FEMR vs. BBEM

Last updated Jun 24, 2026

FEMR (Fidelity Enhanced Emerging Markets ETF) and BBEM (JPMorgan Betabuilders Emerging Markets Equity ETF) are both Emerging Markets Diversified funds. FEMR is actively managed, while BBEM is passively managed. Over the past year, FEMR returned 55.15% vs 44.01% for BBEM. Their correlation of 0.94 suggests significant overlap in exposure. FEMR charges 0.38%/yr vs 0.15%/yr for BBEM.

Performance

FEMR vs. BBEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Emerging Markets ETF (FEMR) and JPMorgan Betabuilders Emerging Markets Equity ETF (BBEM). 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 higher than BBEM's 21.92% return.

FEMR

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

BBEM

• 1D: -5.86%
• 1M: 2.04%
• YTD: 21.92%
• 6M: 22.38%
• 1Y: 44.01%
• 3Y*: 21.42%
• 5Y*: —
• 10Y*: —

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

FEMR vs. BBEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FEMR Fidelity Enhanced Emerging Markets ETF	29.38%	35.27%	-1.48%
BBEM JPMorgan Betabuilders Emerging Markets Equity ETF	21.92%	32.43%	-2.56%

Correlation

The correlation between FEMR and BBEM is 0.93, 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	0.93
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	0.94

The correlation between FEMR and BBEM has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

Return for Risk

FEMR vs. BBEM — 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

BBEM

BBEM Risk / Return Rank: 67
BBEM Sharpe Ratio Rank: 65
BBEM Sortino Ratio Rank: 58
BBEM Omega Ratio Rank: 69
BBEM Calmar Ratio Rank: 71
BBEM Martin Ratio Rank: 72

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. BBEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Emerging Markets ETF (FEMR) and JPMorgan Betabuilders Emerging Markets Equity ETF (BBEM). 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	BBEM	Difference
Sharpe ratio: Return per unit of total volatility	2.33	1.98	+0.35
Sortino ratio: Return per unit of downside risk	2.90	2.57	+0.33
Omega ratio: Gain probability vs. loss probability	1.44	1.38	+0.06
Calmar ratio: Return relative to maximum drawdown	3.83	3.37	+0.46
Martin ratio: Return relative to average drawdown	14.57	12.56	+2.01

FEMR vs. BBEM - Sharpe Ratio Comparison

The current FEMR Sharpe Ratio is 2.33, which is comparable to the BBEM Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of FEMR and BBEM, 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. BBEM - Drawdown Comparison

The maximum FEMR drawdown since its inception was -15.58%, smaller than the maximum BBEM drawdown of -17.42%. Use the drawdown chart below to compare losses from any high point for FEMR and BBEM.

Drawdown Indicators

	FEMR	BBEM	Difference
Max Drawdown Largest peak-to-trough decline	-15.58%	-17.42%	+1.84%
Max Drawdown (1Y) Largest decline over 1 year	-14.47%	-13.12%	-1.35%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.42%	—
Current Drawdown Current decline from peak	-5.78%	-5.86%	+0.08%
Average Drawdown Average peak-to-trough decline	-2.38%	-3.71%	+1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	3.51%	+0.29%

Volatility

FEMR vs. BBEM - Volatility Comparison

Fidelity Enhanced Emerging Markets ETF (FEMR) and JPMorgan Betabuilders Emerging Markets Equity ETF (BBEM) have volatilities of 12.62% and 12.60%, 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	BBEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.62%	12.60%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	21.66%	20.54%	+1.12%
Volatility (1Y) Calculated over the trailing 1-year period	23.80%	22.39%	+1.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.78%	18.48%	+4.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.78%	18.48%	+4.30%

FEMR vs. BBEM - Expense Ratio Comparison

FEMR has a 0.38% expense ratio, which is higher than BBEM's 0.15% expense ratio.

Dividends

FEMR vs. BBEM - Dividend Comparison

FEMR's dividend yield for the trailing twelve months is around 1.48%, less than BBEM's 4.78% yield.

Position	TTM	2025	2024	2023
BBEM JPMorgan Betabuilders Emerging Markets Equity ETF	4.78%	5.86%	2.73%	1.94%
FEMR Fidelity Enhanced Emerging Markets ETF	1.48%	1.92%	0.37%	0.00%

Frequently Asked Questions

Can I hold both FEMR and BBEM in my portfolio?

With a correlation of 0.93, FEMR and BBEM 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, FEMR or BBEM?

FEMR has higher volatility (12.62%) compared to BBEM (12.60%). In terms of maximum drawdown, FEMR dropped -15.58% vs BBEM's -17.42%.

Which ETF is better, FEMR or BBEM?

On 1-year performance, FEMR leads with 55.15% vs 44.01% for BBEM. On fees, BBEM is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEMR or BBEM?

Over the 1-year period, FEMR has performed better with a 55.15% return vs 44.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEMR or BBEM?

BBEM is cheaper with a 0.15% expense ratio, compared with 0.38% for FEMR.

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

BBEM has the higher dividend yield at 4.78%, compared with 1.48% for FEMR.

What is the main difference between FEMR and BBEM?

They also come from different issuers: Fidelity and JPMorgan. Their fees differ too: 0.38% for FEMR and 0.15% for BBEM.

Which has better risk-adjusted returns?

FEMR currently has the higher Sharpe Ratio (2.33 vs 1.98), 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.