Frontier Asset Global Small Cap Equity ETF (FGSM) Performance
FGSM total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +13.7% since Dec 31, 2025
- 1 year
- +16.4% total return
- Since first price
- +38.3% since 2024
FGSM trailing returns vs SPY, QQQ, AGG
| Period | FGSM total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.8% | −1.9% | −1.0% | −5.0% | +0.9% |
| 3 months | −0.9% | −1.1% | +3.2% | +1.9% | −0.4% |
| 6 months | +2.7% | +2.0% | +7.8% | +8.4% | −1.5% |
| YTD | +13.7% | +12.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +16.4% | +14.7% | +14.4% | +15.9% | −1.1% |
| Since inceptionDec 20, 2024 | +38.3% | +35.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FGSM vs SPY
From Dec 20, 2024: FGSM grew to $13,832, SPY to $13,108.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FGSM returns by calendar year
1 of 1 full years positive. Best 2025 (+21.3%), worst 2025 (+21.3%). 2026 is year to date.
FGSM annual returns table
| Year | FGSM | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +13.7% | −9.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +21.3% | −17.7% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FGSM largest drawdowns
Now 6.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 18, 2025 | −17.7% | Apr 8, 2025 | Jun 3, 2025 | 49 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FGSM risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +20.6% |
| Volatility (annualized) | 12.3% |
| Sharpe ratio | 1.28 |
| Sortino ratio | 2.38 |
| Best month | +8.1% |
| Worst month | −6.2% |
| Best 12 months | +39.1% |
| Worst 12 months | +18.4% |
| Positive months | 67% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FGSM rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 11 | +17.9% | +28.6% | +39.1% | 100% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
FGSM performance overview
Frontier Asset Global Small Cap Equity ETF (FGSM) returned +16.4% over the past year, with distributions reinvested. Since its first recorded price on Dec 20, 2024 it has returned +38.3%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −17.7%, from Feb 18, 2025 to Apr 8, 2025, and it took 56 days to get back to the old high. Volatility has been 12.3% a year.
Related: FGSM chart, FGSM dividends. See the FGSM overview for the latest quote and fund facts.
FGSM performance FAQ
What is the FGSM return over the past year?
FGSM returned +16.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 14.7%.
How much would $10,000 invested in FGSM be worth?
$10,000 invested in FGSM at its first recorded close on December 20, 2024 would be worth about $13,832 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of FGSM?
The largest peak-to-trough decline was −17.7% between February 18, 2025 and April 8, 2025. It recovered to the old high on June 3, 2025, 56 days after the bottom.
How volatile is FGSM?
Over the past history FGSM had an annualized volatility of 12.3% and a Sharpe ratio of 1.28 (excess return over 1–3 month T-bills per unit of risk).