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FNDA vs. IJR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FNDA vs. IJR

Last updated Jun 25, 2026

FNDA (Schwab Fundamental US Small Co. Index ETF) and IJR (iShares Core S&P Small-Cap ETF) are both Small Cap Blend Equities funds - FNDA tracks the Russell RAFI Small Company US while IJR tracks the S&P SmallCap 600 Index. Both are passively managed. Over the past 10 years, FNDA returned 11.49%/yr vs 11.43%/yr for IJR. With a 0.98 correlation, they move nearly in lockstep. FNDA charges 0.25%/yr vs 0.06%/yr for IJR.

Performance

FNDA vs. IJR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental US Small Co. Index ETF (FNDA) and iShares Core S&P Small-Cap ETF (IJR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FNDA achieves a 17.96% return, which is significantly lower than IJR's 20.72% return. Both investments have delivered pretty close results over the past 10 years, with FNDA having a 11.49% annualized return and IJR not far behind at 11.43%.

FNDA

1D
0.79%
1M
3.92%
YTD
17.96%
6M
15.68%
1Y
31.65%
3Y*
16.90%
5Y*
7.55%
10Y*
11.49%

IJR

1D
1.16%
1M
5.43%
YTD
20.72%
6M
17.82%
1Y
34.67%
3Y*
16.60%
5Y*
6.51%
10Y*
11.43%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FNDA vs. IJR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FNDA
Schwab Fundamental US Small Co. Index ETF		17.96%7.44%9.00%20.29%-14.83%31.12%8.44%24.34%-12.12%12.68%
IJR
iShares Core S&P Small-Cap ETF		20.72%5.89%8.63%16.06%-16.20%26.58%11.28%22.82%-8.51%13.15%

Correlation

The correlation between FNDA and IJR is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.99

Correlation (3Y)
Calculated over the trailing 3-year period

0.99

Correlation (5Y)
Calculated over the trailing 5-year period

0.99

Correlation (10Y)
Calculated over the trailing 10-year period

0.98

Correlation (All Time)
Calculated using the full available price history since Aug 15, 2013

0.98

The correlation between FNDA and IJR has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

FNDA vs. IJR - Sectors Allocation Comparison

Sectors
FNDA
IJR

Industrials

19.3%
16.0%

Technology

16.2%
15.9%

Financial Services

14.1%
16.0%

Consumer Cyclical

12.2%
12.5%

Real Estate

9.8%
7.5%

Healthcare

7.1%
11.0%

Energy

5.5%
6.8%

Basic Materials

5.2%
4.7%

Communication Services

4.0%
3.2%

Consumer Defensive

3.9%
3.2%

Utilities

2.7%
1.9%

Industrials

FNDA
19.3%
IJR
16.0%

Technology

FNDA
16.2%
IJR
15.9%

Financial Services

FNDA
14.1%
IJR
16.0%

Consumer Cyclical

FNDA
12.2%
IJR
12.5%

Real Estate

FNDA
9.8%
IJR
7.5%

Healthcare

FNDA
7.1%
IJR
11.0%

Energy

FNDA
5.5%
IJR
6.8%

Basic Materials

FNDA
5.2%
IJR
4.7%

Communication Services

FNDA
4.0%
IJR
3.2%

Consumer Defensive

FNDA
3.9%
IJR
3.2%

Utilities

FNDA
2.7%
IJR
1.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Schwab Fundamental US Small Co. Index ETF

iShares Core S&P Small-Cap ETF

Often compared with FNDA:
FNDA vs. SCHAFNDA vs. FNDCFNDA vs. VBKFNDA vs. IFRAFNDA vs. SPYFNDA vs. IGFFNDA vs. LRGF
Often compared with IJR:
IJR vs. IWMIJR vs. VBIJR vs. AVUVIJR vs. IJHIJR vs. IJSIJR vs. SCHAIJR vs. VBR

Return for Risk

FNDA vs. IJR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FNDA
FNDA Risk / Return Rank: 6565
Overall Rank
FNDA Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
FNDA Sortino Ratio Rank: 6565
Sortino Ratio Rank
FNDA Omega Ratio Rank: 5757
Omega Ratio Rank
FNDA Calmar Ratio Rank: 7474
Calmar Ratio Rank
FNDA Martin Ratio Rank: 6767
Martin Ratio Rank
IJR
IJR Risk / Return Rank: 7272
Overall Rank
IJR Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
IJR Sortino Ratio Rank: 7070
Sortino Ratio Rank
IJR Omega Ratio Rank: 6262
Omega Ratio Rank
IJR Calmar Ratio Rank: 8383
Calmar Ratio Rank
IJR Martin Ratio Rank: 7878
Martin Ratio Rank
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. IJR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental US Small Co. Index ETF (FNDA) and iShares Core S&P Small-Cap ETF (IJR). 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.

FNDAIJRDifference
Sharpe ratioReturn per unit of total volatility
1.83
1.97

-0.14

Sortino ratioReturn per unit of downside risk
2.65
2.85

-0.20

Omega ratioGain probability vs. loss probability

1.32

1.34

-0.02

Calmar ratioReturn relative to maximum drawdown

3.40

4.01

-0.62

Martin ratioReturn relative to average drawdown

10.99

13.47

-2.49

FNDA vs. IJR - Sharpe Ratio Comparison

The current FNDA Sharpe Ratio is 1.83, which is comparable to the IJR Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of FNDA and IJR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FNDA vs. IJR - Drawdown Comparison

The maximum FNDA drawdown since its inception was -44.64%, smaller than the maximum IJR drawdown of -58.15%. Use the drawdown chart below to compare losses from any high point for FNDA and IJR.

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Drawdown Indicators

FNDAIJRDifference

Max Drawdown

Largest peak-to-trough decline

-44.64%

-58.15%

+13.51%

Max Drawdown (1Y)

Largest decline over 1 year

-9.36%

-8.68%

-0.68%

Max Drawdown (3Y)

Largest decline over 3 years

-25.92%

-28.02%

+2.10%

Max Drawdown (5Y)

Largest decline over 5 years

-25.92%

-28.02%

+2.10%

Max Drawdown (10Y)

Largest decline over 10 years

-44.64%

-44.36%

-0.28%

Current Drawdown

Current decline from peak

-0.35%

0.00%

-0.35%

Average Drawdown

Average peak-to-trough decline

-6.67%

-9.26%

+2.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.89%

2.58%

+0.31%

Volatility

FNDA vs. IJR - Volatility Comparison

Schwab Fundamental US Small Co. Index ETF (FNDA) and iShares Core S&P Small-Cap ETF (IJR) have volatilities of 4.97% and 5.01%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FNDAIJRDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.97%

5.01%

-0.04%

Volatility (6M)

Calculated over the trailing 6-month period

12.23%

12.10%

+0.13%

Volatility (1Y)

Calculated over the trailing 1-year period

17.37%

17.71%

-0.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.89%

21.40%

-0.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.36%

22.90%

-0.54%

FNDA vs. IJR - Expense Ratio Comparison

FNDA has a 0.25% expense ratio, which is higher than IJR's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FNDA vs. IJR - Dividend Comparison

FNDA's dividend yield for the trailing twelve months is around 1.06%, less than IJR's 1.14% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
IJR
iShares Core S&P Small-Cap ETF		1.14%1.44%2.05%1.31%1.41%1.53%1.11%1.44%1.58%1.20%1.22%1.48%

Frequently Asked Questions

With a correlation of 0.99, FNDA and IJR 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.

IJR has higher volatility (5.01%) compared to FNDA (4.97%). In terms of maximum drawdown, FNDA dropped -44.64% vs IJR's -58.15%.

On 10-year performance, FNDA leads with 11.49% vs 11.43% for IJR. On fees, IJR is cheaper at 0.06% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, FNDA has performed better with a 11.49% return vs 11.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IJR is cheaper with a 0.06% expense ratio, compared with 0.25% for FNDA.

IJR has the higher dividend yield at 1.14%, compared with 1.06% for FNDA.

FNDA tracks Russell RAFI Small Company US, while IJR tracks S&P SmallCap 600 Index. They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.25% for FNDA and 0.06% for IJR.

IJR currently has the higher Sharpe Ratio (1.97 vs 1.83), 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.

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