JHEM vs. FNDE

Last updated Aug 2, 2026

JHEM (John Hancock Multifactor Emerging Markets ETF) and FNDE (Schwab Fundamental Emerging Markets Equity ETF) are both Emerging Markets Equities funds - JHEM tracks the John Hancock Dimensional Emerging Markets Index while FNDE tracks the RAFI Fundamental High Liquidity Emerging Markets Index (Net). Both are passively managed. Over the past 5 years, JHEM returned 7.70%/yr vs 10.74%/yr for FNDE. Their correlation of 0.92 means they have usually moved in the same direction. JHEM charges 0.49%/yr vs 0.39%/yr for FNDE.

Performance

JHEM vs. FNDE - Performance Comparison

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

Returns By Period

In the year-to-date period, JHEM achieves a 16.40% return, which is significantly higher than FNDE's 15.01% return.

JHEM

• 1D: 0.52%
• 1M: -1.78%
• 6M: 9.21%
• YTD: 16.40%
• 1Y: 33.78%
• 3Y*: 17.17%
• 5Y*: 7.70%
• 10Y*: —
• ALL TIME*: 7.96%

FNDE

• 1D: 0.66%
• 1M: 4.72%
• 6M: 6.81%
• YTD: 15.01%
• 1Y: 29.41%
• 3Y*: 19.09%
• 5Y*: 10.74%
• 10Y*: 10.16%
• ALL TIME*: 7.19%

*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)
FNDE Schwab Fundamental Emerging Markets Equity ETF	$29.51M	$30.86M	$33.63M
JHEM John Hancock Multifactor Emerging Markets ETF	$1.98M	$1.89M	$1.51M

JHEM vs. FNDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JHEM John Hancock Multifactor Emerging Markets ETF	16.40%	30.49%	4.58%	12.94%	-17.90%	2.10%	11.50%	17.68%	-7.63%
FNDE Schwab Fundamental Emerging Markets Equity ETF	15.01%	29.46%	12.10%	14.99%	-15.58%	14.41%	-2.77%	19.75%	-7.88%

Correlation

The correlation between JHEM and FNDE is 0.88, 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.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018	0.92

The correlation between JHEM and FNDE has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

JHEM vs. FNDE - Sectors Allocation Comparison

Sectors	JHEM	FNDE
Technology	18.0%	22.3%
Financial Services	11.0%	25.0%
Consumer Cyclical	6.2%	8.9%
Communication Services	3.8%	6.6%
Basic Materials	1.9%	12.0%
Industrials	1.5%	4.6%
Energy	1.1%	13.2%
Healthcare	1.1%	0.4%
Consumer Defensive	0.9%	3.3%
Real Estate	0.3%	1.4%
Utilities	0.2%	2.4%

Return for Risk

JHEM vs. FNDE — Risk / Return Rank

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

JHEM

JHEM Risk / Return Rank: 65
JHEM Sharpe Ratio Rank: 62
JHEM Sortino Ratio Rank: 58
JHEM Omega Ratio Rank: 64
JHEM Calmar Ratio Rank: 76
JHEM Martin Ratio Rank: 66

FNDE

FNDE Risk / Return Rank: 77
FNDE Sharpe Ratio Rank: 79
FNDE Sortino Ratio Rank: 76
FNDE Omega Ratio Rank: 78
FNDE Calmar Ratio Rank: 79
FNDE Martin Ratio Rank: 73

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. FNDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Multifactor Emerging Markets ETF (JHEM) and Schwab Fundamental Emerging Markets Equity ETF (FNDE). 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	FNDE	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.79	-0.33
Sortino ratio: Return per unit of downside risk	2.00	2.41	-0.41
Omega ratio: Gain probability vs. loss probability	1.27	1.32	-0.05
Calmar ratio: Return relative to maximum drawdown	2.69	2.82	-0.13
Martin ratio: Return relative to average drawdown	8.05	8.93	-0.88

JHEM vs. FNDE - Sharpe Ratio Comparison

The current JHEM Sharpe Ratio is 1.46, which is comparable to the FNDE Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of JHEM and FNDE, 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. FNDE - Drawdown Comparison

The maximum JHEM drawdown since its inception was -34.99%, smaller than the maximum FNDE drawdown of -43.55%. Use the drawdown chart below to compare losses from any high point for JHEM and FNDE.

Drawdown Indicators

	JHEM	FNDE	Difference
Max Drawdown Largest peak-to-trough decline	-34.99%	-43.55%	+8.56%
Max Drawdown (1Y) Largest decline over 1 year	-12.34%	-10.23%	-2.11%
Max Drawdown (3Y) Largest decline over 3 years	-18.16%	-18.40%	+0.24%
Max Drawdown (5Y) Largest decline over 5 years	-30.17%	-29.44%	-0.73%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.93%	—
Current Drawdown Current decline from peak	-8.74%	-2.07%	-6.67%
Average Drawdown Average peak-to-trough decline	-9.87%	-11.62%	+1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.11%	3.22%	+0.89%

Volatility

JHEM vs. FNDE - Volatility Comparison

John Hancock Multifactor Emerging Markets ETF (JHEM) has a higher volatility of 8.50% compared to Schwab Fundamental Emerging Markets Equity ETF (FNDE) at 4.42%. This indicates that JHEM's price experiences larger fluctuations and is considered to be riskier than FNDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHEM	FNDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.50%	4.42%	+4.08%
Volatility (6M) Calculated over the trailing 6-month period	20.78%	13.64%	+7.14%
Volatility (1Y) Calculated over the trailing 1-year period	22.74%	16.16%	+6.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.46%	17.08%	+1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.96%	19.13%	+1.83%

JHEM vs. FNDE - Expense Ratio Comparison

JHEM has a 0.49% expense ratio, which is higher than FNDE's 0.39% expense ratio.

Dividends

JHEM vs. FNDE - Dividend Comparison

JHEM's dividend yield for the trailing twelve months is around 1.86%, less than FNDE's 3.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDE Schwab Fundamental Emerging Markets Equity ETF	3.60%	4.19%	4.82%	4.74%	5.59%	4.32%	2.50%	3.47%	2.98%	2.05%	1.65%	2.02%
JHEM John Hancock Multifactor Emerging Markets ETF	1.86%	2.39%	2.93%	2.87%	2.84%	2.71%	1.67%	2.37%	0.21%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JHEM and FNDE in my portfolio?

JHEM and FNDE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHEM or FNDE?

JHEM has higher volatility (8.50%) compared to FNDE (4.42%). In terms of maximum drawdown, JHEM dropped -34.99% vs FNDE's -43.55%.

Which ETF is better, JHEM or FNDE?

On 5-year performance, FNDE leads with 10.74% vs 7.70% for JHEM. On fees, FNDE is cheaper at 0.39% per year. On volatility, FNDE has been the lower-risk option at 4.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHEM or FNDE?

Over the 5-year period, FNDE has performed better with a 10.74% return vs 7.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHEM or FNDE?

FNDE is cheaper with a 0.39% expense ratio, compared with 0.49% for JHEM.

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

FNDE has the higher dividend yield at 3.60%, compared with 1.86% for JHEM.

What is the main difference between JHEM and FNDE?

JHEM tracks John Hancock Dimensional Emerging Markets Index, while FNDE tracks RAFI Fundamental High Liquidity Emerging Markets Index (Net). They also come from different issuers: Manulife and Charles Schwab. Their fees differ too: 0.49% for JHEM and 0.39% for FNDE.

Which has better risk-adjusted returns?

FNDE currently has the higher Sharpe Ratio (1.79 vs 1.46), 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.