PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
FNDE vs. EMMF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FNDE vs. EMMF

Last updated Aug 5, 2026
Documentation

FNDE (Schwab Fundamental Emerging Markets Equity ETF) and EMMF (WisdomTree Emerging Markets Multifactor Fund) are both Emerging Markets Equities funds. FNDE is passively managed, while EMMF is actively managed. Over the past 5 years, FNDE returned 10.67%/yr vs 10.39%/yr for EMMF. Their correlation of 0.85 means they have usually moved in the same direction. FNDE charges 0.39%/yr vs 0.48%/yr for EMMF.

Performance

FNDE vs. EMMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental Emerging Markets Equity ETF (FNDE) and WisdomTree Emerging Markets Multifactor Fund (EMMF). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, FNDE achieves a 16.21% return, which is significantly lower than EMMF's 19.95% return.

FNDE

1D
0.92%
1M
5.81%
6M
7.39%
YTD
16.21%
1Y
29.79%
3Y*
20.36%
5Y*
10.67%
10Y*
9.98%
ALL TIME*
7.27%

EMMF

1D
2.68%
1M
0.06%
6M
10.54%
YTD
19.95%
1Y
33.49%
3Y*
19.13%
5Y*
10.39%
10Y*
—
ALL TIME*
7.94%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EMMF

WisdomTree Emerging Markets Multifactor Fund
$661.02K$531.65K$570.79K

FNDE

Schwab Fundamental Emerging Markets Equity ETF
$31.25M$31.29M$33.84M

FNDE vs. EMMF - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
FNDE
Schwab Fundamental Emerging Markets Equity ETF		16.21%29.46%12.10%14.99%-15.58%14.41%-2.77%19.75%-7.24%
EMMF
WisdomTree Emerging Markets Multifactor Fund		19.95%21.22%9.45%20.59%-13.47%5.97%9.25%2.30%-6.45%

Correlation

The correlation between FNDE and EMMF is 0.85, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.85

Correlation (3Y)
Balances recent behavior with more history.

0.82

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.86

Correlation (All Time)
Calculated using the full available price history since Aug 10, 2018

0.85

The correlation between FNDE and EMMF has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

FNDE vs. EMMF - Sectors Allocation Comparison

Sectors
FNDE
EMMF

Financial Services

25.0%
8.5%

Technology

22.3%
39.6%

Energy

13.2%
3.3%

Basic Materials

12.0%
8.0%

Consumer Cyclical

8.9%
11.0%

Communication Services

6.6%
6.8%

Industrials

4.6%
12.4%

Consumer Defensive

3.3%
2.2%

Utilities

2.4%
2.9%

Real Estate

1.4%
0.9%

Healthcare

0.4%
4.5%

Financial Services

FNDE
25.0%
EMMF
8.5%

Technology

FNDE
22.3%
EMMF
39.6%

Energy

FNDE
13.2%
EMMF
3.3%

Basic Materials

FNDE
12.0%
EMMF
8.0%

Consumer Cyclical

FNDE
8.9%
EMMF
11.0%

Communication Services

FNDE
6.6%
EMMF
6.8%

Industrials

FNDE
4.6%
EMMF
12.4%

Consumer Defensive

FNDE
3.3%
EMMF
2.2%

Utilities

FNDE
2.4%
EMMF
2.9%

Real Estate

FNDE
1.4%
EMMF
0.9%

Healthcare

FNDE
0.4%
EMMF
4.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Schwab Fundamental Emerging Markets Equity ETF

WisdomTree Emerging Markets Multifactor Fund

Often compared with FNDE:
FNDE vs. SCHEFNDE vs. VWOFNDE vs. AVEMFNDE vs. AVESFNDE vs. DEMFNDE vs. SCHFFNDE vs. DFEVX
Often compared with EMMF:
EMMF vs. FLTWEMMF vs. HEDJEMMF vs. BKEMEMMF vs. EEMEMMF vs. BBAXEMMF vs. SPEMEMMF vs. UEVM

Return for Risk

FNDE vs. EMMF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
FNDE
FNDE Risk / Return Rank: 7171
Overall Rank
FNDE Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
FNDE Sortino Ratio Rank: 6868
Sortino Ratio Rank
FNDE Omega Ratio Rank: 7272
Omega Ratio Rank
FNDE Calmar Ratio Rank: 7474
Calmar Ratio Rank
FNDE Martin Ratio Rank: 6767
Martin Ratio Rank
EMMF
EMMF Risk / Return Rank: 5959
Overall Rank
EMMF Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
EMMF Sortino Ratio Rank: 5353
Sortino Ratio Rank
EMMF Omega Ratio Rank: 6464
Omega Ratio Rank
EMMF Calmar Ratio Rank: 5858
Calmar Ratio Rank
EMMF Martin Ratio Rank: 6161
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FNDE vs. EMMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental Emerging Markets Equity ETF (FNDE) and WisdomTree Emerging Markets Multifactor Fund (EMMF). 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.

FNDEEMMFDifference
Sharpe ratioReturn per unit of total volatility
1.86
1.60

+0.25

Sortino ratioReturn per unit of downside risk
2.49
2.12

+0.37

Omega ratioGain probability vs. loss probability

1.34

1.31

+0.03

Calmar ratioReturn relative to maximum drawdown

2.93

2.34

+0.59

Martin ratioReturn relative to average drawdown

9.25

8.20

+1.06

FNDE vs. EMMF - Sharpe Ratio Comparison

The current FNDE Sharpe Ratio is 1.86, which is comparable to the EMMF Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of FNDE and EMMF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

FNDE vs. EMMF - Drawdown Comparison

The maximum FNDE drawdown since its inception was -43.55%, which is greater than EMMF's maximum drawdown of -32.57%. Use the drawdown chart below to compare losses from any high point for FNDE and EMMF.

Loading charts...

Drawdown Indicators

FNDEEMMFDifference

Max Drawdown

Largest peak-to-trough decline

-43.55%

-32.57%

-10.98%

Max Drawdown (1Y)

Largest decline over 1 year

-10.23%

-14.40%

+4.17%

Max Drawdown (3Y)

Largest decline over 3 years

-18.40%

-16.02%

-2.38%

Max Drawdown (5Y)

Largest decline over 5 years

-29.44%

-24.02%

-5.42%

Max Drawdown (10Y)

Largest decline over 10 years

-39.93%

—

—

Current Drawdown

Current decline from peak

-1.05%

-7.42%

+6.37%

Average Drawdown

Average peak-to-trough decline

-11.61%

-7.45%

-4.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.23%

4.10%

-0.87%

Volatility

FNDE vs. EMMF - Volatility Comparison

The current volatility for Schwab Fundamental Emerging Markets Equity ETF (FNDE) is 4.18%, while WisdomTree Emerging Markets Multifactor Fund (EMMF) has a volatility of 8.36%. This indicates that FNDE experiences smaller price fluctuations and is considered to be less risky than EMMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

FNDEEMMFDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.18%

8.36%

-4.18%

Volatility (6M)

Calculated over the trailing 6-month period

13.38%

19.42%

-6.04%

Volatility (1Y)

Calculated over the trailing 1-year period

16.13%

21.00%

-4.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.08%

15.46%

+1.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.13%

17.13%

+2.00%

FNDE vs. EMMF - Expense Ratio Comparison

FNDE has a 0.39% expense ratio, which is lower than EMMF's 0.48% expense ratio.

Dividends

FNDE vs. EMMF - Dividend Comparison

FNDE's dividend yield for the trailing twelve months is around 3.56%, more than EMMF's 1.97% yield.

PositionTTM20252024202320222021202020192018201720162015
EMMF
WisdomTree Emerging Markets Multifactor Fund		1.97%2.45%1.30%1.62%3.48%2.64%1.93%2.93%0.66%0.00%0.00%0.00%
FNDE
Schwab Fundamental Emerging Markets Equity ETF		3.56%4.19%4.82%4.74%5.59%4.32%2.50%3.47%2.98%2.05%1.65%2.02%

Frequently Asked Questions

FNDE and EMMF 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.

EMMF has higher volatility (8.36%) compared to FNDE (4.18%). In terms of maximum drawdown, FNDE dropped -43.55% vs EMMF's -32.57%.

On 5-year performance, FNDE leads with 10.67% vs 10.39% for EMMF. On fees, FNDE is cheaper at 0.39% per year. On volatility, FNDE has been the lower-risk option at 4.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FNDE has performed better with a 10.67% return vs 10.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FNDE is cheaper with a 0.39% expense ratio, compared with 0.48% for EMMF.

FNDE has the higher dividend yield at 3.56%, compared with 1.97% for EMMF.

They also come from different issuers: Charles Schwab and WisdomTree. Their fees differ too: 0.39% for FNDE and 0.48% for EMMF.

FNDE currently has the higher Sharpe Ratio (1.86 vs 1.60), 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.

Portfolio Optimizer

Find the right allocation for FNDE and EMMF

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer