FFEM vs. FTXL

Last updated Jun 4, 2026

FFEM (Fidelity Fundamental Emerging Markets ETF) and FTXL (First Trust Nasdaq Semiconductor ETF) are both exchange-traded funds - FFEM is a Emerging Markets Diversified fund managed by Fidelity, while FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index. Over the past year, FFEM returned 68.49% vs 225.15% for FTXL. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

FFEM vs. FTXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Emerging Markets ETF (FFEM) and First Trust Nasdaq Semiconductor ETF (FTXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFEM achieves a 33.06% return, which is significantly lower than FTXL's 115.70% return.

FFEM

• 1D: -1.56%
• 1M: 9.73%
• YTD: 33.06%
• 6M: 36.71%
• 1Y: 68.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FTXL

• 1D: 2.21%
• 1M: 30.59%
• YTD: 115.70%
• 6M: 113.17%
• 1Y: 225.15%
• 3Y*: 61.52%
• 5Y*: 34.63%
• 10Y*: —

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

FFEM vs. FTXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFEM Fidelity Fundamental Emerging Markets ETF	33.06%	40.03%	-2.27%
FTXL First Trust Nasdaq Semiconductor ETF	115.70%	48.94%	-1.36%

Correlation

The correlation between FFEM and FTXL 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 22, 2024	0.65

The correlation between FFEM and FTXL has been stable across timeframes, ranging from 0.65 to 0.68 - a consistent structural relationship.

Return for Risk

FFEM vs. FTXL — Risk / Return Rank

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

FFEM

FFEM Risk / Return Rank: 89
FFEM Sharpe Ratio Rank: 91
FFEM Sortino Ratio Rank: 88
FFEM Omega Ratio Rank: 89
FFEM Calmar Ratio Rank: 88
FFEM Martin Ratio Rank: 89

FTXL

FTXL Risk / Return Rank: 97
FTXL Sharpe Ratio Rank: 98
FTXL Sortino Ratio Rank: 96
FTXL Omega Ratio Rank: 96
FTXL Calmar Ratio Rank: 98
FTXL Martin Ratio Rank: 98

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. FTXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Emerging Markets ETF (FFEM) and First Trust Nasdaq Semiconductor ETF (FTXL). 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.

	FFEM	FTXL	Difference
Sharpe ratio Return per unit of total volatility	3.19	6.33	-3.13
Sortino ratio Return per unit of downside risk	4.00	5.74	-1.75
Omega ratio Gain probability vs. loss probability	1.56	1.78	-0.22
Calmar ratio Return relative to maximum drawdown	5.07	15.62	-10.55
Martin ratio Return relative to average drawdown	20.18	58.28	-38.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFEM vs. FTXL - Sharpe Ratio Comparison

The current FFEM Sharpe Ratio is 3.19, which is lower than the FTXL Sharpe Ratio of 6.33. The chart below compares the historical Sharpe Ratios of FFEM and FTXL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FFEM	FTXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.19	6.33	-3.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.21	0.94	+1.28

Drawdowns

FFEM vs. FTXL - Drawdown Comparison

The maximum FFEM drawdown since its inception was -16.29%, smaller than the maximum FTXL drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for FFEM and FTXL.

Drawdown Indicators

	FFEM	FTXL	Difference
Max Drawdown Largest peak-to-trough decline	-16.29%	-43.87%	+27.58%
Max Drawdown (1Y) Largest decline over 1 year	-13.57%	-14.51%	+0.94%
Max Drawdown (3Y) Largest decline over 3 years	—	-41.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.87%	—
Current Drawdown Current decline from peak	-1.56%	0.00%	-1.56%
Average Drawdown Average peak-to-trough decline	-2.41%	-10.56%	+8.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	3.88%	-0.47%

Volatility

FFEM vs. FTXL - Volatility Comparison

The current volatility for Fidelity Fundamental Emerging Markets ETF (FFEM) is 9.03%, while First Trust Nasdaq Semiconductor ETF (FTXL) has a volatility of 14.28%. This indicates that FFEM experiences smaller price fluctuations and is considered to be less risky than FTXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFEM	FTXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.03%	14.28%	-5.25%
Volatility (6M) Calculated over the trailing 6-month period	18.77%	28.98%	-10.21%
Volatility (1Y) Calculated over the trailing 1-year period	21.56%	35.94%	-14.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.02%	36.02%	-14.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.02%	34.25%	-12.23%

FFEM vs. FTXL - Expense Ratio Comparison

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

Dividends

FFEM vs. FTXL - Dividend Comparison

FFEM's dividend yield for the trailing twelve months is around 1.22%, more than FTXL's 0.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FFEM Fidelity Fundamental Emerging Markets ETF	1.22%	1.59%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FTXL First Trust Nasdaq Semiconductor ETF	0.12%	0.28%	0.54%	0.60%	0.89%	0.25%	0.48%	0.92%	0.71%	0.47%	0.12%

Frequently Asked Questions

Can I hold both FFEM and FTXL in my portfolio?

FFEM and FTXL 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 is riskier, FFEM or FTXL?

FTXL has higher volatility (14.28%) compared to FFEM (9.03%). In terms of maximum drawdown, FFEM dropped -16.29% vs FTXL's -43.87%.

Which ETF is better, FFEM or FTXL?

On 1-year performance, FTXL leads with 225.15% vs 68.49% for FFEM. Both ETFs have the same 0.60% expense ratio. On volatility, FFEM has been the lower-risk option at 9.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFEM or FTXL?

Over the 1-year period, FTXL has performed better with a 225.15% return vs 68.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFEM or FTXL?

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

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

FFEM has the higher dividend yield at 1.22%, compared with 0.12% for FTXL.

What is the main difference between FFEM and FTXL?

FFEM is categorized as Emerging Markets Diversified, while FTXL is Semiconductors. They also come from different issuers: Fidelity and First Trust.

Which has better risk-adjusted returns?

FTXL currently has the higher Sharpe Ratio (6.33 vs 3.19), 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.