EMDM vs. FDTS
EMDM (First Trust Bloomberg Emerging Market Democracies ETF) and FDTS (First Trust Developed Markets ex-US Small Cap 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 FDTS is a Foreign Small & Mid Cap Equities fund tracking the NASDAQ AlphaDEX DM Ex-US Small Cap Index. Both are passively managed. Over the past 3 years, EMDM returned 30.34%/yr vs 24.70%/yr for FDTS. A 0.73 correlation means they provide meaningful diversification when combined. EMDM charges 0.75%/yr vs 0.80%/yr for FDTS.
Performance
EMDM vs. FDTS - Performance Comparison
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Returns By Period
In the year-to-date period, EMDM achieves a 36.28% return, which is significantly higher than FDTS's 18.78% return.
EMDM
- 1D
- 0.70%
- 1M
- 6.11%
- YTD
- 36.28%
- 6M
- 42.03%
- 1Y
- 83.08%
- 3Y*
- 30.34%
- 5Y*
- —
- 10Y*
- —
FDTS
- 1D
- -0.17%
- 1M
- -2.15%
- YTD
- 18.78%
- 6M
- 20.77%
- 1Y
- 44.72%
- 3Y*
- 24.70%
- 5Y*
- 10.78%
- 10Y*
- 10.96%
EMDM vs. FDTS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EMDM First Trust Bloomberg Emerging Market Democracies ETF | 36.28% | 59.68% | -4.93% | 14.75% |
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund | 18.78% | 51.17% | 2.44% | 3.58% |
Correlation
The correlation between EMDM and FDTS is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2023 | 0.73 |
The correlation between EMDM and FDTS has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.
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Return for Risk
EMDM vs. FDTS — Risk / Return Rank
EMDM
FDTS
EMDM vs. FDTS - 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 Small Cap AlphaDEX Fund (FDTS). 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 | FDTS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.42 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 5.18 | 3.43 | +1.75 |
| Martin ratioReturn relative to average drawdown | 20.59 | 11.78 | +8.81 |
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Drawdowns
EMDM vs. FDTS - Drawdown Comparison
The maximum EMDM drawdown since its inception was -18.81%, smaller than the maximum FDTS drawdown of -51.26%. Use the drawdown chart below to compare losses from any high point for EMDM and FDTS.
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Drawdown Indicators
| EMDM | FDTS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.81% | -51.26% | +32.45% |
Max Drawdown (1Y)Largest decline over 1 year | -15.65% | -12.61% | -3.04% |
Max Drawdown (3Y)Largest decline over 3 years | -18.81% | -13.19% | -5.62% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -51.26% | — |
Current DrawdownCurrent decline from peak | -3.27% | -4.77% | +1.50% |
Average DrawdownAverage peak-to-trough decline | -4.08% | -10.64% | +6.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.93% | 3.66% | +0.27% |
Volatility
EMDM vs. FDTS - Volatility Comparison
First Trust Bloomberg Emerging Market Democracies ETF (EMDM) has a higher volatility of 12.16% compared to First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS) at 8.44%. This indicates that EMDM's price experiences larger fluctuations and is considered to be riskier than FDTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMDM | FDTS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.16% | 8.44% | +3.72% |
Volatility (6M)Calculated over the trailing 6-month period | 22.86% | 15.54% | +7.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.23% | 18.27% | +6.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.36% | 29.42% | -9.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.36% | 24.92% | -4.56% |
EMDM vs. FDTS - Expense Ratio Comparison
EMDM has a 0.75% expense ratio, which is lower than FDTS's 0.80% expense ratio.
Dividends
EMDM vs. FDTS - Dividend Comparison
EMDM's dividend yield for the trailing twelve months is around 2.62%, more than FDTS's 2.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMDM First Trust Bloomberg Emerging Market Democracies ETF | 2.62% | 3.57% | 5.87% | 2.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund | 2.53% | 2.94% | 3.94% | 2.90% | 3.71% | 3.01% | 2.02% | 2.30% | 1.96% | 2.08% | 1.78% | 1.73% |
Frequently Asked Questions
EMDM and FDTS have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMDM has higher volatility (12.16%) compared to FDTS (8.44%). In terms of maximum drawdown, EMDM dropped -18.81% vs FDTS's -51.26%.
On 3-year performance, EMDM leads with 30.34% vs 24.70% for FDTS. On fees, EMDM is cheaper at 0.75% per year. On volatility, FDTS has been the lower-risk option at 8.44%. 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 30.34% return vs 24.70%. 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 FDTS.
EMDM has the higher dividend yield at 2.62%, compared with 2.53% for FDTS.
EMDM is categorized as Emerging Markets Diversified, while FDTS is Foreign Small & Mid Cap Equities. EMDM tracks Bloomberg Emerging Market Democracies Index - Benchmark TR Net, while FDTS tracks NASDAQ AlphaDEX DM Ex-US Small Cap Index. Their fees differ too: 0.75% for EMDM and 0.80% for FDTS.
EMDM currently has the higher Sharpe Ratio (3.21 vs 2.37), 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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