FFLV vs. FNDX

Last updated Jun 4, 2026

FFLV (Fidelity Fundamental Large Cap Value ETF) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both Large Cap Value Equities funds. FFLV is actively managed, while FNDX is passively managed. Over the past year, FFLV returned 27.22% vs 32.32% for FNDX. Their correlation of 0.93 suggests significant overlap in exposure. FFLV charges 0.38%/yr vs 0.25%/yr for FNDX.

Performance

FFLV vs. FNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Large Cap Value ETF (FFLV) 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, FFLV achieves a 11.22% return, which is significantly lower than FNDX's 14.57% return.

FFLV

• 1D: -0.24%
• 1M: 2.24%
• YTD: 11.22%
• 6M: 12.86%
• 1Y: 27.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNDX

• 1D: -0.13%
• 1M: 3.88%
• YTD: 14.57%
• 6M: 14.58%
• 1Y: 32.32%
• 3Y*: 20.90%
• 5Y*: 12.82%
• 10Y*: 14.26%

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

FFLV vs. FNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFLV Fidelity Fundamental Large Cap Value ETF	11.22%	16.04%	8.04%
FNDX Schwab Fundamental U.S. Large Company Index ETF	14.57%	16.94%	12.65%

Correlation

The correlation between FFLV and FNDX is 0.94, 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	0.94
Correlation (All Time) Calculated using the full available price history since Feb 27, 2024	0.93

The correlation between FFLV and FNDX has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

Return for Risk

FFLV vs. FNDX — Risk / Return Rank

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

FFLV

FFLV Risk / Return Rank: 74
FFLV Sharpe Ratio Rank: 73
FFLV Sortino Ratio Rank: 76
FFLV Omega Ratio Rank: 70
FFLV Calmar Ratio Rank: 74
FFLV Martin Ratio Rank: 76

FNDX

FNDX Risk / Return Rank: 90
FNDX Sharpe Ratio Rank: 90
FNDX Sortino Ratio Rank: 91
FNDX Omega Ratio Rank: 90
FNDX Calmar Ratio Rank: 89
FNDX Martin Ratio Rank: 90

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.

FFLV vs. FNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Large Cap Value ETF (FFLV) 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.

	FFLV	FNDX	Difference
Sharpe ratio: Return per unit of total volatility	2.41	3.18	-0.78
Sortino ratio: Return per unit of downside risk	3.48	4.47	-0.98
Omega ratio: Gain probability vs. loss probability	1.43	1.59	-0.16
Calmar ratio: Return relative to maximum drawdown	3.78	5.35	-1.58
Martin ratio: Return relative to average drawdown	14.71	20.97	-6.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFLV vs. FNDX - Sharpe Ratio Comparison

The current FFLV Sharpe Ratio is 2.41, which is comparable to the FNDX Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of FFLV 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.

Sharpe Ratios by Period

	FFLV	FNDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	3.18	-0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.85	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	0.79	+0.32

Drawdowns

FFLV vs. FNDX - Drawdown Comparison

The maximum FFLV drawdown since its inception was -16.71%, smaller than the maximum FNDX drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for FFLV and FNDX.

Drawdown Indicators

	FFLV	FNDX	Difference
Max Drawdown Largest peak-to-trough decline	-16.71%	-37.72%	+21.01%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-6.06%	-1.18%
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	-0.27%	-0.13%	-0.14%
Average Drawdown Average peak-to-trough decline	-3.00%	-3.55%	+0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	1.55%	+0.31%

Volatility

FFLV vs. FNDX - Volatility Comparison

Fidelity Fundamental Large Cap Value ETF (FFLV) has a higher volatility of 2.79% compared to Schwab Fundamental U.S. Large Company Index ETF (FNDX) at 2.25%. This indicates that FFLV's price experiences larger fluctuations and is considered to be riskier than FNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFLV	FNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	2.25%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	8.40%	7.25%	+1.15%
Volatility (1Y) Calculated over the trailing 1-year period	11.38%	10.22%	+1.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.22%	15.18%	-0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.22%	17.50%	-3.28%

FFLV vs. FNDX - Expense Ratio Comparison

FFLV has a 0.38% expense ratio, which is higher than FNDX's 0.25% expense ratio.

Dividends

FFLV vs. FNDX - Dividend Comparison

FFLV's dividend yield for the trailing twelve months is around 1.46%, which matches FNDX's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFLV Fidelity Fundamental Large Cap Value ETF	1.46%	1.60%	1.46%	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 FFLV and FNDX in my portfolio?

With a correlation of 0.94, FFLV and FNDX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FFLV or FNDX?

FFLV has higher volatility (2.79%) compared to FNDX (2.25%). In terms of maximum drawdown, FFLV dropped -16.71% vs FNDX's -37.72%.

Which ETF is better, FFLV or FNDX?

On 1-year performance, FNDX leads with 32.32% vs 27.22% for FFLV. On fees, FNDX is cheaper at 0.25% per year. On volatility, FNDX has been the lower-risk option at 2.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFLV or FNDX?

Over the 1-year period, FNDX has performed better with a 32.32% return vs 27.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFLV or FNDX?

FNDX is cheaper with a 0.25% expense ratio, compared with 0.38% for FFLV.

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

FFLV and FNDX have nearly identical dividend yields, around 1.46%.

What is the main difference between FFLV and FNDX?

They also come from different issuers: Fidelity and Charles Schwab. Their fees differ too: 0.38% for FFLV and 0.25% for FNDX.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (3.18 vs 2.41), 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.