EMMF vs FDEM: Grades, Fees and Holdings Compared

WisdomTree Emerging Markets Multifactor Fund

EMMFDNYSE Arca

Fidelity Emerging Markets Multifactor ETF

FDEMACboe

Overlap

34.3%by weight

Expense ratio

FDEM −0.23pt a year

EMMF0.48%FDEM0.25%

Avg volume · 30D

FDEM 6.4×the volume

EMMF13.6KFDEM87.5K

5Y return · a year

FDEM +0.7pt

EMMF+8.6%FDEM+9.3%

EMMF vs FDEM Performance

Oct 29, 2021 – Oct 30, 2026

+51.1%EMMF+55.9%FDEM

Expense ratio: EMMF 0.48%; FDEM 0.25%, better
Fund size: EMMF $180M; FDEM $591M
1Y total return: EMMF +11.4%; FDEM +12.2%, better
Yield (12M): EMMF 1.45%; FDEM 3.49%, better
Holdings: EMMF 225; FDEM 229
Avg volume (30D): EMMF 13.6K sh; FDEM 87.5K sh, better
NAV per share: EMMF $34.68; FDEM $33.73
52W range

ETF.net Grade

Pillar letters and Scores for EMMF, FDEM, with each pillar’s weight
Pillar	EMMF	FDEM
Cost30% weight	D37	A92Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	C48	B56Higher
Tradability15% weight	F20	B65Higher
Holdings10% weight	C53Higher	C42
Durability5% weight	C41	B65Higher

Rank among Emerging Markets Multifactor funds

How we build Categories ›

Same Category. EMMF and FDEM are both graded against the same 20 Emerging Markets Multifactor funds, so their Grades compare head to head.

Emerging Markets Multifactor⁠

Category · 20 funds

See all 20 ›

FDEM ranks 3rd and EMMF 15th of 20 funds in the Emerging Markets Multifactor Category.

Rank 1AEMGFiShares Emerging Markets Equity Factor ETFScore 76
Rank 2AAVESAvantis Emerging Markets Value ETFScore 71
Rank 3AFDEMFidelity Emerging Markets Multifactor ETFScore 70
Rank 4BQEMMState Street SPDR MSCI Emerging Markets StrategicFactors ETFScore 64
Rank 14CMFEMPIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETFScore 41
Rank 15DEMMFWisdomTree Emerging Markets Multifactor FundScore 38
Rank 16DECONColumbia Research Enhanced Emerging Economies ETFScore 36

Our read on each fund

ETF.net Research

EMMFDWisdomTree Emerging Markets Multifactor Fund

FDEMAFidelity Emerging Markets Multifactor ETF

In short

EMMF EMMF scores emerging-markets stocks on value, quality and momentum together, then holds the winners in one roughly 240-name portfolio. A single-ticket factor blend from WisdomTree, live since 2018, priced at the middle of its peer group.

FDEM Value, quality, momentum and low-volatility screens run across emerging markets stocks, plus an unusual extra filter: a tilt toward names less correlated with US equities. Fidelity's in-house index, priced under the category median.

Stated mandate

EMMF The fund seeks capital appreciation through primarily investing in emerging-markets equity securities selected using composite multifactor scores.

FDEM The fund seeks to track, before fees and expenses, the Fidelity Emerging Markets Multifactor Index.

Why people hold it

EMMF Three factors in one wrapper: value, quality and momentum scored into a single composite, instead of bolting separate EM sleeves together.wisdomtree.com
The 0.48% expense ratio lands exactly at the median for emerging-markets multifactor funds. No premium for the factor machinery.
Spreads across roughly 240 emerging-markets names and pays quarterly, so no single country or company story dominates the sleeve.
Trading since 2018, which means a real-money record through several full emerging-markets cycles rather than a backtest.

FDEM Four factor screens (value, quality, momentum, lower volatility) and then a twist most multifactor rivals skip: the index also leans toward stocks with lower correlation to the US market.sec.gov
At 0.25% a year, it undercuts the typical fund in the international multifactor group, where the median sits at 0.38%.
Rules over hunches: normally at least 80% of assets sit in index securities, so the screens drive the portfolio. Live since 2019, with distributions paid quarterly.sec.gov

Worth knowing

EMMF Thinly traded and small next to the giants of the category, so bid-ask spreads and trade timing carry more weight here.
Cheaper factor rivals sit on the same shelf: EMGF at 0.26% and AVES at 0.36% run the same EM factor idea for less.
Our review puts it in the lower half of its emerging-markets multifactor group, mostly on cost-versus-peers, tradability and portfolio construction.

FDEM Selective by design: a couple hundred large- and mid-cap names, not the full emerging markets universe, so results diverge from plain market-cap EM index funds.sec.gov
Emerging markets carry currency, political and regulatory risk. A low-volatility screen aims to soften the ride relative to the broad EM market, not to remove the risk.sec.gov
Volume is moderate rather than heavy for the category, so spreads deserve a look on larger orders. The developed-market sibling FDEV runs cheaper at 0.18%.

Full EMMF profile⁠

Full FDEM profile⁠

EMMF vs FDEM Holdings

How EMMF and FDEM differ

Overlap by weight

34.3%

Shared holdings make up 50.0% of FDEM and 42.1% of EMMF.

Level by level

Holdings54 in both34.3%
Sector11 Sectors84.2%
Countryby domicile84.8%
Asset classEquity100%

Sector

Sector weights in EMMF and FDEM, widest gap first
Sector	More in EMMFMore in FDEM	EMMF	FDEM
Industrials	EMMF +4.4 points	7.5%	3.1%
Communication	EMMF +4.3 points	6.4%	2.1%
Energy	FDEM +4.1 points	4.1%	8.2%
Real Estate	FDEM +4.0 points	1.3%	5.3%
Consumer Staples	EMMF +3.9 points	3.9%	0.0%
Health Care	FDEM +3.4 points	4.1%	7.5%
Technology	FDEM +2.9 points	36.1%	39.0%
Utilities	EMMF +2.1 points	2.1%	0.0%
Materials	FDEM +1.5 points	6.7%	8.2%
Consumer Discretionary	EMMF +0.5 points	12.7%	12.2%
Financials	EMMF +0.5 points	14.9%	14.4%

Country, concentration and asset class

Country by domicile

Country weights in EMMF and FDEM, widest gap first
Country	More in EMMFMore in FDEM	EMMF	FDEM
China	FDEM +6.0 points	14.0%	20.0%
India	EMMF +5.2 points	16.7%	11.5%
Brazil	EMMF +3.6 points	7.7%	4.1%
Taiwan	FDEM +2.3 points	25.7%	28.0%
Poland	EMMF +2.1 points	3.0%	0.9%
South Korea	EMMF +2.0 points	18.5%	16.5%
Thailand	FDEM +1.8 points	1.5%	3.3%
United States	EMMF +1.7 points	1.7%	0.0%
Other countries (10)	FDEM +4.6 points	11.2%	15.8%

Outside the US: EMMF 0% developed, 100% emerging. FDEM 1% developed, 99% emerging.

Concentration

Weight in the 10 largest Holdings

EMMF29.4%
FDEM34.7%

Securities held

EMMF206
FDEM210

Asset class

EMMF: Equity
FDEM: Equity

Holdings

Only in EMMF152
In both54
Only in FDEM156

Only in EMMF

152 securities, 57.5% of EMMF by weight

Tencent Holdings Ltd3.02%
Alibaba Group Holding Ltd2.28%
MercadoLibre Inc1.51%
Coupang Inc1.07%
Hyundai Motor Co0.95%
JSW Steel Ltd0.71%
Wiwynn Corp0.68%
Nedbank Group Ltd0.67%
Orlen SA0.65%
Ping An Insurance Group Co of China0.65%
Indian Hotels Co Ltd0.64%
Tupras Turkiye Petrol Rafine0.64%
Outsurance Group Ltd0.58%
Bid Corp Ltd0.58%
AMMB Holdings Bhd0.57%
Bosch Ltd0.56%
PKO Bank Polski SA0.56%
Bidvest Group Ltd0.54%
Global Unichip Corp0.52%
YTL Power International Bhd0.52%
Fsn E-Commerce Ventures Ltd0.51%
Yageo Corp0.51%
TMB Bank PCL - NVDR0.50%
National Aluminium Co Ltd0.49%
Shoprite Holdings Ltd0.49%
Multi Commodity Exch India0.49%
Bharat Petroleum Corp Ltd0.49%
Oberoi Realty Ltd0.49%
Fomento Economico Mexicano SAB0.48%
Bank Pekao SA0.48%
China Mengniu Dairy Co Ltd0.48%
Cadila Healthcare Ltd0.48%
Vodacom Group Pty Ltd0.47%
Laurus Labs Ltd0.47%
Nanya Technology Corp0.47%
Metropolitan Bank & Trust0.46%
Huaneng Power Intl Inc0.46%
Unimicron Technology Corp0.46%
APL Apollo Tubes Ltd0.45%
Motherson Sumi Systems Ltd0.45%
Evergreen Marine Corp Taiwan Ltd0.45%
Pge SA0.44%
Marico Ltd0.44%
Bharti Infratel Ltd0.44%
Shinhan Financial Group Ltd0.44%
Siemens Energy India Ltd0.44%
Crompton Greaves Ltd0.43%
Union Bank Of India0.43%
Samsung Fire & Marine Insuranc0.42%
Lpp SA0.42%

Only in FDEM

156 securities, 49.3% of FDEM by weight

China Resources Mixc Lifestyle1.85%
Emaar Development Pjsc1.67%
Petrochina Co Ltd H1.12%
Sinopharm Group Co Ltd H1.11%
Sasol Ltd1.10%
Asia Cement Corp0.99%
Richter Gedeon Nyrt0.98%
China Shenhua Energy Co H0.95%
Ptt Exploration & Prod Nvdr0.90%
Gold Fields Ltd0.88%
United Tractors Pt0.82%
Inner Mongolia Yitai Coal Class B0.81%
H World Group Ltd0.78%
Exxaro Resources Ltd0.77%
Vedanta Ltd0.76%
Midea Group Co Ltd H0.73%
Anta Sports Products Ltd0.72%
Vale S.a.0.70%
Nmdc Ltd0.69%
Sabic Agri-Nutrients Co0.68%
Maruti Suzuki India Ltd (Loc)0.67%
Hero Motocorp Ltd0.66%
China Hongqiao Group Ltd0.66%
Haier Smart Home Co Ltd0.65%
Fuyao Glass Indus Grp Co Ltd H0.63%
Tcl Electronics Holdings Ltd0.63%
Shenzhou Intl Group0.60%
Ctbc Finl Hldg Co Ltd0.60%
Kia Corp0.57%
Jumbo SA0.56%
Cmoc Group Limited H0.53%
Pou Chen Corp0.53%
Minth Group Ltd0.53%
Xiaomi Corp B0.49%
Otp Bank (Reg)0.49%
Standard Bank Group Ltd0.48%
Asseco Poland SA0.48%
Falabella SA0.48%
Tongcheng Travel Holdings Ltd0.47%
Woori Financial Group Inc0.47%
Multi Cmdty Ex of Ind Ltd0.46%
Copec SA (Cia De Petro Chile)0.46%
Allwyn AG0.44%
State Bank of India (Demat) De0.44%
Grupo Cibest SA Pref0.44%
Gcc Sab De Cv0.43%
Optima Bank SA0.40%
Riyad Bank0.39%
Bnk Financial Group Inc0.38%
Powszechny Zalkad Ubezpiec SA0.37%

Weight gaps

All 54 Holdings in both funds, largest gap first.

Holding weights in EMMF and FDEM, widest gap first
Holding	More in EMMFMore in FDEM	EMMF	FDEM
Taiwan Semiconductor Manufacturing Co Ltd	FDEM +4.25 points	8.39%	12.64%
Samsung Electronics Co Ltd	FDEM +2.02 points	4.71%	6.73%
Fibra Uno Administracion SA de	FDEM +1.50 points	0.14%	1.64%
SK Hynix Inc	EMMF +1.00 points	5.29%	4.29%
King Slide Works Co Ltd	EMMF +0.97 points	1.15%	0.18%
Bumrungrad Hospital PCL - NVDR	FDEM +0.92 points	0.54%	1.46%
Sun Pharmaceutical Industries	FDEM +0.88 points	0.25%	1.13%
Petroleo Brasileiro SA	FDEM +0.78 points	0.81%	1.59%
Aurobindo Pharma Ltd	FDEM +0.77 points	0.39%	1.16%
Press Metal Aluminium Holdings	FDEM +0.76 points	0.03%	0.79%
Wuxi Apptec Co Ltd-H	FDEM +0.76 points	0.60%	1.36%
Advantech Co Ltd	EMMF +0.66 points	0.81%	0.15%
Asia Vital Components Co Ltd	EMMF +0.60 points	0.90%	0.30%
Coal India Ltd	FDEM +0.58 points	0.25%	0.83%
China Construction Bank-H	FDEM +0.50 points	0.49%	0.99%
MediaTek Inc	FDEM +0.48 points	1.00%	1.48%
ASE Technology Holding Co Ltd	EMMF +0.41 points	1.01%	0.60%
Elite Material Co Ltd	EMMF +0.37 points	0.80%	0.43%
Chroma ATE Inc	EMMF +0.33 points	0.57%	0.24%
Accton Technology Corp	EMMF +0.30 points	0.55%	0.25%
Winbond Electronics Corp	EMMF +0.30 points	0.48%	0.18%
Hon Precision Inc	EMMF +0.26 points	0.42%	0.16%
Netease Inc	EMMF +0.26 points	0.49%	0.23%
RHB Bank Bhd	FDEM +0.25 points	<0.01%	0.26%
Gold Circuit Electronics Ltd	EMMF +0.26 points	0.42%	0.16%
Realtek Semiconductor Corp	EMMF +0.25 points	0.41%	0.16%
Novatek Microelectronics Corp	EMMF +0.25 points	0.40%	0.15%
Tim Sa	EMMF +0.23 points	0.36%	0.13%
LG Innotek Co Ltd	EMMF +0.24 points	0.26%	0.02%
China Life Insurance Co Ltd	EMMF +0.22 points	0.50%	0.28%
Bosideng International Holding	FDEM +0.22 points	0.36%	0.58%
Hankook Tire & Tech Co Ltd	FDEM +0.20 points	0.24%	0.44%
PICC Property & Casualty Co Lt	EMMF +0.15 points	0.39%	0.24%
Eicher Motors Ltd	FDEM +0.16 points	0.53%	0.69%
Yuanta Financial Holding Co Ltd	FDEM +0.16 points	0.34%	0.50%
Samsung Electro-Mechanics Co L	EMMF +0.15 points	0.53%	0.38%
Vibra Energia Sa	FDEM +0.11 points	0.30%	0.41%
CITIC Ltd	EMMF +0.11 points	0.38%	0.27%
United Microelectronics Corp	EMMF +0.11 points	0.47%	0.36%
Bank of China Ltd	EMMF +0.09 points	0.71%	0.62%
DB Insurance Co Ltd	FDEM +0.08 points	0.41%	0.49%
Federal Bank Ltd	FDEM +0.08 points	0.31%	0.39%
Grupo Mexico SAB de CV	FDEM +0.07 points	0.74%	0.81%
Industrial & Commercial Bank of China-H	EMMF +0.07 points	0.79%	0.72%
Hindustan Aeronautics Ltd	FDEM +0.06 points	0.11%	0.17%
Hyundai Glovis Co Ltd	EMMF +0.06 points	0.29%	0.23%
Caixa Seguridade Participaco	EMMF +0.04 points	0.38%	0.34%
BB Seguridade Participacoes SA	EMMF +0.03 points	0.37%	0.34%
Delta Electronics Inc	EMMF +0.03 points	0.71%	0.68%
Itausa - Investimentos Itau SA	FDEM +0.03 points	0.34%	0.37%
Chang HWA Commercial Bank Ltd	EMMF +0.01 points	0.42%	0.41%
New China Life Insurance Co Ltd	EMMF +0.01 points	0.17%	0.16%
Bank of Baroda Ltd	EMMF +0.01 points	0.37%	0.36%
Czech Koruna	Same weight	<0.01%	<0.01%

All 238 EMMF holdings⁠All 232 FDEM holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EMMF vs FDEM Cost

Overpaying EMMF vs FDEM

$4,446

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

EMMF 0.48%
$9,605
FDEM 0.25%
$5,159

Amount$10,000

Years30 years

Cost over time

EMMF 0.48%
FDEM 0.25%
Overpaying

Year by year

Year	EMMF	FDEM	Overpaying
10	$865	$455	$410
20	$3,328	$1,769	$1,559
30	$9,605	$5,159	$4,446

Expense ratio

0.48%EMMF
0.25%FDEM, cheaper

FDEM0.25%EMMF0.48%

0.18%0.80%

Middle half of Emerging Markets Multifactor funds
Median 0.44%

FDEM 2nd cheapest of 20 funds

EMMF 13th cheapest of 20 funds

EMMF vs FDEM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EMMF 1.45%; FDEM 3.49%, better
Payout (12M): EMMF $0.50; FDEM $1.17
Last payment: EMMF $0.15; FDEM $0.38
Ex-dividend: EMMF Sep 25, 2026; FDEM Sep 18, 2026
Paid on: EMMF Sep 29, 2026; FDEM Sep 22, 2026
Frequency: EMMF Quarterly; FDEM Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

EMMFQuarterly · 32 paymentsAll EMMF payments⁠

FDEMQuarterly · 32 paymentsAll FDEM payments⁠

EMMF vs FDEM Risk

Fall from peak · 5 years

EMMF
FDEM

Risk facts

VolatilityStd dev, 3 years: EMMF 14.7%FDEM 13.8%, better
Return per unit of riskSharpe ratio, 3 years: EMMF 0.87FDEM 1.08, better
Worst fallMax drawdown, 5 years: EMMF −22.9%, betterFDEM −24.2%
Market sensitivityBeta, 5 years: EMMF 0.89FDEM 0.98; Market = 1

Popular comparisons

EMMFDvsEMGFA
WisdomTree Emerging Markets Multifactor Fund · iShares Emerging Markets Equity Factor ETF
Expense ratio
0.48% · 0.26%
Category
FDEMAvsEMGFA
Fidelity Emerging Markets Multifactor ETF · iShares Emerging Markets Equity Factor ETF
Expense ratio
0.25% · 0.26%
Category
EMMFDvsAVESA
WisdomTree Emerging Markets Multifactor Fund · Avantis Emerging Markets Value ETF
Expense ratio
0.48% · 0.36%
Category
FDEMAvsAVESA
Fidelity Emerging Markets Multifactor ETF · Avantis Emerging Markets Value ETF
Expense ratio
0.25% · 0.36%
Category
EMMFDvsQEMMB
WisdomTree Emerging Markets Multifactor Fund · State Street SPDR MSCI Emerging Markets StrategicFactors ETF
Expense ratio
0.48% · 0.30%
Category
FDEMAvsQEMMB
Fidelity Emerging Markets Multifactor ETF · State Street SPDR MSCI Emerging Markets StrategicFactors ETF
Expense ratio
0.25% · 0.30%
Category