EEMO vs. FNDE

Last updated Jun 5, 2026

EEMO (Invesco S&P Emerging Markets Momentum ETF) and FNDE (Schwab Fundamental Emerging Markets Large Company Index ETF) are both exchange-traded funds - EEMO is a Momentum fund tracking the S&P Momentum Emerging Plus LargeMidCap Index, while FNDE is a Emerging Markets Equities fund tracking the Russell Fundamental Emerging Markets Large Company Index. Both are passively managed. Over the past 10 years, EEMO returned 8.50%/yr vs 11.11%/yr for FNDE. A 0.68 correlation means they provide meaningful diversification when combined. EEMO charges 0.31%/yr vs 0.39%/yr for FNDE.

Performance

EEMO vs. FNDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Emerging Markets Momentum ETF (EEMO) and Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EEMO achieves a 36.85% return, which is significantly higher than FNDE's 15.11% return. Over the past 10 years, EEMO has underperformed FNDE with an annualized return of 8.50%, while FNDE has yielded a comparatively higher 11.11% annualized return.

EEMO

• 1D: -2.42%
• 1M: 10.83%
• YTD: 36.85%
• 6M: 37.37%
• 1Y: 51.13%
• 3Y*: 24.00%
• 5Y*: 6.67%
• 10Y*: 8.50%

FNDE

• 1D: -0.38%
• 1M: 1.39%
• YTD: 15.11%
• 6M: 15.70%
• 1Y: 35.50%
• 3Y*: 21.46%
• 5Y*: 9.49%
• 10Y*: 11.11%

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

EEMO vs. FNDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEMO Invesco S&P Emerging Markets Momentum ETF	36.85%	10.99%	9.88%	13.90%	-18.73%	-5.57%	9.66%	21.17%	-17.24%	49.65%
FNDE Schwab Fundamental Emerging Markets Large Company Index ETF	15.11%	29.46%	12.10%	14.99%	-15.58%	14.41%	-2.77%	19.75%	-10.37%	26.77%

Correlation

The correlation between EEMO and FNDE is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Aug 16, 2013	0.68

The correlation between EEMO and FNDE shifts across timeframes, from 0.68 (all time) to 0.82 (1 year), reflecting how their relationship changes across market environments.

EEMO vs. FNDE - Sectors Allocation Comparison

Sectors	EEMO	FNDE
Technology	43.8%	18.7%
Financial Services	18.0%	23.8%
Basic Materials	12.9%	13.6%
Industrials	11.5%	4.7%
Consumer Cyclical	3.2%	9.5%
Healthcare	3.0%	0.5%
Energy	2.5%	15.5%
Utilities	2.0%	2.5%
Communication Services	1.5%	6.6%
Consumer Defensive	1.2%	3.1%
Real Estate	0.5%	1.5%

Return for Risk

EEMO vs. FNDE — Risk / Return Rank

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

EEMO

EEMO Risk / Return Rank: 69
EEMO Sharpe Ratio Rank: 64
EEMO Sortino Ratio Rank: 65
EEMO Omega Ratio Rank: 71
EEMO Calmar Ratio Rank: 71
EEMO Martin Ratio Rank: 75

FNDE

FNDE Risk / Return Rank: 72
FNDE Sharpe Ratio Rank: 74
FNDE Sortino Ratio Rank: 71
FNDE Omega Ratio Rank: 74
FNDE Calmar Ratio Rank: 71
FNDE Martin Ratio Rank: 72

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.

EEMO vs. FNDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Emerging Markets Momentum ETF (EEMO) and Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE). 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.

	EEMO	FNDE	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.38	-0.28
Sortino ratio: Return per unit of downside risk	2.97	3.17	-0.21
Omega ratio: Gain probability vs. loss probability	1.42	1.43	-0.02
Calmar ratio: Return relative to maximum drawdown	3.48	3.49	-0.01
Martin ratio: Return relative to average drawdown	13.93	13.19	+0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EEMO vs. FNDE - Sharpe Ratio Comparison

The current EEMO Sharpe Ratio is 2.09, which is comparable to the FNDE Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of EEMO and FNDE, 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

	EEMO	FNDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	2.38	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.56	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.58	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.37	-0.25

Drawdowns

EEMO vs. FNDE - Drawdown Comparison

The maximum EEMO drawdown since its inception was -48.47%, which is greater than FNDE's maximum drawdown of -43.55%. Use the drawdown chart below to compare losses from any high point for EEMO and FNDE.

Drawdown Indicators

	EEMO	FNDE	Difference
Max Drawdown Largest peak-to-trough decline	-48.47%	-43.55%	-4.92%
Max Drawdown (1Y) Largest decline over 1 year	-14.75%	-10.23%	-4.52%
Max Drawdown (3Y) Largest decline over 3 years	-26.06%	-18.40%	-7.66%
Max Drawdown (5Y) Largest decline over 5 years	-34.03%	-29.44%	-4.59%
Max Drawdown (10Y) Largest decline over 10 years	-46.57%	-39.93%	-6.64%
Current Drawdown Current decline from peak	-3.71%	-1.98%	-1.73%
Average Drawdown Average peak-to-trough decline	-20.17%	-11.71%	-8.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	2.70%	+0.98%

Volatility

EEMO vs. FNDE - Volatility Comparison

Invesco S&P Emerging Markets Momentum ETF (EEMO) has a higher volatility of 14.18% compared to Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE) at 5.23%. This indicates that EEMO's price experiences larger fluctuations and is considered to be riskier than FNDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMO	FNDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.18%	5.23%	+8.95%
Volatility (6M) Calculated over the trailing 6-month period	22.26%	12.31%	+9.95%
Volatility (1Y) Calculated over the trailing 1-year period	24.58%	15.00%	+9.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.36%	16.91%	+2.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.59%	19.30%	+2.29%

EEMO vs. FNDE - Expense Ratio Comparison

EEMO has a 0.31% expense ratio, which is lower than FNDE's 0.39% expense ratio.

Dividends

EEMO vs. FNDE - Dividend Comparison

EEMO's dividend yield for the trailing twelve months is around 1.68%, less than FNDE's 3.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMO Invesco S&P Emerging Markets Momentum ETF	1.68%	2.31%	2.57%	3.65%	3.82%	1.51%	1.53%	2.13%	13.10%	5.13%	1.55%	2.92%
FNDE Schwab Fundamental Emerging Markets Large Company Index ETF	3.64%	4.19%	4.82%	4.74%	5.59%	4.32%	2.50%	3.47%	2.98%	2.05%	1.65%	2.02%

Frequently Asked Questions

Can I hold both EEMO and FNDE in my portfolio?

EEMO and FNDE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EEMO or FNDE?

EEMO has higher volatility (14.18%) compared to FNDE (5.23%). In terms of maximum drawdown, EEMO dropped -48.47% vs FNDE's -43.55%.

Which ETF is better, EEMO or FNDE?

On 10-year performance, FNDE leads with 11.11% vs 8.50% for EEMO. On fees, EEMO is cheaper at 0.31% per year. On volatility, FNDE has been the lower-risk option at 5.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEMO or FNDE?

Over the 10-year period, FNDE has performed better with a 11.11% return vs 8.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEMO or FNDE?

EEMO is cheaper with a 0.31% expense ratio, compared with 0.39% for FNDE.

Which ETF pays a higher dividend yield, EEMO or FNDE?

FNDE has the higher dividend yield at 3.64%, compared with 1.68% for EEMO.

What is the main difference between EEMO and FNDE?

EEMO is categorized as Momentum, while FNDE is Emerging Markets Equities. EEMO tracks S&P Momentum Emerging Plus LargeMidCap Index, while FNDE tracks Russell Fundamental Emerging Markets Large Company Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.31% for EEMO and 0.39% for FNDE.

Which has better risk-adjusted returns?

FNDE currently has the higher Sharpe Ratio (2.38 vs 2.09), 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.