NSI vs RFEM
National Security Emerging Markets Index ETF vs First Trust RiverFront Dynamic Emerging Markets ETF
Which is better, NSI or RFEM?
RFEM has been ahead.
NSI has a lower expense ratio. RFEM led over 1Y and the full window. RFEM is less concentrated, with 38.4% of the fund in its ten largest positions against 50.4%.
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 | NSI | RFEM |
|---|---|---|
| Expense Ratio | 0.75%Best | 0.99% |
| AUM | $43M | $84M |
| Dividend Yield | 1.21% | 2.51% |
| Holdings | 204 | 119 |
| Volatility (annualized) | 12.8% | 12.6%Best |
| Max Drawdown | -16.6% | -15.8%Best |
| $10,000 over 2.8 years | $16,888 | $19,087Best |
| Top 10 Weight | 50.4% | 38.4%Best |
| Fund Family | National Security Index | First Trust Portfolios (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 6, 2023 | 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. NSI has data through Oct 14, 2026 and RFEM through Sep 11, 2026.
Volatility and max drawdown, and the $10,000 over 2.8 years row, are measured over the window both funds cover: Dec 7, 2023 to Sep 11, 2026 (2.8 years).
Risk: Volatility and Drawdowns
NSI has been the more volatile fund, with annualized monthly volatility of 12.8% compared with 12.6% for RFEM. 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 -16.6% for NSI and -15.8% 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NSI charges 0.75% per year while RFEM charges 0.99%. On a $10,000 position that is $75 vs $99 annually, a gap of $24 per year that compounds over a long holding period. On income, NSI currently yields 1.21% against 2.51% for RFEM.
Holdings Overlap
1.5% of NSI's money is in holdings RFEM also owns. 1.2% of RFEM's money is in holdings NSI also owns.
NSI and RFEM share little of their money.
The two holdings books were reported 58 days apart, NSI as of Oct 2, 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.
2 positions in common, counted across the 99 positions we hold weights for in NSI and 111 in RFEM, against full books of 204 and 119.
What only one of them owns
Our book lists 7 positions for RFEM that do not appear in our book for NSI (5.6% of the fund), and 34 for NSI that do not appear in RFEM (24.0%).
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.
You are not choosing between two funds in isolation.
Whichever of NSI and RFEM you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NSI or RFEM?
NSI has an expense ratio of 0.75% while RFEM charges 0.99%. NSI is the cheaper option, by $24 a year on a $10,000 investment.
Which is riskier, NSI or RFEM?
NSI has been the more volatile fund at 12.8% annualized versus 12.6% for RFEM. Worst drawdown: NSI -16.6% vs RFEM -15.8%.
Should I hold both NSI and RFEM?
NSI and RFEM have a monthly-return correlation of 0.85, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between NSI and RFEM?
1.5% of NSI's money is in holdings RFEM also owns. 1.2% of RFEM's is in holdings NSI also owns. They hold 2 positions in common, counted across the 99 positions we hold weights for in NSI and 111 in RFEM.
Which pays a higher dividend, NSI or RFEM?
NSI yields 1.21% while RFEM yields 2.51%, so RFEM currently pays the higher dividend yield.
Is RFEM better than NSI?
NSI has a lower expense ratio. RFEM led over 1Y and the full window. RFEM is less concentrated, with 38.4% of the fund in its ten largest positions against 50.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.