CAF vs. WCQGX
CAF (Morgan Stanley China A Share Fund) and WCQGX (WCM China Quality Growth Fund) are both mutual funds - CAF is a China Equities fund actively managed by Morgan Stanley, while WCQGX is a Quality Factor fund managed by WCM. Over the past 5 years, CAF returned -0.15%/yr vs -8.50%/yr for WCQGX. Their 0.65 correlation means they have sometimes moved together and sometimes differently. CAF charges 1.67%/yr vs 1.50%/yr for WCQGX.
Performance
CAF vs. WCQGX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CAF achieves a 8.47% return, which is significantly higher than WCQGX's -5.32% return.
CAF
- 1D
- -1.67%
- 1M
- -8.59%
- 6M
- 3.80%
- YTD
- 8.47%
- 1Y
- 37.10%
- 3Y*
- 14.27%
- 5Y*
- -0.15%
- 10Y*
- 4.77%
- ALL TIME*
- 8.91%
WCQGX
- 1D
- 1.42%
- 1M
- -13.94%
- 6M
- -9.92%
- YTD
- -5.32%
- 1Y
- 0.03%
- 3Y*
- -1.07%
- 5Y*
- -8.50%
- 10Y*
- —
- ALL TIME*
- 1.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $536.29K | $436.86K | $582.49K | |
| $0.00 | $0.00 | $0.00 |
CAF vs. WCQGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CAF Morgan Stanley China A Share Fund | 8.47% | 41.51% | 0.34% | -9.39% | -30.41% | -1.77% | 36.35% |
WCQGX WCM China Quality Growth Fund | -5.32% | 20.97% | -3.03% | -18.49% | -26.70% | 4.03% | 64.08% |
Correlation
The correlation between CAF and WCQGX is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.58 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.67 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2020 | 0.65 |
The correlation between CAF and WCQGX has been stable across timeframes, ranging from 0.58 to 0.67 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CAF vs. WCQGX — Risk / Return Rank
CAF
WCQGX
CAF vs. WCQGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley China A Share Fund (CAF) and WCM China Quality Growth Fund (WCQGX). 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.
| CAF | WCQGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.86 | ||
| Sortino ratioReturn per unit of downside risk | +2.37 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.01 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.18 | -0.09 | +3.27 |
| Martin ratioReturn relative to average drawdown | 9.22 | -0.26 | +9.48 |
Loading charts...
Drawdowns
CAF vs. WCQGX - Drawdown Comparison
The maximum CAF drawdown since its inception was -65.88%, which is greater than WCQGX's maximum drawdown of -59.28%. Use the drawdown chart below to compare losses from any high point for CAF and WCQGX.
Loading charts...
Drawdown Indicators
| CAF | WCQGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.88% | -59.28% | -6.60% |
Max Drawdown (1Y)Largest decline over 1 year | -11.72% | -22.31% | +10.59% |
Max Drawdown (3Y)Largest decline over 3 years | -26.27% | -27.02% | +0.75% |
Max Drawdown (5Y)Largest decline over 5 years | -45.26% | -53.96% | +8.70% |
Max Drawdown (10Y)Largest decline over 10 years | -49.01% | — | — |
Current DrawdownCurrent decline from peak | -11.72% | -45.45% | +33.73% |
Average DrawdownAverage peak-to-trough decline | -25.75% | -34.38% | +8.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.03% | 7.99% | -3.96% |
Volatility
CAF vs. WCQGX - Volatility Comparison
The current volatility for Morgan Stanley China A Share Fund (CAF) is 8.03%, while WCM China Quality Growth Fund (WCQGX) has a volatility of 14.65%. This indicates that CAF experiences smaller price fluctuations and is considered to be less risky than WCQGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CAF | WCQGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.03% | 14.65% | -6.62% |
Volatility (6M)Calculated over the trailing 6-month period | 15.35% | 24.64% | -9.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.86% | 28.68% | -7.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.70% | 24.80% | -3.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.98% | 24.82% | -2.84% |
CAF vs. WCQGX - Expense Ratio Comparison
CAF has a 1.67% expense ratio, which is higher than WCQGX's 1.50% expense ratio.
Dividends
CAF vs. WCQGX - Dividend Comparison
CAF's dividend yield for the trailing twelve months is around 1.40%, less than WCQGX's 7.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAF Morgan Stanley China A Share Fund | 1.40% | 1.51% | 2.63% | 0.96% | 0.02% | 6.57% | 10.40% | 3.78% | 9.48% | 5.20% | 4.69% | 67.03% |
WCQGX WCM China Quality Growth Fund | 7.04% | 6.67% | 2.02% | 0.82% | 0.28% | 8.54% | 2.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CAF and WCQGX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WCQGX has higher volatility (14.65%) compared to CAF (8.03%). In terms of maximum drawdown, CAF dropped -65.88% vs WCQGX's -59.28%.
CAF currently has the higher Sharpe Ratio (1.79 vs -0.07), 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.
Find the right allocation for CAF and WCQGX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer