FEMS Alternatives & Similar ETFs

First Trust Emerging Markets Small Cap AlphaDEX Fund (FEMS) 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 FEMS. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to FEMS

FEMS charges 0.80% annually. There are 60 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%	216.60M	Sep 2025	FEMS vs VEXC
VWO	Vanguard FTSE Emerging Markets ETF	0.08%	159.90B	Mar 2005	FEMS vs VWO
SPEM	SPDR Portfolio Emerging Markets ETF	0.11%	17.83B	Mar 2007	FEMS vs SPEM
SCHE	Schwab Emerging Markets Equity ETF	0.11%	12.74B	Jan 2010	FEMS vs SCHE
EMCR	Xtrackers Emerging Markets Carbon Reduction and Cl...	0.15%	58.19M	Dec 2018	FEMS vs EMCR

Best Risk-Adjusted Alternatives to FEMS

FEMS has a PortfoliosLab risk / return rank of 47. There are 43 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	72.25M	Jan 2025	FEMS vs GEME
DBEM	Xtrackers MSCI Emerging Markets Hedged Equity ETF	93	103.78M	Jun 2011	FEMS vs DBEM
EVLU	iShares MSCI Emerging Markets Value Factor ETF	92	—	Sep 2024	FEMS vs EVLU
EMXC	iShares MSCI Emerging Markets ex China ETF	91	24.61B	Jul 2017	FEMS vs EMXC
ROAM	Hartford Multifactor Emerging Markets ETF	91	119.41M	Feb 2015	FEMS vs ROAM

Top Performing FEMS Alternatives (YTD)

FEMS is at 12.16% YTD. There are 42 ETFs in the Emerging Markets Equities category with higher YTD returns, going as high as 41.72%.

Symbol	Name	YTD Return	AUM	Inception
EMXC	iShares MSCI Emerging Markets ex China ETF	41.72%	24.61B	Jul 2017	FEMS vs EMXC
EEMO	Invesco S&P Emerging Markets Momentum ETF	40.25%	15.51M	Feb 2012	FEMS vs EEMO
PIE	Invesco DWA Emerging Markets Momentum ETF	39.11%	237.62M	Dec 2007	FEMS vs PIE
GEME	Pacific North of South Global Emerging Markets Equ...	38.52%	72.25M	Jan 2025	FEMS vs GEME
XCEM	Columbia EM Core ex-China ETF	38.32%	1.98B	Sep 2015	FEMS vs XCEM

Lowest Volatility Alternatives to FEMS

FEMS has 15.84% 1-year volatility. There are 16 ETFs in the Emerging Markets Equities category with lower 1-year volatility, going as low as 7.54%.

Symbol	Name	Volatility 1Y	AUM	Inception
TJUN	FT Vest Emerging Markets Buffer ETF - June	7.54%	—	Jun 2025	FEMS vs TJUN
TDEC	FT Vest Emerging Markets Buffer ETF - December	10.09%	10.25M	Dec 2024	FEMS vs TDEC
EMDV	ProShares MSCI Emerging Markets Dividend Growers E...	11.21%	7.35M	Jan 2016	FEMS vs EMDV
EDIV	SPDR S&P Emerging Markets Dividend ETF	12.19%	1.25B	Feb 2011	FEMS vs EDIV
JPEM	J.P. Morgan Diversified Return Emerging Markets Eq...	12.96%	390.16M	Jan 2015	FEMS vs JPEM

Lowest Drawdown Alternatives to FEMS

FEMS has a 1-year max drawdown of -8.59%. There are 6 ETFs in the Emerging Markets Equities category with shallower 1-year drawdowns, going as shallow as -6.49%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
DVYE	iShares Emerging Markets Dividend ETF	-6.49%	1.28B	Feb 2012	FEMS vs DVYE
EMDV	ProShares MSCI Emerging Markets Dividend Growers E...	-7.24%	7.35M	Jan 2016	FEMS vs EMDV
DEM	WisdomTree Emerging Markets Equity Income Fund	-7.89%	3.78B	Jul 2007	FEMS vs DEM
EWX	SPDR S&P Emerging Markets Small Cap ETF	-7.98%	742.62M	May 2008	FEMS vs EWX
TDEC	FT Vest Emerging Markets Buffer ETF - December	-8.16%	10.25M	Dec 2024	FEMS vs TDEC

Other ETFs from First Trust

The 10 most viewed First Trust ETFs shown here include CIBR, GRID, NFTY and span 11 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	Technology Equities, Cybersecurity	26	28.52%	13.68B	Jul 2015	FEMS vs CIBR
GRID	First Trust Nasdaq Clean Edge Smart GRID Infrastru...	Alternative Energy Equities	79	28.91%	11.29B	Nov 2009	FEMS vs GRID
NFTY	First Trust India NIFTY 50 Equal Weight ETF	Asia Pacific Equities	3	-9.70%	133.88M	Feb 2012	FEMS vs NFTY
AIRR	First Trust RBA American Industrial Renaissance ET...	Building & Construction	78	31.77%	10.62B	Mar 2014	FEMS vs AIRR
FDL	First Trust Morningstar Dividend Leaders Index Fun...	Large Cap Value Equities, Dividend	70	13.33%	7.39B	Mar 2006	FEMS vs FDL
IGLD	FT Cboe Vest Gold Strategy Target Income ETF	Precious Metals, Gold	28	1.69%	591.41M	Mar 2021	FEMS vs IGLD
FTXL	First Trust Nasdaq Semiconductor ETF	Semiconductors, Technology Equities	97	115.70%	2.52B	Sep 2016	FEMS vs FTXL
TDIV	First Trust NASDAQ Technology Dividend Index Fund	Technology Equities, Dividend	83	30.57%	4.66B	Aug 2012	FEMS vs TDIV
KNG	FT Cboe Vest S&P 500 Dividend Aristocrats Target I...	Dividend, S&P 500	20	2.20%	3.28B	Mar 2018	FEMS vs KNG
QCLN	First Trust NASDAQ Clean Edge Green Energy Index F...	Alternative Energy Equities	89	52.94%	895.30M	Feb 2007	FEMS vs QCLN

Often Compared With FEMS

Investors most often compare FEMS with EYLD, AVEE, FNDF. These 20 comparison targets span 12 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
EYLD	Cambria Emerging Shareholder Yield ETF	Emerging Markets Equities	78	23.85%	816.33M	Jul 2016	FEMS vs EYLD
AVEE	Avantis Emerging Markets Small Cap Equity ETF	Emerging Markets Diversified	46	13.83%	117.88M	Nov 2023	FEMS vs AVEE
FNDF	Schwab Fundamental International Large Company Ind...	Foreign Large Cap Equities	84	21.21%	24.55B	Aug 2013	FEMS vs FNDF
EEMS	iShares MSCI Emerging Markets Small-Cap ETF	Emerging Markets Diversified	51	14.63%	398.18M	Aug 2011	FEMS vs EEMS
SSO	ProShares Ultra S&P500	Leveraged Equities, S&P 500	62	19.37%	8.38B	Jun 2006	FEMS vs SSO
VOO	Vanguard S&P 500 ETF	S&P 500	70	10.91%	1.60T	Sep 2010	FEMS vs VOO
AVEM	Avantis Emerging Markets Equity ETF	Foreign Large Cap Equities	82	27.59%	24.32B	Sep 2019	FEMS vs AVEM
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense, Industrials Equities	37	8.54%	8.37B	Oct 2005	FEMS vs PPA
VWRA.L	Vanguard FTSE All-World UCITS ETF USD Accumulating	Global Equities	71	11.69%	65.96B	Jul 2019	FEMS vs VWRA.L
DGS	WisdomTree Emerging Markets SmallCap Dividend Fund	Emerging Markets Diversified, Dividend	51	14.53%	1.76B	Oct 2007	FEMS vs DGS
EMOP	AB Emerging Markets Opportunities ETF	Emerging Markets Equities	—	32.56%	2.13B	Jun 2025	FEMS vs EMOP
VNAM	Global X MSCI Vietnam ETF	Emerging Markets Equities	46	-2.39%	36.43M	Dec 2021	FEMS vs VNAM
FLSA	Franklin FTSE Saudi Arabia ETF	Emerging Markets Equities	13	5.04%	5.00M	Oct 2018	FEMS vs FLSA
ECOW	Pacer Emerging Markets Cash Cows 100 ETF	Emerging Markets Equities	77	13.10%	214.70M	May 2019	FEMS vs ECOW
FEM	First Trust Emerging Markets AlphaDEX Fund	Emerging Markets Equities	76	20.43%	764.60M	Apr 2011	FEMS vs FEM
SMMV	iShares MSCI USA Small-Cap Min Vol Factor ETF	Small Cap Growth Equities	20	2.04%	279.24M	Sep 2016	FEMS vs SMMV
AVDV	Avantis International Small Cap Value ETF	Foreign Small & Mid Cap Equities	78	16.04%	19.44B	Sep 2019	FEMS vs AVDV
EMIF	iShares Emerging Markets Infrastructure ETF	Emerging Markets Equities	37	1.74%	13.58M	Jun 2009	FEMS vs EMIF
BWX	SPDR Bloomberg Barclays International Treasury Bon...	International Government Bonds	5	-1.91%	1.47B	Oct 2007	FEMS vs BWX
TUR	iShares MSCI Turkey ETF	Emerging Markets Equities	35	13.80%	218.28M	Mar 2008	FEMS vs TUR

Compare FEMS with Any Fund or Stock

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

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Diversifiers

Pair FEMS with funds that move differently

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

Explore FEMS Diversifiers

First Trust Emerging Markets Small Cap AlphaDEX Fund (FEMS) Alternatives