EMDM vs. FDT
EMDM (First Trust Bloomberg Emerging Market Democracies ETF) and FDT (First Trust Developed Markets ex-US AlphaDEX Fund) are both exchange-traded funds - EMDM is a Emerging Markets Diversified fund tracking the Bloomberg Emerging Market Democracies Index - Benchmark TR Net, while FDT is a Foreign Large Cap Equities fund tracking the NASDAQ AlphaDEX DM Ex-US Index. Both are passively managed. Over the past 3 years, EMDM returned 30.82%/yr vs 28.02%/yr for FDT. A 0.78 correlation means they provide meaningful diversification when combined. EMDM charges 0.75%/yr vs 0.80%/yr for FDT.
Performance
EMDM vs. FDT - Performance Comparison
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Returns By Period
In the year-to-date period, EMDM achieves a 35.53% return, which is significantly higher than FDT's 20.49% return.
EMDM
- 1D
- -5.54%
- 1M
- 3.57%
- YTD
- 35.53%
- 6M
- 38.16%
- 1Y
- 81.79%
- 3Y*
- 30.82%
- 5Y*
- —
- 10Y*
- —
FDT
- 1D
- -4.44%
- 1M
- -1.74%
- YTD
- 20.49%
- 6M
- 19.93%
- 1Y
- 46.20%
- 3Y*
- 28.02%
- 5Y*
- 12.26%
- 10Y*
- 11.13%
EMDM vs. FDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EMDM First Trust Bloomberg Emerging Market Democracies ETF | 35.53% | 59.68% | -4.93% | 14.75% |
FDT First Trust Developed Markets ex-US AlphaDEX Fund | 20.49% | 52.21% | 6.97% | 7.56% |
Correlation
The correlation between EMDM and FDT is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2023 | 0.78 |
The correlation between EMDM and FDT has been stable across timeframes, ranging from 0.78 to 0.85 - a consistent structural relationship.
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Return for Risk
EMDM vs. FDT — Risk / Return Rank
EMDM
FDT
EMDM vs. FDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Bloomberg Emerging Market Democracies ETF (EMDM) and First Trust Developed Markets ex-US AlphaDEX Fund (FDT). 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.
| EMDM | FDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.42 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 5.25 | 3.46 | +1.79 |
| Martin ratioReturn relative to average drawdown | 20.82 | 13.03 | +7.79 |
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Drawdowns
EMDM vs. FDT - Drawdown Comparison
The maximum EMDM drawdown since its inception was -18.81%, smaller than the maximum FDT drawdown of -46.10%. Use the drawdown chart below to compare losses from any high point for EMDM and FDT.
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Drawdown Indicators
| EMDM | FDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.81% | -46.10% | +27.29% |
Max Drawdown (1Y)Largest decline over 1 year | -15.65% | -13.41% | -2.24% |
Max Drawdown (3Y)Largest decline over 3 years | -18.81% | -14.29% | -4.52% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.10% | — |
Current DrawdownCurrent decline from peak | -5.54% | -5.52% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -4.06% | -10.75% | +6.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.94% | 3.56% | +0.38% |
Volatility
EMDM vs. FDT - Volatility Comparison
First Trust Bloomberg Emerging Market Democracies ETF (EMDM) has a higher volatility of 13.23% compared to First Trust Developed Markets ex-US AlphaDEX Fund (FDT) at 9.79%. This indicates that EMDM's price experiences larger fluctuations and is considered to be riskier than FDT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMDM | FDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.23% | 9.79% | +3.44% |
Volatility (6M)Calculated over the trailing 6-month period | 23.83% | 18.03% | +5.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.11% | 20.21% | +5.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.67% | 18.58% | +2.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.67% | 18.54% | +2.13% |
EMDM vs. FDT - Expense Ratio Comparison
EMDM has a 0.75% expense ratio, which is lower than FDT's 0.80% expense ratio.
Dividends
EMDM vs. FDT - Dividend Comparison
EMDM's dividend yield for the trailing twelve months is around 2.63%, less than FDT's 2.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMDM First Trust Bloomberg Emerging Market Democracies ETF | 2.63% | 3.57% | 5.87% | 2.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FDT First Trust Developed Markets ex-US AlphaDEX Fund | 2.96% | 3.27% | 3.89% | 4.36% | 2.29% | 3.80% | 2.42% | 2.78% | 2.13% | 1.57% | 1.76% | 1.83% |
Frequently Asked Questions
EMDM and FDT have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMDM has higher volatility (13.23%) compared to FDT (9.79%). In terms of maximum drawdown, EMDM dropped -18.81% vs FDT's -46.10%.
On 3-year performance, EMDM leads with 30.82% vs 28.02% for FDT. On fees, EMDM is cheaper at 0.75% per year. On volatility, FDT has been the lower-risk option at 9.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EMDM has performed better with a 30.82% return vs 28.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMDM is cheaper with a 0.75% expense ratio, compared with 0.80% for FDT.
FDT has the higher dividend yield at 2.96%, compared with 2.63% for EMDM.
EMDM is categorized as Emerging Markets Diversified, while FDT is Foreign Large Cap Equities. EMDM tracks Bloomberg Emerging Market Democracies Index - Benchmark TR Net, while FDT tracks NASDAQ AlphaDEX DM Ex-US Index. Their fees differ too: 0.75% for EMDM and 0.80% for FDT.
EMDM currently has the higher Sharpe Ratio (3.15 vs 2.30), 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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