RFEM vs. AVEM

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) and Avantis Emerging Markets Equity ETF (AVEM).

RFEM and AVEM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RFEM is an actively managed fund by First Trust. It was launched on Jun 14, 2016. AVEM is a passively managed fund by American Century that tracks the performance of the MSCI Emerging Markets Index. It was launched on Sep 17, 2019.

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.

RFEM vs. AVEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
RFEM First Trust RiverFront Dynamic Emerging Markets ETF	3.81%	27.71%	10.85%	20.78%	-19.05%	0.97%	8.19%	12.52%
AVEM Avantis Emerging Markets Equity ETF	4.70%	34.48%	7.49%	15.30%	-18.15%	5.16%	14.39%	11.13%

Returns By Period

In the year-to-date period, RFEM achieves a 3.81% return, which is significantly lower than AVEM's 4.70% return.

RFEM

• 1D: 3.53%
• 1M: -7.56%
• YTD: 3.81%
• 6M: 9.28%
• 1Y: 28.91%
• 3Y*: 18.90%
• 5Y*: 6.34%
• 10Y*: —

AVEM

• 1D: 3.60%
• 1M: -9.09%
• YTD: 4.70%
• 6M: 9.02%
• 1Y: 37.57%
• 3Y*: 18.51%
• 5Y*: 6.97%
• 10Y*: —

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

RFEM vs. AVEM - Expense Ratio Comparison

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

RFEM

First Trust RiverFront Dynamic Emerging Markets ETF

AVEM

Avantis Emerging Markets Equity ETF

Return for Risk

RFEM vs. AVEM — Risk / Return Rank

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

RFEM

RFEM Risk / Return Rank: 83
RFEM Sharpe Ratio Rank: 82
RFEM Sortino Ratio Rank: 84
RFEM Omega Ratio Rank: 81
RFEM Calmar Ratio Rank: 83
RFEM Martin Ratio Rank: 84

AVEM

AVEM Risk / Return Rank: 90
AVEM Sharpe Ratio Rank: 90
AVEM Sortino Ratio Rank: 90
AVEM Omega Ratio Rank: 90
AVEM Calmar Ratio Rank: 90
AVEM Martin Ratio Rank: 90

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.

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.

	RFEM	AVEM	Difference
Sharpe ratio Return per unit of total volatility	1.60	1.89	-0.28
Sortino ratio Return per unit of downside risk	2.23	2.48	-0.25
Omega ratio Gain probability vs. loss probability	1.32	1.37	-0.05
Calmar ratio Return relative to maximum drawdown	2.41	2.82	-0.41
Martin ratio Return relative to average drawdown	9.67	11.10	-1.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RFEM vs. AVEM - Sharpe Ratio Comparison

The current RFEM Sharpe Ratio is 1.60, which is comparable to the AVEM Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of RFEM and AVEM, 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

	RFEM	AVEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.60	1.89	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.39	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.51	-0.07

Correlation

The correlation between RFEM and AVEM is 0.94, 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

RFEM vs. AVEM - Dividend Comparison

RFEM's dividend yield for the trailing twelve months is around 1.97%, less than AVEM's 2.41% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
RFEM First Trust RiverFront Dynamic Emerging Markets ETF	1.97%	1.98%	3.64%	3.28%	7.74%	3.21%	1.22%	3.75%	2.37%	1.62%	3.73%
AVEM Avantis Emerging Markets Equity ETF	2.41%	2.45%	3.17%	3.06%	2.77%	2.61%	1.60%	0.35%	0.00%	0.00%	0.00%

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.

Drawdown Indicators

	RFEM	AVEM	Difference
Max Drawdown Largest peak-to-trough decline	-42.22%	-36.05%	-6.17%
Max Drawdown (1Y) Largest decline over 1 year	-11.90%	-13.13%	+1.23%
Max Drawdown (5Y) Largest decline over 5 years	-35.06%	-34.00%	-1.06%
Current Drawdown Current decline from peak	-8.53%	-10.00%	+1.47%
Average Drawdown Average peak-to-trough decline	-12.16%	-10.30%	-1.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	3.34%	-0.37%

Volatility

RFEM vs. AVEM - Volatility Comparison

The current volatility for First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) is 8.78%, while Avantis Emerging Markets Equity ETF (AVEM) has a volatility of 10.36%. 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.

Volatility by Period

	RFEM	AVEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.78%	10.36%	-1.58%
Volatility (6M) Calculated over the trailing 6-month period	12.83%	14.72%	-1.89%
Volatility (1Y) Calculated over the trailing 1-year period	18.10%	20.03%	-1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.58%	17.87%	-0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.76%	20.37%	-0.61%