SCDS vs. FGSM

Last updated Jun 23, 2026

SCDS (JPMorgan Fundamental Data Science Small Core ETF) and FGSM (Frontier Asset Global Small Cap Equity ETF) are both exchange-traded funds - SCDS is a Small Cap Blend Equities fund actively managed by JPMorgan, while FGSM is a Global Equities fund actively managed by Frontier. Both are actively managed. Over the past year, SCDS returned 48.53% vs 34.41% for FGSM. Their correlation of 0.91 suggests significant overlap in exposure. SCDS charges 0.40%/yr vs 0.90%/yr for FGSM.

Performance

SCDS vs. FGSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Fundamental Data Science Small Core ETF (SCDS) and Frontier Asset Global Small Cap Equity ETF (FGSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCDS achieves a 27.90% return, which is significantly higher than FGSM's 15.80% return.

SCDS

• 1D: 1.07%
• 1M: 5.98%
• YTD: 27.90%
• 6M: 24.54%
• 1Y: 48.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FGSM

• 1D: 0.31%
• 1M: 2.30%
• YTD: 15.80%
• 6M: 14.33%
• 1Y: 34.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCDS vs. FGSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SCDS JPMorgan Fundamental Data Science Small Core ETF	27.90%	11.27%	0.14%
FGSM Frontier Asset Global Small Cap Equity ETF	15.80%	21.33%	-0.27%

Correlation

The correlation between SCDS and FGSM is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024	0.91

The correlation between SCDS and FGSM has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

Return for Risk

SCDS vs. FGSM — Risk / Return Rank

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

SCDS

SCDS Risk / Return Rank: 85
SCDS Sharpe Ratio Rank: 84
SCDS Sortino Ratio Rank: 85
SCDS Omega Ratio Rank: 77
SCDS Calmar Ratio Rank: 91
SCDS Martin Ratio Rank: 89

FGSM

FGSM Risk / Return Rank: 73
FGSM Sharpe Ratio Rank: 74
FGSM Sortino Ratio Rank: 74
FGSM Omega Ratio Rank: 69
FGSM Calmar Ratio Rank: 72
FGSM Martin Ratio Rank: 74

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.

SCDS vs. FGSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Fundamental Data Science Small Core ETF (SCDS) and Frontier Asset Global Small Cap Equity ETF (FGSM). 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.

	SCDS	FGSM	Difference
Sharpe ratio: Return per unit of total volatility	2.62	2.27	+0.35
Sortino ratio: Return per unit of downside risk	3.60	3.19	+0.41
Omega ratio: Gain probability vs. loss probability	1.44	1.40	+0.04
Calmar ratio: Return relative to maximum drawdown	5.51	3.51	+1.99
Martin ratio: Return relative to average drawdown	19.13	13.59	+5.54

SCDS vs. FGSM - Sharpe Ratio Comparison

The current SCDS Sharpe Ratio is 2.62, which is comparable to the FGSM Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of SCDS and FGSM, 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

SCDS vs. FGSM - Drawdown Comparison

The maximum SCDS drawdown since its inception was -26.71%, which is greater than FGSM's maximum drawdown of -17.72%. Use the drawdown chart below to compare losses from any high point for SCDS and FGSM.

Drawdown Indicators

	SCDS	FGSM	Difference
Max Drawdown Largest peak-to-trough decline	-26.71%	-17.72%	-8.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	-9.84%	+0.99%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.16%	-2.17%	-2.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	2.54%	0.00%

Volatility

SCDS vs. FGSM - Volatility Comparison

JPMorgan Fundamental Data Science Small Core ETF (SCDS) has a higher volatility of 6.04% compared to Frontier Asset Global Small Cap Equity ETF (FGSM) at 4.73%. This indicates that SCDS's price experiences larger fluctuations and is considered to be riskier than FGSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCDS	FGSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	4.73%	+1.31%
Volatility (6M) Calculated over the trailing 6-month period	13.57%	11.59%	+1.98%
Volatility (1Y) Calculated over the trailing 1-year period	18.67%	15.26%	+3.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.26%	17.84%	+3.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.26%	17.84%	+3.42%

SCDS vs. FGSM - Expense Ratio Comparison

SCDS has a 0.40% expense ratio, which is lower than FGSM's 0.90% expense ratio.

Dividends

SCDS vs. FGSM - Dividend Comparison

SCDS's dividend yield for the trailing twelve months is around 0.88%, less than FGSM's 1.34% yield.

Position	TTM	2025	2024
FGSM Frontier Asset Global Small Cap Equity ETF	1.34%	1.56%	0.00%
SCDS JPMorgan Fundamental Data Science Small Core ETF	0.88%	1.15%	0.42%

Frequently Asked Questions

Can I hold both SCDS and FGSM in my portfolio?

With a correlation of 0.90, SCDS and FGSM 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, SCDS or FGSM?

SCDS has higher volatility (6.04%) compared to FGSM (4.73%). In terms of maximum drawdown, SCDS dropped -26.71% vs FGSM's -17.72%.

Which ETF is better, SCDS or FGSM?

On 1-year performance, SCDS leads with 48.53% vs 34.41% for FGSM. On fees, SCDS is cheaper at 0.40% per year. On volatility, FGSM has been the lower-risk option at 4.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCDS or FGSM?

Over the 1-year period, SCDS has performed better with a 48.53% return vs 34.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCDS or FGSM?

SCDS is cheaper with a 0.40% expense ratio, compared with 0.90% for FGSM.

Which ETF pays a higher dividend yield, SCDS or FGSM?

FGSM has the higher dividend yield at 1.34%, compared with 0.88% for SCDS.

What is the main difference between SCDS and FGSM?

SCDS is categorized as Small Cap Blend Equities, while FGSM is Global Equities. They also come from different issuers: JPMorgan and Frontier. Their fees differ too: 0.40% for SCDS and 0.90% for FGSM.

Which has better risk-adjusted returns?

SCDS currently has the higher Sharpe Ratio (2.62 vs 2.27), 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.