FEMR vs SPY
Fidelity Enhanced Emerging Markets ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FEMR or SPY?
FEMR has been ahead.
SPY has a lower expense ratio. FEMR led over 1Y and the full window. FEMR is less concentrated, with 35.6% of the fund in its ten largest positions against 38.2%.
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 | FEMR | SPY |
|---|---|---|
| Expense Ratio | 0.38% | 0.09%Best |
| AUM | $189M | $811.2B |
| Dividend Yield | 1.50% | 0.98% |
| Holdings | 154 | 1,515 |
| YTD Return | +23.96%Best | +14.79% |
| 1Y Return | +32.66%Best | +18.62% |
| 3Y Return (annualized) | - | +23.21% |
| 5Y Return (annualized) | - | +13.92% |
| Volatility (annualized) | 18.4% | 12.4%Best |
| Max Drawdown | -15.6%Best | -18.8% |
| $10,000 over 1.9 years | $16,957Best | $13,432 |
| Top 10 Weight | 35.6%Best | 38.2% |
| Fund Family | Fidelity Investments (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 19, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.9 years row, are measured over the window both funds cover: Nov 21, 2024 to Oct 12, 2026 (1.9 years).
FEMR vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.9 years both funds cover.
FEMR vs SPY Performance
Fidelity Enhanced Emerging Markets ETF (FEMR) is an ETF from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FEMR returned +32.66% while SPY returned +18.62%. Year to date, FEMR is up 23.96% versus a gain of 14.79% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FEMR has been the more volatile fund, with annualized monthly volatility of 18.4% compared with 12.4% for SPY. 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 -15.6% for FEMR and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FEMR charges 0.38% per year while SPY charges 0.09%. On a $10,000 position that is $38 vs $9 annually, a gap of $29 per year that compounds over a long holding period. On income, FEMR currently yields 1.50% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 149 holdings in FEMR and 504 in SPY, totalling 96.3% and 99.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 149 positions we hold weights for in FEMR and 504 in SPY, against full books of 154 and 1,515.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for FEMR (99.2% of the fund), and 7 for FEMR that do not appear in SPY (4.4%).
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 FEMR and SPY 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, FEMR or SPY?
FEMR has an expense ratio of 0.38% while SPY charges 0.09%. SPY is the cheaper option, by $29 a year on a $10,000 investment.
Which performed better, FEMR or SPY?
Over the past year FEMR returned +32.66% vs +18.62% for SPY, so FEMR leads on 1-year performance. Over the longest common window we track (2 years), FEMR annualized +32.04% vs +16.80% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FEMR or SPY?
FEMR has been the more volatile fund at 18.4% annualized versus 12.4% for SPY. Worst drawdown: FEMR -15.6% vs SPY -18.8%.
Should I hold both FEMR and SPY?
FEMR and SPY have a monthly-return correlation of 0.70, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FEMR or SPY?
FEMR yields 1.50% while SPY yields 0.98%, so FEMR currently pays the higher dividend yield.
Is SPY better than FEMR?
SPY has a lower expense ratio. FEMR led over 1Y and the full window. FEMR is less concentrated, with 35.6% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.