WCFOX vs. JOEMX

Last updated Jun 3, 2026

WCFOX (WCM Focused International Opportunities Fund) and JOEMX (JOHCM Emerging Markets Opportunities Fund) are both mutual funds - WCFOX is a Foreign Small & Mid Cap Equities fund managed by WCM Investment Management, while JOEMX is a Emerging Markets Diversified fund managed by JOHCM Funds. Over the past 5 years, WCFOX returned 6.32%/yr vs 7.58%/yr for JOEMX. A 0.63 correlation means they provide meaningful diversification when combined. WCFOX charges 1.50%/yr vs 1.02%/yr for JOEMX.

Performance

WCFOX vs. JOEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WCM Focused International Opportunities Fund (WCFOX) and JOHCM Emerging Markets Opportunities Fund (JOEMX). 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 lower than JOEMX's 20.59% return.

WCFOX

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

JOEMX

• 1D: 0.39%
• 1M: 8.31%
• YTD: 20.59%
• 6M: 23.38%
• 1Y: 44.53%
• 3Y*: 21.59%
• 5Y*: 7.58%
• 10Y*: 9.94%

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

WCFOX vs. JOEMX - 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%
JOEMX JOHCM Emerging Markets Opportunities Fund	20.59%	36.38%	6.03%	7.18%	-15.74%	-5.64%

Correlation

The correlation between WCFOX and JOEMX is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.63

The correlation between WCFOX and JOEMX has been stable across timeframes, ranging from 0.59 to 0.63 - a consistent structural relationship.

Return for Risk

WCFOX vs. JOEMX — 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

JOEMX

JOEMX Risk / Return Rank: 66
JOEMX Sharpe Ratio Rank: 81
JOEMX Sortino Ratio Rank: 64
JOEMX Omega Ratio Rank: 74
JOEMX Calmar Ratio Rank: 57
JOEMX Martin Ratio Rank: 55

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. JOEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WCM Focused International Opportunities Fund (WCFOX) and JOHCM Emerging Markets Opportunities Fund (JOEMX). 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	JOEMX	Difference
Sharpe ratio Return per unit of total volatility	1.43	2.63	-1.20
Sortino ratio Return per unit of downside risk	2.06	3.36	-1.30
Omega ratio Gain probability vs. loss probability	1.27	1.49	-0.22
Calmar ratio Return relative to maximum drawdown	1.81	2.91	-1.10
Martin ratio Return relative to average drawdown	6.36	11.12	-4.76
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. JOEMX - Sharpe Ratio Comparison

The current WCFOX Sharpe Ratio is 1.43, which is lower than the JOEMX Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of WCFOX and JOEMX, 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	JOEMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.43	2.63	-1.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.46	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.37	-0.06

Drawdowns

WCFOX vs. JOEMX - Drawdown Comparison

The maximum WCFOX drawdown since its inception was -49.83%, which is greater than JOEMX's maximum drawdown of -38.23%. Use the drawdown chart below to compare losses from any high point for WCFOX and JOEMX.

Drawdown Indicators

	WCFOX	JOEMX	Difference
Max Drawdown Largest peak-to-trough decline	-49.83%	-38.23%	-11.60%
Max Drawdown (1Y) Largest decline over 1 year	-15.13%	-15.66%	+0.53%
Max Drawdown (3Y) Largest decline over 3 years	-19.34%	-15.73%	-3.61%
Max Drawdown (5Y) Largest decline over 5 years	-49.83%	-29.48%	-20.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.23%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-21.72%	-11.57%	-10.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.31%	4.10%	+0.21%

Volatility

WCFOX vs. JOEMX - Volatility Comparison

WCM Focused International Opportunities Fund (WCFOX) has a higher volatility of 6.23% compared to JOHCM Emerging Markets Opportunities Fund (JOEMX) at 5.55%. This indicates that WCFOX's price experiences larger fluctuations and is considered to be riskier than JOEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCFOX	JOEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.23%	5.55%	+0.68%
Volatility (6M) Calculated over the trailing 6-month period	16.77%	14.79%	+1.98%
Volatility (1Y) Calculated over the trailing 1-year period	19.42%	17.49%	+1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.38%	16.60%	+4.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.35%	17.09%	+4.26%

WCFOX vs. JOEMX - Expense Ratio Comparison

WCFOX has a 1.50% expense ratio, which is higher than JOEMX's 1.02% expense ratio.

Dividends

WCFOX vs. JOEMX - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JOEMX JOHCM Emerging Markets Opportunities Fund	3.34%	4.03%	1.22%	1.76%	2.08%	3.67%	1.13%	3.85%	4.55%	0.63%	0.86%
WCFOX WCM Focused International Opportunities Fund	0.29%	0.33%	3.57%	0.24%	0.00%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WCFOX and JOEMX in my portfolio?

WCFOX and JOEMX have a correlation of 0.59, 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 JOEMX?

WCFOX has higher volatility (6.23%) compared to JOEMX (5.55%). In terms of maximum drawdown, WCFOX dropped -49.83% vs JOEMX's -38.23%.

Which has better risk-adjusted returns?

JOEMX currently has the higher Sharpe Ratio (2.63 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.