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RFEM vs. AVEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RFEM vs. AVEM

Last updated Aug 5, 2026
Documentation

RFEM (First Trust RiverFront Dynamic Emerging Markets ETF) and AVEM (Avantis Emerging Markets Equity ETF) are both Emerging Markets Equities funds. Both are actively managed. Over the past 5 years, RFEM returned 10.31%/yr vs 9.79%/yr for AVEM. Their correlation of 0.93 means they have usually moved in the same direction. RFEM charges 0.95%/yr vs 0.33%/yr for AVEM.

Performance

RFEM vs. AVEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) and Avantis Emerging Markets Equity ETF (AVEM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RFEM achieves a 22.83% return, which is significantly higher than AVEM's 21.00% return.

RFEM

1D
2.41%
1M
3.19%
6M
13.56%
YTD
22.83%
1Y
38.19%
3Y*
23.80%
5Y*
10.31%
10Y*
9.23%
ALL TIME*
10.20%

AVEM

1D
2.63%
1M
0.17%
6M
11.13%
YTD
21.00%
1Y
36.52%
3Y*
22.08%
5Y*
9.79%
10Y*
—
ALL TIME*
12.10%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

AVEM

Avantis Emerging Markets Equity ETF
$180.64M$187.98M$182.78M

RFEM

First Trust RiverFront Dynamic Emerging Markets ETF
$193.28K$278.11K$267.58K

RFEM vs. AVEM - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
RFEM
First Trust RiverFront Dynamic Emerging Markets ETF		22.83%27.71%10.85%20.78%-19.05%0.97%8.19%11.90%
AVEM
Avantis Emerging Markets Equity ETF		21.00%34.48%7.49%15.30%-18.15%5.16%14.39%10.40%

Correlation

The correlation between RFEM and AVEM is 0.93, 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.

0.93

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

0.94

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

0.93

Correlation (All Time)
Calculated using the full available price history since Sep 19, 2019

0.93

The correlation between RFEM and AVEM has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

RFEM vs. AVEM - Sectors Allocation Comparison

Sectors
RFEM
AVEM

Technology

36.5%
41.9%

Financial Services

22.3%
18.9%

Consumer Cyclical

10.7%
7.3%

Industrials

8.4%
7.9%

Energy

5.6%
3.9%

Communication Services

5.1%
4.9%

Basic Materials

4.0%
6.4%

Consumer Defensive

2.9%
2.7%

Healthcare

2.4%
2.6%

Utilities

1.3%
2.2%

Real Estate

0.6%
1.4%

Technology

RFEM
36.5%
AVEM
41.9%

Financial Services

RFEM
22.3%
AVEM
18.9%

Consumer Cyclical

RFEM
10.7%
AVEM
7.3%

Industrials

RFEM
8.4%
AVEM
7.9%

Energy

RFEM
5.6%
AVEM
3.9%

Communication Services

RFEM
5.1%
AVEM
4.9%

Basic Materials

RFEM
4.0%
AVEM
6.4%

Consumer Defensive

RFEM
2.9%
AVEM
2.7%

Healthcare

RFEM
2.4%
AVEM
2.6%

Utilities

RFEM
1.3%
AVEM
2.2%

Real Estate

RFEM
0.6%
AVEM
1.4%

Compare stocks, funds, or ETFs

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

First Trust RiverFront Dynamic Emerging Markets ETF

Avantis Emerging Markets Equity ETF

Often compared with RFEM:
RFEM vs. FEMRFEM vs. ALTYRFEM vs. NFTYRFEM vs. INDYRFEM vs. EEMRFEM vs. EMCRRFEM vs. ECOW
Often compared with AVEM:
AVEM vs. AVESAVEM vs. VWOAVEM vs. EIMI.LAVEM vs. AVDEAVEM vs. VXUSAVEM vs. DFAEAVEM vs. FNDE

Return for Risk

RFEM vs. AVEM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
RFEM
RFEM Risk / Return Rank: 7777
Overall Rank
RFEM Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
RFEM Sortino Ratio Rank: 7474
Sortino Ratio Rank
RFEM Omega Ratio Rank: 7676
Omega Ratio Rank
RFEM Calmar Ratio Rank: 8181
Calmar Ratio Rank
RFEM Martin Ratio Rank: 7979
Martin Ratio Rank
AVEM
AVEM Risk / Return Rank: 5959
Overall Rank
AVEM Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
AVEM Sortino Ratio Rank: 5252
Sortino Ratio Rank
AVEM Omega Ratio Rank: 6060
Omega Ratio Rank
AVEM Calmar Ratio Rank: 6666
Calmar Ratio Rank
AVEM 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.

RFEM vs. AVEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) and Avantis Emerging Markets Equity ETF (AVEM). 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.

RFEMAVEMDifference
Sharpe ratioReturn per unit of total volatility
1.99
1.53

+0.46

Sortino ratioReturn per unit of downside risk
2.68
2.06

+0.62

Omega ratioGain probability vs. loss probability

1.36

1.29

+0.07

Calmar ratioReturn relative to maximum drawdown

3.29

2.57

+0.73

Martin ratioReturn relative to average drawdown

11.62

8.10

+3.51

RFEM vs. AVEM - Sharpe Ratio Comparison

The current RFEM Sharpe Ratio is 1.99, which is higher than the AVEM Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of RFEM and AVEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

RFEM vs. AVEM - Drawdown Comparison

The maximum RFEM drawdown since its inception was -42.22%, which is greater than AVEM's maximum drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for RFEM and AVEM.

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Drawdown Indicators

RFEMAVEMDifference

Max Drawdown

Largest peak-to-trough decline

-42.22%

-36.05%

-6.17%

Max Drawdown (1Y)

Largest decline over 1 year

-11.65%

-14.28%

+2.63%

Max Drawdown (3Y)

Largest decline over 3 years

-15.81%

-18.02%

+2.21%

Max Drawdown (5Y)

Largest decline over 5 years

-32.47%

-31.81%

-0.66%

Max Drawdown (10Y)

Largest decline over 10 years

-42.22%

—

—

Current Drawdown

Current decline from peak

-0.44%

-7.57%

+7.13%

Average Drawdown

Average peak-to-trough decline

-11.84%

-10.01%

-1.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.30%

4.52%

-1.22%

Volatility

RFEM vs. AVEM - Volatility Comparison

The current volatility for First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) is 6.93%, while Avantis Emerging Markets Equity ETF (AVEM) has a volatility of 8.67%. This indicates that RFEM experiences smaller price fluctuations and is considered to be less risky than AVEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

RFEMAVEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.93%

8.67%

-1.74%

Volatility (6M)

Calculated over the trailing 6-month period

17.06%

21.90%

-4.84%

Volatility (1Y)

Calculated over the trailing 1-year period

19.26%

24.02%

-4.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.26%

19.37%

-1.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.74%

21.08%

-1.34%

RFEM vs. AVEM - Expense Ratio Comparison

RFEM has a 0.95% expense ratio, which is higher than AVEM's 0.33% expense ratio.

Dividends

RFEM vs. AVEM - Dividend Comparison

RFEM's dividend yield for the trailing twelve months is around 2.58%, more than AVEM's 1.89% yield.

PositionTTM2025202420232022202120202019201820172016
AVEM
Avantis Emerging Markets Equity ETF		1.89%2.45%3.17%3.06%2.77%2.61%1.60%0.35%0.00%0.00%0.00%
RFEM
First Trust RiverFront Dynamic Emerging Markets ETF		2.58%1.98%3.64%3.28%7.74%3.21%1.22%3.75%2.37%1.62%3.73%

Frequently Asked Questions

With a correlation of 0.93, RFEM and AVEM 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.

AVEM has higher volatility (8.67%) compared to RFEM (6.93%). In terms of maximum drawdown, RFEM dropped -42.22% vs AVEM's -36.05%.

On 5-year performance, RFEM leads with 10.31% vs 9.79% for AVEM. On fees, AVEM is cheaper at 0.33% per year. On volatility, RFEM has been the lower-risk option at 6.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, RFEM has performed better with a 10.31% return vs 9.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

AVEM is cheaper with a 0.33% expense ratio, compared with 0.95% for RFEM.

RFEM has the higher dividend yield at 2.58%, compared with 1.89% for AVEM.

They also come from different issuers: First Trust and Avantis. Their fees differ too: 0.95% for RFEM and 0.33% for AVEM.

RFEM currently has the higher Sharpe Ratio (1.99 vs 1.53), 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.

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