WCFOX vs. FIQIX

Last updated Jun 3, 2026

WCFOX (WCM Focused International Opportunities Fund) and FIQIX (Fidelity Advisor International Small Cap Fund Class Z) are both Foreign Small & Mid Cap Equities funds. Over the past 5 years, WCFOX returned 6.32%/yr vs 6.41%/yr for FIQIX. Their correlation of 0.81 suggests significant overlap in exposure. WCFOX charges 1.50%/yr vs 0.89%/yr for FIQIX.

Performance

WCFOX vs. FIQIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WCM Focused International Opportunities Fund (WCFOX) and Fidelity Advisor International Small Cap Fund Class Z (FIQIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WCFOX achieves a 13.47% return, which is significantly higher than FIQIX's 10.24% return.

WCFOX

• 1D: 0.28%
• 1M: 5.58%
• YTD: 13.47%
• 6M: 15.10%
• 1Y: 26.23%
• 3Y*: 20.28%
• 5Y*: 6.32%
• 10Y*: —

FIQIX

• 1D: -0.37%
• 1M: 3.45%
• YTD: 10.24%
• 6M: 12.19%
• 1Y: 19.04%
• 3Y*: 14.55%
• 5Y*: 6.41%
• 10Y*: —

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

WCFOX vs. FIQIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
WCFOX WCM Focused International Opportunities Fund	13.47%	31.45%	6.14%	25.65%	-35.42%	7.30%
FIQIX Fidelity Advisor International Small Cap Fund Class Z	10.24%	24.80%	0.14%	19.76%	-16.53%	0.74%

Correlation

The correlation between WCFOX and FIQIX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.81

The correlation between WCFOX and FIQIX has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.

Return for Risk

WCFOX vs. FIQIX — Risk / Return Rank

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

WCFOX

WCFOX Risk / Return Rank: 25
WCFOX Sharpe Ratio Rank: 25
WCFOX Sortino Ratio Rank: 24
WCFOX Omega Ratio Rank: 26
WCFOX Calmar Ratio Rank: 24
WCFOX Martin Ratio Rank: 26

FIQIX

FIQIX Risk / Return Rank: 27
FIQIX Sharpe Ratio Rank: 29
FIQIX Sortino Ratio Rank: 29
FIQIX Omega Ratio Rank: 31
FIQIX Calmar Ratio Rank: 22
FIQIX 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.

WCFOX vs. FIQIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WCM Focused International Opportunities Fund (WCFOX) and Fidelity Advisor International Small Cap Fund Class Z (FIQIX). 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.

	WCFOX	FIQIX	Difference
Sharpe ratio Return per unit of total volatility	1.43	1.53	-0.11
Sortino ratio Return per unit of downside risk	2.06	2.22	-0.16
Omega ratio Gain probability vs. loss probability	1.27	1.29	-0.02
Calmar ratio Return relative to maximum drawdown	1.81	1.75	+0.07
Martin ratio Return relative to average drawdown	6.36	6.26	+0.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WCFOX vs. FIQIX - Sharpe Ratio Comparison

The current WCFOX Sharpe Ratio is 1.43, which is comparable to the FIQIX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of WCFOX and FIQIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WCFOX	FIQIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.43	1.53	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.47	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.60	-0.29

Drawdowns

WCFOX vs. FIQIX - Drawdown Comparison

The maximum WCFOX drawdown since its inception was -49.83%, which is greater than FIQIX's maximum drawdown of -36.61%. Use the drawdown chart below to compare losses from any high point for WCFOX and FIQIX.

Drawdown Indicators

	WCFOX	FIQIX	Difference
Max Drawdown Largest peak-to-trough decline	-49.83%	-36.61%	-13.22%
Max Drawdown (1Y) Largest decline over 1 year	-15.13%	-10.72%	-4.41%
Max Drawdown (3Y) Largest decline over 3 years	-19.34%	-12.65%	-6.69%
Max Drawdown (5Y) Largest decline over 5 years	-49.83%	-30.95%	-18.88%
Current Drawdown Current decline from peak	0.00%	-1.07%	+1.07%
Average Drawdown Average peak-to-trough decline	-21.72%	-6.77%	-14.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.31%	2.98%	+1.33%

Volatility

WCFOX vs. FIQIX - Volatility Comparison

WCM Focused International Opportunities Fund (WCFOX) has a higher volatility of 6.23% compared to Fidelity Advisor International Small Cap Fund Class Z (FIQIX) at 3.81%. This indicates that WCFOX's price experiences larger fluctuations and is considered to be riskier than FIQIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCFOX	FIQIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.23%	3.81%	+2.42%
Volatility (6M) Calculated over the trailing 6-month period	16.77%	10.15%	+6.62%
Volatility (1Y) Calculated over the trailing 1-year period	19.42%	12.23%	+7.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.38%	13.56%	+7.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.35%	15.15%	+6.20%

WCFOX vs. FIQIX - Expense Ratio Comparison

WCFOX has a 1.50% expense ratio, which is higher than FIQIX's 0.89% expense ratio.

Dividends

WCFOX vs. FIQIX - Dividend Comparison

WCFOX's dividend yield for the trailing twelve months is around 0.29%, less than FIQIX's 3.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FIQIX Fidelity Advisor International Small Cap Fund Class Z	3.34%	3.68%	2.73%	1.99%	0.83%	7.39%	0.93%	2.47%	6.33%
WCFOX WCM Focused International Opportunities Fund	0.29%	0.33%	3.57%	0.24%	0.00%	0.12%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WCFOX and FIQIX in my portfolio?

WCFOX and FIQIX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WCFOX or FIQIX?

WCFOX has higher volatility (6.23%) compared to FIQIX (3.81%). In terms of maximum drawdown, WCFOX dropped -49.83% vs FIQIX's -36.61%.

Which has better risk-adjusted returns?

FIQIX currently has the higher Sharpe Ratio (1.53 vs 1.43), 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.