LCGFX vs. WBEIX

Last updated Jun 23, 2026

LCGFX (William Blair Large Cap Growth Fund) and WBEIX (William Blair Emerging Markets Growth Fund) are both mutual funds - LCGFX is a Large Cap Growth Equities fund managed by William Blair, while WBEIX is a Emerging Markets Diversified fund managed by William Blair. Over the past 10 years, LCGFX returned 16.57%/yr vs 11.79%/yr for WBEIX. A 0.59 correlation means they provide meaningful diversification when combined. LCGFX charges 0.65%/yr vs 1.11%/yr for WBEIX.

Performance

LCGFX vs. WBEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in William Blair Large Cap Growth Fund (LCGFX) 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, LCGFX achieves a 1.86% return, which is significantly lower than WBEIX's 38.55% return. Over the past 10 years, LCGFX has outperformed WBEIX with an annualized return of 16.57%, while WBEIX has yielded a comparatively lower 11.79% annualized return.

LCGFX

• 1D: 1.32%
• 1M: -0.81%
• YTD: 1.86%
• 6M: 1.72%
• 1Y: 13.25%
• 3Y*: 17.55%
• 5Y*: 9.52%
• 10Y*: 16.57%

WBEIX

• 1D: 3.36%
• 1M: 8.00%
• YTD: 38.55%
• 6M: 41.11%
• 1Y: 65.43%
• 3Y*: 25.02%
• 5Y*: 6.26%
• 10Y*: 11.79%

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

LCGFX vs. WBEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LCGFX William Blair Large Cap Growth Fund	1.86%	11.79%	26.09%	40.48%	-32.48%	28.29%	36.64%	36.44%	5.18%	31.29%
WBEIX William Blair Emerging Markets Growth Fund	38.55%	25.18%	10.62%	10.23%	-33.15%	3.23%	40.77%	28.36%	-21.31%	48.82%

Correlation

The correlation between LCGFX and WBEIX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jun 7, 2005	0.59

The correlation between LCGFX and WBEIX shifts across timeframes, from 0.46 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LCGFX vs. WBEIX — Risk / Return Rank

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

LCGFX

LCGFX Risk / Return Rank: 9
LCGFX Sharpe Ratio Rank: 11
LCGFX Sortino Ratio Rank: 10
LCGFX Omega Ratio Rank: 10
LCGFX Calmar Ratio Rank: 7
LCGFX Martin Ratio Rank: 7

WBEIX

WBEIX Risk / Return Rank: 88
WBEIX Sharpe Ratio Rank: 92
WBEIX Sortino Ratio Rank: 81
WBEIX Omega Ratio Rank: 84
WBEIX Calmar Ratio Rank: 92
WBEIX Martin Ratio Rank: 90

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.

LCGFX vs. WBEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for William Blair Large Cap Growth Fund (LCGFX) 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.

	LCGFX	WBEIX	Difference
Sharpe ratio: Return per unit of total volatility	0.81	2.87	-2.06
Sortino ratio: Return per unit of downside risk	1.17	3.52	-2.34
Omega ratio: Gain probability vs. loss probability	1.15	1.52	-0.37
Calmar ratio: Return relative to maximum drawdown	0.63	4.68	-4.05
Martin ratio: Return relative to average drawdown	1.74	16.74	-15.00

LCGFX vs. WBEIX - Sharpe Ratio Comparison

The current LCGFX Sharpe Ratio is 0.81, which is lower than the WBEIX Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of LCGFX 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

LCGFX vs. WBEIX - Drawdown Comparison

The maximum LCGFX drawdown since its inception was -62.95%, smaller than the maximum WBEIX drawdown of -71.18%. Use the drawdown chart below to compare losses from any high point for LCGFX and WBEIX.

Drawdown Indicators

	LCGFX	WBEIX	Difference
Max Drawdown Largest peak-to-trough decline	-62.95%	-71.18%	+8.23%
Max Drawdown (1Y) Largest decline over 1 year	-20.59%	-14.04%	-6.55%
Max Drawdown (3Y) Largest decline over 3 years	-23.83%	-19.64%	-4.19%
Max Drawdown (5Y) Largest decline over 5 years	-37.25%	-40.95%	+3.70%
Max Drawdown (10Y) Largest decline over 10 years	-37.25%	-43.75%	+6.50%
Current Drawdown Current decline from peak	-4.39%	0.00%	-4.39%
Average Drawdown Average peak-to-trough decline	-21.45%	-21.42%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.41%	3.91%	+3.50%

Volatility

LCGFX vs. WBEIX - Volatility Comparison

The current volatility for William Blair Large Cap Growth Fund (LCGFX) is 5.79%, while William Blair Emerging Markets Growth Fund (WBEIX) has a volatility of 11.13%. This indicates that LCGFX 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

	LCGFX	WBEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	11.13%	-5.34%
Volatility (6M) Calculated over the trailing 6-month period	12.53%	20.00%	-7.47%
Volatility (1Y) Calculated over the trailing 1-year period	16.03%	22.94%	-6.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.86%	17.31%	+4.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.33%	18.07%	+3.26%

LCGFX vs. WBEIX - Expense Ratio Comparison

LCGFX has a 0.65% expense ratio, which is lower than WBEIX's 1.11% expense ratio.

Dividends

LCGFX vs. WBEIX - Dividend Comparison

LCGFX's dividend yield for the trailing twelve months is around 8.41%, more than WBEIX's 0.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LCGFX William Blair Large Cap Growth Fund	8.41%	8.56%	5.97%	0.00%	0.82%	4.29%	3.83%	6.46%	17.08%	0.56%	1.10%	9.86%
WBEIX William Blair Emerging Markets Growth Fund	0.29%	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 LCGFX and WBEIX in my portfolio?

LCGFX and WBEIX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LCGFX or WBEIX?

WBEIX has higher volatility (11.13%) compared to LCGFX (5.79%). In terms of maximum drawdown, LCGFX dropped -62.95% vs WBEIX's -71.18%.

Which has better risk-adjusted returns?

WBEIX currently has the higher Sharpe Ratio (2.87 vs 0.81), 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.