FRDM | Freedom 100 Emerging Markets ETF

AS OF

Fund Overview

Objective

The fund seeks to track the total return performance of the Life + Liberty Freedom 100 Emerging Markets Index, a freedom-weighted emerging markets equity strategy using personal and economic freedom metrics as primary factors in its investment selection process.

Benefits

Provides an alternative option with freer country exposures for investors who believe in the long-term benefits of freedom and want to express those preferences in their EM allocations.

Allocates higher weights to freer markets with potential for more sustainable growth, more innovation and adaptability to market trends, and more efficient use of capital and labor.

Rewards markets that promote and protect personal and economic freedoms, while excluding markets with the worst human rights records which may have over-concentrations in other commonly used EM strategies.

Key Documents

Fact Sheet

Presentation

Prospectus

See All Documents »

Fund Details

Options Available
Yes

Morningstar Ratings (03/31/2026)

3-Year

5-Year

©2026 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

The Morningstar Rating™ (“star rating”) is calculated for funds with at least a three-year history.

Exchange-traded and open-end mutual funds are combined into a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance.

The top 10% of funds in each fund category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating™ is a weighted average of the performance figures associated with a fund’s 3-, 5-, and 10-year (if applicable) Morningstar Rating™ metrics.

In the Diversified Emerging Markets category, the Fund was rated 5 stars among 694 funds for the 3-year period and 5 stars among 617 funds for the 5-year period. Star ratings are relative to a peer group and do not necessarily mean the fund had high or positive total returns. Morningstar updates its star ratings monthly. 

Nav and Market Price History

The Premium/Discount shows the difference between the daily market price of the Fund’s shares and the Fund’s net asset value (“NAV”). The table shows the premium or discount of the mid-point price as a percentage of the NAV as well as the number of trading days the Fund traded within the given premium/discount range.
As of Date
March 31, 2026

Completed Calendar Quarters of Current Year

Most Recent Completed Calendar Year

As of Date 30-Day Median Bid/Ask Spread
05/13/2026 0.19

Fund Performance

Monthly End Performance (%)

As of Date
April 30, 2026

Quarterly End Performance (%)

As of Date
March 31, 2026
Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.

The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted. Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times.

Market Price Return is calculated using the price that investors buy and sell ETF shares in the market. The market returns in the table are based on the midpoint of the bid/ask spread at 4 p.m. EST and do not represent the returns you would receive if you traded shares at other times. NAV Return represents the closing price of underlying securities.

Fund Holdings

Effective Date
May 15, 2026

Fund holdings and allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security.

Country Weights

As of Date
May 15, 2026
Country Weight (%)
BRAZIL 7.77
CHILE 13.78
MEXICO 1.94
SOUTH AFRICA 4.46
POLAND 10.26
PHILIPPINES 1.48
INDONESIA 0.96
THAILAND 2.42
MALAYSIA 5.20
TAIWAN 24.94
SOUTH KOREA 26.41
OTHER 0.41

Active Share

As of Date
April 30, 2026

Active share is not a performance measurement. There are no assurances that any strategy or investment approach will meet its objectives. This information should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Past performance is not indicative of future results.

Active share is the percentage of a portfolio’s stock holdings that differ from its benchmark index.1 It is based on the weightings of securities in a portfolio compared with those of its benchmark and can be used as a measure of the degree of a portfolio’s active management. For example, an 80% active share means that 80% of the fund’s holdings deviate from its benchmark (active share values over 100% are possible when there are short positions in the portfolio). Active share is one of many portfolio characteristics that can help investors during the fund selection process, but Alpha Architect cautions against focusing solely on a single data point. When an investor is selecting an active fund, other factors, such as the fund’s objective and strategy, cost, and pre- and post-tax returns over the long term, along with the investor’s personal objectives, time horizon, and risk tolerance, are of primary importance.

1 Cremers, K. J. Martijn, and Antti Petajisto, 2009, How active is your fund manager? A new measure that predicts performance, Review of Financial Studies 22, 3329-3365.

The MSCI EM Index is a capitalization-weighted index that measures the performance of emerging market equities. Indexes are unmanaged and not available for direct investment.

Fund Distributions

Documents

Fact Sheet

Presentation

Statutory Prospectus

Summary Prospectus

SAI

Tax Insert

Part F Q3

Part F Q1

N-PX Proxy Voting Record

Annual Financials

Annual SOI

Annual TSR

Semi-Annual Financials

Semi-Annual SOI

Semi-Annual TSR