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FM

iShares MSCI Frontier and Select EM ETF

Tracks the MSCI Frontier and Select EM Index. Provides exposure to frontier markets like Vietnam, Nigeria, and Bangladesh. Very low liquidity and high country-specific risk.

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EquityTER 0.79%Dist.
TER
0.79%
AUM
$0.5B
CAGR
3.5%
Volatility
17.1%
Sharpe
0.03
Max Drawdown
-35.1%
Data Range
2012-09 → 2025-01

Performance Analysis

Maximum Drawdown History

How far the ETF has fallen from its all-time high at each point. Deeper = more painful.

Current DD-16.4%
Worst DD-35.1%
Worst date2020-03

Rolling Returns

Annualized returns over rolling windows. Shows the range of outcomes depending on when you invested.

Avg return1.9%
Best13.6%
Worst-5.9%
% positive52%
113 periods

Key Facts

ISIN
US4642887271
Issuer
BlackRock
Benchmark
MSCI Frontier and Select EM Index
Total Expense Ratio (TER)
0.79%
Assets Under Management
$0.5B approx.
Inception Date
2012-09-12
Domicile
United States
Legal Structure
Open-Ended Fund
Dividend Policy
Distributing (pays dividends)
Replication Method
Physical (Optimized Sampling)
UCITS Status
✗ Not UCITS
Fund Currency
USD
Primary Exchange
NYSE Arca
Number of Holdings
~150

Top 10 Holdings

Top 10 represent 29.9% of the fund.

1
VNINDEXVietnam Index Fund
8.50%
2
VCBVietcombank
4.00%
3
FPTFPT Corporation
3.00%
4
ECOPETROLEcopetrol SA
2.80%
5
SAFARICOMSafaricom PLC
2.50%
6
BKBank of Kenya
2.20%
7
GFIGold Fields Ltd.
2.00%
8
DANGCEMDangote Cement
1.80%
9
ZENITHZenith Bank
1.60%
10
GTBANKGTBank
1.50%

Sector Breakdown

Financials
35%
Materials
12%
Energy
10%
Real Estate
8%
Communication Services
8%
Consumer Staples
7%
Technology
6%
Industrials
5%

Source: Official issuer data · Last updated: 2026-05-12

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Who Is This ETF For?

✓Investors seeking growth exposure to emerging economies (China, India, Brazil, Taiwan, etc.).

Key Risks to Consider

• Market risk: equity values can drop 30-50% in severe bear markets.

• Political and currency risk in emerging markets. Higher volatility than developed markets.

• Non-UCITS: may have unfavorable tax treatment for non-US investors (US estate tax, withholding tax).

Similar ETFs

VWO0.08% TER

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IEMG0.09% TER

iShares Core MSCI Emerging Markets ETF

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EIMI0.18% TER

iShares Core MSCI EM IMI UCITS ETF (Acc)

Emerging Markets (UCITS) · BlackRock

MCHI0.59% TER

iShares MSCI China ETF

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Correlation Matrix

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Data & Methodology

Metadata sourced from official issuer documentation. Price data from Yahoo Finance (monthly adjusted close, includes reinvested dividends and splits). AUM figures are approximate and updated quarterly.

Data source: Yahoo Finance (adjusted close), BlackRock (metadata)Last verified: 2026-04-17

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💬 Frequently Asked Questions

Tracks the MSCI Frontier and Select EM Index. Provides exposure to frontier markets like Vietnam, Nigeria, and Bangladesh. Very low liquidity and high country-specific risk.
FM has a total expense ratio (TER) of 0.79%, which means you pay $79 per year for every $10,000 invested.
Yes, FM is a distributing ETF that pays dividends to shareholders. The frequency depends on the fund's schedule.
FM is a US-domiciled ETF (not UCITS). Non-US investors should consider the US estate tax implications (40% on US assets above $60,000) and the 30% dividend withholding tax (reduced by treaty in some countries).
FM uses optimized sampling, holding a representative subset of the MSCI Frontier and Select EM Index index to minimize costs while closely tracking performance.