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 114 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%	16.81B	Mar 2007	FEM vs SPEM
VEXC	Vanguard Emerging Markets Ex-China ETF	0.07%	258.70M	Sep 2025	FEM vs VEXC
VWO	Vanguard FTSE Emerging Markets ETF	0.08%	163.30B	Mar 2005	FEM vs VWO
IEMG	iShares Core MSCI Emerging Markets ETF	0.09%	152.22B	Oct 2012	FEM vs IEMG
BKEM	BNY Mellon Emerging Markets Equity ETF	0.11%	89.24M	Apr 2020	FEM vs BKEM

Best Risk-Adjusted Alternatives to FEM

FEM has a PortfoliosLab risk / return rank of 60. There are 61 ETFs in the Emerging Markets Equities category with higher risk-adjusted ranks, going as high as 92.

Symbol	Name	Risk / Return Rank	AUM	Inception
EMEQ	Nomura Focused Emerging Markets Equity ETF	92	658.42M	Sep 2024	FEM vs EMEQ
GEME	Pacific North of South Global Emerging Markets Equ...	90	366.05M	Jan 2025	FEM vs GEME
EVLU	iShares MSCI Emerging Markets Value Factor ETF	90	—	Sep 2024	FEM vs EVLU
EMDM	First Trust Bloomberg Emerging Market Democracies ...	90	38.85M	Mar 2023	FEM vs EMDM
FTHF	First Trust Emerging Markets Human Flourishing ETF	87	123.28M	Oct 2023	FEM vs FTHF

Top Performing FEM Alternatives (YTD)

FEM is at 13.37% YTD. There are 76 ETFs in the Emerging Markets Equities category with higher YTD returns, going as high as 55.77%.

Symbol	Name	YTD Return	AUM	Inception
EMEQ	Nomura Focused Emerging Markets Equity ETF	55.77%	658.42M	Sep 2024	FEM vs EMEQ
FTHF	First Trust Emerging Markets Human Flourishing ETF	34.68%	123.28M	Oct 2023	FEM vs FTHF
STXE	Strive Emerging Markets Ex-China ETF	31.48%	139.63M	Jan 2023	FEM vs STXE
EMSF	Matthews Emerging Markets Sustainable Future Activ...	30.73%	43.26M	Sep 2023	FEM vs EMSF
GEME	Pacific North of South Global Emerging Markets Equ...	29.70%	366.05M	Jan 2025	FEM vs GEME

Lowest Volatility Alternatives to FEM

FEM has 20.19% 1-year volatility. There are 43 ETFs in the Emerging Markets Equities category with lower 1-year volatility, going as low as 8.64%.

Symbol	Name	Volatility 1Y	AUM	Inception
EJAN	Innovator Emerging Markets Power Buffer ETF Januar...	8.64%	144.99M	Jan 2020	FEM vs EJAN
TJUN	FT Vest Emerging Markets Buffer ETF - June	10.70%	—	Jun 2025	FEM vs TJUN
TDEC	FT Vest Emerging Markets Buffer ETF - December	11.07%	10.25M	Dec 2024	FEM vs TDEC
EMDV	ProShares MSCI Emerging Markets Dividend Growers E...	11.68%	7.35M	Jan 2016	FEM vs EMDV
RNEM	First Trust Emerging Markets Equity Select ETF	12.51%	17.22M	Jun 2017	FEM vs RNEM

Lowest Drawdown Alternatives to FEM

FEM has a 1-year max drawdown of -10.88%. There are 19 ETFs in the Emerging Markets Equities category with shallower 1-year drawdowns, going as shallow as -6.63%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
EJAN	Innovator Emerging Markets Power Buffer ETF Januar...	-6.63%	144.99M	Jan 2020	FEM vs EJAN
EMDV	ProShares MSCI Emerging Markets Dividend Growers E...	-7.24%	7.35M	Jan 2016	FEM vs EMDV
DEM	WisdomTree Emerging Markets Equity Income Fund	-7.89%	3.87B	Jul 2007	FEM vs DEM
TDEC	FT Vest Emerging Markets Buffer ETF - December	-8.16%	10.25M	Dec 2024	FEM vs TDEC
ECOW	Pacer Emerging Markets Cash Cows 100 ETF	-8.35%	217.49M	May 2019	FEM vs ECOW

Other ETFs from First Trust

The 10 most viewed First Trust ETFs shown here include CIBR, GRID, AIRR and span 16 categories. AUM among these funds goes as high as $25B.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
CIBR	First Trust NASDAQ Cybersecurity ETF	Cybersecurity, Technology Equities	44	31.78%	14.31B	Jul 2015	FEM vs CIBR
GRID	First Trust NASDAQ Clean Edge Smart Grid Infrastru...	Infrastructure Equities, Alternative Energy Equities, Energy Equities	53	19.50%	11.67B	Nov 2009	FEM vs GRID
AIRR	First Trust RBA American Industrial Renaissance ET...	Building & Construction	63	22.38%	10.18B	Mar 2014	FEM vs AIRR
NFTY	First Trust India NIFTY 50 Equal Weight ETF	India Equities, Equal Weight, Asia Pacific Equities	9	-5.08%	118.19M	Feb 2012	FEM vs NFTY
FDL	First Trust Morningstar Dividend Leaders Index Fun...	Large Cap Value Equities, Dividend	92	18.62%	7.77B	Mar 2006	FEM vs FDL
IGLD	FT Vest Gold Strategy Target Income ETF	Gold, Derivative Income, Precious Metals	23	-6.86%	514.13M	Mar 2021	FEM vs IGLD
FTXL	First Trust Nasdaq Semiconductor ETF	Semiconductors, Technology Equities	91	68.79%	1.27B	Sep 2016	FEM vs FTXL
TDIV	First Trust NASDAQ Technology Dividend Index Fund	Technology Equities, Dividend	49	16.55%	4.18B	Aug 2012	FEM vs TDIV
QCLN	First Trust NASDAQ Clean Edge Green Energy Index F...	Alternative Energy Equities, Energy Equities	42	13.15%	586.61M	Feb 2007	FEM vs QCLN
RDVY	First Trust Rising Dividend Achievers ETF	Dividend, Large Cap Blend Equities	88	18.21%	24.89B	Jan 2014	FEM vs RDVY

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 Equities	61	18.42%	—	Sep 2011	FEM vs FPADX
RFEM	First Trust RiverFront Dynamic Emerging Markets ET...	Emerging Markets Equities	76	17.85%	78.66M	Jun 2016	FEM vs RFEM
FDEM	Fidelity Emerging Markets Multifactor ETF	Emerging Markets Equities	57	15.13%	587.02M	Feb 2019	FEM vs FDEM
AVEM	Avantis Emerging Markets Equity ETF	Emerging Markets Equities	62	17.91%	25.76B	Sep 2019	FEM vs AVEM
IQQE.DE	iShares MSCI EM UCITS ETF (Dist)	Emerging Markets Equities	68	19.62%	—	Nov 2005	FEM vs IQQE.DE
VXUS	Vanguard Total International Stock ETF	Global Equities	72	13.32%	651.00B	Jan 2011	FEM vs VXUS
SPYG	State Street SPDR Portfolio S&P 500 Growth ETF	S&P 500, Large Cap Growth Equities	53	12.43%	51.09B	Sep 2000	FEM vs SPYG
SCHD	Schwab U.S. Dividend Equity ETF	Dividend	95	24.36%	104.16B	Oct 2011	FEM vs SCHD
EMCS	Xtrackers MSCI Emerging Markets Climate Selection ...	Emerging Markets Equities, ESG	73	24.35%	939.03M	Dec 2018	FEM vs EMCS
VNAM	Global X MSCI Vietnam ETF	Emerging Markets Equities	30	-5.90%	34.71M	Dec 2021	FEM vs VNAM
EMOP	AB Emerging Markets Opportunities ETF	Emerging Markets Equities	71	21.20%	1.96B	Jun 2025	FEM vs EMOP
EQLT	iShares MSCI Emerging Markets Quality Factor ETF	Quality Factor, Emerging Markets Equities	81	22.86%	11.86M	Sep 2024	FEM vs EQLT
DGRE	WisdomTree Emerging Markets Quality Dividend Growt...	Quality Factor, Emerging Markets Equities, Dividend	77	22.89%	141.38M	Aug 2013	FEM vs DGRE
PXH	Invesco FTSE RAFI Emerging Markets ETF	Emerging Markets Equities	75	14.20%	1.95B	Sep 2007	FEM vs PXH
AGEM	abrdn Emerging Markets Dividend Active ETF	Emerging Markets Equities	80	24.99%	344.21M	Feb 2025	FEM vs AGEM
JEMA	JPMorgan ActiveBuilders Emerging Markets Equity ET...	Emerging Markets Equities	74	20.95%	1.63B	Mar 2021	FEM vs JEMA
EMGF	iShares Edge MSCI Multifactor Emerging Markets ETF	Emerging Markets Equities	59	18.62%	1.83B	Dec 2015	FEM vs EMGF
EMXF	iShares ESG Advanced MSCI EM ETF	Emerging Markets Equities	69	19.42%	159.73M	Oct 2020	FEM vs EMXF
EMCR	Xtrackers Emerging Markets Carbon Reduction and Cl...	Emerging Markets Equities	56	14.41%	56.42M	Dec 2018	FEM vs EMCR
SCHE	Schwab Emerging Markets Equity ETF	Emerging Markets Equities	52	10.49%	12.59B	Jan 2010	FEM vs SCHE

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