diff --git a/bin/resources/shaders/dx11/tfx.fx b/bin/resources/shaders/dx11/tfx.fx
index 9d9a45105d..80915b1ef7 100644
--- a/bin/resources/shaders/dx11/tfx.fx
+++ b/bin/resources/shaders/dx11/tfx.fx
@@ -631,7 +631,7 @@ float4 sample_color(float2 st, float uv_w)
 		}
 		else if(PS_AEM_FMT == FMT_16)
 		{
-			c[i].a = c[i].a >= 0.5 ? TA.y : !PS_AEM || any(c[i].rgb) ? TA.x : 0;
+			c[i].a = c[i].a >= 0.5 ? TA.y : !PS_AEM || any(int3(c[i].rgb * 255.0f) & 0xF8) ? TA.x : 0;
 		}
 	}
 
diff --git a/bin/resources/shaders/opengl/tfx_fs.glsl b/bin/resources/shaders/opengl/tfx_fs.glsl
index e12a4ae6d1..33728f964e 100644
--- a/bin/resources/shaders/opengl/tfx_fs.glsl
+++ b/bin/resources/shaders/opengl/tfx_fs.glsl
@@ -580,7 +580,7 @@ vec4 sample_color(vec2 st)
 		c[i].a = ( (PS_AEM == 0) || any(bvec3(c[i].rgb))  ) ? TA.x : 0.0f;
 		//c[i].a = ( (PS_AEM == 0) || (sum > 0.0f) ) ? TA.x : 0.0f;
 #elif (PS_AEM_FMT == FMT_16)
-		c[i].a = c[i].a >= 0.5 ? TA.y : ( (PS_AEM == 0) || any(bvec3(c[i].rgb)) ) ? TA.x : 0.0f;
+		c[i].a = c[i].a >= 0.5 ? TA.y : ( (PS_AEM == 0) || any(bvec3(ivec3(c[i].rgb * 255.0f) & ivec3(0xF8))) ) ? TA.x : 0.0f;
 		//c[i].a = c[i].a >= 0.5 ? TA.y : ( (PS_AEM == 0) || (sum > 0.0f) ) ? TA.x : 0.0f;
 #endif
 	}
diff --git a/bin/resources/shaders/vulkan/tfx.glsl b/bin/resources/shaders/vulkan/tfx.glsl
index a40bd9535d..73c80a03f6 100644
--- a/bin/resources/shaders/vulkan/tfx.glsl
+++ b/bin/resources/shaders/vulkan/tfx.glsl
@@ -817,7 +817,7 @@ vec4 sample_color(vec2 st)
 		#if (PS_AEM_FMT == FMT_24)
 			c[i].a = (PS_AEM == 0 || any(bvec3(c[i].rgb))) ? TA.x : 0.0f;
 		#elif (PS_AEM_FMT == FMT_16)
-			c[i].a = (c[i].a >= 0.5) ? TA.y : ((PS_AEM == 0 || any(bvec3(c[i].rgb))) ? TA.x : 0.0f);
+			c[i].a = (c[i].a >= 0.5) ? TA.y : ((PS_AEM == 0 || any(bvec3(ivec3(c[i].rgb * 255.0f) & ivec3(0xF8)))) ? TA.x : 0.0f);
 		#endif
 	}
 
diff --git a/pcsx2/GS/Renderers/Metal/tfx.metal b/pcsx2/GS/Renderers/Metal/tfx.metal
index 0dc78180ad..294c49b048 100644
--- a/pcsx2/GS/Renderers/Metal/tfx.metal
+++ b/pcsx2/GS/Renderers/Metal/tfx.metal
@@ -702,7 +702,7 @@ struct PSMain
 			if (PS_AEM_FMT == FMT_24)
 				c[i].a = !PS_AEM || any(c[i].rgb != 0) ? cb.ta.x : 0.f;
 			else if (PS_AEM_FMT == FMT_16)
-				c[i].a = c[i].a >= 0.5 ? cb.ta.y : !PS_AEM || any(c[i].rgb != 0) ? cb.ta.x : 0.f;
+				c[i].a = c[i].a >= 0.5 ? cb.ta.y : !PS_AEM || any((int3(c[i].rgb * 255.0f) & 0xF8) != 0) ? cb.ta.x : 0.f;
 		}
 
 		if (PS_LTF)