WCMEX vs. WCMSX

Last updated Aug 4, 2026

WCMEX (WCM Focused Emerging Markets Fund Institutional Class) and WCMSX (WCM International Small Cap Growth Fund) are both mutual funds - WCMEX is a Emerging Markets Equities fund actively managed by WCM, while WCMSX is a Foreign Small & Mid Cap Equities fund managed by WCM. Over the past 10 years, WCMEX returned 9.75%/yr vs 11.30%/yr for WCMSX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. WCMEX charges 1.26%/yr vs 1.25%/yr for WCMSX.

Performance

WCMEX vs. WCMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WCM Focused Emerging Markets Fund Institutional Class (WCMEX) and WCM International Small Cap Growth Fund (WCMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WCMEX achieves a 18.93% return, which is significantly higher than WCMSX's 4.27% return. Over the past 10 years, WCMEX has underperformed WCMSX with an annualized return of 9.75%, while WCMSX has yielded a comparatively higher 11.30% annualized return.

WCMEX

• 1D: 2.58%
• 1M: -3.80%
• 6M: 10.71%
• YTD: 18.93%
• 1Y: 32.22%
• 3Y*: 20.42%
• 5Y*: 3.87%
• 10Y*: 9.75%
• ALL TIME*: 7.31%

WCMSX

• 1D: 0.16%
• 1M: -6.10%
• 6M: -1.32%
• YTD: 4.27%
• 1Y: 0.26%
• 3Y*: 11.03%
• 5Y*: -1.60%
• 10Y*: 11.30%
• ALL TIME*: 11.43%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
WCMEX WCM Focused Emerging Markets Fund Institutional Class	$0.00	$0.00	$0.00
WCMSX WCM International Small Cap Growth Fund	$0.00	$0.00	$0.00

WCMEX vs. WCMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WCMEX WCM Focused Emerging Markets Fund Institutional Class	18.93%	31.46%	10.07%	4.54%	-30.70%	-1.67%	36.52%	37.58%	-12.67%	40.91%
WCMSX WCM International Small Cap Growth Fund	4.27%	18.14%	4.33%	22.26%	-42.12%	16.65%	55.36%	45.02%	-8.94%	42.35%

Correlation

The correlation between WCMEX and WCMSX is 0.80, 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.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.78
Correlation (10Y) Provides a long-term view across more market conditions.	0.77
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.77

The correlation between WCMEX and WCMSX has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.

Return for Risk

WCMEX vs. WCMSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WCMEX

WCMEX Risk / Return Rank: 40
WCMEX Sharpe Ratio Rank: 35
WCMEX Sortino Ratio Rank: 32
WCMEX Omega Ratio Rank: 37
WCMEX Calmar Ratio Rank: 51
WCMEX Martin Ratio Rank: 45

WCMSX

WCMSX Risk / Return Rank: 4
WCMSX Sharpe Ratio Rank: 4
WCMSX Sortino Ratio Rank: 4
WCMSX Omega Ratio Rank: 4
WCMSX Calmar Ratio Rank: 4
WCMSX Martin Ratio Rank: 4

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WCMEX vs. WCMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WCM Focused Emerging Markets Fund Institutional Class (WCMEX) and WCM International Small Cap Growth Fund (WCMSX). 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	WCMSX	Difference
Sharpe ratio: Return per unit of total volatility	1.23	-0.01	+1.24
Sortino ratio: Return per unit of downside risk	1.69	0.12	+1.57
Omega ratio: Gain probability vs. loss probability	1.23	1.01	+0.22
Calmar ratio: Return relative to maximum drawdown	2.04	-0.02	+2.06
Martin ratio: Return relative to average drawdown	6.80	-0.05	+6.85

WCMEX vs. WCMSX - Sharpe Ratio Comparison

The current WCMEX Sharpe Ratio is 1.23, which is higher than the WCMSX Sharpe Ratio of -0.01. The chart below compares the historical Sharpe Ratios of WCMEX and WCMSX, 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. WCMSX - Drawdown Comparison

The maximum WCMEX drawdown since its inception was -46.05%, smaller than the maximum WCMSX drawdown of -51.60%. Use the drawdown chart below to compare losses from any high point for WCMEX and WCMSX.

Drawdown Indicators

	WCMEX	WCMSX	Difference
Max Drawdown Largest peak-to-trough decline	-46.05%	-51.60%	+5.55%
Max Drawdown (1Y) Largest decline over 1 year	-14.51%	-14.39%	-0.12%
Max Drawdown (3Y) Largest decline over 3 years	-19.05%	-18.77%	-0.28%
Max Drawdown (5Y) Largest decline over 5 years	-44.77%	-51.60%	+6.83%
Max Drawdown (10Y) Largest decline over 10 years	-46.05%	-51.60%	+5.55%
Current Drawdown Current decline from peak	-8.85%	-15.66%	+6.81%
Average Drawdown Average peak-to-trough decline	-14.58%	-15.71%	+1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.33%	4.94%	-0.61%

Volatility

WCMEX vs. WCMSX - Volatility Comparison

WCM Focused Emerging Markets Fund Institutional Class (WCMEX) has a higher volatility of 10.66% compared to WCM International Small Cap Growth Fund (WCMSX) at 7.40%. This indicates that WCMEX's price experiences larger fluctuations and is considered to be riskier than WCMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCMEX	WCMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.66%	7.40%	+3.26%
Volatility (6M) Calculated over the trailing 6-month period	21.43%	17.64%	+3.79%
Volatility (1Y) Calculated over the trailing 1-year period	24.09%	20.04%	+4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.66%	21.33%	-1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.22%	20.16%	-0.94%

WCMEX vs. WCMSX - Expense Ratio Comparison

WCMEX has a 1.26% expense ratio, which is higher than WCMSX's 1.25% expense ratio.

Dividends

WCMEX vs. WCMSX - Dividend Comparison

WCMEX has not paid dividends to shareholders, while WCMSX's dividend yield for the trailing twelve months is around 0.78%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
WCMSX WCM International Small Cap Growth Fund	0.78%	0.81%	1.31%	0.00%	0.00%	10.27%	2.73%	0.57%	4.04%	1.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WCMEX and WCMSX in my portfolio?

WCMEX and WCMSX have a correlation of 0.80, 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 WCMSX?

WCMEX has higher volatility (10.66%) compared to WCMSX (7.40%). In terms of maximum drawdown, WCMEX dropped -46.05% vs WCMSX's -51.60%.

Which has better risk-adjusted returns?

WCMEX currently has the higher Sharpe Ratio (1.23 vs -0.01), 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.