First Trust Emerging Markets Local Currency… (FEMB) Performance
FEMB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +1.6% since Dec 31, 2025
- 1 year
- +4.9% total return
- 5 years
- +3.8% a year
- 10 years
- +1.8% a year
- Since first price
- +1.1% a year since 2014
FEMB trailing returns vs SPY, QQQ, AGG
| Period | FEMB total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.1% | −1.5% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.0% | −1.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +0.1% | −3.5% | +7.8% | +8.4% | −1.5% |
| YTD | +1.6% | −4.0% | +12.3% | +15.1% | −1.0% |
| 1 year | +4.9% | −2.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +29.7%+9.0%/yr | +7.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +20.6%+3.8%/yr | −10.9% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +19.7%+1.8%/yr | −33.6% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionNov 5, 2014 | +13.4%+1.1%/yr | −43.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FEMB vs SPY
From Nov 5, 2014: FEMB grew to $11,341, SPY to $45,835.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FEMB returns by calendar year
6 of 11 full years positive. Best 2025 (+22.4%), worst 2015 (−14.1%). 2026 is year to date.
FEMB annual returns table
| Year | FEMB | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +1.6% | −7.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +22.4% | −4.9% | +17.7% | +20.8% | +7.2% |
| 2024 | −5.6% | −9.8% | +24.9% | +25.6% | +1.3% |
| 2023 | +17.1% | −9.5% | +26.2% | +54.9% | +5.7% |
| 2022 | −10.5% | −21.1% | −18.2% | −32.6% | −13.0% |
| 2021 | −13.4% | −15.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +3.2% | −23.5% | +18.3% | +48.6% | +7.5% |
| 2019 | +11.5% | −4.7% | +31.2% | +39.0% | +8.5% |
| 2018 | −7.2% | −16.2% | −4.6% | −0.1% | +0.1% |
| 2017 | +11.9% | −7.1% | +21.7% | +32.7% | +3.6% |
| 2016 | +7.3% | −11.1% | +12.0% | +7.1% | +2.4% |
| 2015 | −14.1% | −16.2% | +1.2% | +9.4% | +0.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FEMB largest drawdowns
Now 2.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 18, 2020 | −30.4% | Oct 19, 2022 | Sep 11, 2025 | 1.8 years | 4.7 years |
| Feb 1, 2018 | −23.9% | Mar 23, 2020 | Dec 7, 2020 | 2.1 years | 2.8 years |
| Nov 25, 2014 | −20.5% | Jan 27, 2016 | Sep 1, 2017 | 1.2 years | 2.8 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FEMB risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2014 |
|---|---|---|---|---|
| Annualized return | +8.2% | +3.4% | +1.8% | +0.9% |
| Volatility (annualized) | 9.0% | 10.8% | 11.3% | 11.4% |
| Sharpe ratio | 0.44 | 0.03 | 0.01 | -0.03 |
| Sortino ratio | 0.62 | 0.04 | 0.02 | -0.05 |
| Best month | +6.4% | +7.7% | +7.7% | +8.8% |
| Worst month | −6.2% | −6.6% | −13.8% | −13.8% |
| Best 12 months | +23.1% | +23.1% | +23.1% | +23.1% |
| Worst 12 months | −5.6% | −20.1% | −20.1% | −20.1% |
| Positive months | 64% | 55% | 52% | 51% |
| Beta vs S&P 500 | 0.39 | 0.42 | 0.43 | — |
| Correlation with S&P 500 | 0.53 | 0.61 | 0.59 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FEMB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 132 | −20.1% | +3.7% | +23.1% | 63% |
| 3-year (a year) | 108 | −8.9% | +1.3% | +12.6% | 58% |
| 5-year (a year) | 84 | −5.4% | +0.5% | +5.1% | 60% |
| 10-year (a year) | 24 | −0.7% | +2.0% | +3.4% | 83% |
Every holding period starting at a month-end since 2014. Returns for 3 years and longer are annualized.
FEMB performance overview
First Trust Emerging Markets Local Currency… (FEMB) returned +4.9% over the past year and +1.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2014 it has returned +1.1% a year, turning $10,000 into about $11,341. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −30.4%, from Dec 18, 2020 to Oct 19, 2022, and it took 2.9 years to get back to the old high. FEMB finished 6 of its 11 full calendar years with a gain; the best year was 2025 (+22.4%) and the worst 2015 (−14.1%). Volatility has been 11.4% a year.
Related: FEMB chart, FEMB dividends. See the FEMB overview for the latest quote and fund facts.
FEMB performance FAQ
What is the FEMB return over the past year?
FEMB returned +4.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 2.4%.
What is the average annual return of FEMB?
FEMB has returned +3.8% a year over 5 years, +1.8% a year over 10 years, +1.1% a year since November 5, 2014 (total return, distributions reinvested).
How much would $10,000 invested in FEMB be worth?
$10,000 invested in FEMB at its first recorded close on November 5, 2014 would be worth about $11,341 on October 23, 2026 with distributions reinvested.
What was the worst year for FEMB?
The worst calendar year was 2015, with a total return of −14.1%. The best was 2025 at +22.4%.
What is the biggest drawdown of FEMB?
The largest peak-to-trough decline was −30.4% between December 18, 2020 and October 19, 2022. It recovered to the old high on September 11, 2025, 2.9 years after the bottom.
How volatile is FEMB?
Over the past 3 years FEMB had an annualized volatility of 9.0% and a Sharpe ratio of 0.44 (excess return over 1–3 month T-bills per unit of risk).