FEME.L vs. FFEM

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Emerging Markets Quality Income UCITS ETF USD Inc (FEME.L) and Fidelity Fundamental Emerging Markets ETF (FFEM).

FEME.L and FFEM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FEME.L is a passively managed fund by Fidelity that tracks the performance of the Fidelity Emerging Markets Quality Income Index. It was launched on Oct 30, 2017. FFEM is managed by Fidelity.

Performance

FEME.L vs. FFEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Emerging Markets Quality Income UCITS ETF USD Inc (FEME.L) and Fidelity Fundamental Emerging Markets ETF (FFEM). The values are adjusted to include any dividend payments, if applicable.

FEME.L vs. FFEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FEME.L Fidelity Emerging Markets Quality Income UCITS ETF USD Inc	5.47%	24.79%	-0.17%
FFEM Fidelity Fundamental Emerging Markets ETF	6.88%	40.03%	-2.27%

Returns By Period

In the year-to-date period, FEME.L achieves a 5.47% return, which is significantly lower than FFEM's 6.88% return.

FEME.L

• 1D: 4.18%
• 1M: -4.88%
• YTD: 5.47%
• 6M: 7.81%
• 1Y: 28.28%
• 3Y*: 12.43%
• 5Y*: 0.74%
• 10Y*: —

FFEM

• 1D: 0.79%
• 1M: -6.99%
• YTD: 6.88%
• 6M: 12.73%
• 1Y: 42.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FEME.L vs. FFEM - Expense Ratio Comparison

FEME.L has a 0.50% expense ratio, which is lower than FFEM's 0.60% expense ratio.

FFEM

Fidelity Fundamental Emerging Markets ETF

FEME.L

Fidelity Emerging Markets Quality Income UCITS ETF USD Inc

Return for Risk

FEME.L vs. FFEM — Risk / Return Rank

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

FEME.L

FEME.L Risk / Return Rank: 78
FEME.L Sharpe Ratio Rank: 81
FEME.L Sortino Ratio Rank: 81
FEME.L Omega Ratio Rank: 78
FEME.L Calmar Ratio Rank: 79
FEME.L Martin Ratio Rank: 73

FFEM

FFEM Risk / Return Rank: 88
FFEM Sharpe Ratio Rank: 88
FFEM Sortino Ratio Rank: 88
FFEM Omega Ratio Rank: 88
FFEM Calmar Ratio Rank: 89
FFEM 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.

FEME.L vs. FFEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets Quality Income UCITS ETF USD Inc (FEME.L) and Fidelity Fundamental Emerging Markets ETF (FFEM). 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.

	FEME.L	FFEM	Difference
Sharpe ratio Return per unit of total volatility	1.64	1.91	-0.27
Sortino ratio Return per unit of downside risk	2.23	2.54	-0.31
Omega ratio Gain probability vs. loss probability	1.31	1.37	-0.06
Calmar ratio Return relative to maximum drawdown	2.52	3.17	-0.65
Martin ratio Return relative to average drawdown	8.84	12.03	-3.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEME.L vs. FFEM - Sharpe Ratio Comparison

The current FEME.L Sharpe Ratio is 1.64, which is comparable to the FFEM Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of FEME.L and FFEM, 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

	FEME.L	FFEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	1.91	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	1.56	-1.33

Correlation

The correlation between FEME.L and FFEM is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FEME.L vs. FFEM - Dividend Comparison

FEME.L has not paid dividends to shareholders, while FFEM's dividend yield for the trailing twelve months is around 1.52%.

	TTM	2025	2024
FEME.L Fidelity Emerging Markets Quality Income UCITS ETF USD Inc	0.00%	0.00%	0.00%
FFEM Fidelity Fundamental Emerging Markets ETF	1.52%	1.59%	0.16%

Drawdowns

FEME.L vs. FFEM - Drawdown Comparison

The maximum FEME.L drawdown since its inception was -41.21%, which is greater than FFEM's maximum drawdown of -16.29%. Use the drawdown chart below to compare losses from any high point for FEME.L and FFEM.

Drawdown Indicators

	FEME.L	FFEM	Difference
Max Drawdown Largest peak-to-trough decline	-41.21%	-16.29%	-24.92%
Max Drawdown (1Y) Largest decline over 1 year	-11.44%	-13.57%	+2.13%
Max Drawdown (5Y) Largest decline over 5 years	-41.21%	—	—
Current Drawdown Current decline from peak	-7.53%	-9.03%	+1.50%
Average Drawdown Average peak-to-trough decline	-17.55%	-2.46%	-15.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	3.58%	-0.38%

Volatility

FEME.L vs. FFEM - Volatility Comparison

The current volatility for Fidelity Emerging Markets Quality Income UCITS ETF USD Inc (FEME.L) is 6.91%, while Fidelity Fundamental Emerging Markets ETF (FFEM) has a volatility of 10.69%. This indicates that FEME.L experiences smaller price fluctuations and is considered to be less risky than FFEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEME.L	FFEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.91%	10.69%	-3.78%
Volatility (6M) Calculated over the trailing 6-month period	12.03%	16.76%	-4.73%
Volatility (1Y) Calculated over the trailing 1-year period	17.16%	22.16%	-5.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.78%	21.11%	-4.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.66%	21.11%	-1.45%