FEMS vs. TDEC
FEMS (First Trust Emerging Markets Small Cap AlphaDEX Fund) and TDEC (FT Vest Emerging Markets Buffer ETF - December) are both exchange-traded funds - FEMS is a Emerging Markets Equities fund tracking the NASDAQ AlphaDEX EM Small Cap Index, while TDEC is a Defined Outcome fund tracking the MSCI Emerging Markets. Both are passively managed. Over the past year, FEMS returned 24.48% vs 24.15% for TDEC. A 0.72 correlation means they provide meaningful diversification when combined. FEMS charges 0.80%/yr vs 0.95%/yr for TDEC.
Performance
FEMS vs. TDEC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FEMS achieves a 12.16% return, which is significantly higher than TDEC's 9.14% return.
FEMS
- 1D
- -1.87%
- 1M
- -0.95%
- YTD
- 12.16%
- 6M
- 11.13%
- 1Y
- 24.48%
- 3Y*
- 13.68%
- 5Y*
- 4.43%
- 10Y*
- 9.49%
TDEC
- 1D
- -0.33%
- 1M
- 1.54%
- YTD
- 9.14%
- 6M
- 11.08%
- 1Y
- 24.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FEMS vs. TDEC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund | 12.16% | 16.48% | -0.17% |
TDEC FT Vest Emerging Markets Buffer ETF - December | 9.14% | 21.39% | -0.70% |
Correlation
The correlation between FEMS and TDEC is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Dec 24, 2024 | 0.72 |
The correlation between FEMS and TDEC has been stable across timeframes, ranging from 0.71 to 0.72 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FEMS vs. TDEC — Risk / Return Rank
FEMS
TDEC
FEMS vs. TDEC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Emerging Markets Small Cap AlphaDEX Fund (FEMS) 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.
| FEMS | TDEC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.54 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 2.97 | -0.11 |
| Martin ratioReturn relative to average drawdown | 7.50 | 13.07 | -5.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| FEMS | TDEC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.55 | 2.41 | -0.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 1.81 | -1.53 |
Drawdowns
FEMS vs. TDEC - Drawdown Comparison
The maximum FEMS drawdown since its inception was -47.85%, which is greater than TDEC's maximum drawdown of -10.30%. Use the drawdown chart below to compare losses from any high point for FEMS and TDEC.
Loading charts...
Drawdown Indicators
| FEMS | TDEC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.85% | -10.30% | -37.55% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -8.16% | -0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -21.09% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.89% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.85% | — | — |
Current DrawdownCurrent decline from peak | -4.88% | -0.33% | -4.55% |
Average DrawdownAverage peak-to-trough decline | -17.41% | -1.04% | -16.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 1.85% | +1.42% |
Volatility
FEMS vs. TDEC - Volatility Comparison
First Trust Emerging Markets Small Cap AlphaDEX Fund (FEMS) has a higher volatility of 6.37% compared to FT Vest Emerging Markets Buffer ETF - December (TDEC) at 2.81%. This indicates that FEMS'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.
Loading charts...
Volatility by Period
| FEMS | TDEC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.37% | 2.81% | +3.56% |
Volatility (6M)Calculated over the trailing 6-month period | 12.98% | 9.02% | +3.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.84% | 10.09% | +5.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.79% | 11.75% | +6.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.97% | 11.75% | +8.22% |
FEMS vs. TDEC - Expense Ratio Comparison
FEMS has a 0.80% expense ratio, which is lower than TDEC's 0.95% expense ratio.
Dividends
FEMS vs. TDEC - Dividend Comparison
FEMS's dividend yield for the trailing twelve months is around 4.28%, while TDEC has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund | 4.28% | 4.27% | 3.97% | 4.65% | 4.55% | 6.25% | 2.90% | 4.37% | 4.68% | 3.39% | 2.42% | 3.28% |
TDEC FT Vest Emerging Markets Buffer ETF - December | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FEMS and TDEC have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FEMS has higher volatility (6.37%) compared to TDEC (2.81%). In terms of maximum drawdown, FEMS dropped -47.85% vs TDEC's -10.30%.
On 1-year performance, FEMS leads with 24.48% vs 24.15% for TDEC. On fees, FEMS is cheaper at 0.80% per year. On volatility, TDEC has been the lower-risk option at 2.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FEMS has performed better with a 24.48% return vs 24.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FEMS is cheaper with a 0.80% expense ratio, compared with 0.95% for TDEC.
FEMS has the higher dividend yield at 4.28%, compared with 0.00% for TDEC.
FEMS is categorized as Emerging Markets Equities, while TDEC is Defined Outcome. FEMS tracks NASDAQ AlphaDEX EM Small Cap Index, while TDEC tracks MSCI Emerging Markets. They also come from different issuers: First Trust and FT Vest. Their fees differ too: 0.80% for FEMS and 0.95% for TDEC.
TDEC currently has the higher Sharpe Ratio (2.41 vs 1.55), 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.
Find the right allocation for FEMS and TDEC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer