FEMKX vs. EMCR

Last updated Jun 5, 2026

FEMKX (Fidelity Emerging Markets) and EMCR (Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF) are both Emerging Markets Equities funds. Over the past 5 years, FEMKX returned 6.89%/yr vs 8.83%/yr for EMCR. Their correlation of 0.90 suggests significant overlap in exposure. FEMKX charges 0.88%/yr vs 0.15%/yr for EMCR.

Performance

FEMKX vs. EMCR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Emerging Markets (FEMKX) and Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEMKX achieves a 26.35% return, which is significantly higher than EMCR's 22.13% return.

FEMKX

• 1D: -1.45%
• 1M: 6.92%
• YTD: 26.35%
• 6M: 28.63%
• 1Y: 54.32%
• 3Y*: 23.18%
• 5Y*: 6.89%
• 10Y*: 12.20%

EMCR

• 1D: -0.87%
• 1M: 5.56%
• YTD: 22.13%
• 6M: 24.53%
• 1Y: 47.15%
• 3Y*: 23.37%
• 5Y*: 8.83%
• 10Y*: —

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

FEMKX vs. EMCR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FEMKX Fidelity Emerging Markets	26.35%	31.02%	7.12%	15.16%	-27.48%	1.25%	32.56%	33.67%	-2.20%
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	22.13%	33.25%	9.69%	10.55%	-18.73%	5.54%	13.49%	22.41%	-1.76%

Correlation

The correlation between FEMKX and EMCR is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 7, 2018	0.90

The correlation between FEMKX and EMCR has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

FEMKX vs. EMCR — Risk / Return Rank

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

FEMKX

FEMKX Risk / Return Rank: 84
FEMKX Sharpe Ratio Rank: 89
FEMKX Sortino Ratio Rank: 78
FEMKX Omega Ratio Rank: 80
FEMKX Calmar Ratio Rank: 88
FEMKX Martin Ratio Rank: 87

EMCR

EMCR Risk / Return Rank: 73
EMCR Sharpe Ratio Rank: 76
EMCR Sortino Ratio Rank: 71
EMCR Omega Ratio Rank: 75
EMCR Calmar Ratio Rank: 70
EMCR Martin Ratio Rank: 71

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. EMCR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets (FEMKX) and Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR). 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.

	FEMKX	EMCR	Difference
Sharpe ratio: Return per unit of total volatility	2.97	2.42	+0.56
Sortino ratio: Return per unit of downside risk	3.77	3.17	+0.61
Omega ratio: Gain probability vs. loss probability	1.53	1.44	+0.09
Calmar ratio: Return relative to maximum drawdown	4.34	3.42	+0.92
Martin ratio: Return relative to average drawdown	16.43	13.08	+3.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEMKX vs. EMCR - Sharpe Ratio Comparison

The current FEMKX Sharpe Ratio is 2.97, which is comparable to the EMCR Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of FEMKX and EMCR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FEMKX	EMCR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.97	2.42	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.46	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.60	-0.27

Drawdowns

FEMKX vs. EMCR - Drawdown Comparison

The maximum FEMKX drawdown since its inception was -71.14%, which is greater than EMCR's maximum drawdown of -34.28%. Use the drawdown chart below to compare losses from any high point for FEMKX and EMCR.

Drawdown Indicators

	FEMKX	EMCR	Difference
Max Drawdown Largest peak-to-trough decline	-71.14%	-34.28%	-36.86%
Max Drawdown (1Y) Largest decline over 1 year	-13.00%	-13.84%	+0.84%
Max Drawdown (3Y) Largest decline over 3 years	-19.13%	-18.38%	-0.75%
Max Drawdown (5Y) Largest decline over 5 years	-40.88%	-34.28%	-6.60%
Max Drawdown (10Y) Largest decline over 10 years	-43.24%	—	—
Current Drawdown Current decline from peak	-1.45%	-2.21%	+0.76%
Average Drawdown Average peak-to-trough decline	-25.94%	-9.33%	-16.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	3.61%	-0.18%

Volatility

FEMKX vs. EMCR - Volatility Comparison

Fidelity Emerging Markets (FEMKX) and Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) have volatilities of 8.10% and 8.00%, 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

	FEMKX	EMCR	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.10%	8.00%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	16.16%	16.94%	-0.78%
Volatility (1Y) Calculated over the trailing 1-year period	18.97%	19.62%	-0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.91%	19.29%	-0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.68%	19.86%	-1.18%

FEMKX vs. EMCR - Expense Ratio Comparison

FEMKX has a 0.88% expense ratio, which is higher than EMCR's 0.15% expense ratio.

Dividends

FEMKX vs. EMCR - Dividend Comparison

FEMKX's dividend yield for the trailing twelve months is around 0.04%, less than EMCR's 1.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	1.99%	2.43%	6.62%	1.95%	3.05%	1.83%	1.75%	3.15%	0.19%	0.00%	0.00%	0.00%
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 EMCR in my portfolio?

With a correlation of 0.92, FEMKX and EMCR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FEMKX or EMCR?

FEMKX has higher volatility (8.10%) compared to EMCR (8.00%). In terms of maximum drawdown, FEMKX dropped -71.14% vs EMCR's -34.28%.

Which has better risk-adjusted returns?

FEMKX currently has the higher Sharpe Ratio (2.97 vs 2.42), 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.