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EMCS vs. FEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMCS vs. FEM

Last updated Apr 18, 2026

EMCS (Xtrackers MSCI Emerging Markets Climate Selection ETF) and FEM (First Trust Emerging Markets AlphaDEX Fund) are both Emerging Markets Equities funds — EMCS tracks the MSCI Emerging Markets Climate Select Index while FEM tracks the NASDAQ AlphaDEX EM Index. Both are passively managed. Over the past 5 years, EMCS returned 5.58%/yr vs 8.47%/yr for FEM. A 0.79 correlation means they provide meaningful diversification when combined. EMCS charges 0.15%/yr vs 0.80%/yr for FEM.

Performance

EMCS vs. FEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) and First Trust Emerging Markets AlphaDEX Fund (FEM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EMCS achieves a 16.91% return, which is significantly lower than FEM's 20.65% return.

EMCS

1D
1.64%
1M
9.89%
YTD
16.91%
6M
19.82%
1Y
59.45%
3Y*
21.53%
5Y*
5.58%
10Y*
—

FEM

1D
1.50%
1M
11.25%
YTD
20.65%
6M
26.10%
1Y
55.86%
3Y*
18.91%
5Y*
8.47%
10Y*
9.29%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMCS vs. FEM - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
EMCS
Xtrackers MSCI Emerging Markets Climate Selection ETF		16.91%38.71%10.12%5.68%-23.58%-2.02%19.72%19.54%-0.59%
FEM
First Trust Emerging Markets AlphaDEX Fund		20.65%28.36%3.01%10.84%-14.24%7.40%-1.68%20.55%-3.14%

Correlation

The correlation between EMCS and FEM is 0.74, 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

0.74

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (5Y)
Calculated over the trailing 5-year period

0.77

Correlation (All Time)
Calculated using the full available price history since Dec 7, 2018

0.79

The correlation between EMCS and FEM has been stable across timeframes, ranging from 0.74 to 0.79 — a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Xtrackers MSCI Emerging Markets Climate Selection ETF

First Trust Emerging Markets AlphaDEX Fund

Often compared with EMCS:
EMCS vs. SNPDEMCS vs. BHYBEMCS vs. EVLUEMCS vs. EDIVEMCS vs. SCHEEMCS vs. EDOGEMCS vs. EMDV
Often compared with FEM:
FEM vs. FPADXFEM vs. RFEMFEM vs. VWOFEM vs. IQQE.DEFEM vs. AVEMFEM vs. FDEMFEM vs. SPEM

Return for Risk

EMCS vs. FEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMCS
EMCS Risk / Return Rank: 7575
Overall Rank
EMCS Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
EMCS Sortino Ratio Rank: 7272
Sortino Ratio Rank
EMCS Omega Ratio Rank: 7979
Omega Ratio Rank
EMCS Calmar Ratio Rank: 7171
Calmar Ratio Rank
EMCS Martin Ratio Rank: 7474
Martin Ratio Rank
FEM
FEM Risk / Return Rank: 8989
Overall Rank
FEM Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
FEM Sortino Ratio Rank: 8484
Sortino Ratio Rank
FEM Omega Ratio Rank: 8888
Omega Ratio Rank
FEM Calmar Ratio Rank: 9090
Calmar Ratio Rank
FEM Martin Ratio Rank: 9292
Martin Ratio Rank
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.

EMCS vs. FEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) and First Trust Emerging Markets AlphaDEX Fund (FEM). 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.

EMCSFEMDifference

Sharpe ratio

Return per unit of total volatility

2.95

3.44

-0.49

Sortino ratio

Return per unit of downside risk

3.79

4.20

-0.41

Omega ratio

Gain probability vs. loss probability

1.54

1.62

-0.07

Calmar ratio

Return relative to maximum drawdown

4.10

6.03

-1.93

Martin ratio

Return relative to average drawdown

16.15

24.39

-8.24

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMCS vs. FEM - Sharpe Ratio Comparison

The current EMCS Sharpe Ratio is 2.95, which is comparable to the FEM Sharpe Ratio of 3.44. The chart below compares the historical Sharpe Ratios of EMCS and FEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

EMCSFEMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.95

3.44

-0.49

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.28

0.47

-0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.44

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.19

+0.27

Drawdowns

EMCS vs. FEM - Drawdown Comparison

The maximum EMCS drawdown since its inception was -44.86%, roughly equal to the maximum FEM drawdown of -46.23%. Use the drawdown chart below to compare losses from any high point for EMCS and FEM.

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Drawdown Indicators

EMCSFEMDifference

Max Drawdown

Largest peak-to-trough decline

-44.86%

-46.23%

+1.37%

Max Drawdown (1Y)

Largest decline over 1 year

-14.32%

-9.31%

-5.01%

Max Drawdown (5Y)

Largest decline over 5 years

-42.06%

-31.72%

-10.34%

Max Drawdown (10Y)

Largest decline over 10 years

—

-46.23%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-16.87%

-15.16%

-1.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.64%

2.30%

+1.34%

Volatility

EMCS vs. FEM - Volatility Comparison

Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) has a higher volatility of 10.12% compared to First Trust Emerging Markets AlphaDEX Fund (FEM) at 7.67%. This indicates that EMCS's price experiences larger fluctuations and is considered to be riskier than FEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMCSFEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.12%

7.67%

+2.45%

Volatility (6M)

Calculated over the trailing 6-month period

17.09%

13.42%

+3.67%

Volatility (1Y)

Calculated over the trailing 1-year period

20.37%

16.41%

+3.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.22%

18.29%

+1.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.45%

20.95%

+0.50%

EMCS vs. FEM - Expense Ratio Comparison

EMCS has a 0.15% expense ratio, which is lower than FEM's 0.80% expense ratio.

Dividends

EMCS vs. FEM - Dividend Comparison

EMCS's dividend yield for the trailing twelve months is around 1.42%, less than FEM's 2.58% yield.

TTM20252024202320222021202020192018201720162015
EMCS
Xtrackers MSCI Emerging Markets Climate Selection ETF		1.42%1.66%0.67%3.07%2.26%1.46%1.40%3.56%0.00%0.00%0.00%0.00%
FEM
First Trust Emerging Markets AlphaDEX Fund		2.58%3.13%3.66%4.96%6.15%4.15%2.68%3.31%3.52%2.45%2.25%3.61%