DIEM vs. FDEM
DIEM (Franklin Emerging Market Core Dividend Tilt Index ETF) and FDEM (Fidelity Emerging Markets Multifactor ETF) are both exchange-traded funds - DIEM is a Emerging Markets Diversified fund tracking the Morningstar Emerging Markets Dividend Enhanced Select Index, while FDEM is a Emerging Markets Equities fund tracking the Fidelity Targeted Emerging Markets Factor Index. Both are passively managed. Over the past 5 years, DIEM returned 12.89%/yr vs 10.15%/yr for FDEM. Their correlation of 0.90 suggests significant overlap in exposure. DIEM charges 0.19%/yr vs 0.45%/yr for FDEM.
Performance
DIEM vs. FDEM - Performance Comparison
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Returns By Period
In the year-to-date period, DIEM achieves a 36.64% return, which is significantly higher than FDEM's 24.40% return.
DIEM
- 1D
- 0.57%
- 1M
- 10.28%
- YTD
- 36.64%
- 6M
- 37.93%
- 1Y
- 62.49%
- 3Y*
- 29.44%
- 5Y*
- 12.89%
- 10Y*
- 9.83%
FDEM
- 1D
- 0.51%
- 1M
- 6.72%
- YTD
- 24.40%
- 6M
- 25.99%
- 1Y
- 45.23%
- 3Y*
- 24.48%
- 5Y*
- 10.15%
- 10Y*
- —
DIEM vs. FDEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF | 36.64% | 30.81% | 12.29% | 15.41% | -20.61% | 6.92% | 1.27% | 5.40% |
FDEM Fidelity Emerging Markets Multifactor ETF | 24.40% | 26.75% | 9.34% | 17.26% | -13.11% | -3.52% | 8.87% | 5.60% |
Correlation
The correlation between DIEM and FDEM is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2019 | 0.90 |
The correlation between DIEM and FDEM has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
DIEM vs. FDEM — Risk / Return Rank
DIEM
FDEM
DIEM vs. FDEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) and Fidelity Emerging Markets Multifactor ETF (FDEM). 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.
| DIEM | FDEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.44 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 5.09 | 3.58 | +1.51 |
| Martin ratioReturn relative to average drawdown | 19.83 | 13.46 | +6.37 |
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Drawdowns
DIEM vs. FDEM - Drawdown Comparison
The maximum DIEM drawdown since its inception was -38.61%, which is greater than FDEM's maximum drawdown of -33.65%. Use the drawdown chart below to compare losses from any high point for DIEM and FDEM.
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Drawdown Indicators
| DIEM | FDEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.61% | -33.65% | -4.96% |
Max Drawdown (1Y)Largest decline over 1 year | -12.33% | -12.70% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -16.82% | -16.04% | -0.78% |
Max Drawdown (5Y)Largest decline over 5 years | -33.34% | -28.47% | -4.87% |
Max Drawdown (10Y)Largest decline over 10 years | -38.61% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.01% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -9.69% | -8.80% | -0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.16% | 3.37% | -0.21% |
Volatility
DIEM vs. FDEM - Volatility Comparison
Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) has a higher volatility of 10.87% compared to Fidelity Emerging Markets Multifactor ETF (FDEM) at 9.83%. This indicates that DIEM's price experiences larger fluctuations and is considered to be riskier than FDEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DIEM | FDEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.87% | 9.83% | +1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 18.49% | 17.25% | +1.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.38% | 19.19% | +1.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.44% | 16.57% | +0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.84% | 18.13% | -0.29% |
DIEM vs. FDEM - Expense Ratio Comparison
DIEM has a 0.19% expense ratio, which is lower than FDEM's 0.45% expense ratio.
Dividends
DIEM vs. FDEM - Dividend Comparison
DIEM's dividend yield for the trailing twelve months is around 1.55%, less than FDEM's 2.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF | 1.55% | 2.99% | 4.92% | 4.45% | 6.31% | 4.06% | 2.75% | 5.98% | 3.87% | 2.61% | 0.35% |
FDEM Fidelity Emerging Markets Multifactor ETF | 2.81% | 3.23% | 4.05% | 4.41% | 3.95% | 2.71% | 1.84% | 2.39% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, DIEM and FDEM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
DIEM has higher volatility (10.87%) compared to FDEM (9.83%). In terms of maximum drawdown, DIEM dropped -38.61% vs FDEM's -33.65%.
On 5-year performance, DIEM leads with 12.89% vs 10.15% for FDEM. On fees, DIEM is cheaper at 0.19% per year. On volatility, FDEM has been the lower-risk option at 9.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DIEM has performed better with a 12.89% return vs 10.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIEM is cheaper with a 0.19% expense ratio, compared with 0.45% for FDEM.
FDEM has the higher dividend yield at 2.81%, compared with 1.55% for DIEM.
DIEM is categorized as Emerging Markets Diversified, while FDEM is Emerging Markets Equities. DIEM tracks Morningstar Emerging Markets Dividend Enhanced Select Index, while FDEM tracks Fidelity Targeted Emerging Markets Factor Index. They also come from different issuers: Franklin Templeton and Fidelity. Their fees differ too: 0.19% for DIEM and 0.45% for FDEM.
DIEM currently has the higher Sharpe Ratio (3.09 vs 2.37), 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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