DHLX vs. FNDX

Last updated Jun 3, 2026

DHLX (Diamond Hill Large Cap Concentrated ETF) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both Large Cap Value Equities funds - DHLX tracks the Actively Managed while FNDX tracks the RAFI Fundamental High Liquidity US Large Index. Both are passively managed. A 0.69 correlation means they provide meaningful diversification when combined. DHLX charges 0.55%/yr vs 0.25%/yr for FNDX.

Performance

DHLX vs. FNDX - Performance Comparison

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

Returns By Period

In the year-to-date period, DHLX achieves a -1.10% return, which is significantly lower than FNDX's 14.72% return.

DHLX

• 1D: -0.38%
• 1M: -3.18%
• YTD: -1.10%
• 6M: 1.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNDX

• 1D: 0.52%
• 1M: 3.39%
• YTD: 14.72%
• 6M: 15.53%
• 1Y: 33.33%
• 3Y*: 20.96%
• 5Y*: 12.94%
• 10Y*: 14.28%

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

DHLX vs. FNDX - Yearly Performance Comparison

	2026 (YTD)	2025
DHLX Diamond Hill Large Cap Concentrated ETF	-1.10%	1.24%
FNDX Schwab Fundamental U.S. Large Company Index ETF	14.72%	4.01%

Correlation

The correlation between DHLX and FNDX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025	0.69

Return for Risk

DHLX vs. FNDX — Risk / Return Rank

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

FNDX

FNDX Risk / Return Rank: 91
FNDX Sharpe Ratio Rank: 91
FNDX Sortino Ratio Rank: 93
FNDX Omega Ratio Rank: 91
FNDX Calmar Ratio Rank: 90
FNDX Martin Ratio Rank: 91

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.

DHLX vs. FNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Diamond Hill Large Cap Concentrated ETF (DHLX) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DHLX	FNDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.28	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.86	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.79	-0.78

Drawdowns

DHLX vs. FNDX - Drawdown Comparison

The maximum DHLX drawdown since its inception was -8.40%, smaller than the maximum FNDX drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for DHLX and FNDX.

Drawdown Indicators

	DHLX	FNDX	Difference
Max Drawdown Largest peak-to-trough decline	-8.40%	-37.72%	+29.32%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.06%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.30%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.06%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.72%	—
Current Drawdown Current decline from peak	-4.97%	0.00%	-4.97%
Average Drawdown Average peak-to-trough decline	-2.36%	-3.55%	+1.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.55%	—

Volatility

Volatility by Period

	DHLX	FNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.37%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.27%	—
Volatility (1Y) Calculated over the trailing 1-year period	11.43%	10.21%	+1.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.43%	15.18%	-3.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.43%	17.50%	-6.07%

DHLX vs. FNDX - Expense Ratio Comparison

DHLX has a 0.55% expense ratio, which is higher than FNDX's 0.25% expense ratio.

Dividends

DHLX vs. FNDX - Dividend Comparison

DHLX's dividend yield for the trailing twelve months is around 0.41%, less than FNDX's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHLX Diamond Hill Large Cap Concentrated ETF	0.41%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.45%	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 DHLX and FNDX in my portfolio?

DHLX and FNDX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DHLX or FNDX?

On fees, FNDX is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DHLX or FNDX?

FNDX is cheaper with a 0.25% expense ratio, compared with 0.55% for DHLX.

Which ETF pays a higher dividend yield, DHLX or FNDX?

FNDX has the higher dividend yield at 1.45%, compared with 0.41% for DHLX.

What is the main difference between DHLX and FNDX?

DHLX tracks Actively Managed, while FNDX tracks RAFI Fundamental High Liquidity US Large Index. They also come from different issuers: Diamond Hill and Charles Schwab. Their fees differ too: 0.55% for DHLX and 0.25% for FNDX.