WLCTX vs. APHIX

Last updated Jun 24, 2026

WLCTX (Wilshire International Equity Fund) and APHIX (Artisan International Fund Institutional Class) are both Foreign Large Cap Equities funds. Over the past 10 years, WLCTX returned 11.23%/yr vs 10.98%/yr for APHIX. Their correlation of 0.86 suggests significant overlap in exposure. WLCTX charges 1.50%/yr vs 0.96%/yr for APHIX.

Performance

WLCTX vs. APHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wilshire International Equity Fund (WLCTX) and Artisan International Fund Institutional Class (APHIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with WLCTX having a 15.49% return and APHIX slightly higher at 15.87%. Both investments have delivered pretty close results over the past 10 years, with WLCTX having a 11.23% annualized return and APHIX not far behind at 10.98%.

WLCTX

• 1D: 0.22%
• 1M: 2.82%
• YTD: 15.49%
• 6M: 15.36%
• 1Y: 31.47%
• 3Y*: 20.67%
• 5Y*: 9.31%
• 10Y*: 11.23%

APHIX

• 1D: 0.93%
• 1M: 0.61%
• YTD: 15.87%
• 6M: 15.95%
• 1Y: 25.97%
• 3Y*: 23.20%
• 5Y*: 10.62%
• 10Y*: 10.98%

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

WLCTX vs. APHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WLCTX Wilshire International Equity Fund	15.49%	33.77%	5.89%	17.15%	-18.87%	12.29%	16.52%	23.53%	-12.73%	25.54%
APHIX Artisan International Fund Institutional Class	15.87%	36.49%	10.89%	14.52%	-19.35%	9.10%	7.84%	29.43%	-10.81%	31.25%

Correlation

The correlation between WLCTX and APHIX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Nov 20, 2007	0.86

The correlation between WLCTX and APHIX has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.

Return for Risk

WLCTX vs. APHIX — Risk / Return Rank

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

WLCTX

WLCTX Risk / Return Rank: 67
WLCTX Sharpe Ratio Rank: 75
WLCTX Sortino Ratio Rank: 71
WLCTX Omega Ratio Rank: 73
WLCTX Calmar Ratio Rank: 58
WLCTX Martin Ratio Rank: 56

APHIX

APHIX Risk / Return Rank: 46
APHIX Sharpe Ratio Rank: 43
APHIX Sortino Ratio Rank: 44
APHIX Omega Ratio Rank: 43
APHIX Calmar Ratio Rank: 57
APHIX Martin Ratio Rank: 45

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.

WLCTX vs. APHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wilshire International Equity Fund (WLCTX) and Artisan International Fund Institutional Class (APHIX). 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.

	WLCTX	APHIX	Difference
Sharpe ratio: Return per unit of total volatility	2.33	1.79	+0.54
Sortino ratio: Return per unit of downside risk	3.20	2.58	+0.62
Omega ratio: Gain probability vs. loss probability	1.44	1.32	+0.11
Calmar ratio: Return relative to maximum drawdown	2.79	2.76	+0.03
Martin ratio: Return relative to average drawdown	10.59	9.04	+1.54

WLCTX vs. APHIX - Sharpe Ratio Comparison

The current WLCTX Sharpe Ratio is 2.33, which is higher than the APHIX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of WLCTX and APHIX, 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

WLCTX vs. APHIX - Drawdown Comparison

The maximum WLCTX drawdown since its inception was -52.88%, smaller than the maximum APHIX drawdown of -68.47%. Use the drawdown chart below to compare losses from any high point for WLCTX and APHIX.

Drawdown Indicators

	WLCTX	APHIX	Difference
Max Drawdown Largest peak-to-trough decline	-52.88%	-68.47%	+15.59%
Max Drawdown (1Y) Largest decline over 1 year	-11.55%	-9.77%	-1.78%
Max Drawdown (3Y) Largest decline over 3 years	-14.26%	-13.37%	-0.89%
Max Drawdown (5Y) Largest decline over 5 years	-32.89%	-33.73%	+0.84%
Max Drawdown (10Y) Largest decline over 10 years	-34.49%	-33.73%	-0.76%
Current Drawdown Current decline from peak	0.00%	-3.33%	+3.33%
Average Drawdown Average peak-to-trough decline	-11.31%	-23.04%	+11.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	2.97%	+0.06%

Volatility

WLCTX vs. APHIX - Volatility Comparison

Wilshire International Equity Fund (WLCTX) and Artisan International Fund Institutional Class (APHIX) have volatilities of 4.93% and 5.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WLCTX	APHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.93%	5.00%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	11.84%	12.64%	-0.80%
Volatility (1Y) Calculated over the trailing 1-year period	13.86%	15.13%	-1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.03%	15.97%	-0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.97%	16.31%	-0.34%

WLCTX vs. APHIX - Expense Ratio Comparison

WLCTX has a 1.50% expense ratio, which is higher than APHIX's 0.96% expense ratio.

Dividends

WLCTX vs. APHIX - Dividend Comparison

WLCTX's dividend yield for the trailing twelve months is around 10.80%, less than APHIX's 19.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APHIX Artisan International Fund Institutional Class	19.53%	22.63%	10.37%	2.10%	2.84%	23.52%	3.45%	5.44%	10.02%	0.91%	1.50%	0.73%
WLCTX Wilshire International Equity Fund	10.80%	12.47%	11.81%	3.02%	0.91%	19.22%	6.81%	1.26%	4.91%	0.07%	1.64%	0.22%

Frequently Asked Questions

Can I hold both WLCTX and APHIX in my portfolio?

WLCTX and APHIX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WLCTX or APHIX?

APHIX has higher volatility (5.00%) compared to WLCTX (4.93%). In terms of maximum drawdown, WLCTX dropped -52.88% vs APHIX's -68.47%.

Which has better risk-adjusted returns?

WLCTX currently has the higher Sharpe Ratio (2.33 vs 1.79), 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.