STXE vs. FRDM

Last updated Jun 24, 2026

STXE (Strive Emerging Markets Ex-China ETF) and FRDM (Freedom 100 Emerging Markets ETF) are both Emerging Markets Diversified funds - STXE tracks the Bloomberg US 1000 Dividend Growth Index - Benchmark TR Gross while FRDM tracks the Life + Liberty Freedom 100 Emerging Markets Index. Both are passively managed. Over the past 3 years, STXE returned 28.56%/yr vs 35.26%/yr for FRDM. Their correlation of 0.87 suggests significant overlap in exposure. STXE charges 0.32%/yr vs 0.49%/yr for FRDM.

Performance

STXE vs. FRDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strive Emerging Markets Ex-China ETF (STXE) 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, STXE achieves a 44.03% return, which is significantly higher than FRDM's 39.87% return.

STXE

• 1D: -6.43%
• 1M: 6.24%
• YTD: 44.03%
• 6M: 45.98%
• 1Y: 75.87%
• 3Y*: 28.56%
• 5Y*: —
• 10Y*: —

FRDM

• 1D: -6.27%
• 1M: 5.76%
• YTD: 39.87%
• 6M: 43.31%
• 1Y: 88.48%
• 3Y*: 35.26%
• 5Y*: 18.74%
• 10Y*: —

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

STXE vs. FRDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
STXE Strive Emerging Markets Ex-China ETF	44.03%	34.23%	2.09%	12.38%
FRDM Freedom 100 Emerging Markets ETF	39.87%	61.27%	1.70%	11.66%

Correlation

The correlation between STXE and FRDM is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jan 31, 2023	0.87

The correlation between STXE and FRDM has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

Return for Risk

STXE vs. FRDM — Risk / Return Rank

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

STXE

STXE Risk / Return Rank: 89
STXE Sharpe Ratio Rank: 90
STXE Sortino Ratio Rank: 82
STXE Omega Ratio Rank: 89
STXE Calmar Ratio Rank: 90
STXE Martin Ratio Rank: 91

FRDM

FRDM Risk / Return Rank: 90
FRDM Sharpe Ratio Rank: 93
FRDM Sortino Ratio Rank: 85
FRDM Omega Ratio Rank: 90
FRDM Calmar Ratio Rank: 90
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.

STXE vs. FRDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strive Emerging Markets Ex-China ETF (STXE) 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.

	STXE	FRDM	Difference
Sharpe ratio: Return per unit of total volatility	2.86	3.18	-0.32
Sortino ratio: Return per unit of downside risk	3.40	3.62	-0.22
Omega ratio: Gain probability vs. loss probability	1.52	1.55	-0.02
Calmar ratio: Return relative to maximum drawdown	5.26	5.27	-0.02
Martin ratio: Return relative to average drawdown	20.32	20.25	+0.07

STXE vs. FRDM - Sharpe Ratio Comparison

The current STXE Sharpe Ratio is 2.86, which is comparable to the FRDM Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of STXE 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

STXE vs. FRDM - Drawdown Comparison

The maximum STXE drawdown since its inception was -18.92%, smaller than the maximum FRDM drawdown of -40.49%. Use the drawdown chart below to compare losses from any high point for STXE and FRDM.

Drawdown Indicators

	STXE	FRDM	Difference
Max Drawdown Largest peak-to-trough decline	-18.92%	-40.49%	+21.57%
Max Drawdown (1Y) Largest decline over 1 year	-14.51%	-16.87%	+2.36%
Max Drawdown (3Y) Largest decline over 3 years	-18.92%	-16.87%	-2.05%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.25%	—
Current Drawdown Current decline from peak	-6.43%	-6.27%	-0.16%
Average Drawdown Average peak-to-trough decline	-3.72%	-7.07%	+3.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	4.38%	-0.64%

Volatility

STXE vs. FRDM - Volatility Comparison

Strive Emerging Markets Ex-China ETF (STXE) and Freedom 100 Emerging Markets ETF (FRDM) have volatilities of 15.52% and 15.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	STXE	FRDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.52%	15.75%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	24.95%	25.69%	-0.74%
Volatility (1Y) Calculated over the trailing 1-year period	26.68%	27.99%	-1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.08%	21.67%	-2.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.08%	23.26%	-4.18%

STXE vs. FRDM - Expense Ratio Comparison

STXE has a 0.32% expense ratio, which is lower than FRDM's 0.49% expense ratio.

Dividends

STXE vs. FRDM - Dividend Comparison

STXE's dividend yield for the trailing twelve months is around 1.87%, more than FRDM's 1.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FRDM Freedom 100 Emerging Markets ETF	1.56%	2.26%	2.53%	2.66%	2.72%	2.17%	1.11%	1.07%
STXE Strive Emerging Markets Ex-China ETF	1.87%	2.66%	3.22%	1.08%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both STXE and FRDM in my portfolio?

With a correlation of 0.93, STXE 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, STXE or FRDM?

FRDM has higher volatility (15.75%) compared to STXE (15.52%). In terms of maximum drawdown, STXE dropped -18.92% vs FRDM's -40.49%.

Which ETF is better, STXE or FRDM?

On 3-year performance, FRDM leads with 35.26% vs 28.56% for STXE. On fees, STXE is cheaper at 0.32% per year. On volatility, STXE has been the lower-risk option at 15.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, STXE or FRDM?

Over the 3-year period, FRDM has performed better with a 35.26% return vs 28.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, STXE or FRDM?

STXE is cheaper with a 0.32% expense ratio, compared with 0.49% for FRDM.

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

STXE has the higher dividend yield at 1.87%, compared with 1.56% for FRDM.

What is the main difference between STXE and FRDM?

STXE tracks Bloomberg US 1000 Dividend Growth Index - Benchmark TR Gross, while FRDM tracks Life + Liberty Freedom 100 Emerging Markets Index. They also come from different issuers: Strive and Freedom Funds. Their fees differ too: 0.32% for STXE and 0.49% for FRDM.

Which has better risk-adjusted returns?

FRDM currently has the higher Sharpe Ratio (3.18 vs 2.86), 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.