MSMLX vs. WSML.L

Last updated Apr 1, 2026

Compare and contrast key facts about Matthews Emerging Markets Small Companies Fund (MSMLX) and iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.L).

MSMLX is managed by Matthews. It was launched on Sep 14, 2008. WSML.L is a passively managed fund by iShares that tracks the performance of the MSCI World Small Cap Index. It was launched on Mar 27, 2018.

Performance

MSMLX vs. WSML.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Emerging Markets Small Companies Fund (MSMLX) and iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.L). The values are adjusted to include any dividend payments, if applicable.

MSMLX vs. WSML.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MSMLX Matthews Emerging Markets Small Companies Fund	-0.43%	13.50%	-6.10%	20.04%	-16.78%	26.40%	43.69%	17.38%	-19.35%
WSML.L iShares MSCI World Small Cap UCITS ETF USD (Acc)	0.11%	19.94%	7.40%	17.06%	-18.62%	15.23%	16.50%	24.35%	-12.64%

Returns By Period

In the year-to-date period, MSMLX achieves a -0.43% return, which is significantly lower than WSML.L's 0.11% return.

MSMLX

• 1D: -1.87%
• 1M: -12.08%
• YTD: -0.43%
• 6M: -1.97%
• 1Y: 15.42%
• 3Y*: 6.49%
• 5Y*: 5.95%
• 10Y*: 9.25%

WSML.L

• 1D: 0.51%
• 1M: -8.57%
• YTD: 0.11%
• 6M: 4.18%
• 1Y: 25.63%
• 3Y*: 12.98%
• 5Y*: 5.15%
• 10Y*: —

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

MSMLX vs. WSML.L - Expense Ratio Comparison

MSMLX has a 1.37% expense ratio, which is higher than WSML.L's 0.35% expense ratio.

MSMLX

Matthews Emerging Markets Small Companies Fund

WSML.L

iShares MSCI World Small Cap UCITS ETF USD (Acc)

Return for Risk

MSMLX vs. WSML.L — Risk / Return Rank

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

MSMLX

MSMLX Risk / Return Rank: 33
MSMLX Sharpe Ratio Rank: 40
MSMLX Sortino Ratio Rank: 38
MSMLX Omega Ratio Rank: 31
MSMLX Calmar Ratio Rank: 31
MSMLX Martin Ratio Rank: 27

WSML.L

WSML.L Risk / Return Rank: 80
WSML.L Sharpe Ratio Rank: 82
WSML.L Sortino Ratio Rank: 82
WSML.L Omega Ratio Rank: 77
WSML.L Calmar Ratio Rank: 78
WSML.L Martin Ratio Rank: 80

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.

MSMLX vs. WSML.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Emerging Markets Small Companies Fund (MSMLX) and iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.L). 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.

	MSMLX	WSML.L	Difference
Sharpe ratio Return per unit of total volatility	0.83	1.52	-0.69
Sortino ratio Return per unit of downside risk	1.20	2.09	-0.89
Omega ratio Gain probability vs. loss probability	1.16	1.29	-0.13
Calmar ratio Return relative to maximum drawdown	0.87	2.00	-1.13
Martin ratio Return relative to average drawdown	2.85	8.50	-5.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSMLX vs. WSML.L - Sharpe Ratio Comparison

The current MSMLX Sharpe Ratio is 0.83, which is lower than the WSML.L Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of MSMLX and WSML.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MSMLX	WSML.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	1.52	-0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.28	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.38	+0.20

Correlation

The correlation between MSMLX and WSML.L is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MSMLX vs. WSML.L - Dividend Comparison

MSMLX's dividend yield for the trailing twelve months is around 1.50%, while WSML.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSMLX Matthews Emerging Markets Small Companies Fund	1.50%	1.50%	3.95%	8.36%	8.04%	9.18%	0.28%	0.51%	21.31%	8.12%	0.43%	0.13%
WSML.L iShares MSCI World Small Cap UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

MSMLX vs. WSML.L - Drawdown Comparison

The maximum MSMLX drawdown since its inception was -36.40%, smaller than the maximum WSML.L drawdown of -41.14%. Use the drawdown chart below to compare losses from any high point for MSMLX and WSML.L.

Drawdown Indicators

	MSMLX	WSML.L	Difference
Max Drawdown Largest peak-to-trough decline	-36.40%	-41.14%	+4.74%
Max Drawdown (1Y) Largest decline over 1 year	-12.89%	-12.15%	-0.74%
Max Drawdown (5Y) Largest decline over 5 years	-28.00%	-30.50%	+2.50%
Max Drawdown (10Y) Largest decline over 10 years	-34.33%	—	—
Current Drawdown Current decline from peak	-12.89%	-8.57%	-4.32%
Average Drawdown Average peak-to-trough decline	-9.30%	-8.96%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	2.86%	+1.07%

Volatility

MSMLX vs. WSML.L - Volatility Comparison

Matthews Emerging Markets Small Companies Fund (MSMLX) has a higher volatility of 8.16% compared to iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.L) at 5.72%. This indicates that MSMLX's price experiences larger fluctuations and is considered to be riskier than WSML.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSMLX	WSML.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.16%	5.72%	+2.44%
Volatility (6M) Calculated over the trailing 6-month period	12.87%	10.27%	+2.60%
Volatility (1Y) Calculated over the trailing 1-year period	17.61%	16.77%	+0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.24%	18.38%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.83%	19.61%	-2.78%