DFEM vs. FNDE

Last updated Apr 1, 2026

Compare and contrast key facts about Dimensional Emerging Markets Core Equity 2 ETF (DFEM) and Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE).

DFEM and FNDE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DFEM is an actively managed fund by Dimensional. It was launched on Apr 26, 2022. FNDE is a passively managed fund by Charles Schwab that tracks the performance of the Russell Fundamental Emerging Markets Large Company Index. It was launched on Aug 15, 2013.

Performance

DFEM vs. FNDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Emerging Markets Core Equity 2 ETF (DFEM) and Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE). The values are adjusted to include any dividend payments, if applicable.

DFEM vs. FNDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFEM Dimensional Emerging Markets Core Equity 2 ETF	4.58%	29.51%	7.53%	13.91%	-8.69%
FNDE Schwab Fundamental Emerging Markets Large Company Index ETF	6.10%	29.46%	12.10%	14.99%	-4.06%

Returns By Period

In the year-to-date period, DFEM achieves a 4.58% return, which is significantly lower than FNDE's 6.10% return.

DFEM

• 1D: 3.38%
• 1M: -8.36%
• YTD: 4.58%
• 6M: 8.55%
• 1Y: 33.76%
• 3Y*: 16.41%
• 5Y*: —
• 10Y*: —

FNDE

• 1D: 2.71%
• 1M: -5.06%
• YTD: 6.10%
• 6M: 9.65%
• 1Y: 29.56%
• 3Y*: 18.98%
• 5Y*: 9.51%
• 10Y*: 10.24%

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

DFEM vs. FNDE - Expense Ratio Comparison

Both DFEM and FNDE have an expense ratio of 0.39%.

DFEM

Dimensional Emerging Markets Core Equity 2 ETF

FNDE

Schwab Fundamental Emerging Markets Large Company Index ETF

Return for Risk

DFEM vs. FNDE — Risk / Return Rank

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

DFEM

DFEM Risk / Return Rank: 88
DFEM Sharpe Ratio Rank: 87
DFEM Sortino Ratio Rank: 88
DFEM Omega Ratio Rank: 88
DFEM Calmar Ratio Rank: 88
DFEM Martin Ratio Rank: 88

FNDE

FNDE Risk / Return Rank: 85
FNDE Sharpe Ratio Rank: 85
FNDE Sortino Ratio Rank: 86
FNDE Omega Ratio Rank: 87
FNDE Calmar Ratio Rank: 82
FNDE Martin Ratio Rank: 86

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.

DFEM vs. FNDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Markets Core Equity 2 ETF (DFEM) and Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE). 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.

	DFEM	FNDE	Difference
Sharpe ratio Return per unit of total volatility	1.78	1.67	+0.11
Sortino ratio Return per unit of downside risk	2.36	2.25	+0.12
Omega ratio Gain probability vs. loss probability	1.35	1.34	+0.01
Calmar ratio Return relative to maximum drawdown	2.69	2.16	+0.53
Martin ratio Return relative to average drawdown	10.49	9.71	+0.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFEM vs. FNDE - Sharpe Ratio Comparison

The current DFEM Sharpe Ratio is 1.78, which is comparable to the FNDE Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of DFEM and FNDE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DFEM	FNDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	1.67	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.57	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.34	+0.33

Correlation

The correlation between DFEM and FNDE is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DFEM vs. FNDE - Dividend Comparison

DFEM's dividend yield for the trailing twelve months is around 2.18%, less than FNDE's 3.94% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFEM Dimensional Emerging Markets Core Equity 2 ETF	2.18%	2.32%	2.50%	2.38%	1.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FNDE Schwab Fundamental Emerging Markets Large Company Index ETF	3.94%	4.19%	4.82%	4.74%	5.59%	4.32%	2.50%	3.47%	2.98%	2.05%	1.65%	2.02%

Drawdowns

DFEM vs. FNDE - Drawdown Comparison

The maximum DFEM drawdown since its inception was -20.82%, smaller than the maximum FNDE drawdown of -43.55%. Use the drawdown chart below to compare losses from any high point for DFEM and FNDE.

Drawdown Indicators

	DFEM	FNDE	Difference
Max Drawdown Largest peak-to-trough decline	-20.82%	-43.55%	+22.73%
Max Drawdown (1Y) Largest decline over 1 year	-12.29%	-13.72%	+1.43%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.44%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.93%	—
Current Drawdown Current decline from peak	-9.15%	-6.41%	-2.74%
Average Drawdown Average peak-to-trough decline	-5.16%	-11.84%	+6.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	3.06%	+0.10%

Volatility

DFEM vs. FNDE - Volatility Comparison

Dimensional Emerging Markets Core Equity 2 ETF (DFEM) has a higher volatility of 10.03% compared to Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE) at 7.66%. This indicates that DFEM's price experiences larger fluctuations and is considered to be riskier than FNDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFEM	FNDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.03%	7.66%	+2.37%
Volatility (6M) Calculated over the trailing 6-month period	13.86%	11.93%	+1.93%
Volatility (1Y) Calculated over the trailing 1-year period	19.09%	17.79%	+1.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.80%	16.87%	-0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.80%	19.41%	-2.61%