WBELX vs. WBIGX

Last updated Jun 23, 2026

WBELX (William Blair Emerging Markets Leaders Fund) and WBIGX (William Blair International Growth Fund) are both mutual funds - WBELX is a Emerging Markets Diversified fund managed by William Blair, while WBIGX is a Foreign Large Cap Equities fund managed by William Blair. Over the past 10 years, WBELX returned 8.40%/yr vs 8.61%/yr for WBIGX. A 0.80 correlation means they provide meaningful diversification when combined. WBELX charges 1.05%/yr vs 1.31%/yr for WBIGX.

Performance

WBELX vs. WBIGX - Performance Comparison

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

Returns By Period

In the year-to-date period, WBELX achieves a 20.10% return, which is significantly higher than WBIGX's 17.62% return. Both investments have delivered pretty close results over the past 10 years, with WBELX having a 8.40% annualized return and WBIGX not far ahead at 8.61%.

WBELX

• 1D: 2.88%
• 1M: 6.42%
• YTD: 20.10%
• 6M: 21.15%
• 1Y: 40.75%
• 3Y*: 16.88%
• 5Y*: 2.69%
• 10Y*: 8.40%

WBIGX

• 1D: 1.76%
• 1M: 4.51%
• YTD: 17.62%
• 6M: 18.44%
• 1Y: 27.63%
• 3Y*: 12.98%
• 5Y*: 3.39%
• 10Y*: 8.61%

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

WBELX vs. WBIGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WBELX William Blair Emerging Markets Leaders Fund	20.10%	26.44%	5.86%	6.14%	-25.85%	-7.51%	27.53%	28.37%	-17.41%	41.89%
WBIGX William Blair International Growth Fund	17.62%	17.90%	2.11%	15.16%	-28.65%	8.61%	31.66%	30.25%	-17.99%	29.10%

Correlation

The correlation between WBELX and WBIGX is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Mar 27, 2008	0.80

The correlation between WBELX and WBIGX has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.

Return for Risk

WBELX vs. WBIGX — Risk / Return Rank

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

WBELX

WBELX Risk / Return Rank: 53
WBELX Sharpe Ratio Rank: 55
WBELX Sortino Ratio Rank: 47
WBELX Omega Ratio Rank: 56
WBELX Calmar Ratio Rank: 57
WBELX Martin Ratio Rank: 51

WBIGX

WBIGX Risk / Return Rank: 37
WBIGX Sharpe Ratio Rank: 37
WBIGX Sortino Ratio Rank: 34
WBIGX Omega Ratio Rank: 43
WBIGX Calmar Ratio Rank: 33
WBIGX Martin Ratio Rank: 37

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.

WBELX vs. WBIGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for William Blair Emerging Markets Leaders Fund (WBELX) and William Blair International Growth Fund (WBIGX). 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.

	WBELX	WBIGX	Difference
Sharpe ratio: Return per unit of total volatility	2.02	1.65	+0.37
Sortino ratio: Return per unit of downside risk	2.67	2.27	+0.39
Omega ratio: Gain probability vs. loss probability	1.38	1.33	+0.05
Calmar ratio: Return relative to maximum drawdown	2.77	2.05	+0.71
Martin ratio: Return relative to average drawdown	9.83	7.63	+2.20

WBELX vs. WBIGX - Sharpe Ratio Comparison

The current WBELX Sharpe Ratio is 2.02, which is comparable to the WBIGX Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of WBELX and WBIGX, 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

WBELX vs. WBIGX - Drawdown Comparison

The maximum WBELX drawdown since its inception was -64.98%, roughly equal to the maximum WBIGX drawdown of -65.35%. Use the drawdown chart below to compare losses from any high point for WBELX and WBIGX.

Drawdown Indicators

	WBELX	WBIGX	Difference
Max Drawdown Largest peak-to-trough decline	-64.98%	-65.35%	+0.37%
Max Drawdown (1Y) Largest decline over 1 year	-14.72%	-13.23%	-1.49%
Max Drawdown (3Y) Largest decline over 3 years	-16.98%	-17.22%	+0.24%
Max Drawdown (5Y) Largest decline over 5 years	-39.63%	-41.18%	+1.55%
Max Drawdown (10Y) Largest decline over 10 years	-45.26%	-41.18%	-4.08%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-18.74%	-14.74%	-4.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	3.55%	+0.58%

Volatility

WBELX vs. WBIGX - Volatility Comparison

William Blair Emerging Markets Leaders Fund (WBELX) has a higher volatility of 9.94% compared to William Blair International Growth Fund (WBIGX) at 7.60%. This indicates that WBELX's price experiences larger fluctuations and is considered to be riskier than WBIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WBELX	WBIGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.94%	7.60%	+2.34%
Volatility (6M) Calculated over the trailing 6-month period	17.42%	14.55%	+2.87%
Volatility (1Y) Calculated over the trailing 1-year period	20.17%	16.51%	+3.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.19%	16.97%	+0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.73%	17.33%	+0.40%

WBELX vs. WBIGX - Expense Ratio Comparison

WBELX has a 1.05% expense ratio, which is lower than WBIGX's 1.31% expense ratio.

Dividends

WBELX vs. WBIGX - Dividend Comparison

WBELX's dividend yield for the trailing twelve months is around 0.73%, less than WBIGX's 16.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WBELX William Blair Emerging Markets Leaders Fund	0.73%	0.88%	0.25%	0.78%	0.99%	8.25%	1.00%	0.88%	10.92%	0.67%	0.13%	0.46%
WBIGX William Blair International Growth Fund	16.13%	18.97%	7.47%	3.38%	7.92%	11.75%	0.82%	1.07%	8.56%	1.28%	1.51%	0.92%

Frequently Asked Questions

Can I hold both WBELX and WBIGX in my portfolio?

WBELX and WBIGX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WBELX or WBIGX?

WBELX has higher volatility (9.94%) compared to WBIGX (7.60%). In terms of maximum drawdown, WBELX dropped -64.98% vs WBIGX's -65.35%.

Which has better risk-adjusted returns?

WBELX currently has the higher Sharpe Ratio (2.02 vs 1.65), 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.