AFEM vs RFEM
First Trust Active Factor Emerging Markets ETF vs First Trust RiverFront Dynamic Emerging Markets ETF
Which is better, AFEM or RFEM?
Nearly the same fund. AFEM costs less.
AFEM has a lower expense ratio. RFEM led over 1Y. The two have moved almost in lockstep, correlation 1.00. AFEM is less concentrated, with 36.1% of the fund in its ten largest positions against 38.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AFEM | RFEM |
|---|---|---|
| Expense Ratio | 0.95%Best | 0.99% |
| AUM | $82M | $84M |
| Dividend Yield | 2.55% | 2.51% |
| Holdings | 178 | 119 |
| Volatility (annualized) | 17.1%Tie | 17.1%Tie |
| Max Drawdown | -45.6%Tie | -45.6%Tie |
| $10,000 over 10.2 years | $24,312Tie | $24,312Tie |
| Top 10 Weight | 36.1%Best | 38.4% |
| Fund Family | First Trust Portfolios (US) | First Trust Portfolios (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 14, 2016 | Jun 14, 2016 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 33 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. AFEM has data through Oct 14, 2026 and RFEM through Sep 11, 2026.
Volatility and max drawdown, and the $10,000 over 10.2 years row, are measured over the window both funds cover: Jun 15, 2016 to Sep 11, 2026 (10.2 years).
Risk: Volatility and Drawdowns
AFEM and RFEM have been equally volatile, both at 17.1% annualized.
The deepest peak-to-trough decline in our data was -45.6% for AFEM and -45.6% for RFEM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
AFEM charges 0.95% per year while RFEM charges 0.99%. On a $10,000 position that is $95 vs $99 annually, a gap of $4 per year that compounds over a long holding period. On income, AFEM currently yields 2.55% against 2.51% for RFEM.
Holdings Overlap
52.4% of AFEM's money is in holdings RFEM also owns. 81.7% of RFEM's money is in holdings AFEM also owns.
Most of RFEM is already inside AFEM. Owning both mostly buys the same companies twice.
85 positions in common, counted across the 178 positions we hold weights for in AFEM and 111 in RFEM, against full books of 178 and 119.
What only one of them owns
Our book lists 3 positions for RFEM that do not appear in our book for AFEM (1.8% of the fund), and 1 for AFEM that do not appear in RFEM (1.9%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in AFEM | Weight in RFEM | Difference |
|---|---|---|---|
| TSMWF:TWTaiwan Semiconductor Manufacturing Company Limited Ordinary Shares | 13.37% | 10.34% | 3.03% |
| 2454:TWMediatek, Inc. | 1.50% | 6.60% | 5.10% |
| 3037:TWUnimicron Technology Corp | 1.78% | 3.76% | 1.98% |
| 000270:KRKia Corp | 1.68% | 2.56% | 0.88% |
| 0700:KYTencent Holdings Ltd Ordinary Shares | 0.78% | 3.38% | 2.60% |
| ICT:PHInternational Container Terminal Services Inc | 1.41% | 2.52% | 1.11% |
| 1398:HKIndustrial And Commercial Bank Of China Ltd Class H | 1.78% | 2.09% | 0.31% |
| KBANK:THKasikornbank Pcl - Nvdr | 1.52% | 1.91% | 0.39% |
| 0992:HKLenovo Group Ltd Common Stock | 1.65% | 1.69% | 0.04% |
| MCHIIshares Msci China ETF | 0.00% | 3.25% | 3.25% |
81.7% of RFEM is already inside AFEM.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AFEM or RFEM?
AFEM has an expense ratio of 0.95% while RFEM charges 0.99%. AFEM is the cheaper option, by $4 a year on a $10,000 investment.
Which is riskier, AFEM or RFEM?
AFEM and RFEM have been equally volatile, both at 17.1% annualized. Worst drawdown: AFEM -45.6% vs RFEM -45.6%.
Should I hold both AFEM and RFEM?
AFEM and RFEM have a monthly-return correlation of 1.00, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between AFEM and RFEM?
81.7% of RFEM's money is in holdings AFEM also owns. 81.7% of RFEM's is in holdings AFEM also owns. They hold 85 positions in common, counted across the 178 positions we hold weights for in AFEM and 111 in RFEM.
Which pays a higher dividend, AFEM or RFEM?
AFEM yields 2.55% while RFEM yields 2.51%, so AFEM currently pays the higher dividend yield.
Is RFEM better than AFEM?
AFEM has a lower expense ratio. RFEM led over 1Y. The two have moved almost in lockstep, correlation 1.00. AFEM is less concentrated, with 36.1% of the fund in its ten largest positions against 38.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.