Fund Evaluator:
WCM China Quality Growth Investor (WCQGX)
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Best Performing in Greater China Region Over the Last Year
| 72.4% | Fidelity Advisor China Region Z (FIQFX) |
| 72.1% | Fidelity China Region (FHKCX) |
| 61.6% | Oberweis China Opportunities (OBCHX) |
| 26.7% | WCM China Quality Growth Investor (WCQGX) |
| 25.5% | AMG Veritas China N (MMCFX) |
Fund Details
WCM China Quality Growth Investor Overview
WCM China Quality Growth Investor (WCQGX) is an actively managed International Equity Greater China Region fund. WCM Investment Management launched the fund in 2020.
The investment seeks long-term capital appreciation. Under normal market conditions, the fund invests at least 80% of its net assets (including amounts borrowed for investment purposes) in equity securities of Chinese companies. The advisor considers a company to be a Chinese company if it has been organized under the laws of, has its principal offices in, or has its securities principally traded in, China, or if the company derives at least 50% of its revenues or net profits from, or has at least 50% of its assets or production capacities in, China. It is non-diversified.
About WCM China Quality Growth Investor (WCQGX)
There are 2 members of the management team with an average tenure of 3.94 years: Michael Tian (2020), Dave Heng (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI China All Shares NR USD index with a weighting of 100%. WCM China Quality Growth Investor has 27 securities in its portfolio. The top 10 holdings constitute 67.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
WCM China Quality Growth Investor is part of the Equity global asset class and is within the International Equity fund group. WCM China Quality Growth Investor has 92.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 7.6%. There is 92.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). WCM China Quality Growth Investor has 1.2% of the portfolio in cash.
Assets Under Management
The fund has $20 million in total assets, which is below the $88 million average for the Greater China Region category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
WCQGX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The WCM China Quality Growth Investor expense ratio is high compared to funds in the Greater China Region category. WCM China Quality Growth Investor has an expense ratio of 1.52%, which is 20% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. WCM China Quality Growth Investor has a portfolio turnover rate of 92%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 73% for the Greater China Region category.
Recently, in the month of June 2026, WCM China Quality Growth Investor returned 11.8%, which earned it a grade of A, as the Greater China Region category had an average return of 1.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
WCM China Quality Growth Investor has a trailing yield of 5.61%, which is above the 1.81% category average. The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
WCM China Quality Growth Investor Grades
Year to date, the fund has returned 18.8%, 5.4 percentage points better than the category, which translates into a grade of B. The fund has returned 26.7% over the past year (grade of C), 7.8% over the past three years (grade of F) and -6.6% per year over the past five years (grade of D).
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WCQGX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| WCQGX Return (NAV) | 11.8% | 23.2% | 26.7% | 7.8% | -6.6% | na |
| WCQGX Grade | A | B | C | F | D | na |
| +/- Category | 10.4% | 9.2% | -6.5% | -8.1% | -4.2% | na |
| Greater China Region Avg | 1.4% | 14.0% | 33.2% | 15.8% | -2.4% | 8.4% |
| WCQGX Tax Cost Ratio | na | na | 2.5% | 1.2% | 1.3% | na |
WCQGX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WCQGX Return (NAV) | 18.8% | 21.0% | -3.1% | -18.5% | -26.8% | 3.9% | na | na | na | na | na |
| WCQGX Grade | B | F | F | D | C | A | na | na | na | na | na |
| +/- Category | 5.4% | -12.4% | -14.4% | -4.4% | 1.0% | 13.2% | na | na | na | na | na |
| Greater China Region Avg | 13.4% | 33.3% | 11.3% | -14.1% | -27.7% | -9.3% | 44.5% | 32.1% | -17.3% | 51.2% | -2.3% |
| Risk Measures | |
| Standard Deviation: | 22.3% |
| Total Risk Index: | 1.83 - High |
| Category Risk Index: | 1.03 - Above Average |
| Category Risk Grade: | D (67% Rank) |
| Beta: | 0.66 |
| R-Squared: | 17% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 5.6% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $1 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 92% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 6.3 years | |||
| Average Tenure: 3.9 years | |||
| Managers (Year): Tian Michael (2020), Heng Dave (2024) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 27 |
| % in Top 10 Holdings: | 67.1% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 92.7% |
Portfolio Allocation |
|
| Domestic Stock: | 7.6% |
| Foreign Stock: | 92.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -1.5% |
| Cash: | 1.2% |
Purchase Information
| Fund Family: | WCM Investment Management |
| Phone Number: | 888-988-9801 |
| Website: | http://www.lsthetafund.com/ |
| Status: | Open |
| Inception Date: | March 31, 2020 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.52% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.27% |
| Share Class: | WCM China Quality Growth Institutional |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
