RFEM vs. EMSF
RFEM (First Trust RiverFront Dynamic Emerging Markets ETF) and EMSF (Matthews Emerging Markets Sustainable Future Active ETF) are both Emerging Markets Equities funds. Both are actively managed. Over the past year, RFEM returned 33.67% vs 42.52% for EMSF. Their correlation of 0.86 means they have usually moved in the same direction. RFEM charges 0.95%/yr vs 0.79%/yr for EMSF.
Performance
RFEM vs. EMSF - Performance Comparison
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Returns By Period
In the year-to-date period, RFEM achieves a 17.85% return, which is significantly lower than EMSF's 30.73% return.
RFEM
- 1D
- 1.21%
- 1M
- -1.00%
- 6M
- 9.94%
- YTD
- 17.85%
- 1Y
- 33.67%
- 3Y*
- 21.15%
- 5Y*
- 9.66%
- 10Y*
- 8.95%
- ALL TIME*
- 9.76%
EMSF
- 1D
- 0.83%
- 1M
- -8.36%
- 6M
- 17.49%
- YTD
- 30.73%
- 1Y
- 42.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.92%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $80.02K | $93.23K | $184.42K | |
| $175.57K | $273.16K | $280.47K |
RFEM vs. EMSF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
RFEM First Trust RiverFront Dynamic Emerging Markets ETF | 17.85% | 27.71% | 10.85% | 12.37% |
EMSF Matthews Emerging Markets Sustainable Future Active ETF | 30.73% | 19.20% | -3.09% | 0.98% |
Correlation
The correlation between RFEM and EMSF is 0.89, 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. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023 | 0.86 |
The correlation between RFEM and EMSF has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.
RFEM vs. EMSF - Sectors Allocation Comparison
Sectors
RFEM
EMSF
Technology
Financial Services
Consumer Cyclical
Industrials
Energy
-
Communication Services
Basic Materials
-
Consumer Defensive
Healthcare
Utilities
Real Estate
Technology
RFEM
EMSF
Financial Services
RFEM
EMSF
Consumer Cyclical
RFEM
EMSF
Industrials
RFEM
EMSF
Energy
RFEM
EMSF
-
Communication Services
RFEM
EMSF
Basic Materials
RFEM
EMSF
-
Consumer Defensive
RFEM
EMSF
Healthcare
RFEM
EMSF
Utilities
RFEM
EMSF
Real Estate
RFEM
EMSF
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Return for Risk
RFEM vs. EMSF — Risk / Return Rank
RFEM
EMSF
RFEM vs. EMSF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) and Matthews Emerging Markets Sustainable Future Active ETF (EMSF). 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 | EMSF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.25 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 2.10 | +0.75 |
| Martin ratioReturn relative to average drawdown | 10.09 | 7.05 | +3.04 |
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Drawdowns
RFEM vs. EMSF - Drawdown Comparison
The maximum RFEM drawdown since its inception was -42.22%, which is greater than EMSF's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for RFEM and EMSF.
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Drawdown Indicators
| RFEM | EMSF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.22% | -24.75% | -17.47% |
Max Drawdown (1Y)Largest decline over 1 year | -11.65% | -19.49% | +7.84% |
Max Drawdown (3Y)Largest decline over 3 years | -15.81% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -32.47% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.22% | — | — |
Current DrawdownCurrent decline from peak | -4.48% | -15.62% | +11.14% |
Average DrawdownAverage peak-to-trough decline | -11.85% | -5.91% | -5.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.29% | 5.80% | -2.51% |
Volatility
RFEM vs. EMSF - Volatility Comparison
The current volatility for First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) is 6.31%, while Matthews Emerging Markets Sustainable Future Active ETF (EMSF) has a volatility of 10.79%. This indicates that RFEM experiences smaller price fluctuations and is considered to be less risky than EMSF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RFEM | EMSF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.31% | 10.79% | -4.48% |
Volatility (6M)Calculated over the trailing 6-month period | 16.90% | 26.54% | -9.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.07% | 30.10% | -11.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.22% | 24.40% | -6.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.71% | 24.40% | -4.69% |
RFEM vs. EMSF - Expense Ratio Comparison
RFEM has a 0.95% expense ratio, which is higher than EMSF's 0.79% expense ratio.
Dividends
RFEM vs. EMSF - Dividend Comparison
RFEM's dividend yield for the trailing twelve months is around 2.69%, more than EMSF's 1.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
EMSF Matthews Emerging Markets Sustainable Future Active ETF | 1.44% | 1.88% | 3.29% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RFEM First Trust RiverFront Dynamic Emerging Markets ETF | 2.69% | 1.98% | 3.64% | 3.28% | 7.74% | 3.21% | 1.22% | 3.75% | 2.37% | 1.62% | 3.73% |
Frequently Asked Questions
RFEM and EMSF have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMSF has higher volatility (10.79%) compared to RFEM (6.31%). In terms of maximum drawdown, RFEM dropped -42.22% vs EMSF's -24.75%.
On 1-year performance, EMSF leads with 42.52% vs 33.67% for RFEM. On fees, EMSF is cheaper at 0.79% per year. On volatility, RFEM has been the lower-risk option at 6.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EMSF has performed better with a 42.52% return vs 33.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMSF is cheaper with a 0.79% expense ratio, compared with 0.95% for RFEM.
RFEM has the higher dividend yield at 2.69%, compared with 1.44% for EMSF.
They also come from different issuers: First Trust and Matthews. Their fees differ too: 0.95% for RFEM and 0.79% for EMSF.
RFEM currently has the higher Sharpe Ratio (1.75 vs 1.36), 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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