CFG vs. FRDM

Last updated Jun 4, 2026

CFG (Citizens Financial Group, Inc.) is a stock, while FRDM (Freedom 100 Emerging Markets ETF) is Emerging Markets Diversified fund tracking the Life + Liberty Freedom 100 Emerging Markets Index. Over the past 5 years, CFG returned 8.70%/yr vs 19.30%/yr for FRDM. At a 0.44 correlation, their price movements are largely independent.

Performance

CFG vs. FRDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Citizens Financial Group, Inc. (CFG) and Freedom 100 Emerging Markets ETF (FRDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CFG achieves a 6.84% return, which is significantly lower than FRDM's 44.61% return.

CFG

• 1D: -1.25%
• 1M: -3.19%
• YTD: 6.84%
• 6M: 12.08%
• 1Y: 55.57%
• 3Y*: 35.98%
• 5Y*: 8.70%
• 10Y*: 14.47%

FRDM

• 1D: -1.30%
• 1M: 17.06%
• YTD: 44.61%
• 6M: 53.16%
• 1Y: 97.46%
• 3Y*: 37.08%
• 5Y*: 19.30%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CFG vs. FRDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CFG Citizens Financial Group, Inc.	6.84%	38.60%	38.01%	-11.01%	-13.37%	37.02%	-6.73%	21.74%
FRDM Freedom 100 Emerging Markets ETF	44.61%	61.27%	1.70%	22.77%	-14.45%	6.13%	16.90%	12.33%

Correlation

The correlation between CFG and FRDM is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (All Time) Calculated using the full available price history since May 24, 2019	0.44

The correlation between CFG and FRDM shifts across timeframes, from 0.33 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CFG vs. FRDM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CFG

CFG Risk / Return Rank: 85
CFG Sharpe Ratio Rank: 89
CFG Sortino Ratio Rank: 85
CFG Omega Ratio Rank: 85
CFG Calmar Ratio Rank: 82
CFG Martin Ratio Rank: 86

FRDM

FRDM Risk / Return Rank: 93
FRDM Sharpe Ratio Rank: 95
FRDM Sortino Ratio Rank: 93
FRDM Omega Ratio Rank: 93
FRDM Calmar Ratio Rank: 91
FRDM Martin Ratio Rank: 92

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CFG vs. FRDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Citizens Financial Group, Inc. (CFG) and Freedom 100 Emerging Markets ETF (FRDM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CFG	FRDM	Difference
Sharpe ratio: Return per unit of total volatility	2.14	4.00	-1.86
Sortino ratio: Return per unit of downside risk	2.79	4.65	-1.86
Omega ratio: Gain probability vs. loss probability	1.36	1.67	-0.30
Calmar ratio: Return relative to maximum drawdown	3.05	5.81	-2.76
Martin ratio: Return relative to average drawdown	9.42	23.37	-13.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CFG vs. FRDM - Sharpe Ratio Comparison

The current CFG Sharpe Ratio is 2.14, which is lower than the FRDM Sharpe Ratio of 4.00. The chart below compares the historical Sharpe Ratios of CFG and FRDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CFG	FRDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	4.00	-1.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.93	-0.68
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.85	-0.51

Drawdowns

CFG vs. FRDM - Drawdown Comparison

The maximum CFG drawdown since its inception was -65.60%, which is greater than FRDM's maximum drawdown of -40.49%. Use the drawdown chart below to compare losses from any high point for CFG and FRDM.

Drawdown Indicators

	CFG	FRDM	Difference
Max Drawdown Largest peak-to-trough decline	-65.60%	-40.49%	-25.11%
Max Drawdown (1Y) Largest decline over 1 year	-18.32%	-16.87%	-1.45%
Max Drawdown (3Y) Largest decline over 3 years	-29.08%	-16.87%	-12.21%
Max Drawdown (5Y) Largest decline over 5 years	-56.19%	-29.25%	-26.94%
Max Drawdown (10Y) Largest decline over 10 years	-65.60%	—	—
Current Drawdown Current decline from peak	-9.02%	-1.30%	-7.72%
Average Drawdown Average peak-to-trough decline	-17.95%	-7.09%	-10.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.92%	4.18%	+1.74%

Volatility

CFG vs. FRDM - Volatility Comparison

The current volatility for Citizens Financial Group, Inc. (CFG) is 7.07%, while Freedom 100 Emerging Markets ETF (FRDM) has a volatility of 11.03%. This indicates that CFG experiences smaller price fluctuations and is considered to be less risky than FRDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CFG	FRDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.07%	11.03%	-3.96%
Volatility (6M) Calculated over the trailing 6-month period	18.95%	21.65%	-2.70%
Volatility (1Y) Calculated over the trailing 1-year period	26.11%	24.50%	+1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.02%	20.80%	+13.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.19%	22.77%	+15.42%

Dividends

CFG vs. FRDM - Dividend Comparison

CFG's dividend yield for the trailing twelve months is around 2.93%, more than FRDM's 1.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CFG Citizens Financial Group, Inc.	2.93%	2.94%	3.84%	5.07%	4.11%	3.30%	4.36%	3.35%	3.30%	1.52%	1.29%	1.53%
FRDM Freedom 100 Emerging Markets ETF	1.51%	2.26%	2.53%	2.66%	2.72%	2.17%	1.11%	1.07%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CFG and FRDM in my portfolio?

CFG and FRDM have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CFG or FRDM?

FRDM has higher volatility (11.03%) compared to CFG (7.07%). In terms of maximum drawdown, CFG dropped -65.60% vs FRDM's -40.49%.

Which has better risk-adjusted returns?

FRDM currently has the higher Sharpe Ratio (4.00 vs 2.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.