EMXF vs FRDM: Grades, Fees and Holdings Compared

iShares ESG Advanced MSCI EM ETF

EMXFANasdaq

Freedom 100 Emerging Markets ETF

FRDMCCboe

Overlap

17.8%by weight

Expense ratio

EMXF −0.33pt a year

EMXF0.16%FRDM0.49%

Avg volume · 30D

FRDM 34.4×the volume

EMXF8.49KFRDM292K

5Y return · a year

FRDM +9.3pt

EMXF+6.4%FRDM+15.7%

EMXF vs FRDM Performance

Nov 9, 2021 – Nov 9, 2026

+36.3%EMXF+107.4%FRDM

Expense ratio: EMXF 0.16%, better; FRDM 0.49%
Fund size: EMXF $155M; FRDM $3.11B
1Y total return: EMXF +17.2%; FRDM +32.8%, better
Yield (12M): EMXF 2.87%, better; FRDM 1.91%
Holdings: EMXF 585; FRDM 135
Avg volume (30D): EMXF 8.49K sh; FRDM 292K sh, better
NAV per share: EMXF $51.76; FRDM $60.50
52W range

ETF.net Grade

Pillar letters and Scores for EMXF, FRDM, with each pillar’s weight
Pillar	EMXF	FRDM
Cost30% weight	A84Higher	D28
Mission25% weight	A100Higher	A93
Risk15% weight	A71Higher	D33
Tradability15% weight	B57	B61Higher
Holdings10% weight	A78Higher	D33
Durability5% weight	C49	B69Higher

Rank among Emerging Markets ESG & Values Index funds

How we build Categories ›

Same Category. EMXF and FRDM are both graded against the same 12 Emerging Markets ESG & Values Index funds, so their Grades compare head to head.

Emerging Markets ESG & Values Index⁠

Category · 12 funds

See all 12 ›

EMXF ranks 1st and FRDM 9th of 12 funds in the Emerging Markets ESG & Values Index Category.

Rank 1AEMXFiShares ESG Advanced MSCI EM ETFScore 79
Rank 2AESGEiShares ESG Aware MSCI EM ETFScore 76
Rank 8BNUEMNuveen ESG Emerging Markets Equity ETFScore 62
Rank 9CFRDMFreedom 100 Emerging Markets ETFScore 52
Rank 10CEFFEHarbor Osmosis Emerging Markets Resource Efficient ETFScore 47

Our read on each fund

ETF.net Research

EMXFAiShares ESG Advanced MSCI EM ETF

FRDMCFreedom 100 Emerging Markets ETF

In short

EMXF The strict end of ESG in emerging markets. EMXF follows an index that demands stronger ESG ratings, screens out a long list of controversial businesses, and caps any single issuer at 5% so no one giant runs the show.

FRDM Most emerging-markets funds buy the whole market and move on. FRDM tracks the Life + Liberty Freedom 100 Emerging Markets Index instead: a passive, rules-based screen that lands on roughly 100 stocks.

Stated mandate

EMXF The fund is designed to follow an emerging-market equity index that emphasizes stronger ESG ratings and applies extensive screens to controversial business activities.

FRDM The Fund seeks to track, before fees and expenses, the total return of the Life + Liberty Freedom 100 Emerging Markets Index using a passive indexing approach.

Why people hold it

EMXF The "Advanced" label means deep screening: an index built on stronger ESG ratings plus extensive exclusions for controversial business activities, not one or two token cuts.ishares.com
The index caps each issuer at 5%, which matters in emerging markets, where plain cap-weighted portfolios lean hard on a few chip and tech behemoths.ishares.com
0.16% a year is modest for a heavily screened fund, and it sits below the typical expense ratio in its emerging-markets peer group.
Roughly 600 large and mid caps across emerging markets: the screens trim the field without collapsing it into a concentrated handful of names.

FRDM Not the cap-weighted default. A passive index build that ends at about 100 emerging-markets stocks, so the screen actually shapes what you own.
Trading since 2019 and now a multi-billion-dollar fund, so this is an idea with an operating history behind it, not a launch-week pitch.
Stays in its lane: a 1940 Act fund holding emerging-markets equity, closely matching the index it names in its prospectus. Distributions come quarterly.

Worth knowing

EMXF Unscreened emerging-markets trackers such as VWO and SCHE run at a fraction of this expense ratio. The screening is what you are paying for.
A smaller, thinly traded fund. Spreads can widen, so the price on screen and the price you get are not always the same thing.
Cutting whole slices of the emerging-markets universe means this portfolio can look and behave quite differently from a standard EM index, in either direction.

FRDM The screen has a price tag: 0.49% a year versus a 0.19% median across its emerging-markets peer group, with VWO and SCHE sitting at 0.06%.
About 100 names, not thousands. Country and single-stock swings land harder here than in a whole-market emerging-markets basket.
Moderately traded rather than one of the category's volume giants, so spreads deserve a look before you place an order.

Full EMXF profile⁠

Full FRDM profile⁠

EMXF vs FRDM Holdings

How EMXF and FRDM differ

Overlap by weight

17.8%

Shared holdings make up 43.7% of FRDM and 18.2% of EMXF.

Level by level

Holdings36 in both17.8%
Countryby domicile54.7%
Sector11 Sectors75.5%
Asset classStocks100%

Sector

Sector weights in EMXF and FRDM, widest gap first
Sector	Gap	EMXF	FRDM
Technology	FRDM +15.1 points	25.4%	40.5%
Financials	EMXF +14.8 points	39.6%	24.8%
Communication	EMXF +6.1 points	10.0%	3.9%
Materials	FRDM +3.7 points	2.5%	6.2%
Health Care	EMXF +2.7 points	4.4%	1.7%
Industrials	FRDM +2.4 points	5.7%	8.1%
Utilities	FRDM +1.6 points	0.6%	2.2%
Consumer Discretionary	FRDM +1.5 points	6.7%	8.2%
Consumer Staples	EMXF +0.8 points	3.2%	2.4%
Real Estate	FRDM +0.1 points	1.8%	1.9%
Energy	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in EMXF and FRDM, widest gap first
Country	Gap	EMXF	FRDM
China	EMXF +28.0 points	28.0%	0.0%
Chile	FRDM +14.9 points	0.0%	14.9%
India	EMXF +11.8 points	11.8%	0.0%
Poland	FRDM +11.2 points	1.7%	12.9%
South Korea	FRDM +8.1 points	13.9%	22.0%
Saudi Arabia	EMXF +5.3 points	10.3%	5.0%
Malaysia	FRDM +3.8 points	1.6%	5.4%
Brazil	FRDM +3.3 points	3.8%	7.1%
Other countries (5)	FRDM +3.8 points	28.9%	32.7%

Outside the US: EMXF 0% developed, 100% emerging. FRDM 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

EMXF25.8%
FRDM49.4%

Securities held

EMXF562
FRDM130

Asset class

EMXF: Stocks
FRDM: Stocks

Holdings

Only in EMXF526
In both36
Only in FRDM94

Only in EMXF

526 securities, 81.6% of EMXF by weight

Tencent Holdings5.07%
Taiwan Semiconductor Manufacturing4.81%
China Construction Bank Corp H2.18%
Hdfc Bank1.85%
Industrial and Commercial Bank of1.28%
Xiaomi1.27%
Bank of China Ltd H1.01%
Meituan0.99%
Al Rajhi Bank0.94%
Netease0.87%
Nu Holdings Class A0.84%
Ping An Insurance (Group) Co of Ch0.80%
Itau Unibanco Holding Pref SA0.77%
Kb Financial Group0.72%
Samsung Electro Mechanics0.69%
Naspers Limited Class N0.66%
Jd.com Class A0.64%
Axis Bank0.63%
United Micro Electronics Corp0.61%
Mahindra and Mahindra Ltd0.59%
The Saudi National Bank0.58%
Bajaj Finance Ltd0.56%
Kotak Mahindra Bank Ltd0.54%
Kuwait Finance House0.53%
Otp Bank0.53%
Ts Financial Holding0.51%
Shinhan Financial Group0.51%
Trip.com Group0.51%
China Merchants Bank H0.51%
Beone Medicines AG0.48%
National Bank of Kuwait0.47%
China Life Insurance Ltd H0.46%
Asia Vital Components0.46%
Agricultural Bank of China H0.45%
Credicorp Ltd0.45%
Hana Financial Group0.45%
First Abu Dhabi Bank0.45%
Yuanta Financial Holding0.43%
Saudi Telecom0.43%
Qatar National Bank0.42%
E.sun Financial Holding0.42%
Wuxi Biologics Cayman0.41%
Emaar Properties0.41%
Samsung Sdi Ltd0.40%
Baidu0.40%
State Bank of India0.39%
Emirates Telecommunications Group0.39%
Accton Technology0.38%
Mega Financial Holding Ltd0.36%
Eternal0.35%

Only in FRDM

94 securities, 56.1% of FRDM by weight

Samsung Electronics Co Ltd10.26%
Taiwan Semiconductor Manufacturing Co Ltd8.20%
Falabella SA2.75%
Hon Hai Precision Industry Co Ltd2.69%
Vale SA2.49%
Malayan Banking Bhd1.97%
Dino Polska SA1.16%
Public Bank Bhd1.06%
United Microelectronics Corp0.91%
Benefit Systems SA0.88%
Plaza SA0.86%
Alior Bank SA0.84%
Empresas Copec SA0.80%
Quanta Computer Inc0.78%
Cencosud SA0.76%
Weg SA0.75%
Gold Fields Ltd0.74%
FirstRand Ltd0.73%
Grupa Kety SA0.72%
Parque Arauco SA0.72%
Cia de Saneamento Basico do Estado de Sao Paulo SABESP0.68%
Embraer SA0.63%
Xtb SA0.62%
Kasikornbank PCL0.61%
Standard Bank Group Ltd0.57%
Grupo Mexico SAB de CV0.54%
International Container Terminal Services Inc0.50%
Banco Bradesco SA0.48%
MTN Group Ltd0.47%
Gamuda Bhd0.43%
Gulf Development PCL0.42%
Advanced Info Service PCL0.42%
Press Metal Aluminium Holdings Bhd0.41%
Colbun SA0.39%
Hyundai Motor Co0.39%
Kruk SA0.39%
NAVER Corp0.36%
Bangkok Bank PCL0.35%
Suzano SA0.35%
IHH Healthcare Bhd0.32%
Rbh Bank Bhd0.32%
Modivo SA0.30%
Cp All Pcl0.29%
Absa Group Ltd0.27%
Bangkok Dusit Medical Services PCL0.25%
Kia Corp0.24%
Cia Sud Americana de Vapores SA0.24%
Cia Cervecerias Unidas SA0.22%
Sunway Bhd0.21%
First American Government Obligations Fund 12/01/20310.21%

Weight gaps

All 36 Holdings in both funds, largest gap first.

Holding weights in EMXF and FRDM, widest gap first
Holding	Gap	EMXF	FRDM
Bank Pekao SA	FRDM +3.55 points	0.23%	3.78%
Latam Airlines Group	FRDM +3.55 points	0.16%	3.71%
Sk Hynix	FRDM +3.04 points	4.20%	7.24%
Banco De Chile	FRDM +2.96 points	0.17%	3.13%
Mediatek	FRDM +2.32 points	2.88%	5.20%
Lpp SA	FRDM +2.20 points	0.15%	2.35%
Banco De Credito E Inversion	FRDM +1.57 points	0.09%	1.66%
Cd Projekt Red	FRDM +0.88 points	0.08%	0.96%
Fubon Financial Holding	FRDM +0.84 points	0.73%	1.57%
Delta Electronics	FRDM +0.78 points	1.21%	1.99%
Asseco Poland SA	FRDM +0.77 points	0.06%	0.83%
Ctbc Financial Holding	FRDM +0.47 points	0.72%	1.19%
Chunghwa Telecom Ltd	FRDM +0.45 points	0.37%	0.82%
Cathay Financial Holding	FRDM +0.42 points	0.59%	1.01%
B3 Brasil Bolsa Balcao SA	FRDM +0.41 points	0.26%	0.67%
Ase Technology Holding	FRDM +0.37 points	1.03%	1.40%
Equatorial SA	FRDM +0.31 points	0.13%	0.44%
Rede Dor Sao Luiz SA	FRDM +0.25 points	0.09%	0.34%
Sk Square	EMXF +0.20 points	0.95%	0.75%
Bb Seguridade SA	FRDM +0.18 points	0.09%	0.27%
Bank Central Asia	FRDM +0.15 points	0.27%	0.42%
Raia Drogasil	FRDM +0.12 points	0.07%	0.19%
Doosan Enerbility Ltd	EMXF +0.08 points	0.29%	0.21%
Valterra Platinum Ltd	FRDM +0.07 points	0.35%	0.42%
Arca Continental	FRDM +0.05 points	0.13%	0.18%
Capitec Shs	FRDM +0.04 points	0.50%	0.54%
Bid Corporation	FRDM +0.04 points	0.19%	0.23%
Sanlam Limited Ltd	FRDM +0.05 points	0.18%	0.23%
Shoprite Holdings Ltd	FRDM +0.03 points	0.19%	0.22%
Lg Energy Solution Ltd	EMXF +0.03 points	0.22%	0.19%
Bumi Resources Minerals	FRDM +0.03 points	0.02%	0.05%
Gpo Finance Banorte	EMXF +0.03 points	0.52%	0.49%
Celltrion	EMXF +0.02 points	0.45%	0.43%
America Movil B	EMXF +0.01 points	0.37%	0.36%
Grupo Bimbo A	EMXF +0.02 points	0.10%	0.08%
Grupo Aeroportuario Del Pacifico	EMXF +0.01 points	0.17%	0.16%

All 561 EMXF holdings⁠All 100 FRDM holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EMXF vs FRDM Cost

Overpaying FRDM vs EMXF

$6,450

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

EMXF 0.16%
$3,342
FRDM 0.49%
$9,792

Amount$10,000

Years30 years

Cost over time

EMXF 0.16%
FRDM 0.49%
Overpaying

Year by year

Year	EMXF	FRDM	Overpaying
10	$292	$883	$591
20	$1,141	$3,394	$2,253
30	$3,342	$9,792	$6,450

Expense ratio

0.16%EMXF, cheaper
0.49%FRDM

EMXF0.16%FRDM0.49%

0.15%1.25%

Middle half of Emerging Markets ESG & Values Index funds
Median 0.33%

EMXF 3rd cheapest of 12 funds

FRDM 9th cheapest of 12 funds

EMXF vs FRDM Dividends

Last 12 months to Nov 9, 2026

Yield (12M): EMXF 2.87%, better; FRDM 1.91%
Payout (12M): EMXF $1.53; FRDM $1.18
Last payment: EMXF $0.47; FRDM $0.29
Ex-dividend: EMXF Jun 15, 2026; FRDM Sep 28, 2026
Paid on: EMXF Jun 18, 2026; FRDM Sep 30, 2026
Frequency: EMXF Twice a year; FRDM Quarterly

Distribution history

Per share, 2019 to 2026, same scale for both

EMXFTwice a year · 13 paymentsAll EMXF payments⁠

FRDMQuarterly · 25 paymentsAll FRDM payments⁠

EMXF vs FRDM Risk

Fall from peak · 5 years

EMXF
FRDM

Risk facts

VolatilityStd dev, 3 years: EMXF 14.6%, betterFRDM 22.9%
Return per unit of riskSharpe ratio, 3 years: EMXF 1.04FRDM 1.19, better
Worst fallMax drawdown, 5 years: EMXF −30.6%FRDM −29.2%, better
Market sensitivityBeta, 5 years: EMXF 0.94FRDM 1.43; Market = 1

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