FEMR vs. TDEC

Last updated Aug 1, 2026

FEMR (Fidelity Enhanced Emerging Markets ETF) and TDEC (FT Vest Emerging Markets Buffer ETF - December) are both exchange-traded funds - FEMR is a Emerging Markets Equities fund actively managed by Fidelity, while TDEC is a Defined Outcome fund tracking the MSCI Emerging Markets. FEMR is actively managed, while TDEC is passively managed. Over the past year, FEMR returned 43.13% vs 18.15% for TDEC. Their correlation of 0.90 means they have usually moved in the same direction. FEMR charges 0.38%/yr vs 0.95%/yr for TDEC.

Performance

FEMR vs. TDEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Emerging Markets ETF (FEMR) and FT Vest Emerging Markets Buffer ETF - December (TDEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEMR achieves a 22.16% return, which is significantly higher than TDEC's 8.27% return.

FEMR

• 1D: 1.39%
• 1M: -3.19%
• 6M: 11.47%
• YTD: 22.16%
• 1Y: 43.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 33.45%

TDEC

• 1D: 0.45%
• 1M: 0.74%
• 6M: 4.07%
• YTD: 8.27%
• 1Y: 18.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.05%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FEMR Fidelity Enhanced Emerging Markets ETF	$1.41M	$1.90M	$1.96M
TDEC FT Vest Emerging Markets Buffer ETF - December	$55.89K	$75.20K	$190.42K

FEMR vs. TDEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FEMR Fidelity Enhanced Emerging Markets ETF	22.16%	35.27%	-1.23%
TDEC FT Vest Emerging Markets Buffer ETF - December	8.27%	21.39%	-0.75%

Correlation

The correlation between FEMR and TDEC is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (All Time) Calculated using the full available price history since Dec 23, 2024	0.90

The correlation between FEMR and TDEC has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

Return for Risk

FEMR vs. TDEC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FEMR

FEMR Risk / Return Rank: 72
FEMR Sharpe Ratio Rank: 72
FEMR Sortino Ratio Rank: 66
FEMR Omega Ratio Rank: 74
FEMR Calmar Ratio Rank: 77
FEMR Martin Ratio Rank: 70

TDEC

TDEC Risk / Return Rank: 70
TDEC Sharpe Ratio Rank: 69
TDEC Sortino Ratio Rank: 67
TDEC Omega Ratio Rank: 80
TDEC Calmar Ratio Rank: 60
TDEC Martin Ratio Rank: 71

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FEMR vs. TDEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Emerging Markets ETF (FEMR) and FT Vest Emerging Markets Buffer ETF - December (TDEC). 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	TDEC	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.59	+0.05
Sortino ratio: Return per unit of downside risk	2.18	2.22	-0.05
Omega ratio: Gain probability vs. loss probability	1.31	1.34	-0.03
Calmar ratio: Return relative to maximum drawdown	2.71	2.16	+0.54
Martin ratio: Return relative to average drawdown	8.58	8.78	-0.20

FEMR vs. TDEC - Sharpe Ratio Comparison

The current FEMR Sharpe Ratio is 1.65, which is comparable to the TDEC Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of FEMR and TDEC, 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. TDEC - Drawdown Comparison

The maximum FEMR drawdown since its inception was -15.58%, which is greater than TDEC's maximum drawdown of -10.30%. Use the drawdown chart below to compare losses from any high point for FEMR and TDEC.

Drawdown Indicators

	FEMR	TDEC	Difference
Max Drawdown Largest peak-to-trough decline	-15.58%	-10.30%	-5.28%
Max Drawdown (1Y) Largest decline over 1 year	-15.48%	-8.16%	-7.32%
Current Drawdown Current decline from peak	-11.03%	-1.58%	-9.45%
Average Drawdown Average peak-to-trough decline	-2.80%	-1.12%	-1.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.87%	2.01%	+2.86%

Volatility

FEMR vs. TDEC - Volatility Comparison

Fidelity Enhanced Emerging Markets ETF (FEMR) has a higher volatility of 9.05% compared to FT Vest Emerging Markets Buffer ETF - December (TDEC) at 3.54%. This indicates that FEMR's price experiences larger fluctuations and is considered to be riskier than TDEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEMR	TDEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.05%	3.54%	+5.51%
Volatility (6M) Calculated over the trailing 6-month period	23.33%	10.30%	+13.03%
Volatility (1Y) Calculated over the trailing 1-year period	25.43%	11.07%	+14.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.28%	11.98%	+11.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.28%	11.98%	+11.30%

FEMR vs. TDEC - Expense Ratio Comparison

FEMR has a 0.38% expense ratio, which is lower than TDEC's 0.95% expense ratio.

Dividends

FEMR vs. TDEC - Dividend Comparison

FEMR's dividend yield for the trailing twelve months is around 1.56%, while TDEC has not paid dividends to shareholders.

Position	TTM	2025	2024
FEMR Fidelity Enhanced Emerging Markets ETF	1.56%	1.92%	0.37%
TDEC FT Vest Emerging Markets Buffer ETF - December	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEMR and TDEC in my portfolio?

FEMR and TDEC have a correlation of 0.88, 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 TDEC?

FEMR has higher volatility (9.05%) compared to TDEC (3.54%). In terms of maximum drawdown, FEMR dropped -15.58% vs TDEC's -10.30%.

Which ETF is better, FEMR or TDEC?

On 1-year performance, FEMR leads with 43.13% vs 18.15% for TDEC. On fees, FEMR is cheaper at 0.38% per year. On volatility, TDEC has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEMR or TDEC?

Over the 1-year period, FEMR has performed better with a 43.13% return vs 18.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEMR or TDEC?

FEMR is cheaper with a 0.38% expense ratio, compared with 0.95% for TDEC.

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

FEMR has the higher dividend yield at 1.56%, compared with 0.00% for TDEC.

What is the main difference between FEMR and TDEC?

FEMR is categorized as Emerging Markets Equities, while TDEC is Defined Outcome. They also come from different issuers: Fidelity and FT Vest. Their fees differ too: 0.38% for FEMR and 0.95% for TDEC.

Which has better risk-adjusted returns?

FEMR currently has the higher Sharpe Ratio (1.65 vs 1.59), 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.