FNDB vs. DGRO

Last updated Aug 2, 2026

FNDB (Schwab Fundamental U.S. Broad Market Index ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - FNDB is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US All Index, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. Both are passively managed. Over the past 10 years, FNDB returned 14.03%/yr vs 13.44%/yr for DGRO. Their correlation of 0.93 means they have usually moved in the same direction. FNDB charges 0.25%/yr vs 0.08%/yr for DGRO.

Performance

FNDB vs. DGRO - 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 iShares Core Dividend Growth ETF (DGRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNDB achieves a 17.51% return, which is significantly higher than DGRO's 13.39% return. Both investments have delivered pretty close results over the past 10 years, with FNDB having a 14.03% annualized return and DGRO not far behind at 13.44%.

FNDB

• 1D: 0.10%
• 1M: 1.21%
• 6M: 12.62%
• YTD: 17.51%
• 1Y: 32.18%
• 3Y*: 18.54%
• 5Y*: 13.39%
• 10Y*: 14.03%
• ALL TIME*: 12.99%

DGRO

• 1D: -0.28%
• 1M: 0.97%
• 6M: 9.59%
• YTD: 13.39%
• 1Y: 24.21%
• 3Y*: 16.30%
• 5Y*: 11.08%
• 10Y*: 13.44%
• ALL TIME*: 12.47%

*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)
DGRO iShares Core Dividend Growth ETF	$103.52M	$104.25M	$110.17M
FNDB Schwab Fundamental U.S. Broad Market Index ETF	$5.69M	$5.14M	$4.73M

FNDB vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNDB Schwab Fundamental U.S. Broad Market Index ETF	17.51%	16.23%	16.25%	18.42%	-7.53%	31.55%	9.40%	28.88%	-8.20%	16.94%
DGRO iShares Core Dividend Growth ETF	13.39%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%

Correlation

The correlation between FNDB and DGRO is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014	0.93

The correlation between FNDB and DGRO has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.

FNDB vs. DGRO - Sectors Allocation Comparison

Sectors	FNDB	DGRO
Technology	19.6%	17.3%
Financial Services	14.8%	20.4%
Healthcare	12.7%	17.9%
Industrials	10.3%	11.3%
Consumer Cyclical	9.6%	6.5%
Communication Services	8.4%	0.1%
Energy	8.3%	4.8%
Consumer Defensive	7.2%	11.9%
Basic Materials	3.4%	2.5%
Utilities	3.2%	7.3%
Real Estate	2.5%	-

Return for Risk

FNDB vs. DGRO — Risk / Return Rank

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

FNDB

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

DGRO

DGRO Risk / Return Rank: 91
DGRO Sharpe Ratio Rank: 93
DGRO Sortino Ratio Rank: 93
DGRO Omega Ratio Rank: 92
DGRO Calmar Ratio Rank: 88
DGRO Martin Ratio Rank: 90

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.

FNDB vs. DGRO - 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 iShares Core Dividend Growth ETF (DGRO). 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	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	2.83	2.44	+0.39
Sortino ratio: Return per unit of downside risk	3.92	3.55	+0.37
Omega ratio: Gain probability vs. loss probability	1.52	1.45	+0.08
Calmar ratio: Return relative to maximum drawdown	4.84	3.61	+1.23
Martin ratio: Return relative to average drawdown	19.07	14.07	+5.01

FNDB vs. DGRO - Sharpe Ratio Comparison

The current FNDB Sharpe Ratio is 2.83, which is comparable to the DGRO Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of FNDB and DGRO, 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. DGRO - Drawdown Comparison

The maximum FNDB drawdown since its inception was -38.17%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for FNDB and DGRO.

Drawdown Indicators

	FNDB	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-38.17%	-35.10%	-3.07%
Max Drawdown (1Y) Largest decline over 1 year	-6.29%	-6.47%	+0.18%
Max Drawdown (3Y) Largest decline over 3 years	-16.83%	-14.03%	-2.80%
Max Drawdown (5Y) Largest decline over 5 years	-19.29%	-19.31%	+0.02%
Max Drawdown (10Y) Largest decline over 10 years	-38.17%	-35.10%	-3.07%
Current Drawdown Current decline from peak	-0.43%	-1.35%	+0.92%
Average Drawdown Average peak-to-trough decline	-3.62%	-3.41%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	1.66%	-0.06%

Volatility

FNDB vs. DGRO - Volatility Comparison

The current volatility for Schwab Fundamental U.S. Broad Market Index ETF (FNDB) is 2.32%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 3.21%. This indicates that FNDB experiences smaller price fluctuations and is considered to be less risky than DGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDB	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.32%	3.21%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	7.65%	7.12%	+0.53%
Volatility (1Y) Calculated over the trailing 1-year period	10.77%	9.61%	+1.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.23%	13.79%	+1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.42%	16.58%	+0.84%

FNDB vs. DGRO - Expense Ratio Comparison

FNDB has a 0.25% expense ratio, which is higher than DGRO's 0.08% 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

FNDB vs. DGRO - Dividend Comparison

FNDB's dividend yield for the trailing twelve months is around 1.43%, less than DGRO's 1.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRO iShares Core Dividend Growth ETF	1.89%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%
FNDB Schwab Fundamental U.S. Broad Market Index ETF	1.43%	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 DGRO in my portfolio?

FNDB and DGRO have a correlation of 0.86, 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 DGRO?

DGRO has higher volatility (3.21%) compared to FNDB (2.32%). In terms of maximum drawdown, FNDB dropped -38.17% vs DGRO's -35.10%.

Which ETF is better, FNDB or DGRO?

On 10-year performance, FNDB leads with 14.03% vs 13.44% for DGRO. On fees, DGRO is cheaper at 0.08% per year. On volatility, FNDB has been the lower-risk option at 2.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNDB or DGRO?

Over the 10-year period, FNDB has performed better with a 14.03% return vs 13.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNDB or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.25% for FNDB.

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

DGRO has the higher dividend yield at 1.89%, compared with 1.43% for FNDB.

What is the main difference between FNDB and DGRO?

FNDB is categorized as Large Cap Value Equities, while DGRO is Large Cap Growth Equities. FNDB tracks RAFI Fundamental High Liquidity US All Index, while DGRO tracks Morningstar US Dividend Growth Index. They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.25% for FNDB and 0.08% for DGRO.

Which has better risk-adjusted returns?

FNDB currently has the higher Sharpe Ratio (2.83 vs 2.44), 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.