WCMI vs. AIRR
WCMI (First Trust WCM International Equity ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - WCMI is a Foreign Large Cap Equities fund actively managed by First Trust, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index. WCMI is actively managed, while AIRR is passively managed. Over the past year, WCMI returned 23.73% vs 63.86% for AIRR. A 0.62 correlation means they provide meaningful diversification when combined. WCMI charges 0.85%/yr vs 0.69%/yr for AIRR.
Performance
WCMI vs. AIRR - Performance Comparison
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Returns By Period
In the year-to-date period, WCMI achieves a 15.33% return, which is significantly lower than AIRR's 35.61% return.
WCMI
- 1D
- 1.14%
- 1M
- 2.39%
- YTD
- 15.33%
- 6M
- 14.86%
- 1Y
- 23.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AIRR
- 1D
- 1.27%
- 1M
- 3.15%
- YTD
- 35.61%
- 6M
- 33.90%
- 1Y
- 63.86%
- 3Y*
- 35.35%
- 5Y*
- 26.64%
- 10Y*
- 22.11%
WCMI vs. AIRR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
WCMI First Trust WCM International Equity ETF | 15.33% | 30.32% | -5.10% |
AIRR First Trust RBA American Industrial Renaissance ETF | 35.61% | 27.92% | 3.41% |
Correlation
The correlation between WCMI and AIRR is 0.65, 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 | 0.65 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2024 | 0.62 |
The correlation between WCMI and AIRR has been stable across timeframes, ranging from 0.62 to 0.65 - a consistent structural relationship.
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Return for Risk
WCMI vs. AIRR — Risk / Return Rank
WCMI
AIRR
WCMI vs. AIRR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust WCM International Equity ETF (WCMI) 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.
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.
| WCMI | AIRR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.38 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 4.90 | -3.00 |
| Martin ratioReturn relative to average drawdown | 7.08 | 17.87 | -10.79 |
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Drawdowns
WCMI vs. AIRR - Drawdown Comparison
The maximum WCMI drawdown since its inception was -12.79%, smaller than the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for WCMI and AIRR.
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Drawdown Indicators
| WCMI | AIRR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.79% | -42.37% | +29.58% |
Max Drawdown (1Y)Largest decline over 1 year | -12.49% | -13.09% | +0.60% |
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 DrawdownCurrent decline from peak | -1.47% | 0.00% | -1.47% |
Average DrawdownAverage peak-to-trough decline | -2.25% | -7.46% | +5.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 3.59% | -0.23% |
Volatility
WCMI vs. AIRR - Volatility Comparison
The current volatility for First Trust WCM International Equity ETF (WCMI) is 7.62%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 9.08%. This indicates that WCMI experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WCMI | AIRR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.62% | 9.08% | -1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 16.52% | 20.85% | -4.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.24% | 26.49% | -7.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.48% | 25.47% | -6.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.48% | 26.31% | -7.83% |
WCMI vs. AIRR - Expense Ratio Comparison
WCMI has a 0.85% expense ratio, which is higher than AIRR's 0.69% expense ratio.
Dividends
WCMI vs. AIRR - Dividend Comparison
WCMI's dividend yield for the trailing twelve months is around 0.53%, more than AIRR's 0.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIRR First Trust RBA American Industrial Renaissance ETF | 0.08% | 0.19% | 0.18% | 0.23% | 0.12% | 0.05% | 0.10% | 0.20% | 0.43% | 0.30% | 0.08% | 0.47% |
WCMI First Trust WCM International Equity ETF | 0.53% | 0.78% | 15.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WCMI and AIRR have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AIRR has higher volatility (9.08%) compared to WCMI (7.62%). In terms of maximum drawdown, WCMI dropped -12.79% vs AIRR's -42.37%.
On 1-year performance, AIRR leads with 63.86% vs 23.73% for WCMI. On fees, AIRR is cheaper at 0.69% per year. On volatility, WCMI has been the lower-risk option at 7.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AIRR has performed better with a 63.86% return vs 23.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AIRR is cheaper with a 0.69% expense ratio, compared with 0.85% for WCMI.
WCMI has the higher dividend yield at 0.53%, compared with 0.08% for AIRR.
WCMI is categorized as Foreign Large Cap Equities, while AIRR is Building & Construction. Their fees differ too: 0.85% for WCMI and 0.69% for AIRR.
AIRR currently has the higher Sharpe Ratio (2.42 vs 1.24), 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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