FFEM vs. GQJPX

Last updated Jun 3, 2026

FFEM (Fidelity Fundamental Emerging Markets ETF) and GQJPX (GQG Partners International Quality Dividend Income Fund) are both funds - FFEM is a Emerging Markets Diversified fund managed by Fidelity, while GQJPX is a Foreign Large Cap Equities fund managed by GQG Partners Inc. Over the past year, FFEM returned 71.52% vs 15.01% for GQJPX. A 0.51 correlation means they provide meaningful diversification when combined. FFEM charges 0.60%/yr vs 0.91%/yr for GQJPX.

Performance

FFEM vs. GQJPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Emerging Markets ETF (FFEM) and GQG Partners International Quality Dividend Income Fund (GQJPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFEM achieves a 35.17% return, which is significantly higher than GQJPX's 6.04% return.

FFEM

• 1D: 1.46%
• 1M: 11.57%
• YTD: 35.17%
• 6M: 39.07%
• 1Y: 71.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GQJPX

• 1D: -0.48%
• 1M: -1.81%
• YTD: 6.04%
• 6M: 7.49%
• 1Y: 15.01%
• 3Y*: 16.99%
• 5Y*: —
• 10Y*: —

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

FFEM vs. GQJPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFEM Fidelity Fundamental Emerging Markets ETF	35.17%	40.03%	-2.27%
GQJPX GQG Partners International Quality Dividend Income Fund	6.04%	24.88%	-2.70%

Correlation

The correlation between FFEM and GQJPX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Nov 22, 2024	0.51

The correlation between FFEM and GQJPX has been stable across timeframes, ranging from 0.47 to 0.51 - a consistent structural relationship.

Return for Risk

FFEM vs. GQJPX — Risk / Return Rank

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

FFEM

FFEM Risk / Return Rank: 90
FFEM Sharpe Ratio Rank: 92
FFEM Sortino Ratio Rank: 89
FFEM Omega Ratio Rank: 90
FFEM Calmar Ratio Rank: 89
FFEM Martin Ratio Rank: 90

GQJPX

GQJPX Risk / Return Rank: 26
GQJPX Sharpe Ratio Rank: 28
GQJPX Sortino Ratio Rank: 26
GQJPX Omega Ratio Rank: 28
GQJPX Calmar Ratio Rank: 24
GQJPX Martin Ratio Rank: 23

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. GQJPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Emerging Markets ETF (FFEM) and GQG Partners International Quality Dividend Income Fund (GQJPX). 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	GQJPX	Difference
Sharpe ratio Return per unit of total volatility	3.35	1.55	+1.79
Sortino ratio Return per unit of downside risk	4.15	2.16	+1.99
Omega ratio Gain probability vs. loss probability	1.59	1.28	+0.31
Calmar ratio Return relative to maximum drawdown	5.37	1.86	+3.50
Martin ratio Return relative to average drawdown	21.40	5.97	+15.43
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. GQJPX - Sharpe Ratio Comparison

The current FFEM Sharpe Ratio is 3.35, which is higher than the GQJPX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of FFEM and GQJPX, 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	GQJPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.35	1.55	+1.79
Sharpe Ratio (All Time) Calculated using the full available price history	2.29	0.69	+1.60

Drawdowns

FFEM vs. GQJPX - Drawdown Comparison

The maximum FFEM drawdown since its inception was -16.29%, smaller than the maximum GQJPX drawdown of -21.83%. Use the drawdown chart below to compare losses from any high point for FFEM and GQJPX.

Drawdown Indicators

	FFEM	GQJPX	Difference
Max Drawdown Largest peak-to-trough decline	-16.29%	-21.83%	+5.54%
Max Drawdown (1Y) Largest decline over 1 year	-13.57%	-8.56%	-5.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.45%	—
Current Drawdown Current decline from peak	0.00%	-5.34%	+5.34%
Average Drawdown Average peak-to-trough decline	-2.41%	-5.52%	+3.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	2.67%	+0.73%

Volatility

FFEM vs. GQJPX - Volatility Comparison

Fidelity Fundamental Emerging Markets ETF (FFEM) has a higher volatility of 8.79% compared to GQG Partners International Quality Dividend Income Fund (GQJPX) at 2.72%. This indicates that FFEM's price experiences larger fluctuations and is considered to be riskier than GQJPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFEM	GQJPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.79%	2.72%	+6.07%
Volatility (6M) Calculated over the trailing 6-month period	18.69%	8.34%	+10.35%
Volatility (1Y) Calculated over the trailing 1-year period	21.50%	10.24%	+11.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.00%	12.96%	+9.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.00%	12.96%	+9.04%

FFEM vs. GQJPX - Expense Ratio Comparison

FFEM has a 0.60% expense ratio, which is lower than GQJPX's 0.91% expense ratio.

Dividends

FFEM vs. GQJPX - Dividend Comparison

FFEM's dividend yield for the trailing twelve months is around 1.21%, less than GQJPX's 3.92% yield.

Position	TTM	2025	2024	2023	2022	2021
FFEM Fidelity Fundamental Emerging Markets ETF	1.21%	1.59%	0.16%	0.00%	0.00%	0.00%
GQJPX GQG Partners International Quality Dividend Income Fund	3.92%	3.22%	3.35%	4.50%	5.59%	1.75%

Frequently Asked Questions

Can I hold both FFEM and GQJPX in my portfolio?

FFEM and GQJPX have a correlation of 0.47, 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 GQJPX?

FFEM has higher volatility (8.79%) compared to GQJPX (2.72%). In terms of maximum drawdown, FFEM dropped -16.29% vs GQJPX's -21.83%.

Which has better risk-adjusted returns?

FFEM currently has the higher Sharpe Ratio (3.35 vs 1.55), 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.