Fidelity Emerging Markets Multifactor ETF
Top 10 Holdings
What is FDEM?
Fidelity Emerging Markets Multifactor ETF invests at least 80% of its assets in securities included in the Fidelity Emerging Markets Multifactor Index and in depository receipts representing securities included in the index. The Fidelity Emerging Markets Multifactor Index is designed to reflect the performance of stocks of large- and mid-capitalization emerging markets companies that have attractive valuations, high quality profiles, positive momentum signals, lower volatility than the broader emerging markets equity market, and lower correlation to the U.S. equity market. Effective December 1, 2020, "Fidelity Targeted Emerging Markets Factor ETF" is renamed Fidelity Emerging Markets Multifactor ETF and the fund s underlying index, Fidelity Targeted Emerging Markets Factor Index, is renamed Fidelity Emerging Markets Multifactor Index.
ETFs related toFDEM
ETFs correlated to FDEM include DFEM, AVEM, DFAE
What is ETF correlation?
Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.
Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.
Using ETF correlations in portfolio and strategy construction
ETF correlations can help you create investing strategies and portfolios. Use them to:
- •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
- •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
- •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.
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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.
We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.