COBYX vs. SFENX

Last updated Jun 5, 2026

COBYX (The Cook & Bynum Fund) and SFENX (Schwab Fundamental Emerging Markets Large Company Index Fund) are both Emerging Markets Diversified funds. Over the past 10 years, COBYX returned 4.70%/yr vs 11.30%/yr for SFENX. A 0.53 correlation means they provide meaningful diversification when combined. COBYX charges 1.49%/yr vs 0.39%/yr for SFENX.

Performance

COBYX vs. SFENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Cook & Bynum Fund (COBYX) and Schwab Fundamental Emerging Markets Large Company Index Fund (SFENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COBYX achieves a 9.83% return, which is significantly lower than SFENX's 15.78% return. Over the past 10 years, COBYX has underperformed SFENX with an annualized return of 4.70%, while SFENX has yielded a comparatively higher 11.30% annualized return.

COBYX

• 1D: -0.82%
• 1M: 0.68%
• YTD: 9.83%
• 6M: 12.54%
• 1Y: 14.12%
• 3Y*: 8.68%
• 5Y*: 7.72%
• 10Y*: 4.70%

SFENX

• 1D: -1.28%
• 1M: 2.34%
• YTD: 15.78%
• 6M: 16.43%
• 1Y: 36.57%
• 3Y*: 21.86%
• 5Y*: 9.63%
• 10Y*: 11.30%

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

COBYX vs. SFENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COBYX The Cook & Bynum Fund	9.83%	20.50%	-10.32%	16.73%	9.28%	9.05%	-10.97%	9.40%	-13.40%	15.12%
SFENX Schwab Fundamental Emerging Markets Large Company Index Fund	15.78%	29.19%	12.31%	14.90%	-15.50%	13.91%	-3.01%	19.46%	-9.96%	26.44%

Correlation

The correlation between COBYX and SFENX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.53

The correlation between COBYX and SFENX shifts across timeframes, from 0.41 (1 year) to 0.53 (all time), reflecting how their relationship changes across market environments.

Return for Risk

COBYX vs. SFENX — Risk / Return Rank

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

COBYX

COBYX Risk / Return Rank: 19
COBYX Sharpe Ratio Rank: 18
COBYX Sortino Ratio Rank: 19
COBYX Omega Ratio Rank: 18
COBYX Calmar Ratio Rank: 20
COBYX Martin Ratio Rank: 20

SFENX

SFENX Risk / Return Rank: 80
SFENX Sharpe Ratio Rank: 85
SFENX Sortino Ratio Rank: 78
SFENX Omega Ratio Rank: 78
SFENX Calmar Ratio Rank: 84
SFENX Martin Ratio Rank: 77

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.

COBYX vs. SFENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Cook & Bynum Fund (COBYX) and Schwab Fundamental Emerging Markets Large Company Index Fund (SFENX). 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.

	COBYX	SFENX	Difference
Sharpe ratio: Return per unit of total volatility	1.21	2.81	-1.60
Sortino ratio: Return per unit of downside risk	1.82	3.77	-1.95
Omega ratio: Gain probability vs. loss probability	1.22	1.51	-0.30
Calmar ratio: Return relative to maximum drawdown	1.59	3.96	-2.37
Martin ratio: Return relative to average drawdown	5.05	14.49	-9.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COBYX vs. SFENX - Sharpe Ratio Comparison

The current COBYX Sharpe Ratio is 1.21, which is lower than the SFENX Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of COBYX and SFENX, 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

	COBYX	SFENX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	2.81	-1.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.63	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.67	-0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.44	-0.05

Drawdowns

COBYX vs. SFENX - Drawdown Comparison

The maximum COBYX drawdown since its inception was -34.18%, smaller than the maximum SFENX drawdown of -47.19%. Use the drawdown chart below to compare losses from any high point for COBYX and SFENX.

Drawdown Indicators

	COBYX	SFENX	Difference
Max Drawdown Largest peak-to-trough decline	-34.18%	-47.19%	+13.01%
Max Drawdown (1Y) Largest decline over 1 year	-8.95%	-9.45%	+0.50%
Max Drawdown (3Y) Largest decline over 3 years	-16.29%	-16.51%	+0.22%
Max Drawdown (5Y) Largest decline over 5 years	-17.10%	-29.26%	+12.16%
Max Drawdown (10Y) Largest decline over 10 years	-34.18%	-39.59%	+5.41%
Current Drawdown Current decline from peak	-1.93%	-1.28%	-0.65%
Average Drawdown Average peak-to-trough decline	-6.80%	-12.88%	+6.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	2.58%	+0.41%

Volatility

COBYX vs. SFENX - Volatility Comparison

The current volatility for The Cook & Bynum Fund (COBYX) is 3.71%, while Schwab Fundamental Emerging Markets Large Company Index Fund (SFENX) has a volatility of 4.78%. This indicates that COBYX experiences smaller price fluctuations and is considered to be less risky than SFENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COBYX	SFENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.71%	4.78%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	9.51%	10.80%	-1.29%
Volatility (1Y) Calculated over the trailing 1-year period	11.81%	13.34%	-1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.99%	15.41%	-1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.64%	16.92%	-3.28%

COBYX vs. SFENX - Expense Ratio Comparison

COBYX has a 1.49% expense ratio, which is higher than SFENX's 0.39% expense ratio.

Dividends

COBYX vs. SFENX - Dividend Comparison

COBYX's dividend yield for the trailing twelve months is around 1.07%, less than SFENX's 3.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COBYX The Cook & Bynum Fund	1.07%	1.18%	0.00%	1.01%	1.16%	2.18%	0.32%	0.69%	12.60%	1.88%	5.09%	0.00%
SFENX Schwab Fundamental Emerging Markets Large Company Index Fund	3.40%	3.93%	4.67%	5.00%	5.46%	4.61%	2.95%	3.82%	2.90%	2.37%	2.16%	3.23%

Frequently Asked Questions

Can I hold both COBYX and SFENX in my portfolio?

COBYX and SFENX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COBYX or SFENX?

SFENX has higher volatility (4.78%) compared to COBYX (3.71%). In terms of maximum drawdown, COBYX dropped -34.18% vs SFENX's -47.19%.

Which has better risk-adjusted returns?

SFENX currently has the higher Sharpe Ratio (2.81 vs 1.21), 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.