EET vs. FRDM

Last updated Jun 25, 2026

EET (ProShares Ultra MSCI Emerging Markets) and FRDM (Freedom 100 Emerging Markets ETF) are both exchange-traded funds - EET is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (200%), while FRDM is a Emerging Markets Diversified fund tracking the Life + Liberty Freedom 100 Emerging Markets Index. Both are passively managed. Over the past 5 years, EET returned 2.48%/yr vs 18.84%/yr for FRDM. Their correlation of 0.85 suggests significant overlap in exposure. EET charges 0.95%/yr vs 0.49%/yr for FRDM.

Performance

EET vs. FRDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra MSCI Emerging Markets (EET) and Freedom 100 Emerging Markets ETF (FRDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with EET having a 41.10% return and FRDM slightly lower at 40.46%.

EET

• 1D: -0.60%
• 1M: 2.69%
• YTD: 41.10%
• 6M: 42.83%
• 1Y: 81.79%
• 3Y*: 34.98%
• 5Y*: 2.48%
• 10Y*: 10.67%

FRDM

• 1D: 0.42%
• 1M: 6.21%
• YTD: 40.46%
• 6M: 43.19%
• 1Y: 83.09%
• 3Y*: 35.45%
• 5Y*: 18.84%
• 10Y*: —

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

EET vs. FRDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EET ProShares Ultra MSCI Emerging Markets	41.10%	63.14%	2.88%	7.06%	-43.07%	-10.93%	18.92%	25.95%
FRDM Freedom 100 Emerging Markets ETF	40.46%	61.27%	1.70%	22.77%	-14.45%	6.13%	16.90%	12.23%

Correlation

The correlation between EET and FRDM is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since May 23, 2019	0.85

The correlation between EET and FRDM has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.

EET vs. FRDM - Sectors Allocation Comparison

Sectors	EET	FRDM
Financial Services	41.4%	19.4%
Basic Materials	-	6.4%
Communication Services	-	3.2%
Consumer Cyclical	-	7.1%
Consumer Defensive	-	1.9%
Energy	-	0.0%
Healthcare	-	1.5%
Industrials	-	7.6%
Real Estate	-	2.0%
Technology	-	48.9%
Utilities	-	2.1%

Return for Risk

EET vs. FRDM — Risk / Return Rank

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

EET

EET Risk / Return Rank: 62
EET Sharpe Ratio Rank: 63
EET Sortino Ratio Rank: 51
EET Omega Ratio Rank: 61
EET Calmar Ratio Rank: 70
EET Martin Ratio Rank: 67

FRDM

FRDM Risk / Return Rank: 90
FRDM Sharpe Ratio Rank: 93
FRDM Sortino Ratio Rank: 86
FRDM Omega Ratio Rank: 91
FRDM Calmar Ratio Rank: 90
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.

EET vs. FRDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Emerging Markets (EET) 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.

	EET	FRDM	Difference
Sharpe ratio: Return per unit of total volatility	1.83	3.00	-1.17
Sortino ratio: Return per unit of downside risk	2.24	3.46	-1.22
Omega ratio: Gain probability vs. loss probability	1.33	1.52	-0.19
Calmar ratio: Return relative to maximum drawdown	3.12	4.95	-1.83
Martin ratio: Return relative to average drawdown	10.84	18.95	-8.11

EET vs. FRDM - Sharpe Ratio Comparison

The current EET Sharpe Ratio is 1.83, which is lower than the FRDM Sharpe Ratio of 3.00. The chart below compares the historical Sharpe Ratios of EET 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.

Drawdowns

EET vs. FRDM - Drawdown Comparison

The maximum EET drawdown since its inception was -71.66%, which is greater than FRDM's maximum drawdown of -40.49%. Use the drawdown chart below to compare losses from any high point for EET and FRDM.

Drawdown Indicators

	EET	FRDM	Difference
Max Drawdown Largest peak-to-trough decline	-71.66%	-40.49%	-31.17%
Max Drawdown (1Y) Largest decline over 1 year	-26.38%	-16.87%	-9.51%
Max Drawdown (3Y) Largest decline over 3 years	-34.89%	-16.87%	-18.02%
Max Drawdown (5Y) Largest decline over 5 years	-64.51%	-29.25%	-35.26%
Max Drawdown (10Y) Largest decline over 10 years	-69.07%	—	—
Current Drawdown Current decline from peak	-11.38%	-5.88%	-5.50%
Average Drawdown Average peak-to-trough decline	-37.16%	-7.07%	-30.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.57%	4.40%	+3.17%

Volatility

EET vs. FRDM - Volatility Comparison

ProShares Ultra MSCI Emerging Markets (EET) has a higher volatility of 25.42% compared to Freedom 100 Emerging Markets ETF (FRDM) at 15.72%. This indicates that EET's price experiences larger fluctuations and is considered to be riskier than FRDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EET	FRDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.42%	15.72%	+9.70%
Volatility (6M) Calculated over the trailing 6-month period	41.30%	25.69%	+15.61%
Volatility (1Y) Calculated over the trailing 1-year period	45.20%	27.99%	+17.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.04%	21.66%	+17.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.96%	23.26%	+17.70%

EET vs. FRDM - Expense Ratio Comparison

EET has a 0.95% expense ratio, which is higher than FRDM's 0.49% expense ratio.

Dividends

EET vs. FRDM - Dividend Comparison

EET's dividend yield for the trailing twelve months is around 1.34%, less than FRDM's 1.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EET ProShares Ultra MSCI Emerging Markets	1.34%	1.82%	3.85%	2.14%	0.00%	0.00%	0.01%	1.40%	0.16%
FRDM Freedom 100 Emerging Markets ETF	1.56%	2.26%	2.53%	2.66%	2.72%	2.17%	1.11%	1.07%	0.00%

Frequently Asked Questions

Can I hold both EET and FRDM in my portfolio?

With a correlation of 0.92, EET and FRDM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EET or FRDM?

EET has higher volatility (25.42%) compared to FRDM (15.72%). In terms of maximum drawdown, EET dropped -71.66% vs FRDM's -40.49%.

Which ETF is better, EET or FRDM?

On 5-year performance, FRDM leads with 18.84% vs 2.48% for EET. On fees, FRDM is cheaper at 0.49% per year. On volatility, FRDM has been the lower-risk option at 15.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EET or FRDM?

Over the 5-year period, FRDM has performed better with a 18.84% return vs 2.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EET or FRDM?

FRDM is cheaper with a 0.49% expense ratio, compared with 0.95% for EET.

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

FRDM has the higher dividend yield at 1.56%, compared with 1.34% for EET.

What is the main difference between EET and FRDM?

EET is categorized as Leveraged Equities, while FRDM is Emerging Markets Diversified. EET tracks MSCI Emerging Markets Index (200%), while FRDM tracks Life + Liberty Freedom 100 Emerging Markets Index. They also come from different issuers: ProShares and Freedom Funds. Their fees differ too: 0.95% for EET and 0.49% for FRDM.

Which has better risk-adjusted returns?

FRDM currently has the higher Sharpe Ratio (3.00 vs 1.83), 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.