MEMX vs. EMDM

Last updated Apr 1, 2026

Compare and contrast key facts about Matthews Emerging Markets Ex China Active ETF (MEMX) and First Trust Bloomberg Emerging Market Democracies ETF (EMDM).

MEMX and EMDM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MEMX is an actively managed fund by Matthews. It was launched on Jan 10, 2023. EMDM is a passively managed fund by First Trust that tracks the performance of the Bloomberg Emerging Market Democracies Index - Benchmark TR Net. It was launched on Mar 2, 2023.

Performance

MEMX vs. EMDM - Performance Comparison

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

MEMX vs. EMDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MEMX Matthews Emerging Markets Ex China Active ETF	6.51%	35.88%	5.50%	10.06%
EMDM First Trust Bloomberg Emerging Market Democracies ETF	11.89%	59.68%	-4.93%	14.21%

Returns By Period

In the year-to-date period, MEMX achieves a 6.51% return, which is significantly lower than EMDM's 11.89% return.

MEMX

• 1D: 4.04%
• 1M: -11.05%
• YTD: 6.51%
• 6M: 20.33%
• 1Y: 49.85%
• 3Y*: 19.55%
• 5Y*: —
• 10Y*: —

EMDM

• 1D: 5.02%
• 1M: -11.39%
• YTD: 11.89%
• 6M: 27.11%
• 1Y: 68.49%
• 3Y*: 24.85%
• 5Y*: —
• 10Y*: —

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

MEMX vs. EMDM - Expense Ratio Comparison

MEMX has a 0.79% expense ratio, which is higher than EMDM's 0.75% expense ratio.

MEMX

Matthews Emerging Markets Ex China Active ETF

EMDM

First Trust Bloomberg Emerging Market Democracies ETF

Return for Risk

MEMX vs. EMDM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MEMX

MEMX Risk / Return Rank: 94
MEMX Sharpe Ratio Rank: 95
MEMX Sortino Ratio Rank: 95
MEMX Omega Ratio Rank: 95
MEMX Calmar Ratio Rank: 92
MEMX Martin Ratio Rank: 94

EMDM

EMDM Risk / Return Rank: 97
EMDM Sharpe Ratio Rank: 97
EMDM Sortino Ratio Rank: 97
EMDM Omega Ratio Rank: 97
EMDM Calmar Ratio Rank: 96
EMDM Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MEMX vs. EMDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Emerging Markets Ex China Active ETF (MEMX) 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.

	MEMX	EMDM	Difference
Sharpe ratio Return per unit of total volatility	2.46	2.93	-0.47
Sortino ratio Return per unit of downside risk	3.12	3.54	-0.42
Omega ratio Gain probability vs. loss probability	1.46	1.54	-0.08
Calmar ratio Return relative to maximum drawdown	3.37	4.31	-0.94
Martin ratio Return relative to average drawdown	14.15	18.18	-4.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MEMX vs. EMDM - Sharpe Ratio Comparison

The current MEMX Sharpe Ratio is 2.46, which is comparable to the EMDM Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of MEMX and EMDM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MEMX	EMDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	2.93	-0.47
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	1.27	-0.17

Correlation

The correlation between MEMX and EMDM is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MEMX vs. EMDM - Dividend Comparison

MEMX's dividend yield for the trailing twelve months is around 4.58%, more than EMDM's 3.19% yield.

	TTM	2025	2024	2023
MEMX Matthews Emerging Markets Ex China Active ETF	4.58%	4.88%	0.99%	1.13%
EMDM First Trust Bloomberg Emerging Market Democracies ETF	3.19%	3.57%	5.87%	2.16%

Drawdowns

MEMX vs. EMDM - Drawdown Comparison

The maximum MEMX drawdown since its inception was -19.27%, roughly equal to the maximum EMDM drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for MEMX and EMDM.

Drawdown Indicators

	MEMX	EMDM	Difference
Max Drawdown Largest peak-to-trough decline	-19.27%	-18.81%	-0.46%
Max Drawdown (1Y) Largest decline over 1 year	-14.70%	-15.65%	+0.95%
Current Drawdown Current decline from peak	-11.25%	-11.42%	+0.17%
Average Drawdown Average peak-to-trough decline	-3.53%	-4.16%	+0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	3.71%	-0.21%

Volatility

MEMX vs. EMDM - Volatility Comparison

The current volatility for Matthews Emerging Markets Ex China Active ETF (MEMX) is 11.60%, while First Trust Bloomberg Emerging Market Democracies ETF (EMDM) has a volatility of 13.46%. This indicates that MEMX 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

	MEMX	EMDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.60%	13.46%	-1.86%
Volatility (6M) Calculated over the trailing 6-month period	16.22%	18.35%	-2.13%
Volatility (1Y) Calculated over the trailing 1-year period	20.39%	23.54%	-3.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.07%	18.98%	-2.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.07%	18.98%	-2.91%