FEMB vs AFB

Comparison between FIRST TRUST EMERGING MARKETS LOCAL CURRENCY BOND ETF (FEMB, ETF) and AllianceBernstein National Municipal Income Fund Inc (AFB, ETF).

5-Year PerformanceFEMB has outperformed AFB, delivering a return of +2.6% compared to -1.8%

FEMB vs AFB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	FEMB(ETF)	AFB(ETF)
Net Assets	$353M	$353M
Expense Ratio	0.85%	N/A
Max Drawdown	52.52%	56.18%
Sharpe Ratio	0.53	1.30
5Y Beta	0.15	0.10
5Y Dividends CAGR	-1.78%	-2.10%

Net Assets

Winner

FEMB

$353M

AFB

$353M

Expense Ratio

FEMB

0.85%

AFB

N/A

Max Drawdown

Winner

FEMB

52.52%

AFB

56.18%

Sharpe Ratio

FEMB

0.53

Winner

AFB

1.30

5Y Beta

FEMB

0.15

Winner

AFB

0.10

5Y Dividends CAGR

Winner

FEMB

-1.78%

AFB

-2.10%

FEMB vs AFB - Historical Returns

Returns include dividend reinvestment.

Period	FEMB	AFB
1 month	+0.28%	-2.04%
3 months	-0.68%	+2.08%
6 months	+0.37%	+4.37%
1 year	+7.61%	+15.23%
5 years(CAGR)	+2.60%	-1.81%
10 years(CAGR)	+1.89%	+1.36%
Max(CAGR)	+1.01%	+4.40%

Winner

FEMB

+0.28%

AFB

-2.04%

FEMB

-0.68%

Winner

AFB

+2.08%

FEMB

+0.37%

Winner

AFB

+4.37%

FEMB

+7.61%

Winner

AFB

+15.23%

5Y(CAGR)

Winner

FEMB

+2.60%

AFB

-1.81%

10Y(CAGR)

Winner

FEMB

+1.89%

AFB

+1.36%

Max(CAGR)

FEMB

+1.01%

Winner

AFB

+4.40%

FEMB vs AFB - Annual Returns (2002 - 2026)

Returns include dividend reinvestment.

Year	FEMB	AFB
2026	+1.25%	+4.95%
2025	+20.69%	+3.74%
2024	-5.09%	+3.62%
2023	+17.88%	+6.52%
2022	-10.14%	-26.36%
2021	-13.65%	+7.80%
2020	+2.46%	+8.62%
2019	+11.63%	+17.80%
2018	-7.92%	-5.64%
2017	+12.34%	+5.98%
2016	+7.26%	+0.60%
2015	-14.12%	+6.57%
2014	-3.38%	+17.08%
2013	N/A	-16.19%
2012	N/A	+12.31%
2011	N/A	+23.79%
2010	N/A	+2.72%
2009	N/A	+46.56%
2008	N/A	-26.19%
2007	N/A	-7.62%
2006	N/A	+5.59%
2005	N/A	+17.67%
2004	N/A	+6.73%
2003	N/A	+9.12%
2002	N/A	-3.10%

FEMB vs AFB Drawdown Comparison

The maximum drawdown for FEMB was -30.44%, occurring on Oct 19, 2022. Recovery took 1186 trading sessions.

The maximum drawdown for AFB was -51.00%, occurring on Oct 10, 2008. Recovery took 746 trading sessions.

The current FEMB drawdown is -3.13%. The current AFB drawdown is -10.27%.

Rank	FEMB	AFB
#1	-30.44% Dec 18, 2020 - Sep 11, 2025	-51.00% Oct 19, 2006 - Oct 7, 2009
#2	-23.94% Feb 1, 2018 - Dec 7, 2020	-35.14% Dec 16, 2021 - Oct 20, 2023
#3	-20.53% Nov 25, 2014 - Sep 1, 2017	-26.40% Jan 18, 2013 - Jan 7, 2016
#4	-7.58% Feb 25, 2026 - Mar 30, 2026	-23.23% Mar 6, 2020 - Nov 27, 2020
#5	-7.12% Sep 8, 2017 - Jan 24, 2018	-18.03% Oct 7, 2010 - Sep 13, 2011
#6	-1.70% Sep 23, 2025 - Nov 6, 2025	-14.00% Mar 17, 2004 - Nov 1, 2004
#7	-1.40% Nov 18, 2025 - Dec 3, 2025	-13.99% Jul 8, 2016 - Jun 13, 2019
#8	-1.31% Dec 3, 2025 - Dec 23, 2025	-12.35% Jan 29, 2002 - Apr 28, 2003
#9	-1.20% Jan 29, 2026 - Feb 10, 2026	-9.33% Oct 7, 2009 - Jan 25, 2010
#10	-0.78% Nov 5, 2014 - Nov 18, 2014	-8.25% Mar 2, 2012 - May 17, 2012
#11	-0.77% Jan 26, 2018 - Feb 1, 2018	-8.16% Jun 13, 2003 - Jan 9, 2004
#12	-0.65% Nov 13, 2025 - Nov 18, 2025	-6.23% Oct 1, 2012 - Jan 7, 2013
#13	-0.65% Feb 17, 2026 - Feb 25, 2026	-6.06% Sep 7, 2005 - Dec 15, 2005
#14	-0.55% Dec 10, 2020 - Dec 15, 2020	-5.38% Jul 11, 2006 - Aug 1, 2006
#15	-0.49% Sep 17, 2025 - Sep 23, 2025	-5.24% Jan 30, 2012 - Mar 2, 2012

Correlation

Correlation between FEMB and AFB is 0.46 which considered as a weak positive correlation - the stocks show a slight tendency to move together.

0.46

-101

Dividend Comparison (2002 - 2026)

FEMB vs AFB dividend yield comparison.

Year	FEMB	AFB
2026	3.79%	3.18%
2025	5.67%	4.72%
2024	6.09%	3.83%
2023	5.15%	3.62%
2022	6.35%	5.26%
2021	6.12%	4.32%
2020	5.29%	4.18%
2019	5.40%	3.93%
2018	5.86%	4.53%
2017	6.38%	4.70%
2016	5.83%	5.34%
2015	4.89%	5.80%
2014	0.62%	6.35%
2013	0.00%	7.06%
2012	0.00%	5.98%
2011	0.00%	6.29%
2010	0.00%	7.19%
2009	0.00%	6.64%
2008	0.00%	8.37%
2007	0.00%	5.91%
2006	0.00%	6.29%
2005	0.00%	6.48%
2004	0.00%	7.14%
2003	0.00%	6.81%
2002	0.00%	5.18%