WXCIX vs. SFENX

Last updated Jun 25, 2026

WXCIX (William Blair Emerging Markets ex China Growth Fund Class I) and SFENX (Schwab Fundamental Emerging Markets Equity Index Fund) are both Emerging Markets Equities funds. WXCIX is actively managed, while SFENX is passively managed. Over the past 3 years, WXCIX returned 34.69%/yr vs 19.75%/yr for SFENX. A 0.56 correlation means they provide meaningful diversification when combined. WXCIX charges 0.99%/yr vs 0.39%/yr for SFENX.

Performance

WXCIX vs. SFENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in William Blair Emerging Markets ex China Growth Fund Class I (WXCIX) and Schwab Fundamental Emerging Markets Equity Index Fund (SFENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WXCIX achieves a 52.06% return, which is significantly higher than SFENX's 11.20% return.

WXCIX

• 1D: -4.74%
• 1M: 6.57%
• YTD: 52.06%
• 6M: 54.77%
• 1Y: 82.66%
• 3Y*: 34.69%
• 5Y*: —
• 10Y*: —

SFENX

• 1D: -2.32%
• 1M: -1.02%
• YTD: 11.20%
• 6M: 11.59%
• 1Y: 27.09%
• 3Y*: 19.75%
• 5Y*: 9.04%
• 10Y*: 10.87%

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

WXCIX vs. SFENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WXCIX William Blair Emerging Markets ex China Growth Fund Class I	52.06%	28.21%	13.49%	15.55%
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	11.20%	29.19%	12.31%	7.45%

Correlation

The correlation between WXCIX and SFENX is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (All Time) Calculated using the full available price history since May 17, 2023	0.56

The correlation between WXCIX and SFENX has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.

Return for Risk

WXCIX vs. SFENX — Risk / Return Rank

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

WXCIX

WXCIX Risk / Return Rank: 95
WXCIX Sharpe Ratio Rank: 98
WXCIX Sortino Ratio Rank: 91
WXCIX Omega Ratio Rank: 91
WXCIX Calmar Ratio Rank: 97
WXCIX Martin Ratio Rank: 96

SFENX

SFENX Risk / Return Rank: 62
SFENX Sharpe Ratio Rank: 62
SFENX Sortino Ratio Rank: 56
SFENX Omega Ratio Rank: 60
SFENX Calmar Ratio Rank: 73
SFENX Martin Ratio Rank: 58

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.

WXCIX vs. SFENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for William Blair Emerging Markets ex China Growth Fund Class I (WXCIX) and Schwab Fundamental Emerging Markets Equity Index Fund (SFENX). 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.

	WXCIX	SFENX	Difference
Sharpe ratio: Return per unit of total volatility	3.45	2.12	+1.33
Sortino ratio: Return per unit of downside risk	4.04	2.86	+1.18
Omega ratio: Gain probability vs. loss probability	1.60	1.39	+0.21
Calmar ratio: Return relative to maximum drawdown	6.02	3.15	+2.87
Martin ratio: Return relative to average drawdown	20.84	10.89	+9.95

WXCIX vs. SFENX - Sharpe Ratio Comparison

The current WXCIX Sharpe Ratio is 3.45, which is higher than the SFENX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of WXCIX and SFENX, 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

WXCIX vs. SFENX - Drawdown Comparison

The maximum WXCIX drawdown since its inception was -19.66%, smaller than the maximum SFENX drawdown of -47.19%. Use the drawdown chart below to compare losses from any high point for WXCIX and SFENX.

Drawdown Indicators

	WXCIX	SFENX	Difference
Max Drawdown Largest peak-to-trough decline	-19.66%	-47.19%	+27.53%
Max Drawdown (1Y) Largest decline over 1 year	-14.78%	-9.45%	-5.33%
Max Drawdown (3Y) Largest decline over 3 years	-19.66%	-16.51%	-3.15%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.59%	—
Current Drawdown Current decline from peak	-4.74%	-5.19%	+0.45%
Average Drawdown Average peak-to-trough decline	-3.15%	-12.86%	+9.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.25%	2.73%	+1.52%

Volatility

WXCIX vs. SFENX - Volatility Comparison

William Blair Emerging Markets ex China Growth Fund Class I (WXCIX) has a higher volatility of 13.70% compared to Schwab Fundamental Emerging Markets Equity Index Fund (SFENX) at 5.83%. This indicates that WXCIX's price experiences larger fluctuations and is considered to be riskier than SFENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WXCIX	SFENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.70%	5.83%	+7.87%
Volatility (6M) Calculated over the trailing 6-month period	23.12%	11.74%	+11.38%
Volatility (1Y) Calculated over the trailing 1-year period	25.76%	14.01%	+11.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.22%	15.53%	+3.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.22%	16.84%	+2.38%

WXCIX vs. SFENX - Expense Ratio Comparison

WXCIX has a 0.99% expense ratio, which is higher than SFENX's 0.39% expense ratio.

Dividends

WXCIX vs. SFENX - Dividend Comparison

WXCIX's dividend yield for the trailing twelve months is around 3.63%, more than SFENX's 3.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	3.54%	3.93%	4.67%	5.00%	5.46%	4.61%	2.95%	3.82%	2.90%	2.37%	2.16%	3.23%
WXCIX William Blair Emerging Markets ex China Growth Fund Class I	3.63%	5.52%	0.00%	0.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WXCIX and SFENX in my portfolio?

WXCIX and SFENX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WXCIX or SFENX?

WXCIX has higher volatility (13.70%) compared to SFENX (5.83%). In terms of maximum drawdown, WXCIX dropped -19.66% vs SFENX's -47.19%.

Which has better risk-adjusted returns?

WXCIX currently has the higher Sharpe Ratio (3.45 vs 2.12), 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.