SKOR vs. FDEM
SKOR (FlexShares Credit-Scored US Corporate Bond Index Fund) and FDEM (Fidelity Emerging Markets Multifactor ETF) are both exchange-traded funds - SKOR is a Corporate Bonds fund tracking the NorthernTrustUS Corporate Bond Quality Value Index, while FDEM is a Emerging Markets Equities fund tracking the Fidelity Targeted Emerging Markets Factor Index. Both are passively managed. Over the past 5 years, SKOR returned 1.74%/yr vs 9.14%/yr for FDEM. At a 0.20 correlation, their price movements are largely independent. SKOR charges 0.22%/yr vs 0.45%/yr for FDEM.
Performance
SKOR vs. FDEM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SKOR achieves a 0.54% return, which is significantly lower than FDEM's 20.05% return.
SKOR
- 1D
- -0.05%
- 1M
- 0.37%
- YTD
- 0.54%
- 6M
- 1.02%
- 1Y
- 5.20%
- 3Y*
- 6.13%
- 5Y*
- 1.74%
- 10Y*
- 2.88%
FDEM
- 1D
- 0.22%
- 1M
- 0.88%
- YTD
- 20.05%
- 6M
- 22.29%
- 1Y
- 38.42%
- 3Y*
- 21.94%
- 5Y*
- 9.14%
- 10Y*
- —
SKOR vs. FDEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 0.54% | 7.99% | 4.42% | 7.64% | -9.88% | -1.40% | 8.84% | 7.96% |
FDEM Fidelity Emerging Markets Multifactor ETF | 20.05% | 26.75% | 9.34% | 17.26% | -13.11% | -3.52% | 8.87% | 5.60% |
Correlation
The correlation between SKOR and FDEM is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2019 | 0.20 |
The correlation between SKOR and FDEM shifts across timeframes, from 0.20 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SKOR vs. FDEM — Risk / Return Rank
SKOR
FDEM
SKOR vs. FDEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) and Fidelity Emerging Markets Multifactor ETF (FDEM). 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.
| SKOR | FDEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.36 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 2.88 | -0.50 |
| Martin ratioReturn relative to average drawdown | 8.31 | 10.85 | -2.54 |
Loading charts...
Drawdowns
SKOR vs. FDEM - Drawdown Comparison
The maximum SKOR drawdown since its inception was -15.98%, smaller than the maximum FDEM drawdown of -33.65%. Use the drawdown chart below to compare losses from any high point for SKOR and FDEM.
Loading charts...
Drawdown Indicators
| SKOR | FDEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.98% | -33.65% | +17.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.09% | -12.70% | +10.61% |
Max Drawdown (3Y)Largest decline over 3 years | -3.11% | -16.04% | +12.93% |
Max Drawdown (5Y)Largest decline over 5 years | -15.13% | -28.47% | +13.34% |
Max Drawdown (10Y)Largest decline over 10 years | -15.98% | — | — |
Current DrawdownCurrent decline from peak | -0.57% | -3.51% | +2.94% |
Average DrawdownAverage peak-to-trough decline | -2.65% | -8.82% | +6.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 3.37% | -2.77% |
Volatility
SKOR vs. FDEM - Volatility Comparison
The current volatility for FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) is 0.94%, while Fidelity Emerging Markets Multifactor ETF (FDEM) has a volatility of 9.65%. This indicates that SKOR experiences smaller price fluctuations and is considered to be less risky than FDEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SKOR | FDEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 9.65% | -8.71% |
Volatility (6M)Calculated over the trailing 6-month period | 2.04% | 16.93% | -14.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.71% | 18.94% | -16.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.43% | 16.48% | -12.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.90% | 18.10% | -13.20% |
SKOR vs. FDEM - Expense Ratio Comparison
SKOR has a 0.22% expense ratio, which is lower than FDEM's 0.45% expense ratio.
Dividends
SKOR vs. FDEM - Dividend Comparison
SKOR's dividend yield for the trailing twelve months is around 4.66%, more than FDEM's 2.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDEM Fidelity Emerging Markets Multifactor ETF | 2.72% | 3.23% | 4.05% | 4.41% | 3.95% | 2.71% | 1.84% | 2.39% | 0.00% | 0.00% | 0.00% | 0.00% |
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 4.66% | 4.70% | 4.90% | 3.90% | 2.57% | 2.55% | 3.38% | 3.53% | 2.85% | 2.46% | 2.74% | 2.25% |
Frequently Asked Questions
SKOR and FDEM have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDEM has higher volatility (9.65%) compared to SKOR (0.94%). In terms of maximum drawdown, SKOR dropped -15.98% vs FDEM's -33.65%.
On 5-year performance, FDEM leads with 9.14% vs 1.74% for SKOR. On fees, SKOR is cheaper at 0.22% per year. On volatility, SKOR has been the lower-risk option at 0.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FDEM has performed better with a 9.14% return vs 1.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SKOR is cheaper with a 0.22% expense ratio, compared with 0.45% for FDEM.
SKOR has the higher dividend yield at 4.66%, compared with 2.72% for FDEM.
SKOR is categorized as Corporate Bonds, while FDEM is Emerging Markets Equities. SKOR tracks NorthernTrustUS Corporate Bond Quality Value Index, while FDEM tracks Fidelity Targeted Emerging Markets Factor Index. They also come from different issuers: Northern Trust and Fidelity. Their fees differ too: 0.22% for SKOR and 0.45% for FDEM.
FDEM currently has the higher Sharpe Ratio (1.93 vs 1.84), 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.
Find the right allocation for SKOR and FDEM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer