{"id":4111,"date":"2021-04-01T14:44:51","date_gmt":"2021-04-01T14:44:51","guid":{"rendered":"https:\/\/etfinveste.pt\/?page_id=4111"},"modified":"2021-04-04T09:57:26","modified_gmt":"2021-04-04T09:57:26","slug":"analise14_frdm","status":"publish","type":"page","link":"https:\/\/etfinveste.pt\/analise14_frdm\/","title":{"rendered":"Freedom 100 Emerging Market ETF \u2013 FRDM"},"content":{"rendered":"\t\t
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Freedom 100 Emerging Market ETF – FRDM<\/strong><\/h1><\/div><\/div>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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DESCRI\u00c7\u00c3O<\/span><\/strong><\/h4>\n

Depois de uma longa jornada a analisar ETFs domiciliados na Uni\u00e3o Europeia, voltamos aos EUA. O FRDM \u00e9 um ETF com carater\u00edsticas muito especificas, lan\u00e7ado em maio de 2019 pela Alpha Instruments, subsidi\u00e1ria da Empirical Finance LLC. Este ETF foca-se nos valores da Liberdade, com exposi\u00e7\u00e3o apenas em pa\u00edses emergentes que respeitem um conjunto de crit\u00e9rios, como por exemplo: a liberdade de imprensa ou religiosa, direitos das mulheres, abstin\u00eancia de tortura, tr\u00e1fico humano, terrorismo ou deten\u00e7\u00f5es pol\u00edticas. Pa\u00edses como a China, R\u00fassia, Ar\u00e1bia Saudita ou mesmo a Turquia est\u00e3o fora do portfolio do FRDM, por n\u00e3o se considerarem enquadr\u00e1veis neste conjunto de princ\u00edpios. <\/h4>\n

Perth Tolle<\/i> \u00e9 a fundadora n\u00e3o s\u00f3 deste ETF, como tamb\u00e9m do \u00edndice ao qual o FRDM segue, o Life + Liberty Freedom 100 Emerging Markets Index. <\/i>Este \u00edndice \u00e9 composto com aproximadamente 100 empresas localizadas em pa\u00edses emergentes que respeitem um conjunto de princ\u00edpios Pr\u00f3-vida e Liberdade, com base em estudos desenvolvidos em entidades especializadas neste tema, como a Fraser Institute ou o Cato Institute. Estes institutos publicam anualmente \u00edndices que avaliam as m\u00e9tricas de Liberdade Econ\u00f3mica e dos Direitos Humanos em v\u00e1rios pa\u00edses, como o Economic Freedom of the World report<\/em> ou o Human Freedom index<\/em>. <\/h4>\n

Perth Tolle<\/i>, sendo origin\u00e1ria da China, possui grandes criticas ao financiamento de empresas controladas por Governos que n\u00e3o respeitam os Direitos Humanos e defende tamb\u00e9m que “pa\u00edses livres, crescem de forma mais sustent\u00e1vel, recuperam mais rapidamente de crises e s\u00e3o mais eficientes na gest\u00e3o dos seus recursos humanos e financeiros…<\/i>” <\/h4>\n

O FRDM, sendo um ETF recente, possui um AUM de valor reduzido, atualmente nos 42 milh\u00f5es de d\u00f3lares. Contudo teve um acentuado crescimento, quando foi lan\u00e7ado em 2019, apenas detinha cerca de $2,5M em AUM.<\/h4>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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DIVERSIFICA\u00c7\u00c3O<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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Analisando o FRDM, \u00e9 poss\u00edvel verificar uma maior exposi\u00e7\u00e3o aos setores das Tecnologias de Informa\u00e7\u00e3o e Financeiras, ambos representam mais de 50% da sua carteira. Apesar deste ETF possuir cerca de 100 empresas no seu portfolio, o seu TOP 10 representa mais de 38% da totalidade do FRDM. Verificando individualmente as empresas principais, algumas s\u00e3o facilmente reconhec\u00edveis como a Taiwan Semiconductors MC, a Samsung ou a Mediatek que tamb\u00e9m possuem boas performances em Bolsa no \u00faltimo ano. A \u00fanica empresa europeia no seu TOP 10 \u00e9 a produtora de jogos polaca CD Projekt, que ainda se encontra numa fase descendente depois do lan\u00e7amento do jogo Cyberpunk 2077.<\/h4>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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SETOR<\/th>PESO<\/th>\n<\/tr>\n<\/thead>\n
Tecnologias de Informa\u00e7\u00e3o<\/td>29.11%<\/td>\n<\/tr>\n
Financeiras<\/td>21.10%<\/td>\n<\/tr>\n
Ind. de Materiais e Transforma\u00e7\u00e3o<\/td>14.00%<\/td>\n<\/tr>\n
Bens de Consumo n\u00e3o essenciais<\/td>11.18%<\/td>\n<\/tr>\n
Bens de Consumo essenciais<\/td>8.83%<\/td>\n<\/tr>\n
Industriais e servi\u00e7os diversos\t<\/td>4.31%<\/td>\n<\/tr>\n
Sa\u00fade e Farmac\u00eauticas<\/td>3.84%<\/td>\n<\/tr>\n
Energia<\/td>3.78%<\/td>\n<\/tr>\n
Servi\u00e7os de Comunica\u00e7\u00e3o<\/td>2.71%<\/td>\n<\/tr>\n
Servi\u00e7os de utilidade P\u00fablica\t<\/td>1.14%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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EMPRESA<\/th>PESO<\/th>\n<\/tr>\n<\/thead>\n
TAIWAN SEMIC. MFG LTD ADS<\/td>7.15%<\/td>\n<\/tr>\n
SAMSUNG ELECTRONIC<\/td>7.14%<\/td>\n<\/tr>\n
BANCO DE CHILE<\/td>3.51%<\/td>\n<\/tr>\n
BK CENTRAL ASIA<\/td>3.49%<\/td>\n<\/tr>\n
HON HAI PRECISION<\/td>3.33%<\/td>\n<\/tr>\n
EMPRESAS COPEC SA<\/td>3.21%<\/td>\n<\/tr>\n
MEDIATEK INC<\/td>3.09%<\/td>\n<\/tr>\n
CD PROJEKT SA<\/td>2.98%<\/td>\n<\/tr>\n
FALABELLA SA<\/td>2.56%<\/td>\n<\/tr>\n
EMPRESAS CMPC SA<\/td>2.39%<\/td>\n<\/tr>\n
PESO EMPRESAS TOP 10\t<\/td>38.85%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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PERFORMANCE<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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Analisando o gr\u00e1fico abaixo, \u00e9 poss\u00edvel confirmar uma normal tend\u00eancia de subida do FRDM depois da queda de mar\u00e7o de 2020. Este bateu o seu m\u00e1ximo hist\u00f3rico em fevereiro de 2021, alcan\u00e7ando os $34,93 e desde a\u00ed tem estabilizado.\u00a0<\/h4>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Podemos assumir uma an\u00e1lise positiva, sobre a performance do FRDM, principalmente comparado ao ano passado, n\u00e3o muito longe de duplicar o seu NAV. O seu valor de lan\u00e7amento em 2019 era de 25$ por cada participa\u00e7\u00e3o, logo \u00e9 poss\u00edvel apurar uma valoriza\u00e7\u00e3o de aproximadamente 34% desde o seu lan\u00e7amento. No curto prazo o cen\u00e1rio ainda que positivo, possui um crescimento menos acentuado com valores abaixo dos 5%.<\/span><\/h4>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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PERFORMANCE (at\u00e9 30\/03\/2021)<\/th>FRDM<\/th>\n<\/tr>\n<\/thead>\n
1 M\u00caS<\/td>1.00%<\/td>\n<\/tr>\n
3 MESES<\/td>5.39%<\/td>\n<\/tr>\n
YTD<\/td>4.64%\t<\/td>\n<\/tr>\n
1 ANO<\/td>82.93%<\/td>\n<\/tr>\n
Desde lan\u00e7amento<\/td>34.36%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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OUTROS DADOS<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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Verifica-se uma maior exposi\u00e7\u00e3o a Taiwan, com cerca de 20% de aloca\u00e7\u00e3o no seu portfolio, o que n\u00e3o deixa de ser peculiar dado \u00e0 sua rela\u00e7\u00e3o com a China. Coreia de Sul e Chile fecham o TOP 3 n\u00e3o muito longe percentualmente de Taiwan.<\/span> O FRDM possui um TER de 0,49%, e \u00e9 um ETF distribui\u00e7\u00e3o de dividendos trimestrais<\/span>. N\u00e3o foi poss\u00edvel encontrar um ETF UCITS similar no espa\u00e7o da UE, talvez o mais indicado seja o <\/span>QDVS da iShares, negociado na Bolsa XETRA, mas \u00e9 apenas focado em crit\u00e9rios ESG e inclui a China, com maior exposi\u00e7\u00e3o, no seu portfolio.  <\/h4>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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PA\u00cdS<\/th>PESO<\/th>\n<\/tr>\n<\/thead>\n
Taiwan, Province of China<\/td>20.14%<\/td>\n<\/tr>\n
South Korea<\/td>18.36%<\/td>\n<\/tr>\n
Chile<\/td>17.18%<\/td>\n<\/tr>\n
Poland<\/td>14.33%<\/td>\n<\/tr>\n
Indonesia<\/td>6.62%<\/td>\n<\/tr>\n
South Africa<\/td>6.51%<\/td>\n<\/tr>\n
Philippines<\/td>4.64%<\/td>\n<\/tr>\n
Mexico<\/td>4.19%<\/td>\n<\/tr>\n
Malaysia<\/td>4.02%<\/td>\n<\/tr>\n
Brazil<\/td>4.01%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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C\u00f3digo ISIN\u00a0<\/td>US02072L6074<\/td>\n<\/tr>\n
Ticker<\/td>FRDM<\/td>\n<\/tr>\n
Sociedade gestora<\/td>Empirical Finance LLC<\/td>\n<\/tr>\n
Data de lan\u00e7amento<\/td>2019-05-23<\/td>\n<\/tr>\n
Moeda<\/td>USD<\/td>\n<\/tr>\n
Categoria<\/td>A\u00e7\u00f5es<\/td>\n<\/tr>\n
NAV<\/td>$33,59<\/td>\n<\/tr>\n
AUM<\/td>$41.6M<\/td>\n<\/tr>\n
Distribui\u00e7\u00e3o de Dividendos<\/td>Sim - Trimestral<\/td>\n<\/tr>\n
Total Expense Ratio (TER)\u00a0<\/td>0.49%<\/td>\n<\/tr>\n
Beta (5 anos)<\/td> - - -<\/td>\n<\/tr>\n
R\u00e9plica ETF Europa<\/td> - - -<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Aprecia\u00e7\u00e3o<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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\"\u2705\" O conjunto de princ\u00edpios e valores – Liberdade e Pr\u00f3-vida <\/span><\/h4>\n
– A constru\u00e7\u00e3o do portfolio deste ETF tem como base empresas destacadas em pa\u00edses emergentes que respeitem os valores de Liberdade e do Direito \u00e0 Vida. Ainda que Taiwan, pertencente \u00e0 China, seja o pa\u00eds com mais representatividade no FRDM, a mensagem da fundadora <\/span>Perth Tolle<\/i> \u00e9 muito clara e relevante<\/span>;<\/h6>\n

\"\u2705\" Boa Performance<\/span><\/h4>\n
– Apesar de prescindir de economias com forte presen\u00e7a global, como a China por quest\u00f5es humanit\u00e1rias, a  performance da FRDM n\u00e3o se deixa abalar. Bons resultados desde o seu lan\u00e7amento em 2019 e m\u00e1ximo hist\u00f3rico batido recentemente s\u00e3o bons indicadores. Pessoalmente, tamb\u00e9m gosto da presen\u00e7a de empresas chilenas e polacas, que n\u00e3o sendo t\u00e3o habituais, s\u00e3o economias com potencial;<\/h6>\n
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\"\ud83d\udfe5\"<\/span>\u00a0Baixa Dimens\u00e3o\u00a0<\/span><\/h4>
– \u00c9 um ETF com um AUM muito baixo para a realidade norte-americana, de “apenas” 42 milh\u00f5es de d\u00f3lares. A exist\u00eancia de liquidez \u00e9 preponderante para a correspond\u00eancia das transa\u00e7\u00f5es em Bolsa. Apesar do potencial e crescimento desde o seu lan\u00e7amento, \u00e9 considerado escasso, mesmo para o contexto europeu;<\/span><\/h6>

\"\ud83d\udfe5\" <\/span><\/span>Dif\u00edcil acesso na Uni\u00e3o Europeia<\/span><\/h4>
– Pelo poss\u00edvel facto da sua baixa dimens\u00e3o, torna-se dif\u00edcil aceder a este ETF no espa\u00e7o UE. Nas duas plataformas nacionais que uso, onde habitualmente posso investir em ETFs dos EUA, o FRDM n\u00e3o est\u00e1 listado. Poderia ser interessante a exist\u00eancia de um ETF UCITS com a mesma metodologia.\u00a0 \u00a0\u00a0<\/span><\/h6>
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US02072L6074<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Freedom 100 Emerging Market ETF – FRDM DESCRI\u00c7\u00c3O Depois de uma longa jornada a analisar ETFs domiciliados na Uni\u00e3o Europeia, voltamos aos EUA. O FRDM \u00e9 um ETF com carater\u00edsticas muito especificas, lan\u00e7ado em maio de 2019 pela Alpha Instruments, subsidi\u00e1ria da Empirical Finance LLC. Este ETF foca-se nos valores da Liberdade, com exposi\u00e7\u00e3o apenas …<\/p>\n

Freedom 100 Emerging Market ETF \u2013 FRDM<\/span> Read More »<\/a><\/p>\n","protected":false},"author":1,"featured_media":4113,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-4111","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"\nFreedom 100 Emerging Market ETF \u2013 FRDM - ETFinveste<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/etfinveste.pt\/analise14_frdm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Freedom 100 Emerging Market ETF \u2013 FRDM - ETFinveste\" \/>\n<meta property=\"og:description\" content=\"Freedom 100 Emerging Market ETF – FRDM DESCRI\u00c7\u00c3O Depois de uma longa jornada a analisar ETFs domiciliados na Uni\u00e3o Europeia, voltamos aos EUA. 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