FRDM vs. FNDF
FRDM (Freedom 100 Emerging Markets ETF) and FNDF (Schwab Fundamental International Equity ETF) are both exchange-traded funds - FRDM is a Emerging Markets Diversified fund tracking the Life + Liberty Freedom 100 Emerging Markets Index, while FNDF is a Foreign Large Cap Equities fund tracking the RAFI Fundamental High Liquidity Developed ex US Large Index (Net). Both are passively managed. Over the past 5 years, FRDM returned 18.68%/yr vs 13.11%/yr for FNDF. A 0.78 correlation means they provide meaningful diversification when combined. FRDM charges 0.49%/yr vs 0.25%/yr for FNDF.
Performance
FRDM vs. FNDF - Performance Comparison
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Returns By Period
In the year-to-date period, FRDM achieves a 40.13% return, which is significantly higher than FNDF's 19.66% return.
FRDM
- 1D
- 0.49%
- 1M
- 4.97%
- YTD
- 40.13%
- 6M
- 46.37%
- 1Y
- 87.32%
- 3Y*
- 34.29%
- 5Y*
- 18.68%
- 10Y*
- —
FNDF
- 1D
- 0.39%
- 1M
- 0.88%
- YTD
- 19.66%
- 6M
- 21.60%
- 1Y
- 41.60%
- 3Y*
- 22.69%
- 5Y*
- 13.11%
- 10Y*
- 12.34%
FRDM vs. FNDF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FRDM Freedom 100 Emerging Markets ETF | 40.13% | 61.27% | 1.70% | 22.77% | -14.45% | 6.13% | 16.90% | 12.23% |
FNDF Schwab Fundamental International Equity ETF | 19.66% | 40.99% | 2.29% | 20.22% | -7.78% | 14.97% | 3.61% | 10.32% |
Correlation
The correlation between FRDM and FNDF is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since May 23, 2019 | 0.78 |
The correlation between FRDM and FNDF has been stable across timeframes, ranging from 0.77 to 0.81 - a consistent structural relationship.
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Return for Risk
FRDM vs. FNDF — Risk / Return Rank
FRDM
FNDF
FRDM vs. FNDF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Freedom 100 Emerging Markets ETF (FRDM) and Schwab Fundamental International Equity ETF (FNDF). 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.
| FRDM | FNDF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.45 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 5.02 | 3.82 | +1.20 |
| Martin ratioReturn relative to average drawdown | 19.36 | 14.27 | +5.09 |
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Drawdowns
FRDM vs. FNDF - Drawdown Comparison
The maximum FRDM drawdown since its inception was -40.49%, roughly equal to the maximum FNDF drawdown of -40.14%. Use the drawdown chart below to compare losses from any high point for FRDM and FNDF.
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Drawdown Indicators
| FRDM | FNDF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.49% | -40.14% | -0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -16.87% | -10.60% | -6.27% |
Max Drawdown (3Y)Largest decline over 3 years | -16.87% | -13.89% | -2.98% |
Max Drawdown (5Y)Largest decline over 5 years | -29.25% | -25.56% | -3.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.14% | — |
Current DrawdownCurrent decline from peak | -4.36% | -1.94% | -2.42% |
Average DrawdownAverage peak-to-trough decline | -7.09% | -7.63% | +0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.37% | 2.84% | +1.53% |
Volatility
FRDM vs. FNDF - Volatility Comparison
Freedom 100 Emerging Markets ETF (FRDM) has a higher volatility of 14.27% compared to Schwab Fundamental International Equity ETF (FNDF) at 6.65%. This indicates that FRDM's price experiences larger fluctuations and is considered to be riskier than FNDF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRDM | FNDF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.27% | 6.65% | +7.62% |
Volatility (6M)Calculated over the trailing 6-month period | 24.39% | 13.64% | +10.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.86% | 16.00% | +10.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.35% | 16.35% | +5.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.09% | 17.71% | +5.38% |
FRDM vs. FNDF - Expense Ratio Comparison
FRDM has a 0.49% expense ratio, which is higher than FNDF's 0.25% expense ratio.
Dividends
FRDM vs. FNDF - Dividend Comparison
FRDM's dividend yield for the trailing twelve months is around 1.56%, less than FNDF's 2.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNDF Schwab Fundamental International Equity ETF | 2.87% | 3.44% | 4.01% | 3.41% | 3.10% | 3.54% | 2.17% | 3.20% | 3.47% | 2.32% | 2.42% | 2.08% |
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
FRDM and FNDF have a correlation of 0.81, 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 FNDF (6.65%). In terms of maximum drawdown, FRDM dropped -40.49% vs FNDF's -40.14%.
On 5-year performance, FRDM leads with 18.68% vs 13.11% for FNDF. On fees, FNDF is cheaper at 0.25% per year. On volatility, FNDF has been the lower-risk option at 6.65%. 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 13.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNDF is cheaper with a 0.25% expense ratio, compared with 0.49% for FRDM.
FNDF has the higher dividend yield at 2.87%, compared with 1.56% for FRDM.
FRDM is categorized as Emerging Markets Diversified, while FNDF is Foreign Large Cap Equities. FRDM tracks Life + Liberty Freedom 100 Emerging Markets Index, while FNDF tracks RAFI Fundamental High Liquidity Developed ex US Large Index (Net). They also come from different issuers: Freedom Funds and Charles Schwab. Their fees differ too: 0.49% for FRDM and 0.25% for FNDF.
FRDM currently has the higher Sharpe Ratio (3.15 vs 2.53), 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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