FFEM vs. EMDV

Last updated Aug 1, 2026

FFEM (Fidelity Fundamental Emerging Markets ETF) and EMDV (ProShares MSCI Emerging Markets Dividend Growers ETF) are both Emerging Markets Equities funds. FFEM is actively managed, while EMDV is passively managed. Over the past year, FFEM returned 46.94% vs 6.10% for EMDV. Their 0.70 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.60% expense ratio.

Performance

FFEM vs. EMDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Emerging Markets ETF (FFEM) and ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFEM achieves a 23.20% return, which is significantly higher than EMDV's 1.51% return.

FFEM

• 1D: 0.59%
• 1M: -2.11%
• 6M: 12.60%
• YTD: 23.20%
• 1Y: 46.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 29.60%

EMDV

• 1D: -0.18%
• 1M: 4.30%
• 6M: 0.72%
• YTD: 1.51%
• 1Y: 6.10%
• 3Y*: 1.66%
• 5Y*: -1.50%
• 10Y*: 1.95%
• ALL TIME*: 4.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF	$3.04K	$6.93K	$10.37K
FFEM Fidelity Fundamental Emerging Markets ETF	$1.53M	$1.01M	$840.57K

FFEM vs. EMDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFEM Fidelity Fundamental Emerging Markets ETF	23.20%	40.03%	-10.18%
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF	1.51%	11.90%	-2.90%

Correlation

The correlation between FFEM and EMDV is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	0.70

The correlation between FFEM and EMDV has been stable across timeframes, ranging from 0.65 to 0.70 - a consistent structural relationship.

Return for Risk

FFEM vs. EMDV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FFEM

FFEM Risk / Return Rank: 78
FFEM Sharpe Ratio Rank: 77
FFEM Sortino Ratio Rank: 72
FFEM Omega Ratio Rank: 77
FFEM Calmar Ratio Rank: 84
FFEM Martin Ratio Rank: 79

EMDV

EMDV Risk / Return Rank: 23
EMDV Sharpe Ratio Rank: 23
EMDV Sortino Ratio Rank: 22
EMDV Omega Ratio Rank: 22
EMDV Calmar Ratio Rank: 26
EMDV Martin Ratio Rank: 25

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FFEM vs. EMDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Emerging Markets ETF (FFEM) and ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV). 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	EMDV	Difference
Sharpe ratio: Return per unit of total volatility	1.76	0.50	+1.26
Sortino ratio: Return per unit of downside risk	2.32	0.79	+1.53
Omega ratio: Gain probability vs. loss probability	1.32	1.10	+0.22
Calmar ratio: Return relative to maximum drawdown	3.17	0.81	+2.37
Martin ratio: Return relative to average drawdown	9.99	1.92	+8.07

FFEM vs. EMDV - Sharpe Ratio Comparison

The current FFEM Sharpe Ratio is 1.76, which is higher than the EMDV Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of FFEM and EMDV, 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. EMDV - Drawdown Comparison

The maximum FFEM drawdown since its inception was -18.17%, smaller than the maximum EMDV drawdown of -39.20%. Use the drawdown chart below to compare losses from any high point for FFEM and EMDV.

Drawdown Indicators

	FFEM	EMDV	Difference
Max Drawdown Largest peak-to-trough decline	-18.17%	-39.20%	+21.03%
Max Drawdown (1Y) Largest decline over 1 year	-14.53%	-7.24%	-7.29%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.37%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.20%	—
Current Drawdown Current decline from peak	-9.95%	-14.51%	+4.56%
Average Drawdown Average peak-to-trough decline	-3.90%	-13.59%	+9.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.60%	3.04%	+1.56%

Volatility

FFEM vs. EMDV - Volatility Comparison

Fidelity Fundamental Emerging Markets ETF (FFEM) has a higher volatility of 9.93% compared to ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) at 3.09%. This indicates that FFEM's price experiences larger fluctuations and is considered to be riskier than EMDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFEM	EMDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.93%	3.09%	+6.84%
Volatility (6M) Calculated over the trailing 6-month period	23.77%	9.93%	+13.84%
Volatility (1Y) Calculated over the trailing 1-year period	26.25%	11.68%	+14.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.05%	15.41%	+9.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.05%	17.99%	+7.06%

FFEM vs. EMDV - Expense Ratio Comparison

Both FFEM and EMDV have an expense ratio of 0.60%.

Dividends

FFEM vs. EMDV - Dividend Comparison

FFEM's dividend yield for the trailing twelve months is around 1.33%, less than EMDV's 1.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF	1.90%	2.46%	2.79%	1.88%	3.68%	2.12%	3.12%	2.38%	1.27%	2.09%	2.87%
FFEM Fidelity Fundamental Emerging Markets ETF	1.33%	1.59%	0.16%	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 EMDV in my portfolio?

FFEM and EMDV have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFEM or EMDV?

FFEM has higher volatility (9.93%) compared to EMDV (3.09%). In terms of maximum drawdown, FFEM dropped -18.17% vs EMDV's -39.20%.

Which ETF is better, FFEM or EMDV?

On 1-year performance, FFEM leads with 46.94% vs 6.10% for EMDV. Both ETFs have the same 0.60% expense ratio. On volatility, EMDV has been the lower-risk option at 3.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFEM or EMDV?

Over the 1-year period, FFEM has performed better with a 46.94% return vs 6.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFEM or EMDV?

FFEM and EMDV have the same expense ratio: 0.60% per year.

Which ETF pays a higher dividend yield, FFEM or EMDV?

EMDV has the higher dividend yield at 1.90%, compared with 1.33% for FFEM.

What is the main difference between FFEM and EMDV?

They also come from different issuers: Fidelity and ProShares.

Which has better risk-adjusted returns?

FFEM currently has the higher Sharpe Ratio (1.76 vs 0.50), 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.