FEMS vs IVV
First Trust Emerging Markets Small Cap AlphaDEX Fund vs iShares Core S&P 500 ETF
Which is better, FEMS or IVV?
Small Cap Value against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. FEMS is less concentrated, with 13.7% of the fund in its ten largest positions against 37.9%.
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 | FEMS | IVV |
|---|---|---|
| Expense Ratio | 0.80% | 0.03%Best |
| AUM | $238M | $876.4B |
| Dividend Yield | 4.09% | 1.06% |
| Holdings | 218 | 508 |
| YTD Return | +11.20% | +11.57%Best |
| 1Y Return | +10.29% | +17.57%Best |
| 3Y Return (annualized) | +10.50% | +20.71%Best |
| 5Y Return (annualized) | +5.47% | +12.80%Best |
| Volatility (annualized) | 19.2% | 14.1%Best |
| Max Drawdown | -52.3% | -33.9%Best |
| $10,000 over 5 years | $13,051 | $18,262Best |
| Top 10 Weight | 13.7%Best | 37.9% |
| Fund Family | First Trust Portfolios (US) | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Small Cap Value | Large Cap Blend |
| Inception | Feb 15, 2012 | May 15, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Feb 17, 2012 to Sep 10, 2026 (14.6 years).
FEMS vs IVV 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 14.6 years both funds cover.
FEMS vs IVV Performance
First Trust Emerging Markets Small Cap AlphaDEX Fund (FEMS) is an ETF from First Trust Portfolios (US) and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year FEMS returned +10.29% while IVV returned +17.57%. Year to date, FEMS is up 11.20% versus a gain of 11.57% for IVV.
Over three years, FEMS compounded at +10.50% per year against +20.71% for IVV; over five years the annualized figures are +5.47% and +12.80% respectively. Across the full 15-year window we track, IVV has the edge at +13.10% annualized vs +4.72%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FEMS has been the more volatile fund, with annualized monthly volatility of 19.2% compared with 14.1% for IVV. 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 -52.3% for FEMS and -33.9% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.62. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FEMS charges 0.80% per year while IVV charges 0.03%. On a $10,000 position that is $80 vs $3 annually, a gap of $77 per year that compounds over a long holding period. On income, FEMS currently yields 4.09% against 1.06% for IVV.
Holdings Overlap
We hold position weights for 203 holdings in FEMS and 505 in IVV, totalling 97.4% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 127 days apart, FEMS as of Mar 31, 2026 and IVV as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 203 positions we hold weights for in FEMS and 505 in IVV, against full books of 218 and 508.
What only one of them owns
Our book lists 495 positions for IVV that do not appear in our book for FEMS (99.3% of the fund), and 6 for FEMS that do not appear in IVV (3.6%).
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 FEMS and IVV 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, FEMS or IVV?
FEMS has an expense ratio of 0.80% while IVV charges 0.03%. IVV is the cheaper option, by $77 a year on a $10,000 investment.
Which performed better, FEMS or IVV?
Over the past year FEMS returned +10.29% vs +17.57% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (15 years), FEMS annualized +4.72% vs +13.10% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FEMS or IVV?
FEMS has been the more volatile fund at 19.2% annualized versus 14.1% for IVV. Worst drawdown: FEMS -52.3% vs IVV -33.9%.
Should I hold both FEMS and IVV?
FEMS and IVV have a monthly-return correlation of 0.62, 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, FEMS or IVV?
FEMS yields 4.09% while IVV yields 1.06%, so FEMS currently pays the higher dividend yield.
Is IVV better than FEMS?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. FEMS is less concentrated, with 13.7% of the fund in its ten largest positions against 37.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.