FDT vs. MEMX
FDT (First Trust Developed Markets ex-US AlphaDEX Fund) and MEMX (Matthews Emerging Markets Ex China Active ETF) are both exchange-traded funds - FDT is a Foreign Large Cap Equities fund tracking the NASDAQ AlphaDEX DM Ex-US Index, while MEMX is a Emerging Markets Diversified fund actively managed by Matthews. FDT is passively managed, while MEMX is actively managed. Over the past 3 years, FDT returned 27.84%/yr vs 24.90%/yr for MEMX. A 0.76 correlation means they provide meaningful diversification when combined. FDT charges 0.80%/yr vs 0.79%/yr for MEMX.
Performance
FDT vs. MEMX - Performance Comparison
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Returns By Period
In the year-to-date period, FDT achieves a 23.23% return, which is significantly lower than MEMX's 29.81% return.
FDT
- 1D
- 0.21%
- 1M
- 0.87%
- YTD
- 23.23%
- 6M
- 24.33%
- 1Y
- 50.01%
- 3Y*
- 27.84%
- 5Y*
- 12.16%
- 10Y*
- 11.17%
MEMX
- 1D
- 0.55%
- 1M
- 5.01%
- YTD
- 29.81%
- 6M
- 38.48%
- 1Y
- 63.43%
- 3Y*
- 24.90%
- 5Y*
- —
- 10Y*
- —
FDT vs. MEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FDT First Trust Developed Markets ex-US AlphaDEX Fund | 23.23% | 52.21% | 6.97% | 11.76% |
MEMX Matthews Emerging Markets Ex China Active ETF | 29.81% | 35.88% | 5.50% | 11.33% |
Correlation
The correlation between FDT and MEMX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2023 | 0.76 |
The correlation between FDT and MEMX has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.
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Return for Risk
FDT vs. MEMX — Risk / Return Rank
FDT
MEMX
FDT vs. MEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Developed Markets ex-US AlphaDEX Fund (FDT) and Matthews Emerging Markets Ex China Active ETF (MEMX). 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.
| FDT | MEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.47 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 4.16 | -0.46 |
| Martin ratioReturn relative to average drawdown | 14.01 | 15.97 | -1.96 |
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Drawdowns
FDT vs. MEMX - Drawdown Comparison
The maximum FDT drawdown since its inception was -46.10%, which is greater than MEMX's maximum drawdown of -19.27%. Use the drawdown chart below to compare losses from any high point for FDT and MEMX.
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Drawdown Indicators
| FDT | MEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.10% | -19.27% | -26.83% |
Max Drawdown (1Y)Largest decline over 1 year | -13.41% | -14.70% | +1.29% |
Max Drawdown (3Y)Largest decline over 3 years | -14.29% | -19.27% | +4.98% |
Max Drawdown (5Y)Largest decline over 5 years | -32.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.10% | — | — |
Current DrawdownCurrent decline from peak | -3.37% | -3.40% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -3.50% | -7.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 3.83% | -0.29% |
Volatility
FDT vs. MEMX - Volatility Comparison
The current volatility for First Trust Developed Markets ex-US AlphaDEX Fund (FDT) is 8.93%, while Matthews Emerging Markets Ex China Active ETF (MEMX) has a volatility of 11.94%. This indicates that FDT experiences smaller price fluctuations and is considered to be less risky than MEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDT | MEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.93% | 11.94% | -3.01% |
Volatility (6M)Calculated over the trailing 6-month period | 17.27% | 21.24% | -3.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.59% | 23.42% | -3.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.46% | 17.73% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.62% | 17.73% | +0.89% |
FDT vs. MEMX - Expense Ratio Comparison
FDT has a 0.80% expense ratio, which is higher than MEMX's 0.79% expense ratio.
Dividends
FDT vs. MEMX - Dividend Comparison
FDT's dividend yield for the trailing twelve months is around 2.89%, less than MEMX's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDT First Trust Developed Markets ex-US AlphaDEX Fund | 2.89% | 3.27% | 3.89% | 4.36% | 2.29% | 3.80% | 2.42% | 2.78% | 2.13% | 1.57% | 1.76% | 1.83% |
MEMX Matthews Emerging Markets Ex China Active ETF | 3.76% | 4.88% | 0.99% | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FDT and MEMX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MEMX has higher volatility (11.94%) compared to FDT (8.93%). In terms of maximum drawdown, FDT dropped -46.10% vs MEMX's -19.27%.
On 3-year performance, FDT leads with 27.84% vs 24.90% for MEMX. On fees, MEMX is cheaper at 0.79% per year. On volatility, FDT has been the lower-risk option at 8.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FDT has performed better with a 27.84% return vs 24.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MEMX is cheaper with a 0.79% expense ratio, compared with 0.80% for FDT.
MEMX has the higher dividend yield at 3.76%, compared with 2.89% for FDT.
FDT is categorized as Foreign Large Cap Equities, while MEMX is Emerging Markets Diversified. They also come from different issuers: First Trust and Matthews. Their fees differ too: 0.80% for FDT and 0.79% for MEMX.
MEMX currently has the higher Sharpe Ratio (2.61 vs 2.54), 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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