EFV vs. FNDC

Last updated Jun 18, 2026

EFV (iShares MSCI EAFE Value ETF) and FNDC (Schwab Fundamental International Small Co. Index ETF) are both exchange-traded funds - EFV is a Foreign Large Cap Equities fund tracking the MSCI EAFE Value Index (Net), while FNDC is a Foreign Small & Mid Cap Equities fund tracking the Russell RAFI Small Company Developed x US. Both are passively managed. Over the past 10 years, EFV returned 10.27%/yr vs 9.07%/yr for FNDC. Their correlation of 0.91 suggests significant overlap in exposure. EFV charges 0.31%/yr vs 0.39%/yr for FNDC.

Performance

EFV vs. FNDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EAFE Value ETF (EFV) and Schwab Fundamental International Small Co. Index ETF (FNDC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFV achieves a 10.38% return, which is significantly lower than FNDC's 11.54% return. Over the past 10 years, EFV has outperformed FNDC with an annualized return of 10.27%, while FNDC has yielded a comparatively lower 9.07% annualized return.

EFV

• 1D: -0.81%
• 1M: 0.81%
• YTD: 10.38%
• 6M: 12.23%
• 1Y: 30.17%
• 3Y*: 21.13%
• 5Y*: 13.24%
• 10Y*: 10.27%

FNDC

• 1D: -1.21%
• 1M: 0.42%
• YTD: 11.54%
• 6M: 13.40%
• 1Y: 26.82%
• 3Y*: 17.42%
• 5Y*: 8.09%
• 10Y*: 9.07%

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

EFV vs. FNDC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EFV iShares MSCI EAFE Value ETF	10.38%	42.22%	5.35%	18.85%	-5.22%	11.08%	-2.97%	15.80%	-14.67%	21.22%
FNDC Schwab Fundamental International Small Co. Index ETF	11.54%	35.65%	1.38%	14.92%	-14.71%	10.26%	6.58%	20.58%	-19.10%	29.22%

Correlation

The correlation between EFV and FNDC is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013	0.91

The correlation between EFV and FNDC has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

EFV vs. FNDC - Sectors Allocation Comparison

Sectors	EFV	FNDC
Financial Services	37.7%	11.4%
Industrials	10.4%	25.3%
Consumer Defensive	9.2%	6.1%
Healthcare	7.4%	4.8%
Energy	6.8%	4.1%
Basic Materials	6.4%	11.3%
Consumer Cyclical	6.1%	12.9%
Utilities	5.9%	2.6%
Communication Services	4.4%	4.7%
Technology	3.0%	10.1%
Real Estate	2.8%	6.6%

Return for Risk

EFV vs. FNDC — Risk / Return Rank

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

EFV

EFV Risk / Return Rank: 65
EFV Sharpe Ratio Rank: 70
EFV Sortino Ratio Rank: 69
EFV Omega Ratio Rank: 68
EFV Calmar Ratio Rank: 60
EFV Martin Ratio Rank: 61

FNDC

FNDC Risk / Return Rank: 56
FNDC Sharpe Ratio Rank: 58
FNDC Sortino Ratio Rank: 58
FNDC Omega Ratio Rank: 57
FNDC Calmar Ratio Rank: 51
FNDC Martin Ratio Rank: 54

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.

EFV vs. FNDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Value ETF (EFV) and Schwab Fundamental International Small Co. Index ETF (FNDC). 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.

	EFV	FNDC	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.82	+0.27
Sortino ratio: Return per unit of downside risk	2.89	2.56	+0.33
Omega ratio: Gain probability vs. loss probability	1.38	1.33	+0.04
Calmar ratio: Return relative to maximum drawdown	2.78	2.41	+0.38
Martin ratio: Return relative to average drawdown	10.27	8.85	+1.42

EFV vs. FNDC - Sharpe Ratio Comparison

The current EFV Sharpe Ratio is 2.09, which is comparable to the FNDC Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of EFV and FNDC, 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

EFV vs. FNDC - Drawdown Comparison

The maximum EFV drawdown since its inception was -63.94%, which is greater than FNDC's maximum drawdown of -43.22%. Use the drawdown chart below to compare losses from any high point for EFV and FNDC.

Drawdown Indicators

	EFV	FNDC	Difference
Max Drawdown Largest peak-to-trough decline	-63.94%	-43.22%	-20.72%
Max Drawdown (1Y) Largest decline over 1 year	-10.90%	-11.20%	+0.30%
Max Drawdown (3Y) Largest decline over 3 years	-13.72%	-12.98%	-0.74%
Max Drawdown (5Y) Largest decline over 5 years	-25.84%	-32.13%	+6.29%
Max Drawdown (10Y) Largest decline over 10 years	-43.16%	-43.22%	+0.06%
Current Drawdown Current decline from peak	-1.40%	-1.93%	+0.53%
Average Drawdown Average peak-to-trough decline	-14.80%	-8.43%	-6.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	3.04%	-0.10%

Volatility

EFV vs. FNDC - Volatility Comparison

The current volatility for iShares MSCI EAFE Value ETF (EFV) is 4.32%, while Schwab Fundamental International Small Co. Index ETF (FNDC) has a volatility of 5.27%. This indicates that EFV experiences smaller price fluctuations and is considered to be less risky than FNDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFV	FNDC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	5.27%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	11.96%	12.54%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	14.53%	14.82%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.03%	16.09%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.84%	16.83%	+1.01%

EFV vs. FNDC - Expense Ratio Comparison

EFV has a 0.31% expense ratio, which is lower than FNDC's 0.39% expense ratio.

Dividends

EFV vs. FNDC - Dividend Comparison

EFV's dividend yield for the trailing twelve months is around 4.76%, more than FNDC's 3.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFV iShares MSCI EAFE Value ETF	4.76%	4.16%	4.66%	4.36%	4.17%	4.07%	2.42%	4.62%	4.56%	3.56%	3.28%	3.59%
FNDC Schwab Fundamental International Small Co. Index ETF	3.46%	3.86%	3.59%	2.86%	1.98%	2.58%	1.77%	2.71%	2.68%	1.94%	1.95%	1.30%

Frequently Asked Questions

Can I hold both EFV and FNDC in my portfolio?

EFV and FNDC have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFV or FNDC?

FNDC has higher volatility (5.27%) compared to EFV (4.32%). In terms of maximum drawdown, EFV dropped -63.94% vs FNDC's -43.22%.

Which ETF is better, EFV or FNDC?

On 10-year performance, EFV leads with 10.27% vs 9.07% for FNDC. On fees, EFV is cheaper at 0.31% per year. On volatility, EFV has been the lower-risk option at 4.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFV or FNDC?

Over the 10-year period, EFV has performed better with a 10.27% return vs 9.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFV or FNDC?

EFV is cheaper with a 0.31% expense ratio, compared with 0.39% for FNDC.

Which ETF pays a higher dividend yield, EFV or FNDC?

EFV has the higher dividend yield at 4.76%, compared with 3.46% for FNDC.

What is the main difference between EFV and FNDC?

EFV is categorized as Foreign Large Cap Equities, while FNDC is Foreign Small & Mid Cap Equities. EFV tracks MSCI EAFE Value Index (Net), while FNDC tracks Russell RAFI Small Company Developed x US. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.31% for EFV and 0.39% for FNDC.

Which has better risk-adjusted returns?

EFV currently has the higher Sharpe Ratio (2.09 vs 1.82), 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.