FDNI vs. EMGF

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Dow Jones International Internet ETF (FDNI) and iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF).

FDNI and EMGF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FDNI is a passively managed fund by First Trust that tracks the performance of the Dow Jones International Internet Index. It was launched on Nov 5, 2018. EMGF is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Diversified Multiple-Factor Index. It was launched on Dec 8, 2015. Both FDNI and EMGF 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

FDNI vs. EMGF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dow Jones International Internet ETF (FDNI) and iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF). The values are adjusted to include any dividend payments, if applicable.

FDNI vs. EMGF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FDNI First Trust Dow Jones International Internet ETF	-19.73%	25.64%	22.46%	1.78%	-38.38%	-20.59%	85.27%	38.38%	-8.95%
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF	4.46%	31.41%	9.06%	10.86%	-16.55%	6.65%	10.27%	20.96%	-6.97%

Returns By Period

In the year-to-date period, FDNI achieves a -19.73% return, which is significantly lower than EMGF's 4.46% return.

FDNI

• 1D: 3.52%
• 1M: -7.85%
• YTD: -19.73%
• 6M: -28.97%
• 1Y: -11.12%
• 3Y*: 4.72%
• 5Y*: -9.71%
• 10Y*: —

EMGF

• 1D: 3.78%
• 1M: -9.16%
• YTD: 4.46%
• 6M: 8.38%
• 1Y: 32.72%
• 3Y*: 17.94%
• 5Y*: 6.70%
• 10Y*: 8.81%

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

FDNI vs. EMGF - Expense Ratio Comparison

FDNI has a 0.65% expense ratio, which is higher than EMGF's 0.45% expense ratio.

FDNI

First Trust Dow Jones International Internet ETF

EMGF

iShares Edge MSCI Multifactor Emerging Markets ETF

Return for Risk

FDNI vs. EMGF — Risk / Return Rank

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

FDNI

FDNI Risk / Return Rank: 5
FDNI Sharpe Ratio Rank: 5
FDNI Sortino Ratio Rank: 5
FDNI Omega Ratio Rank: 5
FDNI Calmar Ratio Rank: 6
FDNI Martin Ratio Rank: 4

EMGF

EMGF Risk / Return Rank: 84
EMGF Sharpe Ratio Rank: 84
EMGF Sortino Ratio Rank: 85
EMGF Omega Ratio Rank: 84
EMGF Calmar Ratio Rank: 84
EMGF Martin Ratio Rank: 84

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.

FDNI vs. EMGF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dow Jones International Internet ETF (FDNI) and iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF). 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.

	FDNI	EMGF	Difference
Sharpe ratio Return per unit of total volatility	-0.42	1.65	-2.08
Sortino ratio Return per unit of downside risk	-0.44	2.23	-2.68
Omega ratio Gain probability vs. loss probability	0.95	1.32	-0.38
Calmar ratio Return relative to maximum drawdown	-0.35	2.40	-2.75
Martin ratio Return relative to average drawdown	-0.94	9.27	-10.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDNI vs. EMGF - Sharpe Ratio Comparison

The current FDNI Sharpe Ratio is -0.42, which is lower than the EMGF Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of FDNI and EMGF, 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

	FDNI	EMGF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.42	1.65	-2.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	0.39	-0.66
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.46	-0.32

Correlation

The correlation between FDNI and EMGF is 0.71, 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

FDNI vs. EMGF - Dividend Comparison

FDNI's dividend yield for the trailing twelve months is around 1.39%, less than EMGF's 2.41% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDNI First Trust Dow Jones International Internet ETF	1.39%	1.12%	1.07%	0.40%	0.00%	0.00%	0.16%	3.12%	0.00%	0.00%	0.00%
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF	2.41%	2.52%	3.42%	5.94%	4.04%	2.48%	1.95%	2.63%	2.73%	1.94%	2.04%

Drawdowns

FDNI vs. EMGF - Drawdown Comparison

The maximum FDNI drawdown since its inception was -71.08%, which is greater than EMGF's maximum drawdown of -40.23%. Use the drawdown chart below to compare losses from any high point for FDNI and EMGF.

Drawdown Indicators

	FDNI	EMGF	Difference
Max Drawdown Largest peak-to-trough decline	-71.08%	-40.23%	-30.85%
Max Drawdown (1Y) Largest decline over 1 year	-33.22%	-13.54%	-19.68%
Max Drawdown (5Y) Largest decline over 5 years	-65.88%	-28.60%	-37.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.23%	—
Current Drawdown Current decline from peak	-50.35%	-10.27%	-40.08%
Average Drawdown Average peak-to-trough decline	-34.21%	-10.19%	-24.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.51%	3.50%	+9.01%

Volatility

FDNI vs. EMGF - Volatility Comparison

The current volatility for First Trust Dow Jones International Internet ETF (FDNI) is 9.48%, while iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) has a volatility of 10.58%. This indicates that FDNI experiences smaller price fluctuations and is considered to be less risky than EMGF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDNI	EMGF	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.48%	10.58%	-1.10%
Volatility (6M) Calculated over the trailing 6-month period	17.60%	14.81%	+2.79%
Volatility (1Y) Calculated over the trailing 1-year period	26.30%	19.90%	+6.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.60%	17.08%	+19.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.72%	19.23%	+15.49%