FNDC vs. IPOS

Last updated Jun 4, 2026

FNDC (Schwab Fundamental International Small Co. Index ETF) and IPOS (Renaissance International IPO ETF) are both exchange-traded funds - FNDC is a Foreign Small & Mid Cap Equities fund tracking the Russell RAFI Small Company Developed x US, while IPOS is a Foreign Large Cap Equities fund tracking the Renaissance International IPO Index. Both are passively managed. Over the past 10 years, FNDC returned 8.66%/yr vs 3.00%/yr for IPOS. A 0.54 correlation means they provide meaningful diversification when combined. FNDC charges 0.39%/yr vs 0.80%/yr for IPOS.

Performance

FNDC vs. IPOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental International Small Co. Index ETF (FNDC) and Renaissance International IPO ETF (IPOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNDC achieves a 11.36% return, which is significantly lower than IPOS's 40.15% return. Over the past 10 years, FNDC has outperformed IPOS with an annualized return of 8.66%, while IPOS has yielded a comparatively lower 3.00% annualized return.

FNDC

• 1D: -0.64%
• 1M: 1.12%
• YTD: 11.36%
• 6M: 13.51%
• 1Y: 27.62%
• 3Y*: 18.14%
• 5Y*: 7.17%
• 10Y*: 8.66%

IPOS

• 1D: 0.43%
• 1M: 10.58%
• YTD: 40.15%
• 6M: 44.26%
• 1Y: 65.50%
• 3Y*: 15.28%
• 5Y*: -7.69%
• 10Y*: 3.00%

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

FNDC vs. IPOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNDC Schwab Fundamental International Small Co. Index ETF	11.36%	35.65%	1.38%	14.92%	-14.71%	10.26%	6.58%	20.58%	-19.10%	29.22%
IPOS Renaissance International IPO ETF	40.15%	39.93%	-12.34%	-16.49%	-33.46%	-30.62%	50.71%	30.93%	-22.33%	36.83%

Correlation

The correlation between FNDC and IPOS is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Oct 8, 2014	0.54

The correlation between FNDC and IPOS shifts across timeframes, from 0.54 (all time) to 0.66 (5 years), reflecting how their relationship changes across market environments.

FNDC vs. IPOS - Sectors Allocation Comparison

Sectors	FNDC	IPOS
Industrials	25.8%	15.0%
Consumer Cyclical	12.8%	7.1%
Financial Services	11.5%	9.6%
Basic Materials	11.0%	5.3%
Technology	8.7%	42.0%
Real Estate	6.9%	-
Consumer Defensive	6.3%	4.7%
Healthcare	4.9%	16.2%
Communication Services	4.8%	0.3%
Energy	4.6%	4.9%
Utilities	2.8%	3.1%

Return for Risk

FNDC vs. IPOS — Risk / Return Rank

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

FNDC

FNDC Risk / Return Rank: 54
FNDC Sharpe Ratio Rank: 56
FNDC Sortino Ratio Rank: 57
FNDC Omega Ratio Rank: 56
FNDC Calmar Ratio Rank: 49
FNDC Martin Ratio Rank: 53

IPOS

IPOS Risk / Return Rank: 66
IPOS Sharpe Ratio Rank: 67
IPOS Sortino Ratio Rank: 58
IPOS Omega Ratio Rank: 67
IPOS Calmar Ratio Rank: 76
IPOS Martin Ratio Rank: 63

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.

FNDC vs. IPOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental International Small Co. Index ETF (FNDC) and Renaissance International IPO ETF (IPOS). 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.

	FNDC	IPOS	Difference
Sharpe ratio: Return per unit of total volatility	1.95	2.24	-0.29
Sortino ratio: Return per unit of downside risk	2.75	2.76	-0.02
Omega ratio: Gain probability vs. loss probability	1.35	1.41	-0.06
Calmar ratio: Return relative to maximum drawdown	2.48	3.83	-1.36
Martin ratio: Return relative to average drawdown	9.29	11.58	-2.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNDC vs. IPOS - Sharpe Ratio Comparison

The current FNDC Sharpe Ratio is 1.95, which is comparable to the IPOS Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of FNDC and IPOS, 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

	FNDC	IPOS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	2.24	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	-0.28	+0.74
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.12	+0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.09	+0.41

Drawdowns

FNDC vs. IPOS - Drawdown Comparison

The maximum FNDC drawdown since its inception was -43.22%, smaller than the maximum IPOS drawdown of -73.09%. Use the drawdown chart below to compare losses from any high point for FNDC and IPOS.

Drawdown Indicators

	FNDC	IPOS	Difference
Max Drawdown Largest peak-to-trough decline	-43.22%	-73.09%	+29.87%
Max Drawdown (1Y) Largest decline over 1 year	-11.20%	-17.17%	+5.97%
Max Drawdown (3Y) Largest decline over 3 years	-12.98%	-34.08%	+21.10%
Max Drawdown (5Y) Largest decline over 5 years	-32.13%	-69.93%	+37.80%
Max Drawdown (10Y) Largest decline over 10 years	-43.22%	-73.09%	+29.87%
Current Drawdown Current decline from peak	-2.09%	-40.44%	+38.35%
Average Drawdown Average peak-to-trough decline	-8.45%	-31.99%	+23.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	5.67%	-2.69%

Volatility

FNDC vs. IPOS - Volatility Comparison

The current volatility for Schwab Fundamental International Small Co. Index ETF (FNDC) is 4.67%, while Renaissance International IPO ETF (IPOS) has a volatility of 12.05%. This indicates that FNDC experiences smaller price fluctuations and is considered to be less risky than IPOS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDC	IPOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	12.05%	-7.38%
Volatility (6M) Calculated over the trailing 6-month period	11.77%	26.45%	-14.68%
Volatility (1Y) Calculated over the trailing 1-year period	14.26%	29.41%	-15.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.98%	27.19%	-11.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.80%	24.13%	-7.33%

FNDC vs. IPOS - Expense Ratio Comparison

FNDC has a 0.39% expense ratio, which is lower than IPOS's 0.80% expense ratio.

Dividends

FNDC vs. IPOS - Dividend Comparison

FNDC's dividend yield for the trailing twelve months is around 3.46%, more than IPOS's 0.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDC Schwab Fundamental International Small Co. Index ETF	3.46%	3.86%	3.59%	2.86%	1.98%	2.58%	1.77%	2.71%	2.68%	1.94%	1.95%	1.30%
IPOS Renaissance International IPO ETF	0.68%	1.04%	0.93%	0.33%	0.00%	0.00%	0.25%	0.89%	1.12%	0.87%	1.73%	1.08%

Frequently Asked Questions

Can I hold both FNDC and IPOS in my portfolio?

FNDC and IPOS have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNDC or IPOS?

IPOS has higher volatility (12.05%) compared to FNDC (4.67%). In terms of maximum drawdown, FNDC dropped -43.22% vs IPOS's -73.09%.

Which ETF is better, FNDC or IPOS?

On 10-year performance, FNDC leads with 8.66% vs 3.00% for IPOS. On fees, FNDC is cheaper at 0.39% per year. On volatility, FNDC has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNDC or IPOS?

Over the 10-year period, FNDC has performed better with a 8.66% return vs 3.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNDC or IPOS?

FNDC is cheaper with a 0.39% expense ratio, compared with 0.80% for IPOS.

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

FNDC has the higher dividend yield at 3.46%, compared with 0.68% for IPOS.

What is the main difference between FNDC and IPOS?

FNDC is categorized as Foreign Small & Mid Cap Equities, while IPOS is Foreign Large Cap Equities. FNDC tracks Russell RAFI Small Company Developed x US, while IPOS tracks Renaissance International IPO Index. They also come from different issuers: Charles Schwab and Renaissance Capital. Their fees differ too: 0.39% for FNDC and 0.80% for IPOS.

Which has better risk-adjusted returns?

IPOS currently has the higher Sharpe Ratio (2.24 vs 1.95), 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.