FDEM vs. USDU
FDEM (Fidelity Emerging Markets Multifactor ETF) and USDU (WisdomTree Bloomberg U.S. Dollar Bullish Fund) are both exchange-traded funds - FDEM is a Emerging Markets Equities fund tracking the Fidelity Targeted Emerging Markets Factor Index, while USDU is a Currency fund actively managed by WisdomTree. FDEM is passively managed, while USDU is actively managed. Over the past 5 years, FDEM returned 8.79%/yr vs 5.39%/yr for USDU. Their -0.42 correlation means they have often moved in opposite directions in the past. FDEM charges 0.45%/yr vs 0.51%/yr for USDU.
Performance
FDEM vs. USDU - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FDEM achieves a 12.88% return, which is significantly higher than USDU's 3.95% return.
FDEM
- 1D
- -1.75%
- 1M
- -4.23%
- 6M
- 4.99%
- YTD
- 12.88%
- 1Y
- 23.52%
- 3Y*
- 18.50%
- 5Y*
- 8.79%
- 10Y*
- —
- ALL TIME*
- 8.00%
USDU
- 1D
- 0.07%
- 1M
- 0.30%
- 6M
- 4.77%
- YTD
- 3.95%
- 1Y
- 6.83%
- 3Y*
- 5.77%
- 5Y*
- 5.39%
- 10Y*
- 2.77%
- ALL TIME*
- 3.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.35M | $2.36M | $4.29M | |
| $4.99M | $9.10M | $8.59M |
FDEM vs. USDU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FDEM Fidelity Emerging Markets Multifactor ETF | 12.88% | 26.75% | 9.34% | 17.26% | -13.11% | -3.52% | 8.87% | 5.60% |
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 3.95% | -3.14% | 14.56% | 3.10% | 7.67% | 4.07% | -5.43% | 1.95% |
Correlation
The correlation between FDEM and USDU is -0.44, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.44 |
Correlation (3Y) Balances recent behavior with more history. | -0.44 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.48 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2019 | -0.42 |
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
FDEM vs. USDU — Risk / Return Rank
FDEM
USDU
FDEM vs. USDU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets Multifactor ETF (FDEM) and WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU). 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.
| FDEM | USDU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.24 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 1.99 | -0.17 |
| Martin ratioReturn relative to average drawdown | 5.93 | 5.54 | +0.39 |
Loading charts...
Drawdowns
FDEM vs. USDU - Drawdown Comparison
The maximum FDEM drawdown since its inception was -33.65%, which is greater than USDU's maximum drawdown of -14.54%. Use the drawdown chart below to compare losses from any high point for FDEM and USDU.
Loading charts...
Drawdown Indicators
| FDEM | USDU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.65% | -14.54% | -19.11% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -3.64% | -9.06% |
Max Drawdown (3Y)Largest decline over 3 years | -16.04% | -7.73% | -8.31% |
Max Drawdown (5Y)Largest decline over 5 years | -25.82% | -9.28% | -16.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.54% | — |
Current DrawdownCurrent decline from peak | -9.26% | -0.28% | -8.98% |
Average DrawdownAverage peak-to-trough decline | -8.77% | -4.68% | -4.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.90% | 1.30% | +2.60% |
Volatility
FDEM vs. USDU - Volatility Comparison
Fidelity Emerging Markets Multifactor ETF (FDEM) has a higher volatility of 6.79% compared to WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) at 0.93%. This indicates that FDEM's price experiences larger fluctuations and is considered to be riskier than USDU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FDEM | USDU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.79% | 0.93% | +5.86% |
Volatility (6M)Calculated over the trailing 6-month period | 18.94% | 4.30% | +14.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.77% | 5.56% | +15.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.90% | 6.59% | +10.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.29% | 7.41% | +10.88% |
FDEM vs. USDU - Expense Ratio Comparison
FDEM has a 0.45% expense ratio, which is lower than USDU's 0.51% expense ratio.
Dividends
FDEM vs. USDU - Dividend Comparison
FDEM's dividend yield for the trailing twelve months is around 3.10%, less than USDU's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDEM Fidelity Emerging Markets Multifactor ETF | 3.10% | 3.23% | 4.05% | 4.41% | 3.95% | 2.71% | 1.84% | 2.39% | 0.00% | 0.00% | 0.00% | 0.00% |
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 3.69% | 3.83% | 3.97% | 6.99% | 7.83% | 0.00% | 0.69% | 3.06% | 0.88% | 0.00% | 0.00% | 6.48% |
Frequently Asked Questions
FDEM and USDU have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDEM has higher volatility (6.79%) compared to USDU (0.93%). In terms of maximum drawdown, FDEM dropped -33.65% vs USDU's -14.54%.
On 5-year performance, FDEM leads with 8.79% vs 5.39% for USDU. On fees, FDEM is cheaper at 0.45% per year. On volatility, USDU has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FDEM has performed better with a 8.79% return vs 5.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDEM is cheaper with a 0.45% expense ratio, compared with 0.51% for USDU.
USDU has the higher dividend yield at 3.69%, compared with 3.10% for FDEM.
FDEM is categorized as Emerging Markets Equities, while USDU is Currency. They also come from different issuers: Fidelity and WisdomTree. Their fees differ too: 0.45% for FDEM and 0.51% for USDU.
USDU currently has the higher Sharpe Ratio (1.30 vs 1.11), 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 FDEM and USDU
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