FEMSX vs. SPEM
Compare and contrast key facts about Fidelity Series Emerging Markets Opportunities Fund (FEMSX) and SPDR Portfolio Emerging Markets ETF (SPEM).
FEMSX is managed by Fidelity. It was launched on Dec 9, 2008. SPEM is a passively managed fund by State Street that tracks the performance of the S&P Emerging Markets BMI. It was launched on Mar 19, 2007.
Performance
FEMSX vs. SPEM - Performance Comparison
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FEMSX vs. SPEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FEMSX Fidelity Series Emerging Markets Opportunities Fund | 5.44% | 37.92% | 7.84% | 14.23% | -23.95% | -5.14% | 24.72% | 28.87% | -16.20% | 49.92% |
SPEM SPDR Portfolio Emerging Markets ETF | 0.56% | 25.63% | 11.40% | 10.51% | -17.90% | 1.51% | 14.55% | 19.69% | -13.26% | 34.82% |
Returns By Period
In the year-to-date period, FEMSX achieves a 5.44% return, which is significantly higher than SPEM's 0.56% return. Over the past 10 years, FEMSX has outperformed SPEM with an annualized return of 10.88%, while SPEM has yielded a comparatively lower 8.20% annualized return.
FEMSX
- 1D
- 3.55%
- 1M
- -8.32%
- YTD
- 5.44%
- 6M
- 10.54%
- 1Y
- 38.82%
- 3Y*
- 19.32%
- 5Y*
- 4.35%
- 10Y*
- 10.88%
SPEM
- 1D
- 0.34%
- 1M
- -5.46%
- YTD
- 0.56%
- 6M
- 1.60%
- 1Y
- 22.62%
- 3Y*
- 14.52%
- 5Y*
- 4.36%
- 10Y*
- 8.20%
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FEMSX vs. SPEM - Expense Ratio Comparison
FEMSX has a 0.01% expense ratio, which is lower than SPEM's 0.11% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
FEMSX vs. SPEM — Risk / Return Rank
FEMSX
SPEM
FEMSX vs. SPEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Emerging Markets Opportunities Fund (FEMSX) and SPDR Portfolio Emerging Markets ETF (SPEM). 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.
| FEMSX | SPEM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.08 | 1.28 | +0.80 |
Sortino ratioReturn per unit of downside risk | 2.68 | 1.79 | +0.89 |
Omega ratioGain probability vs. loss probability | 1.40 | 1.26 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 2.89 | 1.87 | +1.02 |
Martin ratioReturn relative to average drawdown | 11.41 | 7.12 | +4.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FEMSX | SPEM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 1.28 | +0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.26 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.44 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.21 | +0.29 |
Correlation
The correlation between FEMSX and SPEM is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FEMSX vs. SPEM - Dividend Comparison
FEMSX's dividend yield for the trailing twelve months is around 2.32%, less than SPEM's 2.76% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEMSX Fidelity Series Emerging Markets Opportunities Fund | 2.32% | 2.45% | 2.08% | 2.82% | 2.39% | 12.83% | 2.99% | 2.48% | 9.42% | 8.98% | 1.46% | 1.27% |
SPEM SPDR Portfolio Emerging Markets ETF | 2.76% | 2.77% | 2.78% | 2.80% | 3.38% | 3.14% | 1.92% | 2.94% | 2.34% | 1.12% | 1.51% | 2.40% |
Drawdowns
FEMSX vs. SPEM - Drawdown Comparison
The maximum FEMSX drawdown since its inception was -44.16%, smaller than the maximum SPEM drawdown of -64.41%. Use the drawdown chart below to compare losses from any high point for FEMSX and SPEM.
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Drawdown Indicators
| FEMSX | SPEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.16% | -64.41% | +20.25% |
Max Drawdown (1Y)Largest decline over 1 year | -13.42% | -12.35% | -1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -41.64% | -31.94% | -9.70% |
Max Drawdown (10Y)Largest decline over 10 years | -44.16% | -36.06% | -8.10% |
Current DrawdownCurrent decline from peak | -10.35% | -8.25% | -2.10% |
Average DrawdownAverage peak-to-trough decline | -13.52% | -14.87% | +1.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 3.25% | +0.15% |
Volatility
FEMSX vs. SPEM - Volatility Comparison
Fidelity Series Emerging Markets Opportunities Fund (FEMSX) has a higher volatility of 10.41% compared to SPDR Portfolio Emerging Markets ETF (SPEM) at 7.45%. This indicates that FEMSX's price experiences larger fluctuations and is considered to be riskier than SPEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEMSX | SPEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.41% | 7.45% | +2.96% |
Volatility (6M)Calculated over the trailing 6-month period | 14.73% | 12.23% | +2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.16% | 17.79% | +1.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.65% | 16.94% | +1.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.13% | 18.75% | +0.38% |