RNEM vs. EVLU

Last updated Jun 4, 2026

RNEM (First Trust Emerging Markets Equity Select ETF) and EVLU (iShares MSCI Emerging Markets Value Factor ETF) are both Emerging Markets Equities funds - RNEM tracks the Nasdaq Riskalyze Emerging Markets Equity Select Index while EVLU tracks the MSCI Emerging Markets Value Factor Select Index (Net). Both are passively managed. Over the past year, RNEM returned 3.68% vs 72.04% for EVLU. A 0.78 correlation means they provide meaningful diversification when combined. RNEM charges 0.75%/yr vs 0.35%/yr for EVLU.

Performance

RNEM vs. EVLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Emerging Markets Equity Select ETF (RNEM) and iShares MSCI Emerging Markets Value Factor ETF (EVLU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RNEM achieves a -1.51% return, which is significantly lower than EVLU's 34.01% return.

RNEM

• 1D: -1.34%
• 1M: -1.29%
• YTD: -1.51%
• 6M: -0.99%
• 1Y: 3.68%
• 3Y*: 7.58%
• 5Y*: 3.88%
• 10Y*: —

EVLU

• 1D: -2.27%
• 1M: 15.31%
• YTD: 34.01%
• 6M: 37.37%
• 1Y: 72.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RNEM vs. EVLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RNEM First Trust Emerging Markets Equity Select ETF	-1.51%	15.58%	-3.34%
EVLU iShares MSCI Emerging Markets Value Factor ETF	34.01%	38.54%	1.61%

Correlation

The correlation between RNEM and EVLU is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (All Time) Calculated using the full available price history since Sep 9, 2024	0.78

The correlation between RNEM and EVLU has been stable across timeframes, ranging from 0.77 to 0.78 - a consistent structural relationship.

Return for Risk

RNEM vs. EVLU — Risk / Return Rank

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

RNEM

RNEM Risk / Return Rank: 12
RNEM Sharpe Ratio Rank: 12
RNEM Sortino Ratio Rank: 12
RNEM Omega Ratio Rank: 12
RNEM Calmar Ratio Rank: 13
RNEM Martin Ratio Rank: 13

EVLU

EVLU Risk / Return Rank: 92
EVLU Sharpe Ratio Rank: 95
EVLU Sortino Ratio Rank: 93
EVLU Omega Ratio Rank: 93
EVLU Calmar Ratio Rank: 90
EVLU 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.

RNEM vs. EVLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Emerging Markets Equity Select ETF (RNEM) and iShares MSCI Emerging Markets Value Factor ETF (EVLU). 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.

	RNEM	EVLU	Difference
Sharpe ratio: Return per unit of total volatility	0.28	3.80	-3.53
Sortino ratio: Return per unit of downside risk	0.50	4.71	-4.22
Omega ratio: Gain probability vs. loss probability	1.06	1.67	-0.61
Calmar ratio: Return relative to maximum drawdown	0.34	5.61	-5.27
Martin ratio: Return relative to average drawdown	0.80	20.79	-19.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RNEM vs. EVLU - Sharpe Ratio Comparison

The current RNEM Sharpe Ratio is 0.28, which is lower than the EVLU Sharpe Ratio of 3.80. The chart below compares the historical Sharpe Ratios of RNEM and EVLU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RNEM	EVLU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.28	3.80	-3.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	2.23	-2.00

Drawdowns

RNEM vs. EVLU - Drawdown Comparison

The maximum RNEM drawdown since its inception was -38.38%, which is greater than EVLU's maximum drawdown of -17.17%. Use the drawdown chart below to compare losses from any high point for RNEM and EVLU.

Drawdown Indicators

	RNEM	EVLU	Difference
Max Drawdown Largest peak-to-trough decline	-38.38%	-17.17%	-21.21%
Max Drawdown (1Y) Largest decline over 1 year	-10.71%	-12.90%	+2.19%
Max Drawdown (3Y) Largest decline over 3 years	-13.09%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.41%	—	—
Current Drawdown Current decline from peak	-7.46%	-2.27%	-5.19%
Average Drawdown Average peak-to-trough decline	-9.30%	-3.48%	-5.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.59%	3.48%	+1.11%

Volatility

RNEM vs. EVLU - Volatility Comparison

The current volatility for First Trust Emerging Markets Equity Select ETF (RNEM) is 4.23%, while iShares MSCI Emerging Markets Value Factor ETF (EVLU) has a volatility of 9.17%. This indicates that RNEM experiences smaller price fluctuations and is considered to be less risky than EVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RNEM	EVLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.23%	9.17%	-4.94%
Volatility (6M) Calculated over the trailing 6-month period	10.37%	16.23%	-5.86%
Volatility (1Y) Calculated over the trailing 1-year period	13.31%	19.04%	-5.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.40%	19.93%	-5.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.22%	19.93%	-2.71%

RNEM vs. EVLU - Expense Ratio Comparison

RNEM has a 0.75% expense ratio, which is higher than EVLU's 0.35% expense ratio.

Dividends

RNEM vs. EVLU - Dividend Comparison

RNEM's dividend yield for the trailing twelve months is around 2.79%, less than EVLU's 3.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EVLU iShares MSCI Emerging Markets Value Factor ETF	3.88%	5.20%	1.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RNEM First Trust Emerging Markets Equity Select ETF	2.79%	2.75%	3.45%	1.63%	2.99%	3.20%	3.01%	2.85%	2.85%	2.28%

Frequently Asked Questions

Can I hold both RNEM and EVLU in my portfolio?

RNEM and EVLU have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RNEM or EVLU?

EVLU has higher volatility (9.17%) compared to RNEM (4.23%). In terms of maximum drawdown, RNEM dropped -38.38% vs EVLU's -17.17%.

Which ETF is better, RNEM or EVLU?

On 1-year performance, EVLU leads with 72.04% vs 3.68% for RNEM. On fees, EVLU is cheaper at 0.35% per year. On volatility, RNEM has been the lower-risk option at 4.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RNEM or EVLU?

Over the 1-year period, EVLU has performed better with a 72.04% return vs 3.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RNEM or EVLU?

EVLU is cheaper with a 0.35% expense ratio, compared with 0.75% for RNEM.

Which ETF pays a higher dividend yield, RNEM or EVLU?

EVLU has the higher dividend yield at 3.88%, compared with 2.79% for RNEM.

What is the main difference between RNEM and EVLU?

RNEM tracks Nasdaq Riskalyze Emerging Markets Equity Select Index, while EVLU tracks MSCI Emerging Markets Value Factor Select Index (Net). They also come from different issuers: First Trust and iShares. Their fees differ too: 0.75% for RNEM and 0.35% for EVLU.

Which has better risk-adjusted returns?

EVLU currently has the higher Sharpe Ratio (3.80 vs 0.28), 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.