FM vs. EMFM
Compare and contrast key facts about iShares MSCI Frontier 100 ETF (FM) and Global X MSCI Next Emerging & Frontier ETF (EMFM).
FM and EMFM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FM is a passively managed fund by iShares that tracks the performance of the MSCI Frontier Markets 100 Index. It was launched on Sep 12, 2012. EMFM is a passively managed fund by Global X that tracks the performance of the MSCI Select Emerging and Frontier Markets Access. It was launched on Nov 7, 2013. Both FM and EMFM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FM or EMFM.
Key characteristics
| FM | EMFM | |
|---|---|---|
| YTD Return | 5.02% | -1.77% |
| 1Y Return | 13.03% | 0.40% |
| 3Y Return (Ann) | -0.94% | 0.16% |
| 5Y Return (Ann) | 2.60% | 0.41% |
| 10Y Return (Ann) | 0.72% | -0.96% |
| Sharpe Ratio | 1.13 | 0.05 |
| Daily Std Dev | 12.27% | 9.47% |
| Max Drawdown | -41.63% | -46.62% |
| Current Drawdown | -18.80% | -16.26% |
Correlation
The correlation between FM and EMFM is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
FM vs. EMFM - Performance Comparison
In the year-to-date period, FM achieves a 5.02% return, which is significantly higher than EMFM's -1.77% return. Over the past 10 years, FM has outperformed EMFM with an annualized return of 0.72%, while EMFM has yielded a comparatively lower -0.96% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FM vs. EMFM - Expense Ratio Comparison
FM has a 0.79% expense ratio, which is higher than EMFM's 0.70% expense ratio.
Risk-Adjusted Performance
FM vs. EMFM - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Frontier 100 ETF (FM) and Global X MSCI Next Emerging & Frontier ETF (EMFM). 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.
Dividends
FM vs. EMFM - Dividend Comparison
FM's dividend yield for the trailing twelve months is around 3.45%, more than EMFM's 3.00% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FM iShares MSCI Frontier 100 ETF | 3.45% | 3.62% | 2.70% | 2.04% | 2.91% | 3.12% | 4.29% | 2.04% | 2.15% | 2.76% | 12.35% | 1.11% |
EMFM Global X MSCI Next Emerging & Frontier ETF | 3.00% | 2.95% | 2.55% | 2.17% | 2.61% | 2.85% | 3.29% | 1.72% | 2.61% | 2.69% | 1.70% | 0.19% |
Drawdowns
FM vs. EMFM - Drawdown Comparison
The maximum FM drawdown since its inception was -41.63%, smaller than the maximum EMFM drawdown of -46.62%. Use the drawdown chart below to compare losses from any high point for FM and EMFM. For additional features, visit the drawdowns tool.
Volatility
FM vs. EMFM - Volatility Comparison
iShares MSCI Frontier 100 ETF (FM) has a higher volatility of 3.37% compared to Global X MSCI Next Emerging & Frontier ETF (EMFM) at 0.48%. This indicates that FM's price experiences larger fluctuations and is considered to be riskier than EMFM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.