FDEM vs IIM

Comparison between FIDELITY EMERGING MARKETS MULTIFACTOR ETF (FDEM, ETF) and Invesco Value Municipal Income Trust (IIM, ETF).

5-Year PerformanceFDEM has outperformed IIM, delivering a return of +9.2% compared to +0.5%

FDEM vs IIM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	FDEM(ETF)	IIM(ETF)
Net Assets	$587M	$587M
Expense Ratio	0.25%	N/A
Max Drawdown	34.04%	46.54%
Sharpe Ratio	1.11	1.39
5Y Beta	0.73	0.19
5Y Dividends CAGR	13.33%	4.35%

Net Assets

Winner

FDEM

$587M

IIM

$587M

Expense Ratio

FDEM

0.25%

IIM

N/A

Max Drawdown

Winner

FDEM

34.04%

IIM

46.54%

Sharpe Ratio

FDEM

1.11

Winner

IIM

1.39

5Y Beta

FDEM

0.73

Winner

IIM

0.19

5Y Dividends CAGR

Winner

FDEM

13.33%

IIM

4.35%

FDEM vs IIM - Historical Returns

Returns include dividend reinvestment.

Period	FDEM	IIM
1 month	-6.69%	+0.76%
3 months	+3.75%	+4.69%
6 months	+9.63%	+6.53%
1 year	+27.04%	+19.79%
5 years(CAGR)	+9.22%	+0.53%
10 years(CAGR)	N/A	+2.33%
Max(CAGR)	+8.44%	+5.62%

FDEM

-6.69%

Winner

IIM

+0.76%

FDEM

+3.75%

Winner

IIM

+4.69%

Winner

FDEM

+9.63%

IIM

+6.53%

Winner

FDEM

+27.04%

IIM

+19.79%

5Y(CAGR)

Winner

FDEM

+9.22%

IIM

+0.53%

10Y(CAGR)

FDEM

N/A

IIM

+2.33%

Max(CAGR)

Winner

FDEM

+8.44%

IIM

+5.62%

FDEM vs IIM - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	FDEM	IIM
2026	+13.34%	+6.32%
2025	+25.57%	+10.49%
2024	+10.29%	+8.05%
2023	+16.71%	+1.96%
2022	-13.41%	-24.99%
2021	-3.71%	+14.43%
2020	+7.21%	+6.40%
2019	+5.72%	+16.89%
2018	N/A	-3.94%
2017	N/A	+6.76%
2016	N/A	-6.13%
2015	N/A	+4.87%
2014	N/A	+27.82%
2013	N/A	-15.82%
2012	N/A	+10.32%
2011	N/A	+26.65%
2010	N/A	+2.22%
2009	N/A	+35.02%
2008	N/A	-16.26%
2007	N/A	-1.26%
2006	N/A	+9.16%
2005	N/A	+6.85%
2004	N/A	+0.01%
2003	N/A	+13.26%
2002	N/A	+10.83%
2001	N/A	+8.90%
2000	N/A	+9.86%
1999	N/A	-5.21%

FDEM vs IIM Drawdown Comparison

The maximum drawdown for FDEM was -33.65%, occurring on Mar 23, 2020. Recovery took 222 trading sessions.

The maximum drawdown for IIM was -40.17%, occurring on Oct 10, 2008. Recovery took 364 trading sessions.

The current FDEM drawdown is -6.73%. The current IIM drawdown is -2.65%.

Rank	FDEM	IIM
#1	-33.65% Jan 17, 2020 - Dec 3, 2020	-40.17% Feb 12, 2008 - Jul 23, 2009
#2	-29.32% Feb 16, 2021 - May 15, 2024	-35.72% Dec 31, 2021 - Jul 2, 2026
#3	-16.03% Sep 26, 2024 - May 19, 2025	-28.68% Mar 6, 2020 - Nov 30, 2020
#4	-12.68% Feb 25, 2026 - Apr 30, 2026	-21.70% Jan 9, 2013 - Oct 3, 2014
#5	-9.65% Apr 17, 2019 - Nov 4, 2019	-18.68% Jul 11, 2016 - Aug 2, 2019
#6	-9.10% Jun 2, 2026 - Jul 17, 2026	-17.73% Sep 8, 2010 - Aug 22, 2011
#7	-7.69% Jul 12, 2024 - Sep 24, 2024	-16.13% Jan 29, 2015 - Jan 4, 2016
#8	-4.69% May 11, 2026 - May 26, 2026	-13.63% Mar 8, 2004 - Jun 16, 2005
#9	-4.56% Nov 7, 2019 - Dec 16, 2019	-13.17% Mar 9, 2012 - Jan 2, 2013
#10	-4.46% May 20, 2024 - Jul 11, 2024	-10.27% Nov 4, 1999 - Jul 6, 2000
#11	-4.36% Sep 17, 2025 - Oct 20, 2025	-10.27% Sep 13, 2000 - Jan 8, 2001
#12	-4.26% Nov 11, 2025 - Jan 2, 2026	-9.06% Jun 16, 2003 - Dec 16, 2003
#13	-4.01% Jan 26, 2021 - Feb 5, 2021	-8.74% May 15, 2007 - Jan 14, 2008
#14	-3.28% Jul 23, 2025 - Aug 12, 2025	-7.97% Sep 14, 2021 - Dec 31, 2021
#15	-2.70% Jan 28, 2026 - Feb 9, 2026	-7.40% Oct 8, 2009 - Dec 17, 2009

Correlation

Correlation between FDEM and IIM is 0.65 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.65

-101

Dividend Comparison (2000 - 2026)

FDEM vs IIM dividend yield comparison.

Year	FDEM	IIM
2026	1.59%	4.29%
2025	3.23%	7.51%
2024	4.05%	6.58%
2023	4.41%	4.72%
2022	3.95%	5.87%
2021	2.71%	4.51%
2020	1.84%	4.48%
2019	2.39%	4.61%
2018	0.00%	5.43%
2017	0.00%	4.99%
2016	0.00%	5.52%
2015	0.00%	5.20%
2014	0.00%	5.49%
2013	0.00%	6.67%
2012	0.00%	5.35%
2011	0.00%	5.50%
2010	0.00%	6.44%
2009	0.00%	5.70%
2008	0.00%	7.39%
2007	0.00%	5.22%
2006	0.00%	5.82%
2005	0.00%	6.10%
2004	0.00%	6.47%
2003	0.00%	8.03%
2002	0.00%	5.82%
2001	0.00%	5.68%
2000	0.00%	2.54%