WPOPX vs. LONGX
WPOPX (Weitz Partners III Opportunity Fund) and LONGX (Longboard Fund) are both Long-Short funds. Over the past 10 years, WPOPX returned 6.76%/yr vs 24.60%/yr for LONGX. Their 0.56 correlation means they have sometimes moved together and sometimes differently. WPOPX charges 1.43%/yr vs 1.99%/yr for LONGX.
Performance
WPOPX vs. LONGX - Performance Comparison
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Returns By Period
In the year-to-date period, WPOPX achieves a 4.32% return, which is significantly lower than LONGX's 13.15% return. Over the past 10 years, WPOPX has underperformed LONGX with an annualized return of 6.76%, while LONGX has yielded a comparatively higher 24.60% annualized return.
WPOPX
- 1D
- 0.52%
- 1M
- 2.19%
- 6M
- 3.92%
- YTD
- 4.32%
- 1Y
- 8.92%
- 3Y*
- 8.64%
- 5Y*
- 2.48%
- 10Y*
- 6.76%
- ALL TIME*
- 6.96%
LONGX
- 1D
- -0.12%
- 1M
- -0.53%
- 6M
- 8.24%
- YTD
- 13.15%
- 1Y
- 17.71%
- 3Y*
- 10.43%
- 5Y*
- 4.85%
- 10Y*
- 24.60%
- ALL TIME*
- 21.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
LONGX Longboard Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
WPOPX vs. LONGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WPOPX Weitz Partners III Opportunity Fund | 4.32% | 3.23% | 16.32% | 17.35% | -22.53% | 12.55% | 9.45% | 34.24% | -5.26% | 5.48% |
LONGX Longboard Fund | 13.15% | 1.49% | 14.95% | 5.64% | -13.21% | 13.89% | 27.70% | 13.82% | 270.32% | 19.08% |
Correlation
The correlation between WPOPX and LONGX is 0.49, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.49 |
Correlation (3Y) Balances recent behavior with more history. | 0.67 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.70 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2015 | 0.56 |
The correlation between WPOPX and LONGX shifts across timeframes, from 0.49 (1 year) to 0.70 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
WPOPX vs. LONGX — Risk / Return Rank
WPOPX
LONGX
WPOPX vs. LONGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Weitz Partners III Opportunity Fund (WPOPX) and Longboard Fund (LONGX). 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.
| WPOPX | LONGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.27 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | 2.35 | -1.75 |
| Martin ratioReturn relative to average drawdown | 1.72 | 8.92 | -7.20 |
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Drawdowns
WPOPX vs. LONGX - Drawdown Comparison
The maximum WPOPX drawdown since its inception was -55.70%, smaller than the maximum LONGX drawdown of -77.16%. Use the drawdown chart below to compare losses from any high point for WPOPX and LONGX.
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Drawdown Indicators
| WPOPX | LONGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.70% | -77.16% | +21.46% |
Max Drawdown (1Y)Largest decline over 1 year | -12.44% | -7.09% | -5.35% |
Max Drawdown (3Y)Largest decline over 3 years | -14.79% | -14.57% | -0.22% |
Max Drawdown (5Y)Largest decline over 5 years | -28.73% | -19.28% | -9.45% |
Max Drawdown (10Y)Largest decline over 10 years | -28.73% | -77.16% | +48.43% |
Current DrawdownCurrent decline from peak | 0.00% | -1.51% | +1.51% |
Average DrawdownAverage peak-to-trough decline | -8.31% | -7.28% | -1.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.30% | 1.86% | +2.44% |
Volatility
WPOPX vs. LONGX - Volatility Comparison
Weitz Partners III Opportunity Fund (WPOPX) has a higher volatility of 4.17% compared to Longboard Fund (LONGX) at 2.40%. This indicates that WPOPX's price experiences larger fluctuations and is considered to be riskier than LONGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WPOPX | LONGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | 2.40% | +1.77% |
Volatility (6M)Calculated over the trailing 6-month period | 9.89% | 8.21% | +1.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.65% | 10.97% | +1.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.03% | 11.87% | +4.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.98% | 137.73% | -121.75% |
WPOPX vs. LONGX - Expense Ratio Comparison
WPOPX has a 1.43% expense ratio, which is lower than LONGX's 1.99% expense ratio.
Dividends
WPOPX vs. LONGX - Dividend Comparison
WPOPX's dividend yield for the trailing twelve months is around 5.39%, while LONGX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LONGX Longboard Fund | 0.00% | 0.00% | 0.00% | 5.40% | 7.64% | 1.73% | 0.00% | 0.00% | 3.10% | 268.50% | 23.29% | 0.00% |
WPOPX Weitz Partners III Opportunity Fund | 5.39% | 5.62% | 7.04% | 6.85% | 8.47% | 11.86% | 12.50% | 6.51% | 7.99% | 4.65% | 1.35% | 13.50% |
Frequently Asked Questions
WPOPX and LONGX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WPOPX has higher volatility (4.17%) compared to LONGX (2.40%). In terms of maximum drawdown, WPOPX dropped -55.70% vs LONGX's -77.16%.
LONGX currently has the higher Sharpe Ratio (1.52 vs 0.59), 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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