FEMB vs. FCVT
FEMB (First Trust Emerging Markets Local Currency Bond ETF) and FCVT (First Trust SSI Strategic Convertible Securities ETF) are both exchange-traded funds - FEMB is a Emerging Markets Bonds fund actively managed by First Trust, while FCVT is a Preferred Stock/Convertible Bonds fund actively managed by First Trust. Both are actively managed. Over the past 10 years, FEMB returned 2.51%/yr vs 12.36%/yr for FCVT. At a 0.32 correlation, their price movements are largely independent. FEMB charges 0.85%/yr vs 0.95%/yr for FCVT.
Performance
FEMB vs. FCVT - Performance Comparison
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Returns By Period
In the year-to-date period, FEMB achieves a 0.60% return, which is significantly lower than FCVT's 25.61% return. Over the past 10 years, FEMB has underperformed FCVT with an annualized return of 2.51%, while FCVT has yielded a comparatively higher 12.36% annualized return.
FEMB
- 1D
- -0.81%
- 1M
- 0.57%
- YTD
- 0.60%
- 6M
- 0.88%
- 1Y
- 10.20%
- 3Y*
- 7.79%
- 5Y*
- 1.63%
- 10Y*
- 2.51%
FCVT
- 1D
- -1.20%
- 1M
- 7.08%
- YTD
- 25.61%
- 6M
- 25.00%
- 1Y
- 47.07%
- 3Y*
- 21.35%
- 5Y*
- 7.58%
- 10Y*
- 12.36%
FEMB vs. FCVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FEMB First Trust Emerging Markets Local Currency Bond ETF | 0.60% | 21.77% | -5.61% | 17.12% | -10.50% | -13.40% | 3.16% | 11.52% | -7.19% | 11.92% |
FCVT First Trust SSI Strategic Convertible Securities ETF | 25.61% | 19.60% | 11.92% | 7.12% | -20.88% | 4.23% | 51.02% | 22.30% | -2.28% | 12.66% |
Correlation
The correlation between FEMB and FCVT is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2015 | 0.32 |
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Return for Risk
FEMB vs. FCVT — Risk / Return Rank
FEMB
FCVT
FEMB vs. FCVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Emerging Markets Local Currency Bond ETF (FEMB) and First Trust SSI Strategic Convertible Securities ETF (FCVT). 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.
| FEMB | FCVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.50 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 5.58 | -4.23 |
| Martin ratioReturn relative to average drawdown | 4.34 | 20.90 | -16.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FEMB | FCVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 2.97 | -1.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.54 | -0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.83 | -0.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.68 | -0.60 |
Drawdowns
FEMB vs. FCVT - Drawdown Comparison
The maximum FEMB drawdown since its inception was -30.44%, roughly equal to the maximum FCVT drawdown of -31.79%. Use the drawdown chart below to compare losses from any high point for FEMB and FCVT.
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Drawdown Indicators
| FEMB | FCVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.44% | -31.79% | +1.35% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -8.47% | +0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -10.13% | -15.06% | +4.93% |
Max Drawdown (5Y)Largest decline over 5 years | -27.85% | -30.43% | +2.58% |
Max Drawdown (10Y)Largest decline over 10 years | -30.44% | -31.79% | +1.35% |
Current DrawdownCurrent decline from peak | -3.91% | -1.20% | -2.71% |
Average DrawdownAverage peak-to-trough decline | -9.93% | -10.36% | +0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 2.26% | +0.09% |
Volatility
FEMB vs. FCVT - Volatility Comparison
The current volatility for First Trust Emerging Markets Local Currency Bond ETF (FEMB) is 3.05%, while First Trust SSI Strategic Convertible Securities ETF (FCVT) has a volatility of 6.07%. This indicates that FEMB experiences smaller price fluctuations and is considered to be less risky than FCVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEMB | FCVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 6.07% | -3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 6.57% | 12.99% | -6.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.36% | 15.94% | -7.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.26% | 14.09% | -3.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.99% | 14.85% | -3.86% |
FEMB vs. FCVT - Expense Ratio Comparison
FEMB has a 0.85% expense ratio, which is lower than FCVT's 0.95% expense ratio.
Dividends
FEMB vs. FCVT - Dividend Comparison
FEMB's dividend yield for the trailing twelve months is around 6.06%, more than FCVT's 1.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCVT First Trust SSI Strategic Convertible Securities ETF | 1.19% | 1.98% | 1.30% | 1.76% | 3.71% | 23.07% | 1.72% | 1.60% | 1.85% | 2.18% | 1.88% | 0.59% |
FEMB First Trust Emerging Markets Local Currency Bond ETF | 6.06% | 5.67% | 6.09% | 5.15% | 6.35% | 6.12% | 5.29% | 5.40% | 5.86% | 6.38% | 5.83% | 4.89% |
Frequently Asked Questions
FEMB and FCVT have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCVT has higher volatility (6.07%) compared to FEMB (3.05%). In terms of maximum drawdown, FEMB dropped -30.44% vs FCVT's -31.79%.
On 10-year performance, FCVT leads with 12.36% vs 2.51% for FEMB. On fees, FEMB is cheaper at 0.85% per year. On volatility, FEMB has been the lower-risk option at 3.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FCVT has performed better with a 12.36% return vs 2.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FEMB is cheaper with a 0.85% expense ratio, compared with 0.95% for FCVT.
FEMB has the higher dividend yield at 6.06%, compared with 1.19% for FCVT.
FEMB is categorized as Emerging Markets Bonds, while FCVT is Preferred Stock/Convertible Bonds. Their fees differ too: 0.85% for FEMB and 0.95% for FCVT.
FCVT currently has the higher Sharpe Ratio (2.97 vs 1.22), 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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