FEMQ.L vs. FEME.L

Last updated Jun 5, 2026

FEMQ.L (Fidelity Emerging Markets Quality Income UCITS ETF) and FEME.L (Fidelity Emerging Markets Quality Income UCITS ETF USD Inc) are both exchange-traded funds - FEMQ.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while FEME.L is a Emerging Markets Diversified fund tracking the Fidelity Emerging Markets Quality Income Index. Both are passively managed. Over the past 5 years, FEMQ.L returned 9.81%/yr vs 5.75%/yr for FEME.L. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

FEMQ.L vs. FEME.L - Performance Comparison

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

Different Trading Currencies

FEMQ.L is traded in GBP, while FEME.L is traded in USD. To make them comparable, the FEME.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with FEMQ.L having a 34.78% return and FEME.L slightly lower at 33.94%.

FEMQ.L

• 1D: -1.83%
• 1M: 10.66%
• YTD: 34.78%
• 6M: 35.19%
• 1Y: 57.18%
• 3Y*: 23.41%
• 5Y*: 9.81%
• 10Y*: —

FEME.L

• 1D: -1.73%
• 1M: 9.72%
• YTD: 33.94%
• 6M: 33.69%
• 1Y: 52.33%
• 3Y*: 19.11%
• 5Y*: 5.75%
• 10Y*: —

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

FEMQ.L vs. FEME.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FEMQ.L Fidelity Emerging Markets Quality Income UCITS ETF	34.78%	20.96%	6.49%	9.64%	-15.02%	7.70%	9.31%	1.66%
FEME.L Fidelity Emerging Markets Quality Income UCITS ETF USD Inc	33.94%	15.90%	2.99%	6.11%	-18.60%	3.10%	6.80%	1.26%

Correlation

The correlation between FEMQ.L and FEME.L 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	0.91
Correlation (All Time) Calculated using the full available price history since Sep 12, 2019	0.91

The correlation between FEMQ.L and FEME.L has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

FEMQ.L vs. FEME.L - Sectors Allocation Comparison

Sectors	FEMQ.L	FEME.L
Technology	49.5%	40.4%
Financial Services	16.6%	19.4%
Consumer Cyclical	9.6%	11.2%
Industrials	7.1%	8.0%
Basic Materials	5.2%	6.2%
Energy	3.2%	4.2%
Communication Services	2.3%	2.7%
Consumer Defensive	1.9%	2.3%
Healthcare	1.8%	2.2%
Utilities	1.7%	2.2%
Real Estate	1.2%	1.3%

Return for Risk

FEMQ.L vs. FEME.L — Risk / Return Rank

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

FEMQ.L

FEMQ.L Risk / Return Rank: 93
FEMQ.L Sharpe Ratio Rank: 94
FEMQ.L Sortino Ratio Rank: 94
FEMQ.L Omega Ratio Rank: 94
FEMQ.L Calmar Ratio Rank: 93
FEMQ.L Martin Ratio Rank: 91

FEME.L

FEME.L Risk / Return Rank: 85
FEME.L Sharpe Ratio Rank: 86
FEME.L Sortino Ratio Rank: 88
FEME.L Omega Ratio Rank: 86
FEME.L Calmar Ratio Rank: 84
FEME.L Martin Ratio Rank: 82

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.

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

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

	FEMQ.L	FEME.L	Difference
Sharpe ratio: Return per unit of total volatility	3.52	3.03	+0.49
Sortino ratio: Return per unit of downside risk	4.87	4.23	+0.64
Omega ratio: Gain probability vs. loss probability	1.67	1.57	+0.10
Calmar ratio: Return relative to maximum drawdown	6.48	5.79	+0.69
Martin ratio: Return relative to average drawdown	21.32	18.18	+3.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEMQ.L vs. FEME.L - Sharpe Ratio Comparison

The current FEMQ.L Sharpe Ratio is 3.52, which is comparable to the FEME.L Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of FEMQ.L and FEME.L, 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

	FEMQ.L	FEME.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.52	3.03	+0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.36	+0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.36	+0.13

Drawdowns

FEMQ.L vs. FEME.L - Drawdown Comparison

The maximum FEMQ.L drawdown since its inception was -28.13%, roughly equal to the maximum FEME.L drawdown of -29.32%. Use the drawdown chart below to compare losses from any high point for FEMQ.L and FEME.L.

Drawdown Indicators

	FEMQ.L	FEME.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.13%	-29.32%	+1.19%
Max Drawdown (1Y) Largest decline over 1 year	-8.78%	-8.99%	+0.21%
Max Drawdown (3Y) Largest decline over 3 years	-14.75%	-15.37%	+0.62%
Max Drawdown (5Y) Largest decline over 5 years	-25.31%	-29.32%	+4.01%
Current Drawdown Current decline from peak	-4.07%	-3.75%	-0.32%
Average Drawdown Average peak-to-trough decline	-8.03%	-12.76%	+4.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	2.87%	-0.20%

Volatility

FEMQ.L vs. FEME.L - Volatility Comparison

Fidelity Emerging Markets Quality Income UCITS ETF (FEMQ.L) and Fidelity Emerging Markets Quality Income UCITS ETF USD Inc (FEME.L) have volatilities of 9.03% and 8.86%, 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

	FEMQ.L	FEME.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.03%	8.86%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	14.19%	15.11%	-0.92%
Volatility (1Y) Calculated over the trailing 1-year period	16.18%	17.20%	-1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.00%	15.98%	-0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.50%	18.65%	-1.15%

FEMQ.L vs. FEME.L - Expense Ratio Comparison

Both FEMQ.L and FEME.L have an expense ratio of 0.50%.

Dividends

FEMQ.L vs. FEME.L - Dividend Comparison

Neither FEMQ.L nor FEME.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FEMQ.L and FEME.L in my portfolio?

With a correlation of 0.92, FEMQ.L and FEME.L 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 ETF is better, FEMQ.L or FEME.L?

Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FEMQ.L or FEME.L?

FEMQ.L and FEME.L have the same expense ratio: 0.50% per year.

What is the main difference between FEMQ.L and FEME.L?

FEMQ.L is categorized as Emerging Markets Equities, while FEME.L is Emerging Markets Diversified. FEMQ.L tracks MSCI EM NR USD, while FEME.L tracks Fidelity Emerging Markets Quality Income Index.