AVEG.L vs. FFEM
AVEG.L (Avantis Emerging Markets Equity UCITS ETF USD Acc) and FFEM (Fidelity Fundamental Emerging Markets ETF) are both Emerging Markets Diversified funds. Over the past year, AVEG.L returned 49.71% vs 69.67% for FFEM. A 0.72 correlation means they provide meaningful diversification when combined. AVEG.L charges 0.35%/yr vs 0.60%/yr for FFEM.
Performance
AVEG.L vs. FFEM - Performance Comparison
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Different Trading Currencies
AVEG.L is traded in GBP, while FFEM is traded in USD. To make them comparable, the FFEM values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, AVEG.L achieves a 23.87% return, which is significantly lower than FFEM's 33.56% return.
AVEG.L
- 1D
- -0.72%
- 1M
- 9.71%
- YTD
- 23.87%
- 6M
- 26.10%
- 1Y
- 49.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FFEM
- 1D
- -1.30%
- 1M
- 10.62%
- YTD
- 33.56%
- 6M
- 35.99%
- 1Y
- 69.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AVEG.L vs. FFEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AVEG.L Avantis Emerging Markets Equity UCITS ETF USD Acc | 23.87% | 21.10% |
FFEM Fidelity Fundamental Emerging Markets ETF | 33.56% | 25.01% |
Correlation
The correlation between AVEG.L and FFEM is 0.77, 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 | 0.77 |
Correlation (All Time) Calculated using the full available price history since Mar 25, 2025 | 0.72 |
The correlation between AVEG.L and FFEM has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.
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Return for Risk
AVEG.L vs. FFEM — Risk / Return Rank
AVEG.L
FFEM
AVEG.L vs. FFEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Equity UCITS ETF USD Acc (AVEG.L) and Fidelity Fundamental Emerging Markets ETF (FFEM). 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.
| AVEG.L | FFEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.67 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.63 | 6.30 | -1.67 |
| Martin ratioReturn relative to average drawdown | 16.76 | 23.80 | -7.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AVEG.L | FFEM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.07 | 3.61 | -0.54 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.37 | 2.10 | +0.27 |
Drawdowns
AVEG.L vs. FFEM - Drawdown Comparison
The maximum AVEG.L drawdown since its inception was -12.92%, smaller than the maximum FFEM drawdown of -16.24%. Use the drawdown chart below to compare losses from any high point for AVEG.L and FFEM.
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Drawdown Indicators
| AVEG.L | FFEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.92% | -16.24% | +3.32% |
Max Drawdown (1Y)Largest decline over 1 year | -10.68% | -11.12% | +0.44% |
Current DrawdownCurrent decline from peak | -0.72% | -1.30% | +0.58% |
Average DrawdownAverage peak-to-trough decline | -1.99% | -2.42% | +0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 2.94% | +0.02% |
Volatility
AVEG.L vs. FFEM - Volatility Comparison
The current volatility for Avantis Emerging Markets Equity UCITS ETF USD Acc (AVEG.L) is 6.78%, while Fidelity Fundamental Emerging Markets ETF (FFEM) has a volatility of 8.18%. This indicates that AVEG.L experiences smaller price fluctuations and is considered to be less risky than FFEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVEG.L | FFEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.78% | 8.18% | -1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 13.56% | 16.85% | -3.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.13% | 19.41% | -3.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 20.26% | -3.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 20.26% | -3.14% |
AVEG.L vs. FFEM - Expense Ratio Comparison
AVEG.L has a 0.35% expense ratio, which is lower than FFEM's 0.60% expense ratio.
Dividends
AVEG.L vs. FFEM - Dividend Comparison
AVEG.L has not paid dividends to shareholders, while FFEM's dividend yield for the trailing twelve months is around 1.22%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
AVEG.L Avantis Emerging Markets Equity UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% |
FFEM Fidelity Fundamental Emerging Markets ETF | 1.22% | 1.59% | 0.16% |
Frequently Asked Questions
AVEG.L and FFEM have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AVEG.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AVEG.L is cheaper with a 0.35% expense ratio, compared with 0.60% for FFEM.
They also come from different issuers: Avantis and Fidelity. Their fees differ too: 0.35% for AVEG.L and 0.60% for FFEM.
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