The present wavelength multiplexed optical system includes a multimode optical fiber that transmits wavelength multiplexed optical signals and a plurality of multimode modal dispersion compensation optical fibers. Each modal dispersion compensation optical fiber can transmit one of the multiplex wavelengths, and each modal dispersion compensation optical fiber has an optimized index profile such that the modal dispersion for the transmitted wavelength is approximately inversely equal to the modal dispersion induced in the multimode optical fiber. The wavelength multiplexed optical system facilitates an increased bitrate without reducing bandwidth.