JHEM vs. EMDM

Last updated Aug 5, 2026

JHEM (John Hancock Multifactor Emerging Markets ETF) and EMDM (First Trust Bloomberg Emerging Market Democracies ETF) are both Emerging Markets Equities funds - JHEM tracks the John Hancock Dimensional Emerging Markets Index while EMDM tracks the Bloomberg Emerging Market Democracies Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, JHEM returned 19.32%/yr vs 29.10%/yr for EMDM. Their correlation of 0.89 means they have usually moved in the same direction. JHEM charges 0.49%/yr vs 0.75%/yr for EMDM.

Performance

JHEM vs. EMDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Multifactor Emerging Markets ETF (JHEM) and First Trust Bloomberg Emerging Market Democracies ETF (EMDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHEM achieves a 20.50% return, which is significantly lower than EMDM's 31.50% return.

JHEM

• 1D: 2.55%
• 1M: 1.68%
• 6M: 12.12%
• YTD: 20.50%
• 1Y: 37.35%
• 3Y*: 19.32%
• 5Y*: 8.01%
• 10Y*: —
• ALL TIME*: 8.43%

EMDM

• 1D: 2.42%
• 1M: -0.78%
• 6M: 13.02%
• YTD: 31.50%
• 1Y: 68.49%
• 3Y*: 29.10%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.40%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EMDM First Trust Bloomberg Emerging Market Democracies ETF	$384.95K	$728.73K	$538.13K
JHEM John Hancock Multifactor Emerging Markets ETF	$936.06K	$1.86M	$1.55M

JHEM vs. EMDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JHEM John Hancock Multifactor Emerging Markets ETF	20.50%	30.49%	4.58%	8.95%
EMDM First Trust Bloomberg Emerging Market Democracies ETF	31.50%	59.68%	-4.93%	14.75%

Correlation

The correlation between JHEM and EMDM is 0.91, 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.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.88
Correlation (All Time) Calculated using the full available price history since Mar 3, 2023	0.89

The correlation between JHEM and EMDM has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

JHEM vs. EMDM - Sectors Allocation Comparison

Sectors	JHEM	EMDM
Technology	18.0%	39.9%
Financial Services	11.0%	25.6%
Consumer Cyclical	6.2%	5.3%
Communication Services	3.8%	4.0%
Basic Materials	1.9%	12.7%
Industrials	1.5%	2.6%
Energy	1.1%	4.8%
Healthcare	1.1%	0.5%
Consumer Defensive	0.9%	3.1%
Real Estate	0.3%	-
Utilities	0.2%	1.5%

Return for Risk

JHEM vs. EMDM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JHEM

JHEM Risk / Return Rank: 64
JHEM Sharpe Ratio Rank: 61
JHEM Sortino Ratio Rank: 57
JHEM Omega Ratio Rank: 63
JHEM Calmar Ratio Rank: 76
JHEM Martin Ratio Rank: 66

EMDM

EMDM Risk / Return Rank: 88
EMDM Sharpe Ratio Rank: 91
EMDM Sortino Ratio Rank: 83
EMDM Omega Ratio Rank: 88
EMDM Calmar Ratio Rank: 91
EMDM Martin Ratio Rank: 86

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.

JHEM vs. EMDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Multifactor Emerging Markets ETF (JHEM) and First Trust Bloomberg Emerging Market Democracies ETF (EMDM). 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.

	JHEM	EMDM	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.47	-0.82
Sortino ratio: Return per unit of downside risk	2.22	3.00	-0.78
Omega ratio: Gain probability vs. loss probability	1.31	1.42	-0.12
Calmar ratio: Return relative to maximum drawdown	3.04	4.40	-1.36
Martin ratio: Return relative to average drawdown	9.02	13.87	-4.86

JHEM vs. EMDM - Sharpe Ratio Comparison

The current JHEM Sharpe Ratio is 1.64, which is lower than the EMDM Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of JHEM and EMDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JHEM vs. EMDM - Drawdown Comparison

The maximum JHEM drawdown since its inception was -34.99%, which is greater than EMDM's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for JHEM and EMDM.

Drawdown Indicators

	JHEM	EMDM	Difference
Max Drawdown Largest peak-to-trough decline	-34.99%	-18.81%	-16.18%
Max Drawdown (1Y) Largest decline over 1 year	-12.34%	-15.65%	+3.31%
Max Drawdown (3Y) Largest decline over 3 years	-18.16%	-18.81%	+0.65%
Max Drawdown (5Y) Largest decline over 5 years	-30.17%	—	—
Current Drawdown Current decline from peak	-5.53%	-8.35%	+2.82%
Average Drawdown Average peak-to-trough decline	-9.87%	-4.21%	-5.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.15%	4.95%	-0.80%

Volatility

JHEM vs. EMDM - Volatility Comparison

The current volatility for John Hancock Multifactor Emerging Markets ETF (JHEM) is 8.47%, while First Trust Bloomberg Emerging Market Democracies ETF (EMDM) has a volatility of 9.63%. This indicates that JHEM experiences smaller price fluctuations and is considered to be less risky than EMDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHEM	EMDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.47%	9.63%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	20.83%	25.44%	-4.61%
Volatility (1Y) Calculated over the trailing 1-year period	22.87%	27.94%	-5.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.50%	21.17%	-2.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.97%	21.17%	-0.20%

JHEM vs. EMDM - Expense Ratio Comparison

JHEM has a 0.49% expense ratio, which is lower than EMDM's 0.75% expense ratio.

Dividends

JHEM vs. EMDM - Dividend Comparison

JHEM's dividend yield for the trailing twelve months is around 1.80%, less than EMDM's 2.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EMDM First Trust Bloomberg Emerging Market Democracies ETF	2.88%	3.57%	5.87%	2.16%	0.00%	0.00%	0.00%	0.00%	0.00%
JHEM John Hancock Multifactor Emerging Markets ETF	1.80%	2.39%	2.93%	2.87%	2.84%	2.71%	1.67%	2.37%	0.21%

Frequently Asked Questions

Can I hold both JHEM and EMDM in my portfolio?

With a correlation of 0.91, JHEM and EMDM 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, JHEM or EMDM?

EMDM has higher volatility (9.63%) compared to JHEM (8.47%). In terms of maximum drawdown, JHEM dropped -34.99% vs EMDM's -18.81%.

Which ETF is better, JHEM or EMDM?

On 3-year performance, EMDM leads with 29.10% vs 19.32% for JHEM. On fees, JHEM is cheaper at 0.49% per year. On volatility, JHEM has been the lower-risk option at 8.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHEM or EMDM?

Over the 3-year period, EMDM has performed better with a 29.10% return vs 19.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHEM or EMDM?

JHEM is cheaper with a 0.49% expense ratio, compared with 0.75% for EMDM.

Which ETF pays a higher dividend yield, JHEM or EMDM?

EMDM has the higher dividend yield at 2.88%, compared with 1.80% for JHEM.

What is the main difference between JHEM and EMDM?

JHEM tracks John Hancock Dimensional Emerging Markets Index, while EMDM tracks Bloomberg Emerging Market Democracies Index - Benchmark TR Net. They also come from different issuers: Manulife and First Trust. Their fees differ too: 0.49% for JHEM and 0.75% for EMDM.

Which has better risk-adjusted returns?

EMDM currently has the higher Sharpe Ratio (2.47 vs 1.64), 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.