FDEM vs. DIEM

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Emerging Markets Multifactor ETF (FDEM) and Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM).

FDEM and DIEM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FDEM is a passively managed fund by Fidelity that tracks the performance of the Fidelity Targeted Emerging Markets Factor Index. It was launched on Feb 26, 2019. DIEM is a passively managed fund by Franklin Templeton that tracks the performance of the Morningstar Emerging Markets Dividend Enhanced Select Index. It was launched on Jun 1, 2016. Both FDEM and DIEM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FDEM vs. DIEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Emerging Markets Multifactor ETF (FDEM) and Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM). The values are adjusted to include any dividend payments, if applicable.

FDEM vs. DIEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FDEM Fidelity Emerging Markets Multifactor ETF	2.77%	26.75%	9.34%	17.26%	-13.11%	-3.52%	8.87%	5.73%
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	5.34%	30.81%	12.29%	15.41%	-20.61%	6.92%	1.27%	6.72%

Returns By Period

In the year-to-date period, FDEM achieves a 2.77% return, which is significantly lower than DIEM's 5.34% return.

FDEM

• 1D: 3.24%
• 1M: -8.84%
• YTD: 2.77%
• 6M: 6.29%
• 1Y: 27.87%
• 3Y*: 17.22%
• 5Y*: 6.52%
• 10Y*: —

DIEM

• 1D: 3.69%
• 1M: -8.22%
• YTD: 5.34%
• 6M: 11.28%
• 1Y: 34.56%
• 3Y*: 19.05%
• 5Y*: 7.59%
• 10Y*: —

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

FDEM vs. DIEM - Expense Ratio Comparison

FDEM has a 0.45% expense ratio, which is higher than DIEM's 0.19% expense ratio.

FDEM

Fidelity Emerging Markets Multifactor ETF

DIEM

Franklin Emerging Market Core Dividend Tilt Index ETF

Return for Risk

FDEM vs. DIEM — Risk / Return Rank

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

FDEM

FDEM Risk / Return Rank: 81
FDEM Sharpe Ratio Rank: 82
FDEM Sortino Ratio Rank: 83
FDEM Omega Ratio Rank: 81
FDEM Calmar Ratio Rank: 81
FDEM Martin Ratio Rank: 81

DIEM

DIEM Risk / Return Rank: 89
DIEM Sharpe Ratio Rank: 88
DIEM Sortino Ratio Rank: 89
DIEM Omega Ratio Rank: 90
DIEM Calmar Ratio Rank: 88
DIEM Martin Ratio Rank: 89

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.

FDEM vs. DIEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets Multifactor ETF (FDEM) and Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM). 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.

	FDEM	DIEM	Difference
Sharpe ratio Return per unit of total volatility	1.54	1.88	-0.34
Sortino ratio Return per unit of downside risk	2.11	2.51	-0.40
Omega ratio Gain probability vs. loss probability	1.30	1.38	-0.08
Calmar ratio Return relative to maximum drawdown	2.18	2.79	-0.61
Martin ratio Return relative to average drawdown	8.58	11.28	-2.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDEM vs. DIEM - Sharpe Ratio Comparison

The current FDEM Sharpe Ratio is 1.54, which is comparable to the DIEM Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of FDEM and DIEM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FDEM	DIEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.88	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.47	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.42	-0.02

Correlation

The correlation between FDEM and DIEM is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FDEM vs. DIEM - Dividend Comparison

FDEM's dividend yield for the trailing twelve months is around 3.17%, more than DIEM's 2.90% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDEM Fidelity Emerging Markets Multifactor ETF	3.17%	3.23%	4.05%	4.41%	3.95%	2.71%	1.84%	2.39%	0.00%	0.00%	0.00%
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	2.90%	2.99%	4.92%	4.45%	6.31%	4.06%	2.75%	5.98%	3.87%	2.61%	0.35%

Drawdowns

FDEM vs. DIEM - Drawdown Comparison

The maximum FDEM drawdown since its inception was -33.65%, smaller than the maximum DIEM drawdown of -38.61%. Use the drawdown chart below to compare losses from any high point for FDEM and DIEM.

Drawdown Indicators

	FDEM	DIEM	Difference
Max Drawdown Largest peak-to-trough decline	-33.65%	-38.61%	+4.96%
Max Drawdown (1Y) Largest decline over 1 year	-12.70%	-12.33%	-0.37%
Max Drawdown (5Y) Largest decline over 5 years	-29.19%	-33.34%	+4.15%
Current Drawdown Current decline from peak	-9.87%	-9.09%	-0.78%
Average Drawdown Average peak-to-trough decline	-9.00%	-9.86%	+0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	3.05%	+0.17%

Volatility

FDEM vs. DIEM - Volatility Comparison

Fidelity Emerging Markets Multifactor ETF (FDEM) and Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) have volatilities of 9.54% and 9.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDEM	DIEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.54%	9.47%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	13.16%	13.43%	-0.27%
Volatility (1Y) Calculated over the trailing 1-year period	18.15%	18.43%	-0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.77%	16.38%	-0.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.76%	17.41%	+0.35%