FNDA vs. FNDE

Last updated Jun 14, 2026

FNDA (Schwab Fundamental US Small Co. Index ETF) and FNDE (Schwab Fundamental Emerging Markets Equity ETF) are both exchange-traded funds - FNDA is a Small Cap Blend Equities fund tracking the Russell RAFI Small Company US, while FNDE is a Emerging Markets Equities fund tracking the RAFI Fundamental High Liquidity Emerging Markets Index (Net). Both are passively managed. Over the past 10 years, FNDA returned 11.35%/yr vs 11.35%/yr for FNDE. A 0.61 correlation means they provide meaningful diversification when combined. FNDA charges 0.25%/yr vs 0.39%/yr for FNDE.

Performance

FNDA vs. FNDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental US Small Co. Index ETF (FNDA) and Schwab Fundamental Emerging Markets Equity ETF (FNDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNDA achieves a 18.31% return, which is significantly higher than FNDE's 13.70% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: FNDA at 11.35% and FNDE at 11.35%.

FNDA

• 1D: 0.95%
• 1M: 6.65%
• YTD: 18.31%
• 6M: 15.70%
• 1Y: 35.41%
• 3Y*: 15.56%
• 5Y*: 7.49%
• 10Y*: 11.35%

FNDE

• 1D: 0.66%
• 1M: 2.02%
• YTD: 13.70%
• 6M: 15.79%
• 1Y: 31.37%
• 3Y*: 19.78%
• 5Y*: 9.29%
• 10Y*: 11.35%

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

FNDA vs. FNDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNDA Schwab Fundamental US Small Co. Index ETF	18.31%	7.44%	9.00%	20.29%	-14.83%	31.12%	8.44%	24.34%	-12.12%	12.68%
FNDE Schwab Fundamental Emerging Markets Equity ETF	13.70%	29.46%	12.10%	14.99%	-15.58%	14.41%	-2.77%	19.75%	-10.37%	26.77%

Correlation

The correlation between FNDA and FNDE is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013	0.61

The correlation between FNDA and FNDE has been stable across timeframes, ranging from 0.57 to 0.61 - a consistent structural relationship.

FNDA vs. FNDE - Sectors Allocation Comparison

Sectors	FNDA	FNDE
Industrials	19.3%	3.6%
Technology	16.2%	23.3%
Financial Services	14.1%	16.2%
Consumer Cyclical	12.2%	8.1%
Real Estate	9.8%	1.5%
Healthcare	7.1%	1.1%
Energy	5.5%	10.4%
Basic Materials	5.2%	8.1%
Communication Services	4.0%	3.5%
Consumer Defensive	3.9%	1.2%
Utilities	2.7%	1.9%

Return for Risk

FNDA vs. FNDE — Risk / Return Rank

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

FNDA

FNDA Risk / Return Rank: 70
FNDA Sharpe Ratio Rank: 68
FNDA Sortino Ratio Rank: 69
FNDA Omega Ratio Rank: 62
FNDA Calmar Ratio Rank: 78
FNDA Martin Ratio Rank: 71

FNDE

FNDE Risk / Return Rank: 67
FNDE Sharpe Ratio Rank: 68
FNDE Sortino Ratio Rank: 65
FNDE Omega Ratio Rank: 69
FNDE Calmar Ratio Rank: 67
FNDE Martin Ratio Rank: 67

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.

FNDA vs. FNDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental US Small Co. Index ETF (FNDA) and Schwab Fundamental Emerging Markets Equity ETF (FNDE). 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.

	FNDA	FNDE	Difference
Sharpe ratio: Return per unit of total volatility	1.91	1.92	-0.01
Sortino ratio: Return per unit of downside risk	2.73	2.58	+0.15
Omega ratio: Gain probability vs. loss probability	1.33	1.35	-0.03
Calmar ratio: Return relative to maximum drawdown	3.54	2.93	+0.61
Martin ratio: Return relative to average drawdown	11.47	10.67	+0.80

FNDA vs. FNDE - Sharpe Ratio Comparison

The current FNDA Sharpe Ratio is 1.91, which is comparable to the FNDE Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of FNDA and FNDE, 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

FNDA vs. FNDE - Drawdown Comparison

The maximum FNDA drawdown since its inception was -44.64%, roughly equal to the maximum FNDE drawdown of -43.55%. Use the drawdown chart below to compare losses from any high point for FNDA and FNDE.

Drawdown Indicators

	FNDA	FNDE	Difference
Max Drawdown Largest peak-to-trough decline	-44.64%	-43.55%	-1.09%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-10.23%	+0.87%
Max Drawdown (3Y) Largest decline over 3 years	-25.92%	-18.40%	-7.52%
Max Drawdown (5Y) Largest decline over 5 years	-25.92%	-29.44%	+3.52%
Max Drawdown (10Y) Largest decline over 10 years	-44.64%	-39.93%	-4.71%
Current Drawdown Current decline from peak	0.00%	-3.19%	+3.19%
Average Drawdown Average peak-to-trough decline	-6.68%	-11.69%	+5.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	2.80%	+0.09%

Volatility

FNDA vs. FNDE - Volatility Comparison

The current volatility for Schwab Fundamental US Small Co. Index ETF (FNDA) is 5.14%, while Schwab Fundamental Emerging Markets Equity ETF (FNDE) has a volatility of 6.30%. This indicates that FNDA experiences smaller price fluctuations and is considered to be less risky than FNDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDA	FNDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	6.30%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	12.13%	13.07%	-0.94%
Volatility (1Y) Calculated over the trailing 1-year period	17.40%	15.61%	+1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.93%	17.01%	+3.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.39%	19.30%	+3.09%

FNDA vs. FNDE - Expense Ratio Comparison

FNDA has a 0.25% expense ratio, which is lower than FNDE's 0.39% expense ratio.

Dividends

FNDA vs. FNDE - Dividend Comparison

FNDA's dividend yield for the trailing twelve months is around 1.06%, less than FNDE's 3.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDA Schwab Fundamental US Small Co. Index ETF	1.06%	1.22%	1.53%	1.37%	1.38%	1.15%	1.31%	1.38%	1.64%	1.30%	1.18%	1.33%
FNDE Schwab Fundamental Emerging Markets Equity ETF	3.68%	4.19%	4.82%	4.74%	5.59%	4.32%	2.50%	3.47%	2.98%	2.05%	1.65%	2.02%

Frequently Asked Questions

Can I hold both FNDA and FNDE in my portfolio?

FNDA and FNDE have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNDA or FNDE?

FNDE has higher volatility (6.30%) compared to FNDA (5.14%). In terms of maximum drawdown, FNDA dropped -44.64% vs FNDE's -43.55%.

Which ETF is better, FNDA or FNDE?

On 10-year performance, FNDE leads with 11.35% vs 11.35% for FNDA. On fees, FNDA is cheaper at 0.25% per year. On volatility, FNDA has been the lower-risk option at 5.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNDA or FNDE?

Over the 10-year period, FNDE has performed better with a 11.35% return vs 11.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNDA or FNDE?

FNDA is cheaper with a 0.25% expense ratio, compared with 0.39% for FNDE.

Which ETF pays a higher dividend yield, FNDA or FNDE?

FNDE has the higher dividend yield at 3.68%, compared with 1.06% for FNDA.

What is the main difference between FNDA and FNDE?

FNDA is categorized as Small Cap Blend Equities, while FNDE is Emerging Markets Equities. FNDA tracks Russell RAFI Small Company US, while FNDE tracks RAFI Fundamental High Liquidity Emerging Markets Index (Net). Their fees differ too: 0.25% for FNDA and 0.39% for FNDE.

Which has better risk-adjusted returns?

FNDE currently has the higher Sharpe Ratio (1.92 vs 1.91), 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.