WTLS vs. SAOAX

Last updated Jun 4, 2026

WTLS (WisdomTree Efficient Long/Short US Equity Fund) and SAOAX (Guggenheim Alpha Opportunity Fund) are both Long-Short funds. At a correlation of -0.02, they often move in opposite directions. WTLS charges 0.88%/yr vs 1.76%/yr for SAOAX.

Performance

WTLS vs. SAOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Efficient Long/Short US Equity Fund (WTLS) and Guggenheim Alpha Opportunity Fund (SAOAX). 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*: —

SAOAX

• 1D: 0.92%
• 1M: 4.52%
• YTD: 18.07%
• 6M: 19.57%
• 1Y: 18.29%
• 3Y*: 10.13%
• 5Y*: 6.32%
• 10Y*: 3.89%

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

WTLS vs. SAOAX - Yearly Performance Comparison

	2026 (YTD)
WTLS WisdomTree Efficient Long/Short US Equity Fund	20.44%
SAOAX Guggenheim Alpha Opportunity Fund	14.35%

Correlation

The correlation between WTLS and SAOAX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 23, 2026	-0.02

Return for Risk

WTLS vs. SAOAX — Risk / Return Rank

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

SAOAX

SAOAX Risk / Return Rank: 58
SAOAX Sharpe Ratio Rank: 52
SAOAX Sortino Ratio Rank: 55
SAOAX Omega Ratio Rank: 49
SAOAX Calmar Ratio Rank: 86
SAOAX Martin Ratio Rank: 49

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. SAOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Efficient Long/Short US Equity Fund (WTLS) and Guggenheim Alpha Opportunity Fund (SAOAX). 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	SAOAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.12	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.22	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.67	0.31	+3.36

Drawdowns

WTLS vs. SAOAX - Drawdown Comparison

The maximum WTLS drawdown since its inception was -8.94%, smaller than the maximum SAOAX drawdown of -52.28%. Use the drawdown chart below to compare losses from any high point for WTLS and SAOAX.

Drawdown Indicators

	WTLS	SAOAX	Difference
Max Drawdown Largest peak-to-trough decline	-8.94%	-52.28%	+43.34%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.45%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-35.90%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.90%	—
Current Drawdown Current decline from peak	-1.04%	0.00%	-1.04%
Average Drawdown Average peak-to-trough decline	-1.78%	-8.70%	+6.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.82%	—

Volatility

Volatility by Period

	WTLS	SAOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.47%	8.71%	+9.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.47%	28.70%	-10.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.47%	21.16%	-2.69%

WTLS vs. SAOAX - Expense Ratio Comparison

WTLS has a 0.88% expense ratio, which is lower than SAOAX's 1.76% expense ratio.

Dividends

WTLS vs. SAOAX - Dividend Comparison

WTLS has not paid dividends to shareholders, while SAOAX's dividend yield for the trailing twelve months is around 0.61%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SAOAX Guggenheim Alpha Opportunity Fund	0.61%	0.71%	1.06%	0.62%	0.72%	0.82%	1.22%	0.92%	1.17%	7.07%	0.03%
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%	0.00%

Frequently Asked Questions

Can I hold both WTLS and SAOAX in my portfolio?

WTLS and SAOAX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.