FFLV vs. SCHD

Last updated Aug 1, 2026

FFLV (Fidelity Fundamental Large Cap Value ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - FFLV is a Large Cap Value Equities fund actively managed by Fidelity, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. FFLV is actively managed, while SCHD is passively managed. Over the past year, FFLV returned 32.84% vs 31.54% for SCHD. Their correlation of 0.81 means they have usually moved in the same direction. FFLV charges 0.38%/yr vs 0.06%/yr for SCHD.

Performance

FFLV vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Large Cap Value ETF (FFLV) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFLV achieves a 18.24% return, which is significantly lower than SCHD's 24.03% return.

FFLV

• 1D: 0.67%
• 1M: 2.75%
• 6M: 13.65%
• YTD: 18.24%
• 1Y: 32.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.60%

SCHD

• 1D: 0.18%
• 1M: 3.33%
• 6M: 14.09%
• YTD: 24.03%
• 1Y: 31.54%
• 3Y*: 14.19%
• 5Y*: 9.54%
• 10Y*: 12.76%
• ALL TIME*: 13.39%

*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)
FFLV Fidelity Fundamental Large Cap Value ETF	$189.23K	$127.14K	$97.53K
SCHD Schwab U.S. Dividend Equity ETF	$786.88M	$715.86M	$685.58M

FFLV vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFLV Fidelity Fundamental Large Cap Value ETF	18.24%	16.04%	-0.71%
SCHD Schwab U.S. Dividend Equity ETF	24.03%	4.34%	9.13%

Correlation

The correlation between FFLV and SCHD is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.72
Correlation (All Time) Calculated using the full available price history since Feb 26, 2024	0.81

The correlation between FFLV and SCHD has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.

Return for Risk

FFLV vs. SCHD — Risk / Return Rank

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

FFLV

FFLV Risk / Return Rank: 94
FFLV Sharpe Ratio Rank: 95
FFLV Sortino Ratio Rank: 95
FFLV Omega Ratio Rank: 94
FFLV Calmar Ratio Rank: 93
FFLV Martin Ratio Rank: 94

SCHD

SCHD Risk / Return Rank: 95
SCHD Sharpe Ratio Rank: 96
SCHD Sortino Ratio Rank: 96
SCHD Omega Ratio Rank: 94
SCHD Calmar Ratio Rank: 96
SCHD Martin Ratio Rank: 93

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.

FFLV vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Large Cap Value ETF (FFLV) and Schwab U.S. Dividend Equity ETF (SCHD). 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.

	FFLV	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	2.80	2.81	-0.02
Sortino ratio: Return per unit of downside risk	3.98	4.37	-0.39
Omega ratio: Gain probability vs. loss probability	1.50	1.51	-0.01
Calmar ratio: Return relative to maximum drawdown	4.38	6.74	-2.36
Martin ratio: Return relative to average drawdown	17.62	17.01	+0.61

FFLV vs. SCHD - Sharpe Ratio Comparison

The current FFLV Sharpe Ratio is 2.80, which is comparable to the SCHD Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of FFLV and SCHD, 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

FFLV vs. SCHD - Drawdown Comparison

The maximum FFLV drawdown since its inception was -16.71%, smaller than the maximum SCHD drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for FFLV and SCHD.

Drawdown Indicators

	FFLV	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-16.71%	-33.37%	+16.66%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-4.61%	-2.63%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.13%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.37%	—
Current Drawdown Current decline from peak	0.00%	-1.24%	+1.24%
Average Drawdown Average peak-to-trough decline	-3.38%	-3.30%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	1.82%	-0.02%

Volatility

FFLV vs. SCHD - Volatility Comparison

The current volatility for Fidelity Fundamental Large Cap Value ETF (FFLV) is 2.85%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 4.11%. This indicates that FFLV experiences smaller price fluctuations and is considered to be less risky than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFLV	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	4.11%	-1.26%
Volatility (6M) Calculated over the trailing 6-month period	8.33%	8.11%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	11.42%	11.13%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.94%	14.39%	+0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.94%	16.72%	-1.78%

FFLV vs. SCHD - Expense Ratio Comparison

FFLV has a 0.38% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

FFLV vs. SCHD - Dividend Comparison

FFLV's dividend yield for the trailing twelve months is around 1.36%, less than SCHD's 3.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFLV Fidelity Fundamental Large Cap Value ETF	1.36%	1.60%	1.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHD Schwab U.S. Dividend Equity ETF	3.13%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%

Frequently Asked Questions

Can I hold both FFLV and SCHD in my portfolio?

FFLV and SCHD have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFLV or SCHD?

SCHD has higher volatility (4.11%) compared to FFLV (2.85%). In terms of maximum drawdown, FFLV dropped -16.71% vs SCHD's -33.37%.

Which ETF is better, FFLV or SCHD?

On 1-year performance, FFLV leads with 32.84% vs 31.54% for SCHD. On fees, SCHD is cheaper at 0.06% per year. On volatility, FFLV has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFLV or SCHD?

Over the 1-year period, FFLV has performed better with a 32.84% return vs 31.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFLV or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.38% for FFLV.

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

SCHD has the higher dividend yield at 3.13%, compared with 1.36% for FFLV.

What is the main difference between FFLV and SCHD?

FFLV is categorized as Large Cap Value Equities, while SCHD is Dividend. They also come from different issuers: Fidelity and Charles Schwab. Their fees differ too: 0.38% for FFLV and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.81 vs 2.80), 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.