DIEM vs. FEMR

Last updated Jun 4, 2026

DIEM (Franklin Emerging Market Core Dividend Tilt Index ETF) and FEMR (Fidelity Enhanced Emerging Markets ETF) are both Emerging Markets Diversified funds. DIEM is passively managed, while FEMR is actively managed. Over the past year, DIEM returned 60.54% vs 64.21% for FEMR. Their correlation of 0.93 suggests significant overlap in exposure. DIEM charges 0.19%/yr vs 0.38%/yr for FEMR.

Performance

DIEM vs. FEMR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) and Fidelity Enhanced Emerging Markets ETF (FEMR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIEM achieves a 32.78% return, which is significantly lower than FEMR's 34.71% return.

DIEM

• 1D: -1.37%
• 1M: 12.08%
• YTD: 32.78%
• 6M: 35.57%
• 1Y: 60.54%
• 3Y*: 28.35%
• 5Y*: 11.49%
• 10Y*: —

FEMR

• 1D: -0.41%
• 1M: 11.47%
• YTD: 34.71%
• 6M: 39.19%
• 1Y: 64.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DIEM vs. FEMR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	32.78%	30.81%	-0.71%
FEMR Fidelity Enhanced Emerging Markets ETF	34.71%	35.27%	-1.49%

Correlation

The correlation between DIEM and FEMR 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 (All Time) Calculated using the full available price history since Nov 22, 2024	0.93

The correlation between DIEM and FEMR has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

DIEM vs. FEMR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DIEM

DIEM Risk / Return Rank: 90
DIEM Sharpe Ratio Rank: 92
DIEM Sortino Ratio Rank: 90
DIEM Omega Ratio Rank: 92
DIEM Calmar Ratio Rank: 87
DIEM Martin Ratio Rank: 89

FEMR

FEMR Risk / Return Rank: 86
FEMR Sharpe Ratio Rank: 89
FEMR Sortino Ratio Rank: 85
FEMR Omega Ratio Rank: 88
FEMR Calmar Ratio Rank: 84
FEMR Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DIEM vs. FEMR - 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 Enhanced Emerging Markets ETF (FEMR). 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.

	DIEM	FEMR	Difference
Sharpe ratio: Return per unit of total volatility	3.35	3.05	+0.30
Sortino ratio: Return per unit of downside risk	4.26	3.85	+0.40
Omega ratio: Gain probability vs. loss probability	1.62	1.56	+0.06
Calmar ratio: Return relative to maximum drawdown	4.93	4.46	+0.47
Martin ratio: Return relative to average drawdown	20.34	17.85	+2.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIEM vs. FEMR - Sharpe Ratio Comparison

The current DIEM Sharpe Ratio is 3.35, which is comparable to the FEMR Sharpe Ratio of 3.05. The chart below compares the historical Sharpe Ratios of DIEM and FEMR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DIEM	FEMR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.35	3.05	+0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	2.22	-1.68

Drawdowns

DIEM vs. FEMR - Drawdown Comparison

The maximum DIEM drawdown since its inception was -38.61%, which is greater than FEMR's maximum drawdown of -15.58%. Use the drawdown chart below to compare losses from any high point for DIEM and FEMR.

Drawdown Indicators

	DIEM	FEMR	Difference
Max Drawdown Largest peak-to-trough decline	-38.61%	-15.58%	-23.03%
Max Drawdown (1Y) Largest decline over 1 year	-12.33%	-14.47%	+2.14%
Max Drawdown (3Y) Largest decline over 3 years	-16.82%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.34%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.61%	—	—
Current Drawdown Current decline from peak	-1.37%	-0.41%	-0.96%
Average Drawdown Average peak-to-trough decline	-9.72%	-2.31%	-7.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	3.61%	-0.62%

Volatility

DIEM vs. FEMR - Volatility Comparison

Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) and Fidelity Enhanced Emerging Markets ETF (FEMR) have volatilities of 8.52% and 8.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIEM	FEMR	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.52%	8.63%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	15.91%	18.52%	-2.61%
Volatility (1Y) Calculated over the trailing 1-year period	18.17%	21.17%	-3.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.93%	21.28%	-4.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.59%	21.28%	-3.69%

DIEM vs. FEMR - Expense Ratio Comparison

DIEM has a 0.19% expense ratio, which is lower than FEMR's 0.38% expense ratio.

Dividends

DIEM vs. FEMR - Dividend Comparison

DIEM's dividend yield for the trailing twelve months is around 2.30%, more than FEMR's 1.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	2.30%	2.99%	4.92%	4.45%	6.31%	4.06%	2.75%	5.98%	3.87%	2.61%	0.35%
FEMR Fidelity Enhanced Emerging Markets ETF	1.39%	1.92%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIEM and FEMR in my portfolio?

With a correlation of 0.92, DIEM and FEMR 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.

Which is riskier, DIEM or FEMR?

FEMR has higher volatility (8.63%) compared to DIEM (8.52%). In terms of maximum drawdown, DIEM dropped -38.61% vs FEMR's -15.58%.

Which ETF is better, DIEM or FEMR?

On 1-year performance, FEMR leads with 64.21% vs 60.54% for DIEM. On fees, DIEM is cheaper at 0.19% per year. On volatility, DIEM has been the lower-risk option at 8.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIEM or FEMR?

Over the 1-year period, FEMR has performed better with a 64.21% return vs 60.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIEM or FEMR?

DIEM is cheaper with a 0.19% expense ratio, compared with 0.38% for FEMR.

Which ETF pays a higher dividend yield, DIEM or FEMR?

DIEM has the higher dividend yield at 2.30%, compared with 1.39% for FEMR.

What is the main difference between DIEM and FEMR?

They also come from different issuers: Franklin Templeton and Fidelity. Their fees differ too: 0.19% for DIEM and 0.38% for FEMR.

Which has better risk-adjusted returns?

DIEM currently has the higher Sharpe Ratio (3.35 vs 3.05), 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.