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
$ 475.5 M
ASSETS UNDER MGMT
25 bp
EXPENSES
Fund Basics
| Inception date | Feb 26, 2019 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Quarterly |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TAIWAN SEMICONDUCTOR MANUFAC | 9.9 % |
| TENCENT HOLDINGS LTD | 4.8 % |
| SAMSUNG ELECTRONICS CO LTD | 3.7 % |
| ALIBABA GROUP HOLDING LTD. | 3.3 % |
| CHINA RESOURCES MIXC LIFESTYLE SERVICES | 2.3 % |
| HYNIX SEMICONDUCTOR INC | 2.0 % |
| EMAAR DEVELOPMENT PJSC | 1.8 % |
| FIBRA UNO ADMINISTRACION SA | 1.7 % |
| HDFC BANK LIMITED | 1.1 % |
| PETROCHINA CO LTD-H | 1.1 % |
Constituent Breakdown
| Number of holdings | 257 |
| Herfindahl-Hirschman Index | 200 |
| Wgt avg mkt cap (mns) | $215,350 |
| Large cap (>$10bn) | 67.2% |
| Mid cap ($2-10bn) | 26.9% |
| Small cap (<$2bn) | 1.5% |
| Developed mkts. | 3.7% |
| Emerging mkts. | 93.1% |
Sector Breakdown
Country Exposure
 |
CHINA | 28.5 % |
 |
TAIWAN | 18.3 % |
 |
SOUTH KOREA | 11.7 % |
 |
INDIA | 11.2 % |
 |
BRAZIL | 2.9 % |
 |
UAE | 2.6 % |
 |
HUNGARY | 2.6 % |
 |
CHILE | 2.2 % |
 |
MEXICO | 2.1 % |
 |
INDONESIA | 2.1 % |
Historical Performance
Standardized Performance (as of 02/28/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 12.7% | 38.4% | 19.6% | 17.3% | 4.9% | -- | -- | 4.9% |
| Dividend Yield | 0.0% | 3.9% | 4.1% | 4.5% | 3.8% | -- | -- | 3.4% |
| Total Returns | 12.7% | 42.3% | 23.7% | 21.9% | 8.7% | -- | -- | 8.4% | Ann. Volatility | 14.5% | 16.3% | 15.1% | 14.4% | 15.4% | -- | -- | 17.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.58 | 47% |
| MSCI EAFE | 0.77 | 59% |
| MSCI Emg Mkts | 0.86 | 89% |
Liquidity Measures
| Avg. volume (000) | 146 |
| ADV traded (mns) | $5 |
| Turnover | 1.0% |
| Avg. Bid/Ask (% of price) | 0.59% |
Technical Indicators
| 30d moving avg. (EMA) | $33.85 |
| Relative strength (RSI) | 64 |
| MACD/Signal | 0.59/0.61 |
| Bollinger Bands (Upper/Lower) | $35.44/$33.00 |
| Short interest (% of AUM) | 0.2% |
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 |
|---|---|---|---|---|
| GEM | Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 42.4% | +20 bp | -2.8% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 41.2% | -10 bp | -2.7% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 41.1% | +41 bp | -3.5% |
| FLAX | Franklin FTSE Asia Ex Japan ETF | 40.5% | -6 bp | -3.6% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 40.2% | -14 bp | -3.0% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 39.7% | +11 bp | -3.1% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 39.3% | +24 bp | -2.9% |
| EMCR | Xtrackers Emerging Markets Carbon Reduction and Climate Impr | 39.0% | -10 bp | -2.4% |
| EMGF | iShares Emerging Markets Equity Factor ETF | 38.8% | 0 bp | -1.5% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 38.1% | +5 bp | -2.5% |
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 (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| 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 3/9/2026
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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
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
12.5%
ALTAR SCORE™
97th
PERCENTILE
SPECULATIVE
ETFRC RATING
There are 196 funds in the Emerging Equity category with an average
ALTAR Score™ of 8.1% and a standard deviation
of 2.4%. FDEM's ALTAR Score™ is approximately 1.9 standard
deviations above the category average. This places FDEM in the 97th percentile
among funds in the category.
Sell-Side Consensus
$40.33
PRICE TARGET
+25.5%
UPSIDE