FVEM.DE vs. EMSM.DE
FVEM.DE (Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation) and EMSM.DE (SPDR MSCI Emerging Markets Small Cap UCITS ETF) are both Emerging Markets Equities funds - FVEM.DE tracks the MSCI Emerging Markets Climate Paris Aligned while EMSM.DE tracks the MSCI EM NR USD. Both are passively managed. Over the past 3 years, FVEM.DE returned 18.13%/yr vs 20.54%/yr for EMSM.DE. Their correlation of 0.94 suggests significant overlap in exposure. FVEM.DE charges 0.18%/yr vs 0.55%/yr for EMSM.DE.
Performance
FVEM.DE vs. EMSM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, FVEM.DE achieves a 25.43% return, which is significantly lower than EMSM.DE's 27.59% return.
FVEM.DE
- 1D
- -1.33%
- 1M
- 4.58%
- YTD
- 25.43%
- 6M
- 27.21%
- 1Y
- 47.18%
- 3Y*
- 18.13%
- 5Y*
- —
- 10Y*
- —
EMSM.DE
- 1D
- -1.74%
- 1M
- 6.15%
- YTD
- 27.59%
- 6M
- 29.59%
- 1Y
- 49.96%
- 3Y*
- 20.54%
- 5Y*
- 8.20%
- 10Y*
- 9.68%
FVEM.DE vs. EMSM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FVEM.DE Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation | 25.43% | 17.23% | 13.32% | 0.60% |
EMSM.DE SPDR MSCI Emerging Markets Small Cap UCITS ETF | 27.59% | 18.76% | 13.62% | 4.52% |
Correlation
The correlation between FVEM.DE and EMSM.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2023 | 0.94 |
The correlation between FVEM.DE and EMSM.DE has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.
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Return for Risk
FVEM.DE vs. EMSM.DE — Risk / Return Rank
FVEM.DE
EMSM.DE
FVEM.DE vs. EMSM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation (FVEM.DE) and SPDR MSCI Emerging Markets Small Cap UCITS ETF (EMSM.DE). 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.
| FVEM.DE | EMSM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.50 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.42 | 4.83 | -0.41 |
| Martin ratioReturn relative to average drawdown | 16.79 | 17.39 | -0.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FVEM.DE | EMSM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.66 | 2.80 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.48 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.08 | 0.42 | +0.66 |
Drawdowns
FVEM.DE vs. EMSM.DE - Drawdown Comparison
The maximum FVEM.DE drawdown since its inception was -18.76%, smaller than the maximum EMSM.DE drawdown of -36.49%. Use the drawdown chart below to compare losses from any high point for FVEM.DE and EMSM.DE.
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Drawdown Indicators
| FVEM.DE | EMSM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.76% | -36.49% | +17.73% |
Max Drawdown (1Y)Largest decline over 1 year | -10.62% | -10.29% | -0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -18.76% | -19.25% | +0.49% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.87% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.69% | — |
Current DrawdownCurrent decline from peak | -2.08% | -2.68% | +0.60% |
Average DrawdownAverage peak-to-trough decline | -3.46% | -10.06% | +6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.80% | 2.86% | -0.06% |
Volatility
FVEM.DE vs. EMSM.DE - Volatility Comparison
Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation (FVEM.DE) and SPDR MSCI Emerging Markets Small Cap UCITS ETF (EMSM.DE) have volatilities of 7.26% and 7.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FVEM.DE | EMSM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.26% | 7.40% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 14.82% | 14.93% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.67% | 17.75% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.04% | 16.73% | -0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.04% | 18.33% | -2.29% |
FVEM.DE vs. EMSM.DE - Expense Ratio Comparison
FVEM.DE has a 0.18% expense ratio, which is lower than EMSM.DE's 0.55% expense ratio.
Dividends
FVEM.DE vs. EMSM.DE - Dividend Comparison
Neither FVEM.DE nor EMSM.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, FVEM.DE and EMSM.DE 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.
On fees, FVEM.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FVEM.DE is cheaper with a 0.18% expense ratio, compared with 0.55% for EMSM.DE.
FVEM.DE tracks MSCI Emerging Markets Climate Paris Aligned, while EMSM.DE tracks MSCI EM NR USD. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.18% for FVEM.DE and 0.55% for EMSM.DE.
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