FFEM vs. OAEM

Last updated Jun 4, 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 68.49% vs 62.43% 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 33.06% return, which is significantly lower than OAEM's 36.06% return.

FFEM

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

OAEM

• 1D: -1.10%
• 1M: 7.11%
• YTD: 36.06%
• 6M: 43.08%
• 1Y: 62.43%
• 3Y*: 21.19%
• 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	33.06%	40.03%	-2.27%
OAEM OneAscent Emerging Markets ETF	36.06%	26.67%	-1.13%

Correlation

The correlation between FFEM and OAEM is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Nov 22, 2024	0.85

The correlation between FFEM and OAEM has been stable across timeframes, ranging from 0.85 to 0.85 - 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: 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

OAEM

OAEM Risk / Return Rank: 83
OAEM Sharpe Ratio Rank: 86
OAEM Sortino Ratio Rank: 79
OAEM Omega Ratio Rank: 81
OAEM Calmar Ratio Rank: 82
OAEM Martin Ratio Rank: 86

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.

	FFEM	OAEM	Difference
Sharpe ratio: Return per unit of total volatility	3.19	2.81	+0.38
Sortino ratio: Return per unit of downside risk	4.00	3.53	+0.47
Omega ratio: Gain probability vs. loss probability	1.56	1.49	+0.08
Calmar ratio: Return relative to maximum drawdown	5.07	4.29	+0.78
Martin ratio: Return relative to average drawdown	20.18	17.91	+2.26
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. OAEM - Sharpe Ratio Comparison

The current FFEM Sharpe Ratio is 3.19, which is comparable to the OAEM Sharpe Ratio of 2.81. 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.

Sharpe Ratios by Period

	FFEM	OAEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.19	2.81	+0.38
Sharpe Ratio (All Time) Calculated using the full available price history	2.21	1.12	+1.09

Drawdowns

FFEM vs. OAEM - Drawdown Comparison

The maximum FFEM drawdown since its inception was -16.29%, roughly equal to the maximum OAEM 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	-16.29%	-17.05%	+0.76%
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	-1.56%	-1.10%	-0.46%
Average Drawdown Average peak-to-trough decline	-2.41%	-3.86%	+1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	3.50%	-0.09%

Volatility

FFEM vs. OAEM - Volatility Comparison

Fidelity Fundamental Emerging Markets ETF (FFEM) has a higher volatility of 9.03% compared to OneAscent Emerging Markets ETF (OAEM) at 8.12%. This indicates that FFEM's price experiences larger fluctuations and is considered to be riskier 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	9.03%	8.12%	+0.91%
Volatility (6M) Calculated over the trailing 6-month period	18.77%	19.82%	-1.05%
Volatility (1Y) Calculated over the trailing 1-year period	21.56%	22.32%	-0.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.02%	19.55%	+2.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.02%	19.55%	+2.47%

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 1.22%, more than OAEM's 0.57% yield.

Position	TTM	2025	2024	2023	2022
FFEM Fidelity Fundamental Emerging Markets ETF	1.22%	1.59%	0.16%	0.00%	0.00%
OAEM OneAscent Emerging Markets ETF	0.57%	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 0.85, 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?

FFEM has higher volatility (9.03%) compared to OAEM (8.12%). In terms of maximum drawdown, FFEM dropped -16.29% vs OAEM's -17.05%.

Which ETF is better, FFEM or OAEM?

On 1-year performance, FFEM leads with 68.49% vs 62.43% for OAEM. On fees, FFEM is cheaper at 0.60% per year. On volatility, OAEM has been the lower-risk option at 8.12%. 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 68.49% return vs 62.43%. 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 1.22%, compared with 0.57% 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 (3.19 vs 2.81), 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.