ALTY vs. RFEM
ALTY (Global X Alternative Income ETF) and RFEM (First Trust RiverFront Dynamic Emerging Markets ETF) are both exchange-traded funds - ALTY is a Global Allocation fund tracking the Indxx SuperDividend Alternatives Index, while RFEM is a Emerging Markets Equities fund actively managed by First Trust. ALTY is passively managed, while RFEM is actively managed. Over the past 10 years, ALTY returned 6.15%/yr vs 9.39%/yr for RFEM. At a 0.49 correlation, their price movements are largely independent. ALTY charges 0.50%/yr vs 0.95%/yr for RFEM.
Performance
ALTY vs. RFEM - Performance Comparison
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Returns By Period
In the year-to-date period, ALTY achieves a 6.45% return, which is significantly lower than RFEM's 18.11% return. Over the past 10 years, ALTY has underperformed RFEM with an annualized return of 6.15%, while RFEM has yielded a comparatively higher 9.39% annualized return.
ALTY
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 6.45%
- 6M
- 6.36%
- 1Y
- 14.94%
- 3Y*
- 11.73%
- 5Y*
- 5.49%
- 10Y*
- 6.15%
RFEM
- 1D
- -3.04%
- 1M
- 0.28%
- YTD
- 18.11%
- 6M
- 18.72%
- 1Y
- 36.93%
- 3Y*
- 22.77%
- 5Y*
- 8.62%
- 10Y*
- 9.39%
ALTY vs. RFEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALTY Global X Alternative Income ETF | 6.45% | 11.07% | 10.88% | 10.58% | -11.92% | 23.08% | -12.82% | 21.44% | -6.18% | 10.82% |
RFEM First Trust RiverFront Dynamic Emerging Markets ETF | 18.11% | 27.71% | 10.85% | 20.78% | -19.05% | 0.97% | 8.19% | 20.33% | -18.80% | 35.73% |
Correlation
The correlation between ALTY and RFEM is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2016 | 0.49 |
The correlation between ALTY and RFEM has been stable across timeframes, ranging from 0.49 to 0.56 - a consistent structural relationship.
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Return for Risk
ALTY vs. RFEM — Risk / Return Rank
ALTY
RFEM
ALTY vs. RFEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Alternative Income ETF (ALTY) and First Trust RiverFront Dynamic Emerging Markets ETF (RFEM). 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.
| ALTY | RFEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.38 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 3.19 | +0.27 |
| Martin ratioReturn relative to average drawdown | 15.92 | 12.49 | +3.43 |
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Drawdowns
ALTY vs. RFEM - Drawdown Comparison
The maximum ALTY drawdown since its inception was -51.47%, which is greater than RFEM's maximum drawdown of -42.22%. Use the drawdown chart below to compare losses from any high point for ALTY and RFEM.
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Drawdown Indicators
| ALTY | RFEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.47% | -42.22% | -9.25% |
Max Drawdown (1Y)Largest decline over 1 year | -4.34% | -11.65% | +7.31% |
Max Drawdown (3Y)Largest decline over 3 years | -10.08% | -15.81% | +5.73% |
Max Drawdown (5Y)Largest decline over 5 years | -18.48% | -34.25% | +15.77% |
Max Drawdown (10Y)Largest decline over 10 years | -51.47% | -42.22% | -9.25% |
Current DrawdownCurrent decline from peak | -0.32% | -4.26% | +3.94% |
Average DrawdownAverage peak-to-trough decline | -6.71% | -11.93% | +5.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 2.97% | -2.03% |
Volatility
ALTY vs. RFEM - Volatility Comparison
The current volatility for Global X Alternative Income ETF (ALTY) is 1.56%, while First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) has a volatility of 8.40%. This indicates that ALTY experiences smaller price fluctuations and is considered to be less risky than RFEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALTY | RFEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 8.40% | -6.84% |
Volatility (6M)Calculated over the trailing 6-month period | 4.54% | 15.94% | -11.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.90% | 18.14% | -12.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.57% | 18.15% | -7.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.55% | 19.85% | -3.30% |
ALTY vs. RFEM - Expense Ratio Comparison
ALTY has a 0.50% expense ratio, which is lower than RFEM's 0.95% expense ratio.
Dividends
ALTY vs. RFEM - Dividend Comparison
ALTY's dividend yield for the trailing twelve months is around 7.46%, more than RFEM's 1.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALTY Global X Alternative Income ETF | 7.46% | 7.50% | 7.88% | 7.31% | 7.66% | 6.88% | 9.20% | 8.74% | 8.49% | 7.52% | 8.20% | 4.21% |
RFEM First Trust RiverFront Dynamic Emerging Markets ETF | 1.73% | 1.98% | 3.64% | 3.28% | 7.74% | 3.21% | 1.22% | 3.75% | 2.37% | 1.62% | 3.73% | 0.00% |
Frequently Asked Questions
ALTY and RFEM have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RFEM has higher volatility (8.40%) compared to ALTY (1.56%). In terms of maximum drawdown, ALTY dropped -51.47% vs RFEM's -42.22%.
On 10-year performance, RFEM leads with 9.39% vs 6.15% for ALTY. On fees, ALTY is cheaper at 0.50% per year. On volatility, ALTY has been the lower-risk option at 1.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RFEM has performed better with a 9.39% return vs 6.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ALTY is cheaper with a 0.50% expense ratio, compared with 0.95% for RFEM.
ALTY has the higher dividend yield at 7.46%, compared with 1.73% for RFEM.
ALTY is categorized as Global Allocation, while RFEM is Emerging Markets Equities. They also come from different issuers: Global X and First Trust. Their fees differ too: 0.50% for ALTY and 0.95% for RFEM.
ALTY currently has the higher Sharpe Ratio (2.55 vs 2.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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