ADDS vs. MFEM
ADDS (Hedgeye Index Adds ETF) and MFEM (PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF) are both exchange-traded funds - ADDS is a Multi-factor fund actively managed by Hedgeye, while MFEM is a Emerging Markets Equities fund tracking the RAFI Dynamic Multi-Factor Emerging Market Index. ADDS is actively managed, while MFEM is passively managed. Their 0.69 correlation means they have sometimes moved together and sometimes differently. ADDS charges 0.70%/yr vs 0.49%/yr for MFEM.
Performance
ADDS vs. MFEM - Performance Comparison
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Returns By Period
ADDS
- 1D
- -0.87%
- 1M
- -3.58%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
MFEM
- 1D
- -0.80%
- 1M
- -1.96%
- 6M
- 6.50%
- YTD
- 17.43%
- 1Y
- 27.26%
- 3Y*
- 15.67%
- 5Y*
- 7.26%
- 10Y*
- —
- ALL TIME*
- 6.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $300.75K | $267.26K | $427.68K | |
| $480.27K | $661.83K | $604.98K |
ADDS vs. MFEM - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
ADDS Hedgeye Index Adds ETF | -1.41% |
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF | -8.47% |
Correlation
The correlation between ADDS and MFEM is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 28, 2026 | 0.69 |
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Return for Risk
ADDS vs. MFEM — Risk / Return Rank
ADDS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MFEM
ADDS vs. MFEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hedgeye Index Adds ETF (ADDS) and PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ADDS | MFEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.24 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.13 | — |
| Martin ratioReturn relative to average drawdown | — | 5.70 | — |
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Drawdowns
ADDS vs. MFEM - Drawdown Comparison
The maximum ADDS drawdown since its inception was -10.69%, smaller than the maximum MFEM drawdown of -43.32%. Use the drawdown chart below to compare losses from any high point for ADDS and MFEM.
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Drawdown Indicators
| ADDS | MFEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.69% | -43.32% | +32.63% |
Max Drawdown (1Y)Largest decline over 1 year | — | -12.86% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.22% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.78% | — |
Current DrawdownCurrent decline from peak | -10.69% | -11.71% | +1.02% |
Average DrawdownAverage peak-to-trough decline | -5.54% | -11.43% | +5.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.80% | — |
Volatility
ADDS vs. MFEM - Volatility Comparison
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Volatility by Period
| ADDS | MFEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.86% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 20.48% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 39.67% | 22.32% | +17.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.67% | 17.34% | +22.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.67% | 19.66% | +20.01% |
ADDS vs. MFEM - Expense Ratio Comparison
ADDS has a 0.70% expense ratio, which is higher than MFEM's 0.49% expense ratio.
Dividends
ADDS vs. MFEM - Dividend Comparison
ADDS has not paid dividends to shareholders, while MFEM's dividend yield for the trailing twelve months is around 2.35%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ADDS Hedgeye Index Adds ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF | 2.35% | 2.77% | 5.89% | 4.01% | 7.01% | 29.96% | 1.70% | 2.37% | 1.18% | 0.21% |
Frequently Asked Questions
ADDS and MFEM have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MFEM is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MFEM is cheaper with a 0.49% expense ratio, compared with 0.70% for ADDS.
MFEM has the higher dividend yield at 2.35%, compared with 0.00% for ADDS.
ADDS is categorized as Multi-factor, while MFEM is Emerging Markets Equities. They also come from different issuers: Hedgeye and PIMCO. Their fees differ too: 0.70% for ADDS and 0.49% for MFEM.
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