WCME vs. CLIP

Last updated Jun 23, 2026

WCME (First Trust WCM Developing World Equity ETF) and CLIP (Global X 1-3 Month T-Bill ETF) are both exchange-traded funds - WCME is a Emerging Markets Equities fund tracking the Actively Managed, while CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD. Both are passively managed. Over the past year, WCME returned 34.19% vs 3.97% for CLIP. At a correlation of -0.06, they often move in opposite directions. WCME charges 0.95%/yr vs 0.07%/yr for CLIP.

Performance

WCME vs. CLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust WCM Developing World Equity ETF (WCME) and Global X 1-3 Month T-Bill ETF (CLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WCME achieves a 17.58% return, which is significantly higher than CLIP's 1.71% return.

WCME

• 1D: 1.04%
• 1M: 5.83%
• YTD: 17.58%
• 6M: 19.22%
• 1Y: 34.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLIP

• 1D: 0.03%
• 1M: 0.29%
• YTD: 1.71%
• 6M: 1.82%
• 1Y: 3.97%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

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

WCME vs. CLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WCME First Trust WCM Developing World Equity ETF	17.58%	35.19%	-10.72%
CLIP Global X 1-3 Month T-Bill ETF	1.71%	4.23%	1.11%

Correlation

The correlation between WCME and CLIP is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (All Time) Calculated using the full available price history since Oct 7, 2024	-0.06

Return for Risk

WCME vs. CLIP — Risk / Return Rank

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

WCME

WCME Risk / Return Rank: 46
WCME Sharpe Ratio Rank: 47
WCME Sortino Ratio Rank: 43
WCME Omega Ratio Rank: 47
WCME Calmar Ratio Rank: 46
WCME Martin Ratio Rank: 46

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

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. CLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust WCM Developing World Equity ETF (WCME) and Global X 1-3 Month T-Bill ETF (CLIP). 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.

	WCME	CLIP	Difference
Sharpe ratio: Return per unit of total volatility	1.56	17.97	-16.41
Sortino ratio: Return per unit of downside risk	2.10	81.28	-79.18
Omega ratio: Gain probability vs. loss probability	1.29	26.48	-25.19
Calmar ratio: Return relative to maximum drawdown	2.20	142.41	-140.21
Martin ratio: Return relative to average drawdown	7.51	1,288.03	-1,280.52

WCME vs. CLIP - Sharpe Ratio Comparison

The current WCME Sharpe Ratio is 1.56, which is lower than the CLIP Sharpe Ratio of 17.97. The chart below compares the historical Sharpe Ratios of WCME and CLIP, 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

WCME vs. CLIP - Drawdown Comparison

The maximum WCME drawdown since its inception was -15.64%, which is greater than CLIP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for WCME and CLIP.

Drawdown Indicators

	WCME	CLIP	Difference
Max Drawdown Largest peak-to-trough decline	-15.64%	-0.08%	-15.56%
Max Drawdown (1Y) Largest decline over 1 year	-15.64%	-0.03%	-15.61%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.08%	—
Current Drawdown Current decline from peak	-0.09%	0.00%	-0.09%
Average Drawdown Average peak-to-trough decline	-3.70%	-0.00%	-3.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.57%	0.00%	+4.57%

Volatility

WCME vs. CLIP - Volatility Comparison

First Trust WCM Developing World Equity ETF (WCME) has a higher volatility of 10.59% compared to Global X 1-3 Month T-Bill ETF (CLIP) at 0.07%. This indicates that WCME's price experiences larger fluctuations and is considered to be riskier than CLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCME	CLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.59%	0.07%	+10.52%
Volatility (6M) Calculated over the trailing 6-month period	19.34%	0.15%	+19.19%
Volatility (1Y) Calculated over the trailing 1-year period	22.05%	0.22%	+21.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.68%	0.44%	+20.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.68%	0.44%	+20.24%

WCME vs. CLIP - Expense Ratio Comparison

WCME has a 0.95% expense ratio, which is higher than CLIP's 0.07% expense ratio.

Dividends

WCME vs. CLIP - Dividend Comparison

WCME's dividend yield for the trailing twelve months is around 0.58%, less than CLIP's 3.90% yield.

Position	TTM	2025	2024	2023
CLIP Global X 1-3 Month T-Bill ETF	3.90%	4.14%	5.11%	2.75%
WCME First Trust WCM Developing World Equity ETF	0.58%	0.68%	0.53%	0.00%

Frequently Asked Questions

Can I hold both WCME and CLIP in my portfolio?

WCME and CLIP have a correlation of -0.09, 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 CLIP?

WCME has higher volatility (10.59%) compared to CLIP (0.07%). In terms of maximum drawdown, WCME dropped -15.64% vs CLIP's -0.08%.

Which ETF is better, WCME or CLIP?

On 1-year performance, WCME leads with 34.19% vs 3.97% for CLIP. On fees, CLIP is cheaper at 0.07% per year. On volatility, CLIP has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WCME or CLIP?

Over the 1-year period, WCME has performed better with a 34.19% return vs 3.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WCME or CLIP?

CLIP is cheaper with a 0.07% expense ratio, compared with 0.95% for WCME.

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

CLIP has the higher dividend yield at 3.90%, compared with 0.58% for WCME.

What is the main difference between WCME and CLIP?

WCME is categorized as Emerging Markets Equities, while CLIP is Ultrashort Bond. WCME tracks Actively Managed, while CLIP tracks Solactive 1-3 month US T-Bill Index - USD. They also come from different issuers: First Trust and Global X. Their fees differ too: 0.95% for WCME and 0.07% for CLIP.

Which has better risk-adjusted returns?

CLIP currently has the higher Sharpe Ratio (17.97 vs 1.56), 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.