FDLO vs. EEMV

Last updated Jun 9, 2026

FDLO (Fidelity Low Volatility Factor ETF) and EEMV (iShares MSCI Emerging Markets Min Vol Factor ETF) are both exchange-traded funds - FDLO is a Volatility Hedged Equity fund tracking the Fidelity U.S. Low Volatility Factor Index, while EEMV is a Asia Pacific Equities fund tracking the MSCI Emerging Markets Minimum Volatility Index. Both are passively managed. Over the past 5 years, FDLO returned 9.84%/yr vs 4.95%/yr for EEMV. A 0.57 correlation means they provide meaningful diversification when combined. FDLO charges 0.29%/yr vs 0.25%/yr for EEMV.

Performance

FDLO vs. EEMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Low Volatility Factor ETF (FDLO) and iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDLO achieves a 3.88% return, which is significantly lower than EEMV's 13.43% return.

FDLO

• 1D: -0.68%
• 1M: 0.03%
• YTD: 3.88%
• 6M: 3.86%
• 1Y: 13.32%
• 3Y*: 13.93%
• 5Y*: 9.84%
• 10Y*: —

EEMV

• 1D: 1.51%
• 1M: -1.16%
• YTD: 13.43%
• 6M: 14.40%
• 1Y: 20.63%
• 3Y*: 12.52%
• 5Y*: 4.95%
• 10Y*: 6.37%

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

FDLO vs. EEMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDLO Fidelity Low Volatility Factor ETF	3.88%	11.77%	16.06%	16.38%	-10.38%	24.00%	12.19%	31.10%	-0.26%	20.44%
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF	13.43%	13.45%	7.98%	7.75%	-13.94%	5.05%	6.90%	7.83%	-5.81%	27.28%

Correlation

The correlation between FDLO and EEMV is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since Sep 16, 2016	0.57

The correlation between FDLO and EEMV has been stable across timeframes, ranging from 0.51 to 0.57 - a consistent structural relationship.

FDLO vs. EEMV - Sectors Allocation Comparison

Sectors	FDLO	EEMV
Technology	33.8%	28.9%
Financial Services	12.1%	17.7%
Communication Services	10.8%	11.2%
Consumer Cyclical	10.1%	5.0%
Healthcare	9.7%	6.2%
Industrials	9.2%	6.7%
Consumer Defensive	4.7%	6.8%
Energy	3.2%	3.4%
Utilities	2.3%	4.6%
Real Estate	2.2%	0.5%
Basic Materials	1.7%	3.1%

Return for Risk

FDLO vs. EEMV — Risk / Return Rank

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

FDLO

FDLO Risk / Return Rank: 48
FDLO Sharpe Ratio Rank: 48
FDLO Sortino Ratio Rank: 49
FDLO Omega Ratio Rank: 47
FDLO Calmar Ratio Rank: 42
FDLO Martin Ratio Rank: 52

EEMV

EEMV Risk / Return Rank: 50
EEMV Sharpe Ratio Rank: 47
EEMV Sortino Ratio Rank: 45
EEMV Omega Ratio Rank: 53
EEMV Calmar Ratio Rank: 50
EEMV Martin Ratio Rank: 52

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.

FDLO vs. EEMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Low Volatility Factor ETF (FDLO) and iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV). 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.

	FDLO	EEMV	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.48	+0.04
Sortino ratio: Return per unit of downside risk	2.18	2.04	+0.13
Omega ratio: Gain probability vs. loss probability	1.27	1.30	-0.03
Calmar ratio: Return relative to maximum drawdown	1.87	2.25	-0.37
Martin ratio: Return relative to average drawdown	8.13	8.21	-0.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDLO vs. EEMV - Sharpe Ratio Comparison

The current FDLO Sharpe Ratio is 1.52, which is comparable to the EEMV Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of FDLO and EEMV, 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

	FDLO	EEMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	1.48	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.41	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.37	+0.45

Drawdowns

FDLO vs. EEMV - Drawdown Comparison

The maximum FDLO drawdown since its inception was -34.35%, which is greater than EEMV's maximum drawdown of -31.56%. Use the drawdown chart below to compare losses from any high point for FDLO and EEMV.

Drawdown Indicators

	FDLO	EEMV	Difference
Max Drawdown Largest peak-to-trough decline	-34.35%	-31.56%	-2.79%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-9.22%	+2.09%
Max Drawdown (3Y) Largest decline over 3 years	-13.68%	-12.47%	-1.21%
Max Drawdown (5Y) Largest decline over 5 years	-19.23%	-21.90%	+2.67%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.56%	—
Current Drawdown Current decline from peak	-1.97%	-4.70%	+2.73%
Average Drawdown Average peak-to-trough decline	-3.38%	-7.97%	+4.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	2.52%	-0.88%

Volatility

FDLO vs. EEMV - Volatility Comparison

The current volatility for Fidelity Low Volatility Factor ETF (FDLO) is 2.17%, while iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) has a volatility of 7.37%. This indicates that FDLO experiences smaller price fluctuations and is considered to be less risky than EEMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDLO	EEMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.17%	7.37%	-5.20%
Volatility (6M) Calculated over the trailing 6-month period	6.50%	12.79%	-6.29%
Volatility (1Y) Calculated over the trailing 1-year period	8.80%	14.01%	-5.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.07%	12.06%	+1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.50%	13.94%	+1.56%

FDLO vs. EEMV - Expense Ratio Comparison

FDLO has a 0.29% expense ratio, which is higher than EEMV's 0.25% expense ratio.

Dividends

FDLO vs. EEMV - Dividend Comparison

FDLO's dividend yield for the trailing twelve months is around 1.38%, less than EEMV's 2.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF	2.33%	2.65%	3.50%	2.75%	1.93%	2.14%	2.45%	2.63%	2.46%	2.34%	2.79%	2.55%
FDLO Fidelity Low Volatility Factor ETF	1.38%	1.37%	1.40%	1.35%	1.49%	1.11%	1.38%	1.55%	1.76%	1.61%	0.55%	0.00%

Frequently Asked Questions

Can I hold both FDLO and EEMV in my portfolio?

FDLO and EEMV have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDLO or EEMV?

EEMV has higher volatility (7.37%) compared to FDLO (2.17%). In terms of maximum drawdown, FDLO dropped -34.35% vs EEMV's -31.56%.

Which ETF is better, FDLO or EEMV?

On 5-year performance, FDLO leads with 9.84% vs 4.95% for EEMV. On fees, EEMV is cheaper at 0.25% per year. On volatility, FDLO has been the lower-risk option at 2.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDLO or EEMV?

Over the 5-year period, FDLO has performed better with a 9.84% return vs 4.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDLO or EEMV?

EEMV is cheaper with a 0.25% expense ratio, compared with 0.29% for FDLO.

Which ETF pays a higher dividend yield, FDLO or EEMV?

EEMV has the higher dividend yield at 2.33%, compared with 1.38% for FDLO.

What is the main difference between FDLO and EEMV?

FDLO is categorized as Volatility Hedged Equity, while EEMV is Asia Pacific Equities. FDLO tracks Fidelity U.S. Low Volatility Factor Index, while EEMV tracks MSCI Emerging Markets Minimum Volatility Index. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.29% for FDLO and 0.25% for EEMV.

Which has better risk-adjusted returns?

FDLO currently has the higher Sharpe Ratio (1.52 vs 1.48), 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.