Fund Evaluator:
Wasatch Ultra Growth (WAMCX)
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Best Performing in Small Growth Over the Last Year
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Fund Details
Wasatch Ultra Growth Overview
Wasatch Ultra Growth (WAMCX) is an actively managed U.S. Equity Small Growth fund. Wasatch launched the fund in 1992.
The investment seeks long-term growth of capital; income is a secondary objective. The fund invests primarily in smaller high growth companies. It will invest the fund's assets in the equity securities, typically common stock, of smaller companies that the managers believe have the potential for rapid growth in earnings per share. The fund may invest up to 30% of its total assets at the time of purchase in securities issued by foreign companies. It may invest a large percentage of its assets in a few sectors. These sectors were information technology, health care, consumer discretionary, financials, and industrials.
About Wasatch Ultra Growth (WAMCX)
There are 2 members of the management team with an average tenure of 7.42 years: Natalie Pesque (2026), John Malooly (2012). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 2000 Growth TR USD index with a weighting of 100%. Wasatch Ultra Growth has 55 securities in its portfolio. The top 10 holdings constitute 34.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Wasatch Ultra Growth is part of the Equity global asset class and is within the U.S. Equity fund group. Wasatch Ultra Growth has 9.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 89.5%. There is 9.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Wasatch Ultra Growth has 1.3% of the portfolio in cash.
Assets Under Management
The fund has $359 million in total assets, which is below the $454 million average for the Small Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
WAMCX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Wasatch Ultra Growth expense ratio is high compared to funds in the Small Growth category. Wasatch Ultra Growth has an expense ratio of 1.20%, which is 2% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Wasatch Ultra Growth has a portfolio turnover rate of 30%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 76% for the Small Growth category.
Recently, in the month of June 2026, Wasatch Ultra Growth returned 8.6%, which earned it a grade of A, as the Small Growth category had an average return of 6.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Wasatch Ultra Growth has a trailing yield of 0.00%, which is below the 0.07% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Wasatch Ultra Growth Grades
Year to date, the fund has returned 16.1%, 6.0 percentage points worse than the category, which translates into a grade of D. The fund has returned 25.3% over the past year (grade of D), 8.9% over the past three years (grade of F) and -3.5% per year over the past five years (grade of F) and 13.3% per year over the past 10 years (grade of B).
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WAMCX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| WAMCX Return (NAV) | 8.6% | 26.7% | 25.3% | 8.9% | -3.5% | 13.3% |
| WAMCX Grade | A | C | D | F | F | B |
| +/- Category | 2.2% | 2.0% | -8.4% | -7.5% | -8.2% | 0.8% |
| Small Growth Avg | 6.5% | 24.7% | 33.7% | 16.4% | 4.6% | 12.5% |
| WAMCX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.7% | 1.2% |
WAMCX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WAMCX Return (NAV) | 16.1% | -2.9% | 8.3% | 19.2% | -39.7% | 5.6% | 71.4% | 38.1% | 10.6% | 31.6% | 8.0% |
| WAMCX Grade | D | F | F | B | F | D | A | A | A | A | D |
| +/- Category | -6.0% | -10.9% | -7.3% | 2.5% | -11.8% | -4.9% | 29.6% | 8.2% | 14.7% | 7.5% | -2.2% |
| Small Growth Avg | 22.1% | 8.0% | 15.5% | 16.7% | -27.9% | 10.5% | 41.8% | 29.9% | -4.1% | 24.1% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 24.5% |
| Total Risk Index: | 2.01 - High |
| Category Risk Index: | 1.23 - High |
| Category Risk Grade: | F (96% Rank) |
| Beta: | 1.50 |
| R-Squared: | 64% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $461 Mil |
| Fund Total Assets: | $ 360 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 30% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 14.4 years | |||
| Average Tenure: 7.4 years | |||
| Managers (Year): Malooly John (2012), Pesque Natalie (2026) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 55 |
| % in Top 10 Holdings: | 34.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 9.2% |
Portfolio Allocation |
|
| Domestic Stock: | 89.5% |
| Foreign Stock: | 9.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.3% |
Purchase Information
| Fund Family: | Wasatch |
| Phone Number: | 800-551-1700 |
| Website: | www.wasatchfunds.com |
| Status: | Open |
| Inception Date: | August 17, 1992 |
| Min. Initial Purchase: | $2,000 |
| Min. Initial IRA Purchase: | $2,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 2.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.20% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.18% |
| Share Class: | Wasatch Ultra Growth |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
