Fund Evaluator:
William Blair China Growth I (WICGX)
Follow This Fund
Best Performing in Greater China Region Over the Last Year
| 53.4% | Fidelity Advisor China Region Z (FIQFX) |
| 53.2% | Fidelity China Region (FHKCX) |
| 36.9% | Oberweis China Opportunities (OBCHX) |
| 12.4% | Goldman Sachs China Equity Inv (GSAEX) |
| 9.9% | Guinness Atkinson China & Hong Kong (ICHKX) |
Fund Details
William Blair China Growth I Overview
William Blair China Growth I (WICGX) is an actively managed International Equity Greater China Region fund. William Blair launched the fund in 2021.
The investment seeks long-term capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets in securities of companies with their principal office in the People’s Republic of China (“PRC”). The PRC shall include mainland China, Hong Kong and Macau but exclude Taiwan. The fund invests primarily in a portfolio of equity securities, including common stocks and other forms of equity investments (e.g., securities convertible into common stocks), of companies of all sizes that the adviser believes have above-average growth, profitability and quality characteristics. The fund is non-diversified.
About William Blair China Growth I (WICGX)
There are 1 members of the management team with an average tenure of 4.93 years: Vivian Thurston (2021). 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%. William Blair China Growth I has 54 securities in its portfolio. The top 10 holdings constitute 45.0% 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.
William Blair China Growth I is part of the Equity global asset class and is within the International Equity fund group. William Blair China Growth I has 94.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.6%. There is 94.3% 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). William Blair China Growth I has 5.1% of the portfolio in cash.
Assets Under Management
The fund has $111 million in total assets, which is below the $82 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.
WICGX 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 William Blair China Growth I expense ratio is high compared to funds in the Greater China Region category. William Blair China Growth I has an expense ratio of 0.99%, which is 22% lower than its category average, making the fund expense ratio grade a A. 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. William Blair China Growth I has a portfolio turnover rate of 73%, 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 July 2026, William Blair China Growth I returned -13.5%, which earned it a grade of F, as the Greater China Region category had an average return of -5.7%. 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.
William Blair China Growth I has a trailing yield of 0.84%, which is below the 1.94% 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.
William Blair China Growth I Grades
Year to date, the fund has returned 0.5%, 5.1 percentage points worse than the category, which translates into a grade of B. The fund has returned 11.0% over the past year (grade of D) and 4.7% over the past three years (grade of D).
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WICGX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| WICGX Return (NAV) | -13.5% | -0.9% | 11.0% | 4.7% | na | na |
| WICGX Grade | F | A | D | D | na | na |
| +/- Category | -7.8% | 2.5% | -8.7% | -5.7% | na | na |
| Greater China Region Avg | -5.7% | -3.4% | 19.7% | 10.4% | -2.0% | 7.3% |
| WICGX Tax Cost Ratio | na | na | 0.3% | 0.4% | na | na |
WICGX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WICGX Return (NAV) | 0.5% | 24.3% | 10.3% | -24.3% | -32.4% | na | na | na | na | na | na |
| WICGX Grade | B | F | C | F | F | na | na | na | na | na | na |
| +/- Category | -5.1% | -9.1% | -1.0% | -10.2% | -4.7% | na | na | na | na | na | na |
| Greater China Region Avg | 5.6% | 33.3% | 11.3% | -14.1% | -27.7% | -9.3% | 44.5% | 32.1% | -17.3% | 51.2% | -2.3% |
| Risk Measures | |
| Standard Deviation: | 23.2% |
| Total Risk Index: | 1.89 - High |
| Category Risk Index: | 1.05 - Above Average |
| Category Risk Grade: | D (74% Rank) |
| Beta: | 0.71 |
| R-Squared: | 18% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.8% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $2 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 73% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 4.9 years | |||
| Average Tenure: 4.9 years | |||
| Managers (Year): Thurston Vivian (2021) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 54 |
| % in Top 10 Holdings: | 45.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 94.3% |
Portfolio Allocation |
|
| Domestic Stock: | 0.6% |
| Foreign Stock: | 94.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 5.1% |
Purchase Information
| Fund Family: | William Blair |
| Phone Number: | 800-635-2886 |
| Website: | www.williamblairfunds.com |
| Status: | Open |
| Inception Date: | August 27, 2021 |
| Min. Initial Purchase: | $500,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.99% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.27% |
| Share Class: | William Blair China Growth R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
