What does the expense ratio represent for these emerging markets ETFs?

The expense ratio is the annual fee charged by fund providers to manage the ETF. For these funds, EMXC has a ratio of 0.25%, while FRDM is 0.49%. This difference is 0.24 percentage points. Although this may seem small, fees are deducted from the fund's assets over time, which can gradually impact net returns compared to a lower-cost alternative. Understanding this cost is essential for evaluating long-term efficiency.

What does it mean that both ETFs are classified as diversified emerging markets?

Being classified as a diversified emerging markets ETF means both funds aim to provide exposure to a broad range of companies in developing economies rather than a single country or industry. This generally helps spread investment risk across various nations and sectors. However, diversification does not guarantee profits or protect against losses, as emerging market economies can still be volatile and susceptible to global economic shifts.

How do inception dates affect the historical data of these funds?

The inception date marks when an ETF was officially launched and began trading. EMXC was launched on 18 July 2017, whereas FRDM was launched on 23 May 2019. This means EMXC has a longer operational history, offering investors more years of performance data to evaluate. A longer track record can sometimes provide more context on how a fund behaves across different economic cycles.

How do the top holdings in EMXC and FRDM differ in terms of concentration?

EMXC's largest holding is NU, which accounts for only 0.50% of its total assets, indicating a highly diversified portfolio with no single dominant company. In contrast, FRDM holds TSM as its top position at 8.01%. This higher weight in FRDM's largest holding suggests a more concentrated approach, where the performance of individual companies like TSM can significantly influence the fund's overall returns.

What is the overlap between the top holdings of EMXC and FRDM?

Based on the provided data, there are no shared top-10 holdings between EMXC and FRDM. EMXC lists NU at 0.50%, while FRDM lists TSM at 8.01% and UMC at 1.37%. The lack of overlap means the two funds expose investors to completely different specific companies, even though both operate within the emerging markets universe. This distinct composition can lead to different risk and return profiles.

How do the dividend yields of these two ETFs compare?

Dividend yield represents the annual dividends paid out divided by the share price. FRDM currently has a dividend yield of 1.51%, while EMXC has a slightly lower yield of 1.88%. While yields can provide income, they are just one part of total return. Investors should consider that dividend payments are not fixed and can be suspended or reduced by the fund managers at any time.

How does the difference in net assets affect these funds?

Net assets refer to the total value of the fund's holdings minus its liabilities. EMXC manages $25.4 billion, while FRDM manages $3.5 billion. Generally, a larger fund size like EMXC can offer better liquidity, making it easier to buy and sell shares without significantly impacting the price. Smaller funds like FRDM might face wider bid-ask spreads, which is the difference between the buying and selling price.

Why might investors choose an emerging markets ETF without China exposure?

Emerging markets indexes often include China, which can constitute a large portion of the total index weight. Excluding China, which EMXC aims to do as suggested by its name (MSCI Emerging Markets Ex China), allows investors to gain exposure to other developing economies like India, Brazil, or Taiwan without the specific risks or concentration associated with the Chinese market.

What role do semiconductor companies like TSM play in FRDM?

FRDM includes TSM (Taiwan Semiconductor Manufacturing Company) as a top holding at 8.01%. TSM is a major global manufacturer of semiconductors. Including such companies suggests an exposure to the technology and manufacturing sectors within emerging markets. This can make the fund more sensitive to global demand for chips and tech cycles compared to a broader, more diversified index fund.

What should I know about the index tracking for these funds?

The data provided states that the index tracked is 'not available' for both EMXC and FRDM in the ground truth figures. Typically, EMXC tracks an MSCI index, while FRDM tracks the Freedom 100 index, but without specific current index details provided in the dataset, investors should consult official fund documents for precise tracking methodologies and selection criteria.

Why are sector weights listed as 'not available' for both funds?

The 'not available' status for sector weights means the specific breakdown of the portfolio by industry (e.g., technology, financials, healthcare) is not currently provided in this dataset. Sector weights are useful for understanding the economic drivers behind a fund's performance. Investors should check the fund's official website for the most up-to-date and detailed portfolio breakdowns.

How do transparent top holdings help in evaluating an ETF?

FRDM's top holdings, TSM and UMC, are clearly identified, offering visibility into specific company exposures. EMXC's top holding of NU is also listed, but at a very low weight. Having transparent top holdings allows investors to see exactly which companies are driving the fund's performance, helping them to understand if their existing portfolio is already over-exposed to these specific stocks.

EMXC vs FRDM

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

This page compares iShares MSCI Emerging Markets ex China ETF (EMXC) and ARK F100 Emerging Markets ETF (FRDM). Review expenses, assets, dividends and how each tracks emerging markets. EMXC has 0.25% fees and $25.4bn assets; FRDM has 0.49% fees and $3.5bn assets. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

EMXC

Metric

FRDM

0.25%

Expense Ratio

0.49%

1.88%

Dividend Yield

1.51%

$25.44B

Net Assets

$3.53B

632

Holdings

136

Jul 18, 2017

Inception Date

May 23, 2019

–

Index Tracked

–

Diversified Emerging Mkts

Fund Category

Diversified Emerging Mkts

EMXC costs about $24.00 less per year for every $10,000 invested.

Shared Top Holdings

These funds do not share any of their top holdings.

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Investment Analysis

EMXC

Pros

EMXC offers a lower 0.25 percent expense ratio compared to FRDM, potentially enhancing net returns over time.
The fund manages $25.4 billion in assets, providing significantly greater liquidity and trading volume than its counterpart.
Launched in 2017, EMXC has a longer operational history, offering more data points for tracking error assessment.

Considerations

EMXC's dividend yield of 1.88 percent is marginally lower than FRDM's, though still competitive for growth-focused emerging markets.
The fund's largest holding, NU, represents only 0.50 percent of assets, indicating extreme diversification but potentially diluted individual stock impact.
Index methodology details are not available, limiting transparency into specific selection criteria or rebalancing frequency for EMXC.

FRDM

Pros

FRDM provides a higher 1.51 percent dividend yield, which may appeal to investors seeking slightly more income generation.
The fund holds TSM as its top position at 8.01 percent, offering significant exposure to a leading global semiconductor manufacturer.
FRDM maintains a concentrated approach with identifiable top holdings, allowing for clearer visibility on key company exposures.

Considerations

FRDM carries a higher 0.49 percent expense ratio, increasing the cost of ownership relative to the lower-cost EMXC fund.
With $3.5 billion in net assets, FRDM is smaller than EMXC, potentially resulting in wider bid-ask spreads and less liquidity.
Launched in 2019, FRDM has a shorter track record than EMXC, providing less historical data on performance consistency.

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About EMXC and FRDM

EMXC (EMXC)

EMXC is the iShares MSCI Emerging Markets ex China ETF, designed to provide equity exposure to emerging markets while excluding mainland China. It aims to track the performance of the MSCI Emerging Markets ex China Index, offering a way for investors to gain diversified exposure across multiple developing economies — such as India, South Korea, Brazil and South Africa — without the concentration that China brings to broader EM benchmarks. As an exchange-traded fund, EMXC trades intraday like a stock and may suit investors seeking a targeted EM sleeve within a global portfolio. Potential benefits include geographic diversification and access to growth markets; risks include higher volatility, currency and political risk, and the possibility of sector or country concentration outside China. This is educational information only — investors should consider their objectives, risk tolerance and costs, and consult a financial professional before investing.

FRDM (FRDM)

The EA Series Trust Freedom 100 Emerging Markets ETF is designed to provide diversified exposure to emerging market companies that exhibit characteristics associated with economic and political freedom. By focusing on nations with strong rule of law, free markets, and open societies, the fund aims to capture growth opportunities in regions that may benefit from these structural advantages. It holds 136 companies, offering a broad snapshot of the emerging market landscape. Investors should note that while this approach seeks to identify potentially robust economies, emerging markets can be more volatile than developed ones. The fund has an expense ratio of 0.49% and a dividend yield of 1.51%. As with any investment, the value of this ETF can rise and fall, and returns are not guaranteed.

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EMXC vs FRDM

Fund Snapshot