WSEFX vs. BTSMX

Last updated Aug 1, 2026

WSEFX (Boston Trust Walden Equity Fund) and BTSMX (Boston Trust SMID Cap Fund) are both mutual funds - WSEFX is a Large Cap Blend Equities fund managed by Boston Trust Walden, while BTSMX is a Mid Cap Blend Equities fund managed by Boston Trust Walden. Over the past 10 years, WSEFX returned 12.39%/yr vs 10.94%/yr for BTSMX. Their correlation of 0.87 means they have usually moved in the same direction. WSEFX charges 1.00%/yr vs 0.75%/yr for BTSMX.

Performance

WSEFX vs. BTSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Boston Trust Walden Equity Fund (WSEFX) and Boston Trust SMID Cap Fund (BTSMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WSEFX achieves a 11.27% return, which is significantly higher than BTSMX's 10.21% return. Over the past 10 years, WSEFX has outperformed BTSMX with an annualized return of 12.39%, while BTSMX has yielded a comparatively lower 10.94% annualized return.

WSEFX

• 1D: 1.33%
• 1M: 0.50%
• 6M: 9.55%
• YTD: 11.27%
• 1Y: 26.45%
• 3Y*: 12.27%
• 5Y*: 8.44%
• 10Y*: 12.39%
• ALL TIME*: 8.02%

BTSMX

• 1D: -0.33%
• 1M: 1.01%
• 6M: 7.29%
• YTD: 10.21%
• 1Y: 13.09%
• 3Y*: 8.73%
• 5Y*: 6.62%
• 10Y*: 10.94%
• ALL TIME*: 10.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BTSMX Boston Trust SMID Cap Fund	$0.00	$0.00	$0.00
WSEFX Boston Trust Walden Equity Fund	$0.00	$0.00	$0.00

WSEFX vs. BTSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WSEFX Boston Trust Walden Equity Fund	11.27%	13.26%	9.78%	16.31%	-13.53%	27.97%	13.57%	35.43%	-2.54%	15.84%
BTSMX Boston Trust SMID Cap Fund	10.21%	0.72%	10.16%	13.14%	-12.02%	35.06%	8.27%	30.51%	-5.63%	17.69%

Correlation

The correlation between WSEFX and BTSMX is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.66
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Dec 1, 2011	0.87

Over the past year, the correlation between WSEFX and BTSMX has dropped to 0.66 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.

Return for Risk

WSEFX vs. BTSMX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WSEFX

WSEFX Risk / Return Rank: 82
WSEFX Sharpe Ratio Rank: 83
WSEFX Sortino Ratio Rank: 81
WSEFX Omega Ratio Rank: 79
WSEFX Calmar Ratio Rank: 80
WSEFX Martin Ratio Rank: 89

BTSMX

BTSMX Risk / Return Rank: 27
BTSMX Sharpe Ratio Rank: 27
BTSMX Sortino Ratio Rank: 30
BTSMX Omega Ratio Rank: 26
BTSMX Calmar Ratio Rank: 29
BTSMX Martin Ratio Rank: 26

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WSEFX vs. BTSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Boston Trust Walden Equity Fund (WSEFX) and Boston Trust SMID Cap Fund (BTSMX). 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.

	WSEFX	BTSMX	Difference
Sharpe ratio: Return per unit of total volatility	2.01	0.90	+1.11
Sortino ratio: Return per unit of downside risk	2.86	1.44	+1.42
Omega ratio: Gain probability vs. loss probability	1.36	1.16	+0.20
Calmar ratio: Return relative to maximum drawdown	2.70	1.29	+1.41
Martin ratio: Return relative to average drawdown	12.27	3.63	+8.64

WSEFX vs. BTSMX - Sharpe Ratio Comparison

The current WSEFX Sharpe Ratio is 2.01, which is higher than the BTSMX Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of WSEFX and BTSMX, 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

WSEFX vs. BTSMX - Drawdown Comparison

The maximum WSEFX drawdown since its inception was -48.02%, which is greater than BTSMX's maximum drawdown of -38.04%. Use the drawdown chart below to compare losses from any high point for WSEFX and BTSMX.

Drawdown Indicators

	WSEFX	BTSMX	Difference
Max Drawdown Largest peak-to-trough decline	-48.02%	-38.04%	-9.98%
Max Drawdown (1Y) Largest decline over 1 year	-8.65%	-8.74%	+0.09%
Max Drawdown (3Y) Largest decline over 3 years	-17.49%	-20.28%	+2.79%
Max Drawdown (5Y) Largest decline over 5 years	-21.99%	-21.46%	-0.53%
Max Drawdown (10Y) Largest decline over 10 years	-33.50%	-38.04%	+4.54%
Current Drawdown Current decline from peak	-0.35%	-0.95%	+0.60%
Average Drawdown Average peak-to-trough decline	-6.05%	-4.96%	-1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	3.10%	-1.19%

Volatility

WSEFX vs. BTSMX - Volatility Comparison

The current volatility for Boston Trust Walden Equity Fund (WSEFX) is 2.99%, while Boston Trust SMID Cap Fund (BTSMX) has a volatility of 3.84%. This indicates that WSEFX experiences smaller price fluctuations and is considered to be less risky than BTSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WSEFX	BTSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	3.84%	-0.85%
Volatility (6M) Calculated over the trailing 6-month period	8.86%	8.67%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	11.60%	12.60%	-1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.61%	16.76%	-1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.25%	18.31%	-1.06%

WSEFX vs. BTSMX - Expense Ratio Comparison

WSEFX has a 1.00% expense ratio, which is higher than BTSMX's 0.75% expense ratio.

Dividends

WSEFX vs. BTSMX - Dividend Comparison

WSEFX's dividend yield for the trailing twelve months is around 10.38%, more than BTSMX's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTSMX Boston Trust SMID Cap Fund	1.86%	2.05%	2.20%	0.79%	4.15%	6.35%	0.77%	6.33%	1.95%	0.47%	6.36%	7.34%
WSEFX Boston Trust Walden Equity Fund	10.38%	11.55%	4.95%	2.99%	3.31%	2.24%	4.15%	5.27%	2.20%	0.92%	3.39%	6.82%

Frequently Asked Questions

Can I hold both WSEFX and BTSMX in my portfolio?

WSEFX and BTSMX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WSEFX or BTSMX?

BTSMX has higher volatility (3.84%) compared to WSEFX (2.99%). In terms of maximum drawdown, WSEFX dropped -48.02% vs BTSMX's -38.04%.

Which has better risk-adjusted returns?

WSEFX currently has the higher Sharpe Ratio (2.01 vs 0.90), 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.