FEMKX vs. DEM

Last updated Jun 23, 2026

FEMKX (Fidelity Emerging Markets) and DEM (WisdomTree Emerging Markets Equity Income Fund) are both Emerging Markets Equities funds. Over the past 10 years, FEMKX returned 12.36%/yr vs 10.73%/yr for DEM. Their correlation of 0.81 suggests significant overlap in exposure. FEMKX charges 0.88%/yr vs 0.63%/yr for DEM.

Performance

FEMKX vs. DEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Emerging Markets (FEMKX) and WisdomTree Emerging Markets Equity Income Fund (DEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEMKX achieves a 27.91% return, which is significantly higher than DEM's 20.44% return. Over the past 10 years, FEMKX has outperformed DEM with an annualized return of 12.36%, while DEM has yielded a comparatively lower 10.73% annualized return.

FEMKX

• 1D: 3.64%
• 1M: 7.14%
• YTD: 27.91%
• 6M: 29.94%
• 1Y: 55.13%
• 3Y*: 21.96%
• 5Y*: 7.60%
• 10Y*: 12.36%

DEM

• 1D: 0.54%
• 1M: 3.59%
• YTD: 20.44%
• 6M: 21.22%
• 1Y: 31.41%
• 3Y*: 19.07%
• 5Y*: 10.23%
• 10Y*: 10.73%

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

FEMKX vs. DEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEMKX Fidelity Emerging Markets	27.91%	31.02%	7.12%	15.16%	-27.48%	1.25%	32.56%	33.67%	-18.03%	46.92%
DEM WisdomTree Emerging Markets Equity Income Fund	20.44%	21.29%	4.46%	20.93%	-10.43%	11.49%	-5.84%	19.84%	-7.69%	26.26%

Correlation

The correlation between FEMKX and DEM is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jul 13, 2007	0.81

The correlation between FEMKX and DEM has been stable across timeframes, ranging from 0.73 to 0.81 - a consistent structural relationship.

Return for Risk

FEMKX vs. DEM — Risk / Return Rank

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

FEMKX

FEMKX Risk / Return Rank: 81
FEMKX Sharpe Ratio Rank: 84
FEMKX Sortino Ratio Rank: 69
FEMKX Omega Ratio Rank: 79
FEMKX Calmar Ratio Rank: 89
FEMKX Martin Ratio Rank: 86

DEM

DEM Risk / Return Rank: 73
DEM Sharpe Ratio Rank: 72
DEM Sortino Ratio Rank: 70
DEM Omega Ratio Rank: 72
DEM Calmar Ratio Rank: 80
DEM Martin Ratio Rank: 75

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.

FEMKX vs. DEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets (FEMKX) and WisdomTree Emerging Markets Equity Income Fund (DEM). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FEMKX	DEM	Difference
Sharpe ratio: Return per unit of total volatility	2.52	2.22	+0.30
Sortino ratio: Return per unit of downside risk	3.14	3.03	+0.11
Omega ratio: Gain probability vs. loss probability	1.47	1.41	+0.06
Calmar ratio: Return relative to maximum drawdown	4.19	4.00	+0.19
Martin ratio: Return relative to average drawdown	14.95	13.71	+1.23

FEMKX vs. DEM - Sharpe Ratio Comparison

The current FEMKX Sharpe Ratio is 2.52, which is comparable to the DEM Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of FEMKX and DEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FEMKX vs. DEM - Drawdown Comparison

The maximum FEMKX drawdown since its inception was -71.14%, which is greater than DEM's maximum drawdown of -51.85%. Use the drawdown chart below to compare losses from any high point for FEMKX and DEM.

Drawdown Indicators

	FEMKX	DEM	Difference
Max Drawdown Largest peak-to-trough decline	-71.14%	-51.85%	-19.29%
Max Drawdown (1Y) Largest decline over 1 year	-13.00%	-7.89%	-5.11%
Max Drawdown (3Y) Largest decline over 3 years	-19.13%	-15.64%	-3.49%
Max Drawdown (5Y) Largest decline over 5 years	-40.88%	-27.18%	-13.70%
Max Drawdown (10Y) Largest decline over 10 years	-43.24%	-37.79%	-5.45%
Current Drawdown Current decline from peak	-0.23%	-0.80%	+0.57%
Average Drawdown Average peak-to-trough decline	-25.92%	-12.87%	-13.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.64%	2.30%	+1.34%

Volatility

FEMKX vs. DEM - Volatility Comparison

Fidelity Emerging Markets (FEMKX) has a higher volatility of 11.90% compared to WisdomTree Emerging Markets Equity Income Fund (DEM) at 5.90%. This indicates that FEMKX's price experiences larger fluctuations and is considered to be riskier than DEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEMKX	DEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.90%	5.90%	+6.00%
Volatility (6M) Calculated over the trailing 6-month period	19.29%	12.23%	+7.06%
Volatility (1Y) Calculated over the trailing 1-year period	21.60%	14.21%	+7.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.48%	15.46%	+4.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.96%	17.97%	+0.99%

FEMKX vs. DEM - Expense Ratio Comparison

FEMKX has a 0.88% expense ratio, which is higher than DEM's 0.63% expense ratio.

Dividends

FEMKX vs. DEM - Dividend Comparison

FEMKX's dividend yield for the trailing twelve months is around 0.04%, less than DEM's 3.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEM WisdomTree Emerging Markets Equity Income Fund	3.74%	4.88%	5.24%	5.49%	8.62%	5.87%	4.21%	4.78%	4.47%	3.67%	3.63%	5.21%
FEMKX Fidelity Emerging Markets	0.04%	0.05%	0.65%	1.11%	0.77%	6.00%	1.39%	1.71%	0.83%	0.08%	0.67%	0.51%

Frequently Asked Questions

Can I hold both FEMKX and DEM in my portfolio?

FEMKX and DEM have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEMKX or DEM?

FEMKX has higher volatility (11.90%) compared to DEM (5.90%). In terms of maximum drawdown, FEMKX dropped -71.14% vs DEM's -51.85%.

Which has better risk-adjusted returns?

FEMKX currently has the higher Sharpe Ratio (2.52 vs 2.22), 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.