FEMVX vs. EVLU
FEMVX (Fidelity SAI Emerging Markets Value Index Fund) and EVLU (iShares MSCI Emerging Markets Value Factor ETF) are both funds - FEMVX is a Emerging Markets Diversified fund managed by Fidelity, while EVLU is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Value Factor Select Index (Net). Over the past year, FEMVX returned 65.30% vs 59.59% for EVLU. Their correlation of 0.89 suggests significant overlap in exposure. FEMVX charges 0.22%/yr vs 0.35%/yr for EVLU.
Performance
FEMVX vs. EVLU - Performance Comparison
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Returns By Period
In the year-to-date period, FEMVX achieves a 37.00% return, which is significantly higher than EVLU's 28.98% return.
FEMVX
- 1D
- 0.39%
- 1M
- 8.36%
- YTD
- 37.00%
- 6M
- 39.06%
- 1Y
- 65.30%
- 3Y*
- 30.57%
- 5Y*
- 13.92%
- 10Y*
- —
EVLU
- 1D
- -3.07%
- 1M
- 3.10%
- YTD
- 28.98%
- 6M
- 30.29%
- 1Y
- 59.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FEMVX vs. EVLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FEMVX Fidelity SAI Emerging Markets Value Index Fund | 37.00% | 33.95% | -1.05% |
EVLU iShares MSCI Emerging Markets Value Factor ETF | 28.98% | 38.54% | 1.21% |
Correlation
The correlation between FEMVX and EVLU is 0.91, 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 | 0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024 | 0.89 |
The correlation between FEMVX and EVLU has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.
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Return for Risk
FEMVX vs. EVLU — Risk / Return Rank
FEMVX
EVLU
FEMVX vs. EVLU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Emerging Markets Value Index Fund (FEMVX) and iShares MSCI Emerging Markets Value Factor ETF (EVLU). 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.
| FEMVX | EVLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.53 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 5.43 | 4.64 | +0.79 |
| Martin ratioReturn relative to average drawdown | 19.99 | 16.27 | +3.71 |
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Drawdowns
FEMVX vs. EVLU - Drawdown Comparison
The maximum FEMVX drawdown since its inception was -30.54%, which is greater than EVLU's maximum drawdown of -17.17%. Use the drawdown chart below to compare losses from any high point for FEMVX and EVLU.
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Drawdown Indicators
| FEMVX | EVLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.54% | -17.17% | -13.37% |
Max Drawdown (1Y)Largest decline over 1 year | -12.20% | -12.90% | +0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -15.64% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.99% | — | — |
Current DrawdownCurrent decline from peak | -0.26% | -5.94% | +5.68% |
Average DrawdownAverage peak-to-trough decline | -7.65% | -3.52% | -4.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 3.67% | -0.36% |
Volatility
FEMVX vs. EVLU - Volatility Comparison
Fidelity SAI Emerging Markets Value Index Fund (FEMVX) has a higher volatility of 10.76% compared to iShares MSCI Emerging Markets Value Factor ETF (EVLU) at 9.29%. This indicates that FEMVX's price experiences larger fluctuations and is considered to be riskier than EVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEMVX | EVLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.76% | 9.29% | +1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 17.40% | 17.64% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.42% | 20.18% | -0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.30% | 20.36% | -4.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.40% | 20.36% | -3.96% |
FEMVX vs. EVLU - Expense Ratio Comparison
FEMVX has a 0.22% expense ratio, which is lower than EVLU's 0.35% expense ratio.
Dividends
FEMVX vs. EVLU - Dividend Comparison
FEMVX's dividend yield for the trailing twelve months is around 2.90%, less than EVLU's 3.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
EVLU iShares MSCI Emerging Markets Value Factor ETF | 3.77% | 5.20% | 1.03% | 0.00% | 0.00% | 0.00% |
FEMVX Fidelity SAI Emerging Markets Value Index Fund | 2.90% | 3.97% | 3.65% | 4.73% | 4.87% | 5.00% |
Frequently Asked Questions
With a correlation of 0.91, FEMVX and EVLU 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.
FEMVX has higher volatility (10.76%) compared to EVLU (9.29%). In terms of maximum drawdown, FEMVX dropped -30.54% vs EVLU's -17.17%.
FEMVX currently has the higher Sharpe Ratio (3.42 vs 2.97), 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.
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