FCA vs. EMDM
FCA (First Trust China AlphaDEX Fund) and EMDM (First Trust Bloomberg Emerging Market Democracies ETF) are both exchange-traded funds - FCA is a China Equities fund tracking the NASDAQ AlphaDEX China Index, while EMDM is a Emerging Markets Diversified fund tracking the Bloomberg Emerging Market Democracies Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, FCA returned 19.12%/yr vs 30.82%/yr for EMDM. At a 0.45 correlation, their price movements are largely independent. FCA charges 0.80%/yr vs 0.75%/yr for EMDM.
Performance
FCA vs. EMDM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FCA achieves a 3.82% return, which is significantly lower than EMDM's 35.53% return.
FCA
- 1D
- -2.20%
- 1M
- -6.29%
- YTD
- 3.82%
- 6M
- 2.03%
- 1Y
- 28.89%
- 3Y*
- 19.12%
- 5Y*
- 3.23%
- 10Y*
- 9.27%
EMDM
- 1D
- -5.54%
- 1M
- 3.57%
- YTD
- 35.53%
- 6M
- 38.16%
- 1Y
- 81.79%
- 3Y*
- 30.82%
- 5Y*
- —
- 10Y*
- —
FCA vs. EMDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FCA First Trust China AlphaDEX Fund | 3.82% | 45.20% | 14.07% | -15.06% |
EMDM First Trust Bloomberg Emerging Market Democracies ETF | 35.53% | 59.68% | -4.93% | 14.75% |
Correlation
The correlation between FCA and EMDM is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2023 | 0.45 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FCA vs. EMDM — Risk / Return Rank
FCA
EMDM
FCA vs. EMDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust China AlphaDEX Fund (FCA) and First Trust Bloomberg Emerging Market Democracies ETF (EMDM). 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.
| FCA | EMDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.54 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 5.25 | -3.45 |
| Martin ratioReturn relative to average drawdown | 5.93 | 20.82 | -14.89 |
Loading charts...
Drawdowns
FCA vs. EMDM - Drawdown Comparison
The maximum FCA drawdown since its inception was -45.56%, which is greater than EMDM's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for FCA and EMDM.
Loading charts...
Drawdown Indicators
| FCA | EMDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -18.81% | -26.75% |
Max Drawdown (1Y)Largest decline over 1 year | -16.07% | -15.65% | -0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -26.13% | -18.81% | -7.32% |
Max Drawdown (5Y)Largest decline over 5 years | -42.47% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.47% | — | — |
Current DrawdownCurrent decline from peak | -15.17% | -5.54% | -9.63% |
Average DrawdownAverage peak-to-trough decline | -21.61% | -4.06% | -17.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.88% | 3.94% | +0.94% |
Volatility
FCA vs. EMDM - Volatility Comparison
The current volatility for First Trust China AlphaDEX Fund (FCA) is 7.95%, while First Trust Bloomberg Emerging Market Democracies ETF (EMDM) has a volatility of 13.23%. This indicates that FCA experiences smaller price fluctuations and is considered to be less risky than EMDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FCA | EMDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.95% | 13.23% | -5.28% |
Volatility (6M)Calculated over the trailing 6-month period | 17.58% | 23.83% | -6.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.00% | 26.11% | -3.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.72% | 20.67% | +7.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.69% | 20.67% | +6.02% |
FCA vs. EMDM - Expense Ratio Comparison
FCA has a 0.80% expense ratio, which is higher than EMDM's 0.75% expense ratio.
Dividends
FCA vs. EMDM - Dividend Comparison
FCA's dividend yield for the trailing twelve months is around 2.48%, less than EMDM's 2.63% 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% |
FCA First Trust China AlphaDEX Fund | 2.48% | 2.67% | 5.17% | 5.70% | 6.00% | 4.91% | 4.12% | 3.73% | 3.10% | 2.30% | 2.51% | 4.13% |
Frequently Asked Questions
FCA and EMDM have a correlation of 0.38, 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 FCA (7.95%). In terms of maximum drawdown, FCA dropped -45.56% vs EMDM's -18.81%.
On 3-year performance, EMDM leads with 30.82% vs 19.12% for FCA. On fees, EMDM is cheaper at 0.75% per year. On volatility, FCA has been the lower-risk option at 7.95%. 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 19.12%. 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 FCA.
EMDM has the higher dividend yield at 2.63%, compared with 2.48% for FCA.
FCA is categorized as China Equities, while EMDM is Emerging Markets Diversified. FCA tracks NASDAQ AlphaDEX China Index, while EMDM tracks Bloomberg Emerging Market Democracies Index - Benchmark TR Net. Their fees differ too: 0.80% for FCA and 0.75% for EMDM.
EMDM currently has the higher Sharpe Ratio (3.15 vs 1.26), 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.
Find the right allocation for FCA and EMDM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer