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 62 ETFs in the Emerging Markets Equities category with lower expense ratios, going as low as 0.07%.

Symbol	Name	Expense Ratio	AUM	Inception
VEXC	Vanguard Emerging Markets Ex-China ETF	0.07%	235.70M	Sep 2025	FEM vs VEXC
SPEM	SPDR Portfolio Emerging Markets ETF	0.07%	17.88B	Mar 2007	FEM vs SPEM
VWO	Vanguard FTSE Emerging Markets ETF	0.08%	162.80B	Mar 2005	FEM vs VWO
SCHE	Schwab Emerging Markets Equity ETF	0.11%	12.80B	Jan 2010	FEM vs SCHE
EMCR	Xtrackers Emerging Markets Carbon Reduction and Cl...	0.15%	58.93M	Dec 2018	FEM vs EMCR

Best Risk-Adjusted Alternatives to FEM

FEM has a PortfoliosLab risk / return rank of 76. There are 25 ETFs in the Emerging Markets Equities category with higher risk-adjusted ranks, going as high as 93.

Symbol	Name	Risk / Return Rank	AUM	Inception
GEME	Pacific North of South Global Emerging Markets Equ...	93	366.05M	Jan 2025	FEM vs GEME
DBEM	Xtrackers MSCI Emerging Markets Hedged Equity ETF	92	107.84M	Jun 2011	FEM vs DBEM
EMXC	iShares MSCI Emerging Markets ex China ETF	92	26.40B	Jul 2017	FEM vs EMXC
PIE	Invesco DWA Emerging Markets Momentum ETF	92	257.92M	Dec 2007	FEM vs PIE
EVLU	iShares MSCI Emerging Markets Value Factor ETF	91	—	Sep 2024	FEM vs EVLU

Top Performing FEM Alternatives (YTD)

FEM is at 20.65% YTD. There are 32 ETFs in the Emerging Markets Equities category with higher YTD returns, going as high as 47.80%.

Symbol	Name	YTD Return	AUM	Inception
EEMO	Invesco S&P Emerging Markets Momentum ETF	47.80%	21.60M	Feb 2012	FEM vs EEMO
EMXC	iShares MSCI Emerging Markets ex China ETF	47.39%	26.40B	Jul 2017	FEM vs EMXC
PIE	Invesco DWA Emerging Markets Momentum ETF	46.17%	257.92M	Dec 2007	FEM vs PIE
XCEM	Columbia EM Core ex-China ETF	43.27%	2.09B	Sep 2015	FEM vs XCEM
GEME	Pacific North of South Global Emerging Markets Equ...	39.92%	366.05M	Jan 2025	FEM vs GEME

Lowest Volatility Alternatives to FEM

FEM has 18.54% 1-year volatility. There are 31 ETFs in the Emerging Markets Equities category with lower 1-year volatility, going as low as 7.35%.

Symbol	Name	Volatility 1Y	AUM	Inception
TJUN	FT Vest Emerging Markets Buffer ETF - June	7.35%	—	Jun 2025	FEM vs TJUN
TDEC	FT Vest Emerging Markets Buffer ETF - December	10.50%	10.25M	Dec 2024	FEM vs TDEC
EMDV	ProShares MSCI Emerging Markets Dividend Growers E...	11.48%	7.21M	Jan 2016	FEM vs EMDV
EDIV	SPDR S&P Emerging Markets Dividend ETF	12.60%	1.28B	Feb 2011	FEM vs EDIV
QAT	iShares MSCI Qatar ETF	13.27%	67.45M	Apr 2014	FEM vs QAT

Lowest Drawdown Alternatives to FEM

FEM has a 1-year max drawdown of -9.31%. There are 9 ETFs in the Emerging Markets Equities category with shallower 1-year drawdowns, going as shallow as -4.47%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
TJUN	FT Vest Emerging Markets Buffer ETF - June	-4.47%	—	Jun 2025	FEM vs TJUN
DVYE	iShares Emerging Markets Dividend ETF	-7.10%	1.21B	Feb 2012	FEM vs DVYE
EMDV	ProShares MSCI Emerging Markets Dividend Growers E...	-7.24%	7.21M	Jan 2016	FEM vs EMDV
DEM	WisdomTree Emerging Markets Equity Income Fund	-7.89%	4.03B	Jul 2007	FEM vs DEM
EWX	SPDR S&P Emerging Markets Small Cap ETF	-7.98%	747.02M	May 2008	FEM vs EWX

Other ETFs from First Trust

The 10 most viewed First Trust ETFs shown here include CIBR, GRID, NFTY and span 13 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	18	17.18%	13.59B	Jul 2015	FEM vs CIBR
GRID	First Trust NASDAQ Clean Edge Smart Grid Infrastru...	Alternative Energy Equities	78	29.16%	11.60B	Nov 2009	FEM vs GRID
NFTY	First Trust India NIFTY 50 Equal Weight ETF	Asia Pacific Equities, Equal Weight	6	-6.07%	136.58M	Feb 2012	FEM vs NFTY
AIRR	First Trust RBA American Industrial Renaissance ET...	Building & Construction	85	35.61%	11.14B	Mar 2014	FEM vs AIRR
FDL	First Trust Morningstar Dividend Leaders Index Fun...	Large Cap Value Equities, Dividend	65	11.33%	9.22B	Mar 2006	FEM vs FDL
IGLD	FT Vest Gold Strategy Target Income ETF	Gold, Derivative Income, Precious Metals	20	-3.67%	543.16M	Mar 2021	FEM vs IGLD
FTXL	First Trust Nasdaq Semiconductor ETF	Semiconductors, Technology Equities	97	129.34%	2.89B	Sep 2016	FEM vs FTXL
TDIV	First Trust NASDAQ Technology Dividend Index Fund	Technology Equities, Dividend	61	21.87%	4.90B	Aug 2012	FEM vs TDIV
QCLN	First Trust NASDAQ Clean Edge Green Energy Index F...	Alternative Energy Equities	85	46.37%	880.41M	Feb 2007	FEM vs QCLN
KNG	FT Vest S&P 500 Dividend Aristocrats Target Income...	Dividend, S&P 500	28	4.17%	3.32B	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	85	29.75%	—	Sep 2011	FEM vs FPADX
RFEM	First Trust RiverFront Dynamic Emerging Markets ET...	Emerging Markets Equities	76	21.81%	81.21M	Jun 2016	FEM vs RFEM
FDEM	Fidelity Emerging Markets Multifactor ETF	Emerging Markets Equities	75	24.40%	608.46M	Feb 2019	FEM vs FDEM
AVEM	Avantis Emerging Markets Equity ETF	Emerging Markets Equities	82	30.91%	24.32B	Sep 2019	FEM vs AVEM
IQQE.DE	iShares MSCI EM UCITS ETF (Dist)	Emerging Markets Equities	90	34.08%	—	Nov 2005	FEM vs IQQE.DE
VXUS	Vanguard Total International Stock ETF	Global Equities	67	16.04%	652.30B	Jan 2011	FEM vs VXUS
SPYG	State Street SPDR Portfolio S&P 500 Growth ETF	S&P 500, Large Cap Growth Equities	54	11.38%	52.13B	Sep 2000	FEM vs SPYG
SCHD	Schwab U.S. Dividend Equity ETF	Dividend	76	17.24%	99.95B	Oct 2011	FEM vs SCHD
EMCS	Xtrackers MSCI Emerging Markets Climate Selection ...	Emerging Markets Equities, ESG	85	38.43%	1.07B	Dec 2018	FEM vs EMCS
VNAM	Global X MSCI Vietnam ETF	Emerging Markets Equities	56	0.99%	37.01M	Dec 2021	FEM vs VNAM
AGEM	abrdn Emerging Markets Dividend Active ETF	Emerging Markets Equities	87	34.43%	374.25M	Feb 2025	FEM vs AGEM
DGRE	WisdomTree Emerging Markets Quality Dividend Growt...	Emerging Markets Equities, Dividend	85	34.34%	154.36M	Aug 2013	FEM vs DGRE
EMOP	AB Emerging Markets Opportunities ETF	Emerging Markets Equities	83	33.60%	2.16B	Jun 2025	FEM vs EMOP
PXH	Invesco FTSE RAFI Emerging Markets ETF	Emerging Markets Equities	66	13.81%	2.00B	Sep 2007	FEM vs PXH
EQLT	iShares MSCI Emerging Markets Quality Factor ETF	Emerging Markets Equities	87	33.07%	12.86M	Sep 2024	FEM vs EQLT
RNEM	First Trust Emerging Markets Equity Select ETF	Emerging Markets Equities	15	1.33%	16.85M	Jun 2017	FEM vs RNEM
EMGF	iShares Edge MSCI Multifactor Emerging Markets ETF	Emerging Markets Equities	81	32.97%	1.99B	Dec 2015	FEM vs EMGF
JEMA	JPMorgan ActiveBuilders Emerging Markets Equity ET...	Emerging Markets Equities	88	35.21%	1.72B	Mar 2021	FEM vs JEMA
EMXF	iShares ESG Advanced MSCI EM ETF	Emerging Markets Equities	81	29.60%	164.94M	Oct 2020	FEM vs EMXF
JPEM	J.P. Morgan Diversified Return Emerging Markets Eq...	Emerging Markets Equities	52	7.50%	392.87M	Jan 2015	FEM vs JPEM

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