 VFIAX in my portfolio?

WMICX and VFIAX have a correlation of 0.74, 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 VFIAX?

WMICX has higher volatility (6.54%) compared to VFIAX (4.77%). In terms of maximum drawdown, WMICX dropped -65.21% vs VFIAX's -55.20%.

Which has better risk-adjusted returns?

VFIAX currently has the higher Sharpe Ratio (2.17 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.