WTLS vs. BIVRX

Last updated Jun 4, 2026

WTLS (WisdomTree Efficient Long/Short US Equity Fund) and BIVRX (Invenomic Fund) are both Long-Short funds. At a correlation of -0.31, they often move in opposite directions. WTLS charges 0.88%/yr vs 2.48%/yr for BIVRX.

Performance

WTLS vs. BIVRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Efficient Long/Short US Equity Fund (WTLS) and Invenomic Fund (BIVRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

WTLS

• 1D: -1.04%
• 1M: 9.27%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIVRX

• 1D: -2.33%
• 1M: -8.20%
• YTD: -15.45%
• 6M: -10.79%
• 1Y: -10.04%
• 3Y*: -5.34%
• 5Y*: 5.72%
• 10Y*: —

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

WTLS vs. BIVRX - Yearly Performance Comparison

	2026 (YTD)
WTLS WisdomTree Efficient Long/Short US Equity Fund	20.44%
BIVRX Invenomic Fund	-12.63%

Correlation

The correlation between WTLS and BIVRX is -0.31, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 23, 2026	-0.31

Return for Risk

WTLS vs. BIVRX — Risk / Return Rank

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

BIVRX

BIVRX Risk / Return Rank: 1
BIVRX Sharpe Ratio Rank: 1
BIVRX Sortino Ratio Rank: 1
BIVRX Omega Ratio Rank: 1
BIVRX Calmar Ratio Rank: 1
BIVRX Martin Ratio Rank: 1

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.

WTLS vs. BIVRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Efficient Long/Short US Equity Fund (WTLS) and Invenomic Fund (BIVRX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	WTLS	BIVRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.40	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.67	0.70	+2.97

Drawdowns

WTLS vs. BIVRX - Drawdown Comparison

The maximum WTLS drawdown since its inception was -8.94%, smaller than the maximum BIVRX drawdown of -21.14%. Use the drawdown chart below to compare losses from any high point for WTLS and BIVRX.

Drawdown Indicators

	WTLS	BIVRX	Difference
Max Drawdown Largest peak-to-trough decline	-8.94%	-21.14%	+12.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-20.70%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.14%	—
Current Drawdown Current decline from peak	-1.04%	-21.14%	+20.10%
Average Drawdown Average peak-to-trough decline	-1.78%	-6.06%	+4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.93%	—

Volatility

Volatility by Period

	WTLS	BIVRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.47%	24.31%	-5.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.47%	17.55%	+0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.47%	17.57%	+0.90%

WTLS vs. BIVRX - Expense Ratio Comparison

WTLS has a 0.88% expense ratio, which is lower than BIVRX's 2.48% expense ratio.

Dividends

WTLS vs. BIVRX - Dividend Comparison

WTLS has not paid dividends to shareholders, while BIVRX's dividend yield for the trailing twelve months is around 2.28%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIVRX Invenomic Fund	2.28%	1.93%	3.55%	20.26%	28.43%	3.00%	3.11%	3.21%	4.82%	1.21%
WTLS WisdomTree Efficient Long/Short US Equity Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WTLS and BIVRX in my portfolio?

WTLS and BIVRX have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.