Fund Evaluator:
William Blair Emerg Mkts ex China Gr I (WXCIX)
Follow This Fund
Best Performing in Diversified Emerging Mkts Over the Last Year
| 55.1% | Invesco Emerging Markets ex-China Y (GTDYX) |
| 51.1% | WCM Focused Emerging Mkts Ex Chn Inv (WCFEX) |
| 47.2% | Matthews Emerging Markets Sust Fut Inv (MASGX) |
| 46.5% | Lazard Emerging Markets Equity Instl (LZEMX) |
| 46.5% | LSV Emerging Markets Equity Inv (LVAZX) |
Fund Details
William Blair Emerg Mkts ex China Gr I Overview
William Blair Emerg Mkts ex China Gr I (WXCIX) is an actively managed International Equity Diversified Emerging Mkts fund. William Blair launched the fund in 2022.
The investment seeks long-term capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in emerging markets securities, excluding companies with their principal office in the People’s Republic of China (“PRC”). The Adviser seeks investment opportunities in companies at different stages of development ranging from large, well-established companies to smaller companies at earlier stages of development.
About William Blair Emerg Mkts ex China Gr I (WXCIX)
There are 2 members of the management team with an average tenure of 4.01 years: Todd McClone (2022), Vivian Thurston (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI EM emrg Mrkt IMI ex CHINA NR USD index with a weighting of 100%. William Blair Emerg Mkts ex China Gr I has 114 securities in its portfolio. The top 10 holdings constitute 45.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
William Blair Emerg Mkts ex China Gr I is part of the Equity global asset class and is within the International Equity fund group. William Blair Emerg Mkts ex China Gr I has 94.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.3%. There is 94.8% 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 Emerg Mkts ex China Gr I has 3.9% of the portfolio in cash.
Assets Under Management
The fund has $28 million in total assets, which is below the $967 million average for the Diversified Emerging Mkts 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.
WXCIX 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 Emerg Mkts ex China Gr I expense ratio is high compared to funds in the Diversified Emerging Mkts category. William Blair Emerg Mkts ex China Gr I has an expense ratio of 0.99%, which is 14% lower than its category average, making the fund expense ratio grade a B. 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 Emerg Mkts ex China Gr I has a portfolio turnover rate of 84%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.
Recently, in the month of July 2026, William Blair Emerg Mkts ex China Gr I returned -12.0%, which earned it a grade of F, as the Diversified Emerging Mkts category had an average return of -4.9%. 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 Emerg Mkts ex China Gr I has a trailing yield of 0.36%, which is below the 1.72% category average. The fund normally distributes its income annually and its capital gains 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 Emerg Mkts ex China Gr I Grades
Year to date, the fund has returned 35.0%, 15.9 percentage points better than the category, which translates into a grade of A. The fund has returned 58.4% over the past year (grade of A) and 28.7% over the past three years (grade of A).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about William Blair Emerg Mkts ex China Gr I, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
WXCIX 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 |
|
| WXCIX Return (NAV) | -12.0% | 2.5% | 58.4% | 28.7% | na | na |
| WXCIX Grade | F | C | A | A | na | na |
| +/- Category | -7.0% | 0.1% | 22.5% | 10.8% | na | na |
| Diversified Emerging Mkts Avg | -4.9% | 2.4% | 35.9% | 17.9% | 6.5% | 8.7% |
| WXCIX Tax Cost Ratio | na | na | 1.4% | 0.6% | na | na |
WXCIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WXCIX Return (NAV) | 35.0% | 28.2% | 13.5% | 24.8% | na | na | na | na | na | na | na |
| WXCIX Grade | A | D | A | A | na | na | na | na | na | na | na |
| +/- Category | 15.9% | -3.2% | 7.3% | 12.6% | na | na | na | na | na | na | na |
| Diversified Emerging Mkts Avg | 19.1% | 31.4% | 6.2% | 12.1% | -22.6% | -0.2% | 21.6% | 21.9% | -16.4% | 36.6% | 8.6% |
| Risk Measures | |
| Standard Deviation: | 23.6% |
| Total Risk Index: | 1.92 - High |
| Category Risk Index: | 1.41 - High |
| Category Risk Grade: | F (100% Rank) |
| Beta: | 1.28 |
| R-Squared: | 57% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $92 Mil |
| Fund Total Assets: | $ 28 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 84% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 4.0 years | |||
| Average Tenure: 4.0 years | |||
| Managers (Year): McClone Todd (2022), Thurston Vivian (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 114 |
| % in Top 10 Holdings: | 45.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 94.8% |
Portfolio Allocation |
|
| Domestic Stock: | 1.3% |
| Foreign Stock: | 94.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.9% |
Purchase Information
| Fund Family: | William Blair |
| Phone Number: | 800-635-2886 |
| Website: | www.williamblairfunds.com |
| Status: | Open |
| Inception Date: | July 28, 2022 |
| 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 (%): | 1.16% |
| Share Class: | William Blair Emerg Mkts ex China Gr R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
