FDT vs. FRDM
FDT (First Trust Developed Markets ex-US AlphaDEX Fund) and FRDM (Freedom 100 Emerging Markets ETF) are both exchange-traded funds - FDT is a Foreign Large Cap Equities fund tracking the NASDAQ AlphaDEX DM Ex-US Index, 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, FDT returned 12.16%/yr vs 18.68%/yr for FRDM. A 0.79 correlation means they provide meaningful diversification when combined. FDT charges 0.80%/yr vs 0.49%/yr for FRDM.
Performance
FDT vs. FRDM - Performance Comparison
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Returns By Period
In the year-to-date period, FDT achieves a 23.23% return, which is significantly lower than FRDM's 40.13% return.
FDT
- 1D
- 0.21%
- 1M
- 0.87%
- YTD
- 23.23%
- 6M
- 24.33%
- 1Y
- 50.01%
- 3Y*
- 27.84%
- 5Y*
- 12.16%
- 10Y*
- 11.17%
FRDM
- 1D
- 0.49%
- 1M
- 9.04%
- YTD
- 40.13%
- 6M
- 46.37%
- 1Y
- 87.32%
- 3Y*
- 34.29%
- 5Y*
- 18.68%
- 10Y*
- —
FDT vs. FRDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FDT First Trust Developed Markets ex-US AlphaDEX Fund | 23.23% | 52.21% | 6.97% | 15.03% | -19.51% | 11.43% | 4.29% | 9.29% |
FRDM Freedom 100 Emerging Markets ETF | 40.13% | 61.27% | 1.70% | 22.77% | -14.45% | 6.13% | 16.90% | 12.23% |
Correlation
The correlation between FDT and FRDM is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since May 23, 2019 | 0.79 |
The correlation between FDT and FRDM has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.
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Return for Risk
FDT vs. FRDM — Risk / Return Rank
FDT
FRDM
FDT vs. FRDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Developed Markets ex-US AlphaDEX Fund (FDT) 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.
| FDT | FRDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.54 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 5.02 | -1.32 |
| Martin ratioReturn relative to average drawdown | 14.01 | 19.36 | -5.35 |
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Drawdowns
FDT vs. FRDM - Drawdown Comparison
The maximum FDT drawdown since its inception was -46.10%, which is greater than FRDM's maximum drawdown of -40.49%. Use the drawdown chart below to compare losses from any high point for FDT and FRDM.
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Drawdown Indicators
| FDT | FRDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.10% | -40.49% | -5.61% |
Max Drawdown (1Y)Largest decline over 1 year | -13.41% | -16.87% | +3.46% |
Max Drawdown (3Y)Largest decline over 3 years | -14.29% | -16.87% | +2.58% |
Max Drawdown (5Y)Largest decline over 5 years | -32.80% | -29.25% | -3.55% |
Max Drawdown (10Y)Largest decline over 10 years | -46.10% | — | — |
Current DrawdownCurrent decline from peak | -3.37% | -4.36% | +0.99% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -7.09% | -3.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 4.37% | -0.83% |
Volatility
FDT vs. FRDM - Volatility Comparison
The current volatility for First Trust Developed Markets ex-US AlphaDEX Fund (FDT) is 8.93%, while Freedom 100 Emerging Markets ETF (FRDM) has a volatility of 14.27%. This indicates that FDT 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.
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Volatility by Period
| FDT | FRDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.93% | 14.27% | -5.34% |
Volatility (6M)Calculated over the trailing 6-month period | 17.27% | 24.39% | -7.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.59% | 26.86% | -7.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.46% | 21.35% | -2.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.62% | 23.09% | -4.47% |
FDT vs. FRDM - Expense Ratio Comparison
FDT has a 0.80% expense ratio, which is higher than FRDM's 0.49% expense ratio.
Dividends
FDT vs. FRDM - Dividend Comparison
FDT's dividend yield for the trailing twelve months is around 2.89%, more than FRDM's 1.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDT First Trust Developed Markets ex-US AlphaDEX Fund | 2.89% | 3.27% | 3.89% | 4.36% | 2.29% | 3.80% | 2.42% | 2.78% | 2.13% | 1.57% | 1.76% | 1.83% |
FRDM Freedom 100 Emerging Markets ETF | 1.56% | 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
FDT and FRDM have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRDM has higher volatility (14.27%) compared to FDT (8.93%). In terms of maximum drawdown, FDT dropped -46.10% vs FRDM's -40.49%.
On 5-year performance, FRDM leads with 18.68% vs 12.16% for FDT. On fees, FRDM is cheaper at 0.49% per year. On volatility, FDT has been the lower-risk option at 8.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FRDM has performed better with a 18.68% return vs 12.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FRDM is cheaper with a 0.49% expense ratio, compared with 0.80% for FDT.
FDT has the higher dividend yield at 2.89%, compared with 1.56% for FRDM.
FDT is categorized as Foreign Large Cap Equities, while FRDM is Emerging Markets Diversified. FDT tracks NASDAQ AlphaDEX DM Ex-US Index, while FRDM tracks Life + Liberty Freedom 100 Emerging Markets Index. They also come from different issuers: First Trust and Freedom Funds. Their fees differ too: 0.80% for FDT and 0.49% for FRDM.
FRDM currently has the higher Sharpe Ratio (3.15 vs 2.54), 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.
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