WCMEX vs. SFENX

Last updated Jun 25, 2026

WCMEX (WCM Focused Emerging Markets Fund Institutional Class) and SFENX (Schwab Fundamental Emerging Markets Equity Index Fund) are both Emerging Markets Equities funds. WCMEX is actively managed, while SFENX is passively managed. Over the past 10 years, WCMEX returned 11.10%/yr vs 10.87%/yr for SFENX. A 0.79 correlation means they provide meaningful diversification when combined. WCMEX charges 1.26%/yr vs 0.39%/yr for SFENX.

Performance

WCMEX vs. SFENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WCM Focused Emerging Markets Fund Institutional Class (WCMEX) and Schwab Fundamental Emerging Markets Equity Index Fund (SFENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WCMEX achieves a 25.22% return, which is significantly higher than SFENX's 11.20% return. Both investments have delivered pretty close results over the past 10 years, with WCMEX having a 11.10% annualized return and SFENX not far behind at 10.87%.

WCMEX

• 1D: -4.03%
• 1M: 3.98%
• YTD: 25.22%
• 6M: 25.80%
• 1Y: 40.35%
• 3Y*: 23.60%
• 5Y*: 3.92%
• 10Y*: 11.10%

SFENX

• 1D: -2.32%
• 1M: -1.02%
• YTD: 11.20%
• 6M: 11.59%
• 1Y: 27.09%
• 3Y*: 19.75%
• 5Y*: 9.04%
• 10Y*: 10.87%

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

WCMEX vs. SFENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WCMEX WCM Focused Emerging Markets Fund Institutional Class	25.22%	31.46%	10.07%	4.54%	-30.70%	-1.67%	36.52%	37.58%	-12.67%	40.91%
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	11.20%	29.19%	12.31%	14.90%	-15.50%	13.91%	-3.01%	19.46%	-9.96%	26.44%

Correlation

The correlation between WCMEX and SFENX 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	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jul 2, 2013	0.79

The correlation between WCMEX and SFENX has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.

Return for Risk

WCMEX vs. SFENX — Risk / Return Rank

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

WCMEX

WCMEX Risk / Return Rank: 72
WCMEX Sharpe Ratio Rank: 70
WCMEX Sortino Ratio Rank: 56
WCMEX Omega Ratio Rank: 69
WCMEX Calmar Ratio Rank: 90
WCMEX Martin Ratio Rank: 77

SFENX

SFENX Risk / Return Rank: 62
SFENX Sharpe Ratio Rank: 62
SFENX Sortino Ratio Rank: 56
SFENX Omega Ratio Rank: 60
SFENX Calmar Ratio Rank: 73
SFENX Martin Ratio Rank: 58

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.

WCMEX vs. SFENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WCM Focused Emerging Markets Fund Institutional Class (WCMEX) and Schwab Fundamental Emerging Markets Equity Index Fund (SFENX). 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	SFENX	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.12	-0.08
Sortino ratio: Return per unit of downside risk	2.60	2.86	-0.25
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	4.11	3.15	+0.96
Martin ratio: Return relative to average drawdown	12.24	10.89	+1.35

WCMEX vs. SFENX - Sharpe Ratio Comparison

The current WCMEX Sharpe Ratio is 2.04, which is comparable to the SFENX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of WCMEX and SFENX, 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

WCMEX vs. SFENX - Drawdown Comparison

The maximum WCMEX drawdown since its inception was -46.05%, roughly equal to the maximum SFENX drawdown of -47.19%. Use the drawdown chart below to compare losses from any high point for WCMEX and SFENX.

Drawdown Indicators

	WCMEX	SFENX	Difference
Max Drawdown Largest peak-to-trough decline	-46.05%	-47.19%	+1.14%
Max Drawdown (1Y) Largest decline over 1 year	-10.74%	-9.45%	-1.29%
Max Drawdown (3Y) Largest decline over 3 years	-19.05%	-16.51%	-2.54%
Max Drawdown (5Y) Largest decline over 5 years	-44.77%	-29.26%	-15.51%
Max Drawdown (10Y) Largest decline over 10 years	-46.05%	-39.59%	-6.46%
Current Drawdown Current decline from peak	-4.03%	-5.19%	+1.16%
Average Drawdown Average peak-to-trough decline	-14.65%	-12.86%	-1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	2.73%	+0.85%

Volatility

WCMEX vs. SFENX - Volatility Comparison

WCM Focused Emerging Markets Fund Institutional Class (WCMEX) has a higher volatility of 11.52% compared to Schwab Fundamental Emerging Markets Equity Index Fund (SFENX) at 5.83%. This indicates that WCMEX's price experiences larger fluctuations and is considered to be riskier than SFENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCMEX	SFENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.52%	5.83%	+5.69%
Volatility (6M) Calculated over the trailing 6-month period	18.72%	11.74%	+6.98%
Volatility (1Y) Calculated over the trailing 1-year period	21.62%	14.01%	+7.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.18%	15.53%	+3.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.96%	16.84%	+2.12%

WCMEX vs. SFENX - Expense Ratio Comparison

WCMEX has a 1.26% expense ratio, which is higher than SFENX's 0.39% expense ratio.

Dividends

WCMEX vs. SFENX - Dividend Comparison

WCMEX has not paid dividends to shareholders, while SFENX's dividend yield for the trailing twelve months is around 3.54%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	3.54%	3.93%	4.67%	5.00%	5.46%	4.61%	2.95%	3.82%	2.90%	2.37%	2.16%	3.23%
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

Can I hold both WCMEX and SFENX in my portfolio?

WCMEX and SFENX 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, WCMEX or SFENX?

WCMEX has higher volatility (11.52%) compared to SFENX (5.83%). In terms of maximum drawdown, WCMEX dropped -46.05% vs SFENX's -47.19%.

Which has better risk-adjusted returns?

SFENX currently has the higher Sharpe Ratio (2.12 vs 2.04), 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.