FEMD.L vs. FEM.L

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Emerging Markets Quality Income UCITS ETF (FEMD.L) and First Trust Emerging Markets AlphaDEX UCITS ETF Acc (FEM.L).

FEMD.L and FEM.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FEMD.L is a passively managed fund by Fidelity that tracks the performance of the MSCI EM NR USD. It was launched on Sep 9, 2019. FEM.L is a passively managed fund by First Trust that tracks the performance of the MSCI EM NR USD. It was launched on Apr 9, 2013. Both FEMD.L and FEM.L 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

FEMD.L vs. FEM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Fidelity Emerging Markets Quality Income UCITS ETF (FEMD.L) and First Trust Emerging Markets AlphaDEX UCITS ETF Acc (FEM.L). The values are adjusted to include any dividend payments, if applicable.

FEMD.L vs. FEM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FEMD.L Fidelity Emerging Markets Quality Income UCITS ETF	6.96%	20.67%	6.74%	9.89%	-15.51%	6.86%	9.56%	2.24%
FEM.L First Trust Emerging Markets AlphaDEX UCITS ETF Acc	11.44%	18.46%	5.12%	4.21%	-3.80%	8.72%	-3.95%	2.96%

Different Trading Currencies

FEMD.L is traded in GBP, while FEM.L is traded in GBp. To make them comparable, the FEM.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, FEMD.L achieves a 6.96% return, which is significantly lower than FEM.L's 11.44% return.

FEMD.L

• 1D: 3.21%
• 1M: -4.51%
• YTD: 6.96%
• 6M: 10.40%
• 1Y: 28.92%
• 3Y*: 13.81%
• 5Y*: 5.27%
• 10Y*: —

FEM.L

• 1D: 2.05%
• 1M: -2.65%
• YTD: 11.44%
• 6M: 14.12%
• 1Y: 30.88%
• 3Y*: 14.03%
• 5Y*: 7.63%
• 10Y*: 9.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FEMD.L vs. FEM.L - Expense Ratio Comparison

FEMD.L has a 0.50% expense ratio, which is lower than FEM.L's 0.80% expense ratio.

FEM.L

First Trust Emerging Markets AlphaDEX UCITS ETF Acc

FEMD.L

Fidelity Emerging Markets Quality Income UCITS ETF

Return for Risk

FEMD.L vs. FEM.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FEMD.L

FEMD.L Risk / Return Rank: 88
FEMD.L Sharpe Ratio Rank: 88
FEMD.L Sortino Ratio Rank: 89
FEMD.L Omega Ratio Rank: 87
FEMD.L Calmar Ratio Rank: 90
FEMD.L Martin Ratio Rank: 85

FEM.L

FEM.L Risk / Return Rank: 87
FEM.L Sharpe Ratio Rank: 86
FEM.L Sortino Ratio Rank: 83
FEM.L Omega Ratio Rank: 84
FEM.L Calmar Ratio Rank: 90
FEM.L Martin Ratio Rank: 89

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.

FEMD.L vs. FEM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets Quality Income UCITS ETF (FEMD.L) and First Trust Emerging Markets AlphaDEX UCITS ETF Acc (FEM.L). 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.

	FEMD.L	FEM.L	Difference
Sharpe ratio Return per unit of total volatility	1.94	1.85	+0.09
Sortino ratio Return per unit of downside risk	2.60	2.31	+0.29
Omega ratio Gain probability vs. loss probability	1.37	1.35	+0.02
Calmar ratio Return relative to maximum drawdown	3.30	3.45	-0.15
Martin ratio Return relative to average drawdown	10.81	12.64	-1.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEMD.L vs. FEM.L - Sharpe Ratio Comparison

The current FEMD.L Sharpe Ratio is 1.94, which is comparable to the FEM.L Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of FEMD.L and FEM.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FEMD.L	FEM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	1.85	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.48	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.32	+0.07

Correlation

The correlation between FEMD.L and FEM.L is 0.78, 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

FEMD.L vs. FEM.L - Dividend Comparison

FEMD.L's dividend yield for the trailing twelve months is around 3.35%, while FEM.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019
FEMD.L Fidelity Emerging Markets Quality Income UCITS ETF	3.35%	3.48%	3.76%	3.69%	3.99%	3.27%	2.62%	0.37%
FEM.L First Trust Emerging Markets AlphaDEX UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FEMD.L vs. FEM.L - Drawdown Comparison

The maximum FEMD.L drawdown since its inception was -27.55%, smaller than the maximum FEM.L drawdown of -35.42%. Use the drawdown chart below to compare losses from any high point for FEMD.L and FEM.L.

Drawdown Indicators

	FEMD.L	FEM.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.55%	-35.42%	+7.87%
Max Drawdown (1Y) Largest decline over 1 year	-10.46%	-11.09%	+0.63%
Max Drawdown (5Y) Largest decline over 5 years	-25.26%	-17.83%	-7.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.42%	—
Current Drawdown Current decline from peak	-5.99%	-2.65%	-3.34%
Average Drawdown Average peak-to-trough decline	-8.43%	-9.09%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	2.50%	+0.23%

Volatility

FEMD.L vs. FEM.L - Volatility Comparison

Fidelity Emerging Markets Quality Income UCITS ETF (FEMD.L) and First Trust Emerging Markets AlphaDEX UCITS ETF Acc (FEM.L) have volatilities of 5.92% and 5.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEMD.L	FEM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.92%	5.83%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	10.65%	12.58%	-1.93%
Volatility (1Y) Calculated over the trailing 1-year period	14.86%	16.63%	-1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.44%	15.89%	-1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.39%	18.71%	-1.32%