FFEM vs. OAEM

Last updated Jul 17, 2026

FFEM (Fidelity Fundamental Emerging Markets ETF) and OAEM (OneAscent Emerging Markets ETF) are both Emerging Markets Diversified funds. Over the past year, FFEM returned 45.55% vs 41.65% for OAEM. Their correlation of 0.85 suggests significant overlap in exposure. FFEM charges 0.60%/yr vs 1.25%/yr for OAEM.

Performance

FFEM vs. OAEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Emerging Markets ETF (FFEM) and OneAscent Emerging Markets ETF (OAEM). 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 lower than OAEM's 26.36% return.

FFEM

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

OAEM

• 1D: -2.62%
• 1M: -6.49%
• 6M: 18.65%
• YTD: 26.36%
• 1Y: 41.65%
• 3Y*: 17.37%
• 5Y*: —
• 10Y*: —

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

FFEM vs. OAEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFEM Fidelity Fundamental Emerging Markets ETF	22.72%	40.03%	-10.18%
OAEM OneAscent Emerging Markets ETF	26.36%	26.67%	-0.57%

Correlation

The correlation between FFEM and OAEM is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	0.85

The correlation between FFEM and OAEM has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

Return for Risk

FFEM vs. OAEM — 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

OAEM

OAEM Risk / Return Rank: 62
OAEM Sharpe Ratio Rank: 58
OAEM Sortino Ratio Rank: 51
OAEM Omega Ratio Rank: 59
OAEM Calmar Ratio Rank: 71
OAEM Martin Ratio Rank: 72

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. OAEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Emerging Markets ETF (FFEM) and OneAscent Emerging Markets ETF (OAEM). 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	OAEM	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.57	+0.23
Sortino ratio: Return per unit of downside risk	2.34	2.05	+0.30
Omega ratio: Gain probability vs. loss probability	1.33	1.29	+0.04
Calmar ratio: Return relative to maximum drawdown	3.37	2.86	+0.51
Martin ratio: Return relative to average drawdown	11.40	10.29	+1.11

FFEM vs. OAEM - Sharpe Ratio Comparison

The current FFEM Sharpe Ratio is 1.80, which is comparable to the OAEM Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of FFEM and OAEM, 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. OAEM - Drawdown Comparison

The maximum FFEM drawdown since its inception was -18.17%, which is greater than OAEM's maximum drawdown of -17.05%. Use the drawdown chart below to compare losses from any high point for FFEM and OAEM.

Drawdown Indicators

	FFEM	OAEM	Difference
Max Drawdown Largest peak-to-trough decline	-18.17%	-17.05%	-1.12%
Max Drawdown (1Y) Largest decline over 1 year	-13.57%	-14.63%	+1.06%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.05%	—
Current Drawdown Current decline from peak	-10.30%	-10.49%	+0.19%
Average Drawdown Average peak-to-trough decline	-3.72%	-3.90%	+0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.01%	4.06%	-0.05%

Volatility

FFEM vs. OAEM - Volatility Comparison

The current volatility for Fidelity Fundamental Emerging Markets ETF (FFEM) is 10.80%, while OneAscent Emerging Markets ETF (OAEM) has a volatility of 11.78%. This indicates that FFEM experiences smaller price fluctuations and is considered to be less risky than OAEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFEM	OAEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.80%	11.78%	-0.98%
Volatility (6M) Calculated over the trailing 6-month period	23.21%	24.73%	-1.52%
Volatility (1Y) Calculated over the trailing 1-year period	25.40%	26.60%	-1.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.80%	20.74%	+4.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.80%	20.74%	+4.06%

FFEM vs. OAEM - Expense Ratio Comparison

FFEM has a 0.60% expense ratio, which is lower than OAEM's 1.25% expense ratio.

Dividends

FFEM vs. OAEM - Dividend Comparison

FFEM's dividend yield for the trailing twelve months is around 1.34%, more than OAEM's 0.61% yield.

Position	TTM	2025	2024	2023	2022
FFEM Fidelity Fundamental Emerging Markets ETF	1.34%	1.59%	0.16%	0.00%	0.00%
OAEM OneAscent Emerging Markets ETF	0.61%	0.77%	0.91%	1.63%	0.04%

Frequently Asked Questions

Can I hold both FFEM and OAEM in my portfolio?

FFEM and OAEM have a correlation of 0.88, 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 OAEM?

OAEM has higher volatility (11.78%) compared to FFEM (10.80%). In terms of maximum drawdown, FFEM dropped -18.17% vs OAEM's -17.05%.

Which ETF is better, FFEM or OAEM?

On 1-year performance, FFEM leads with 45.55% vs 41.65% for OAEM. On fees, FFEM is cheaper at 0.60% per year. On volatility, FFEM has been the lower-risk option at 10.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFEM or OAEM?

Over the 1-year period, FFEM has performed better with a 45.55% return vs 41.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFEM or OAEM?

FFEM is cheaper with a 0.60% expense ratio, compared with 1.25% for OAEM.

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

FFEM has the higher dividend yield at 1.34%, compared with 0.61% for OAEM.

What is the main difference between FFEM and OAEM?

They also come from different issuers: Fidelity and Oneascent. Their fees differ too: 0.60% for FFEM and 1.25% for OAEM.

Which has better risk-adjusted returns?

FFEM currently has the higher Sharpe Ratio (1.80 vs 1.57), 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.