FEMU.L vs. MKUW.L
FEMU.L (First Trust Emerging Markets AlphaDEX UCITS ETF Class A USD (Acc)) and MKUW.L (Invesco MSCI Kuwait UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - FEMU.L tracks the Nasdaq AlphaDEX Emerging Markets NTR Index while MKUW.L tracks the MSCI Kuwait 20/35 Index. Both are passively managed. Over the past 5 years, FEMU.L returned 6.52%/yr vs 7.19%/yr for MKUW.L. At a 0.19 correlation, their price movements are largely independent. FEMU.L charges 0.80%/yr vs 0.50%/yr for MKUW.L.
Performance
FEMU.L vs. MKUW.L - Performance Comparison
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Returns By Period
In the year-to-date period, FEMU.L achieves a 12.60% return, which is significantly higher than MKUW.L's 0.15% return.
FEMU.L
- 1D
- -2.27%
- 1M
- -5.00%
- 6M
- 7.62%
- YTD
- 12.60%
- 1Y
- 27.56%
- 3Y*
- 15.27%
- 5Y*
- 6.52%
- 10Y*
- 7.83%
MKUW.L
- 1D
- -0.06%
- 1M
- -2.04%
- 6M
- 1.18%
- YTD
- 0.15%
- 1Y
- 3.43%
- 3Y*
- 7.89%
- 5Y*
- 7.19%
- 10Y*
- —
FEMU.L vs. MKUW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FEMU.L First Trust Emerging Markets AlphaDEX UCITS ETF Class A USD (Acc) | 12.60% | 27.57% | 3.49% | 10.14% | -13.81% | 7.06% | -0.52% | 8.53% |
MKUW.L Invesco MSCI Kuwait UCITS ETF USD (Acc) | 0.15% | 25.35% | 9.15% | -8.87% | 5.99% | 28.57% | -9.88% | 10.35% |
Correlation
The correlation between FEMU.L and MKUW.L is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2019 | 0.19 |
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Return for Risk
FEMU.L vs. MKUW.L — Risk / Return Rank
FEMU.L
MKUW.L
FEMU.L vs. MKUW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Emerging Markets AlphaDEX UCITS ETF Class A USD (Acc) (FEMU.L) and Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.L). 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.
| FEMU.L | MKUW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.05 | ||
| Sortino ratioReturn per unit of downside risk | +1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.07 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 0.46 | +3.14 |
| Martin ratioReturn relative to average drawdown | 8.85 | 1.05 | +7.80 |
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Drawdowns
FEMU.L vs. MKUW.L - Drawdown Comparison
The maximum FEMU.L drawdown since its inception was -45.58%, which is greater than MKUW.L's maximum drawdown of -37.76%. Use the drawdown chart below to compare losses from any high point for FEMU.L and MKUW.L.
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Drawdown Indicators
| FEMU.L | MKUW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.58% | -37.76% | -7.82% |
Max Drawdown (1Y)Largest decline over 1 year | -7.64% | -7.47% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -17.61% | -14.16% | -3.45% |
Max Drawdown (5Y)Largest decline over 5 years | -31.08% | -25.13% | -5.95% |
Max Drawdown (10Y)Largest decline over 10 years | -45.58% | — | — |
Current DrawdownCurrent decline from peak | -7.52% | -3.60% | -3.92% |
Average DrawdownAverage peak-to-trough decline | -12.38% | -9.42% | -2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 3.26% | -0.15% |
Volatility
FEMU.L vs. MKUW.L - Volatility Comparison
First Trust Emerging Markets AlphaDEX UCITS ETF Class A USD (Acc) (FEMU.L) has a higher volatility of 7.95% compared to Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.L) at 1.71%. This indicates that FEMU.L's price experiences larger fluctuations and is considered to be riskier than MKUW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEMU.L | MKUW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.95% | 1.71% | +6.24% |
Volatility (6M)Calculated over the trailing 6-month period | 16.41% | 8.01% | +8.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.76% | 10.26% | +9.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.33% | 12.76% | +6.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.53% | 16.49% | +4.04% |
FEMU.L vs. MKUW.L - Expense Ratio Comparison
FEMU.L has a 0.80% expense ratio, which is higher than MKUW.L's 0.50% expense ratio.
Dividends
FEMU.L vs. MKUW.L - Dividend Comparison
Neither FEMU.L nor MKUW.L has paid dividends to shareholders.
Frequently Asked Questions
FEMU.L and MKUW.L have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MKUW.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MKUW.L is cheaper with a 0.50% expense ratio, compared with 0.80% for FEMU.L.
FEMU.L tracks Nasdaq AlphaDEX Emerging Markets NTR Index, while MKUW.L tracks MSCI Kuwait 20/35 Index. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.80% for FEMU.L and 0.50% for MKUW.L.
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