RFEM
First Trust Riverfront Dynamic Emerging Markets ETF
The First Trust RiverFront Dynamic Emerging Markets ETF is an actively managed fund that seeks capital appreciation from emerging market stocks using a factor approach. The manager has discretion to hedge currency exposure up to 100% of the portfolio.
Emerging Market
EQUITY
Active
MANAGEMENT STYLE
35.5 M
ASSETS UNDER MGMT
95 bp
EXPENSES
Fund Basics
| Fund sponsor | First Trust |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 14, 2016 |
| Assets (mns) | $36 |
| Expense ratio | 95 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
Complete list +
| TAIWAN SEMICONDUCTOR MANUFAC | 10.1 % |
| BAJAJ FINANCE LIMITED | 10.1 % |
| ISHARES MSCI CHINA ETF | 4.5 % |
| TENCENT HOLDINGS LTD | 4.5 % |
| MEDIATEK INC | 2.3 % |
| ALIBABA GROUP HOLDING LTD. | 2.2 % |
| IND & COMM BK OF CHINA - H | 2.1 % |
| ICICI BANK LTD | 1.7 % |
| SPDR S&P CHINA ETF | 1.6 % |
| INTERGLOBE AVIATION LTD | 1.5 % |
Constituent Breakdown
| Number of holdings | 113 |
| Herfindahl-Hirschman Index | 320 |
| Wgt avg mkt cap (mns) | $137,755 |
| Large cap (>$10bn) | 71.1% |
| Mid cap ($2-10bn) | 16.8% |
| Small cap (<$2bn) | 2.3% |
| Developed mkts. | 7.8% |
| Emerging mkts. | 84.7% |
Country Exposure
 |
INDIA | 27.5 % |
 |
TAIWAN | 19.7 % |
 |
CHINA | 12.0 % |
 |
BRAZIL | 4.6 % |
 |
SOUTH KOREA | 4.3 % |
 |
TURKEY | 3.4 % |
 |
THAILAND | 3.0 % |
 |
HONG KONG | 2.7 % |
 |
POLAND | 2.2 % |
 |
SINGAPORE | 1.9 % |
Historical Performance
Standardized Performance (as of 07/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 12.6% | 9.0% | 11.6% | 9.2% | 3.0% | -- | -- | 3.9% |
| Dividend Yield | 0.0% | 0.5% | 2.1% | 4.1% | 3.5% | -- | -- | 3.3% |
| Total Returns | 12.6% | 9.5% | 13.7% | 13.4% | 6.5% | -- | -- | 7.2% | Ann. Volatility | 19.1% | 18.3% | 16.4% | 16.9% | 17.9% | -- | -- | 20.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.81 | 59% |
| MSCI EAFE | 0.81 | 66% |
| MSCI Emg Mkts | 0.85 | 77% |
Liquidity Measures
| Avg. volume (000) | 4 |
| ADV traded (mns) | $0 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.09% |
Technical Indicators
| Recent close | $71.00 |
| 30d moving avg. | $71.69 |
| Annualized volatility | 16.2% |
| Relative strength (RSI) | 55 |
| Short interest | 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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| SCHE | Schwab Emerging Markets Equity ETF | 28.7% | -84 bp | +11.3% |
| EMGF | iShares Emerging Markets Equity Factor ETF | 28.3% | -70 bp | +12.0% |
| FDEM | Fidelity Emerging Markets Multifactor ETF | 27.0% | -70 bp | +13.2% |
| GEM | Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 25.9% | -50 bp | +10.7% |
| EEM | iShares MSCI Emerging Markets ETF | 25.8% | -26 bp | +10.6% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 25.8% | -46 bp | +10.5% |
| AAXJ | iShares MSCI All Country Asia ex Japan ETF | 25.2% | -25 bp | +9.6% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 25.1% | -65 bp | +10.7% |
| JEMA | JPMorgan ActiveBuilders Emerging Markets Equity ETF | 25.1% | -62 bp | +10.4% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 24.8% | -29 bp | +10.1% |
Risk and Returns: 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| 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 | 2024 | 2025 | 2026 | |
| 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 8/3/2025
Peer Group Comparison Sample data. Subscribe for access.
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
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
RFEM
12.0%
Cat. Avg
8.2%
ALTAR Score™ Calculation
Category Overview
There are 117 funds in the Emerging Equity category, with an average ALTAR Score™
of 8.2% and a standard deviation of
2.7%. RFEM's ALTAR Score™ is approximately
1.4 standard deviations
above
the category average. This places RFEM in the 92nd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
RFEMSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active Emerging Market Equity ETFs |
| # of ETFs | 22 |
| Avg. Expense Ratio | 60.3 bp |
| Std. Deviation | 21.7 bp |
| (95 bp) Percentile rank | 96 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| RFEM | 95.0 | 0.0 | 95 |
| Peer Avg. | 53.1 | 24.5 | 77.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .