BESIX vs. WBEIX

Last updated Aug 4, 2026

BESIX (William Blair Emerging Markets Small Cap Growth Fund) and WBEIX (William Blair Emerging Markets Growth Fund) are both Emerging Markets Equities funds from William Blair. Over the past 10 years, BESIX returned 7.78%/yr vs 9.68%/yr for WBEIX. Their correlation of 0.85 means they have usually moved in the same direction. BESIX charges 1.30%/yr vs 1.11%/yr for WBEIX.

Performance

BESIX vs. WBEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in William Blair Emerging Markets Small Cap Growth Fund (BESIX) and William Blair Emerging Markets Growth Fund (WBEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BESIX achieves a 8.74% return, which is significantly lower than WBEIX's 20.59% return. Over the past 10 years, BESIX has underperformed WBEIX with an annualized return of 7.78%, while WBEIX has yielded a comparatively higher 9.68% annualized return.

BESIX

• 1D: 0.95%
• 1M: -10.40%
• 6M: 1.75%
• YTD: 8.74%
• 1Y: 21.86%
• 3Y*: 12.86%
• 5Y*: 4.29%
• 10Y*: 7.78%
• ALL TIME*: 9.26%

WBEIX

• 1D: 1.85%
• 1M: -7.62%
• 6M: 12.17%
• YTD: 20.59%
• 1Y: 39.52%
• 3Y*: 19.51%
• 5Y*: 3.95%
• 10Y*: 9.68%
• ALL TIME*: 8.44%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BESIX William Blair Emerging Markets Small Cap Growth Fund	$0.00	$0.00	$0.00
WBEIX William Blair Emerging Markets Growth Fund	$0.00	$0.00	$0.00

BESIX vs. WBEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BESIX William Blair Emerging Markets Small Cap Growth Fund	8.74%	13.93%	8.37%	22.25%	-27.95%	15.52%	32.60%	20.58%	-23.29%	40.54%
WBEIX William Blair Emerging Markets Growth Fund	20.59%	25.18%	10.62%	10.23%	-33.15%	3.23%	40.77%	28.36%	-21.31%	48.82%

Correlation

The correlation between BESIX and WBEIX is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (10Y) Provides a long-term view across more market conditions.	0.84
Correlation (All Time) Calculated using the full available price history since Oct 25, 2011	0.85

The correlation between BESIX and WBEIX has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

Return for Risk

BESIX vs. WBEIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BESIX

BESIX Risk / Return Rank: 28
BESIX Sharpe Ratio Rank: 27
BESIX Sortino Ratio Rank: 26
BESIX Omega Ratio Rank: 28
BESIX Calmar Ratio Rank: 29
BESIX Martin Ratio Rank: 29

WBEIX

WBEIX Risk / Return Rank: 47
WBEIX Sharpe Ratio Rank: 49
WBEIX Sortino Ratio Rank: 42
WBEIX Omega Ratio Rank: 48
WBEIX Calmar Ratio Rank: 48
WBEIX Martin Ratio Rank: 47

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BESIX vs. WBEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for William Blair Emerging Markets Small Cap Growth Fund (BESIX) and William Blair Emerging Markets Growth Fund (WBEIX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BESIX	WBEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.00	1.47	-0.46
Sortino ratio: Return per unit of downside risk	1.44	1.95	-0.51
Omega ratio: Gain probability vs. loss probability	1.19	1.27	-0.08
Calmar ratio: Return relative to maximum drawdown	1.41	1.98	-0.57
Martin ratio: Return relative to average drawdown	4.47	7.06	-2.60

BESIX vs. WBEIX - Sharpe Ratio Comparison

The current BESIX Sharpe Ratio is 1.00, which is lower than the WBEIX Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of BESIX and WBEIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BESIX vs. WBEIX - Drawdown Comparison

The maximum BESIX drawdown since its inception was -38.05%, smaller than the maximum WBEIX drawdown of -71.18%. Use the drawdown chart below to compare losses from any high point for BESIX and WBEIX.

Drawdown Indicators

	BESIX	WBEIX	Difference
Max Drawdown Largest peak-to-trough decline	-38.05%	-71.18%	+33.13%
Max Drawdown (1Y) Largest decline over 1 year	-14.50%	-19.23%	+4.73%
Max Drawdown (3Y) Largest decline over 3 years	-21.34%	-19.64%	-1.70%
Max Drawdown (5Y) Largest decline over 5 years	-31.41%	-40.86%	+9.45%
Max Drawdown (10Y) Largest decline over 10 years	-38.05%	-43.75%	+5.70%
Current Drawdown Current decline from peak	-13.15%	-14.43%	+1.28%
Average Drawdown Average peak-to-trough decline	-10.15%	-21.36%	+11.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.55%	5.37%	-0.82%

Volatility

BESIX vs. WBEIX - Volatility Comparison

The current volatility for William Blair Emerging Markets Small Cap Growth Fund (BESIX) is 6.80%, while William Blair Emerging Markets Growth Fund (WBEIX) has a volatility of 10.99%. This indicates that BESIX experiences smaller price fluctuations and is considered to be less risky than WBEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BESIX	WBEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.80%	10.99%	-4.19%
Volatility (6M) Calculated over the trailing 6-month period	17.78%	23.21%	-5.43%
Volatility (1Y) Calculated over the trailing 1-year period	20.34%	26.00%	-5.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.66%	18.05%	-2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.48%	18.42%	-1.94%

BESIX vs. WBEIX - Expense Ratio Comparison

BESIX has a 1.30% expense ratio, which is higher than WBEIX's 1.11% expense ratio.

Dividends

BESIX vs. WBEIX - Dividend Comparison

BESIX's dividend yield for the trailing twelve months is around 8.77%, more than WBEIX's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BESIX William Blair Emerging Markets Small Cap Growth Fund	8.77%	9.53%	0.00%	0.26%	4.84%	8.51%	0.04%	0.16%	2.32%	3.17%	2.67%	4.17%
WBEIX William Blair Emerging Markets Growth Fund	0.34%	0.41%	0.10%	0.53%	0.16%	21.21%	4.12%	4.31%	14.57%	0.94%	0.45%	1.11%

Frequently Asked Questions

Can I hold both BESIX and WBEIX in my portfolio?

BESIX and WBEIX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BESIX or WBEIX?

WBEIX has higher volatility (10.99%) compared to BESIX (6.80%). In terms of maximum drawdown, BESIX dropped -38.05% vs WBEIX's -71.18%.

Which has better risk-adjusted returns?

WBEIX currently has the higher Sharpe Ratio (1.47 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.