BIGZ vs. FNDF

Last updated Jun 5, 2026

BIGZ (Blackrock Innovation & Growth Trust) is a stock, while FNDF (Schwab Fundamental International Equity ETF) is Foreign Large Cap Equities fund tracking the RAFI Fundamental High Liquidity Developed ex US Large Index (Net). Over the past 5 years, BIGZ returned -5.24%/yr vs 13.31%/yr for FNDF. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

BIGZ vs. FNDF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock Innovation & Growth Trust (BIGZ) and Schwab Fundamental International Equity ETF (FNDF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIGZ achieves a 45.04% return, which is significantly higher than FNDF's 20.97% return.

BIGZ

• 1D: -0.32%
• 1M: 13.82%
• YTD: 45.04%
• 6M: 42.93%
• 1Y: 44.54%
• 3Y*: 18.73%
• 5Y*: -5.24%
• 10Y*: —

FNDF

• 1D: -0.20%
• 1M: 5.03%
• YTD: 20.97%
• 6M: 24.09%
• 1Y: 43.94%
• 3Y*: 24.21%
• 5Y*: 13.31%
• 10Y*: 11.80%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BIGZ vs. FNDF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BIGZ Blackrock Innovation & Growth Trust	45.04%	0.86%	13.42%	19.29%	-47.76%	-24.45%
FNDF Schwab Fundamental International Equity ETF	20.97%	40.99%	2.29%	20.22%	-7.78%	3.84%

Correlation

The correlation between BIGZ and FNDF is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (All Time) Calculated using the full available price history since Mar 29, 2021	0.51

The correlation between BIGZ and FNDF shifts across timeframes, from 0.42 (1 year) to 0.52 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BIGZ vs. FNDF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BIGZ

BIGZ Risk / Return Rank: 84
BIGZ Sharpe Ratio Rank: 87
BIGZ Sortino Ratio Rank: 85
BIGZ Omega Ratio Rank: 81
BIGZ Calmar Ratio Rank: 84
BIGZ Martin Ratio Rank: 83

FNDF

FNDF Risk / Return Rank: 85
FNDF Sharpe Ratio Rank: 88
FNDF Sortino Ratio Rank: 86
FNDF Omega Ratio Rank: 86
FNDF Calmar Ratio Rank: 81
FNDF Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BIGZ vs. FNDF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock Innovation & Growth Trust (BIGZ) and Schwab Fundamental International Equity ETF (FNDF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BIGZ	FNDF	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.94	-1.06
Sortino ratio: Return per unit of downside risk	2.65	3.83	-1.18
Omega ratio: Gain probability vs. loss probability	1.31	1.52	-0.21
Calmar ratio: Return relative to maximum drawdown	3.20	4.17	-0.97
Martin ratio: Return relative to average drawdown	7.95	15.91	-7.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BIGZ vs. FNDF - Sharpe Ratio Comparison

The current BIGZ Sharpe Ratio is 1.88, which is lower than the FNDF Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of BIGZ and FNDF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BIGZ	FNDF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	2.94	-1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	0.83	-1.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.16	0.54	-0.69

Drawdowns

BIGZ vs. FNDF - Drawdown Comparison

The maximum BIGZ drawdown since its inception was -67.27%, which is greater than FNDF's maximum drawdown of -40.14%. Use the drawdown chart below to compare losses from any high point for BIGZ and FNDF.

Drawdown Indicators

	BIGZ	FNDF	Difference
Max Drawdown Largest peak-to-trough decline	-67.27%	-40.14%	-27.13%
Max Drawdown (1Y) Largest decline over 1 year	-13.99%	-10.60%	-3.39%
Max Drawdown (3Y) Largest decline over 3 years	-31.71%	-13.89%	-17.82%
Max Drawdown (5Y) Largest decline over 5 years	-63.89%	-25.56%	-38.33%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.14%	—
Current Drawdown Current decline from peak	-31.92%	-0.87%	-31.05%
Average Drawdown Average peak-to-trough decline	-49.57%	-7.64%	-41.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.62%	2.77%	+2.85%

Volatility

BIGZ vs. FNDF - Volatility Comparison

Blackrock Innovation & Growth Trust (BIGZ) has a higher volatility of 8.18% compared to Schwab Fundamental International Equity ETF (FNDF) at 5.10%. This indicates that BIGZ's price experiences larger fluctuations and is considered to be riskier than FNDF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIGZ	FNDF	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.18%	5.10%	+3.08%
Volatility (6M) Calculated over the trailing 6-month period	19.02%	12.53%	+6.49%
Volatility (1Y) Calculated over the trailing 1-year period	23.84%	15.04%	+8.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.68%	16.18%	+13.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.48%	17.67%	+11.81%

Dividends

BIGZ vs. FNDF - Dividend Comparison

BIGZ's dividend yield for the trailing twelve months is around 8.01%, more than FNDF's 2.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIGZ Blackrock Innovation & Growth Trust	8.01%	13.68%	11.21%	10.45%	14.54%	4.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FNDF Schwab Fundamental International Equity ETF	2.84%	3.44%	4.01%	3.41%	3.10%	3.54%	2.17%	3.20%	3.47%	2.32%	2.42%	2.08%

Frequently Asked Questions

Can I hold both BIGZ and FNDF in my portfolio?

BIGZ and FNDF have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIGZ or FNDF?

BIGZ has higher volatility (8.18%) compared to FNDF (5.10%). In terms of maximum drawdown, BIGZ dropped -67.27% vs FNDF's -40.14%.

Which has better risk-adjusted returns?

FNDF currently has the higher Sharpe Ratio (2.94 vs 1.88), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.