FIXIX vs. WCMSX

Last updated Jun 4, 2026

FIXIX (Fidelity Advisor International Small Cap Fund Class I) and WCMSX (WCM International Small Cap Growth Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, FIXIX returned 8.89%/yr vs 12.70%/yr for WCMSX. Their correlation of 0.82 suggests significant overlap in exposure. FIXIX charges 1.02%/yr vs 1.25%/yr for WCMSX.

Performance

FIXIX vs. WCMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Small Cap Fund Class I (FIXIX) and WCM International Small Cap Growth Fund (WCMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIXIX achieves a 10.19% return, which is significantly lower than WCMSX's 16.27% return. Over the past 10 years, FIXIX has underperformed WCMSX with an annualized return of 8.89%, while WCMSX has yielded a comparatively higher 12.70% annualized return.

FIXIX

• 1D: -0.37%
• 1M: 3.44%
• YTD: 10.19%
• 6M: 12.14%
• 1Y: 18.91%
• 3Y*: 14.41%
• 5Y*: 6.28%
• 10Y*: 8.89%

WCMSX

• 1D: 0.07%
• 1M: 3.51%
• YTD: 16.27%
• 6M: 16.88%
• 1Y: 18.09%
• 3Y*: 16.78%
• 5Y*: 1.99%
• 10Y*: 12.70%

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

FIXIX vs. WCMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIXIX Fidelity Advisor International Small Cap Fund Class I	10.19%	24.65%	0.02%	19.63%	-16.66%	13.44%	9.97%	21.45%	-16.09%	31.49%
WCMSX WCM International Small Cap Growth Fund	16.27%	18.14%	4.33%	22.26%	-42.12%	16.65%	55.36%	45.02%	-8.94%	42.35%

Correlation

The correlation between FIXIX and WCMSX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.82

The correlation between FIXIX and WCMSX has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.

Return for Risk

FIXIX vs. WCMSX — Risk / Return Rank

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

FIXIX

FIXIX Risk / Return Rank: 27
FIXIX Sharpe Ratio Rank: 29
FIXIX Sortino Ratio Rank: 28
FIXIX Omega Ratio Rank: 30
FIXIX Calmar Ratio Rank: 22
FIXIX Martin Ratio Rank: 25

WCMSX

WCMSX Risk / Return Rank: 18
WCMSX Sharpe Ratio Rank: 15
WCMSX Sortino Ratio Rank: 15
WCMSX Omega Ratio Rank: 15
WCMSX Calmar Ratio Rank: 26
WCMSX Martin Ratio Rank: 18

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.

FIXIX vs. WCMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Small Cap Fund Class I (FIXIX) and WCM International Small Cap Growth Fund (WCMSX). 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.

	FIXIX	WCMSX	Difference
Sharpe ratio Return per unit of total volatility	1.52	1.08	+0.44
Sortino ratio Return per unit of downside risk	2.21	1.58	+0.62
Omega ratio Gain probability vs. loss probability	1.29	1.20	+0.09
Calmar ratio Return relative to maximum drawdown	1.73	1.91	-0.18
Martin ratio Return relative to average drawdown	6.21	4.93	+1.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIXIX vs. WCMSX - Sharpe Ratio Comparison

The current FIXIX Sharpe Ratio is 1.52, which is higher than the WCMSX Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of FIXIX and WCMSX, 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

	FIXIX	WCMSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	1.08	+0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.10	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.64	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.64	+0.10

Drawdowns

FIXIX vs. WCMSX - Drawdown Comparison

The maximum FIXIX drawdown since its inception was -60.85%, which is greater than WCMSX's maximum drawdown of -51.60%. Use the drawdown chart below to compare losses from any high point for FIXIX and WCMSX.

Drawdown Indicators

	FIXIX	WCMSX	Difference
Max Drawdown Largest peak-to-trough decline	-60.85%	-51.60%	-9.25%
Max Drawdown (1Y) Largest decline over 1 year	-10.73%	-9.81%	-0.92%
Max Drawdown (3Y) Largest decline over 3 years	-12.69%	-19.37%	+6.68%
Max Drawdown (5Y) Largest decline over 5 years	-31.05%	-51.60%	+20.55%
Max Drawdown (10Y) Largest decline over 10 years	-38.82%	-51.60%	+12.78%
Current Drawdown Current decline from peak	-1.07%	-5.95%	+4.88%
Average Drawdown Average peak-to-trough decline	-10.57%	-15.78%	+5.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	3.78%	-0.79%

Volatility

FIXIX vs. WCMSX - Volatility Comparison

The current volatility for Fidelity Advisor International Small Cap Fund Class I (FIXIX) is 3.81%, while WCM International Small Cap Growth Fund (WCMSX) has a volatility of 6.56%. This indicates that FIXIX experiences smaller price fluctuations and is considered to be less risky than WCMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIXIX	WCMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.81%	6.56%	-2.75%
Volatility (6M) Calculated over the trailing 6-month period	10.15%	14.56%	-4.41%
Volatility (1Y) Calculated over the trailing 1-year period	12.24%	17.31%	-5.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.55%	20.87%	-7.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.05%	20.07%	-6.02%

FIXIX vs. WCMSX - Expense Ratio Comparison

FIXIX has a 1.02% expense ratio, which is lower than WCMSX's 1.25% expense ratio.

Dividends

FIXIX vs. WCMSX - Dividend Comparison

FIXIX's dividend yield for the trailing twelve months is around 3.21%, more than WCMSX's 0.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIXIX Fidelity Advisor International Small Cap Fund Class I	3.21%	3.54%	2.59%	1.88%	0.68%	7.25%	0.81%	2.32%	6.13%	2.45%	2.81%	2.78%
WCMSX WCM International Small Cap Growth Fund	0.70%	0.81%	1.31%	0.00%	0.00%	10.27%	2.73%	0.57%	4.04%	1.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIXIX and WCMSX in my portfolio?

FIXIX and WCMSX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIXIX or WCMSX?

WCMSX has higher volatility (6.56%) compared to FIXIX (3.81%). In terms of maximum drawdown, FIXIX dropped -60.85% vs WCMSX's -51.60%.

Which has better risk-adjusted returns?

FIXIX currently has the higher Sharpe Ratio (1.52 vs 1.08), 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.