UEVM vs. FEMR

Last updated Jun 4, 2026

UEVM (VictoryShares Emerging Markets Value Momentum ETF) and FEMR (Fidelity Enhanced Emerging Markets ETF) are both exchange-traded funds - UEVM is a Momentum fund tracking the Nasdaq Victory Emerging Market Value Momentum Index, while FEMR is a Emerging Markets Diversified fund actively managed by Fidelity. UEVM is passively managed, while FEMR is actively managed. Over the past year, UEVM returned 24.92% vs 64.21% for FEMR. Their correlation of 0.83 suggests significant overlap in exposure. UEVM charges 0.45%/yr vs 0.38%/yr for FEMR.

Performance

UEVM vs. FEMR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares Emerging Markets Value Momentum ETF (UEVM) and Fidelity Enhanced Emerging Markets ETF (FEMR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UEVM achieves a 8.99% return, which is significantly lower than FEMR's 34.71% return.

UEVM

• 1D: -1.86%
• 1M: 0.77%
• YTD: 8.99%
• 6M: 8.31%
• 1Y: 24.92%
• 3Y*: 18.34%
• 5Y*: 7.55%
• 10Y*: —

FEMR

• 1D: -0.41%
• 1M: 11.47%
• YTD: 34.71%
• 6M: 39.19%
• 1Y: 64.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UEVM vs. FEMR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UEVM VictoryShares Emerging Markets Value Momentum ETF	8.99%	22.74%	-0.01%
FEMR Fidelity Enhanced Emerging Markets ETF	34.71%	35.27%	-1.49%

Correlation

The correlation between UEVM and FEMR is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since Nov 22, 2024	0.83

The correlation between UEVM and FEMR has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.

Return for Risk

UEVM vs. FEMR — Risk / Return Rank

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

UEVM

UEVM Risk / Return Rank: 49
UEVM Sharpe Ratio Rank: 48
UEVM Sortino Ratio Rank: 45
UEVM Omega Ratio Rank: 47
UEVM Calmar Ratio Rank: 52
UEVM Martin Ratio Rank: 51

FEMR

FEMR Risk / Return Rank: 86
FEMR Sharpe Ratio Rank: 89
FEMR Sortino Ratio Rank: 85
FEMR Omega Ratio Rank: 88
FEMR Calmar Ratio Rank: 84
FEMR Martin Ratio Rank: 85

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.

UEVM vs. FEMR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares Emerging Markets Value Momentum ETF (UEVM) and Fidelity Enhanced Emerging Markets ETF (FEMR). 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.

	UEVM	FEMR	Difference
Sharpe ratio: Return per unit of total volatility	1.65	3.05	-1.40
Sortino ratio: Return per unit of downside risk	2.26	3.85	-1.59
Omega ratio: Gain probability vs. loss probability	1.30	1.56	-0.26
Calmar ratio: Return relative to maximum drawdown	2.56	4.46	-1.90
Martin ratio: Return relative to average drawdown	8.65	17.85	-9.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UEVM vs. FEMR - Sharpe Ratio Comparison

The current UEVM Sharpe Ratio is 1.65, which is lower than the FEMR Sharpe Ratio of 3.05. The chart below compares the historical Sharpe Ratios of UEVM and FEMR, 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

	UEVM	FEMR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	3.05	-1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	2.22	-1.90

Drawdowns

UEVM vs. FEMR - Drawdown Comparison

The maximum UEVM drawdown since its inception was -45.44%, which is greater than FEMR's maximum drawdown of -15.58%. Use the drawdown chart below to compare losses from any high point for UEVM and FEMR.

Drawdown Indicators

	UEVM	FEMR	Difference
Max Drawdown Largest peak-to-trough decline	-45.44%	-15.58%	-29.86%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-14.47%	+4.68%
Max Drawdown (3Y) Largest decline over 3 years	-18.88%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.98%	—	—
Current Drawdown Current decline from peak	-2.18%	-0.41%	-1.77%
Average Drawdown Average peak-to-trough decline	-11.67%	-2.31%	-9.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	3.61%	-0.72%

Volatility

UEVM vs. FEMR - Volatility Comparison

The current volatility for VictoryShares Emerging Markets Value Momentum ETF (UEVM) is 5.15%, while Fidelity Enhanced Emerging Markets ETF (FEMR) has a volatility of 8.63%. This indicates that UEVM experiences smaller price fluctuations and is considered to be less risky than FEMR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UEVM	FEMR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.15%	8.63%	-3.48%
Volatility (6M) Calculated over the trailing 6-month period	12.13%	18.52%	-6.39%
Volatility (1Y) Calculated over the trailing 1-year period	15.18%	21.17%	-5.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.90%	21.28%	-5.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.39%	21.28%	-2.89%

UEVM vs. FEMR - Expense Ratio Comparison

UEVM has a 0.45% expense ratio, which is higher than FEMR's 0.38% expense ratio.

Dividends

UEVM vs. FEMR - Dividend Comparison

UEVM's dividend yield for the trailing twelve months is around 3.05%, more than FEMR's 1.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEMR Fidelity Enhanced Emerging Markets ETF	1.39%	1.92%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UEVM VictoryShares Emerging Markets Value Momentum ETF	3.05%	4.02%	5.65%	4.71%	3.46%	4.49%	2.19%	2.79%	2.34%	0.79%

Frequently Asked Questions

Can I hold both UEVM and FEMR in my portfolio?

UEVM and FEMR have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UEVM or FEMR?

FEMR has higher volatility (8.63%) compared to UEVM (5.15%). In terms of maximum drawdown, UEVM dropped -45.44% vs FEMR's -15.58%.

Which ETF is better, UEVM or FEMR?

On 1-year performance, FEMR leads with 64.21% vs 24.92% for UEVM. On fees, FEMR is cheaper at 0.38% per year. On volatility, UEVM has been the lower-risk option at 5.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UEVM or FEMR?

Over the 1-year period, FEMR has performed better with a 64.21% return vs 24.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UEVM or FEMR?

FEMR is cheaper with a 0.38% expense ratio, compared with 0.45% for UEVM.

Which ETF pays a higher dividend yield, UEVM or FEMR?

UEVM has the higher dividend yield at 3.05%, compared with 1.39% for FEMR.

What is the main difference between UEVM and FEMR?

UEVM is categorized as Momentum, while FEMR is Emerging Markets Diversified. They also come from different issuers: Victory Capital and Fidelity. Their fees differ too: 0.45% for UEVM and 0.38% for FEMR.

Which has better risk-adjusted returns?

FEMR currently has the higher Sharpe Ratio (3.05 vs 1.65), 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.