EMMF vs. FNDE

Last updated Jun 3, 2026

EMMF (WisdomTree Emerging Markets Multifactor Fund) and FNDE (Schwab Fundamental Emerging Markets Large Company Index ETF) are both exchange-traded funds - EMMF is a Asia Pacific Equities fund actively managed by WisdomTree, while FNDE is a Emerging Markets Equities fund tracking the Russell Fundamental Emerging Markets Large Company Index. EMMF is actively managed, while FNDE is passively managed. Over the past 5 years, EMMF returned 11.18%/yr vs 10.18%/yr for FNDE. Their correlation of 0.85 suggests significant overlap in exposure. EMMF charges 0.48%/yr vs 0.39%/yr for FNDE.

Performance

EMMF vs. FNDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets Multifactor Fund (EMMF) and Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMMF achieves a 29.25% return, which is significantly higher than FNDE's 17.44% return.

EMMF

• 1D: -0.25%
• 1M: 12.42%
• YTD: 29.25%
• 6M: 30.61%
• 1Y: 50.65%
• 3Y*: 24.40%
• 5Y*: 11.18%
• 10Y*: —

FNDE

• 1D: 1.63%
• 1M: 4.16%
• YTD: 17.44%
• 6M: 18.33%
• 1Y: 39.87%
• 3Y*: 22.27%
• 5Y*: 10.18%
• 10Y*: 11.46%

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

EMMF vs. FNDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EMMF WisdomTree Emerging Markets Multifactor Fund	29.25%	21.22%	9.45%	20.59%	-13.47%	5.97%	9.25%	2.30%	-6.64%
FNDE Schwab Fundamental Emerging Markets Large Company Index ETF	17.44%	29.46%	12.10%	14.99%	-15.58%	14.41%	-2.77%	19.75%	-4.85%

Correlation

The correlation between EMMF and FNDE 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	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Aug 13, 2018	0.85

The correlation between EMMF and FNDE has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

EMMF vs. FNDE - Sectors Allocation Comparison

Sectors	EMMF	FNDE
Technology	32.9%	18.7%
Consumer Cyclical	14.0%	9.5%
Financial Services	8.2%	23.8%
Communication Services	6.6%	6.6%
Consumer Defensive	4.4%	3.1%
Industrials	3.8%	4.7%
Energy	2.1%	15.5%
Utilities	2.0%	2.5%
Basic Materials	1.9%	13.6%
Healthcare	0.3%	0.5%
Real Estate	-	1.5%

Return for Risk

EMMF vs. FNDE — Risk / Return Rank

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

EMMF

EMMF Risk / Return Rank: 88
EMMF Sharpe Ratio Rank: 89
EMMF Sortino Ratio Rank: 87
EMMF Omega Ratio Rank: 90
EMMF Calmar Ratio Rank: 85
EMMF Martin Ratio Rank: 88

FNDE

FNDE Risk / Return Rank: 79
FNDE Sharpe Ratio Rank: 81
FNDE Sortino Ratio Rank: 78
FNDE Omega Ratio Rank: 81
FNDE Calmar Ratio Rank: 77
FNDE Martin Ratio Rank: 77

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.

EMMF vs. FNDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Multifactor Fund (EMMF) and Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE). 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.

	EMMF	FNDE	Difference
Sharpe ratio Return per unit of total volatility	3.08	2.69	+0.39
Sortino ratio Return per unit of downside risk	4.02	3.54	+0.48
Omega ratio Gain probability vs. loss probability	1.59	1.49	+0.10
Calmar ratio Return relative to maximum drawdown	4.79	3.97	+0.82
Martin ratio Return relative to average drawdown	19.83	15.08	+4.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMMF vs. FNDE - Sharpe Ratio Comparison

The current EMMF Sharpe Ratio is 3.08, which is comparable to the FNDE Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of EMMF and FNDE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EMMF	FNDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.08	2.69	+0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.61	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.38	+0.17

Drawdowns

EMMF vs. FNDE - Drawdown Comparison

The maximum EMMF drawdown since its inception was -32.57%, smaller than the maximum FNDE drawdown of -43.55%. Use the drawdown chart below to compare losses from any high point for EMMF and FNDE.

Drawdown Indicators

	EMMF	FNDE	Difference
Max Drawdown Largest peak-to-trough decline	-32.57%	-43.55%	+10.98%
Max Drawdown (1Y) Largest decline over 1 year	-10.62%	-10.23%	-0.39%
Max Drawdown (3Y) Largest decline over 3 years	-16.02%	-18.40%	+2.38%
Max Drawdown (5Y) Largest decline over 5 years	-24.99%	-29.44%	+4.45%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.93%	—
Current Drawdown Current decline from peak	-0.25%	0.00%	-0.25%
Average Drawdown Average peak-to-trough decline	-7.45%	-11.71%	+4.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	2.69%	-0.12%

Volatility

EMMF vs. FNDE - Volatility Comparison

WisdomTree Emerging Markets Multifactor Fund (EMMF) has a higher volatility of 7.08% compared to Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE) at 5.08%. This indicates that EMMF's price experiences larger fluctuations and is considered to be riskier than FNDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMMF	FNDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.08%	5.08%	+2.00%
Volatility (6M) Calculated over the trailing 6-month period	14.42%	12.18%	+2.24%
Volatility (1Y) Calculated over the trailing 1-year period	16.53%	14.90%	+1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.38%	16.90%	-2.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.62%	19.30%	-2.68%

EMMF vs. FNDE - Expense Ratio Comparison

EMMF has a 0.48% expense ratio, which is higher than FNDE's 0.39% expense ratio.

Dividends

EMMF vs. FNDE - Dividend Comparison

EMMF's dividend yield for the trailing twelve months is around 1.83%, less than FNDE's 3.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMMF WisdomTree Emerging Markets Multifactor Fund	1.83%	2.45%	1.30%	1.62%	3.48%	2.64%	1.93%	2.93%	0.66%	0.00%	0.00%	0.00%
FNDE Schwab Fundamental Emerging Markets Large Company Index ETF	3.56%	4.19%	4.82%	4.74%	5.59%	4.32%	2.50%	3.47%	2.98%	2.05%	1.65%	2.02%

Frequently Asked Questions

Can I hold both EMMF and FNDE in my portfolio?

EMMF and FNDE 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.

Which is riskier, EMMF or FNDE?

EMMF has higher volatility (7.08%) compared to FNDE (5.08%). In terms of maximum drawdown, EMMF dropped -32.57% vs FNDE's -43.55%.

Which ETF is better, EMMF or FNDE?

On 5-year performance, EMMF leads with 11.18% vs 10.18% for FNDE. On fees, FNDE is cheaper at 0.39% per year. On volatility, FNDE has been the lower-risk option at 5.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMMF or FNDE?

Over the 5-year period, EMMF has performed better with a 11.18% return vs 10.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMMF or FNDE?

FNDE is cheaper with a 0.39% expense ratio, compared with 0.48% for EMMF.

Which ETF pays a higher dividend yield, EMMF or FNDE?

FNDE has the higher dividend yield at 3.56%, compared with 1.83% for EMMF.

What is the main difference between EMMF and FNDE?

EMMF is categorized as Asia Pacific Equities, while FNDE is Emerging Markets Equities. They also come from different issuers: WisdomTree and Charles Schwab. Their fees differ too: 0.48% for EMMF and 0.39% for FNDE.

Which has better risk-adjusted returns?

EMMF currently has the higher Sharpe Ratio (3.08 vs 2.69), 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.