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 73 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	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%	12.63B	Jan 2010	FEMS vs SCHE
BKEM	BNY Mellon Emerging Markets Equity ETF	0.11%	86.15M	Apr 2020	FEMS vs BKEM

Best Risk-Adjusted Alternatives to FEMS

FEMS has a PortfoliosLab risk / return rank of 33. There are 52 ETFs in the Emerging Markets Equities category with higher risk-adjusted ranks, going as high as 86.

Symbol	Name	Risk / Return Rank	AUM	Inception
GEME	Pacific North of South Global Emerging Markets Equ...	86	366.05M	Jan 2025	FEMS vs GEME
EVLU	iShares MSCI Emerging Markets Value Factor ETF	85	—	Sep 2024	FEMS vs EVLU
PIE	Invesco DWA Emerging Markets Momentum ETF	85	262.88M	Dec 2007	FEMS vs PIE
ECOW	Pacer Emerging Markets Cash Cows 100 ETF	78	213.27M	May 2019	FEMS vs ECOW
ROAM	Hartford Multifactor Emerging Markets ETF	77	109.30M	Feb 2015	FEMS vs ROAM

Top Performing FEMS Alternatives (YTD)

FEMS is at 9.99% YTD. There are 47 ETFs in the Emerging Markets Equities category with higher YTD returns, going as high as 35.77%.

Symbol	Name	YTD Return	AUM	Inception
PIE	Invesco DWA Emerging Markets Momentum ETF	35.77%	262.88M	Dec 2007	FEMS vs PIE
EMXC	iShares MSCI Emerging Markets ex China ETF	28.41%	24.99B	Jul 2017	FEMS vs EMXC
GEME	Pacific North of South Global Emerging Markets Equ...	28.13%	366.05M	Jan 2025	FEMS vs GEME
XCEM	Columbia EM Core ex-China ETF	26.23%	1.97B	Sep 2015	FEMS vs XCEM
EVLU	iShares MSCI Emerging Markets Value Factor ETF	25.81%	—	Sep 2024	FEMS vs EVLU

Lowest Volatility Alternatives to FEMS

FEMS has 17.17% 1-year volatility. There are 25 ETFs in the Emerging Markets Equities category with lower 1-year volatility, going as low as 9.79%.

Symbol	Name	Volatility 1Y	AUM	Inception
TJUN	FT Vest Emerging Markets Buffer ETF - June	9.79%	—	Jun 2025	FEMS vs TJUN
TDEC	FT Vest Emerging Markets Buffer ETF - December	10.80%	10.25M	Dec 2024	FEMS vs TDEC
EMDV	ProShares MSCI Emerging Markets Dividend Growers E...	11.52%	7.11M	Jan 2016	FEMS vs EMDV
RNEM	First Trust Emerging Markets Equity Select ETF	12.50%	16.78M	Jun 2017	FEMS vs RNEM
EDIV	SPDR S&P Emerging Markets Dividend ETF	12.81%	1.22B	Feb 2011	FEMS vs EDIV

Lowest Drawdown Alternatives to FEMS

FEMS has a 1-year max drawdown of -8.98%. There are 6 ETFs in the Emerging Markets Equities category with shallower 1-year drawdowns, going as shallow as -7.02%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
TJUN	FT Vest Emerging Markets Buffer ETF - June	-7.02%	—	Jun 2025	FEMS vs TJUN
EMDV	ProShares MSCI Emerging Markets Dividend Growers E...	-7.24%	7.11M	Jan 2016	FEMS vs EMDV
DEM	WisdomTree Emerging Markets Equity Income Fund	-7.89%	3.91B	Jul 2007	FEMS vs DEM
EWX	SPDR S&P Emerging Markets Small Cap ETF	-7.98%	707.60M	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, 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	31	28.94%	14.26B	Jul 2015	FEMS vs CIBR
GRID	First Trust NASDAQ Clean Edge Smart Grid Infrastru...	Alternative Energy Equities	49	16.65%	11.74B	Nov 2009	FEMS vs GRID
AIRR	First Trust RBA American Industrial Renaissance ET...	Building & Construction	69	24.42%	10.80B	Mar 2014	FEMS vs AIRR
NFTY	First Trust India NIFTY 50 Equal Weight ETF	India Equities, Equal Weight, Asia Pacific Equities	4	-8.35%	132.86M	Feb 2012	FEMS vs NFTY
FDL	First Trust Morningstar Dividend Leaders Index Fun...	Large Cap Value Equities, Dividend	87	17.61%	7.48B	Mar 2006	FEMS vs FDL
IGLD	FT Vest Gold Strategy Target Income ETF	Gold, Derivative Income, Precious Metals	18	-8.26%	510.89M	Mar 2021	FEMS vs IGLD
FTXL	First Trust Nasdaq Semiconductor ETF	Semiconductors, Technology Equities	92	77.15%	2.46B	Sep 2016	FEMS vs FTXL
TDIV	First Trust NASDAQ Technology Dividend Index Fund	Technology Equities, Dividend	33	13.37%	4.34B	Aug 2012	FEMS vs TDIV
QCLN	First Trust NASDAQ Clean Edge Green Energy Index F...	Alternative Energy Equities	46	17.05%	718.18M	Feb 2007	FEMS vs QCLN
KNG	FT Vest S&P 500 Dividend Aristocrats Target Income...	Dividend, S&P 500	37	9.14%	3.40B	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	65	20.78%	845.66M	Jul 2016	FEMS vs EYLD
AVEE	Avantis Emerging Markets Small Cap Equity ETF	Emerging Markets Diversified	24	7.83%	117.70M	Nov 2023	FEMS vs AVEE
FNDF	Schwab Fundamental International Equity ETF	Foreign Large Cap Equities, Large Cap Value Equities	84	17.52%	24.25B	Aug 2013	FEMS vs FNDF
EEMS	iShares MSCI Emerging Markets Small-Cap ETF	Emerging Markets Diversified	29	8.56%	375.84M	Aug 2011	FEMS vs EEMS
SSO	ProShares Ultra S&P500	Leveraged Equities, S&P 500	54	17.80%	8.13B	Jun 2006	FEMS vs SSO
VOO	Vanguard S&P 500 ETF	S&P 500	66	10.72%	1.70T	Sep 2010	FEMS vs VOO
AVEM	Avantis Emerging Markets Equity ETF	Emerging Markets Equities	54	18.11%	25.69B	Sep 2019	FEMS vs AVEM
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense, Industrials Equities	28	7.88%	8.22B	Oct 2005	FEMS vs PPA
EMOP	AB Emerging Markets Opportunities ETF	Emerging Markets Equities	64	21.55%	2.10B	Jun 2025	FEMS vs EMOP
VNAM	Global X MSCI Vietnam ETF	Emerging Markets Equities	32	-3.35%	36.75M	Dec 2021	FEMS vs VNAM
FLSA	Franklin FTSE Saudi Arabia ETF	Emerging Markets Equities	10	2.75%	4.80M	Oct 2018	FEMS vs FLSA
VWRA.L	Vanguard FTSE All-World UCITS ETF USD Accumulating	Global Equities	73	11.02%	75.68B	Jul 2019	FEMS vs VWRA.L
DGS	WisdomTree Emerging Markets SmallCap Dividend Fund	Emerging Markets Diversified, Dividend	37	11.94%	1.78B	Oct 2007	FEMS vs DGS
AVDV	Avantis International Small Cap Value ETF	Foreign Small & Mid Cap Equities	73	12.13%	18.99B	Sep 2019	FEMS vs AVDV
BWX	SPDR Bloomberg Barclays International Treasury Bon...	International Government Bonds	4	-3.06%	1.33B	Oct 2007	FEMS vs BWX
FEM	First Trust Emerging Markets AlphaDEX Fund	Emerging Markets Equities	62	15.41%	746.53M	Apr 2011	FEMS vs FEM
EMIF	iShares Emerging Markets Infrastructure ETF	Emerging Markets Equities	24	-1.81%	13.17M	Jun 2009	FEMS vs EMIF
DVYE	iShares Emerging Markets Dividend ETF	Emerging Markets Equities, Dividend	49	8.35%	1.20B	Feb 2012	FEMS vs DVYE
SMMV	iShares MSCI USA Small-Cap Min Vol Factor ETF	Small Cap Growth Equities	54	9.45%	287.62M	Sep 2016	FEMS vs SMMV
QAT	iShares MSCI Qatar ETF	Emerging Markets Equities	8	-3.28%	65.85M	Apr 2014	FEMS vs QAT

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