WBEIX vs. WGFIX

Last updated Jun 25, 2026

WBEIX (William Blair Emerging Markets Growth Fund) and WGFIX (William Blair Global Leaders Fund) are both mutual funds - WBEIX is a Emerging Markets Diversified fund managed by William Blair, while WGFIX is a Global Equities fund managed by William Blair. Over the past 10 years, WBEIX returned 11.73%/yr vs 11.47%/yr for WGFIX. A 0.73 correlation means they provide meaningful diversification when combined. WBEIX charges 1.11%/yr vs 0.90%/yr for WGFIX.

Performance

WBEIX vs. WGFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in William Blair Emerging Markets Growth Fund (WBEIX) and William Blair Global Leaders Fund (WGFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WBEIX achieves a 34.61% return, which is significantly higher than WGFIX's 6.80% return. Both investments have delivered pretty close results over the past 10 years, with WBEIX having a 11.73% annualized return and WGFIX not far behind at 11.47%.

WBEIX

• 1D: -4.48%
• 1M: 4.93%
• YTD: 34.61%
• 6M: 36.05%
• 1Y: 56.53%
• 3Y*: 24.96%
• 5Y*: 5.44%
• 10Y*: 11.73%

WGFIX

• 1D: -2.88%
• 1M: 1.29%
• YTD: 6.80%
• 6M: 6.32%
• 1Y: 16.69%
• 3Y*: 12.17%
• 5Y*: 4.03%
• 10Y*: 11.47%

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

WBEIX vs. WGFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WBEIX William Blair Emerging Markets Growth Fund	34.61%	25.18%	10.62%	10.23%	-33.15%	3.23%	40.77%	28.36%	-21.31%	48.82%
WGFIX William Blair Global Leaders Fund	6.80%	16.06%	7.52%	23.02%	-29.32%	16.71%	32.06%	31.97%	-8.04%	30.67%

Correlation

The correlation between WBEIX and WGFIX is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Oct 17, 2007	0.73

The correlation between WBEIX and WGFIX shifts across timeframes, from 0.62 (5 years) to 0.73 (all time), reflecting how their relationship changes across market environments.

Return for Risk

WBEIX vs. WGFIX — Risk / Return Rank

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

WBEIX

WBEIX Risk / Return Rank: 86
WBEIX Sharpe Ratio Rank: 90
WBEIX Sortino Ratio Rank: 77
WBEIX Omega Ratio Rank: 82
WBEIX Calmar Ratio Rank: 92
WBEIX Martin Ratio Rank: 90

WGFIX

WGFIX Risk / Return Rank: 23
WGFIX Sharpe Ratio Rank: 24
WGFIX Sortino Ratio Rank: 22
WGFIX Omega Ratio Rank: 25
WGFIX Calmar Ratio Rank: 19
WGFIX Martin Ratio Rank: 26

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.

WBEIX vs. WGFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for William Blair Emerging Markets Growth Fund (WBEIX) and William Blair Global Leaders Fund (WGFIX). 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.

	WBEIX	WGFIX	Difference
Sharpe ratio: Return per unit of total volatility	2.62	1.21	+1.41
Sortino ratio: Return per unit of downside risk	3.21	1.71	+1.50
Omega ratio: Gain probability vs. loss probability	1.47	1.23	+0.24
Calmar ratio: Return relative to maximum drawdown	4.38	1.40	+2.98
Martin ratio: Return relative to average drawdown	15.61	5.44	+10.17

WBEIX vs. WGFIX - Sharpe Ratio Comparison

The current WBEIX Sharpe Ratio is 2.62, which is higher than the WGFIX Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of WBEIX and WGFIX, 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

WBEIX vs. WGFIX - Drawdown Comparison

The maximum WBEIX drawdown since its inception was -71.18%, which is greater than WGFIX's maximum drawdown of -59.51%. Use the drawdown chart below to compare losses from any high point for WBEIX and WGFIX.

Drawdown Indicators

	WBEIX	WGFIX	Difference
Max Drawdown Largest peak-to-trough decline	-71.18%	-59.51%	-11.67%
Max Drawdown (1Y) Largest decline over 1 year	-14.04%	-13.11%	-0.93%
Max Drawdown (3Y) Largest decline over 3 years	-19.64%	-18.90%	-0.74%
Max Drawdown (5Y) Largest decline over 5 years	-40.95%	-38.76%	-2.19%
Max Drawdown (10Y) Largest decline over 10 years	-43.75%	-38.76%	-4.99%
Current Drawdown Current decline from peak	-4.48%	-2.88%	-1.60%
Average Drawdown Average peak-to-trough decline	-21.42%	-11.84%	-9.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.92%	3.35%	+0.57%

Volatility

WBEIX vs. WGFIX - Volatility Comparison

William Blair Emerging Markets Growth Fund (WBEIX) has a higher volatility of 12.03% compared to William Blair Global Leaders Fund (WGFIX) at 7.58%. This indicates that WBEIX's price experiences larger fluctuations and is considered to be riskier than WGFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WBEIX	WGFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.03%	7.58%	+4.45%
Volatility (6M) Calculated over the trailing 6-month period	20.54%	12.83%	+7.71%
Volatility (1Y) Calculated over the trailing 1-year period	23.45%	15.10%	+8.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.44%	18.99%	-1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.10%	18.91%	-0.81%

WBEIX vs. WGFIX - Expense Ratio Comparison

WBEIX has a 1.11% expense ratio, which is higher than WGFIX's 0.90% expense ratio.

Dividends

WBEIX vs. WGFIX - Dividend Comparison

WBEIX's dividend yield for the trailing twelve months is around 0.30%, less than WGFIX's 80.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WBEIX William Blair Emerging Markets Growth Fund	0.30%	0.41%	0.10%	0.53%	0.16%	21.21%	4.12%	4.31%	14.57%	0.94%	0.45%	1.11%
WGFIX William Blair Global Leaders Fund	80.09%	85.53%	54.25%	6.65%	2.17%	5.65%	12.57%	1.35%	17.62%	4.24%	0.72%	5.05%

Frequently Asked Questions

Can I hold both WBEIX and WGFIX in my portfolio?

WBEIX and WGFIX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WBEIX or WGFIX?

WBEIX has higher volatility (12.03%) compared to WGFIX (7.58%). In terms of maximum drawdown, WBEIX dropped -71.18% vs WGFIX's -59.51%.

Which has better risk-adjusted returns?

WBEIX currently has the higher Sharpe Ratio (2.62 vs 1.21), 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.