FDTS vs. MEMX
FDTS (First Trust Developed Markets ex-US Small Cap AlphaDEX Fund) and MEMX (Matthews Emerging Markets Ex China Active ETF) are both exchange-traded funds - FDTS is a Foreign Small & Mid Cap Equities fund tracking the NASDAQ AlphaDEX DM Ex-US Small Cap Index, while MEMX is a Emerging Markets Diversified fund actively managed by Matthews. FDTS is passively managed, while MEMX is actively managed. Over the past 3 years, FDTS returned 24.70%/yr vs 24.90%/yr for MEMX. A 0.72 correlation means they provide meaningful diversification when combined. FDTS charges 0.80%/yr vs 0.79%/yr for MEMX.
Performance
FDTS vs. MEMX - Performance Comparison
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Returns By Period
In the year-to-date period, FDTS achieves a 18.78% return, which is significantly lower than MEMX's 29.81% return.
FDTS
- 1D
- -0.17%
- 1M
- -2.15%
- YTD
- 18.78%
- 6M
- 20.77%
- 1Y
- 44.72%
- 3Y*
- 24.70%
- 5Y*
- 10.78%
- 10Y*
- 10.96%
MEMX
- 1D
- 0.55%
- 1M
- 5.01%
- YTD
- 29.81%
- 6M
- 38.48%
- 1Y
- 63.43%
- 3Y*
- 24.90%
- 5Y*
- —
- 10Y*
- —
FDTS vs. MEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund | 18.78% | 51.17% | 2.44% | 9.02% |
MEMX Matthews Emerging Markets Ex China Active ETF | 29.81% | 35.88% | 5.50% | 11.33% |
Correlation
The correlation between FDTS and MEMX is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2023 | 0.72 |
The correlation between FDTS and MEMX has been stable across timeframes, ranging from 0.72 to 0.76 - a consistent structural relationship.
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Return for Risk
FDTS vs. MEMX — Risk / Return Rank
FDTS
MEMX
FDTS vs. MEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS) 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.
| FDTS | MEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.47 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | 4.16 | -0.74 |
| Martin ratioReturn relative to average drawdown | 11.78 | 15.97 | -4.19 |
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Drawdowns
FDTS vs. MEMX - Drawdown Comparison
The maximum FDTS drawdown since its inception was -51.26%, which is greater than MEMX's maximum drawdown of -19.27%. Use the drawdown chart below to compare losses from any high point for FDTS and MEMX.
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Drawdown Indicators
| FDTS | MEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.26% | -19.27% | -31.99% |
Max Drawdown (1Y)Largest decline over 1 year | -12.61% | -14.70% | +2.09% |
Max Drawdown (3Y)Largest decline over 3 years | -13.19% | -19.27% | +6.08% |
Max Drawdown (5Y)Largest decline over 5 years | -33.11% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -51.26% | — | — |
Current DrawdownCurrent decline from peak | -4.77% | -3.40% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -10.64% | -3.50% | -7.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 3.83% | -0.17% |
Volatility
FDTS vs. MEMX - Volatility Comparison
The current volatility for First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS) is 8.44%, while Matthews Emerging Markets Ex China Active ETF (MEMX) has a volatility of 11.94%. This indicates that FDTS 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
| FDTS | MEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.44% | 11.94% | -3.50% |
Volatility (6M)Calculated over the trailing 6-month period | 15.54% | 21.24% | -5.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.27% | 23.42% | -5.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.42% | 17.73% | +11.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.92% | 17.73% | +7.19% |
FDTS vs. MEMX - Expense Ratio Comparison
FDTS has a 0.80% expense ratio, which is higher than MEMX's 0.79% expense ratio.
Dividends
FDTS vs. MEMX - Dividend Comparison
FDTS's dividend yield for the trailing twelve months is around 2.53%, less than MEMX's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund | 2.53% | 2.94% | 3.94% | 2.90% | 3.71% | 3.01% | 2.02% | 2.30% | 1.96% | 2.08% | 1.78% | 1.73% |
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
FDTS and MEMX have a correlation of 0.76, 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 FDTS (8.44%). In terms of maximum drawdown, FDTS dropped -51.26% vs MEMX's -19.27%.
On 3-year performance, MEMX leads with 24.90% vs 24.70% for FDTS. On fees, MEMX is cheaper at 0.79% per year. On volatility, FDTS has been the lower-risk option at 8.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MEMX has performed better with a 24.90% return vs 24.70%. 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 FDTS.
MEMX has the higher dividend yield at 3.76%, compared with 2.53% for FDTS.
FDTS is categorized as Foreign Small & Mid 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 FDTS and 0.79% for MEMX.
MEMX currently has the higher Sharpe Ratio (2.61 vs 2.37), 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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