FRDM vs. HEEM
Compare and contrast key facts about Freedom 100 Emerging Markets ETF (FRDM) and iShares Currency Hedged MSCI Emerging Markets ETF (HEEM).
FRDM and HEEM 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. HEEM is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets 100% USD Hedged Index. It was launched on Sep 23, 2014. Both FRDM and HEEM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FRDM vs. HEEM - Performance Comparison
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FRDM vs. HEEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FRDM Freedom 100 Emerging Markets ETF | 7.05% | 61.27% | 1.70% | 22.77% | -14.45% | 6.13% | 16.90% | 12.33% |
HEEM iShares Currency Hedged MSCI Emerging Markets ETF | 6.21% | 34.02% | 12.59% | 10.14% | -16.85% | -1.82% | 17.94% | 13.80% |
Returns By Period
In the year-to-date period, FRDM achieves a 7.05% return, which is significantly higher than HEEM's 6.21% return.
FRDM
- 1D
- 4.49%
- 1M
- -12.64%
- YTD
- 7.05%
- 6M
- 24.68%
- 1Y
- 59.74%
- 3Y*
- 26.32%
- 5Y*
- 12.99%
- 10Y*
- —
HEEM
- 1D
- 3.58%
- 1M
- -6.72%
- YTD
- 6.21%
- 6M
- 13.27%
- 1Y
- 37.01%
- 3Y*
- 18.98%
- 5Y*
- 6.31%
- 10Y*
- 9.13%
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FRDM vs. HEEM - Expense Ratio Comparison
FRDM has a 0.49% expense ratio, which is lower than HEEM's 0.72% expense ratio.
Return for Risk
FRDM vs. HEEM — Risk / Return Rank
FRDM
HEEM
FRDM vs. HEEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Freedom 100 Emerging Markets ETF (FRDM) and iShares Currency Hedged MSCI Emerging Markets ETF (HEEM). 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 | HEEM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.55 | 2.12 | +0.43 |
Sortino ratioReturn per unit of downside risk | 3.15 | 2.78 | +0.37 |
Omega ratioGain probability vs. loss probability | 1.47 | 1.41 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 3.52 | 3.22 | +0.30 |
Martin ratioReturn relative to average drawdown | 14.69 | 12.72 | +1.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FRDM | HEEM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.55 | 2.12 | +0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.38 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.40 | +0.26 |
Correlation
The correlation between FRDM and HEEM is 0.79, 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. HEEM - Dividend Comparison
FRDM's dividend yield for the trailing twelve months is around 2.04%, less than HEEM's 3.74% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRDM Freedom 100 Emerging Markets ETF | 2.04% | 2.26% | 2.53% | 2.66% | 2.72% | 2.17% | 1.11% | 1.07% | 0.00% | 0.00% | 0.00% | 0.00% |
HEEM iShares Currency Hedged MSCI Emerging Markets ETF | 3.74% | 3.98% | 2.38% | 2.75% | 7.49% | 1.93% | 1.49% | 3.04% | 2.37% | 2.05% | 1.84% | 6.28% |
Drawdowns
FRDM vs. HEEM - Drawdown Comparison
The maximum FRDM drawdown since its inception was -40.49%, which is greater than HEEM's maximum drawdown of -33.53%. Use the drawdown chart below to compare losses from any high point for FRDM and HEEM.
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Drawdown Indicators
| FRDM | HEEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.49% | -33.53% | -6.96% |
Max Drawdown (1Y)Largest decline over 1 year | -16.87% | -11.42% | -5.45% |
Max Drawdown (5Y)Largest decline over 5 years | -29.25% | -30.64% | +1.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.53% | — |
Current DrawdownCurrent decline from peak | -13.13% | -7.64% | -5.49% |
Average DrawdownAverage peak-to-trough decline | -7.21% | -11.28% | +4.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 2.89% | +1.15% |
Volatility
FRDM vs. HEEM - Volatility Comparison
Freedom 100 Emerging Markets ETF (FRDM) has a higher volatility of 13.19% compared to iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) at 8.92%. This indicates that FRDM's price experiences larger fluctuations and is considered to be riskier than HEEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRDM | HEEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.19% | 8.92% | +4.27% |
Volatility (6M)Calculated over the trailing 6-month period | 18.31% | 13.25% | +5.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.57% | 17.52% | +6.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.00% | 16.55% | +3.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.36% | 17.75% | +4.61% |