FTISX vs. WCMSX

Last updated Jun 25, 2026

FTISX (Fidelity Advisor International Small Cap Fund Class M) and WCMSX (WCM International Small Cap Growth Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, FTISX returned 8.69%/yr vs 12.77%/yr for WCMSX. Their correlation of 0.82 suggests significant overlap in exposure. FTISX charges 1.57%/yr vs 1.25%/yr for WCMSX.

Performance

FTISX vs. WCMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Small Cap Fund Class M (FTISX) 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, FTISX achieves a 7.83% return, which is significantly lower than WCMSX's 10.97% return. Over the past 10 years, FTISX has underperformed WCMSX with an annualized return of 8.69%, while WCMSX has yielded a comparatively higher 12.77% annualized return.

FTISX

• 1D: -2.70%
• 1M: -1.53%
• YTD: 7.83%
• 6M: 7.83%
• 1Y: 14.49%
• 3Y*: 13.47%
• 5Y*: 5.66%
• 10Y*: 8.69%

WCMSX

• 1D: -3.50%
• 1M: -4.25%
• YTD: 10.97%
• 6M: 10.29%
• 1Y: 9.01%
• 3Y*: 14.73%
• 5Y*: 0.39%
• 10Y*: 12.77%

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

FTISX vs. WCMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTISX Fidelity Advisor International Small Cap Fund Class M	7.83%	24.03%	-0.46%	18.97%	-17.12%	12.83%	9.29%	20.77%	-16.57%	31.41%
WCMSX WCM International Small Cap Growth Fund	10.97%	18.14%	4.33%	22.26%	-42.12%	16.65%	55.36%	45.02%	-8.94%	42.35%

Correlation

The correlation between FTISX and WCMSX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
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 4, 2016	0.82

The correlation between FTISX and WCMSX has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

Return for Risk

FTISX vs. WCMSX — Risk / Return Rank

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

FTISX

FTISX Risk / Return Rank: 23
FTISX Sharpe Ratio Rank: 23
FTISX Sortino Ratio Rank: 23
FTISX Omega Ratio Rank: 25
FTISX Calmar Ratio Rank: 21
FTISX Martin Ratio Rank: 24

WCMSX

WCMSX Risk / Return Rank: 10
WCMSX Sharpe Ratio Rank: 8
WCMSX Sortino Ratio Rank: 8
WCMSX Omega Ratio Rank: 9
WCMSX Calmar Ratio Rank: 14
WCMSX Martin Ratio Rank: 11

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.

FTISX vs. WCMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Small Cap Fund Class M (FTISX) 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.

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.

	FTISX	WCMSX	Difference
Sharpe ratio: Return per unit of total volatility	1.20	0.59	+0.61
Sortino ratio: Return per unit of downside risk	1.75	0.94	+0.81
Omega ratio: Gain probability vs. loss probability	1.23	1.12	+0.11
Calmar ratio: Return relative to maximum drawdown	1.47	1.13	+0.33
Martin ratio: Return relative to average drawdown	5.12	2.78	+2.34

FTISX vs. WCMSX - Sharpe Ratio Comparison

The current FTISX Sharpe Ratio is 1.20, which is higher than the WCMSX Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of FTISX 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.

Drawdowns

FTISX vs. WCMSX - Drawdown Comparison

The maximum FTISX drawdown since its inception was -61.12%, which is greater than WCMSX's maximum drawdown of -51.60%. Use the drawdown chart below to compare losses from any high point for FTISX and WCMSX.

Drawdown Indicators

	FTISX	WCMSX	Difference
Max Drawdown Largest peak-to-trough decline	-61.12%	-51.60%	-9.52%
Max Drawdown (1Y) Largest decline over 1 year	-10.75%	-9.81%	-0.94%
Max Drawdown (3Y) Largest decline over 3 years	-12.95%	-19.37%	+6.42%
Max Drawdown (5Y) Largest decline over 5 years	-31.45%	-51.60%	+20.15%
Max Drawdown (10Y) Largest decline over 10 years	-39.55%	-51.60%	+12.05%
Current Drawdown Current decline from peak	-3.02%	-10.24%	+7.22%
Average Drawdown Average peak-to-trough decline	-10.96%	-15.74%	+4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	3.97%	-0.90%

Volatility

FTISX vs. WCMSX - Volatility Comparison

The current volatility for Fidelity Advisor International Small Cap Fund Class M (FTISX) is 5.74%, while WCM International Small Cap Growth Fund (WCMSX) has a volatility of 8.53%. This indicates that FTISX 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

	FTISX	WCMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.74%	8.53%	-2.79%
Volatility (6M) Calculated over the trailing 6-month period	11.27%	16.15%	-4.88%
Volatility (1Y) Calculated over the trailing 1-year period	13.14%	18.73%	-5.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.74%	21.11%	-7.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.95%	20.10%	-6.15%

FTISX vs. WCMSX - Expense Ratio Comparison

FTISX has a 1.57% expense ratio, which is higher than WCMSX's 1.25% expense ratio.

Dividends

FTISX vs. WCMSX - Dividend Comparison

FTISX's dividend yield for the trailing twelve months is around 3.03%, more than WCMSX's 0.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTISX Fidelity Advisor International Small Cap Fund Class M	3.03%	3.26%	2.24%	1.40%	0.13%	6.94%	0.34%	1.81%	5.50%	2.52%	2.08%	2.86%
WCMSX WCM International Small Cap Growth Fund	0.73%	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 FTISX and WCMSX in my portfolio?

FTISX and WCMSX 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, FTISX or WCMSX?

WCMSX has higher volatility (8.53%) compared to FTISX (5.74%). In terms of maximum drawdown, FTISX dropped -61.12% vs WCMSX's -51.60%.

Which has better risk-adjusted returns?

FTISX currently has the higher Sharpe Ratio (1.20 vs 0.59), 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.