FMKT vs. BDGS

Last updated Jun 24, 2026

FMKT (The Free Markets ETF) and BDGS (Bridges Capital Tactical ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past year, FMKT returned 10.12% vs 11.63% for BDGS. A 0.58 correlation means they provide meaningful diversification when combined. FMKT charges 0.76%/yr vs 0.87%/yr for BDGS.

Performance

FMKT vs. BDGS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Free Markets ETF (FMKT) and Bridges Capital Tactical ETF (BDGS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMKT achieves a 1.47% return, which is significantly lower than BDGS's 4.21% return.

FMKT

• 1D: -0.98%
• 1M: -2.33%
• YTD: 1.47%
• 6M: -0.39%
• 1Y: 10.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BDGS

• 1D: -0.33%
• 1M: -1.13%
• YTD: 4.21%
• 6M: 3.97%
• 1Y: 11.63%
• 3Y*: 13.42%
• 5Y*: —
• 10Y*: —

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

FMKT vs. BDGS - Yearly Performance Comparison

	2026 (YTD)	2025
FMKT The Free Markets ETF	1.47%	10.04%
BDGS Bridges Capital Tactical ETF	4.21%	7.81%

Correlation

The correlation between FMKT and BDGS is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jun 10, 2025	0.58

The correlation between FMKT and BDGS has been stable across timeframes, ranging from 0.58 to 0.59 - a consistent structural relationship.

Return for Risk

FMKT vs. BDGS — Risk / Return Rank

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

FMKT

FMKT Risk / Return Rank: 16
FMKT Sharpe Ratio Rank: 17
FMKT Sortino Ratio Rank: 17
FMKT Omega Ratio Rank: 17
FMKT Calmar Ratio Rank: 16
FMKT Martin Ratio Rank: 16

BDGS

BDGS Risk / Return Rank: 62
BDGS Sharpe Ratio Rank: 56
BDGS Sortino Ratio Rank: 61
BDGS Omega Ratio Rank: 64
BDGS Calmar Ratio Rank: 61
BDGS Martin Ratio Rank: 71

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.

FMKT vs. BDGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Free Markets ETF (FMKT) and Bridges Capital Tactical ETF (BDGS). 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.

	FMKT	BDGS	Difference
Sharpe ratio: Return per unit of total volatility	0.51	1.84	-1.33
Sortino ratio: Return per unit of downside risk	0.86	2.75	-1.89
Omega ratio: Gain probability vs. loss probability	1.10	1.37	-0.27
Calmar ratio: Return relative to maximum drawdown	0.57	2.90	-2.33
Martin ratio: Return relative to average drawdown	1.49	12.72	-11.23

FMKT vs. BDGS - Sharpe Ratio Comparison

The current FMKT Sharpe Ratio is 0.51, which is lower than the BDGS Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of FMKT and BDGS, 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

FMKT vs. BDGS - Drawdown Comparison

The maximum FMKT drawdown since its inception was -17.79%, which is greater than BDGS's maximum drawdown of -9.12%. Use the drawdown chart below to compare losses from any high point for FMKT and BDGS.

Drawdown Indicators

	FMKT	BDGS	Difference
Max Drawdown Largest peak-to-trough decline	-17.79%	-9.12%	-8.67%
Max Drawdown (1Y) Largest decline over 1 year	-17.79%	-4.03%	-13.76%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.12%	—
Current Drawdown Current decline from peak	-7.93%	-2.17%	-5.76%
Average Drawdown Average peak-to-trough decline	-5.37%	-0.66%	-4.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.81%	0.92%	+5.89%

Volatility

FMKT vs. BDGS - Volatility Comparison

The Free Markets ETF (FMKT) has a higher volatility of 5.56% compared to Bridges Capital Tactical ETF (BDGS) at 2.30%. This indicates that FMKT's price experiences larger fluctuations and is considered to be riskier than BDGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMKT	BDGS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.56%	2.30%	+3.26%
Volatility (6M) Calculated over the trailing 6-month period	15.22%	5.17%	+10.05%
Volatility (1Y) Calculated over the trailing 1-year period	19.76%	6.38%	+13.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.60%	8.22%	+11.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.60%	8.22%	+11.38%

FMKT vs. BDGS - Expense Ratio Comparison

FMKT has a 0.76% expense ratio, which is lower than BDGS's 0.87% expense ratio.

Dividends

FMKT vs. BDGS - Dividend Comparison

FMKT's dividend yield for the trailing twelve months is around 2.12%, more than BDGS's 0.53% yield.

Position	TTM	2025	2024	2023
BDGS Bridges Capital Tactical ETF	0.53%	0.55%	1.81%	0.84%
FMKT The Free Markets ETF	2.12%	2.15%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FMKT and BDGS in my portfolio?

FMKT and BDGS have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMKT or BDGS?

FMKT has higher volatility (5.56%) compared to BDGS (2.30%). In terms of maximum drawdown, FMKT dropped -17.79% vs BDGS's -9.12%.

Which ETF is better, FMKT or BDGS?

On 1-year performance, BDGS leads with 11.63% vs 10.12% for FMKT. On fees, FMKT is cheaper at 0.76% per year. On volatility, BDGS has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FMKT or BDGS?

Over the 1-year period, BDGS has performed better with a 11.63% return vs 10.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FMKT or BDGS?

FMKT is cheaper with a 0.76% expense ratio, compared with 0.87% for BDGS.

Which ETF pays a higher dividend yield, FMKT or BDGS?

FMKT has the higher dividend yield at 2.12%, compared with 0.53% for BDGS.

What is the main difference between FMKT and BDGS?

Their fees differ too: 0.76% for FMKT and 0.87% for BDGS.

Which has better risk-adjusted returns?

BDGS currently has the higher Sharpe Ratio (1.84 vs 0.51), 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.