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FEM vs. KEMQ
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FEM vs. KEMQ

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Emerging Markets AlphaDEX Fund (FEM) and KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ).

FEM and KEMQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FEM is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX EM Index. It was launched on Apr 18, 2011. KEMQ is a passively managed fund by CICC that tracks the performance of the Solactive Emerging Markets Consumer Technology Index. It was launched on Oct 11, 2017. Both FEM and KEMQ 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

FEM vs. KEMQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Emerging Markets AlphaDEX Fund (FEM) and KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ). The values are adjusted to include any dividend payments, if applicable.

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FEM vs. KEMQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FEM
First Trust Emerging Markets AlphaDEX Fund		9.64%28.36%3.01%10.84%-14.24%7.40%-1.68%20.55%-15.51%-0.05%
KEMQ
KraneShares Emerging Markets Consumer Technology Index ETF		-8.14%56.28%13.81%0.77%-38.09%-27.31%39.26%28.26%-25.52%1.88%

Returns By Period

In the year-to-date period, FEM achieves a 9.64% return, which is significantly higher than KEMQ's -8.14% return.

FEM

1D
1.40%
1M
-4.37%
YTD
9.64%
6M
11.51%
1Y
35.39%
3Y*
16.74%
5Y*
6.92%
10Y*
8.47%

KEMQ

1D
3.67%
1M
-10.71%
YTD
-8.14%
6M
-9.56%
1Y
28.19%
3Y*
16.57%
5Y*
-6.00%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Emerging Markets AlphaDEX Fund

KraneShares Emerging Markets Consumer Technology Index ETF

Often compared with FEM:
FEM vs. FPADXFEM vs. RFEMFEM vs. IQQE.DEFEM vs. VWOFEM vs. AVEMFEM vs. SPEMFEM vs. FDEM
Often compared with KEMQ:
KEMQ vs. AUMIKEMQ vs. IEMGKEMQ vs. DVYEKEMQ vs. KLIPKEMQ vs. EBIZKEMQ vs. SPYKEMQ vs. FXI

FEM vs. KEMQ - Expense Ratio Comparison

FEM has a 0.80% expense ratio, which is higher than KEMQ's 0.60% expense ratio.

FEM
First Trust Emerging Markets AlphaDEX Fund
KEMQ
KraneShares Emerging Markets Consumer Technology Index ETF

Return for Risk

FEM vs. KEMQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FEM
FEM Risk / Return Rank: 8888
Overall Rank
FEM Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
FEM Sortino Ratio Rank: 8787
Sortino Ratio Rank
FEM Omega Ratio Rank: 8888
Omega Ratio Rank
FEM Calmar Ratio Rank: 8787
Calmar Ratio Rank
FEM Martin Ratio Rank: 9292
Martin Ratio Rank
KEMQ
KEMQ Risk / Return Rank: 5454
Overall Rank
KEMQ Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
KEMQ Sortino Ratio Rank: 6161
Sortino Ratio Rank
KEMQ Omega Ratio Rank: 5454
Omega Ratio Rank
KEMQ Calmar Ratio Rank: 5050
Calmar Ratio Rank
KEMQ Martin Ratio Rank: 4444
Martin Ratio Rank
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.

FEM vs. KEMQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Emerging Markets AlphaDEX Fund (FEM) and KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ). 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.

FEMKEMQDifference

Sharpe ratio

Return per unit of total volatility

1.85

1.04

+0.81

Sortino ratio

Return per unit of downside risk

2.34

1.55

+0.79

Omega ratio

Gain probability vs. loss probability

1.36

1.20

+0.16

Calmar ratio

Return relative to maximum drawdown

2.66

1.25

+1.40

Martin ratio

Return relative to average drawdown

12.54

4.15

+8.39

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEM vs. KEMQ - Sharpe Ratio Comparison

The current FEM Sharpe Ratio is 1.85, which is higher than the KEMQ Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of FEM and KEMQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FEMKEMQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.85

1.04

+0.81

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.38

-0.19

+0.57

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.41

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.16

0.00

+0.16

Correlation

The correlation between FEM and KEMQ 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

FEM vs. KEMQ - Dividend Comparison

FEM's dividend yield for the trailing twelve months is around 2.84%, less than KEMQ's 5.73% yield.

TTM20252024202320222021202020192018201720162015
FEM
First Trust Emerging Markets AlphaDEX Fund		2.84%3.13%3.66%4.96%6.15%4.15%2.68%3.31%3.52%2.45%2.25%3.61%
KEMQ
KraneShares Emerging Markets Consumer Technology Index ETF		5.73%5.27%0.73%0.29%0.00%0.28%2.28%1.76%0.00%0.00%0.00%0.00%

Drawdowns

FEM vs. KEMQ - Drawdown Comparison

The maximum FEM drawdown since its inception was -46.23%, smaller than the maximum KEMQ drawdown of -70.72%. Use the drawdown chart below to compare losses from any high point for FEM and KEMQ.

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Drawdown Indicators

FEMKEMQDifference

Max Drawdown

Largest peak-to-trough decline

-46.23%

-70.72%

+24.49%

Max Drawdown (1Y)

Largest decline over 1 year

-13.19%

-21.94%

+8.75%

Max Drawdown (5Y)

Largest decline over 5 years

-31.72%

-66.39%

+34.67%

Max Drawdown (10Y)

Largest decline over 10 years

-46.23%

—

—

Current Drawdown

Current decline from peak

-5.40%

-38.30%

+32.90%

Average Drawdown

Average peak-to-trough decline

-15.20%

-35.75%

+20.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.79%

6.62%

-3.83%

Volatility

FEM vs. KEMQ - Volatility Comparison

The current volatility for First Trust Emerging Markets AlphaDEX Fund (FEM) is 8.51%, while KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) has a volatility of 11.98%. This indicates that FEM experiences smaller price fluctuations and is considered to be less risky than KEMQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FEMKEMQDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.51%

11.98%

-3.47%

Volatility (6M)

Calculated over the trailing 6-month period

13.64%

19.65%

-6.01%

Volatility (1Y)

Calculated over the trailing 1-year period

19.24%

27.20%

-7.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.21%

31.63%

-13.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.95%

29.54%

-8.59%