BCIIX vs. URTH

Last updated Jun 4, 2026

BCIIX (Brown Capital Management International Equity Fund) and URTH (iShares MSCI World ETF) are both funds - BCIIX is a Foreign Large Cap Equities fund managed by Brown Capital Management, while URTH is a Global Equities fund tracking the MSCI World Index (Net). Over the past 10 years, BCIIX returned 2.96%/yr vs 13.19%/yr for URTH. A 0.62 correlation means they provide meaningful diversification when combined. BCIIX charges 1.25%/yr vs 0.24%/yr for URTH.

Performance

BCIIX vs. URTH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brown Capital Management International Equity Fund (BCIIX) and iShares MSCI World ETF (URTH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCIIX achieves a -8.25% return, which is significantly lower than URTH's 10.16% return. Over the past 10 years, BCIIX has underperformed URTH with an annualized return of 2.96%, while URTH has yielded a comparatively higher 13.19% annualized return.

BCIIX

• 1D: -0.20%
• 1M: 1.20%
• YTD: -8.25%
• 6M: -8.69%
• 1Y: -15.75%
• 3Y*: 1.19%
• 5Y*: -3.42%
• 10Y*: 2.96%

URTH

• 1D: -0.74%
• 1M: 4.65%
• YTD: 10.16%
• 6M: 10.88%
• 1Y: 26.06%
• 3Y*: 20.81%
• 5Y*: 11.86%
• 10Y*: 13.19%

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

BCIIX vs. URTH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BCIIX Brown Capital Management International Equity Fund	-8.25%	-0.24%	-0.83%	28.36%	-31.37%	7.46%	24.49%	21.59%	-11.98%	23.62%
URTH iShares MSCI World ETF	10.16%	21.36%	18.66%	23.95%	-17.97%	22.27%	15.78%	28.15%	-8.56%	22.95%

Correlation

The correlation between BCIIX and URTH is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 13, 2012	0.62

The correlation between BCIIX and URTH shifts across timeframes, from 0.62 (all time) to 0.77 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BCIIX vs. URTH — Risk / Return Rank

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

BCIIX

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

URTH

URTH Risk / Return Rank: 63
URTH Sharpe Ratio Rank: 63
URTH Sortino Ratio Rank: 63
URTH Omega Ratio Rank: 63
URTH Calmar Ratio Rank: 57
URTH Martin Ratio Rank: 69

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.

BCIIX vs. URTH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brown Capital Management International Equity Fund (BCIIX) and iShares MSCI World ETF (URTH). 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.

	BCIIX	URTH	Difference
Sharpe ratio Return per unit of total volatility	-1.00	2.17	-3.17
Sortino ratio Return per unit of downside risk	-1.34	3.02	-4.35
Omega ratio Gain probability vs. loss probability	0.85	1.39	-0.54
Calmar ratio Return relative to maximum drawdown	-0.64	2.89	-3.53
Martin ratio Return relative to average drawdown	-1.29	13.11	-14.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BCIIX vs. URTH - Sharpe Ratio Comparison

The current BCIIX Sharpe Ratio is -1.00, which is lower than the URTH Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of BCIIX and URTH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BCIIX	URTH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.00	2.17	-3.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.19	0.74	-0.93
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	0.77	-0.58
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.73	-0.52

Drawdowns

BCIIX vs. URTH - Drawdown Comparison

The maximum BCIIX drawdown since its inception was -61.12%, which is greater than URTH's maximum drawdown of -34.01%. Use the drawdown chart below to compare losses from any high point for BCIIX and URTH.

Drawdown Indicators

	BCIIX	URTH	Difference
Max Drawdown Largest peak-to-trough decline	-61.12%	-34.01%	-27.11%
Max Drawdown (1Y) Largest decline over 1 year	-25.62%	-9.06%	-16.56%
Max Drawdown (3Y) Largest decline over 3 years	-25.62%	-16.94%	-8.68%
Max Drawdown (5Y) Largest decline over 5 years	-43.22%	-26.05%	-17.17%
Max Drawdown (10Y) Largest decline over 10 years	-43.22%	-34.01%	-9.21%
Current Drawdown Current decline from peak	-24.60%	-0.74%	-23.86%
Average Drawdown Average peak-to-trough decline	-16.15%	-4.37%	-11.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.60%	1.99%	+10.61%

Volatility

BCIIX vs. URTH - Volatility Comparison

Brown Capital Management International Equity Fund (BCIIX) has a higher volatility of 3.95% compared to iShares MSCI World ETF (URTH) at 3.27%. This indicates that BCIIX's price experiences larger fluctuations and is considered to be riskier than URTH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCIIX	URTH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	3.27%	+0.68%
Volatility (6M) Calculated over the trailing 6-month period	12.99%	9.42%	+3.57%
Volatility (1Y) Calculated over the trailing 1-year period	16.39%	12.05%	+4.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.19%	16.19%	+2.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.25%	17.27%	-1.02%

BCIIX vs. URTH - Expense Ratio Comparison

BCIIX has a 1.25% expense ratio, which is higher than URTH's 0.24% expense ratio.

Dividends

BCIIX vs. URTH - Dividend Comparison

BCIIX has not paid dividends to shareholders, while URTH's dividend yield for the trailing twelve months is around 1.35%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCIIX Brown Capital Management International Equity Fund	0.00%	0.00%	0.00%	0.00%	1.18%	0.64%	2.99%	0.62%	0.80%	0.77%	1.84%	0.31%
URTH iShares MSCI World ETF	1.35%	1.48%	1.47%	1.70%	1.68%	1.50%	1.52%	2.16%	2.30%	1.88%	2.15%	2.35%

Frequently Asked Questions

Can I hold both BCIIX and URTH in my portfolio?

BCIIX and URTH have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BCIIX or URTH?

BCIIX has higher volatility (3.95%) compared to URTH (3.27%). In terms of maximum drawdown, BCIIX dropped -61.12% vs URTH's -34.01%.

Which has better risk-adjusted returns?

URTH currently has the higher Sharpe Ratio (2.17 vs -1.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.