FNDC vs. IQSI

Last updated Jun 5, 2026

FNDC (Schwab Fundamental International Small Co. Index ETF) and IQSI (IQ Candriam ESG International Equity 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 IQSI is a Foreign Large Cap Equities fund tracking the IQ Candriam ESG International Equity Index. Both are passively managed. Over the past 5 years, FNDC returned 7.26%/yr vs 7.79%/yr for IQSI. Their correlation of 0.91 suggests significant overlap in exposure. FNDC charges 0.39%/yr vs 0.15%/yr for IQSI.

Performance

FNDC vs. IQSI - Performance Comparison

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

Returns By Period

In the year-to-date period, FNDC achieves a 11.83% return, which is significantly higher than IQSI's 9.93% return.

FNDC

• 1D: 0.42%
• 1M: 0.40%
• YTD: 11.83%
• 6M: 14.14%
• 1Y: 26.84%
• 3Y*: 18.52%
• 5Y*: 7.26%
• 10Y*: 8.64%

IQSI

• 1D: 0.61%
• 1M: 3.82%
• YTD: 9.93%
• 6M: 11.88%
• 1Y: 19.13%
• 3Y*: 15.69%
• 5Y*: 7.79%
• 10Y*: —

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

FNDC vs. IQSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FNDC Schwab Fundamental International Small Co. Index ETF	11.83%	35.65%	1.38%	14.92%	-14.71%	10.26%	6.58%	0.82%
IQSI IQ Candriam ESG International Equity ETF	9.93%	26.95%	4.84%	16.21%	-14.76%	12.70%	10.36%	0.27%

Correlation

The correlation between FNDC and IQSI is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 18, 2019	0.91

The correlation between FNDC and IQSI has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

FNDC vs. IQSI - Sectors Allocation Comparison

Sectors	FNDC	IQSI
Industrials	25.8%	16.8%
Consumer Cyclical	12.8%	7.6%
Financial Services	11.5%	22.2%
Basic Materials	11.0%	5.6%
Technology	8.7%	15.9%
Real Estate	6.9%	2.3%
Consumer Defensive	6.3%	6.0%
Healthcare	4.9%	13.2%
Communication Services	4.8%	4.1%
Energy	4.6%	0.9%
Utilities	2.8%	4.0%

Return for Risk

FNDC vs. IQSI — Risk / Return Rank

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

FNDC

FNDC Risk / Return Rank: 55
FNDC Sharpe Ratio Rank: 57
FNDC Sortino Ratio Rank: 57
FNDC Omega Ratio Rank: 56
FNDC Calmar Ratio Rank: 49
FNDC Martin Ratio Rank: 53

IQSI

IQSI Risk / Return Rank: 36
IQSI Sharpe Ratio Rank: 36
IQSI Sortino Ratio Rank: 36
IQSI Omega Ratio Rank: 35
IQSI Calmar Ratio Rank: 33
IQSI Martin Ratio Rank: 38

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. IQSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental International Small Co. Index ETF (FNDC) and IQ Candriam ESG International Equity ETF (IQSI). 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	IQSI	Difference
Sharpe ratio: Return per unit of total volatility	1.90	1.27	+0.63
Sortino ratio: Return per unit of downside risk	2.68	1.84	+0.84
Omega ratio: Gain probability vs. loss probability	1.34	1.23	+0.12
Calmar ratio: Return relative to maximum drawdown	2.41	1.60	+0.81
Martin ratio: Return relative to average drawdown	9.02	5.87	+3.15
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. IQSI - Sharpe Ratio Comparison

The current FNDC Sharpe Ratio is 1.90, which is higher than the IQSI Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of FNDC and IQSI, 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	IQSI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	1.27	+0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.48	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.51	-0.01

Drawdowns

FNDC vs. IQSI - Drawdown Comparison

The maximum FNDC drawdown since its inception was -43.22%, which is greater than IQSI's maximum drawdown of -31.90%. Use the drawdown chart below to compare losses from any high point for FNDC and IQSI.

Drawdown Indicators

	FNDC	IQSI	Difference
Max Drawdown Largest peak-to-trough decline	-43.22%	-31.90%	-11.32%
Max Drawdown (1Y) Largest decline over 1 year	-11.20%	-12.00%	+0.80%
Max Drawdown (3Y) Largest decline over 3 years	-12.98%	-14.02%	+1.04%
Max Drawdown (5Y) Largest decline over 5 years	-32.13%	-29.86%	-2.27%
Max Drawdown (10Y) Largest decline over 10 years	-43.22%	—	—
Current Drawdown Current decline from peak	-1.68%	-0.54%	-1.14%
Average Drawdown Average peak-to-trough decline	-8.45%	-6.50%	-1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	3.27%	-0.29%

Volatility

FNDC vs. IQSI - Volatility Comparison

Schwab Fundamental International Small Co. Index ETF (FNDC) and IQ Candriam ESG International Equity ETF (IQSI) have volatilities of 4.55% and 4.75%, 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	IQSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.55%	4.75%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	11.77%	12.59%	-0.82%
Volatility (1Y) Calculated over the trailing 1-year period	14.24%	15.20%	-0.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.97%	16.31%	-0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.80%	19.00%	-2.20%

FNDC vs. IQSI - Expense Ratio Comparison

FNDC has a 0.39% expense ratio, which is higher than IQSI's 0.15% expense ratio.

Dividends

FNDC vs. IQSI - Dividend Comparison

FNDC's dividend yield for the trailing twelve months is around 3.45%, more than IQSI's 2.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDC Schwab Fundamental International Small Co. Index ETF	3.45%	3.86%	3.59%	2.86%	1.98%	2.58%	1.77%	2.71%	2.68%	1.94%	1.95%	1.30%
IQSI IQ Candriam ESG International Equity ETF	2.49%	2.75%	2.79%	2.98%	2.89%	2.75%	1.65%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNDC and IQSI in my portfolio?

With a correlation of 0.91, FNDC and IQSI 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 IQSI?

IQSI has higher volatility (4.75%) compared to FNDC (4.55%). In terms of maximum drawdown, FNDC dropped -43.22% vs IQSI's -31.90%.

Which ETF is better, FNDC or IQSI?

On 5-year performance, IQSI leads with 7.79% vs 7.26% for FNDC. On fees, IQSI is cheaper at 0.15% per year. On volatility, FNDC has been the lower-risk option at 4.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNDC or IQSI?

Over the 5-year period, IQSI has performed better with a 7.79% return vs 7.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNDC or IQSI?

IQSI is cheaper with a 0.15% expense ratio, compared with 0.39% for FNDC.

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

FNDC has the higher dividend yield at 3.45%, compared with 2.49% for IQSI.

What is the main difference between FNDC and IQSI?

FNDC is categorized as Foreign Small & Mid Cap Equities, while IQSI is Foreign Large Cap Equities. FNDC tracks Russell RAFI Small Company Developed x US, while IQSI tracks IQ Candriam ESG International Equity Index. They also come from different issuers: Charles Schwab and New York Life. Their fees differ too: 0.39% for FNDC and 0.15% for IQSI.

Which has better risk-adjusted returns?

FNDC currently has the higher Sharpe Ratio (1.90 vs 1.27), 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.