FFEM vs. DEMD.L

Last updated Jul 17, 2026

FFEM (Fidelity Fundamental Emerging Markets ETF) and DEMD.L (WisdomTree Emerging Markets High Dividend UCITS ETF USD (Dist)) are both exchange-traded funds - FFEM is a Emerging Markets Diversified fund managed by Fidelity, while DEMD.L is a Emerging Markets Equities fund tracking the WisdomTree Emerging Markets High Dividend UCITS Index. Over the past year, FFEM returned 45.55% vs 20.60% for DEMD.L. A 0.63 correlation means they provide meaningful diversification when combined. FFEM charges 0.60%/yr vs 0.46%/yr for DEMD.L.

Performance

FFEM vs. DEMD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Emerging Markets ETF (FFEM) and WisdomTree Emerging Markets High Dividend UCITS ETF USD (Dist) (DEMD.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFEM achieves a 22.72% return, which is significantly higher than DEMD.L's 15.53% return.

FFEM

• 1D: -2.40%
• 1M: -6.41%
• 6M: 12.53%
• YTD: 22.72%
• 1Y: 45.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DEMD.L

• 1D: -1.10%
• 1M: -3.70%
• 6M: 12.00%
• YTD: 15.53%
• 1Y: 20.60%
• 3Y*: 16.38%
• 5Y*: 9.92%
• 10Y*: 8.84%

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

FFEM vs. DEMD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFEM Fidelity Fundamental Emerging Markets ETF	22.72%	40.03%	-10.18%
DEMD.L WisdomTree Emerging Markets High Dividend UCITS ETF USD (Dist)	15.53%	20.91%	-0.21%

Correlation

The correlation between FFEM and DEMD.L is 0.68, 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	0.68
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	0.63

The correlation between FFEM and DEMD.L has been stable across timeframes, ranging from 0.63 to 0.68 - a consistent structural relationship.

Return for Risk

FFEM vs. DEMD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FFEM

FFEM Risk / Return Rank: 72
FFEM Sharpe Ratio Rank: 70
FFEM Sortino Ratio Rank: 63
FFEM Omega Ratio Rank: 71
FFEM Calmar Ratio Rank: 80
FFEM Martin Ratio Rank: 77

DEMD.L

DEMD.L Risk / Return Rank: 55
DEMD.L Sharpe Ratio Rank: 51
DEMD.L Sortino Ratio Rank: 52
DEMD.L Omega Ratio Rank: 49
DEMD.L Calmar Ratio Rank: 67
DEMD.L Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FFEM vs. DEMD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Emerging Markets ETF (FFEM) and WisdomTree Emerging Markets High Dividend UCITS ETF USD (Dist) (DEMD.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.

	FFEM	DEMD.L	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.44	+0.36
Sortino ratio: Return per unit of downside risk	2.34	2.08	+0.27
Omega ratio: Gain probability vs. loss probability	1.33	1.26	+0.08
Calmar ratio: Return relative to maximum drawdown	3.37	2.69	+0.68
Martin ratio: Return relative to average drawdown	11.40	8.01	+3.40

FFEM vs. DEMD.L - Sharpe Ratio Comparison

The current FFEM Sharpe Ratio is 1.80, which is comparable to the DEMD.L Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of FFEM and DEMD.L, 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

FFEM vs. DEMD.L - Drawdown Comparison

The maximum FFEM drawdown since its inception was -18.17%, smaller than the maximum DEMD.L drawdown of -40.46%. Use the drawdown chart below to compare losses from any high point for FFEM and DEMD.L.

Drawdown Indicators

	FFEM	DEMD.L	Difference
Max Drawdown Largest peak-to-trough decline	-18.17%	-40.46%	+22.29%
Max Drawdown (1Y) Largest decline over 1 year	-13.57%	-7.63%	-5.94%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.59%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.69%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.40%	—
Current Drawdown Current decline from peak	-10.30%	-4.71%	-5.59%
Average Drawdown Average peak-to-trough decline	-3.72%	-10.04%	+6.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.01%	2.57%	+1.44%

Volatility

FFEM vs. DEMD.L - Volatility Comparison

Fidelity Fundamental Emerging Markets ETF (FFEM) has a higher volatility of 10.80% compared to WisdomTree Emerging Markets High Dividend UCITS ETF USD (Dist) (DEMD.L) at 4.59%. This indicates that FFEM's price experiences larger fluctuations and is considered to be riskier than DEMD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFEM	DEMD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.80%	4.59%	+6.21%
Volatility (6M) Calculated over the trailing 6-month period	23.21%	12.06%	+11.15%
Volatility (1Y) Calculated over the trailing 1-year period	25.40%	14.25%	+11.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.80%	15.06%	+9.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.80%	16.67%	+8.13%

FFEM vs. DEMD.L - Expense Ratio Comparison

FFEM has a 0.60% expense ratio, which is higher than DEMD.L's 0.46% expense ratio.

Dividends

FFEM vs. DEMD.L - Dividend Comparison

FFEM's dividend yield for the trailing twelve months is around 1.34%, less than DEMD.L's 3.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEMD.L WisdomTree Emerging Markets High Dividend UCITS ETF USD (Dist)	3.72%	4.42%	7.88%	6.68%	7.48%	4.20%	4.51%	4.13%	4.39%	1.98%	1.68%	4.75%
FFEM Fidelity Fundamental Emerging Markets ETF	1.34%	1.59%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FFEM and DEMD.L in my portfolio?

FFEM and DEMD.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FFEM or DEMD.L?

On fees, DEMD.L is cheaper at 0.46% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FFEM or DEMD.L?

DEMD.L is cheaper with a 0.46% expense ratio, compared with 0.60% for FFEM.

What is the main difference between FFEM and DEMD.L?

FFEM is categorized as Emerging Markets Diversified, while DEMD.L is Emerging Markets Equities. They also come from different issuers: Fidelity and WisdomTree. Their fees differ too: 0.60% for FFEM and 0.46% for DEMD.L.