CTEF vs. FRDM

Last updated Jun 13, 2026

CTEF (Castellan Targeted Equity ETF) and FRDM (Freedom 100 Emerging Markets ETF) are both exchange-traded funds - CTEF is a Mid Cap Blend Equities fund actively managed by Castellan, while FRDM is a Emerging Markets Diversified fund tracking the Life + Liberty Freedom 100 Emerging Markets Index. CTEF is actively managed, while FRDM is passively managed. A 0.70 correlation means they provide meaningful diversification when combined. CTEF charges 0.45%/yr vs 0.49%/yr for FRDM.

Performance

CTEF vs. FRDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Castellan Targeted Equity ETF (CTEF) 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, CTEF achieves a 32.85% return, which is significantly lower than FRDM's 40.13% return.

CTEF

• 1D: 1.34%
• 1M: 9.93%
• YTD: 32.85%
• 6M: 34.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FRDM

• 1D: 0.49%
• 1M: 9.04%
• YTD: 40.13%
• 6M: 46.37%
• 1Y: 87.32%
• 3Y*: 34.29%
• 5Y*: 18.68%
• 10Y*: —

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

CTEF vs. FRDM - Yearly Performance Comparison

	2026 (YTD)	2025
CTEF Castellan Targeted Equity ETF	32.85%	33.10%
FRDM Freedom 100 Emerging Markets ETF	40.13%	34.88%

Correlation

The correlation between CTEF and FRDM is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.70

Return for Risk

CTEF vs. FRDM — Risk / Return Rank

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

CTEF

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FRDM

FRDM Risk / Return Rank: 92
FRDM Sharpe Ratio Rank: 94
FRDM Sortino Ratio Rank: 90
FRDM Omega Ratio Rank: 92
FRDM Calmar Ratio Rank: 91
FRDM Martin Ratio Rank: 91

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.

CTEF vs. FRDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Castellan Targeted Equity ETF (CTEF) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CTEF	FRDM	Difference
Sharpe ratio: Return per unit of total volatility	—	3.15	—
Sortino ratio: Return per unit of downside risk	—	3.68	—
Omega ratio: Gain probability vs. loss probability	—	1.54	—
Calmar ratio: Return relative to maximum drawdown	—	5.02	—
Martin ratio: Return relative to average drawdown	—	19.36	—

Drawdowns

CTEF vs. FRDM - Drawdown Comparison

The maximum CTEF drawdown since its inception was -15.00%, smaller than the maximum FRDM drawdown of -40.49%. Use the drawdown chart below to compare losses from any high point for CTEF and FRDM.

Drawdown Indicators

	CTEF	FRDM	Difference
Max Drawdown Largest peak-to-trough decline	-15.00%	-40.49%	+25.49%
Max Drawdown (1Y) Largest decline over 1 year	—	-16.87%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.87%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.25%	—
Current Drawdown Current decline from peak	0.00%	-4.36%	+4.36%
Average Drawdown Average peak-to-trough decline	-1.78%	-7.09%	+5.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.37%	—

Volatility

Volatility by Period

	CTEF	FRDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.27%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.39%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.30%	26.86%	-4.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.30%	21.35%	+0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.30%	23.09%	-0.79%

CTEF vs. FRDM - Expense Ratio Comparison

CTEF has a 0.45% expense ratio, which is lower than FRDM's 0.49% expense ratio.

Dividends

CTEF vs. FRDM - Dividend Comparison

CTEF's dividend yield for the trailing twelve months is around 0.06%, less than FRDM's 1.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
CTEF Castellan Targeted Equity ETF	0.06%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FRDM Freedom 100 Emerging Markets ETF	1.56%	2.26%	2.53%	2.66%	2.72%	2.17%	1.11%	1.07%

Frequently Asked Questions

Can I hold both CTEF and FRDM in my portfolio?

CTEF and FRDM have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CTEF or FRDM?

On fees, CTEF is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CTEF or FRDM?

CTEF is cheaper with a 0.45% expense ratio, compared with 0.49% for FRDM.

Which ETF pays a higher dividend yield, CTEF or FRDM?

FRDM has the higher dividend yield at 1.56%, compared with 0.06% for CTEF.

What is the main difference between CTEF and FRDM?

CTEF is categorized as Mid Cap Blend Equities, while FRDM is Emerging Markets Diversified. They also come from different issuers: Castellan and Freedom Funds. Their fees differ too: 0.45% for CTEF and 0.49% for FRDM.