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WAEMX Alternative

edited January 2013 in Fund Discussions
I was in WAEMX (Wasatch Em. Mkts. Small Cap) for 3 years and had to sell my shares last year due to needing the money. Because this fund is closed I therefore can't get back into it.

I'd welcome recommendations for a similar fund. Thanks in advance for the help and Happy 2013!


  • I'd look in the direction of the Grandeur Peak folks. They're former Wasatch managers with two small cap funds: international and global. Grandeur Peak does not have dedicated e.m. funds but the managers are very comfortable with that opportunity set and the charts of the three funds suggest a pretty reasonable correlation.

    For what it's worth,

    WAEMX and Grandeur Peak.PNG
    983 x 344 - 51K
  • Thank you David, I wasn't aware of this group. I'll give them a closer look.

    Happy 2013!
  • They both look like good funds, but the minimum initial investment in both funds is $100,000. That's too steep for me : )
  • You could consider MSMLX. It is small cap, but of course only invests in Asia (I think it is currently open). Some other possible options, both by Wasatch: WAFMX, which invests in frontier emerging markets (is run by co-manager of WAEMX Laura Geritz), and the new WAESX, which is more concentrated (is co-run by Roger Edgley, the other manager of WAEMX). I have owned WAFMX since close to it's inception, and have been very happy with it. It has surprisingly low volatility (it has unexpectedly become one of my steady eddie funds), and often zigs when everything else zags. Another possible fund is RIVFX. It is small cap and I believe it can hold up to 35% EM, but it has most definitely hit a rough patch. It had a great track record before 2011 (particularly in 2009 and 2010), so maybe the future performance is something that one can keep an eye on to see if it gets back on track.
  • Reply to @PopTart: That must be wrong. The minimum investment in GPGOX or GPIOX is $2000.
  • edited January 2013
    Howdy PopTart,
    I recall you're with Fido; or is this a choice within a 401k or related?
    Anyhoo, if with Fido in particular, you may look at FEDDX, too.
    Emerging Markets Discovery. Fido's look towards EM consumer markets in my opinion, and via the mid and small cap area (95%), at this time. Asia is currently about 40% of the exposure, but the fund is invested everywhere.
    How many investment terms has the young one learned?:)
  • edited January 2013
    Hi Poptart- Taking some of the suggestions which have been made by others, here's additional info from Schwab- you can probably find similar at other brokerages:

    Fund: Avail: Load: Fee: Minimum Net ER Notes:
    MSMLX Open No No 2500 1.52%
    WAFMX Open No No 2500 2.25% (Gross ER 3.65% w/o waiver)
    RIVFX Open No No 2500 1.69% (Gross ER 1.77% w/o waiver)
    GPGOX Open No No 2500 1.88% (Gross ER 2.41% w/o waiver)
    GPIOX Open No No 2500 1.78% (Gross ER 2.83% w/o waiver)
    Here's a Schwab Info page which you might find handy for more comparisons- just plug in whatever fund you are interested in- Schwab Info Page

    Hope this helps-
  • In our portfolio, we use ABNIX for our MC/SC EM equity exposure. This fund has about 35% allocated to EM countries, which is more than adequate for my risk tolerance; HERE is the latest quarterly report. This fund has had excellent performance and attractive Upside/Downside capture ratios since the current management team took over on 10/23/2009. I purchased ABNIX at Firstrade, and according to their web site, this fund continues to be available for a minimum of $500 in retirement accounts.

  • Lots of good suggestions here; I'd just add that the WisdomTree etf DGS (small cap dividend) is a fairly decent option, too. Don't own it myself, but it's one of three EM etf's I keep a relatively close eye on.
  • Reply to @Investor: Thanks Investor for finding the actual tickers! I had found only the tickers for the Inst. Investor versions of David's recommendations...
  • Reply to @catch22: Thanks Catch, I'll look into FEDDX as I have an account with Fido. The youngster (my daughter, not me) hasn't learned any investment terms yet. "Kitty, kitty, kitty" comes out clear as a bell though!
  • Reply to @PopTart: Sorry for the mistake on my part David, I had found only the Inst. Inv. ticker for these funds. Both look really promising, thanks! : )
  • Reply to @Chinfist: Thanks Chinfist. I was in MSMLX for 4 years but had to sell it at the same time I sold WAEMX. MSMLX is an excellent suggestion for a fund to get back into. I'm surprised that WAFMX has been so steady given that it invests in frontier markets. All are excellent suggestions which I'll look into, thanks! : )
  • edited January 2013
    Reply to @Old_Joe: Thanks OJ! I used to be in MSMLX but had to sell my shares at the same time I sold WAEMX. The ER comparisons are excellent, thanks! I've been in some Royce funds in the past. Royce doesn't seem as strong of an organization as I remember it being, but I'll take a closer look at RIVFX : )
  • edited January 2013
    Reply to @kevindow: Thanks Kevin! I'll take a closer look at ABNIX. Whichever fund/funds I choose would be in a taxable account, so the $1 mil. initial investment is out of my league. But good to know about the low minimum for retirement accounts at Firstrade : )
  • Reply to @AndyJ: Thanks Andy! I'll keep an eye on this etf also : )
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