What this ETF is trying to do

The First Trust WCM International Equity ETF (ticker: WCMI) is an exchange-traded fund that focuses on international companies. It provides investors with exposure to stocks from various countries outside of the United States.

What the numbers show

As of October 6, 2026, the current price of WCMI is $19.30. An estimated price from roughly one year ago was $17.18.

When looking at how this ETF has performed, it is important to understand two different types of returns:

• Price Return: This measures only the change in the share price. Over the last year, the one-year price return was 12.31%. Year-to-date (YTD), the price return is 13.43%.

• Total Return: This includes both the share price change and any distributions (cash payments) made to investors. The one-year total return was 12.97%, and the YTD total return is 13.71%.

If you had $10,000 invested in the share price alone one year ago, that amount would have grown by approximately 12.31% based on the price return.

Income and distribution explanation

This ETF provides some cash income through distributions. The distribution yield is 0.54%, which describes the cash payments relative to the ETF's price. In the last 12 months, there were two payouts. These distributions are described as "irregular" or "less frequent."

NAV erosion explanation

"NAV erosion" refers to a decline in the value of the underlying assets that make up the ETF. It is important to distinguish between a falling share price and actual NAV erosion. For WCMI, the erosion-risk score is 100, which is labeled as "No price erosion detected." The erosion severity is rated as "good," and there is no severe erosion-risk flag.

Pros

• Positive Returns: Both the price return and total return have been positive over the last year and year-to-date.

• Low Erosion Risk: The data shows no detected price erosion.

• Top Holdings: The fund holds several large international companies. Some of its Top Holdings include:

• Rolls-Royce Holdings PLC (6.84%)

• Taiwan Semiconductor Manufacturing Co Ltd (6.79%)

• Nebius Group NV SHS Class-A (5.09%)

• Babcock International Group PLC (4.13%)

• Constellation Software Inc (3.97%)

Cons

• Low Yield: The distribution yield of 0.54% is relatively low.

• Irregular Payouts: The distributions do not happen on a regular, predictable schedule.

Beginner takeaway

When studying an ETF like WCMI, remember that price return and total return are different. Price return only tells you how the share price moved, while total return shows the overall result including cash payments. Also, while this ETF provides some income, the amount is small and the timing is irregular.