TLTE vs. FDEV
Compare and contrast key facts about FlexShares Morningstar Emerging Markets Factor Tilt Index (TLTE) and Fidelity International Multifactor ETF (FDEV).
TLTE and FDEV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TLTE is a passively managed fund by Northern Trust that tracks the performance of the Morningstar Emerging Markets Factor Tilt Index. It was launched on Sep 28, 2012. FDEV is a passively managed fund by Fidelity that tracks the performance of the Fidelity Targeted International Factor Index. It was launched on Feb 26, 2019. Both TLTE and FDEV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
TLTE vs. FDEV - Performance Comparison
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TLTE vs. FDEV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index | 5.25% | 30.21% | 3.53% | 13.62% | -17.31% | 4.79% | 12.10% | 3.82% |
FDEV Fidelity International Multifactor ETF | 3.83% | 30.36% | 5.84% | 13.37% | -16.54% | 11.00% | 5.49% | 10.06% |
Returns By Period
In the year-to-date period, TLTE achieves a 5.25% return, which is significantly higher than FDEV's 3.83% return.
TLTE
- 1D
- 3.47%
- 1M
- -9.36%
- YTD
- 5.25%
- 6M
- 9.30%
- 1Y
- 33.03%
- 3Y*
- 15.38%
- 5Y*
- 5.48%
- 10Y*
- 7.79%
FDEV
- 1D
- 2.35%
- 1M
- -4.83%
- YTD
- 3.83%
- 6M
- 9.22%
- 1Y
- 25.14%
- 3Y*
- 14.97%
- 5Y*
- 7.95%
- 10Y*
- —
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TLTE vs. FDEV - Expense Ratio Comparison
TLTE has a 0.59% expense ratio, which is higher than FDEV's 0.39% expense ratio.
Return for Risk
TLTE vs. FDEV — Risk / Return Rank
TLTE
FDEV
TLTE vs. FDEV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Morningstar Emerging Markets Factor Tilt Index (TLTE) and Fidelity International Multifactor ETF (FDEV). 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.
| TLTE | FDEV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.82 | 1.73 | +0.09 |
Sortino ratioReturn per unit of downside risk | 2.40 | 2.41 | -0.01 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.35 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 2.48 | 2.85 | -0.37 |
Martin ratioReturn relative to average drawdown | 9.89 | 11.64 | -1.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TLTE | FDEV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.82 | 1.73 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.58 | -0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.53 | -0.26 |
Correlation
The correlation between TLTE and FDEV is 0.70, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
TLTE vs. FDEV - Dividend Comparison
TLTE's dividend yield for the trailing twelve months is around 3.57%, more than FDEV's 2.83% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index | 3.57% | 3.76% | 3.73% | 4.03% | 4.42% | 3.21% | 1.95% | 3.23% | 3.02% | 2.12% | 2.30% | 2.00% |
FDEV Fidelity International Multifactor ETF | 2.83% | 2.86% | 2.99% | 2.80% | 2.65% | 2.81% | 1.88% | 2.73% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
TLTE vs. FDEV - Drawdown Comparison
The maximum TLTE drawdown since its inception was -44.21%, which is greater than FDEV's maximum drawdown of -30.11%. Use the drawdown chart below to compare losses from any high point for TLTE and FDEV.
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Drawdown Indicators
| TLTE | FDEV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.21% | -30.11% | -14.10% |
Max Drawdown (1Y)Largest decline over 1 year | -13.04% | -8.67% | -4.37% |
Max Drawdown (5Y)Largest decline over 5 years | -33.51% | -29.02% | -4.49% |
Max Drawdown (10Y)Largest decline over 10 years | -44.21% | — | — |
Current DrawdownCurrent decline from peak | -10.02% | -4.83% | -5.19% |
Average DrawdownAverage peak-to-trough decline | -12.28% | -6.38% | -5.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 2.13% | +1.14% |
Volatility
TLTE vs. FDEV - Volatility Comparison
FlexShares Morningstar Emerging Markets Factor Tilt Index (TLTE) has a higher volatility of 10.32% compared to Fidelity International Multifactor ETF (FDEV) at 6.22%. This indicates that TLTE's price experiences larger fluctuations and is considered to be riskier than FDEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLTE | FDEV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.32% | 6.22% | +4.10% |
Volatility (6M)Calculated over the trailing 6-month period | 13.94% | 9.15% | +4.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.27% | 14.62% | +3.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.41% | 13.85% | +2.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 15.38% | +2.85% |