WCME vs. AIRR

Last updated Jun 4, 2026

WCME (First Trust WCM Developing World Equity ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - WCME is a Emerging Markets Equities fund tracking the Actively Managed, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance (TR). Both are passively managed. Over the past year, WCME returned 30.37% vs 65.82% for AIRR. A 0.56 correlation means they provide meaningful diversification when combined. WCME charges 0.95%/yr vs 0.70%/yr for AIRR.

Performance

WCME vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust WCM Developing World Equity ETF (WCME) and First Trust RBA American Industrial Renaissance ETF (AIRR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WCME achieves a 14.93% return, which is significantly lower than AIRR's 31.77% return.

WCME

• 1D: -2.35%
• 1M: 4.53%
• YTD: 14.93%
• 6M: 15.02%
• 1Y: 30.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIRR

• 1D: 0.54%
• 1M: 3.36%
• YTD: 31.77%
• 6M: 31.32%
• 1Y: 65.82%
• 3Y*: 37.10%
• 5Y*: 25.40%
• 10Y*: 21.89%

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

WCME vs. AIRR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WCME First Trust WCM Developing World Equity ETF	14.93%	35.19%	-10.72%
AIRR First Trust RBA American Industrial Renaissance ETF	31.77%	27.92%	3.38%

Correlation

The correlation between WCME and AIRR is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Oct 8, 2024	0.56

The correlation between WCME and AIRR has been stable across timeframes, ranging from 0.56 to 0.56 - a consistent structural relationship.

WCME vs. AIRR - Sectors Allocation Comparison

Sectors	WCME	AIRR
Technology	32.4%	0.5%
Financial Services	16.9%	9.6%
Consumer Cyclical	12.6%	-
Healthcare	11.0%	-
Industrials	8.7%	84.6%
Basic Materials	6.5%	-
Energy	5.0%	3.8%
Communication Services	3.6%	-
Utilities	3.2%	-
Consumer Defensive	3.0%	-
Real Estate	-	-

Return for Risk

WCME vs. AIRR — Risk / Return Rank

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

WCME

WCME Risk / Return Rank: 43
WCME Sharpe Ratio Rank: 44
WCME Sortino Ratio Rank: 42
WCME Omega Ratio Rank: 44
WCME Calmar Ratio Rank: 40
WCME Martin Ratio Rank: 44

AIRR

AIRR Risk / Return Rank: 78
AIRR Sharpe Ratio Rank: 79
AIRR Sortino Ratio Rank: 73
AIRR Omega Ratio Rank: 67
AIRR Calmar Ratio Rank: 87
AIRR Martin Ratio Rank: 86

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.

WCME vs. AIRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust WCM Developing World Equity ETF (WCME) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.

	WCME	AIRR	Difference
Sharpe ratio: Return per unit of total volatility	1.51	2.61	-1.10
Sortino ratio: Return per unit of downside risk	2.08	3.37	-1.30
Omega ratio: Gain probability vs. loss probability	1.28	1.41	-0.14
Calmar ratio: Return relative to maximum drawdown	1.95	5.05	-3.10
Martin ratio: Return relative to average drawdown	6.96	18.68	-11.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WCME vs. AIRR - Sharpe Ratio Comparison

The current WCME Sharpe Ratio is 1.51, which is lower than the AIRR Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of WCME and AIRR, 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

	WCME	AIRR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	2.61	-1.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.01	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	0.67	+0.45

Drawdowns

WCME vs. AIRR - Drawdown Comparison

The maximum WCME drawdown since its inception was -15.64%, smaller than the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for WCME and AIRR.

Drawdown Indicators

	WCME	AIRR	Difference
Max Drawdown Largest peak-to-trough decline	-15.64%	-42.37%	+26.73%
Max Drawdown (1Y) Largest decline over 1 year	-15.64%	-13.09%	-2.55%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.95%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.37%	—
Current Drawdown Current decline from peak	-2.35%	-1.86%	-0.49%
Average Drawdown Average peak-to-trough decline	-3.67%	-7.43%	+3.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.38%	3.53%	+0.85%

Volatility

WCME vs. AIRR - Volatility Comparison

First Trust WCM Developing World Equity ETF (WCME) and First Trust RBA American Industrial Renaissance ETF (AIRR) have volatilities of 8.11% and 7.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCME	AIRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.11%	7.87%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	17.23%	19.82%	-2.59%
Volatility (1Y) Calculated over the trailing 1-year period	20.16%	25.40%	-5.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.74%	25.29%	-5.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.74%	26.29%	-6.55%

WCME vs. AIRR - Expense Ratio Comparison

WCME has a 0.95% expense ratio, which is higher than AIRR's 0.70% expense ratio.

Dividends

WCME vs. AIRR - Dividend Comparison

WCME's dividend yield for the trailing twelve months is around 0.60%, more than AIRR's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIRR First Trust RBA American Industrial Renaissance ETF	0.13%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%
WCME First Trust WCM Developing World Equity ETF	0.60%	0.68%	0.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WCME and AIRR in my portfolio?

WCME and AIRR have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WCME or AIRR?

WCME has higher volatility (8.11%) compared to AIRR (7.87%). In terms of maximum drawdown, WCME dropped -15.64% vs AIRR's -42.37%.

Which ETF is better, WCME or AIRR?

On 1-year performance, AIRR leads with 65.82% vs 30.37% for WCME. On fees, AIRR is cheaper at 0.70% per year. On volatility, AIRR has been the lower-risk option at 7.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WCME or AIRR?

Over the 1-year period, AIRR has performed better with a 65.82% return vs 30.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WCME or AIRR?

AIRR is cheaper with a 0.70% expense ratio, compared with 0.95% for WCME.

Which ETF pays a higher dividend yield, WCME or AIRR?

WCME has the higher dividend yield at 0.60%, compared with 0.13% for AIRR.

What is the main difference between WCME and AIRR?

WCME is categorized as Emerging Markets Equities, while AIRR is Building & Construction. WCME tracks Actively Managed, while AIRR tracks Richard Bernstein Advisors American Industrial Renaissance (TR). Their fees differ too: 0.95% for WCME and 0.70% for AIRR.

Which has better risk-adjusted returns?

AIRR currently has the higher Sharpe Ratio (2.61 vs 1.51), 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.