FDEM
Fidelity Emerging Markets Multifactor ETF
The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Targeted Emerging Markets Factor Index.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
123.8 M
ASSETS UNDER MGMT
25 bp
EXPENSES
Fund Basics
| Fund sponsor | Fidelity |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 26, 2019 |
| Assets (mns) | $124 |
| Expense ratio | 25 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TAIWAN SEMICONDUCTOR MANUFAC | 8.7 % |
| TENCENT HOLDINGS LTD | 4.7 % |
| SAMSUNG ELECTRONICS CO LTD | 2.3 % |
| EMAAR PROPERTIES PJSC | 2.0 % |
| HUAKU DEVELOPMENT CO LTD | 1.6 % |
| TRIP.COM GROUP LTD. | 1.5 % |
| JD.COM, INC. CLASS A | 1.4 % |
| POP MART INTERNATIONAL GROUP LIMITED | 1.3 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 1.2 % |
| CHINA SHENHUA ENERGY CO - H | 1.1 % |
Constituent Breakdown
| Number of holdings | 209 |
| Herfindahl-Hirschman Index | 161 |
| Wgt avg mkt cap (mns) | $131,779 |
| Large cap (>$10bn) | 62.4% |
| Mid cap ($2-10bn) | 33.3% |
| Small cap (<$2bn) | 4.1% |
| Developed mkts. | 7.3% |
| Emerging mkts. | 92.7% |
Country Exposure
 |
CHINA | 25.1 % |
 |
TAIWAN | 20.8 % |
 |
INDIA | 13.8 % |
 |
SOUTH KOREA | 9.1 % |
 |
TURKEY | 3.9 % |
 |
INDONESIA | 3.8 % |
 |
SAUDI ARABIA | 2.9 % |
 |
HONG KONG | 2.9 % |
 |
UAE | 2.8 % |
 |
MEXICO | 2.5 % |
Historical Performance
Standardized Performance (as of 01/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 2.1% | 11.8% | 10.9% | 3.5% | 4.4% | -- | 3.8% | Volatility | 15.9% | 14.1% | 13.4% | 15.4% | 18.5% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.59 | 48% |
| MSCI EAFE | 0.71 | 71% |
| MSCI Emg Mkts | 0.81 | 92% |
Liquidity Measures
| Avg. volume (000) | 40 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.75% |
| ADV of underlying (mns) | $7,084 |
Technical Indicators
| Recent close | $25.80 |
| 30d moving avg. | $25.59 |
| Annualized volatility | 14.7% |
| Relative strength (RSI) | 50 |
| Short interest (ETF) | 1.4% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FDEM |
Expenses vs. FDEM |
ALTAR Score™ vs. FDEM |
|---|---|---|---|---|
| EMGF | iShares Emerging Markets Equity Factor ETF | 37.3% | 0 bp | -2.0% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 36.4% | +5 bp | -3.4% |
| GEM | Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 36.2% | +20 bp | +0.6% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 35.9% | +24 bp | -3.9% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 35.1% | +41 bp | -0.2% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 34.8% | -14 bp | -2.3% |
| EEM | iShares MSCI Emerging Markets ETF | 34.7% | +44 bp | -3.6% |
| AAXJ | iShares MSCI All Country Asia ex Japan ETF | 34.7% | +45 bp | -4.2% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 34.6% | +24 bp | -2.2% |
| EMCR | Xtrackers Emerging Markets Carbon Reduction and Climate Impr | 34.2% | -10 bp | 0.0% |
Risk and Returns: FDEM vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 2/4/2025
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
FDEM
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
FDEM
10.1%
Cat. Avg
7.5%
ALTAR Score™ Calculation
Category Overview
There are 160 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.5% and a standard deviation of
3.9%. FDEM's ALTAR Score™ is approximately
0.7 standard deviations
above
the category average. This places FDEM in the 75th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FDEMSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 103 |
| Avg. Expense Ratio | 64.6 bp |
| Std. Deviation | 29 bp |
| FDEM (25 bp) Percentile rank | 9 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FDEM | 25.0 | 75.1 | 100.1 |
| Peer Avg. | 45.3 | 41.4 | 86.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .