FEMR vs. AVXC

Last updated Jun 24, 2026

FEMR (Fidelity Enhanced Emerging Markets ETF) and AVXC (Avantis Emerging Markets ex-China Equity ETF) are both Emerging Markets Diversified funds. Both are actively managed. Over the past year, FEMR returned 55.15% vs 56.20% for AVXC. Their correlation of 0.87 suggests significant overlap in exposure. FEMR charges 0.38%/yr vs 0.33%/yr for AVXC.

Performance

FEMR vs. AVXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Emerging Markets ETF (FEMR) and Avantis Emerging Markets ex-China Equity ETF (AVXC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEMR achieves a 29.38% return, which is significantly lower than AVXC's 31.52% return.

FEMR

• 1D: -5.78%
• 1M: 3.04%
• YTD: 29.38%
• 6M: 31.28%
• 1Y: 55.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVXC

• 1D: -5.67%
• 1M: 3.81%
• YTD: 31.52%
• 6M: 32.82%
• 1Y: 56.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FEMR vs. AVXC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FEMR Fidelity Enhanced Emerging Markets ETF	29.38%	35.27%	-1.48%
AVXC Avantis Emerging Markets ex-China Equity ETF	31.52%	31.45%	-2.38%

Correlation

The correlation between FEMR and AVXC is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	0.87

The correlation between FEMR and AVXC has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

FEMR vs. AVXC — Risk / Return Rank

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

FEMR

FEMR Risk / Return Rank: 77
FEMR Sharpe Ratio Rank: 78
FEMR Sortino Ratio Rank: 68
FEMR Omega Ratio Rank: 80
FEMR Calmar Ratio Rank: 79
FEMR Martin Ratio Rank: 79

AVXC

AVXC Risk / Return Rank: 80
AVXC Sharpe Ratio Rank: 81
AVXC Sortino Ratio Rank: 73
AVXC Omega Ratio Rank: 82
AVXC Calmar Ratio Rank: 81
AVXC 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.

FEMR vs. AVXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Emerging Markets ETF (FEMR) and Avantis Emerging Markets ex-China Equity ETF (AVXC). 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.

	FEMR	AVXC	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.45	-0.12
Sortino ratio: Return per unit of downside risk	2.90	3.07	-0.17
Omega ratio: Gain probability vs. loss probability	1.44	1.46	-0.02
Calmar ratio: Return relative to maximum drawdown	3.83	4.02	-0.19
Martin ratio: Return relative to average drawdown	14.57	15.56	-0.99

FEMR vs. AVXC - Sharpe Ratio Comparison

The current FEMR Sharpe Ratio is 2.33, which is comparable to the AVXC Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of FEMR and AVXC, 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

FEMR vs. AVXC - Drawdown Comparison

The maximum FEMR drawdown since its inception was -15.58%, smaller than the maximum AVXC drawdown of -20.44%. Use the drawdown chart below to compare losses from any high point for FEMR and AVXC.

Drawdown Indicators

	FEMR	AVXC	Difference
Max Drawdown Largest peak-to-trough decline	-15.58%	-20.44%	+4.86%
Max Drawdown (1Y) Largest decline over 1 year	-14.47%	-14.04%	-0.43%
Current Drawdown Current decline from peak	-5.78%	-5.67%	-0.11%
Average Drawdown Average peak-to-trough decline	-2.38%	-3.79%	+1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	3.62%	+0.18%

Volatility

FEMR vs. AVXC - Volatility Comparison

Fidelity Enhanced Emerging Markets ETF (FEMR) and Avantis Emerging Markets ex-China Equity ETF (AVXC) have volatilities of 12.62% and 13.12%, 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

	FEMR	AVXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.62%	13.12%	-0.50%
Volatility (6M) Calculated over the trailing 6-month period	21.66%	21.15%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	23.80%	23.03%	+0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.78%	19.83%	+2.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.78%	19.83%	+2.95%

FEMR vs. AVXC - Expense Ratio Comparison

FEMR has a 0.38% expense ratio, which is higher than AVXC's 0.33% expense ratio.

Dividends

FEMR vs. AVXC - Dividend Comparison

FEMR's dividend yield for the trailing twelve months is around 1.48%, less than AVXC's 2.06% yield.

Position	TTM	2025	2024
AVXC Avantis Emerging Markets ex-China Equity ETF	2.06%	1.97%	1.34%
FEMR Fidelity Enhanced Emerging Markets ETF	1.48%	1.92%	0.37%

Frequently Asked Questions

Can I hold both FEMR and AVXC in my portfolio?

FEMR and AVXC have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEMR or AVXC?

AVXC has higher volatility (13.12%) compared to FEMR (12.62%). In terms of maximum drawdown, FEMR dropped -15.58% vs AVXC's -20.44%.

Which ETF is better, FEMR or AVXC?

On 1-year performance, AVXC leads with 56.20% vs 55.15% for FEMR. On fees, AVXC is cheaper at 0.33% per year. On volatility, FEMR has been the lower-risk option at 12.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEMR or AVXC?

Over the 1-year period, AVXC has performed better with a 56.20% return vs 55.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEMR or AVXC?

AVXC is cheaper with a 0.33% expense ratio, compared with 0.38% for FEMR.

Which ETF pays a higher dividend yield, FEMR or AVXC?

AVXC has the higher dividend yield at 2.06%, compared with 1.48% for FEMR.

What is the main difference between FEMR and AVXC?

They also come from different issuers: Fidelity and Avantis. Their fees differ too: 0.38% for FEMR and 0.33% for AVXC.

Which has better risk-adjusted returns?

AVXC currently has the higher Sharpe Ratio (2.45 vs 2.33), 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.