JMIEX vs. FRDM

Last updated Jun 4, 2026

JMIEX (JPMorgan Emerging Markets Equity Fund) and FRDM (Freedom 100 Emerging Markets ETF) are both Emerging Markets Diversified funds. Over the past 5 years, JMIEX returned 6.36%/yr vs 19.30%/yr for FRDM. Their correlation of 0.80 suggests significant overlap in exposure. JMIEX charges 0.90%/yr vs 0.49%/yr for FRDM.

Performance

JMIEX vs. FRDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Emerging Markets Equity Fund (JMIEX) 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, JMIEX achieves a 33.06% return, which is significantly lower than FRDM's 44.61% return.

JMIEX

• 1D: 0.79%
• 1M: 9.89%
• YTD: 33.06%
• 6M: 36.23%
• 1Y: 67.07%
• 3Y*: 25.66%
• 5Y*: 6.36%
• 10Y*: 12.02%

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)

JMIEX vs. FRDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
JMIEX JPMorgan Emerging Markets Equity Fund	33.06%	40.27%	3.48%	7.32%	-25.68%	-10.29%	34.88%	18.27%
FRDM Freedom 100 Emerging Markets ETF	44.61%	61.27%	1.70%	22.77%	-14.45%	6.13%	16.90%	12.33%

Correlation

The correlation between JMIEX and FRDM is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since May 24, 2019	0.80

The correlation between JMIEX and FRDM has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

Return for Risk

JMIEX vs. FRDM — Risk / Return Rank

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

JMIEX

JMIEX Risk / Return Rank: 92
JMIEX Sharpe Ratio Rank: 96
JMIEX Sortino Ratio Rank: 88
JMIEX Omega Ratio Rank: 88
JMIEX Calmar Ratio Rank: 94
JMIEX Martin Ratio Rank: 95

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.

JMIEX vs. FRDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Emerging Markets Equity Fund (JMIEX) 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.

	JMIEX	FRDM	Difference
Sharpe ratio: Return per unit of total volatility	3.50	4.00	-0.50
Sortino ratio: Return per unit of downside risk	4.26	4.65	-0.40
Omega ratio: Gain probability vs. loss probability	1.62	1.67	-0.04
Calmar ratio: Return relative to maximum drawdown	5.40	5.81	-0.41
Martin ratio: Return relative to average drawdown	22.59	23.37	-0.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMIEX vs. FRDM - Sharpe Ratio Comparison

The current JMIEX Sharpe Ratio is 3.50, which is comparable to the FRDM Sharpe Ratio of 4.00. The chart below compares the historical Sharpe Ratios of JMIEX 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

	JMIEX	FRDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.50	4.00	-0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.93	-0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.85	-0.52

Drawdowns

JMIEX vs. FRDM - Drawdown Comparison

The maximum JMIEX drawdown since its inception was -62.02%, which is greater than FRDM's maximum drawdown of -40.49%. Use the drawdown chart below to compare losses from any high point for JMIEX and FRDM.

Drawdown Indicators

	JMIEX	FRDM	Difference
Max Drawdown Largest peak-to-trough decline	-62.02%	-40.49%	-21.53%
Max Drawdown (1Y) Largest decline over 1 year	-12.56%	-16.87%	+4.31%
Max Drawdown (3Y) Largest decline over 3 years	-15.06%	-16.87%	+1.81%
Max Drawdown (5Y) Largest decline over 5 years	-44.85%	-29.25%	-15.60%
Max Drawdown (10Y) Largest decline over 10 years	-49.51%	—	—
Current Drawdown Current decline from peak	0.00%	-1.30%	+1.30%
Average Drawdown Average peak-to-trough decline	-20.17%	-7.09%	-13.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	4.18%	-1.18%

Volatility

JMIEX vs. FRDM - Volatility Comparison

The current volatility for JPMorgan Emerging Markets Equity Fund (JMIEX) is 8.00%, while Freedom 100 Emerging Markets ETF (FRDM) has a volatility of 11.03%. This indicates that JMIEX 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

	JMIEX	FRDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.00%	11.03%	-3.03%
Volatility (6M) Calculated over the trailing 6-month period	16.24%	21.65%	-5.41%
Volatility (1Y) Calculated over the trailing 1-year period	19.40%	24.50%	-5.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.24%	20.80%	-1.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	22.77%	-3.33%

JMIEX vs. FRDM - Expense Ratio Comparison

JMIEX has a 0.90% expense ratio, which is higher than FRDM's 0.49% expense ratio.

Dividends

JMIEX vs. FRDM - Dividend Comparison

JMIEX's dividend yield for the trailing twelve months is around 1.02%, less than FRDM's 1.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRDM Freedom 100 Emerging Markets ETF	1.51%	2.26%	2.53%	2.66%	2.72%	2.17%	1.11%	1.07%	0.00%	0.00%	0.00%	0.00%
JMIEX JPMorgan Emerging Markets Equity Fund	1.02%	1.36%	1.51%	1.56%	0.54%	3.89%	0.14%	0.81%	0.95%	0.44%	0.81%	0.98%

Frequently Asked Questions

Can I hold both JMIEX and FRDM in my portfolio?

JMIEX and FRDM have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMIEX or FRDM?

FRDM has higher volatility (11.03%) compared to JMIEX (8.00%). In terms of maximum drawdown, JMIEX dropped -62.02% vs FRDM's -40.49%.

Which has better risk-adjusted returns?

FRDM currently has the higher Sharpe Ratio (4.00 vs 3.50), 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.