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WMICX vs. WALSX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

WMICX vs. WALSX

Last updated Jul 11, 2026
Documentation

WMICX (Wasatch Micro Cap Fund) and WALSX (Wasatch Long/Short Alpha Fund) are both mutual funds - WMICX is a Small Cap Growth Equities fund managed by Wasatch, while WALSX is a Long-Short fund managed by Wasatch. Over the past 3 years, WMICX returned 16.23%/yr vs 7.45%/yr for WALSX. A 0.75 correlation means they provide meaningful diversification when combined. WMICX charges 1.63%/yr vs 1.75%/yr for WALSX.

Performance

WMICX vs. WALSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wasatch Micro Cap Fund (WMICX) and Wasatch Long/Short Alpha Fund (WALSX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, WMICX achieves a 18.80% return, which is significantly higher than WALSX's 10.51% return.

WMICX

1D
0.98%
1M
3.21%
6M
12.57%
YTD
18.80%
1Y
32.56%
3Y*
16.23%
5Y*
0.32%
10Y*
14.40%

WALSX

1D
0.30%
1M
3.75%
6M
5.69%
YTD
10.51%
1Y
0.89%
3Y*
7.45%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

WMICX vs. WALSX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
WMICX
Wasatch Micro Cap Fund		18.80%4.84%20.91%22.58%-40.64%-1.16%
WALSX
Wasatch Long/Short Alpha Fund		10.51%-12.79%7.24%27.75%-8.38%12.20%

Correlation

The correlation between WMICX and WALSX is 0.54, 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

0.54

Correlation (3Y)
Calculated over the trailing 3-year period

0.70

Correlation (All Time)
Calculated using the full available price history since Oct 1, 2021

0.75

Over the past year, the correlation between WMICX and WALSX has dropped to 0.54 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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Wasatch Micro Cap Fund

Wasatch Long/Short Alpha Fund

Often compared with WMICX:
WMICX vs. SWSSXWMICX vs. WAMVXWMICX vs. AVALXWMICX vs. PVIVXWMICX vs. RYSEXWMICX vs. FCPGXWMICX vs. USNQX
Often compared with WALSX:
WALSX vs. QLEIXWALSX vs. IVVWALSX vs. QLENXWALSX vs. SPYWALSX vs. ASILXWALSX vs. VMNIXWALSX vs. WTLS

Return for Risk

WMICX vs. WALSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
WMICX
WMICX Risk / Return Rank: 4545
Overall Rank
WMICX Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
WMICX Sortino Ratio Rank: 4949
Sortino Ratio Rank
WMICX Omega Ratio Rank: 3838
Omega Ratio Rank
WMICX Calmar Ratio Rank: 4747
Calmar Ratio Rank
WMICX Martin Ratio Rank: 4343
Martin Ratio Rank
WALSX
WALSX Risk / Return Rank: 33
Overall Rank
WALSX Sharpe Ratio Rank: 33
Sharpe Ratio Rank
WALSX Sortino Ratio Rank: 44
Sortino Ratio Rank
WALSX Omega Ratio Rank: 33
Omega Ratio Rank
WALSX Calmar Ratio Rank: 44
Calmar Ratio Rank
WALSX Martin Ratio Rank: 33
Martin Ratio Rank
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. WALSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch Micro Cap Fund (WMICX) and Wasatch Long/Short Alpha Fund (WALSX). 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.

WMICXWALSXDifference
Sharpe ratioReturn per unit of total volatility
1.51
0.01

+1.50

Sortino ratioReturn per unit of downside risk
2.24
0.14

+2.10

Omega ratioGain probability vs. loss probability

1.25

1.01

+0.24

Calmar ratioReturn relative to maximum drawdown

2.10

0.01

+2.08

Martin ratioReturn relative to average drawdown

7.32

0.02

+7.29

WMICX vs. WALSX - Sharpe Ratio Comparison

The current WMICX Sharpe Ratio is 1.51, which is higher than the WALSX Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of WMICX and WALSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

WMICX vs. WALSX - Drawdown Comparison

The maximum WMICX drawdown since its inception was -65.21%, which is greater than WALSX's maximum drawdown of -25.28%. Use the drawdown chart below to compare losses from any high point for WMICX and WALSX.

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Drawdown Indicators

WMICXWALSXDifference

Max Drawdown

Largest peak-to-trough decline

-65.21%

-25.28%

-39.93%

Max Drawdown (1Y)

Largest decline over 1 year

-14.32%

-11.16%

-3.16%

Max Drawdown (3Y)

Largest decline over 3 years

-29.44%

-25.28%

-4.16%

Max Drawdown (5Y)

Largest decline over 5 years

-48.70%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-50.96%

—

—

Current Drawdown

Current decline from peak

-6.45%

-15.14%

+8.69%

Average Drawdown

Average peak-to-trough decline

-13.32%

-9.67%

-3.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.10%

6.00%

-1.90%

Volatility

WMICX vs. WALSX - Volatility Comparison

Wasatch Micro Cap Fund (WMICX) has a higher volatility of 6.17% compared to Wasatch Long/Short Alpha Fund (WALSX) at 5.11%. This indicates that WMICX's price experiences larger fluctuations and is considered to be riskier than WALSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

WMICXWALSXDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.17%

5.11%

+1.06%

Volatility (6M)

Calculated over the trailing 6-month period

14.70%

12.10%

+2.60%

Volatility (1Y)

Calculated over the trailing 1-year period

19.91%

16.23%

+3.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.60%

16.37%

+8.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.38%

16.37%

+8.01%

WMICX vs. WALSX - Expense Ratio Comparison

WMICX has a 1.63% expense ratio, which is lower than WALSX's 1.75% expense ratio.

Dividends

WMICX vs. WALSX - Dividend Comparison

Neither WMICX nor WALSX has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
WALSX
Wasatch Long/Short Alpha Fund		0.00%0.00%0.00%0.00%0.09%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
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

WMICX and WALSX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

WMICX has higher volatility (6.17%) compared to WALSX (5.11%). In terms of maximum drawdown, WMICX dropped -65.21% vs WALSX's -25.28%.

WMICX currently has the higher Sharpe Ratio (1.51 vs 0.01), 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.

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