FEMS ETF — First Trust Emerging Markets Small Cap AlphaDEX® Fund

First Trust Emerging Markets Small Cap AlphaDEX® Fund (FEMS)

FEMS is an ETF. As of August 19, 2026, its distribution rate is 3.92%, its trailing-12-month yield is 4.24%, its expense ratio is 0.80%. Dividend Vision Distribution Safety Score™ is 71/100 (Generally safe). Fund total return is 154.0% over the past 14.5 years, 470.2 points behind SPY at 624.2%.

At the current 3.92% distribution rate, a $10,000 investment would generate approximately $392 per year, or $32.67 per month on an equivalent basis. Actual quarterly payments vary.

FEMS performance versus SPY

Data as of August 19, 2026.

Fund total return is 154.0% over the past 14.5 years, 470.2 points behind SPY at 624.2%. Its deepest 1-year drawdown was 12.4%.

FEMS key facts

Data as of August 19, 2026.

Distribution Safety Score™

71 · Generally safe

Safety-Adjusted Yield

2.78%

Issuer

First Trust

Asset type

ETF

Asset class

Equity

Inception date

02/15/2012

Expense ratio

0.80%

Distribution rate

3.92%

Distribution frequency

Quarterly

Trailing yield

4.24%

Last close

$45.46

AUM

$254,295,178

Average volume

483405.0

Last dividend

$0.4450

Ex-dividend date

06/25/2026

Payment date

06/30/2026

Beta

0.59

P/E ratio

8.335

How Dividend Vision calculates yield and returns

Distribution rate (3.92%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (4.24%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 19, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 19, 2026.

Primary sources: First Trust fund page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

FEMS risks and drawbacks

FEMS's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 12.4%.

Who may consider FEMS — and who may not

FEMS may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors who need monthly cash flow (FEMS pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More funds from First Trust.