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FEM vs. SDEM
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FEM vs. SDEM

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Emerging Markets AlphaDEX Fund (FEM) and Global X MSCI SuperDividend Emerging Markets ETF (SDEM).

FEM and SDEM 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. SDEM is a passively managed fund by Global X that tracks the performance of the MSCI Emerging Markets Top 50 Dividend. It was launched on Mar 17, 2015. Both FEM and SDEM 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. SDEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Emerging Markets AlphaDEX Fund (FEM) and Global X MSCI SuperDividend Emerging Markets ETF (SDEM). The values are adjusted to include any dividend payments, if applicable.

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FEM vs. SDEM - 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%41.05%
SDEM
Global X MSCI SuperDividend Emerging Markets ETF		9.02%32.01%4.02%12.64%-21.53%2.11%-11.13%17.56%-17.40%16.57%

Returns By Period

In the year-to-date period, FEM achieves a 9.64% return, which is significantly higher than SDEM's 9.02% return. Over the past 10 years, FEM has outperformed SDEM with an annualized return of 8.47%, while SDEM has yielded a comparatively lower 4.68% annualized 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%

SDEM

1D
2.83%
1M
-3.15%
YTD
9.02%
6M
17.87%
1Y
32.71%
3Y*
18.58%
5Y*
5.04%
10Y*
4.68%
*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

Global X MSCI SuperDividend Emerging Markets ETF

Often compared with FEM:
FEM vs. FPADXFEM vs. RFEMFEM vs. IQQE.DEFEM vs. VWOFEM vs. AVEMFEM vs. SPEMFEM vs. FDEM
Often compared with SDEM:
SDEM vs. SDIVSDEM vs. ALTYSDEM vs. EFASSDEM vs. SCHDSDEM vs. SPYSDEM vs. DGRWSDEM vs. DVYA

FEM vs. SDEM - Expense Ratio Comparison

FEM has a 0.80% expense ratio, which is higher than SDEM's 0.67% expense ratio.

FEM
First Trust Emerging Markets AlphaDEX Fund
SDEM
Global X MSCI SuperDividend Emerging Markets ETF

Return for Risk

FEM vs. SDEM — 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
SDEM
SDEM Risk / Return Rank: 9393
Overall Rank
SDEM Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
SDEM Sortino Ratio Rank: 9393
Sortino Ratio Rank
SDEM Omega Ratio Rank: 9393
Omega Ratio Rank
SDEM Calmar Ratio Rank: 9292
Calmar Ratio Rank
SDEM Martin Ratio Rank: 9393
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. SDEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Emerging Markets AlphaDEX Fund (FEM) and Global X MSCI SuperDividend Emerging Markets ETF (SDEM). 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.

FEMSDEMDifference

Sharpe ratio

Return per unit of total volatility

1.85

2.15

-0.30

Sortino ratio

Return per unit of downside risk

2.34

2.80

-0.46

Omega ratio

Gain probability vs. loss probability

1.36

1.42

-0.06

Calmar ratio

Return relative to maximum drawdown

2.66

3.31

-0.65

Martin ratio

Return relative to average drawdown

12.54

13.51

-0.97

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. SDEM - Sharpe Ratio Comparison

The current FEM Sharpe Ratio is 1.85, which is comparable to the SDEM Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of FEM and SDEM, 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

FEMSDEMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.85

2.15

-0.30

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.38

0.29

+0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.41

0.24

+0.16

Sharpe Ratio (All Time)

Calculated using the full available price history

0.16

0.18

-0.02

Correlation

The correlation between FEM and SDEM is 0.82, 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. SDEM - Dividend Comparison

FEM's dividend yield for the trailing twelve months is around 2.84%, less than SDEM's 4.92% 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%
SDEM
Global X MSCI SuperDividend Emerging Markets ETF		4.92%5.27%7.28%7.50%8.86%8.14%6.30%6.47%6.55%5.01%5.06%6.14%

Drawdowns

FEM vs. SDEM - Drawdown Comparison

The maximum FEM drawdown since its inception was -46.23%, roughly equal to the maximum SDEM drawdown of -47.38%. Use the drawdown chart below to compare losses from any high point for FEM and SDEM.

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Drawdown Indicators

FEMSDEMDifference

Max Drawdown

Largest peak-to-trough decline

-46.23%

-47.38%

+1.15%

Max Drawdown (1Y)

Largest decline over 1 year

-13.19%

-9.78%

-3.41%

Max Drawdown (5Y)

Largest decline over 5 years

-31.72%

-36.72%

+5.00%

Max Drawdown (10Y)

Largest decline over 10 years

-46.23%

-47.38%

+1.15%

Current Drawdown

Current decline from peak

-5.40%

-4.01%

-1.39%

Average Drawdown

Average peak-to-trough decline

-15.20%

-20.99%

+5.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.79%

2.39%

+0.40%

Volatility

FEM vs. SDEM - Volatility Comparison

First Trust Emerging Markets AlphaDEX Fund (FEM) has a higher volatility of 8.51% compared to Global X MSCI SuperDividend Emerging Markets ETF (SDEM) at 7.05%. This indicates that FEM's price experiences larger fluctuations and is considered to be riskier than SDEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FEMSDEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.51%

7.05%

+1.46%

Volatility (6M)

Calculated over the trailing 6-month period

13.64%

10.37%

+3.27%

Volatility (1Y)

Calculated over the trailing 1-year period

19.24%

15.29%

+3.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.21%

17.35%

+0.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.95%

19.31%

+1.64%