WPOPX vs. WBALX

Last updated Jun 23, 2026

WPOPX (Weitz Partners III Opportunity Fund) and WBALX (Weitz Balanced Fund) are both mutual funds - WPOPX is a Long-Short fund managed by Weitz, while WBALX is a Diversified Portfolio fund managed by Weitz. Over the past 10 years, WPOPX returned 6.18%/yr vs 5.53%/yr for WBALX. Their correlation of 0.90 suggests significant overlap in exposure. WPOPX charges 1.43%/yr vs 0.85%/yr for WBALX.

Performance

WPOPX vs. WBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Weitz Partners III Opportunity Fund (WPOPX) and Weitz Balanced Fund (WBALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WPOPX achieves a -3.40% return, which is significantly lower than WBALX's -0.86% return. Over the past 10 years, WPOPX has outperformed WBALX with an annualized return of 6.18%, while WBALX has yielded a comparatively lower 5.53% annualized return.

WPOPX

• 1D: 0.16%
• 1M: -0.79%
• YTD: -3.40%
• 6M: -3.84%
• 1Y: 0.17%
• 3Y*: 7.63%
• 5Y*: 1.54%
• 10Y*: 6.18%

WBALX

• 1D: 0.12%
• 1M: 0.90%
• YTD: -0.86%
• 6M: -1.09%
• 1Y: 2.82%
• 3Y*: 4.47%
• 5Y*: 2.88%
• 10Y*: 5.53%

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

WPOPX vs. WBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WPOPX Weitz Partners III Opportunity Fund	-3.40%	3.23%	16.32%	17.35%	-22.53%	12.55%	9.45%	34.24%	-5.26%	5.48%
WBALX Weitz Balanced Fund	-0.86%	3.77%	6.85%	9.27%	-9.95%	13.11%	8.13%	17.94%	-1.79%	11.16%

Correlation

The correlation between WPOPX and WBALX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Dec 30, 2005	0.90

The correlation between WPOPX and WBALX has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

Return for Risk

WPOPX vs. WBALX — Risk / Return Rank

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

WPOPX

WPOPX Risk / Return Rank: 3
WPOPX Sharpe Ratio Rank: 3
WPOPX Sortino Ratio Rank: 3
WPOPX Omega Ratio Rank: 3
WPOPX Calmar Ratio Rank: 3
WPOPX Martin Ratio Rank: 3

WBALX

WBALX Risk / Return Rank: 6
WBALX Sharpe Ratio Rank: 6
WBALX Sortino Ratio Rank: 6
WBALX Omega Ratio Rank: 5
WBALX Calmar Ratio Rank: 5
WBALX Martin Ratio Rank: 6

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.

WPOPX vs. WBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Weitz Partners III Opportunity Fund (WPOPX) and Weitz Balanced Fund (WBALX). 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	WBALX	Difference
Sharpe ratio: Return per unit of total volatility	0.03	0.42	-0.39
Sortino ratio: Return per unit of downside risk	0.13	0.66	-0.53
Omega ratio: Gain probability vs. loss probability	1.02	1.07	-0.06
Calmar ratio: Return relative to maximum drawdown	0.03	0.43	-0.40
Martin ratio: Return relative to average drawdown	0.09	1.27	-1.18

WPOPX vs. WBALX - Sharpe Ratio Comparison

The current WPOPX Sharpe Ratio is 0.03, which is lower than the WBALX Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of WPOPX and WBALX, 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

WPOPX vs. WBALX - Drawdown Comparison

The maximum WPOPX drawdown since its inception was -55.70%, which is greater than WBALX's maximum drawdown of -43.04%. Use the drawdown chart below to compare losses from any high point for WPOPX and WBALX.

Drawdown Indicators

	WPOPX	WBALX	Difference
Max Drawdown Largest peak-to-trough decline	-55.70%	-43.04%	-12.66%
Max Drawdown (1Y) Largest decline over 1 year	-12.44%	-6.02%	-6.42%
Max Drawdown (3Y) Largest decline over 3 years	-14.79%	-6.82%	-7.97%
Max Drawdown (5Y) Largest decline over 5 years	-28.73%	-14.81%	-13.92%
Max Drawdown (10Y) Largest decline over 10 years	-28.73%	-15.93%	-12.80%
Current Drawdown Current decline from peak	-5.66%	-2.55%	-3.11%
Average Drawdown Average peak-to-trough decline	-8.34%	-4.11%	-4.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.30%	2.03%	+2.27%

Volatility

WPOPX vs. WBALX - Volatility Comparison

Weitz Partners III Opportunity Fund (WPOPX) has a higher volatility of 3.95% compared to Weitz Balanced Fund (WBALX) at 2.15%. This indicates that WPOPX's price experiences larger fluctuations and is considered to be riskier than WBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WPOPX	WBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	2.15%	+1.80%
Volatility (6M) Calculated over the trailing 6-month period	9.24%	4.88%	+4.36%
Volatility (1Y) Calculated over the trailing 1-year period	12.19%	6.16%	+6.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.93%	7.39%	+8.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.99%	7.71%	+8.28%

WPOPX vs. WBALX - Expense Ratio Comparison

WPOPX has a 1.43% expense ratio, which is higher than WBALX's 0.85% expense ratio.

Dividends

WPOPX vs. WBALX - Dividend Comparison

WPOPX's dividend yield for the trailing twelve months is around 5.82%, less than WBALX's 6.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WBALX Weitz Balanced Fund	6.65%	4.95%	4.98%	1.11%	1.95%	2.57%	1.08%	1.88%	9.78%	2.72%	3.26%	5.51%
WPOPX Weitz Partners III Opportunity Fund	5.82%	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

Can I hold both WPOPX and WBALX in my portfolio?

WPOPX and WBALX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WPOPX or WBALX?

WPOPX has higher volatility (3.95%) compared to WBALX (2.15%). In terms of maximum drawdown, WPOPX dropped -55.70% vs WBALX's -43.04%.

Which has better risk-adjusted returns?

WBALX currently has the higher Sharpe Ratio (0.42 vs 0.03), 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.