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 62 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%	17.88B	Mar 2007	FEMS vs SPEM
VEXC	Vanguard Emerging Markets Ex-China ETF	0.07%	235.70M	Sep 2025	FEMS vs VEXC
VWO	Vanguard FTSE Emerging Markets ETF	0.08%	162.80B	Mar 2005	FEMS vs VWO
SCHE	Schwab Emerging Markets Equity ETF	0.11%	12.80B	Jan 2010	FEMS vs SCHE
EMCR	Xtrackers Emerging Markets Carbon Reduction and Cl...	0.15%	58.93M	Dec 2018	FEMS vs EMCR

Best Risk-Adjusted Alternatives to FEMS

FEMS has a PortfoliosLab risk / return rank of 38. There are 49 ETFs in the Emerging Markets Equities category with higher risk-adjusted ranks, going as high as 90.

Symbol	Name	Risk / Return Rank	AUM	Inception
GEME	Pacific North of South Global Emerging Markets Equ...	90	366.05M	Jan 2025	FEMS vs GEME
EMXC	iShares MSCI Emerging Markets ex China ETF	88	26.40B	Jul 2017	FEMS vs EMXC
EVLU	iShares MSCI Emerging Markets Value Factor ETF	88	—	Sep 2024	FEMS vs EVLU
PIE	Invesco DWA Emerging Markets Momentum ETF	88	257.92M	Dec 2007	FEMS vs PIE
DBEM	Xtrackers MSCI Emerging Markets Hedged Equity ETF	87	107.84M	Jun 2011	FEMS vs DBEM

Top Performing FEMS Alternatives (YTD)

FEMS is at 8.92% YTD. There are 44 ETFs in the Emerging Markets Equities category with higher YTD returns, going as high as 41.14%.

Symbol	Name	YTD Return	AUM	Inception
EEMO	Invesco S&P Emerging Markets Momentum ETF	41.14%	21.60M	Feb 2012	FEMS vs EEMO
EMXC	iShares MSCI Emerging Markets ex China ETF	40.62%	26.40B	Jul 2017	FEMS vs EMXC
PIE	Invesco DWA Emerging Markets Momentum ETF	39.08%	257.92M	Dec 2007	FEMS vs PIE
XCEM	Columbia EM Core ex-China ETF	35.82%	2.09B	Sep 2015	FEMS vs XCEM
GEME	Pacific North of South Global Emerging Markets Equ...	34.41%	366.05M	Jan 2025	FEMS vs GEME

Lowest Volatility Alternatives to FEMS

FEMS has 16.67% 1-year volatility. There are 22 ETFs in the Emerging Markets Equities category with lower 1-year volatility, going as low as 8.18%.

Symbol	Name	Volatility 1Y	AUM	Inception
TJUN	FT Vest Emerging Markets Buffer ETF - June	8.18%	—	Jun 2025	FEMS vs TJUN
TDEC	FT Vest Emerging Markets Buffer ETF - December	10.58%	10.25M	Dec 2024	FEMS vs TDEC
EMDV	ProShares MSCI Emerging Markets Dividend Growers E...	11.44%	7.21M	Jan 2016	FEMS vs EMDV
EDIV	SPDR S&P Emerging Markets Dividend ETF	12.56%	1.28B	Feb 2011	FEMS vs EDIV
QAT	iShares MSCI Qatar ETF	13.15%	67.45M	Apr 2014	FEMS vs QAT

Lowest Drawdown Alternatives to FEMS

FEMS has a 1-year max drawdown of -8.98%. There are 7 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	FEMS vs TJUN
EMDV	ProShares MSCI Emerging Markets Dividend Growers E...	-7.24%	7.21M	Jan 2016	FEMS vs EMDV
DEM	WisdomTree Emerging Markets Equity Income Fund	-7.89%	4.03B	Jul 2007	FEMS vs DEM
EWX	SPDR S&P Emerging Markets Small Cap ETF	-7.98%	747.02M	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 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	17	17.39%	13.59B	Jul 2015	FEMS vs CIBR
GRID	First Trust NASDAQ Clean Edge Smart Grid Infrastru...	Alternative Energy Equities	72	24.91%	11.60B	Nov 2009	FEMS vs GRID
NFTY	First Trust India NIFTY 50 Equal Weight ETF	Asia Pacific Equities, Equal Weight	5	-6.80%	136.58M	Feb 2012	FEMS vs NFTY
AIRR	First Trust RBA American Industrial Renaissance ET...	Building & Construction	87	35.27%	11.14B	Mar 2014	FEMS vs AIRR
FDL	First Trust Morningstar Dividend Leaders Index Fun...	Large Cap Value Equities, Dividend	79	12.82%	9.22B	Mar 2006	FEMS vs FDL
IGLD	FT Vest Gold Strategy Target Income ETF	Gold, Derivative Income, Precious Metals	18	-7.48%	543.16M	Mar 2021	FEMS vs IGLD
FTXL	First Trust Nasdaq Semiconductor ETF	Semiconductors, Technology Equities	97	118.29%	2.89B	Sep 2016	FEMS vs FTXL
TDIV	First Trust NASDAQ Technology Dividend Index Fund	Technology Equities, Dividend	52	18.34%	4.90B	Aug 2012	FEMS vs TDIV
QCLN	First Trust NASDAQ Clean Edge Green Energy Index F...	Alternative Energy Equities	82	36.32%	880.41M	Feb 2007	FEMS vs QCLN
KNG	FT Vest S&P 500 Dividend Aristocrats Target Income...	Dividend, S&P 500	35	6.46%	3.32B	Mar 2018	FEMS vs KNG

Often Compared With FEMS

Investors most often compare FEMS with EYLD, AVEE, FNDF. These 20 comparison targets span 13 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	64	19.65%	864.63M	Jul 2016	FEMS vs EYLD
AVEE	Avantis Emerging Markets Small Cap Equity ETF	Emerging Markets Diversified	32	10.25%	117.88M	Nov 2023	FEMS vs AVEE
FNDF	Schwab Fundamental International Equity ETF	Foreign Large Cap Equities, Large Cap Value Equities	84	17.67%	24.80B	Aug 2013	FEMS vs FNDF
EEMS	iShares MSCI Emerging Markets Small-Cap ETF	Emerging Markets Diversified	37	11.30%	390.89M	Aug 2011	FEMS vs EEMS
SSO	ProShares Ultra S&P500	Leveraged Equities, S&P 500	52	12.77%	8.02B	Jun 2006	FEMS vs SSO
VOO	Vanguard S&P 500 ETF	S&P 500	63	8.09%	1.70T	Sep 2010	FEMS vs VOO
AVEM	Avantis Emerging Markets Equity ETF	Emerging Markets Equities	72	24.95%	24.32B	Sep 2019	FEMS vs AVEM
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense, Industrials Equities	41	9.73%	8.26B	Oct 2005	FEMS vs PPA
VWRA.L	Vanguard FTSE All-World UCITS ETF USD Accumulating	Global Equities	70	9.53%	72.38B	Jul 2019	FEMS vs VWRA.L
VNAM	Global X MSCI Vietnam ETF	Emerging Markets Equities	56	-0.45%	37.01M	Dec 2021	FEMS vs VNAM
EMOP	AB Emerging Markets Opportunities ETF	Emerging Markets Equities	75	29.00%	2.16B	Jun 2025	FEMS vs EMOP
DGS	WisdomTree Emerging Markets SmallCap Dividend Fund	Emerging Markets Diversified, Dividend	44	13.01%	1.84B	Oct 2007	FEMS vs DGS
FLSA	Franklin FTSE Saudi Arabia ETF	Emerging Markets Equities	12	5.36%	5.06M	Oct 2018	FEMS vs FLSA
ECOW	Pacer Emerging Markets Cash Cows 100 ETF	Emerging Markets Equities	69	8.49%	210.83M	May 2019	FEMS vs ECOW
DVYE	iShares Emerging Markets Dividend ETF	Emerging Markets Equities, Dividend	47	5.60%	1.21B	Feb 2012	FEMS vs DVYE
AVDV	Avantis International Small Cap Value ETF	Foreign Small & Mid Cap Equities	79	12.51%	19.44B	Sep 2019	FEMS vs AVDV
EMIF	iShares Emerging Markets Infrastructure ETF	Emerging Markets Equities	31	1.49%	13.34M	Jun 2009	FEMS vs EMIF
FEM	First Trust Emerging Markets AlphaDEX Fund	Emerging Markets Equities	67	16.06%	767.68M	Apr 2011	FEMS vs FEM
BWX	SPDR Bloomberg Barclays International Treasury Bon...	International Government Bonds	3	-2.85%	1.40B	Oct 2007	FEMS vs BWX
SMMV	iShares MSCI USA Small-Cap Min Vol Factor ETF	Small Cap Growth Equities	31	4.97%	278.38M	Sep 2016	FEMS vs SMMV

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