FTMKX vs. WCMEX

Last updated Jun 26, 2026

FTMKX (Fidelity Advisor Focused Emerging Markets Fund Class M) and WCMEX (WCM Focused Emerging Markets Fund Institutional Class) are both Emerging Markets Equities funds. Over the past 10 years, FTMKX returned 12.35%/yr vs 11.14%/yr for WCMEX. Their correlation of 0.88 suggests significant overlap in exposure. FTMKX charges 1.61%/yr vs 1.26%/yr for WCMEX.

Performance

FTMKX vs. WCMEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Focused Emerging Markets Fund Class M (FTMKX) and WCM Focused Emerging Markets Fund Institutional Class (WCMEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FTMKX having a 26.37% return and WCMEX slightly lower at 25.63%. Over the past 10 years, FTMKX has outperformed WCMEX with an annualized return of 12.35%, while WCMEX has yielded a comparatively lower 11.14% annualized return.

FTMKX

• 1D: 0.82%
• 1M: -1.14%
• YTD: 26.37%
• 6M: 27.34%
• 1Y: 53.59%
• 3Y*: 25.81%
• 5Y*: 7.98%
• 10Y*: 12.35%

WCMEX

• 1D: 0.33%
• 1M: 1.63%
• YTD: 25.63%
• 6M: 26.22%
• 1Y: 41.05%
• 3Y*: 23.74%
• 5Y*: 3.89%
• 10Y*: 11.14%

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

FTMKX vs. WCMEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTMKX Fidelity Advisor Focused Emerging Markets Fund Class M	26.37%	39.38%	8.73%	7.84%	-20.29%	-3.19%	29.65%	28.95%	-18.56%	46.33%
WCMEX WCM Focused Emerging Markets Fund Institutional Class	25.63%	31.46%	10.07%	4.54%	-30.70%	-1.67%	36.52%	37.58%	-12.67%	40.91%

Correlation

The correlation between FTMKX and WCMEX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jul 2, 2013	0.88

The correlation between FTMKX and WCMEX has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.

Return for Risk

FTMKX vs. WCMEX — Risk / Return Rank

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

FTMKX

FTMKX Risk / Return Rank: 88
FTMKX Sharpe Ratio Rank: 92
FTMKX Sortino Ratio Rank: 82
FTMKX Omega Ratio Rank: 86
FTMKX Calmar Ratio Rank: 90
FTMKX Martin Ratio Rank: 90

WCMEX

WCMEX Risk / Return Rank: 71
WCMEX Sharpe Ratio Rank: 67
WCMEX Sortino Ratio Rank: 54
WCMEX Omega Ratio Rank: 68
WCMEX Calmar Ratio Rank: 89
WCMEX Martin Ratio Rank: 75

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.

FTMKX vs. WCMEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Focused Emerging Markets Fund Class M (FTMKX) and WCM Focused Emerging Markets Fund Institutional Class (WCMEX). 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.

	FTMKX	WCMEX	Difference
Sharpe ratio: Return per unit of total volatility	2.64	1.92	+0.72
Sortino ratio: Return per unit of downside risk	3.26	2.47	+0.79
Omega ratio: Gain probability vs. loss probability	1.50	1.36	+0.13
Calmar ratio: Return relative to maximum drawdown	3.93	3.85	+0.08
Martin ratio: Return relative to average drawdown	14.93	11.45	+3.48

FTMKX vs. WCMEX - Sharpe Ratio Comparison

The current FTMKX Sharpe Ratio is 2.64, which is higher than the WCMEX Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of FTMKX and WCMEX, 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

FTMKX vs. WCMEX - Drawdown Comparison

The maximum FTMKX drawdown since its inception was -70.17%, which is greater than WCMEX's maximum drawdown of -46.05%. Use the drawdown chart below to compare losses from any high point for FTMKX and WCMEX.

Drawdown Indicators

	FTMKX	WCMEX	Difference
Max Drawdown Largest peak-to-trough decline	-70.17%	-46.05%	-24.12%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-10.74%	-3.01%
Max Drawdown (3Y) Largest decline over 3 years	-18.94%	-19.05%	+0.11%
Max Drawdown (5Y) Largest decline over 5 years	-40.01%	-44.77%	+4.76%
Max Drawdown (10Y) Largest decline over 10 years	-42.43%	-46.05%	+3.62%
Current Drawdown Current decline from peak	-5.31%	-3.72%	-1.59%
Average Drawdown Average peak-to-trough decline	-20.94%	-14.65%	-6.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	3.59%	+0.02%

Volatility

FTMKX vs. WCMEX - Volatility Comparison

Fidelity Advisor Focused Emerging Markets Fund Class M (FTMKX) and WCM Focused Emerging Markets Fund Institutional Class (WCMEX) have volatilities of 11.59% and 11.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTMKX	WCMEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.59%	11.50%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	18.51%	18.68%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	20.55%	21.62%	-1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.44%	19.18%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.02%	18.96%	+0.06%

FTMKX vs. WCMEX - Expense Ratio Comparison

FTMKX has a 1.61% expense ratio, which is higher than WCMEX's 1.26% expense ratio.

Dividends

FTMKX vs. WCMEX - Dividend Comparison

FTMKX's dividend yield for the trailing twelve months is around 0.82%, while WCMEX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTMKX Fidelity Advisor Focused Emerging Markets Fund Class M	0.82%	1.04%	0.78%	0.98%	0.47%	4.58%	1.62%	10.48%	0.00%	0.08%	0.00%	0.00%
WCMEX WCM Focused Emerging Markets Fund Institutional Class	0.00%	0.00%	0.00%	0.46%	0.47%	4.37%	0.87%	0.37%	0.76%	0.76%	0.76%	0.42%

Frequently Asked Questions

Can I hold both FTMKX and WCMEX in my portfolio?

FTMKX and WCMEX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTMKX or WCMEX?

FTMKX has higher volatility (11.59%) compared to WCMEX (11.50%). In terms of maximum drawdown, FTMKX dropped -70.17% vs WCMEX's -46.05%.

Which has better risk-adjusted returns?

FTMKX currently has the higher Sharpe Ratio (2.64 vs 1.92), 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.