WCMSX vs. OAKEX

Last updated Jun 4, 2026

WCMSX (WCM International Small Cap Growth Fund) and OAKEX (Oakmark International Small Cap Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, WCMSX returned 12.70%/yr vs 7.60%/yr for OAKEX. A 0.74 correlation means they provide meaningful diversification when combined. WCMSX charges 1.25%/yr vs 1.34%/yr for OAKEX.

Performance

WCMSX vs. OAKEX - Performance Comparison

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

Returns By Period

In the year-to-date period, WCMSX achieves a 16.27% return, which is significantly higher than OAKEX's 0.55% return. Over the past 10 years, WCMSX has outperformed OAKEX with an annualized return of 12.70%, while OAKEX has yielded a comparatively lower 7.60% annualized return.

WCMSX

• 1D: 0.07%
• 1M: 3.51%
• YTD: 16.27%
• 6M: 16.88%
• 1Y: 18.09%
• 3Y*: 16.78%
• 5Y*: 1.99%
• 10Y*: 12.70%

OAKEX

• 1D: 0.32%
• 1M: 4.06%
• YTD: 0.55%
• 6M: 4.46%
• 1Y: 7.80%
• 3Y*: 11.20%
• 5Y*: 4.30%
• 10Y*: 7.60%

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

WCMSX vs. OAKEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WCMSX WCM International Small Cap Growth Fund	16.27%	18.14%	4.33%	22.26%	-42.12%	16.65%	55.36%	45.02%	-8.94%	42.35%
OAKEX Oakmark International Small Cap Fund	0.55%	29.51%	-3.00%	19.59%	-14.50%	17.90%	5.00%	31.91%	-23.71%	26.03%

Correlation

The correlation between WCMSX and OAKEX 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 (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.74

The correlation between WCMSX and OAKEX shifts across timeframes, from 0.65 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

WCMSX vs. OAKEX — Risk / Return Rank

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

WCMSX

WCMSX Risk / Return Rank: 18
WCMSX Sharpe Ratio Rank: 15
WCMSX Sortino Ratio Rank: 15
WCMSX Omega Ratio Rank: 15
WCMSX Calmar Ratio Rank: 26
WCMSX Martin Ratio Rank: 18

OAKEX

OAKEX Risk / Return Rank: 5
OAKEX Sharpe Ratio Rank: 6
OAKEX Sortino Ratio Rank: 6
OAKEX Omega Ratio Rank: 6
OAKEX Calmar Ratio Rank: 5
OAKEX Martin Ratio Rank: 5

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.

WCMSX vs. OAKEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WCM International Small Cap Growth Fund (WCMSX) and Oakmark International Small Cap Fund (OAKEX). 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.

	WCMSX	OAKEX	Difference
Sharpe ratio: Return per unit of total volatility	1.08	0.47	+0.61
Sortino ratio: Return per unit of downside risk	1.58	0.77	+0.81
Omega ratio: Gain probability vs. loss probability	1.20	1.09	+0.11
Calmar ratio: Return relative to maximum drawdown	1.91	0.41	+1.50
Martin ratio: Return relative to average drawdown	4.93	1.22	+3.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WCMSX vs. OAKEX - Sharpe Ratio Comparison

The current WCMSX Sharpe Ratio is 1.08, which is higher than the OAKEX Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of WCMSX and OAKEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WCMSX	OAKEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.08	0.47	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.24	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.41	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.43	+0.21

Drawdowns

WCMSX vs. OAKEX - Drawdown Comparison

The maximum WCMSX drawdown since its inception was -51.60%, smaller than the maximum OAKEX drawdown of -70.12%. Use the drawdown chart below to compare losses from any high point for WCMSX and OAKEX.

Drawdown Indicators

	WCMSX	OAKEX	Difference
Max Drawdown Largest peak-to-trough decline	-51.60%	-70.12%	+18.52%
Max Drawdown (1Y) Largest decline over 1 year	-9.81%	-17.18%	+7.37%
Max Drawdown (3Y) Largest decline over 3 years	-19.37%	-17.18%	-2.19%
Max Drawdown (5Y) Largest decline over 5 years	-51.60%	-38.40%	-13.20%
Max Drawdown (10Y) Largest decline over 10 years	-51.60%	-49.61%	-1.99%
Current Drawdown Current decline from peak	-5.95%	-4.63%	-1.32%
Average Drawdown Average peak-to-trough decline	-15.78%	-13.49%	-2.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.78%	5.77%	-1.99%

Volatility

WCMSX vs. OAKEX - Volatility Comparison

WCM International Small Cap Growth Fund (WCMSX) has a higher volatility of 6.56% compared to Oakmark International Small Cap Fund (OAKEX) at 3.46%. This indicates that WCMSX's price experiences larger fluctuations and is considered to be riskier than OAKEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCMSX	OAKEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.56%	3.46%	+3.10%
Volatility (6M) Calculated over the trailing 6-month period	14.56%	11.30%	+3.26%
Volatility (1Y) Calculated over the trailing 1-year period	17.31%	14.83%	+2.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.87%	17.69%	+3.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.07%	18.65%	+1.42%

WCMSX vs. OAKEX - Expense Ratio Comparison

WCMSX has a 1.25% expense ratio, which is lower than OAKEX's 1.34% expense ratio.

Dividends

WCMSX vs. OAKEX - Dividend Comparison

WCMSX's dividend yield for the trailing twelve months is around 0.70%, less than OAKEX's 5.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OAKEX Oakmark International Small Cap Fund	5.22%	5.24%	6.38%	1.83%	1.89%	0.61%	1.87%	0.21%	8.93%	3.64%	3.09%	5.06%
WCMSX WCM International Small Cap Growth Fund	0.70%	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 WCMSX and OAKEX in my portfolio?

WCMSX and OAKEX 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.

Which is riskier, WCMSX or OAKEX?

WCMSX has higher volatility (6.56%) compared to OAKEX (3.46%). In terms of maximum drawdown, WCMSX dropped -51.60% vs OAKEX's -70.12%.

Which has better risk-adjusted returns?

WCMSX currently has the higher Sharpe Ratio (1.08 vs 0.47), 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.