EMCR vs. FEMKX

Last updated Jun 24, 2026

EMCR (Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF) and FEMKX (Fidelity Emerging Markets) are both Emerging Markets Equities funds. Over the past 5 years, EMCR returned 8.45%/yr vs 7.58%/yr for FEMKX. Their correlation of 0.90 suggests significant overlap in exposure. EMCR charges 0.15%/yr vs 0.88%/yr for FEMKX.

Performance

EMCR vs. FEMKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) and Fidelity Emerging Markets (FEMKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMCR achieves a 18.98% return, which is significantly lower than FEMKX's 28.98% return.

EMCR

• 1D: -5.03%
• 1M: 1.97%
• YTD: 18.98%
• 6M: 20.08%
• 1Y: 41.37%
• 3Y*: 22.29%
• 5Y*: 8.45%
• 10Y*: —

FEMKX

• 1D: 0.83%
• 1M: 8.03%
• YTD: 28.98%
• 6M: 30.23%
• 1Y: 55.93%
• 3Y*: 23.79%
• 5Y*: 7.58%
• 10Y*: 12.71%

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

EMCR vs. FEMKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	18.98%	33.25%	9.69%	10.55%	-18.73%	5.54%	13.49%	22.41%	-2.49%
FEMKX Fidelity Emerging Markets	28.98%	31.02%	7.12%	15.16%	-27.48%	1.25%	32.56%	33.67%	-3.54%

Correlation

The correlation between EMCR and FEMKX 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	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 6, 2018	0.90

The correlation between EMCR and FEMKX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

EMCR vs. FEMKX — Risk / Return Rank

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

EMCR

EMCR Risk / Return Rank: 62
EMCR Sharpe Ratio Rank: 61
EMCR Sortino Ratio Rank: 55
EMCR Omega Ratio Rank: 65
EMCR Calmar Ratio Rank: 64
EMCR Martin Ratio Rank: 65

FEMKX

FEMKX Risk / Return Rank: 84
FEMKX Sharpe Ratio Rank: 87
FEMKX Sortino Ratio Rank: 73
FEMKX Omega Ratio Rank: 81
FEMKX Calmar Ratio Rank: 90
FEMKX Martin Ratio Rank: 88

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.

EMCR vs. FEMKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) and Fidelity Emerging Markets (FEMKX). 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.

	EMCR	FEMKX	Difference
Sharpe ratio: Return per unit of total volatility	1.89	2.63	-0.73
Sortino ratio: Return per unit of downside risk	2.46	3.24	-0.78
Omega ratio: Gain probability vs. loss probability	1.36	1.49	-0.13
Calmar ratio: Return relative to maximum drawdown	3.00	4.36	-1.36
Martin ratio: Return relative to average drawdown	11.00	15.55	-4.55

EMCR vs. FEMKX - Sharpe Ratio Comparison

The current EMCR Sharpe Ratio is 1.89, which is comparable to the FEMKX Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of EMCR and FEMKX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EMCR vs. FEMKX - Drawdown Comparison

The maximum EMCR drawdown since its inception was -34.28%, smaller than the maximum FEMKX drawdown of -71.14%. Use the drawdown chart below to compare losses from any high point for EMCR and FEMKX.

Drawdown Indicators

	EMCR	FEMKX	Difference
Max Drawdown Largest peak-to-trough decline	-34.28%	-71.14%	+36.86%
Max Drawdown (1Y) Largest decline over 1 year	-13.84%	-13.00%	-0.84%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	-19.13%	+0.75%
Max Drawdown (5Y) Largest decline over 5 years	-34.28%	-40.88%	+6.60%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.24%	—
Current Drawdown Current decline from peak	-5.03%	0.00%	-5.03%
Average Drawdown Average peak-to-trough decline	-9.29%	-25.91%	+16.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.77%	3.64%	+0.13%

Volatility

EMCR vs. FEMKX - Volatility Comparison

Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) and Fidelity Emerging Markets (FEMKX) have volatilities of 11.58% and 11.80%, 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

	EMCR	FEMKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.58%	11.80%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	19.77%	19.26%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	21.97%	21.64%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.82%	19.49%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.14%	18.96%	+1.18%

EMCR vs. FEMKX - Expense Ratio Comparison

EMCR has a 0.15% expense ratio, which is lower than FEMKX's 0.88% expense ratio.

Dividends

EMCR vs. FEMKX - Dividend Comparison

EMCR's dividend yield for the trailing twelve months is around 1.47%, more than FEMKX's 0.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	1.47%	2.43%	6.62%	1.95%	3.05%	1.83%	1.75%	3.15%	0.19%	0.00%	0.00%	0.00%
FEMKX Fidelity Emerging Markets	0.04%	0.05%	0.65%	1.11%	0.77%	6.00%	1.39%	1.71%	0.83%	0.08%	0.67%	0.51%

Frequently Asked Questions

Can I hold both EMCR and FEMKX in my portfolio?

With a correlation of 0.92, EMCR and FEMKX 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, EMCR or FEMKX?

FEMKX has higher volatility (11.80%) compared to EMCR (11.58%). In terms of maximum drawdown, EMCR dropped -34.28% vs FEMKX's -71.14%.

Which has better risk-adjusted returns?

FEMKX currently has the higher Sharpe Ratio (2.63 vs 1.89), 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.