FDEM vs. FIDI
FDEM (Fidelity Emerging Markets Multifactor ETF) and FIDI (Fidelity International High Dividend ETF) are both exchange-traded funds - FDEM is a Emerging Markets Equities fund tracking the Fidelity Targeted Emerging Markets Factor Index, while FIDI is a Foreign Large Cap Equities fund tracking the Fidelity® International High Dividend Index. Both are passively managed. Over the past 5 years, FDEM returned 9.43%/yr vs 10.43%/yr for FIDI. A 0.66 correlation means they provide meaningful diversification when combined. FDEM charges 0.45%/yr vs 0.39%/yr for FIDI.
Performance
FDEM vs. FIDI - Performance Comparison
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Returns By Period
In the year-to-date period, FDEM achieves a 22.58% return, which is significantly higher than FIDI's 8.93% return.
FDEM
- 1D
- -1.46%
- 1M
- 7.69%
- YTD
- 22.58%
- 6M
- 24.26%
- 1Y
- 45.52%
- 3Y*
- 23.79%
- 5Y*
- 9.43%
- 10Y*
- —
FIDI
- 1D
- -0.57%
- 1M
- 0.38%
- YTD
- 8.93%
- 6M
- 12.21%
- 1Y
- 25.24%
- 3Y*
- 19.10%
- 5Y*
- 10.43%
- 10Y*
- —
FDEM vs. FIDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FDEM Fidelity Emerging Markets Multifactor ETF | 22.58% | 26.75% | 9.34% | 17.26% | -13.11% | -3.52% | 8.87% | 5.73% |
FIDI Fidelity International High Dividend ETF | 8.93% | 39.34% | -0.06% | 16.28% | -4.73% | 16.87% | -11.68% | 5.44% |
Correlation
The correlation between FDEM and FIDI is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2019 | 0.66 |
The correlation between FDEM and FIDI has been stable across timeframes, ranging from 0.59 to 0.66 - a consistent structural relationship.
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Return for Risk
FDEM vs. FIDI — Risk / Return Rank
FDEM
FIDI
FDEM vs. FIDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets Multifactor ETF (FDEM) and Fidelity International High Dividend ETF (FIDI). 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 | FIDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.39 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 3.65 | -0.04 |
| Martin ratioReturn relative to average drawdown | 14.12 | 13.04 | +1.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FDEM | FIDI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.63 | 2.19 | +0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.71 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.31 | +0.22 |
Drawdowns
FDEM vs. FIDI - Drawdown Comparison
The maximum FDEM drawdown since its inception was -33.65%, smaller than the maximum FIDI drawdown of -46.34%. Use the drawdown chart below to compare losses from any high point for FDEM and FIDI.
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Drawdown Indicators
| FDEM | FIDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.65% | -46.34% | +12.69% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -6.96% | -5.74% |
Max Drawdown (3Y)Largest decline over 3 years | -16.04% | -12.09% | -3.95% |
Max Drawdown (5Y)Largest decline over 5 years | -29.02% | -26.05% | -2.97% |
Current DrawdownCurrent decline from peak | -1.46% | -2.24% | +0.78% |
Average DrawdownAverage peak-to-trough decline | -8.84% | -9.79% | +0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 1.94% | +1.29% |
Volatility
FDEM vs. FIDI - Volatility Comparison
Fidelity Emerging Markets Multifactor ETF (FDEM) has a higher volatility of 7.26% compared to Fidelity International High Dividend ETF (FIDI) at 3.09%. This indicates that FDEM's price experiences larger fluctuations and is considered to be riskier than FIDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDEM | FIDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.26% | 3.09% | +4.17% |
Volatility (6M)Calculated over the trailing 6-month period | 15.03% | 9.00% | +6.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.36% | 11.60% | +5.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 14.84% | +1.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.91% | 18.73% | -0.82% |
FDEM vs. FIDI - Expense Ratio Comparison
FDEM has a 0.45% expense ratio, which is higher than FIDI's 0.39% expense ratio.
Dividends
FDEM vs. FIDI - Dividend Comparison
FDEM's dividend yield for the trailing twelve months is around 2.66%, less than FIDI's 4.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FDEM Fidelity Emerging Markets Multifactor ETF | 2.66% | 3.23% | 4.05% | 4.41% | 3.95% | 2.71% | 1.84% | 2.39% | 0.00% |
FIDI Fidelity International High Dividend ETF | 4.13% | 4.33% | 5.72% | 4.80% | 5.09% | 4.00% | 3.36% | 4.26% | 4.37% |
Frequently Asked Questions
FDEM and FIDI have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDEM has higher volatility (7.26%) compared to FIDI (3.09%). In terms of maximum drawdown, FDEM dropped -33.65% vs FIDI's -46.34%.
On 5-year performance, FIDI leads with 10.43% vs 9.43% for FDEM. On fees, FIDI is cheaper at 0.39% per year. On volatility, FIDI has been the lower-risk option at 3.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FIDI has performed better with a 10.43% return vs 9.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FIDI is cheaper with a 0.39% expense ratio, compared with 0.45% for FDEM.
FIDI has the higher dividend yield at 4.13%, compared with 2.66% for FDEM.
FDEM is categorized as Emerging Markets Equities, while FIDI is Foreign Large Cap Equities. FDEM tracks Fidelity Targeted Emerging Markets Factor Index, while FIDI tracks Fidelity® International High Dividend Index. Their fees differ too: 0.45% for FDEM and 0.39% for FIDI.
FDEM currently has the higher Sharpe Ratio (2.63 vs 2.19), 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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