FRDM vs. DFAE

Last updated Apr 1, 2026

Compare and contrast key facts about Freedom 100 Emerging Markets ETF (FRDM) and Dimensional Emerging Core Equity Market ETF (DFAE).

FRDM and DFAE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FRDM is a passively managed fund by Freedom Funds that tracks the performance of the Life + Liberty Freedom 100 Emerging Markets Index. It was launched on May 22, 2019. DFAE is an actively managed fund by Dimensional. It was launched on Dec 2, 2020.

Performance

FRDM vs. DFAE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Freedom 100 Emerging Markets ETF (FRDM) and Dimensional Emerging Core Equity Market ETF (DFAE). The values are adjusted to include any dividend payments, if applicable.

FRDM vs. DFAE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FRDM Freedom 100 Emerging Markets ETF	7.05%	61.27%	1.70%	22.77%	-14.45%	6.13%	6.11%
DFAE Dimensional Emerging Core Equity Market ETF	4.12%	31.48%	7.68%	12.63%	-17.52%	3.53%	4.85%

Returns By Period

In the year-to-date period, FRDM achieves a 7.05% return, which is significantly higher than DFAE's 4.12% return.

FRDM

• 1D: 4.49%
• 1M: -12.64%
• YTD: 7.05%
• 6M: 24.68%
• 1Y: 59.74%
• 3Y*: 26.32%
• 5Y*: 12.99%
• 10Y*: —

DFAE

• 1D: 3.52%
• 1M: -8.86%
• YTD: 4.12%
• 6M: 8.25%
• 1Y: 33.86%
• 3Y*: 16.49%
• 5Y*: 6.10%
• 10Y*: —

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

FRDM vs. DFAE - Expense Ratio Comparison

FRDM has a 0.49% expense ratio, which is higher than DFAE's 0.35% expense ratio.

FRDM

Freedom 100 Emerging Markets ETF

DFAE

Dimensional Emerging Core Equity Market ETF

Return for Risk

FRDM vs. DFAE — Risk / Return Rank

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

FRDM

FRDM Risk / Return Rank: 95
FRDM Sharpe Ratio Rank: 96
FRDM Sortino Ratio Rank: 96
FRDM Omega Ratio Rank: 95
FRDM Calmar Ratio Rank: 94
FRDM Martin Ratio Rank: 95

DFAE

DFAE Risk / Return Rank: 87
DFAE Sharpe Ratio Rank: 87
DFAE Sortino Ratio Rank: 88
DFAE Omega Ratio Rank: 88
DFAE Calmar Ratio Rank: 87
DFAE Martin Ratio Rank: 87

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.

FRDM vs. DFAE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Freedom 100 Emerging Markets ETF (FRDM) and Dimensional Emerging Core Equity Market ETF (DFAE). 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.

	FRDM	DFAE	Difference
Sharpe ratio Return per unit of total volatility	2.55	1.76	+0.79
Sortino ratio Return per unit of downside risk	3.15	2.35	+0.80
Omega ratio Gain probability vs. loss probability	1.47	1.35	+0.12
Calmar ratio Return relative to maximum drawdown	3.52	2.61	+0.91
Martin ratio Return relative to average drawdown	14.69	10.09	+4.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRDM vs. DFAE - Sharpe Ratio Comparison

The current FRDM Sharpe Ratio is 2.55, which is higher than the DFAE Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of FRDM and DFAE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FRDM	DFAE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	1.76	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.35	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.44	+0.22

Correlation

The correlation between FRDM and DFAE is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FRDM vs. DFAE - Dividend Comparison

FRDM's dividend yield for the trailing twelve months is around 2.04%, less than DFAE's 2.11% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
FRDM Freedom 100 Emerging Markets ETF	2.04%	2.26%	2.53%	2.66%	2.72%	2.17%	1.11%	1.07%
DFAE Dimensional Emerging Core Equity Market ETF	2.11%	2.20%	2.35%	2.43%	2.85%	1.63%	0.01%	0.00%

Drawdowns

FRDM vs. DFAE - Drawdown Comparison

The maximum FRDM drawdown since its inception was -40.49%, which is greater than DFAE's maximum drawdown of -32.21%. Use the drawdown chart below to compare losses from any high point for FRDM and DFAE.

Drawdown Indicators

	FRDM	DFAE	Difference
Max Drawdown Largest peak-to-trough decline	-40.49%	-32.21%	-8.28%
Max Drawdown (1Y) Largest decline over 1 year	-16.87%	-12.80%	-4.07%
Max Drawdown (5Y) Largest decline over 5 years	-29.25%	-32.21%	+2.96%
Current Drawdown Current decline from peak	-13.13%	-9.73%	-3.40%
Average Drawdown Average peak-to-trough decline	-7.21%	-10.59%	+3.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.04%	3.31%	+0.73%

Volatility

FRDM vs. DFAE - Volatility Comparison

Freedom 100 Emerging Markets ETF (FRDM) has a higher volatility of 13.19% compared to Dimensional Emerging Core Equity Market ETF (DFAE) at 10.23%. This indicates that FRDM's price experiences larger fluctuations and is considered to be riskier than DFAE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRDM	DFAE	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.19%	10.23%	+2.96%
Volatility (6M) Calculated over the trailing 6-month period	18.31%	14.31%	+4.00%
Volatility (1Y) Calculated over the trailing 1-year period	23.57%	19.37%	+4.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.00%	17.36%	+2.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.36%	17.50%	+4.86%