DFLVX vs. FNDX

Last updated Aug 4, 2026

DFLVX (DFA U.S. Large Cap Value Portfolio) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both Large Cap Value Equities funds. DFLVX is actively managed, while FNDX is passively managed. Over the past 10 years, DFLVX returned 12.04%/yr vs 14.22%/yr for FNDX. Their 0.96 correlation means they have historically moved very closely together. DFLVX charges 0.22%/yr vs 0.25%/yr for FNDX.

Performance

DFLVX vs. FNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA U.S. Large Cap Value Portfolio (DFLVX) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DFLVX having a 19.19% return and FNDX slightly lower at 18.49%. Over the past 10 years, DFLVX has underperformed FNDX with an annualized return of 12.04%, while FNDX has yielded a comparatively higher 14.22% annualized return.

DFLVX

• 1D: 0.30%
• 1M: 2.21%
• 6M: 12.84%
• YTD: 19.19%
• 1Y: 33.32%
• 3Y*: 17.36%
• 5Y*: 12.20%
• 10Y*: 12.04%
• ALL TIME*: 10.40%

FNDX

• 1D: 0.79%
• 1M: 2.30%
• 6M: 12.65%
• YTD: 18.49%
• 1Y: 33.39%
• 3Y*: 19.99%
• 5Y*: 14.07%
• 10Y*: 14.22%
• ALL TIME*: 13.17%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFLVX DFA U.S. Large Cap Value Portfolio	$0.00	$0.00	$0.00
FNDX Schwab Fundamental U.S. Large Company Index ETF	$78.80M	$81.53M	$109.49M

DFLVX vs. FNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFLVX DFA U.S. Large Cap Value Portfolio	19.19%	16.36%	12.76%	11.52%	-5.81%	30.40%	-0.58%	25.46%	-11.68%	18.50%
FNDX Schwab Fundamental U.S. Large Company Index ETF	18.49%	16.94%	16.77%	18.23%	-6.92%	31.73%	9.12%	28.65%	-7.30%	17.12%

Correlation

The correlation between DFLVX and FNDX is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.96
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013	0.96

The correlation between DFLVX and FNDX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

Return for Risk

DFLVX vs. FNDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DFLVX

DFLVX Risk / Return Rank: 96
DFLVX Sharpe Ratio Rank: 97
DFLVX Sortino Ratio Rank: 95
DFLVX Omega Ratio Rank: 92
DFLVX Calmar Ratio Rank: 97
DFLVX Martin Ratio Rank: 97

FNDX

FNDX Risk / Return Rank: 96
FNDX Sharpe Ratio Rank: 97
FNDX Sortino Ratio Rank: 96
FNDX Omega Ratio Rank: 96
FNDX Calmar Ratio Rank: 95
FNDX Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DFLVX vs. FNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA U.S. Large Cap Value Portfolio (DFLVX) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DFLVX	FNDX	Difference
Sharpe ratio: Return per unit of total volatility	2.87	3.29	-0.42
Sortino ratio: Return per unit of downside risk	4.02	4.54	-0.52
Omega ratio: Gain probability vs. loss probability	1.51	1.62	-0.10
Calmar ratio: Return relative to maximum drawdown	5.47	5.53	-0.06
Martin ratio: Return relative to average drawdown	20.84	22.12	-1.28

DFLVX vs. FNDX - Sharpe Ratio Comparison

The current DFLVX Sharpe Ratio is 2.87, which is comparable to the FNDX Sharpe Ratio of 3.29. The chart below compares the historical Sharpe Ratios of DFLVX and FNDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DFLVX vs. FNDX - Drawdown Comparison

The maximum DFLVX drawdown since its inception was -65.65%, which is greater than FNDX's maximum drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for DFLVX and FNDX.

Drawdown Indicators

	DFLVX	FNDX	Difference
Max Drawdown Largest peak-to-trough decline	-65.65%	-37.72%	-27.93%
Max Drawdown (1Y) Largest decline over 1 year	-5.86%	-6.06%	+0.20%
Max Drawdown (3Y) Largest decline over 3 years	-16.64%	-16.30%	-0.34%
Max Drawdown (5Y) Largest decline over 5 years	-19.83%	-19.06%	-0.77%
Max Drawdown (10Y) Largest decline over 10 years	-41.79%	-37.72%	-4.07%
Current Drawdown Current decline from peak	-0.40%	0.00%	-0.40%
Average Drawdown Average peak-to-trough decline	-8.44%	-3.52%	-4.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	1.51%	+0.06%

Volatility

DFLVX vs. FNDX - Volatility Comparison

DFA U.S. Large Cap Value Portfolio (DFLVX) and Schwab Fundamental U.S. Large Company Index ETF (FNDX) have volatilities of 2.52% and 2.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFLVX	FNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.52%	2.44%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	8.20%	7.37%	+0.83%
Volatility (1Y) Calculated over the trailing 1-year period	11.21%	10.23%	+0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.77%	15.08%	+0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.29%	17.45%	+0.84%

DFLVX vs. FNDX - Expense Ratio Comparison

DFLVX has a 0.22% expense ratio, which is lower than FNDX's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DFLVX vs. FNDX - Dividend Comparison

DFLVX's dividend yield for the trailing twelve months is around 1.43%, which matches FNDX's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFLVX DFA U.S. Large Cap Value Portfolio	1.43%	1.71%	1.87%	3.65%	4.56%	5.90%	1.97%	4.04%	7.83%	6.06%	3.77%	6.52%
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.44%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%

Frequently Asked Questions

Can I hold both DFLVX and FNDX in my portfolio?

DFLVX and FNDX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFLVX or FNDX?

DFLVX has higher volatility (2.52%) compared to FNDX (2.44%). In terms of maximum drawdown, DFLVX dropped -65.65% vs FNDX's -37.72%.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (3.29 vs 2.87), 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.