EEM vs RFEM
iShares MSCI Emerging Markets ETF vs First Trust RiverFront Dynamic Emerging Markets ETF
Which is better, EEM or RFEM?
RFEM has been ahead.
EEM has a lower expense ratio. RFEM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.94. RFEM is less concentrated, with 38.4% of the fund in its ten largest positions against 39.4%.
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 | EEM | RFEM |
|---|---|---|
| Expense Ratio | 0.72%Best | 0.99% |
| AUM | $30.4B | $84M |
| Dividend Yield | 1.67% | 2.51% |
| Holdings | 1,224 | 119 |
| Volatility (annualized) | 17.0%Best | 17.1% |
| Max Drawdown | -68.8% | -45.6%Best |
| $10,000 over 10.2 years | $22,939 | $24,312Best |
| Top 10 Weight | 39.4% | 38.4%Best |
| Fund Family | iShares by BlackRock (US) | First Trust Portfolios (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 7, 2003 | 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. EEM 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
RFEM has been the more volatile fund, with annualized monthly volatility of 17.1% compared with 17.0% for EEM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -68.8% for EEM 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
EEM charges 0.72% per year while RFEM charges 0.99%. On a $10,000 position that is $72 vs $99 annually, a gap of $27 per year that compounds over a long holding period. On income, EEM currently yields 1.67% against 2.51% for RFEM.
Holdings Overlap
9.5% of EEM's money is in holdings RFEM also owns. 46.1% of RFEM's money is in holdings EEM also owns.
The two portfolios partly overlap.
The two holdings books were reported 57 days apart, EEM as of Oct 1, 2026 and RFEM as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.
41 positions in common, counted across the 1,162 positions we hold weights for in EEM and 111 in RFEM, against full books of 1,224 and 119.
What only one of them owns
Our book lists 8 positions for RFEM that do not appear in our book for EEM (6.8% of the fund), and 12 for EEM that do not appear in RFEM (0.9%).
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 EEM | Weight in RFEM | Difference |
|---|---|---|---|
| 2454:TWMediatek, Inc. | 1.82% | 6.60% | 4.78% |
| 3037:TWUnimicron Technology Corp | 0.42% | 3.76% | 3.34% |
| 9988:HKAlibaba Group Holding Limited Ordinary Shares | 1.84% | 2.01% | 0.17% |
| 000270:KRKia Corp | 0.16% | 2.56% | 2.40% |
| ICT:PHInternational Container Terminal Services Inc | 0.11% | 2.52% | 2.41% |
| 1398:HKIndustrial And Commercial Bank Of China Ltd Class H | 0.52% | 2.09% | 1.57% |
| HDFCBANK:MBHdfc Bank Limited Common Stock Inr1.0 | 0.69% | 1.84% | 1.15% |
| 3443:TWGlobal Unichip Corp | 0.18% | 1.78% | 1.60% |
| 3653:TWJentech Precision Industrial Co Ltd | 0.15% | 1.74% | 1.59% |
| PKN:PLPolski Koncern Naftowy Orlen S.A. | 0.18% | 1.35% | 1.17% |
46.1% of RFEM is already inside EEM.
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, EEM or RFEM?
EEM has an expense ratio of 0.72% while RFEM charges 0.99%. EEM is the cheaper option, by $27 a year on a $10,000 investment.
Which is riskier, EEM or RFEM?
RFEM has been the more volatile fund at 17.1% annualized versus 17.0% for EEM. Worst drawdown: EEM -68.8% vs RFEM -45.6%.
Should I hold both EEM and RFEM?
EEM and RFEM have a monthly-return correlation of 0.94, 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 EEM and RFEM?
46.1% of RFEM's money is in holdings EEM also owns. 46.1% of RFEM's is in holdings EEM also owns. They hold 41 positions in common, counted across the 1,162 positions we hold weights for in EEM and 111 in RFEM.
Which pays a higher dividend, EEM or RFEM?
EEM yields 1.67% while RFEM yields 2.51%, so RFEM currently pays the higher dividend yield.
Is RFEM better than EEM?
EEM has a lower expense ratio. RFEM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.94. RFEM is less concentrated, with 38.4% of the fund in its ten largest positions against 39.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.