VEXC vs. FRDM

Last updated Jun 23, 2026

VEXC (Vanguard Emerging Markets Ex-China ETF) and FRDM (Freedom 100 Emerging Markets ETF) are both exchange-traded funds - VEXC is a Emerging Markets Equities fund tracking the FTSE Emerging ex China Index, while FRDM is a Emerging Markets Diversified fund tracking the Life + Liberty Freedom 100 Emerging Markets Index. Both are passively managed. Their correlation of 0.89 suggests significant overlap in exposure. VEXC charges 0.07%/yr vs 0.49%/yr for FRDM.

Performance

VEXC vs. FRDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Emerging Markets Ex-China ETF (VEXC) 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, VEXC achieves a 24.82% return, which is significantly lower than FRDM's 49.24% return.

VEXC

• 1D: 1.12%
• 1M: 7.24%
• YTD: 24.82%
• 6M: 26.47%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FRDM

• 1D: 0.13%
• 1M: 12.84%
• YTD: 49.24%
• 6M: 53.92%
• 1Y: 101.71%
• 3Y*: 38.21%
• 5Y*: 20.53%
• 10Y*: —

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

VEXC vs. FRDM - Yearly Performance Comparison

	2026 (YTD)	2025
VEXC Vanguard Emerging Markets Ex-China ETF	24.82%	4.50%
FRDM Freedom 100 Emerging Markets ETF	49.24%	15.33%

Correlation

The correlation between VEXC and FRDM is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025	0.89

Return for Risk

VEXC vs. FRDM — Risk / Return Rank

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

VEXC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FRDM

FRDM Risk / Return Rank: 93
FRDM Sharpe Ratio Rank: 96
FRDM Sortino Ratio Rank: 92
FRDM Omega Ratio Rank: 93
FRDM Calmar Ratio Rank: 93
FRDM Martin Ratio Rank: 93

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.

VEXC vs. FRDM - Risk-Adjusted Trends Comparison

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

	VEXC	FRDM	Difference
Sharpe ratio: Return per unit of total volatility	—	3.76	—
Sortino ratio: Return per unit of downside risk	—	4.22	—
Omega ratio: Gain probability vs. loss probability	—	1.63	—
Calmar ratio: Return relative to maximum drawdown	—	6.06	—
Martin ratio: Return relative to average drawdown	—	23.38	—

Drawdowns

VEXC vs. FRDM - Drawdown Comparison

The maximum VEXC drawdown since its inception was -12.42%, smaller than the maximum FRDM drawdown of -40.49%. Use the drawdown chart below to compare losses from any high point for VEXC and FRDM.

Drawdown Indicators

	VEXC	FRDM	Difference
Max Drawdown Largest peak-to-trough decline	-12.42%	-40.49%	+28.07%
Max Drawdown (1Y) Largest decline over 1 year	—	-16.87%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.87%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.25%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.23%	-7.07%	+4.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.37%	—

Volatility

Volatility by Period

	VEXC	FRDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.80%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.91%	27.26%	-7.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.91%	21.48%	-1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.91%	23.15%	-3.24%

VEXC vs. FRDM - Expense Ratio Comparison

VEXC has a 0.07% expense ratio, which is lower than FRDM's 0.49% expense ratio.

Dividends

VEXC vs. FRDM - Dividend Comparison

VEXC's dividend yield for the trailing twelve months is around 1.38%, less than FRDM's 1.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FRDM Freedom 100 Emerging Markets ETF	1.47%	2.26%	2.53%	2.66%	2.72%	2.17%	1.11%	1.07%
VEXC Vanguard Emerging Markets Ex-China ETF	1.38%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VEXC and FRDM in my portfolio?

VEXC and FRDM have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VEXC or FRDM?

On fees, VEXC is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VEXC or FRDM?

VEXC is cheaper with a 0.07% expense ratio, compared with 0.49% for FRDM.

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

FRDM has the higher dividend yield at 1.47%, compared with 1.38% for VEXC.

What is the main difference between VEXC and FRDM?

VEXC is categorized as Emerging Markets Equities, while FRDM is Emerging Markets Diversified. VEXC tracks FTSE Emerging ex China Index, while FRDM tracks Life + Liberty Freedom 100 Emerging Markets Index. They also come from different issuers: Vanguard and Freedom Funds. Their fees differ too: 0.07% for VEXC and 0.49% for FRDM.