FNDB vs. PWV
FNDB (Schwab Fundamental U.S. Broad Market Index ETF) and PWV (Invesco Large Cap Value ETF) are both Large Cap Value Equities funds - FNDB tracks the RAFI Fundamental High Liquidity US All Index while PWV tracks the Dynamic Large Cap Value Intellidex Index (AMEX). Both are passively managed. Over the past 10 years, FNDB returned 14.03%/yr vs 12.37%/yr for PWV. Their correlation of 0.91 means they have usually moved in the same direction. FNDB charges 0.25%/yr vs 0.55%/yr for PWV.
Performance
FNDB vs. PWV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FNDB achieves a 17.51% return, which is significantly lower than PWV's 21.58% return. Over the past 10 years, FNDB has outperformed PWV with an annualized return of 14.03%, while PWV has yielded a comparatively lower 12.37% annualized return.
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%
PWV
- 1D
- 0.13%
- 1M
- 3.22%
- 6M
- 18.00%
- YTD
- 21.58%
- 1Y
- 33.25%
- 3Y*
- 20.57%
- 5Y*
- 15.05%
- 10Y*
- 12.37%
- ALL TIME*
- 10.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.69M | $5.14M | $4.73M | |
| $10.04M | $7.39M | $4.81M |
FNDB vs. PWV - 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% |
PWV Invesco Large Cap Value ETF | 21.58% | 19.65% | 14.48% | 10.36% | -1.16% | 29.06% | -3.77% | 29.84% | -14.12% | 16.98% |
Correlation
The correlation between FNDB and PWV is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.85 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013 | 0.91 |
The correlation between FNDB and PWV shifts across timeframes, from 0.74 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FNDB vs. PWV — Risk / Return Rank
FNDB
PWV
FNDB vs. PWV - 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 Invesco Large Cap Value ETF (PWV). 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 | PWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.60 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.84 | 7.91 | -3.07 |
| Martin ratioReturn relative to average drawdown | 19.07 | 28.36 | -9.29 |
Loading charts...
Drawdowns
FNDB vs. PWV - Drawdown Comparison
The maximum FNDB drawdown since its inception was -38.17%, smaller than the maximum PWV drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for FNDB and PWV.
Loading charts...
Drawdown Indicators
| FNDB | PWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.17% | -49.04% | +10.87% |
Max Drawdown (1Y)Largest decline over 1 year | -6.29% | -4.05% | -2.24% |
Max Drawdown (3Y)Largest decline over 3 years | -16.83% | -14.31% | -2.52% |
Max Drawdown (5Y)Largest decline over 5 years | -19.29% | -16.36% | -2.93% |
Max Drawdown (10Y)Largest decline over 10 years | -38.17% | -37.67% | -0.50% |
Current DrawdownCurrent decline from peak | -0.43% | -0.90% | +0.47% |
Average DrawdownAverage peak-to-trough decline | -3.62% | -9.43% | +5.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 1.13% | +0.47% |
Volatility
FNDB vs. PWV - Volatility Comparison
The current volatility for Schwab Fundamental U.S. Broad Market Index ETF (FNDB) is 2.32%, while Invesco Large Cap Value ETF (PWV) has a volatility of 2.91%. This indicates that FNDB experiences smaller price fluctuations and is considered to be less risky than PWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FNDB | PWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.32% | 2.91% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 7.65% | 7.24% | +0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.77% | 9.69% | +1.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.23% | 14.28% | +0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.42% | 17.14% | +0.28% |
FNDB vs. PWV - Expense Ratio Comparison
FNDB has a 0.25% expense ratio, which is lower than PWV's 0.55% expense ratio.
Dividends
FNDB vs. PWV - Dividend Comparison
FNDB's dividend yield for the trailing twelve months is around 1.43%, less than PWV's 1.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PWV Invesco Large Cap Value ETF | 1.65% | 2.12% | 2.08% | 2.16% | 2.29% | 1.89% | 2.66% | 2.24% | 2.34% | 1.55% | 2.35% | 2.42% |
Frequently Asked Questions
FNDB and PWV have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PWV has higher volatility (2.91%) compared to FNDB (2.32%). In terms of maximum drawdown, FNDB dropped -38.17% vs PWV's -49.04%.
On 10-year performance, FNDB leads with 14.03% vs 12.37% for PWV. On fees, FNDB is cheaper at 0.25% 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.
Over the 10-year period, FNDB has performed better with a 14.03% return vs 12.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNDB is cheaper with a 0.25% expense ratio, compared with 0.55% for PWV.
PWV has the higher dividend yield at 1.65%, compared with 1.43% for FNDB.
FNDB tracks RAFI Fundamental High Liquidity US All Index, while PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX). They also come from different issuers: Charles Schwab and Invesco. Their fees differ too: 0.25% for FNDB and 0.55% for PWV.
PWV currently has the higher Sharpe Ratio (3.32 vs 2.83), 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.
Find the right allocation for FNDB and PWV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer