DFESX vs. FNDE

Last updated Jun 4, 2026

DFESX (DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio) and FNDE (Schwab Fundamental Emerging Markets Large Company Index ETF) are both funds - DFESX is a Emerging Markets Diversified fund managed by T. Rowe Price, while FNDE is a Emerging Markets Equities fund tracking the Russell Fundamental Emerging Markets Large Company Index. Over the past 10 years, DFESX returned 11.15%/yr vs 11.28%/yr for FNDE. Their correlation of 0.88 suggests significant overlap in exposure. DFESX charges 0.45%/yr vs 0.39%/yr for FNDE.

Performance

DFESX vs. FNDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio (DFESX) and Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFESX achieves a 28.96% return, which is significantly higher than FNDE's 15.56% return. Both investments have delivered pretty close results over the past 10 years, with DFESX having a 11.15% annualized return and FNDE not far ahead at 11.28%.

DFESX

• 1D: 0.85%
• 1M: 10.14%
• YTD: 28.96%
• 6M: 31.90%
• 1Y: 54.42%
• 3Y*: 24.24%
• 5Y*: 9.44%
• 10Y*: 11.15%

FNDE

• 1D: -1.61%
• 1M: 3.09%
• YTD: 15.56%
• 6M: 16.15%
• 1Y: 36.88%
• 3Y*: 21.61%
• 5Y*: 9.57%
• 10Y*: 11.28%

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

DFESX vs. FNDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFESX DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio	28.96%	29.95%	7.16%	14.58%	-18.49%	4.16%	12.99%	17.12%	-14.87%	37.30%
FNDE Schwab Fundamental Emerging Markets Large Company Index ETF	15.56%	29.46%	12.10%	14.99%	-15.58%	14.41%	-2.77%	19.75%	-10.37%	26.77%

Correlation

The correlation between DFESX and FNDE is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Aug 16, 2013	0.88

The correlation between DFESX and FNDE has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.

Return for Risk

DFESX vs. FNDE — Risk / Return Rank

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

DFESX

DFESX Risk / Return Rank: 90
DFESX Sharpe Ratio Rank: 95
DFESX Sortino Ratio Rank: 90
DFESX Omega Ratio Rank: 90
DFESX Calmar Ratio Rank: 88
DFESX Martin Ratio Rank: 88

FNDE

FNDE Risk / Return Rank: 72
FNDE Sharpe Ratio Rank: 74
FNDE Sortino Ratio Rank: 71
FNDE Omega Ratio Rank: 74
FNDE Calmar Ratio Rank: 72
FNDE Martin Ratio Rank: 72

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.

DFESX vs. FNDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio (DFESX) 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.

	DFESX	FNDE	Difference
Sharpe ratio Return per unit of total volatility	3.39	2.47	+0.92
Sortino ratio Return per unit of downside risk	4.34	3.28	+1.06
Omega ratio Gain probability vs. loss probability	1.64	1.45	+0.19
Calmar ratio Return relative to maximum drawdown	4.33	3.62	+0.71
Martin ratio Return relative to average drawdown	17.30	13.71	+3.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFESX vs. FNDE - Sharpe Ratio Comparison

The current DFESX Sharpe Ratio is 3.39, which is higher than the FNDE Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of DFESX and FNDE, 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

	DFESX	FNDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.39	2.47	+0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.57	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.59	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.38	+0.12

Drawdowns

DFESX vs. FNDE - Drawdown Comparison

The maximum DFESX drawdown since its inception was -41.43%, roughly equal to the maximum FNDE drawdown of -43.55%. Use the drawdown chart below to compare losses from any high point for DFESX and FNDE.

Drawdown Indicators

	DFESX	FNDE	Difference
Max Drawdown Largest peak-to-trough decline	-41.43%	-43.55%	+2.12%
Max Drawdown (1Y) Largest decline over 1 year	-12.79%	-10.23%	-2.56%
Max Drawdown (3Y) Largest decline over 3 years	-16.53%	-18.40%	+1.87%
Max Drawdown (5Y) Largest decline over 5 years	-32.64%	-29.44%	-3.20%
Max Drawdown (10Y) Largest decline over 10 years	-41.43%	-39.93%	-1.50%
Current Drawdown Current decline from peak	0.00%	-1.61%	+1.61%
Average Drawdown Average peak-to-trough decline	-10.76%	-11.71%	+0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	2.70%	+0.48%

Volatility

DFESX vs. FNDE - Volatility Comparison

DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio (DFESX) has a higher volatility of 7.18% compared to Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE) at 5.34%. This indicates that DFESX'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

	DFESX	FNDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.18%	5.34%	+1.84%
Volatility (6M) Calculated over the trailing 6-month period	14.26%	12.30%	+1.96%
Volatility (1Y) Calculated over the trailing 1-year period	16.35%	15.00%	+1.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.10%	16.91%	-1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.10%	19.30%	-3.20%

DFESX vs. FNDE - Expense Ratio Comparison

DFESX has a 0.45% expense ratio, which is higher than FNDE's 0.39% expense ratio.

Dividends

DFESX vs. FNDE - Dividend Comparison

DFESX's dividend yield for the trailing twelve months is around 2.13%, less than FNDE's 3.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFESX DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio	2.13%	2.59%	3.15%	3.23%	3.17%	2.37%	1.64%	2.33%	2.37%	2.04%	2.05%	2.17%
FNDE Schwab Fundamental Emerging Markets Large Company Index ETF	3.62%	4.19%	4.82%	4.74%	5.59%	4.32%	2.50%	3.47%	2.98%	2.05%	1.65%	2.02%

Frequently Asked Questions

Can I hold both DFESX and FNDE in my portfolio?

DFESX and FNDE have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFESX or FNDE?

DFESX has higher volatility (7.18%) compared to FNDE (5.34%). In terms of maximum drawdown, DFESX dropped -41.43% vs FNDE's -43.55%.

Which has better risk-adjusted returns?

DFESX currently has the higher Sharpe Ratio (3.39 vs 2.47), 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.