EMKT.AX vs. FEMX.AX
EMKT.AX (VanEck MSCI Multifactor Emerging Markets Equity ETF) and FEMX.AX (Fidelity Global Emerging Markets Active ETF) are both Emerging Markets Equities funds. EMKT.AX is passively managed, while FEMX.AX is actively managed. Over the past 5 years, EMKT.AX returned 15.12%/yr vs 4.18%/yr for FEMX.AX. A 0.60 correlation means they provide meaningful diversification when combined. EMKT.AX charges 0.69%/yr vs 0.99%/yr for FEMX.AX.
Performance
EMKT.AX vs. FEMX.AX - Performance Comparison
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Returns By Period
In the year-to-date period, EMKT.AX achieves a 26.61% return, which is significantly higher than FEMX.AX's 11.39% return.
EMKT.AX
- 1D
- -3.02%
- 1M
- -5.25%
- 6M
- 18.61%
- YTD
- 26.61%
- 1Y
- 37.00%
- 3Y*
- 25.77%
- 5Y*
- 15.12%
- 10Y*
- —
FEMX.AX
- 1D
- -0.95%
- 1M
- -2.39%
- 6M
- 6.05%
- YTD
- 11.39%
- 1Y
- 23.29%
- 3Y*
- 11.28%
- 5Y*
- 4.18%
- 10Y*
- —
EMKT.AX vs. FEMX.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMKT.AX VanEck MSCI Multifactor Emerging Markets Equity ETF | 26.61% | 21.60% | 25.43% | 18.32% | -10.53% | 12.71% | 0.07% | 21.05% | 1.47% |
FEMX.AX Fidelity Global Emerging Markets Active ETF | 11.39% | 16.71% | 9.78% | 3.33% | -17.16% | 11.03% | 13.98% | 35.02% | 4.25% |
Correlation
The correlation between EMKT.AX and FEMX.AX is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2018 | 0.60 |
The correlation between EMKT.AX and FEMX.AX shifts across timeframes, from 0.60 (3 years) to 0.70 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMKT.AX vs. FEMX.AX — Risk / Return Rank
EMKT.AX
FEMX.AX
EMKT.AX vs. FEMX.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck MSCI Multifactor Emerging Markets Equity ETF (EMKT.AX) and Fidelity Global Emerging Markets Active ETF (FEMX.AX). 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.
| EMKT.AX | FEMX.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.21 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 1.75 | +0.82 |
| Martin ratioReturn relative to average drawdown | 8.39 | 5.92 | +2.47 |
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Drawdowns
EMKT.AX vs. FEMX.AX - Drawdown Comparison
The maximum EMKT.AX drawdown since its inception was -23.26%, smaller than the maximum FEMX.AX drawdown of -27.88%. Use the drawdown chart below to compare losses from any high point for EMKT.AX and FEMX.AX.
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Drawdown Indicators
| EMKT.AX | FEMX.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.26% | -27.88% | +4.62% |
Max Drawdown (1Y)Largest decline over 1 year | -13.55% | -11.66% | -1.89% |
Max Drawdown (3Y)Largest decline over 3 years | -13.55% | -11.66% | -1.89% |
Max Drawdown (5Y)Largest decline over 5 years | -18.03% | -27.88% | +9.85% |
Current DrawdownCurrent decline from peak | -7.87% | -4.27% | -3.60% |
Average DrawdownAverage peak-to-trough decline | -5.78% | -9.01% | +3.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.23% | 3.51% | +0.72% |
Volatility
EMKT.AX vs. FEMX.AX - Volatility Comparison
VanEck MSCI Multifactor Emerging Markets Equity ETF (EMKT.AX) has a higher volatility of 11.32% compared to Fidelity Global Emerging Markets Active ETF (FEMX.AX) at 5.39%. This indicates that EMKT.AX's price experiences larger fluctuations and is considered to be riskier than FEMX.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMKT.AX | FEMX.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.32% | 5.39% | +5.93% |
Volatility (6M)Calculated over the trailing 6-month period | 22.45% | 16.84% | +5.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.92% | 18.67% | +5.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.21% | 16.50% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.18% | 16.88% | -0.70% |
EMKT.AX vs. FEMX.AX - Expense Ratio Comparison
EMKT.AX has a 0.69% expense ratio, which is lower than FEMX.AX's 0.99% expense ratio.
Dividends
EMKT.AX vs. FEMX.AX - Dividend Comparison
EMKT.AX's dividend yield for the trailing twelve months is around 13.38%, more than FEMX.AX's 9.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EMKT.AX VanEck MSCI Multifactor Emerging Markets Equity ETF | 13.38% | 2.92% | 2.48% | 5.28% | 4.20% | 1.67% | 2.40% | 1.41% | 0.52% |
FEMX.AX Fidelity Global Emerging Markets Active ETF | 9.60% | 1.53% | 3.38% | 0.72% | 1.66% | 0.45% | 0.00% | 0.82% | 0.00% |
Frequently Asked Questions
EMKT.AX and FEMX.AX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMKT.AX is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMKT.AX is cheaper with a 0.69% expense ratio, compared with 0.99% for FEMX.AX.
They also come from different issuers: VanEck and Fidelity. Their fees differ too: 0.69% for EMKT.AX and 0.99% for FEMX.AX.
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