JEMA vs. FRDM

Last updated Jun 4, 2026

JEMA (JPMorgan ActiveBuilders Emerging Markets Equity ETF) and FRDM (Freedom 100 Emerging Markets ETF) are both exchange-traded funds - JEMA is a Emerging Markets Equities fund actively managed by JPMorgan, while FRDM is a Emerging Markets Diversified fund tracking the Life + Liberty Freedom 100 Emerging Markets Index. JEMA is actively managed, while FRDM is passively managed. Over the past 5 years, JEMA returned 7.20%/yr vs 19.30%/yr for FRDM. Their correlation of 0.85 suggests significant overlap in exposure. JEMA charges 0.39%/yr vs 0.49%/yr for FRDM.

Performance

JEMA vs. FRDM - Performance Comparison

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

Returns By Period

In the year-to-date period, JEMA achieves a 31.42% return, which is significantly lower than FRDM's 44.61% return.

JEMA

• 1D: -1.10%
• 1M: 9.00%
• YTD: 31.42%
• 6M: 33.11%
• 1Y: 63.06%
• 3Y*: 24.84%
• 5Y*: 7.20%
• 10Y*: —

FRDM

• 1D: -1.30%
• 1M: 17.06%
• YTD: 44.61%
• 6M: 53.16%
• 1Y: 97.46%
• 3Y*: 37.08%
• 5Y*: 19.30%
• 10Y*: —

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

JEMA vs. FRDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	31.42%	34.89%	5.68%	9.82%	-24.98%	-4.78%
FRDM Freedom 100 Emerging Markets ETF	44.61%	61.27%	1.70%	22.77%	-14.45%	-0.97%

Correlation

The correlation between JEMA and FRDM is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Mar 12, 2021	0.85

The correlation between JEMA and FRDM has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

JEMA vs. FRDM - Sectors Allocation Comparison

Sectors	JEMA	FRDM
Technology	41.1%	41.1%
Financial Services	21.2%	22.1%
Consumer Cyclical	9.6%	7.8%
Industrials	7.4%	8.6%
Communication Services	7.0%	3.9%
Energy	4.0%	0.1%
Basic Materials	3.5%	7.4%
Consumer Defensive	2.5%	2.2%
Healthcare	1.7%	1.8%
Utilities	1.4%	2.6%
Real Estate	0.6%	2.5%

Return for Risk

JEMA vs. FRDM — Risk / Return Rank

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

JEMA

JEMA Risk / Return Rank: 88
JEMA Sharpe Ratio Rank: 90
JEMA Sortino Ratio Rank: 86
JEMA Omega Ratio Rank: 89
JEMA Calmar Ratio Rank: 86
JEMA Martin Ratio Rank: 89

FRDM

FRDM Risk / Return Rank: 93
FRDM Sharpe Ratio Rank: 95
FRDM Sortino Ratio Rank: 93
FRDM Omega Ratio Rank: 93
FRDM Calmar Ratio Rank: 91
FRDM Martin Ratio Rank: 92

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.

JEMA vs. FRDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) 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.

	JEMA	FRDM	Difference
Sharpe ratio Return per unit of total volatility	3.14	4.00	-0.86
Sortino ratio Return per unit of downside risk	3.92	4.65	-0.73
Omega ratio Gain probability vs. loss probability	1.56	1.67	-0.10
Calmar ratio Return relative to maximum drawdown	4.84	5.81	-0.97
Martin ratio Return relative to average drawdown	19.80	23.37	-3.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JEMA vs. FRDM - Sharpe Ratio Comparison

The current JEMA Sharpe Ratio is 3.14, which is comparable to the FRDM Sharpe Ratio of 4.00. The chart below compares the historical Sharpe Ratios of JEMA and FRDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JEMA	FRDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.14	4.00	-0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.93	-0.55
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.85	-0.45

Drawdowns

JEMA vs. FRDM - Drawdown Comparison

The maximum JEMA drawdown since its inception was -39.50%, roughly equal to the maximum FRDM drawdown of -40.49%. Use the drawdown chart below to compare losses from any high point for JEMA and FRDM.

Drawdown Indicators

	JEMA	FRDM	Difference
Max Drawdown Largest peak-to-trough decline	-39.50%	-40.49%	+0.99%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-16.87%	+3.76%
Max Drawdown (3Y) Largest decline over 3 years	-18.11%	-16.87%	-1.24%
Max Drawdown (5Y) Largest decline over 5 years	-39.45%	-29.25%	-10.20%
Current Drawdown Current decline from peak	-1.10%	-1.30%	+0.20%
Average Drawdown Average peak-to-trough decline	-17.04%	-7.09%	-9.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	4.18%	-0.99%

Volatility

JEMA vs. FRDM - Volatility Comparison

The current volatility for JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) is 8.36%, while Freedom 100 Emerging Markets ETF (FRDM) has a volatility of 11.03%. This indicates that JEMA 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.

Volatility by Period

	JEMA	FRDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.36%	11.03%	-2.67%
Volatility (6M) Calculated over the trailing 6-month period	17.54%	21.65%	-4.11%
Volatility (1Y) Calculated over the trailing 1-year period	20.20%	24.50%	-4.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.02%	20.80%	-1.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.90%	22.77%	-3.87%

JEMA vs. FRDM - Expense Ratio Comparison

JEMA has a 0.39% expense ratio, which is lower than FRDM's 0.49% expense ratio.

Dividends

JEMA vs. FRDM - Dividend Comparison

JEMA's dividend yield for the trailing twelve months is around 2.23%, more than FRDM's 1.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FRDM Freedom 100 Emerging Markets ETF	1.51%	2.26%	2.53%	2.66%	2.72%	2.17%	1.11%	1.07%
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	2.23%	2.93%	2.44%	2.95%	2.69%	1.54%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JEMA and FRDM in my portfolio?

With a correlation of 0.92, JEMA and FRDM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JEMA or FRDM?

FRDM has higher volatility (11.03%) compared to JEMA (8.36%). In terms of maximum drawdown, JEMA dropped -39.50% vs FRDM's -40.49%.

Which ETF is better, JEMA or FRDM?

On 5-year performance, FRDM leads with 19.30% vs 7.20% for JEMA. On fees, JEMA is cheaper at 0.39% per year. On volatility, JEMA has been the lower-risk option at 8.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEMA or FRDM?

Over the 5-year period, FRDM has performed better with a 19.30% return vs 7.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEMA or FRDM?

JEMA is cheaper with a 0.39% expense ratio, compared with 0.49% for FRDM.

Which ETF pays a higher dividend yield, JEMA or FRDM?

JEMA has the higher dividend yield at 2.23%, compared with 1.51% for FRDM.

What is the main difference between JEMA and FRDM?

JEMA is categorized as Emerging Markets Equities, while FRDM is Emerging Markets Diversified. They also come from different issuers: JPMorgan and Freedom Funds. Their fees differ too: 0.39% for JEMA and 0.49% for FRDM.

Which has better risk-adjusted returns?

FRDM currently has the higher Sharpe Ratio (4.00 vs 3.14), 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.