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Launched · SEC filings

First Trust Emerging Markets AlphaDEX Fund

FEMNasdaqFirst TrustC

$31.010.00 (−0.02%)

At close: Nov 2, 2026, 4:00 PM ET

C42/ 100

Rank 12 of 20 in Emerging Markets Multifactor

C42/100Rank 12 of 20inEmerging Markets Multifactor
Intraday session: down, 79 prints from 31.02 to 31.01. Range 31.00 to 31.34. Use the arrow keys to read each point.31.1031.2031.3010 AM12 PM2 PM4 PM
Expense ratio
0.80%
Fund size
$756M
1Y total return
+17.7%
Yield · Last 12 months
2.31%
Holdings
163
Avg volume · 30D
99.6K sh
52W range
low $25.93high $35.61
Launched
Filings
SEC EDGAR

The ETF.net FEM Grade

Based on 5 of 6 pillars

C

Score 42 out of 100

Category
Emerging Markets Multifactor⁠
Rank
12 of 20
Six-pillar profile for FEM. Scores out of 100: Cost 3, Risk 63, Mission not scored, Tradability 75, Holdings 65, Durability 79. Strongest: Durability (79). Weakest: Cost (3). Based on 5 of 6 pillars.

Score 42 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F3 out of 100
    Rank 19 of 20

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B63 out of 100
    Rank 5 of 19

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A75 out of 100
    Rank 4 of 20

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B65 out of 100
    Rank 8 of 20

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A79 out of 100
    Rank 2 of 20

Our read on FEM

ETF.net Research

In short

CA 2011-vintage take on emerging markets that skips cap-weighting: it ranks stocks on growth and value factors, keeps the top scorers, and weights them in tiers, so the megacap giants don't run the portfolio. The fee sits at the high end.

Stated mandate

The fund seeks results that generally correspond, before fees and expenses, to the price and yield of the Nasdaq AlphaDEX Emerging Markets Index. It normally invests at least 90% of net assets in index securities and uses indexing to replicate the index.

Why people hold it

  • Ranks emerging-market stocks on growth and value factors, then weights the survivors in tiers, so the strongest scorers carry more weight than size alone would give them.nasdaqomx.com
  • Holds roughly 160 names under tiered equal weighting, leaving more room for mid-size and smaller companies than a cap-weighted EM benchmark.nasdaqomx.com
  • Running since 2011 through several EM cycles, with at least 90% of net assets in index securities and cash paid out quarterly.
  • A few hundred million in assets and moderate volume: no giant, but an established fund rather than a launch-stage one.

Worth knowing

  • At 0.80% a year it costs well above the median fee in its multifactor EM group, where cheaper builds exist (EMGF at 0.26%, AVES at 0.36%).
  • The factor screen and tiered weights can push results well away from headline cap-weighted EM indexes, in either direction.nasdaqomx.com
  • Country and sector weights fall out of the ranking rules, so nobody is steering exposure toward or away from a given market.nasdaqomx.com

FEM Performance

Launched Apr 18, 2011

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

FEM$11,772
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. FEM $11,772. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FEM. Periods over one year show the average yearly return.
PeriodFEM
Year to date+15.2%
1 month−3.7%
3 months+1.7%
1 year+17.7%
3 yearsper year+19.7%
5 yearsper year+7.9%
10 yearsper year+7.9%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FEM
YearReturn barFEM
2026 YTD+15.2%
2025+28.3%
2024+3.0%
2023+10.8%
2022−14.2%
2021+7.3%
2020−1.7%

FEM in the news

FEM Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
2.31%Last 12 months
Payout per share
$0.72Last 12 months
Last payment
$0.28 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 38 payments from 2017 to 2026 YTD. Mar 23, 2017 $0.06; Jun 22, 2017 $0.18; Sep 21, 2017 $0.24; Dec 21, 2017 $0.21; Mar 22, 2018 $0.02; Jun 21, 2018 $0.30; Sep 14, 2018 $0.42; Dec 18, 2018 $0.07; Mar 21, 2019 $0.02; Jun 14, 2019 $0.33; Sep 25, 2019 $0.44; Dec 13, 2019 $0.09; Mar 26, 2020 $0.03; Jun 25, 2020 $0.20; Sep 24, 2020 $0.45; Mar 25, 2021 $0.03; Jun 24, 2021 $0.27; Sep 23, 2021 $0.55; Dec 23, 2021 $0.22; Mar 25, 2022 $0.01; Jun 24, 2022 $0.54; Sep 23, 2022 $0.54; Dec 23, 2022 $0.20; Mar 24, 2023 $0.04; Jun 27, 2023 $0.51; Sep 22, 2023 $0.46; Dec 22, 2023 $0.09; Mar 21, 2024 $0.09; Jun 27, 2024 $0.24; Sep 26, 2024 $0.32; Dec 13, 2024 $0.14; Mar 27, 2025 $0.04; Jun 26, 2025 $0.32; Sep 25, 2025 $0.28; Dec 12, 2025 $0.21; Mar 26, 2026 $0.03; Jun 25, 2026 $0.19; Sep 24, 2026 $0.28. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 24, 2026Sep 30, 2026$0.28
Jun 25, 2026Jun 30, 2026$0.19
Mar 26, 2026Mar 31, 2026$0.03
Dec 12, 2025Dec 31, 2025$0.21
Sep 25, 2025Sep 30, 2025$0.28
Jun 26, 2025Jun 30, 2025$0.32
Mar 27, 2025Mar 31, 2025$0.04
Dec 13, 2024Dec 31, 2024$0.14
Sep 26, 2024Sep 30, 2024$0.32
Jun 27, 2024Jun 28, 2024$0.24
Mar 21, 2024Mar 28, 2024$0.09
Dec 22, 2023Dec 29, 2023$0.09

See all 56 payments⁠

$10,000 in FEM 10 years ago paid $4,301 in dividends.⁠

FEM Risk

Risk pillarB63 out of 100Rank 5 of 19 in Emerging Markets Multifactor
How much the fund’s monthly returns vary, scaled to a year.
13.7%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.06
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−28.5%
Trough Oct 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.81
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

FEM Cost

Compare FEM and QLVE

Overpaying vs QLVE, cheapest in Emerging Markets Multifactor

$11,597

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FEM 0.80%

    $15,346

  • QLVE 0.18% Cheapest

    $3,749

$10,000
30 years

Cost over time

  • FEM 0.80%
  • QLVE 0.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530FEM $15,346QLVE $3,749

Year by year

YearFEMQLVEOverpaying
10$1,422$328$1,094
20$5,393$1,281$4,112
30$15,346$3,749$11,597

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