RFEM vs. EMCR

Last updated Aug 5, 2026

RFEM (First Trust RiverFront Dynamic Emerging Markets ETF) and EMCR (Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF) are both Emerging Markets Equities funds. RFEM is actively managed, while EMCR is passively managed. Over the past 5 years, RFEM returned 10.31%/yr vs 8.40%/yr for EMCR. Their correlation of 0.87 means they have usually moved in the same direction. RFEM charges 0.95%/yr vs 0.15%/yr for EMCR.

Performance

RFEM vs. EMCR - Performance Comparison

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

Returns By Period

In the year-to-date period, RFEM achieves a 22.83% return, which is significantly higher than EMCR's 18.12% 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%

EMCR

• 1D: 2.37%
• 1M: 0.98%
• 6M: 9.43%
• YTD: 18.12%
• 1Y: 34.13%
• 3Y*: 20.55%
• 5Y*: 8.40%
• 10Y*: —
• ALL TIME*: 10.96%

*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)
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	$103.65K	$132.98K	$134.88K
RFEM First Trust RiverFront Dynamic Emerging Markets ETF	$193.28K	$278.11K	$267.58K

RFEM vs. EMCR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
RFEM First Trust RiverFront Dynamic Emerging Markets ETF	22.83%	27.71%	10.85%	20.78%	-19.05%	0.97%	8.19%	20.33%	0.30%
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	18.12%	33.25%	9.69%	10.55%	-18.73%	5.54%	13.49%	22.41%	-2.49%

Correlation

The correlation between RFEM and EMCR is 0.92, 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.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (All Time) Calculated using the full available price history since Dec 6, 2018	0.87

The correlation between RFEM and EMCR has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

RFEM vs. EMCR - Sectors Allocation Comparison

Sectors	RFEM	EMCR
Technology	36.5%	39.3%
Financial Services	22.3%	20.8%
Consumer Cyclical	10.7%	8.6%
Industrials	8.4%	4.9%
Energy	5.6%	0.0%
Communication Services	5.1%	8.9%
Basic Materials	4.0%	3.3%
Consumer Defensive	2.9%	2.6%
Healthcare	2.4%	5.2%
Utilities	1.3%	1.4%
Real Estate	0.6%	1.5%

Return for Risk

RFEM vs. EMCR — Risk / Return Rank

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

RFEM

RFEM Risk / Return Rank: 77
RFEM Sharpe Ratio Rank: 78
RFEM Sortino Ratio Rank: 74
RFEM Omega Ratio Rank: 76
RFEM Calmar Ratio Rank: 81
RFEM Martin Ratio Rank: 79

EMCR

EMCR Risk / Return Rank: 55
EMCR Sharpe Ratio Rank: 52
EMCR Sortino Ratio Rank: 49
EMCR Omega Ratio Rank: 53
EMCR Calmar Ratio Rank: 62
EMCR Martin Ratio Rank: 57

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. EMCR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) and Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR). 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.

	RFEM	EMCR	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.46	+0.54
Sortino ratio: Return per unit of downside risk	2.68	1.97	+0.71
Omega ratio: Gain probability vs. loss probability	1.36	1.27	+0.08
Calmar ratio: Return relative to maximum drawdown	3.29	2.48	+0.82
Martin ratio: Return relative to average drawdown	11.62	7.61	+4.01

RFEM vs. EMCR - Sharpe Ratio Comparison

The current RFEM Sharpe Ratio is 1.99, which is higher than the EMCR Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of RFEM and EMCR, 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

RFEM vs. EMCR - Drawdown Comparison

The maximum RFEM drawdown since its inception was -42.22%, which is greater than EMCR's maximum drawdown of -34.28%. Use the drawdown chart below to compare losses from any high point for RFEM and EMCR.

Drawdown Indicators

	RFEM	EMCR	Difference
Max Drawdown Largest peak-to-trough decline	-42.22%	-34.28%	-7.94%
Max Drawdown (1Y) Largest decline over 1 year	-11.65%	-13.84%	+2.19%
Max Drawdown (3Y) Largest decline over 3 years	-15.81%	-18.38%	+2.57%
Max Drawdown (5Y) Largest decline over 5 years	-32.47%	-34.28%	+1.81%
Max Drawdown (10Y) Largest decline over 10 years	-42.22%	—	—
Current Drawdown Current decline from peak	-0.44%	-5.71%	+5.27%
Average Drawdown Average peak-to-trough decline	-11.84%	-9.26%	-2.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	4.50%	-1.20%

Volatility

RFEM vs. EMCR - Volatility Comparison

The current volatility for First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) is 6.93%, while Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) has a volatility of 8.20%. This indicates that RFEM experiences smaller price fluctuations and is considered to be less risky than EMCR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RFEM	EMCR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.93%	8.20%	-1.27%
Volatility (6M) Calculated over the trailing 6-month period	17.06%	21.31%	-4.25%
Volatility (1Y) Calculated over the trailing 1-year period	19.26%	23.57%	-4.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.26%	20.16%	-1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.74%	20.28%	-0.54%

RFEM vs. EMCR - Expense Ratio Comparison

RFEM has a 0.95% expense ratio, which is higher than EMCR's 0.15% expense ratio.

Dividends

RFEM vs. EMCR - Dividend Comparison

RFEM's dividend yield for the trailing twelve months is around 2.58%, more than EMCR's 1.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	1.48%	2.43%	6.62%	1.95%	3.05%	1.83%	1.75%	3.15%	0.19%	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

Can I hold both RFEM and EMCR in my portfolio?

With a correlation of 0.92, RFEM and EMCR 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, RFEM or EMCR?

EMCR has higher volatility (8.20%) compared to RFEM (6.93%). In terms of maximum drawdown, RFEM dropped -42.22% vs EMCR's -34.28%.

Which ETF is better, RFEM or EMCR?

On 5-year performance, RFEM leads with 10.31% vs 8.40% for EMCR. On fees, EMCR is cheaper at 0.15% 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.

Which ETF has performed better, RFEM or EMCR?

Over the 5-year period, RFEM has performed better with a 10.31% return vs 8.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RFEM or EMCR?

EMCR is cheaper with a 0.15% expense ratio, compared with 0.95% for RFEM.

Which ETF pays a higher dividend yield, RFEM or EMCR?

RFEM has the higher dividend yield at 2.58%, compared with 1.48% for EMCR.

What is the main difference between RFEM and EMCR?

They also come from different issuers: First Trust and Deutsche Bank. Their fees differ too: 0.95% for RFEM and 0.15% for EMCR.

Which has better risk-adjusted returns?

RFEM currently has the higher Sharpe Ratio (1.99 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.