FNDB vs. DIVZ

Last updated Jun 5, 2026

FNDB (Schwab Fundamental U.S. Broad Market Index ETF) and DIVZ (Opal Dividend Income ETF) are both Large Cap Value Equities funds. FNDB is passively managed, while DIVZ is actively managed. Over the past 5 years, FNDB returned 12.55%/yr vs 8.52%/yr for DIVZ. Their correlation of 0.83 suggests significant overlap in exposure. FNDB charges 0.25%/yr vs 0.65%/yr for DIVZ.

Performance

FNDB vs. DIVZ - 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 Opal Dividend Income ETF (DIVZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNDB achieves a 15.31% return, which is significantly higher than DIVZ's 3.90% return.

FNDB

• 1D: 0.74%
• 1M: 3.35%
• YTD: 15.31%
• 6M: 15.58%
• 1Y: 33.57%
• 3Y*: 21.00%
• 5Y*: 12.55%
• 10Y*: 14.02%

DIVZ

• 1D: 0.78%
• 1M: 0.45%
• YTD: 3.90%
• 6M: 4.40%
• 1Y: 12.20%
• 3Y*: 15.48%
• 5Y*: 8.52%
• 10Y*: —

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

FNDB vs. DIVZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FNDB Schwab Fundamental U.S. Broad Market Index ETF	15.31%	16.23%	16.25%	18.42%	-7.53%	26.61%
DIVZ Opal Dividend Income ETF	3.90%	16.72%	18.44%	-0.51%	3.51%	19.74%

Correlation

The correlation between FNDB and DIVZ is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 29, 2021	0.83

Over the past year, the correlation between FNDB and DIVZ has dropped to 0.61 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.

FNDB vs. DIVZ - Sectors Allocation Comparison

Sectors	FNDB	DIVZ
Technology	18.8%	8.0%
Financial Services	14.1%	8.7%
Healthcare	11.6%	16.0%
Industrials	10.0%	4.6%
Energy	10.0%	19.4%
Communication Services	9.7%	5.9%
Consumer Cyclical	9.4%	6.6%
Consumer Defensive	7.2%	20.0%
Basic Materials	3.8%	5.7%
Utilities	3.1%	17.2%
Real Estate	2.4%	-

Return for Risk

FNDB vs. DIVZ — Risk / Return Rank

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

FNDB

FNDB Risk / Return Rank: 90
FNDB Sharpe Ratio Rank: 91
FNDB Sortino Ratio Rank: 92
FNDB Omega Ratio Rank: 90
FNDB Calmar Ratio Rank: 89
FNDB Martin Ratio Rank: 90

DIVZ

DIVZ Risk / Return Rank: 38
DIVZ Sharpe Ratio Rank: 38
DIVZ Sortino Ratio Rank: 38
DIVZ Omega Ratio Rank: 35
DIVZ Calmar Ratio Rank: 43
DIVZ Martin Ratio Rank: 35

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. DIVZ - 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 Opal Dividend Income ETF (DIVZ). 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.

	FNDB	DIVZ	Difference
Sharpe ratio: Return per unit of total volatility	3.15	1.32	+1.82
Sortino ratio: Return per unit of downside risk	4.39	1.95	+2.44
Omega ratio: Gain probability vs. loss probability	1.58	1.23	+0.35
Calmar ratio: Return relative to maximum drawdown	5.36	2.10	+3.26
Martin ratio: Return relative to average drawdown	20.60	5.18	+15.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNDB vs. DIVZ - Sharpe Ratio Comparison

The current FNDB Sharpe Ratio is 3.15, which is higher than the DIVZ Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of FNDB and DIVZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FNDB	DIVZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.15	1.32	+1.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.68	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.90	-0.11

Drawdowns

FNDB vs. DIVZ - Drawdown Comparison

The maximum FNDB drawdown since its inception was -38.17%, which is greater than DIVZ's maximum drawdown of -15.42%. Use the drawdown chart below to compare losses from any high point for FNDB and DIVZ.

Drawdown Indicators

	FNDB	DIVZ	Difference
Max Drawdown Largest peak-to-trough decline	-38.17%	-15.42%	-22.75%
Max Drawdown (1Y) Largest decline over 1 year	-6.29%	-5.83%	-0.46%
Max Drawdown (3Y) Largest decline over 3 years	-16.83%	-9.52%	-7.31%
Max Drawdown (5Y) Largest decline over 5 years	-19.29%	-15.42%	-3.87%
Max Drawdown (10Y) Largest decline over 10 years	-38.17%	—	—
Current Drawdown Current decline from peak	0.00%	-3.76%	+3.76%
Average Drawdown Average peak-to-trough decline	-3.66%	-3.49%	-0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	2.36%	-0.73%

Volatility

FNDB vs. DIVZ - Volatility Comparison

The current volatility for Schwab Fundamental U.S. Broad Market Index ETF (FNDB) is 2.28%, while Opal Dividend Income ETF (DIVZ) has a volatility of 3.41%. This indicates that FNDB experiences smaller price fluctuations and is considered to be less risky than DIVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDB	DIVZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.28%	3.41%	-1.13%
Volatility (6M) Calculated over the trailing 6-month period	7.63%	7.05%	+0.58%
Volatility (1Y) Calculated over the trailing 1-year period	10.73%	9.31%	+1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.36%	12.65%	+2.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.48%	12.57%	+4.91%

FNDB vs. DIVZ - Expense Ratio Comparison

FNDB has a 0.25% expense ratio, which is lower than DIVZ's 0.65% expense ratio.

Dividends

FNDB vs. DIVZ - Dividend Comparison

FNDB's dividend yield for the trailing twelve months is around 1.43%, less than DIVZ's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIVZ Opal Dividend Income ETF	2.58%	2.60%	2.63%	3.66%	3.23%	3.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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 DIVZ in my portfolio?

FNDB and DIVZ have a correlation of 0.61, 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 DIVZ?

DIVZ has higher volatility (3.41%) compared to FNDB (2.28%). In terms of maximum drawdown, FNDB dropped -38.17% vs DIVZ's -15.42%.

Which ETF is better, FNDB or DIVZ?

On 5-year performance, FNDB leads with 12.55% vs 8.52% for DIVZ. On fees, FNDB is cheaper at 0.25% per year. On volatility, FNDB has been the lower-risk option at 2.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNDB or DIVZ?

Over the 5-year period, FNDB has performed better with a 12.55% return vs 8.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNDB or DIVZ?

FNDB is cheaper with a 0.25% expense ratio, compared with 0.65% for DIVZ.

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

DIVZ has the higher dividend yield at 2.58%, compared with 1.43% for FNDB.

What is the main difference between FNDB and DIVZ?

They also come from different issuers: Charles Schwab and TrueShares. Their fees differ too: 0.25% for FNDB and 0.65% for DIVZ.

Which has better risk-adjusted returns?

FNDB currently has the higher Sharpe Ratio (3.15 vs 1.32), 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.