FFEM vs. STXE

Last updated Jun 4, 2026

FFEM (Fidelity Fundamental Emerging Markets ETF) and STXE (Strive Emerging Markets Ex-China ETF) are both Emerging Markets Diversified funds. Over the past year, FFEM returned 68.49% vs 84.40% for STXE. Their correlation of 0.87 suggests significant overlap in exposure. FFEM charges 0.60%/yr vs 0.32%/yr for STXE.

Performance

FFEM vs. STXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Emerging Markets ETF (FFEM) and Strive Emerging Markets Ex-China ETF (STXE). 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 STXE's 47.29% return.

FFEM

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

STXE

• 1D: -1.00%
• 1M: 15.10%
• YTD: 47.29%
• 6M: 52.92%
• 1Y: 84.40%
• 3Y*: 29.77%
• 5Y*: —
• 10Y*: —

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

FFEM vs. STXE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFEM Fidelity Fundamental Emerging Markets ETF	33.06%	40.03%	-2.27%
STXE Strive Emerging Markets Ex-China ETF	47.29%	34.23%	-2.66%

Correlation

The correlation between FFEM and STXE is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Nov 22, 2024	0.87

The correlation between FFEM and STXE has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

Return for Risk

FFEM vs. STXE — 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

STXE

STXE Risk / Return Rank: 92
STXE Sharpe Ratio Rank: 94
STXE Sortino Ratio Rank: 92
STXE Omega Ratio Rank: 93
STXE Calmar Ratio Rank: 91
STXE Martin Ratio Rank: 92

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. STXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Emerging Markets ETF (FFEM) and Strive Emerging Markets Ex-China ETF (STXE). 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	STXE	Difference
Sharpe ratio: Return per unit of total volatility	3.19	3.70	-0.51
Sortino ratio: Return per unit of downside risk	4.00	4.47	-0.47
Omega ratio: Gain probability vs. loss probability	1.56	1.65	-0.09
Calmar ratio: Return relative to maximum drawdown	5.07	5.85	-0.78
Martin ratio: Return relative to average drawdown	20.18	23.95	-3.78
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. STXE - Sharpe Ratio Comparison

The current FFEM Sharpe Ratio is 3.19, which is comparable to the STXE Sharpe Ratio of 3.70. The chart below compares the historical Sharpe Ratios of FFEM and STXE, 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	STXE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.19	3.70	-0.51
Sharpe Ratio (All Time) Calculated using the full available price history	2.21	1.57	+0.64

Drawdowns

FFEM vs. STXE - Drawdown Comparison

The maximum FFEM drawdown since its inception was -16.29%, smaller than the maximum STXE drawdown of -18.92%. Use the drawdown chart below to compare losses from any high point for FFEM and STXE.

Drawdown Indicators

	FFEM	STXE	Difference
Max Drawdown Largest peak-to-trough decline	-16.29%	-18.92%	+2.63%
Max Drawdown (1Y) Largest decline over 1 year	-13.57%	-14.51%	+0.94%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.92%	—
Current Drawdown Current decline from peak	-1.56%	-1.00%	-0.56%
Average Drawdown Average peak-to-trough decline	-2.41%	-3.72%	+1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	3.54%	-0.13%

Volatility

FFEM vs. STXE - Volatility Comparison

The current volatility for Fidelity Fundamental Emerging Markets ETF (FFEM) is 9.03%, while Strive Emerging Markets Ex-China ETF (STXE) has a volatility of 10.53%. This indicates that FFEM experiences smaller price fluctuations and is considered to be less risky than STXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFEM	STXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.03%	10.53%	-1.50%
Volatility (6M) Calculated over the trailing 6-month period	18.77%	20.81%	-2.04%
Volatility (1Y) Calculated over the trailing 1-year period	21.56%	22.95%	-1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.02%	17.68%	+4.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.02%	17.68%	+4.34%

FFEM vs. STXE - Expense Ratio Comparison

FFEM has a 0.60% expense ratio, which is higher than STXE's 0.32% expense ratio.

Dividends

FFEM vs. STXE - Dividend Comparison

FFEM's dividend yield for the trailing twelve months is around 1.22%, less than STXE's 1.83% yield.

Position	TTM	2025	2024	2023
FFEM Fidelity Fundamental Emerging Markets ETF	1.22%	1.59%	0.16%	0.00%
STXE Strive Emerging Markets Ex-China ETF	1.83%	2.66%	3.22%	1.08%

Frequently Asked Questions

Can I hold both FFEM and STXE in my portfolio?

With a correlation of 0.91, FFEM and STXE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FFEM or STXE?

STXE has higher volatility (10.53%) compared to FFEM (9.03%). In terms of maximum drawdown, FFEM dropped -16.29% vs STXE's -18.92%.

Which ETF is better, FFEM or STXE?

On 1-year performance, STXE leads with 84.40% vs 68.49% for FFEM. On fees, STXE is cheaper at 0.32% per year. 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 STXE?

Over the 1-year period, STXE has performed better with a 84.40% 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 STXE?

STXE is cheaper with a 0.32% expense ratio, compared with 0.60% for FFEM.

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

STXE has the higher dividend yield at 1.83%, compared with 1.22% for FFEM.

What is the main difference between FFEM and STXE?

They also come from different issuers: Fidelity and Strive. Their fees differ too: 0.60% for FFEM and 0.32% for STXE.

Which has better risk-adjusted returns?

STXE currently has the higher Sharpe Ratio (3.70 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.