SBIO vs. FRDM

Last updated Jun 13, 2026

SBIO (ALPS Medical Breakthroughs ETF) and FRDM (Freedom 100 Emerging Markets ETF) are both exchange-traded funds - SBIO is a Health & Biotech Equities fund tracking the S-Network Medical Breakthroughs Index, while FRDM is a Emerging Markets Diversified fund tracking the Life + Liberty Freedom 100 Emerging Markets Index. Both are passively managed. Over the past 5 years, SBIO returned 1.91%/yr vs 18.68%/yr for FRDM. At a 0.41 correlation, their price movements are largely independent. SBIO charges 0.50%/yr vs 0.49%/yr for FRDM.

Performance

SBIO vs. FRDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Medical Breakthroughs ETF (SBIO) 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, SBIO achieves a 3.01% return, which is significantly lower than FRDM's 40.13% return.

SBIO

• 1D: 1.29%
• 1M: -5.31%
• YTD: 3.01%
• 6M: 2.95%
• 1Y: 68.66%
• 3Y*: 17.63%
• 5Y*: 1.91%
• 10Y*: 9.19%

FRDM

• 1D: 0.49%
• 1M: 5.45%
• YTD: 40.13%
• 6M: 46.37%
• 1Y: 84.22%
• 3Y*: 34.29%
• 5Y*: 18.68%
• 10Y*: —

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

SBIO vs. FRDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SBIO ALPS Medical Breakthroughs ETF	3.01%	55.07%	3.81%	8.68%	-28.08%	-17.55%	21.17%	25.51%
FRDM Freedom 100 Emerging Markets ETF	40.13%	61.27%	1.70%	22.77%	-14.45%	6.13%	16.90%	12.23%

Correlation

The correlation between SBIO and FRDM is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since May 23, 2019	0.41

SBIO vs. FRDM - Sectors Allocation Comparison

Sectors	SBIO	FRDM
Healthcare	100.0%	1.8%
Basic Materials	-	7.4%
Communication Services	-	3.9%
Consumer Cyclical	-	7.8%
Consumer Defensive	-	2.2%
Energy	-	0.1%
Industrials	-	8.6%
Real Estate	-	2.5%
Technology	-	41.1%
Utilities	-	2.6%
Financial Services	-0.0%	22.1%

Return for Risk

SBIO vs. FRDM — Risk / Return Rank

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

SBIO

SBIO Risk / Return Rank: 83
SBIO Sharpe Ratio Rank: 83
SBIO Sortino Ratio Rank: 81
SBIO Omega Ratio Rank: 71
SBIO Calmar Ratio Rank: 92
SBIO Martin Ratio Rank: 85

FRDM

FRDM Risk / Return Rank: 92
FRDM Sharpe Ratio Rank: 94
FRDM Sortino Ratio Rank: 90
FRDM Omega Ratio Rank: 92
FRDM Calmar Ratio Rank: 91
FRDM Martin Ratio Rank: 91

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.

SBIO vs. FRDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Medical Breakthroughs ETF (SBIO) 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.

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.

	SBIO	FRDM	Difference
Sharpe ratio: Return per unit of total volatility	2.32	3.15	-0.83
Sortino ratio: Return per unit of downside risk	3.17	3.68	-0.51
Omega ratio: Gain probability vs. loss probability	1.37	1.54	-0.18
Calmar ratio: Return relative to maximum drawdown	5.45	5.02	+0.43
Martin ratio: Return relative to average drawdown	15.38	19.36	-3.98

SBIO vs. FRDM - Sharpe Ratio Comparison

The current SBIO Sharpe Ratio is 2.32, which is comparable to the FRDM Sharpe Ratio of 3.15. The chart below compares the historical Sharpe Ratios of SBIO 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.

Drawdowns

SBIO vs. FRDM - Drawdown Comparison

The maximum SBIO drawdown since its inception was -63.06%, which is greater than FRDM's maximum drawdown of -40.49%. Use the drawdown chart below to compare losses from any high point for SBIO and FRDM.

Drawdown Indicators

	SBIO	FRDM	Difference
Max Drawdown Largest peak-to-trough decline	-63.06%	-40.49%	-22.57%
Max Drawdown (1Y) Largest decline over 1 year	-12.66%	-16.87%	+4.21%
Max Drawdown (3Y) Largest decline over 3 years	-42.44%	-16.87%	-25.57%
Max Drawdown (5Y) Largest decline over 5 years	-53.10%	-29.25%	-23.85%
Max Drawdown (10Y) Largest decline over 10 years	-63.06%	—	—
Current Drawdown Current decline from peak	-13.95%	-4.36%	-9.59%
Average Drawdown Average peak-to-trough decline	-28.41%	-7.09%	-21.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.51%	4.37%	+0.14%

Volatility

SBIO vs. FRDM - Volatility Comparison

The current volatility for ALPS Medical Breakthroughs ETF (SBIO) is 10.92%, while Freedom 100 Emerging Markets ETF (FRDM) has a volatility of 14.27%. This indicates that SBIO 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

	SBIO	FRDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.92%	14.27%	-3.35%
Volatility (6M) Calculated over the trailing 6-month period	22.88%	24.39%	-1.51%
Volatility (1Y) Calculated over the trailing 1-year period	29.77%	26.86%	+2.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.59%	21.35%	+12.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.18%	23.09%	+10.09%

SBIO vs. FRDM - Expense Ratio Comparison

SBIO has a 0.50% expense ratio, which is higher than FRDM's 0.49% expense ratio.

Dividends

SBIO vs. FRDM - Dividend Comparison

SBIO has not paid dividends to shareholders, while FRDM's dividend yield for the trailing twelve months is around 1.56%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SBIO ALPS Medical Breakthroughs ETF	0.00%	0.00%	3.55%	0.22%	0.00%	0.00%	0.00%	0.04%	2.79%	1.77%

Frequently Asked Questions

Can I hold both SBIO and FRDM in my portfolio?

SBIO and FRDM have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SBIO or FRDM?

FRDM has higher volatility (14.27%) compared to SBIO (10.92%). In terms of maximum drawdown, SBIO dropped -63.06% vs FRDM's -40.49%.

Which ETF is better, SBIO or FRDM?

On 5-year performance, FRDM leads with 18.68% vs 1.91% for SBIO. On fees, FRDM is cheaper at 0.49% per year. On volatility, SBIO has been the lower-risk option at 10.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SBIO or FRDM?

Over the 5-year period, FRDM has performed better with a 18.68% return vs 1.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SBIO or FRDM?

FRDM is cheaper with a 0.49% expense ratio, compared with 0.50% for SBIO.

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

FRDM has the higher dividend yield at 1.56%, compared with 0.00% for SBIO.

What is the main difference between SBIO and FRDM?

SBIO is categorized as Health & Biotech Equities, while FRDM is Emerging Markets Diversified. SBIO tracks S-Network Medical Breakthroughs Index, while FRDM tracks Life + Liberty Freedom 100 Emerging Markets Index. They also come from different issuers: SS&C and Freedom Funds. Their fees differ too: 0.50% for SBIO and 0.49% for FRDM.

Which has better risk-adjusted returns?

FRDM currently has the higher Sharpe Ratio (3.15 vs 2.32), 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.