FDEM vs ROAM: Grades, Fees and Holdings Compared

Fidelity Emerging Markets Multifactor ETF

FDEMACboe

Hartford Multifactor Emerging Markets ETF

ROAMBNYSE Arca

Overlap

23.5%by weight

Expense ratio

FDEM −0.19pt a year

FDEM0.25%ROAM0.44%

Avg volume · 30D

FDEM 4.9×the volume

FDEM87.5KROAM17.9K

5Y return · a year

ROAM +2.1pt

FDEM+9.3%ROAM+11.4%

FDEM vs ROAM Performance

Oct 29, 2021 – Oct 30, 2026

+55.9%FDEM+71.5%ROAM

Expense ratio: FDEM 0.25%, better; ROAM 0.44%
Fund size: FDEM $591M; ROAM $102M
1Y total return: FDEM +12.2%; ROAM +19.6%, better
Yield (12M): FDEM 3.49%, better; ROAM 2.50%
Holdings: FDEM 229; ROAM 349
Avg volume (30D): FDEM 87.5K sh, better; ROAM 17.9K sh
NAV per share: FDEM $33.73; ROAM $33.97
52W range

ETF.net Grade

Pillar letters and Scores for FDEM, ROAM, with each pillar’s weight
Pillar	FDEM	ROAM
Cost30% weight	A92Higher	C53
Mission25% weight	Not scored	Not scored
Risk15% weight	B56	A78Higher
Tradability15% weight	B65Higher	C43
Holdings10% weight	C42	A88Higher
Durability5% weight	B65Higher	C46

Rank among Emerging Markets Multifactor funds

How we build Categories ›

Same Category. FDEM and ROAM 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 ROAM 8th 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 7BQLVENorthern Trust Emerging Markets Quality Low Volatility ETFScore 61
Rank 8BROAMHartford Multifactor Emerging Markets ETFScore 60
Rank 9BGEMGoldman Sachs ActiveBeta Emerging Markets Equity ETFScore 56

Our read on each fund

ETF.net Research

FDEMAFidelity Emerging Markets Multifactor ETF

ROAMBHartford Multifactor Emerging Markets ETF

In short

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.

ROAM Emerging markets, rebuilt by rulebook: ROAM's index screens roughly 300 stocks for value, quality and momentum, and is built to balance risk against return instead of letting the biggest markets set the agenda.

Stated mandate

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

ROAM The Fund seeks to track the total return of the Hartford Multifactor Emerging Markets Equity Index, a rules-based emerging-markets equity index designed to balance risk and return while emphasizing favorable factor characteristics.

Why people hold it

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

ROAM Three factors, one wrapper. The index leans on value, quality and momentum together rather than riding a single style through EM's mood swings.
A 0.44% expense ratio runs below the median fee for multifactor emerging-markets funds.
Trading since 2015, so the rulebook has been live through real EM cycles, not just backtests.
About 300 holdings spread the bets wide, and the portfolio build stands among the stronger ones in its multifactor EM peer group.

Worth knowing

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%.

ROAM Thinly traded, which usually means wider bid-ask spreads than the giant cap-weighted EM funds carry.
Cheaper factor-flavored EM options exist in the same cohort: EMGF at 0.26% and QEMM at 0.30%.
Cash comes annually or semiannually, not quarterly, and the fund remains small by category standards.

Full FDEM profile⁠

Full ROAM profile⁠

FDEM vs ROAM Holdings

How FDEM and ROAM differ

Overlap by weight

23.5%

Shared holdings make up 48.0% of FDEM and 34.0% of ROAM.

Level by level

Holdings74 in both23.5%
Sector11 Sectors78.1%
Countryby domicile78.6%
Asset classEquity100%

Sector

Sector weights in FDEM and ROAM, widest gap first
Sector	More in FDEMMore in ROAM	FDEM	ROAM
Financials	ROAM +8.1 points	14.4%	22.5%
Consumer Discretionary	FDEM +6.1 points	12.2%	6.1%
Technology	FDEM +5.3 points	39.0%	33.6%
Consumer Staples	ROAM +5.1 points	0.0%	5.1%
Materials	FDEM +3.8 points	8.2%	4.4%
Real Estate	FDEM +3.2 points	5.3%	2.1%
Industrials	ROAM +3.1 points	3.1%	6.2%
Utilities	ROAM +3.1 points	0.0%	3.1%
Communication	ROAM +2.5 points	2.1%	4.6%
Health Care	FDEM +2.1 points	7.5%	5.4%
Energy	FDEM +1.5 points	8.2%	6.7%

Country, concentration and asset class

Country by domicile

Country weights in FDEM and ROAM, widest gap first
Country	More in FDEMMore in ROAM	FDEM	ROAM
Taiwan	FDEM +9.3 points	28.0%	18.7%
India	ROAM +5.7 points	11.5%	17.2%
China	FDEM +4.5 points	20.0%	15.5%
South Korea	FDEM +3.8 points	16.5%	12.7%
Malaysia	ROAM +3.1 points	1.4%	4.5%
Philippines	ROAM +2.9 points	0.0%	2.9%
Poland	ROAM +2.8 points	0.9%	3.7%
South Africa	FDEM +1.7 points	5.9%	4.2%
Other countries (10)	ROAM +4.8 points	15.8%	20.6%

Outside the US: FDEM 1% developed, 99% emerging. ROAM 1% developed, 99% emerging.

Concentration

Weight in the 10 largest Holdings

FDEM34.7%
ROAM10.5%

Securities held

FDEM210
ROAM330

Asset class

FDEM: Equity
ROAM: Equity

Holdings

Only in FDEM136
In both74
Only in ROAM256

Only in FDEM

136 securities, 51.7% of FDEM by weight

Taiwan Semiconductor Mfg Co Lt12.64%
China Resources Mixc Lifestyle1.85%
Emaar Development Pjsc1.67%
Wuxi Apptec Co Ltd H1.36%
Sinopharm Group Co Ltd H1.11%
Sasol Ltd1.10%
Asia Cement Corp0.99%
Richter Gedeon Nyrt0.98%
Gold Fields Ltd0.88%
Inner Mongolia Yitai Coal Class B0.81%
H World Group Ltd0.78%
Exxaro Resources Ltd0.77%
Vedanta Ltd0.76%
Vale S.a.0.70%
Nmdc Ltd0.69%
Eicher Motors Ltd0.69%
China Hongqiao Group Ltd0.66%
Tcl Electronics Holdings Ltd0.63%
Shenzhou Intl Group0.60%
Bosideng Internatl Holding Ltd0.58%
Jumbo SA0.56%
Cmoc Group Limited H0.53%
Pou Chen Corp0.53%
Minth Group Ltd0.53%
Yuanta Finl Hldg Co Ltd0.50%
Db Insurance Co Ltd0.49%
Otp Bank (Reg)0.49%
Asseco Poland SA0.48%
Tongcheng Travel Holdings Ltd0.47%
Multi Cmdty Ex of Ind Ltd0.46%
Copec SA (Cia De Petro Chile)0.46%
Allwyn AG0.44%
Hankook Tire and Technology0.44%
Gcc Sab De Cv0.43%
Chang Hwa Commercial Bank0.41%
Optima Bank SA0.40%
Bnk Financial Group Inc0.38%
Bank of Baroda (Demat)0.36%
Infosys Ltd0.36%
Hdfc Asset Management Co Ltd0.36%
Momentum Group Limited0.35%
Caixa Seguridade Participaco0.34%
Canara Bank0.34%
Far Eastern New Century Corp0.34%
Abu Dhabi Islamic Bank0.34%
Moneta Money Bank0.32%
Samsung E&A Co Ltd0.32%
Asia Vital Components Co Ltd0.30%
Chailease Holding Co Ltd0.30%
Bangkok Bank Public Co Nvdr0.28%

Only in ROAM

256 securities, 65.8% of ROAM by weight

Tech Mahindra Ltd Common Stock INR5.01.08%
Taiwan Semiconductor Sp Adr Adr1.07%
Infosys Ltd Sp Adr Adr1.05%
Saudi Arabian Oil Co Common Stock0.96%
Intl Container Term Svcs Inc Common Stock PHP1.00.95%
Vitrox Corp Bhd Common Stock0.91%
Kt+g Corp Common Stock KRW5000.00.85%
Samsung Fire & Marine Ins Common Stock KRW500.00.85%
Coforge Limited Common Stock INR2.00.82%
Agricultural Bank of China H Common Stock CNY1.00.80%
Fomento Economico Mex Sp Adr Adr0.78%
Persistent Systems Ltd Common Stock INR5.00.77%
Oracle Financial Services Common Stock INR5.00.75%
Delta Electronics Thai Nvdr Nvdr THB.10.74%
Samsung Biologics Co Ltd Common Stock KRW2500.00.70%
Global Unichip Corp Common Stock TWD10.00.68%
Sk Square Co Ltd Common Stock KRW500.00.67%
Enerjisa Enerji As Common Stock0.65%
Kb Financial Group Inc Common Stock KRW5000.00.64%
Orlen SA Common Stock PLN1.250.63%
Elm Co Common Stock SAR10.00.62%
Mphasis Ltd Common Stock INR10.00.62%
Jarir Marketing Co Common Stock SAR1.00.61%
Lpp SA Common Stock PLN2.00.60%
Shinhan Financial Group Ltd Common Stock KRW5000.00.59%
Grupa Kety SA Common Stock PLN2.50.59%
Tenaga Nasional Bhd Common Stock0.59%
Grupo Financiero Banorte O Common Stock MXN3.50.58%
Asustek Computer Inc Common Stock TWD10.00.57%
Lg Electronics Inc Common Stock KRW5000.00.56%
Saudi Telecom Co Common Stock SAR10.00.55%
Hana Financial Group Common Stock KRW5000.00.54%
Bim Birlesik Magazalar As Common Stock TRY1.00.52%
Banco De Chile Common Stock0.52%
Zhen Ding Technology Holding Common Stock TWD10.00.51%
Ltm Ltd Common Stock INR1.00.51%
Wiwynn Corp Common Stock TWD10.00.50%
Tupras Turkiye Petrol Rafine Common Stock TRY1.00.49%
Pko Bank Polski SA Common Stock PLN1.00.48%
Firstrand Ltd Common Stock ZAR.010.47%
Ultrapar Participacoes SA Common Stock0.47%
America Movil Sab De C Ser B Common Stock0.45%
China Merchants Bank H Common Stock CNY1.00.45%
Beone Medicines Ltd Common Stock USD.00010.44%
Chunghwa Telecom Co Ltd Common Stock TWD10.00.42%
Latam Airlines Group SA Adr Adr0.42%
New Oriental Education & Tec Common Stock USD.0010.42%
Kce Electronics Nvdr Nvdr THB.50.41%
Kingdee International Sftwr Common Stock HKD.0250.41%
Weg SA Common Stock0.39%

Weight gaps

All 74 Holdings in both funds, largest gap first.

Holding weights in FDEM and ROAM, widest gap first
Holding	More in FDEMMore in ROAM	FDEM	ROAM
Samsung Electronics Co Ltd	FDEM +5.74 points	6.73%	0.99%
Sk Hynix Inc	FDEM +3.29 points	4.29%	1.00%
Bumrungrad Hospital PLC Nvdr	FDEM +1.21 points	1.46%	0.25%
Fibra Uno Administracion SA	FDEM +1.20 points	1.64%	0.44%
Aspeed Tech Inc	ROAM +0.94 points	0.23%	1.17%
Aurobindo Pharmaceuticals Ltd	FDEM +0.93 points	1.16%	0.23%
Realtek Semiconductor Corp	ROAM +0.93 points	0.16%	1.09%
Tata Consultancy Services Ltd	ROAM +0.83 points	0.26%	1.09%
Petroleo Brasileiro SA - Petro	FDEM +0.82 points	1.59%	0.77%
Hcl Technologies Ltd (Demat)	ROAM +0.76 points	0.18%	0.94%
Mpi Corp	ROAM +0.72 points	0.15%	0.87%
Ptt Exploration & Prod Nvdr	FDEM +0.70 points	0.90%	0.20%
United Tractors Pt	FDEM +0.68 points	0.82%	0.14%
Midea Group Co Ltd H	FDEM +0.67 points	0.73%	0.06%
Chroma Ate Inc	ROAM +0.63 points	0.24%	0.87%
Sun Pharma Ind Ltd(Demat)	FDEM +0.61 points	1.13%	0.52%
Samsung Electro-Mechanics Co	ROAM +0.60 points	0.38%	0.98%
Coal India Ltd	FDEM +0.59 points	0.83%	0.24%
Hero Motocorp Ltd	FDEM +0.54 points	0.66%	0.12%
Maruti Suzuki India Ltd (Loc)	FDEM +0.53 points	0.67%	0.14%
Press Metal Aluminium Holdings	FDEM +0.53 points	0.79%	0.26%
Media Tek Inc	FDEM +0.51 points	1.48%	0.97%
Haier Smart Home Co Ltd	FDEM +0.49 points	0.65%	0.16%
China Shenhua Energy Co H	FDEM +0.45 points	0.95%	0.50%
United Microelectronics Corp	ROAM +0.44 points	0.36%	0.80%
Accton Technology Corp	ROAM +0.43 points	0.25%	0.68%
Lenovo Group Ltd	ROAM +0.43 points	0.24%	0.67%
Grupo Mexico Sab De Cv Ser B	FDEM +0.39 points	0.81%	0.42%
Advanced Info Service Nvdr	ROAM +0.39 points	0.16%	0.55%
Sabic Agri-Nutrients Co	FDEM +0.39 points	0.68%	0.29%
Fuyao Glass Indus Grp Co Ltd H	FDEM +0.39 points	0.63%	0.24%
Ctbc Finl Hldg Co Ltd	FDEM +0.37 points	0.60%	0.23%
Falabella SA	FDEM +0.36 points	0.48%	0.12%
Jentech Precision Indus Co Ltd	ROAM +0.34 points	0.23%	0.57%
Samsung Sdi Co Ltd	ROAM +0.33 points	0.18%	0.51%
Netease Inc	ROAM +0.32 points	0.23%	0.55%
Anta Sports Products Ltd	FDEM +0.31 points	0.72%	0.41%
Astra Intl Tbk Pt (Demat)	ROAM +0.31 points	0.07%	0.38%
Riyad Bank	FDEM +0.25 points	0.39%	0.14%
Xiaomi Corp B	ROAM +0.25 points	0.49%	0.74%
Vibra Energia SA	FDEM +0.23 points	0.41%	0.18%
China Life Ins Co Ltd H	FDEM +0.23 points	0.28%	0.05%
Lite On Technology Corp	ROAM +0.23 points	0.19%	0.42%
Saudi Awwal Bank	FDEM +0.22 points	0.35%	0.13%
Largan Precision Co Ltd	ROAM +0.22 points	0.21%	0.43%
Petrochina Co Ltd H	FDEM +0.21 points	1.12%	0.91%
Bank of China Ltd H	ROAM +0.20 points	0.62%	0.82%
China Construction Bank Corp H	FDEM +0.18 points	0.99%	0.81%
Elite Material Co Ltd	ROAM +0.17 points	0.43%	0.60%
Hon Precision Inc	ROAM +0.15 points	0.16%	0.31%
Bank of Communications H	FDEM +0.15 points	0.36%	0.21%
Zte Corporation H	ROAM +0.15 points	0.10%	0.25%
Banco De Credito E Inversiones	FDEM +0.15 points	0.31%	0.16%
Woori Financial Group Inc	ROAM +0.14 points	0.47%	0.61%
Federal Bank Ltd	FDEM +0.14 points	0.39%	0.25%
Industrial & Com Bk of China H	ROAM +0.13 points	0.72%	0.85%
State Bank of India (Demat) De	FDEM +0.12 points	0.44%	0.32%
Krung Thai Bank (Nvdr)	FDEM +0.11 points	0.29%	0.18%
Grupo Cibest SA Pref	ROAM +0.11 points	0.44%	0.55%
Itausa (Invest Itau) Pfd	FDEM +0.11 points	0.37%	0.26%
Powszechny Zalkad Ubezpiec SA	FDEM +0.10 points	0.37%	0.27%
Rhb Bank Bhd	FDEM +0.10 points	0.26%	0.16%
Kingboard Holdings Ltd	ROAM +0.10 points	0.13%	0.23%
Telkom Indonesia Perse (Demat)	ROAM +0.10 points	0.12%	0.22%
Bb Seguridade Participacoes SA	ROAM +0.06 points	0.34%	0.40%
Grupo Aero Centro Norte Class B	FDEM +0.07 points	0.10%	0.03%
Delta Electronics Ind Co Ltd	FDEM +0.06 points	0.68%	0.62%
Standard Bank Group Ltd	FDEM +0.05 points	0.48%	0.43%
Kia Corp	FDEM +0.03 points	0.57%	0.54%
Picc Property & Casualty Co Lt	FDEM +0.03 points	0.24%	0.21%
Winbond Electronics Corp	ROAM +0.02 points	0.18%	0.20%
Ase Technology Holding Co Ltd	ROAM +0.01 points	0.60%	0.61%
Time Dotcom Bhd	FDEM +0.01 points	0.14%	0.13%
Telekom Malaysia Bhd	Same weight	0.16%	0.16%

All 232 FDEM holdings⁠All 343 ROAM 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.

FDEM vs ROAM Cost

Overpaying ROAM vs FDEM

$3,693

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

FDEM 0.25%
$5,159
ROAM 0.44%
$8,852

Amount$10,000

Years30 years

Cost over time

FDEM 0.25%
ROAM 0.44%
Overpaying

Year by year

Year	FDEM	ROAM	Overpaying
10	$455	$794	$339
20	$1,769	$3,061	$1,292
30	$5,159	$8,852	$3,693

Expense ratio

0.25%FDEM, cheaper
0.44%ROAM

FDEM0.25%ROAM0.44%

0.18%0.80%

Middle half of Emerging Markets Multifactor funds
Median 0.44%

FDEM 2nd cheapest of 20 funds

ROAM 10th cheapest of 20 funds

FDEM vs ROAM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FDEM 3.49%, better; ROAM 2.50%
Payout (12M): FDEM $1.17; ROAM $0.84
Last payment: FDEM $0.38; ROAM $0.33
Ex-dividend: FDEM Sep 18, 2026; ROAM Jun 25, 2026
Paid on: FDEM Sep 22, 2026; ROAM Jun 29, 2026
Frequency: FDEM Quarterly; ROAM Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

FDEMQuarterly · 32 paymentsAll FDEM payments⁠

ROAMTwice a year · 19 paymentsAll ROAM payments⁠

FDEM vs ROAM Risk

Fall from peak · 5 years

FDEM
ROAM

Risk facts

VolatilityStd dev, 3 years: FDEM 13.8%, betterROAM 14.6%
Return per unit of riskSharpe ratio, 3 years: FDEM 1.08ROAM 1.21, better
Worst fallMax drawdown, 5 years: FDEM −24.2%, betterROAM −26.1%
Market sensitivityBeta, 5 years: FDEM 0.98ROAM 1.01; Market = 1

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