FNDC vs. DFIS

Last updated Aug 4, 2026

FNDC (Schwab Fundamental International Small Equity ETF) and DFIS (Dimensional International Small Cap ETF) are both Foreign Small & Mid Cap Equities funds. FNDC is passively managed, while DFIS is actively managed. Over the past 3 years, FNDC returned 17.45%/yr vs 18.58%/yr for DFIS. Their 0.96 correlation means they have historically moved very closely together. Both charge a 0.39% expense ratio.

Performance

FNDC vs. DFIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental International Small Equity ETF (FNDC) and Dimensional International Small Cap ETF (DFIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNDC achieves a 11.89% return, which is significantly higher than DFIS's 11.05% return.

FNDC

• 1D: 0.69%
• 1M: 1.39%
• 6M: 5.12%
• YTD: 11.89%
• 1Y: 22.97%
• 3Y*: 17.45%
• 5Y*: 7.83%
• 10Y*: 8.65%
• ALL TIME*: 7.87%

DFIS

• 1D: 0.71%
• 1M: 1.69%
• 6M: 4.76%
• YTD: 11.05%
• 1Y: 24.15%
• 3Y*: 18.58%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.34%

*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)
DFIS Dimensional International Small Cap ETF	$28.82M	$39.30M	$27.03M
FNDC Schwab Fundamental International Small Equity ETF	$3.68M	$3.93M	$9.60M

FNDC vs. DFIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FNDC Schwab Fundamental International Small Equity ETF	11.89%	35.65%	1.38%	14.92%	-9.89%
DFIS Dimensional International Small Cap ETF	11.05%	37.49%	3.80%	15.19%	-12.50%

Correlation

The correlation between FNDC and DFIS is 0.94, 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.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (All Time) Calculated using the full available price history since Mar 24, 2022	0.96

The correlation between FNDC and DFIS has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

FNDC vs. DFIS - Sectors Allocation Comparison

Sectors	FNDC	DFIS
Industrials	24.6%	24.4%
Consumer Cyclical	13.4%	13.8%
Financial Services	11.9%	12.5%
Basic Materials	10.2%	13.8%
Technology	9.7%	9.4%
Real Estate	7.2%	3.5%
Consumer Defensive	6.1%	5.3%
Healthcare	5.5%	5.5%
Communication Services	4.9%	3.5%
Energy	3.9%	5.3%
Utilities	2.6%	3.1%

Return for Risk

FNDC vs. DFIS — Risk / Return Rank

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

FNDC

FNDC Risk / Return Rank: 61
FNDC Sharpe Ratio Rank: 64
FNDC Sortino Ratio Rank: 65
FNDC Omega Ratio Rank: 64
FNDC Calmar Ratio Rank: 56
FNDC Martin Ratio Rank: 58

DFIS

DFIS Risk / Return Rank: 62
DFIS Sharpe Ratio Rank: 67
DFIS Sortino Ratio Rank: 67
DFIS Omega Ratio Rank: 64
DFIS Calmar Ratio Rank: 53
DFIS Martin Ratio Rank: 58

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.

FNDC vs. DFIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental International Small Equity ETF (FNDC) and Dimensional International Small Cap ETF (DFIS). 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.

	FNDC	DFIS	Difference
Sharpe ratio: Return per unit of total volatility	1.53	1.59	-0.06
Sortino ratio: Return per unit of downside risk	2.20	2.25	-0.06
Omega ratio: Gain probability vs. loss probability	1.28	1.28	0.00
Calmar ratio: Return relative to maximum drawdown	2.06	1.95	+0.11
Martin ratio: Return relative to average drawdown	7.14	7.09	+0.05

FNDC vs. DFIS - Sharpe Ratio Comparison

The current FNDC Sharpe Ratio is 1.53, which is comparable to the DFIS Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of FNDC and DFIS, 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

FNDC vs. DFIS - Drawdown Comparison

The maximum FNDC drawdown since its inception was -43.22%, which is greater than DFIS's maximum drawdown of -27.23%. Use the drawdown chart below to compare losses from any high point for FNDC and DFIS.

Drawdown Indicators

	FNDC	DFIS	Difference
Max Drawdown Largest peak-to-trough decline	-43.22%	-27.23%	-15.99%
Max Drawdown (1Y) Largest decline over 1 year	-11.20%	-12.44%	+1.24%
Max Drawdown (3Y) Largest decline over 3 years	-12.00%	-13.55%	+1.55%
Max Drawdown (5Y) Largest decline over 5 years	-32.13%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.22%	—	—
Current Drawdown Current decline from peak	-1.63%	-1.21%	-0.42%
Average Drawdown Average peak-to-trough decline	-8.38%	-6.05%	-2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	3.41%	-0.18%

Volatility

FNDC vs. DFIS - Volatility Comparison

Schwab Fundamental International Small Equity ETF (FNDC) and Dimensional International Small Cap ETF (DFIS) have volatilities of 4.23% and 4.34%, 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

	FNDC	DFIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.23%	4.34%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	12.98%	13.01%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	15.07%	15.24%	-0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.07%	17.26%	-1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.68%	17.26%	-0.58%

FNDC vs. DFIS - Expense Ratio Comparison

Both FNDC and DFIS have an expense ratio of 0.39%.

Dividends

FNDC vs. DFIS - Dividend Comparison

FNDC's dividend yield for the trailing twelve months is around 3.64%, more than DFIS's 1.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFIS Dimensional International Small Cap ETF	1.98%	2.23%	2.19%	2.36%	1.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FNDC Schwab Fundamental International Small Equity ETF	3.64%	3.86%	3.59%	2.86%	1.98%	2.58%	1.77%	2.71%	2.68%	1.94%	1.95%	1.30%

Frequently Asked Questions

Can I hold both FNDC and DFIS in my portfolio?

With a correlation of 0.94, FNDC and DFIS 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.

Which is riskier, FNDC or DFIS?

DFIS has higher volatility (4.34%) compared to FNDC (4.23%). In terms of maximum drawdown, FNDC dropped -43.22% vs DFIS's -27.23%.

Which ETF is better, FNDC or DFIS?

On 3-year performance, DFIS leads with 18.58% vs 17.45% for FNDC. Both ETFs have the same 0.39% expense ratio. On volatility, FNDC has been the lower-risk option at 4.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNDC or DFIS?

Over the 3-year period, DFIS has performed better with a 18.58% return vs 17.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNDC or DFIS?

FNDC and DFIS have the same expense ratio: 0.39% per year.

Which ETF pays a higher dividend yield, FNDC or DFIS?

FNDC has the higher dividend yield at 3.64%, compared with 1.98% for DFIS.

What is the main difference between FNDC and DFIS?

They also come from different issuers: Charles Schwab and Dimensional.

Which has better risk-adjusted returns?

DFIS currently has the higher Sharpe Ratio (1.59 vs 1.53), 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.