FNDB vs. CDC

Last updated Jun 24, 2026

FNDB (Schwab Fundamental U.S. Broad Market Index ETF) and CDC (VictoryShares US EQ Income Enhanced Volatility Wtd ETF) are both Large Cap Value Equities funds - FNDB tracks the RAFI Fundamental High Liquidity US All Index while CDC tracks the Nasdaq Victory U.S. Large Cap High Dividend 100 Long/Cash Volatility Weighted Index. Both are passively managed. Over the past 10 years, FNDB returned 14.26%/yr vs 10.51%/yr for CDC. Their correlation of 0.85 suggests significant overlap in exposure. FNDB charges 0.25%/yr vs 0.37%/yr for CDC.

Performance

FNDB vs. CDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental U.S. Broad Market Index ETF (FNDB) and VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FNDB having a 14.40% return and CDC slightly lower at 13.97%. Over the past 10 years, FNDB has outperformed CDC with an annualized return of 14.26%, while CDC has yielded a comparatively lower 10.51% annualized return.

FNDB

• 1D: -0.46%
• 1M: 0.73%
• YTD: 14.40%
• 6M: 13.78%
• 1Y: 30.50%
• 3Y*: 20.08%
• 5Y*: 12.79%
• 10Y*: 14.26%

CDC

• 1D: 1.02%
• 1M: 0.81%
• YTD: 13.97%
• 6M: 13.78%
• 1Y: 21.05%
• 3Y*: 12.98%
• 5Y*: 6.51%
• 10Y*: 10.51%

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

FNDB vs. CDC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNDB Schwab Fundamental U.S. Broad Market Index ETF	14.40%	16.23%	16.25%	18.42%	-7.53%	31.55%	9.40%	28.88%	-8.20%	16.94%
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF	13.97%	8.96%	14.48%	-4.99%	-7.86%	33.05%	12.88%	19.64%	-5.97%	15.77%

Correlation

The correlation between FNDB and CDC is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jul 2, 2014	0.85

The correlation between FNDB and CDC shifts across timeframes, from 0.66 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

FNDB vs. CDC - Sectors Allocation Comparison

Sectors	FNDB	CDC
Technology	20.8%	5.0%
Financial Services	12.7%	24.0%
Healthcare	11.9%	6.9%
Industrials	10.0%	4.4%
Energy	9.3%	8.8%
Consumer Cyclical	9.2%	7.0%
Communication Services	8.9%	4.0%
Consumer Defensive	6.9%	15.1%
Basic Materials	3.7%	0.0%
Utilities	3.0%	23.9%
Real Estate	2.2%	0.0%

Return for Risk

FNDB vs. CDC — Risk / Return Rank

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

FNDB

FNDB Risk / Return Rank: 88
FNDB Sharpe Ratio Rank: 88
FNDB Sortino Ratio Rank: 89
FNDB Omega Ratio Rank: 87
FNDB Calmar Ratio Rank: 87
FNDB Martin Ratio Rank: 88

CDC

CDC Risk / Return Rank: 72
CDC Sharpe Ratio Rank: 70
CDC Sortino Ratio Rank: 74
CDC Omega Ratio Rank: 64
CDC Calmar Ratio Rank: 77
CDC Martin Ratio Rank: 74

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.

FNDB vs. CDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental U.S. Broad Market Index ETF (FNDB) and VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC). 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.

	FNDB	CDC	Difference
Sharpe ratio: Return per unit of total volatility	2.80	2.12	+0.68
Sortino ratio: Return per unit of downside risk	3.89	3.09	+0.80
Omega ratio: Gain probability vs. loss probability	1.51	1.36	+0.15
Calmar ratio: Return relative to maximum drawdown	4.87	3.73	+1.14
Martin ratio: Return relative to average drawdown	18.52	13.12	+5.40

FNDB vs. CDC - Sharpe Ratio Comparison

The current FNDB Sharpe Ratio is 2.80, which is higher than the CDC Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of FNDB and CDC, 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

FNDB vs. CDC - Drawdown Comparison

The maximum FNDB drawdown since its inception was -38.17%, which is greater than CDC's maximum drawdown of -21.37%. Use the drawdown chart below to compare losses from any high point for FNDB and CDC.

Drawdown Indicators

	FNDB	CDC	Difference
Max Drawdown Largest peak-to-trough decline	-38.17%	-21.37%	-16.80%
Max Drawdown (1Y) Largest decline over 1 year	-6.29%	-5.67%	-0.62%
Max Drawdown (3Y) Largest decline over 3 years	-16.83%	-12.70%	-4.13%
Max Drawdown (5Y) Largest decline over 5 years	-19.29%	-21.37%	+2.08%
Max Drawdown (10Y) Largest decline over 10 years	-38.17%	-21.37%	-16.80%
Current Drawdown Current decline from peak	-1.46%	-0.49%	-0.97%
Average Drawdown Average peak-to-trough decline	-3.65%	-5.09%	+1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	1.61%	+0.04%

Volatility

FNDB vs. CDC - Volatility Comparison

Schwab Fundamental U.S. Broad Market Index ETF (FNDB) and VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC) have volatilities of 3.38% and 3.44%, 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.

Volatility by Period

	FNDB	CDC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	3.44%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	7.98%	7.13%	+0.85%
Volatility (1Y) Calculated over the trailing 1-year period	10.96%	9.99%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.35%	12.52%	+2.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.46%	13.21%	+4.25%

FNDB vs. CDC - Expense Ratio Comparison

FNDB has a 0.25% expense ratio, which is lower than CDC's 0.37% expense ratio.

Dividends

FNDB vs. CDC - Dividend Comparison

FNDB's dividend yield for the trailing twelve months is around 1.44%, less than CDC's 3.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF	3.14%	3.36%	3.32%	4.24%	3.48%	2.65%	2.48%	3.04%	3.37%	2.81%	2.99%	3.17%
FNDB Schwab Fundamental U.S. Broad Market Index ETF	1.44%	1.62%	1.74%	1.80%	1.98%	1.63%	2.15%	2.23%	2.41%	1.91%	2.06%	2.26%

Frequently Asked Questions

Can I hold both FNDB and CDC in my portfolio?

FNDB and CDC have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNDB or CDC?

CDC has higher volatility (3.44%) compared to FNDB (3.38%). In terms of maximum drawdown, FNDB dropped -38.17% vs CDC's -21.37%.

Which ETF is better, FNDB or CDC?

On 10-year performance, FNDB leads with 14.26% vs 10.51% for CDC. On fees, FNDB is cheaper at 0.25% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNDB or CDC?

Over the 10-year period, FNDB has performed better with a 14.26% return vs 10.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNDB or CDC?

FNDB is cheaper with a 0.25% expense ratio, compared with 0.37% for CDC.

Which ETF pays a higher dividend yield, FNDB or CDC?

CDC has the higher dividend yield at 3.14%, compared with 1.44% for FNDB.

What is the main difference between FNDB and CDC?

FNDB tracks RAFI Fundamental High Liquidity US All Index, while CDC tracks Nasdaq Victory U.S. Large Cap High Dividend 100 Long/Cash Volatility Weighted Index. They also come from different issuers: Charles Schwab and Crestview. Their fees differ too: 0.25% for FNDB and 0.37% for CDC.

Which has better risk-adjusted returns?

FNDB currently has the higher Sharpe Ratio (2.80 vs 2.12), 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.