FEM Alternatives & Similar ETFs

First Trust Emerging Markets AlphaDEX Fund (FEM) belongs to the Emerging Markets Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with FEM. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to FEM

FEM charges 0.80% annually. There are 72 ETFs in the Emerging Markets Equities category with lower expense ratios, going as low as 0.07%.

Symbol	Name	Expense Ratio	AUM	Inception
SPEM	SPDR Portfolio Emerging Markets ETF	0.07%	17.31B	Mar 2007	FEM vs SPEM
VEXC	Vanguard Emerging Markets Ex-China ETF	0.07%	235.70M	Sep 2025	FEM vs VEXC
VWO	Vanguard FTSE Emerging Markets ETF	0.08%	162.80B	Mar 2005	FEM vs VWO
BKEM	BNY Mellon Emerging Markets Equity ETF	0.11%	86.15M	Apr 2020	FEM vs BKEM
SCHE	Schwab Emerging Markets Equity ETF	0.11%	12.63B	Jan 2010	FEM vs SCHE

Best Risk-Adjusted Alternatives to FEM

FEM has a PortfoliosLab risk / return rank of 65. There are 18 ETFs in the Emerging Markets Equities category with higher risk-adjusted ranks, going as high as 88.

Symbol	Name	Risk / Return Rank	AUM	Inception
GEME	Pacific North of South Global Emerging Markets Equ...	88	366.05M	Jan 2025	FEM vs GEME
PIE	Invesco DWA Emerging Markets Momentum ETF	88	262.88M	Dec 2007	FEM vs PIE
EVLU	iShares MSCI Emerging Markets Value Factor ETF	87	—	Sep 2024	FEM vs EVLU
DBEM	Xtrackers MSCI Emerging Markets Hedged Equity ETF	82	102.15M	Jun 2011	FEM vs DBEM
EMXC	iShares MSCI Emerging Markets ex China ETF	79	24.99B	Jul 2017	FEM vs EMXC

Top Performing FEM Alternatives (YTD)

FEM is at 15.78% YTD. There are 35 ETFs in the Emerging Markets Equities category with higher YTD returns, going as high as 36.43%.

Symbol	Name	YTD Return	AUM	Inception
PIE	Invesco DWA Emerging Markets Momentum ETF	36.43%	262.88M	Dec 2007	FEM vs PIE
EMXC	iShares MSCI Emerging Markets ex China ETF	30.46%	24.99B	Jul 2017	FEM vs EMXC
GEME	Pacific North of South Global Emerging Markets Equ...	28.05%	366.05M	Jan 2025	FEM vs GEME
XCEM	Columbia EM Core ex-China ETF	27.89%	1.97B	Sep 2015	FEM vs XCEM
EVLU	iShares MSCI Emerging Markets Value Factor ETF	25.92%	—	Sep 2024	FEM vs EVLU

Lowest Volatility Alternatives to FEM

FEM has 19.48% 1-year volatility. There are 34 ETFs in the Emerging Markets Equities category with lower 1-year volatility, going as low as 9.57%.

Symbol	Name	Volatility 1Y	AUM	Inception
TJUN	FT Vest Emerging Markets Buffer ETF - June	9.57%	—	Jun 2025	FEM vs TJUN
TDEC	FT Vest Emerging Markets Buffer ETF - December	10.79%	10.25M	Dec 2024	FEM vs TDEC
EMDV	ProShares MSCI Emerging Markets Dividend Growers E...	11.50%	7.11M	Jan 2016	FEM vs EMDV
RNEM	First Trust Emerging Markets Equity Select ETF	12.51%	16.78M	Jun 2017	FEM vs RNEM
EDIV	SPDR S&P Emerging Markets Dividend ETF	12.79%	1.22B	Feb 2011	FEM vs EDIV

Lowest Drawdown Alternatives to FEM

FEM has a 1-year max drawdown of -9.31%. There are 10 ETFs in the Emerging Markets Equities category with shallower 1-year drawdowns, going as shallow as -6.72%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
TJUN	FT Vest Emerging Markets Buffer ETF - June	-6.72%	—	Jun 2025	FEM vs TJUN
EMDV	ProShares MSCI Emerging Markets Dividend Growers E...	-7.24%	7.11M	Jan 2016	FEM vs EMDV
DEM	WisdomTree Emerging Markets Equity Income Fund	-7.89%	3.91B	Jul 2007	FEM vs DEM
EWX	SPDR S&P Emerging Markets Small Cap ETF	-7.98%	707.60M	May 2008	FEM vs EWX
TDEC	FT Vest Emerging Markets Buffer ETF - December	-8.16%	10.25M	Dec 2024	FEM vs TDEC

Other ETFs from First Trust

The 10 most viewed First Trust ETFs shown here include CIBR, GRID, AIRR and span 14 categories. AUM among these funds goes as high as $14B.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
CIBR	First Trust NASDAQ Cybersecurity ETF	Cybersecurity, Technology Equities	34	28.87%	14.26B	Jul 2015	FEM vs CIBR
GRID	First Trust NASDAQ Clean Edge Smart Grid Infrastru...	Alternative Energy Equities	58	19.10%	11.74B	Nov 2009	FEM vs GRID
AIRR	First Trust RBA American Industrial Renaissance ET...	Building & Construction	66	23.60%	10.80B	Mar 2014	FEM vs AIRR
NFTY	First Trust India NIFTY 50 Equal Weight ETF	India Equities, Equal Weight, Asia Pacific Equities	4	-7.65%	132.86M	Feb 2012	FEM vs NFTY
FDL	First Trust Morningstar Dividend Leaders Index Fun...	Large Cap Value Equities, Dividend	76	15.23%	7.48B	Mar 2006	FEM vs FDL
IGLD	FT Vest Gold Strategy Target Income ETF	Gold, Derivative Income, Precious Metals	18	-7.95%	510.89M	Mar 2021	FEM vs IGLD
FTXL	First Trust Nasdaq Semiconductor ETF	Semiconductors, Technology Equities	94	86.56%	2.46B	Sep 2016	FEM vs FTXL
TDIV	First Trust NASDAQ Technology Dividend Index Fund	Technology Equities, Dividend	44	17.47%	4.34B	Aug 2012	FEM vs TDIV
QCLN	First Trust NASDAQ Clean Edge Green Energy Index F...	Alternative Energy Equities	54	20.15%	718.18M	Feb 2007	FEM vs QCLN
KNG	FT Vest S&P 500 Dividend Aristocrats Target Income...	Dividend, S&P 500	34	8.48%	3.40B	Mar 2018	FEM vs KNG

Often Compared With FEM

Investors most often compare FEM with FPADX, RFEM, FDEM. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
FPADX	Fidelity Emerging Markets Index Fund	Emerging Markets Diversified	75	23.03%	—	Sep 2011	FEM vs FPADX
RFEM	First Trust RiverFront Dynamic Emerging Markets ET...	Emerging Markets Equities	71	18.41%	78.79M	Jun 2016	FEM vs RFEM
FDEM	Fidelity Emerging Markets Multifactor ETF	Emerging Markets Equities	50	14.56%	587.02M	Feb 2019	FEM vs FDEM
AVEM	Avantis Emerging Markets Equity ETF	Emerging Markets Equities	60	18.91%	25.69B	Sep 2019	FEM vs AVEM
IQQE.DE	iShares MSCI EM UCITS ETF (Dist)	Emerging Markets Equities	80	22.81%	—	Nov 2005	FEM vs IQQE.DE
VXUS	Vanguard Total International Stock ETF	Global Equities	56	11.67%	652.30B	Jan 2011	FEM vs VXUS
SPYG	State Street SPDR Portfolio S&P 500 Growth ETF	S&P 500, Large Cap Growth Equities	48	10.97%	52.75B	Sep 2000	FEM vs SPYG
SCHD	Schwab U.S. Dividend Equity ETF	Dividend	86	20.66%	98.55B	Oct 2011	FEM vs SCHD
EMCS	Xtrackers MSCI Emerging Markets Climate Selection ...	Emerging Markets Equities, ESG	69	24.75%	1.02B	Dec 2018	FEM vs EMCS
VNAM	Global X MSCI Vietnam ETF	Emerging Markets Equities	34	-3.69%	36.75M	Dec 2021	FEM vs VNAM
EMOP	AB Emerging Markets Opportunities ETF	Emerging Markets Equities	71	22.87%	2.10B	Jun 2025	FEM vs EMOP
DGRE	WisdomTree Emerging Markets Quality Dividend Growt...	Emerging Markets Equities, Dividend	71	23.46%	145.45M	Aug 2013	FEM vs DGRE
EQLT	iShares MSCI Emerging Markets Quality Factor ETF	Emerging Markets Equities	78	23.07%	12.17M	Sep 2024	FEM vs EQLT
AGEM	abrdn Emerging Markets Dividend Active ETF	Emerging Markets Equities	74	23.23%	356.48M	Feb 2025	FEM vs AGEM
PXH	Invesco FTSE RAFI Emerging Markets ETF	Emerging Markets Equities	58	10.78%	1.90B	Sep 2007	FEM vs PXH
JEMA	JPMorgan ActiveBuilders Emerging Markets Equity ET...	Emerging Markets Equities	75	22.82%	1.69B	Mar 2021	FEM vs JEMA
EMXF	iShares ESG Advanced MSCI EM ETF	Emerging Markets Equities	63	20.25%	164.92M	Oct 2020	FEM vs EMXF
EMGF	iShares Edge MSCI Multifactor Emerging Markets ETF	Emerging Markets Equities	60	20.40%	1.89B	Dec 2015	FEM vs EMGF
DVYE	iShares Emerging Markets Dividend ETF	Emerging Markets Equities, Dividend	47	7.73%	1.20B	Feb 2012	FEM vs DVYE
EMCR	Xtrackers Emerging Markets Carbon Reduction and Cl...	Emerging Markets Equities	57	15.90%	58.56M	Dec 2018	FEM vs EMCR

Compare FEM with Any Fund or Stock

Compare FEM with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Diversifiers

Pair FEM with funds that move differently

First Trust Emerging Markets AlphaDEX Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FEM.

Explore FEM Diversifiers

First Trust Emerging Markets AlphaDEX Fund (FEM) Alternatives