WCMI vs. IDEV

Last updated Jul 1, 2026

WCMI (First Trust WCM International Equity ETF) and IDEV (iShares Core MSCI International Developed Markets ETF) are both Foreign Large Cap Equities funds. WCMI is actively managed, while IDEV is passively managed. Over the past year, WCMI returned 23.73% vs 21.04% for IDEV. Their correlation of 0.84 suggests significant overlap in exposure. WCMI charges 0.85%/yr vs 0.05%/yr for IDEV.

Performance

WCMI vs. IDEV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust WCM International Equity ETF (WCMI) and iShares Core MSCI International Developed Markets ETF (IDEV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WCMI achieves a 15.33% return, which is significantly higher than IDEV's 9.55% return.

WCMI

• 1D: 1.14%
• 1M: 2.39%
• YTD: 15.33%
• 6M: 14.86%
• 1Y: 23.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IDEV

• 1D: 0.32%
• 1M: -0.06%
• YTD: 9.55%
• 6M: 8.99%
• 1Y: 21.04%
• 3Y*: 17.04%
• 5Y*: 9.02%
• 10Y*: —

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

WCMI vs. IDEV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WCMI First Trust WCM International Equity ETF	15.33%	30.32%	-5.10%
IDEV iShares Core MSCI International Developed Markets ETF	9.55%	32.56%	-6.60%

Correlation

The correlation between WCMI and IDEV is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 7, 2024	0.84

The correlation between WCMI and IDEV has been stable across timeframes, ranging from 0.84 to 0.85 - a consistent structural relationship.

Return for Risk

WCMI vs. IDEV — Risk / Return Rank

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

WCMI

WCMI Risk / Return Rank: 42
WCMI Sharpe Ratio Rank: 39
WCMI Sortino Ratio Rank: 39
WCMI Omega Ratio Rank: 37
WCMI Calmar Ratio Rank: 44
WCMI Martin Ratio Rank: 49

IDEV

IDEV Risk / Return Rank: 46
IDEV Sharpe Ratio Rank: 46
IDEV Sortino Ratio Rank: 45
IDEV Omega Ratio Rank: 45
IDEV Calmar Ratio Rank: 43
IDEV Martin Ratio Rank: 50

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.

WCMI vs. IDEV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust WCM International Equity ETF (WCMI) and iShares Core MSCI International Developed Markets ETF (IDEV). 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	IDEV	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.41	-0.17
Sortino ratio: Return per unit of downside risk	1.82	2.02	-0.20
Omega ratio: Gain probability vs. loss probability	1.22	1.26	-0.03
Calmar ratio: Return relative to maximum drawdown	1.91	1.89	+0.02
Martin ratio: Return relative to average drawdown	7.08	7.35	-0.28

WCMI vs. IDEV - Sharpe Ratio Comparison

The current WCMI Sharpe Ratio is 1.24, which is comparable to the IDEV Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of WCMI and IDEV, 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

WCMI vs. IDEV - Drawdown Comparison

The maximum WCMI drawdown since its inception was -12.79%, smaller than the maximum IDEV drawdown of -34.77%. Use the drawdown chart below to compare losses from any high point for WCMI and IDEV.

Drawdown Indicators

	WCMI	IDEV	Difference
Max Drawdown Largest peak-to-trough decline	-12.79%	-34.77%	+21.98%
Max Drawdown (1Y) Largest decline over 1 year	-12.49%	-11.20%	-1.29%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.41%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.15%	—
Current Drawdown Current decline from peak	-1.47%	-0.89%	-0.58%
Average Drawdown Average peak-to-trough decline	-2.25%	-6.52%	+4.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	2.87%	+0.49%

Volatility

WCMI vs. IDEV - Volatility Comparison

First Trust WCM International Equity ETF (WCMI) has a higher volatility of 7.62% compared to iShares Core MSCI International Developed Markets ETF (IDEV) at 5.09%. This indicates that WCMI's price experiences larger fluctuations and is considered to be riskier than IDEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCMI	IDEV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.62%	5.09%	+2.53%
Volatility (6M) Calculated over the trailing 6-month period	16.52%	12.85%	+3.67%
Volatility (1Y) Calculated over the trailing 1-year period	19.24%	15.00%	+4.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.48%	16.35%	+2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.48%	17.27%	+1.21%

WCMI vs. IDEV - Expense Ratio Comparison

WCMI has a 0.85% expense ratio, which is higher than IDEV's 0.05% expense ratio.

Dividends

WCMI vs. IDEV - Dividend Comparison

WCMI's dividend yield for the trailing twelve months is around 0.53%, less than IDEV's 3.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IDEV iShares Core MSCI International Developed Markets ETF	3.23%	3.40%	3.30%	3.07%	2.69%	3.05%	2.00%	3.18%	3.16%	1.54%
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%

Frequently Asked Questions

Can I hold both WCMI and IDEV in my portfolio?

WCMI and IDEV have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WCMI or IDEV?

WCMI has higher volatility (7.62%) compared to IDEV (5.09%). In terms of maximum drawdown, WCMI dropped -12.79% vs IDEV's -34.77%.

Which ETF is better, WCMI or IDEV?

On 1-year performance, WCMI leads with 23.73% vs 21.04% for IDEV. On fees, IDEV is cheaper at 0.05% per year. On volatility, IDEV has been the lower-risk option at 5.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WCMI or IDEV?

Over the 1-year period, WCMI has performed better with a 23.73% return vs 21.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WCMI or IDEV?

IDEV is cheaper with a 0.05% expense ratio, compared with 0.85% for WCMI.

Which ETF pays a higher dividend yield, WCMI or IDEV?

IDEV has the higher dividend yield at 3.23%, compared with 0.53% for WCMI.

What is the main difference between WCMI and IDEV?

They also come from different issuers: First Trust and iShares. Their fees differ too: 0.85% for WCMI and 0.05% for IDEV.

Which has better risk-adjusted returns?

IDEV currently has the higher Sharpe Ratio (1.41 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.