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Trending ETFs

Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.27

$212 M

2.34%

$0.26

1.75%

Vitals

YTD Return

5.9%

1 yr return

18.6%

3 Yr Avg Return

2.3%

5 Yr Avg Return

8.4%

Net Assets

$212 M

Holdings in Top 10

13.0%

52 WEEK LOW AND HIGH

$11.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.75%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 53.00%

Redemption Fee 1.00%


Min Investment

Standard (Taxable)

$2,500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.27

$212 M

2.34%

$0.26

1.75%

WLCTX - Profile

Distributions

  • YTD Total Return 5.9%
  • 3 Yr Annualized Total Return 2.3%
  • 5 Yr Annualized Total Return 8.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.65%
DIVIDENDS
  • Dividend Yield 2.3%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    WILSHIRE INTERNATIONAL EQUITY FUND
  • Fund Family Name
    Wilshire Mutual Funds, Inc.
  • Inception Date
    Nov 16, 2007
  • Shares Outstanding
    263745
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Paul Black

Fund Description

The International Fund invests, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities. The International Fund primarily invests in equity securities of established companies that the subadvisers believe have favorable characteristics and that are listed on foreign exchanges.
The International Fund primarily invests in companies organized outside of the United States or companies that are organized in the United States, but primarily operate outside of the United States or derive a significant portion of its revenues outside of the United States. The International Fund intends to diversify its investments in operating companies among at least three different countries. The International Fund also invests in emerging market securities (securities of issuers based in countries with developing economies).
The International Fund engages in leverage by investing in MSCI EAFE Index (USD) derivatives or MSCI Emerging Market Index (USD) derivatives, the notional value of which equals approximately 20% of the Portfolio’s net assets. The Portfolio’s derivatives exposure is backed by a portfolio of fixed income securities representing approximately 20% of the Portfolio’s net assets. An MSCI EAFE Index (USD) derivative or MSCI Emerging Market Index (USD) derivative is a derivative contract, typically a swap agreement, that uses the MSCI EAFE Index (USD) or MSCI Emerging Market Index (USD) as its reference asset. The portion of the International Fund invested in derivatives seeks to track the daily performance of the MSCI EAFE Index (USD) or MSCI Emerging Market Index (USD) (the “Swaps Strategy”) and invests in such derivatives in addition to or in place of companies within the MSCI EAFE Index (USD) derivative or MSCI Emerging Market Index (USD). In addition to swaps, the International Fund may invest in other types of derivatives including options, futures, options on futures, and other similar instruments. For purposes of the International Fund’s 80% test, MSCI EAFE Index (USD) derivatives and MSCI Emerging Market Index (USD) derivatives will be counted as equity securities and will be valued at notional value rather than market value.
Fixed income securities held by the Portfolio may include bonds, debt securities, asset-backed and mortgage-backed securities and other similar instruments. The fixed income securities are typically expected to have a duration between 0 and 2 years. The International Fund may also invest in fixed-income securities of foreign governments and companies and in currency forward agreements and spot transactions to facilitate settlement of multi-currency investments. The International Fund may invest in below investment grade debt securities, commonly known as “high-yield” securities or “junk bonds.”
The International Fund may invest in companies of any market capitalization, including small-cap companies. The International Fund may invest equity securities of other investment companies, including exchange-traded funds.
The International Fund uses a multi-manager strategy with subadvisers who may employ different strategies. Wilshire typically allocates the Portfolio’s assets among the Portfolio’s subadvisers in accordance with its outlook for the economy and the financial markets. Each of WCM Investment Management LLC (“WCM”), Los Angeles Capital Management LLC (“Los Angeles Capital”), Pzena Investment Management, LLC (“Pzena”), Lazard Asset Management LLC (“Lazard”), and Voya Investment Management Co LLC (“Voya”) manage a portion of the International Fund’s portfolio and Wilshire manages the Portfolio’s Swaps Strategy.
WCM’s international equity strategy employs a bottom-up approach that seeks to identify companies with attractive fundamentals, such as long-term growth in revenue and earnings, and that show a strong probability for superior future growth.
Los Angeles Capital employs a quantitative investment process for security selection and risk management. Los Angeles Capital utilizes its proprietary Dynamic Alpha Stock Selection Model® to build equity portfolios that adapt to market conditions. The model considers a range of valuation, earnings and management characteristics to identify current drivers of return.
Pzena has a “classic” value investment philosophy; it seeks to buy very good businesses at very low prices. Pzena focuses exclusively on companies that it believes are underperforming their historically demonstrated earnings power. Pzena applies intensive fundamental research to such companies to determine whether the problems that caused the earnings shortfalls are temporary or permanent. Pzena invests in a company only when it judges that the company’s problems are temporary, the company’s management has a viable strategy to generate earnings recovery, and Pzena believes there is meaningful downside protection in case the earnings recovery does not materialize. Pzena generally sells a security when it believes there are more attractive opportunities available, or there is a change in the fundamental characteristics of the issuer.
In managing its portion of the International Fund, Lazard selects securities ranked according to four independent proprietary measures: growth, value, sentiment and quality. Growth potential is measured by looking at the consistency of earnings and sales over the past few years and then by leveraging this data, along with margins, research and development, capital expenditures, cash flow growth and other reported financial metrics to project future growth potential.
In managing its portion of the Portfolio, Voya focuses on managing a broad array of fixed income investment opportunities, including but not limited to U.S. government securities, securities of foreign governments, and supranational organizations; bank loans; notes that can invest in securities with any credit rating; mortgage-backed, asset-backed debt securities and other structured credit securities, commercial paper and debt securities of foreign issuers, including emerging market countries. In addition, Voya may also invest in its affiliated registered investment companies.
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WLCTX - Performance

Return Ranking - Trailing

Period WLCTX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.9% -1.4% 32.0% 26.54%
1 Yr 18.6% 0.7% 28.0% 27.84%
3 Yr 2.3%* -13.5% 48.7% 54.05%
5 Yr 8.4%* -33.8% 76.8% 14.97%
10 Yr 5.5%* -0.1% 16.8% 13.55%

* Annualized

Return Ranking - Calendar

Period WLCTX Return Category Return Low Category Return High Rank in Category (%)
2023 13.7% -7.3% 22.0% 44.10%
2022 -19.6% -43.6% 71.3% 70.91%
2021 -6.0% -28.5% 18.9% 90.05%
2020 8.9% -90.1% 992.1% 41.67%
2019 22.0% -2.2% 38.8% 25.62%

Total Return Ranking - Trailing

Period WLCTX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.9% -1.4% 32.0% 26.54%
1 Yr 18.6% 0.7% 28.0% 27.84%
3 Yr 2.3%* -13.5% 48.7% 54.05%
5 Yr 8.4%* -33.8% 76.8% 14.97%
10 Yr 5.5%* -0.1% 16.8% 13.55%

* Annualized

Total Return Ranking - Calendar

Period WLCTX Return Category Return Low Category Return High Rank in Category (%)
2023 17.1% 3.2% 41.4% 39.09%
2022 -18.9% -43.6% 144.8% 82.91%
2021 12.5% -22.6% 56.0% 18.99%
2020 16.6% -89.7% 1010.8% 18.08%
2019 23.5% 4.3% 38.8% 36.77%

NAV & Total Return History


WLCTX - Holdings

Concentration Analysis

WLCTX Category Low Category High WLCTX % Rank
Net Assets 212 M 1.97 M 366 B 72.71%
Number of Holdings 1194 1 10801 6.85%
Net Assets in Top 10 28.9 M 0 36.8 B 85.42%
Weighting of Top 10 13.04% 2.5% 111.6% 90.00%

Top 10 Holdings

  1. Voya VACS Series SC Fund 2.76%
  2. Novo Nordisk A/S 1.92%
  3. Canadian Pacific Kansas City Ltd 1.22%
  4. Ferrari NV 1.17%
  5. ICON PLC 1.05%
  6. MercadoLibre Inc 1.03%
  7. UBS Group AG 1.02%
  8. Atlassian Corp 1.02%
  9. BAE Systems PLC 0.94%
  10. Adyen NV 0.91%

Asset Allocation

Weighting Return Low Return High WLCTX % Rank
Stocks
84.71% 0.00% 122.60% 96.06%
Bonds
7.64% -0.68% 71.30% 3.06%
Cash
4.44% -22.43% 100.00% 11.95%
Other
2.17% -2.97% 43.01% 7.73%
Preferred Stocks
1.03% -0.01% 7.60% 20.99%
Convertible Bonds
0.15% 0.00% 4.18% 2.49%

Stock Sector Breakdown

Weighting Return Low Return High WLCTX % Rank
Financial Services
16.84% 0.00% 47.75% 65.07%
Technology
15.37% 0.00% 36.32% 15.67%
Consumer Cyclical
14.90% 0.00% 36.36% 9.55%
Industrials
13.55% 5.17% 99.49% 62.09%
Healthcare
12.69% 0.00% 21.01% 42.84%
Basic Materials
7.63% 0.00% 23.86% 60.60%
Consumer Defense
6.61% 0.00% 32.29% 87.46%
Energy
4.59% 0.00% 16.89% 56.42%
Real Estate
2.84% 0.00% 14.59% 27.91%
Communication Services
2.55% 0.00% 21.69% 93.43%
Utilities
2.44% 0.00% 13.68% 56.57%

Stock Geographic Breakdown

Weighting Return Low Return High WLCTX % Rank
Non US
71.42% 0.00% 121.07% 86.01%
US
13.30% 0.00% 103.55% 21.87%

Bond Sector Breakdown

Weighting Return Low Return High WLCTX % Rank
Securitized
47.51% 0.00% 47.51% 0.30%
Corporate
28.44% 0.00% 100.00% 4.53%
Government
8.01% 0.00% 44.25% 3.47%
Derivative
0.63% -2.97% 43.01% 5.83%
Municipal
0.01% 0.00% 0.17% 1.81%
Cash & Equivalents
0.00% 0.00% 100.00% 99.56%

Bond Geographic Breakdown

Weighting Return Low Return High WLCTX % Rank
US
7.64% -0.68% 71.30% 3.06%
Non US
0.00% 0.00% 8.34% 92.86%

WLCTX - Expenses

Operational Fees

WLCTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.75% 0.01% 18.22% 15.18%
Management Fee 1.00% 0.00% 1.65% 99.12%
12b-1 Fee 0.25% 0.00% 1.00% 61.98%
Administrative Fee N/A 0.01% 1.00% N/A

Sales Fees

WLCTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

WLCTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 1.00% 2.00% 100.00%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

WLCTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 53.00% 2.00% 247.00% 70.98%

WLCTX - Distributions

Dividend Yield Analysis

WLCTX Category Low Category High WLCTX % Rank
Dividend Yield 2.34% 0.00% 24.61% 44.70%

Dividend Distribution Analysis

WLCTX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually SemiAnnual SemiAnnual

Net Income Ratio Analysis

WLCTX Category Low Category High WLCTX % Rank
Net Income Ratio 0.65% -0.93% 6.38% 85.97%

Capital Gain Distribution Analysis

WLCTX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

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WLCTX - Fund Manager Analysis

Managers

Paul Black


Start Date

Tenure

Tenure Rank

Oct 31, 2013

8.59

8.6%

Paul joined WCM in 1989; his primary responsibility is portfolio management for our global, fundamental growth strategies. Since the start of his investment career in 1983, Paul’s experience includes positions as Portfolio Manager with Wells Fargo Private Banking Group, and at Bank of America. Paul earned his B.S. in Finance from California State University, San Diego.

Michael Trigg


Start Date

Tenure

Tenure Rank

Oct 31, 2013

8.59

8.6%

Mike joined WCM in 2006; his primary responsibilities are portfolio management and equity research for our global, fundamental growth strategies. Since he began his investment career in 2000, Mike’s experience includes positions as Equity Analyst at Morningstar, Inc. (Chicago) where he produced the Model Growth Portfolio (a live portfolio and newsletter), and as Analyst at the Motley Fool, the online investment service. He earned his B.S. (with honors) in Finance from Saint Louis University (Missouri).

Peter Hunkel


Start Date

Tenure

Tenure Rank

Oct 31, 2013

8.59

8.6%

Pete has been working with WCM since 2001; his primary responsibilities are portfolio management and equity research for our global, fundamental growth strategies. Since he began his investment career in 1998, Pete’s experience includes positions as Portfolio Analyst, Templeton Private Client Group, and as Managing Director at Centurion Alliance. He earned his B.A. (with honors) in Communications from San Jose State University (California), and his J.D. at the Monterey College of Law (California).

Daniel Allen


Start Date

Tenure

Tenure Rank

May 28, 2014

8.01

8.0%

As CEO and President, Mr. Allen is responsible for implementing the Mission, Vision and business strategies across the organization. In addition to day-to-day operations, key areas of interest include Diversity & Inclusion, ESG and technology enhancements. Mr. Allen is also a senior member of the Portfolio Management team, involved in developing global equity applications for clients along with servicing key relationships. Mr. Allen is a member of Los Angeles Capital’s Board of Managers and Investment Committee, and chairs the Management Committee. He also serves on the Board of Directors of Los Angeles Capital Global Funds plc and is Director of LACM Global, Ltd. Prior to joining Los Angeles Capital, Mr. Allen was a senior managing director and board member of Wilshire Associates. For more than twenty years, Mr. Allen held senior positions at Wilshire. Mr. Allen began in the Equity Management division and worked with several members of the Los Angeles Capital team. Mr. Allen assisted 100+ institutional money managers in applying risk models, performance attribution, and portfolio optimization techniques to their equity portfolios. Mr. Allen returned to Wilshire’s Consulting division to advise international investors and to head the firm’s international manager research. In 1998, Mr. Allen moved to Europe and spent the next decade leading Wilshire’s Private Markets group’s asset management activities in the region. In this capacity, he was responsible for sourcing and evaluating private equity opportunities while serving on the Global Investment Committee. Mr. Allen returned to Los Angeles in 2008 as a Management Committee member of the Private Markets group. Mr. Allen joined Los Angeles Capital in 2009.

Allison Fisch


Start Date

Tenure

Tenure Rank

Jun 25, 2018

3.93

3.9%

Allison Fisch, Principal and Portfolio Manager. Ms. Fisch is a co-portfolio manager for the International and Emerging Markets strategies, along with the Global Best Ideas service. Ms. Fisch became a member of the firm in 2001 and helped to launch the Emerging Markets strategies in 2008, on which she has been a co-portfolio manager since inception. She joined the International portfolio management team in 2016 and has co-managed the International Small Cap Value strategy since its inception in 2017. Since 2017, she has overseen the Global Best Idea service. Prior to joining Pzena Investment Management, Ms. Fisch was a business analyst at McKinsey & Company. She earned a B.A. summa cum laude in Psychology and a minor in Drama from Dartmouth College.

Caroline Cai


Start Date

Tenure

Tenure Rank

Jun 25, 2018

3.93

3.9%

Caroline Cai, CFA, Managing Principal, Portfolio Manager, and member of the firm’s Executive Committee. Ms. Cai is a co-portfolio manager for the Global, International, European and Emerging Markets strategies, and the Financial Opportunities service. Ms. Cai became a member of the firm in 2004. Prior to joining Pzena Investment Management, Ms. Cai was a senior analyst at AllianceBernstein LLP, and a business analyst at McKinsey & Company. She earned a B.A. summa cum laude in Math and Economics from Bryn Mawr College. Ms. Cai holds the Chartered Financial Analyst® designation.

Alex Lai


Start Date

Tenure

Tenure Rank

Jun 30, 2019

2.92

2.9%

Alex Lai is a Portfolio Manager/Analyst on Lazard's Quantitative Equity team. He began working in the investment field in 2002. Prior to joining Lazard in 2008, Alex was a Vice President and Quantitative Portfolio Manager in the Global Active Equity group at State Street Global Advisors (SSgA). Prior to that, Alex was an investment-banking analyst at Lehman Brothers Asia in Hong Kong. He has an MSc in Finance from Boston College and a BBA (Hons) in Finance and Accounting from the University of Michigan, Ann Arbor.

Taras Ivanenko


Start Date

Tenure

Tenure Rank

Jun 30, 2019

2.92

2.9%

Taras Ivanenko, CFA Director, Portfolio Manager/Analyst Lazard Asset Management LLC (Boston) Taras Ivanenko is a Portfolio Manager/Analyst on Lazard's Quantitative Equity team. He began working in the investment field in 1995. Prior to joining Lazard in 2007, Taras was a Senior Portfolio Manager in the Global Active Equity group at State Street Global Advisors (SSgA). Earlier at SSgA, he was a Principal and Senior Application Development Architect in the Equity Systems group. Previously, Taras was an analyst in Quantitative Research and Trading Systems at Oxbridge Research.

Peter Kashanek


Start Date

Tenure

Tenure Rank

Apr 30, 2020

2.08

2.1%

Peter Kashanek Director, Client Portfolio Manager Lazard Asset Management LLC (Boston) Peter Kashanek is a Client Portfolio Manager on Lazard's Quantitative Equity team. He began working in the investment field in 1994. Prior to joining Lazard in 2007, Peter was a Principal and a Portfolio Manager in the Global Active Equity group at State Street Global Advisors (SSgA). Previously, Peter was an investment analyst in the Institutional Equity Research Group at Bank of Montreal where he focused on global energy companies.

Ciprian Marin


Start Date

Tenure

Tenure Rank

Apr 30, 2020

2.08

2.1%

Ciprian Marin is a Director, Portfolio Manager/Analyst on Lazard's Equity Advantage team. He began working in the investment field in 1997 and joined Lazard in 2008. Education: MBA in Finance, International University of Japan and a BS in International Economics, Academy of Economic Studies Bucharest. Ciprian is a Certified Investment Adviser (UK). He holds FINRA (formerly NASD) Series 7 and JASDA Series 2 registrations. He has managed a portion of the Fund since August 2015.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.35 6.22 3.25