WCMEX vs. FEMSX
WCMEX (WCM Focused Emerging Markets Fund Institutional Class) and FEMSX (Fidelity Series Emerging Markets Opportunities Fund) are both Emerging Markets Equities funds. Over the past 10 years, WCMEX returned 9.37%/yr vs 11.35%/yr for FEMSX. Their correlation of 0.89 means they have usually moved in the same direction. WCMEX charges 1.26%/yr vs 0.01%/yr for FEMSX.
Performance
WCMEX vs. FEMSX - Performance Comparison
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Returns By Period
In the year-to-date period, WCMEX achieves a 15.94% return, which is significantly lower than FEMSX's 20.45% return. Over the past 10 years, WCMEX has underperformed FEMSX with an annualized return of 9.37%, while FEMSX has yielded a comparatively higher 11.35% annualized return.
WCMEX
- 1D
- 3.93%
- 1M
- -6.22%
- 6M
- 7.20%
- YTD
- 15.94%
- 1Y
- 28.90%
- 3Y*
- 19.22%
- 5Y*
- 3.34%
- 10Y*
- 9.37%
- ALL TIME*
- 7.10%
FEMSX
- 1D
- 4.14%
- 1M
- -3.48%
- 6M
- 9.96%
- YTD
- 20.45%
- 1Y
- 42.08%
- 3Y*
- 21.01%
- 5Y*
- 8.08%
- 10Y*
- 11.35%
- ALL TIME*
- 10.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
WCMEX vs. FEMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WCMEX WCM Focused Emerging Markets Fund Institutional Class | 15.94% | 31.46% | 10.07% | 4.54% | -30.70% | -1.67% | 36.52% | 37.58% | -12.67% | 40.91% |
FEMSX Fidelity Series Emerging Markets Opportunities Fund | 20.45% | 37.92% | 7.84% | 14.23% | -23.95% | -5.14% | 24.72% | 28.87% | -16.20% | 49.92% |
Correlation
The correlation between WCMEX and FEMSX is 0.86, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2013 | 0.89 |
The correlation between WCMEX and FEMSX has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.
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Return for Risk
WCMEX vs. FEMSX — Risk / Return Rank
WCMEX
FEMSX
WCMEX vs. FEMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WCM Focused Emerging Markets Fund Institutional Class (WCMEX) and Fidelity Series Emerging Markets Opportunities Fund (FEMSX). 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.
| WCMEX | FEMSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.31 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 2.94 | -1.13 |
| Martin ratioReturn relative to average drawdown | 6.08 | 9.26 | -3.18 |
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Drawdowns
WCMEX vs. FEMSX - Drawdown Comparison
The maximum WCMEX drawdown since its inception was -46.05%, roughly equal to the maximum FEMSX drawdown of -44.16%. Use the drawdown chart below to compare losses from any high point for WCMEX and FEMSX.
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Drawdown Indicators
| WCMEX | FEMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.05% | -44.16% | -1.89% |
Max Drawdown (1Y)Largest decline over 1 year | -14.51% | -13.47% | -1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -19.05% | -17.04% | -2.01% |
Max Drawdown (5Y)Largest decline over 5 years | -44.77% | -39.12% | -5.65% |
Max Drawdown (10Y)Largest decline over 10 years | -46.05% | -44.16% | -1.89% |
Current DrawdownCurrent decline from peak | -11.15% | -9.89% | -1.26% |
Average DrawdownAverage peak-to-trough decline | -14.59% | -13.34% | -1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.29% | 4.27% | +0.02% |
Volatility
WCMEX vs. FEMSX - Volatility Comparison
WCM Focused Emerging Markets Fund Institutional Class (WCMEX) has a higher volatility of 10.25% compared to Fidelity Series Emerging Markets Opportunities Fund (FEMSX) at 9.64%. This indicates that WCMEX's price experiences larger fluctuations and is considered to be riskier than FEMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WCMEX | FEMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.25% | 9.64% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 21.34% | 21.81% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.97% | 23.84% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.64% | 19.97% | -0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.21% | 19.75% | -0.54% |
WCMEX vs. FEMSX - Expense Ratio Comparison
WCMEX has a 1.26% expense ratio, which is higher than FEMSX's 0.01% expense ratio.
Dividends
WCMEX vs. FEMSX - Dividend Comparison
WCMEX has not paid dividends to shareholders, while FEMSX's dividend yield for the trailing twelve months is around 2.03%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEMSX Fidelity Series Emerging Markets Opportunities Fund | 2.03% | 2.45% | 2.08% | 2.82% | 2.39% | 12.83% | 2.99% | 2.48% | 9.42% | 8.98% | 1.46% | 1.27% |
WCMEX WCM Focused Emerging Markets Fund Institutional Class | 0.00% | 0.00% | 0.00% | 0.46% | 0.47% | 4.37% | 0.87% | 0.37% | 0.76% | 0.76% | 0.76% | 0.42% |
Frequently Asked Questions
WCMEX and FEMSX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WCMEX has higher volatility (10.25%) compared to FEMSX (9.64%). In terms of maximum drawdown, WCMEX dropped -46.05% vs FEMSX's -44.16%.
FEMSX currently has the higher Sharpe Ratio (1.66 vs 1.09), 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.
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