FNDC vs. SPIP
FNDC (Schwab Fundamental International Small Co. Index ETF) and SPIP (SPDR Portfolio TIPS 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 SPIP is a Inflation-Protected Bonds fund tracking the Bloomberg Barclays US Government Inflation-linked Bond Index. Both are passively managed. Over the past 10 years, FNDC returned 9.15%/yr vs 2.57%/yr for SPIP. At a 0.06 correlation, their price movements are largely independent. FNDC charges 0.39%/yr vs 0.12%/yr for SPIP.
Performance
FNDC vs. SPIP - Performance Comparison
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Returns By Period
In the year-to-date period, FNDC achieves a 11.54% return, which is significantly higher than SPIP's 1.26% return. Over the past 10 years, FNDC has outperformed SPIP with an annualized return of 9.15%, while SPIP has yielded a comparatively lower 2.57% annualized return.
FNDC
- 1D
- 0.34%
- 1M
- 0.77%
- YTD
- 11.54%
- 6M
- 12.98%
- 1Y
- 26.36%
- 3Y*
- 17.46%
- 5Y*
- 7.25%
- 10Y*
- 9.15%
SPIP
- 1D
- -0.08%
- 1M
- 0.28%
- YTD
- 1.26%
- 6M
- 1.35%
- 1Y
- 4.68%
- 3Y*
- 3.94%
- 5Y*
- 0.79%
- 10Y*
- 2.57%
FNDC vs. SPIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNDC Schwab Fundamental International Small Co. Index ETF | 11.54% | 35.65% | 1.38% | 14.92% | -14.71% | 10.26% | 6.58% | 20.58% | -19.10% | 29.22% |
SPIP SPDR Portfolio TIPS ETF | 1.26% | 6.78% | 2.35% | 2.98% | -12.84% | 5.80% | 11.41% | 9.14% | -1.53% | 3.16% |
Correlation
The correlation between FNDC and SPIP is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013 | 0.06 |
Over the past year, FNDC and SPIP have become more correlated (0.35) than their long-term average of 0.06, meaning their price movements have been converging.
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Return for Risk
FNDC vs. SPIP — Risk / Return Rank
FNDC
SPIP
FNDC vs. SPIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental International Small Co. Index ETF (FNDC) and SPDR Portfolio TIPS ETF (SPIP). 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 | SPIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.23 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 2.22 | +0.01 |
| Martin ratioReturn relative to average drawdown | 8.23 | 6.47 | +1.76 |
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Drawdowns
FNDC vs. SPIP - Drawdown Comparison
The maximum FNDC drawdown since its inception was -43.22%, which is greater than SPIP's maximum drawdown of -15.39%. Use the drawdown chart below to compare losses from any high point for FNDC and SPIP.
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Drawdown Indicators
| FNDC | SPIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.22% | -15.39% | -27.83% |
Max Drawdown (1Y)Largest decline over 1 year | -11.20% | -2.04% | -9.16% |
Max Drawdown (3Y)Largest decline over 3 years | -12.98% | -4.76% | -8.22% |
Max Drawdown (5Y)Largest decline over 5 years | -32.13% | -15.39% | -16.74% |
Max Drawdown (10Y)Largest decline over 10 years | -43.22% | -15.39% | -27.83% |
Current DrawdownCurrent decline from peak | -1.93% | -1.25% | -0.68% |
Average DrawdownAverage peak-to-trough decline | -8.44% | -4.10% | -4.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 0.70% | +2.34% |
Volatility
FNDC vs. SPIP - Volatility Comparison
Schwab Fundamental International Small Co. Index ETF (FNDC) has a higher volatility of 5.51% compared to SPDR Portfolio TIPS ETF (SPIP) at 1.02%. This indicates that FNDC's price experiences larger fluctuations and is considered to be riskier than SPIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNDC | SPIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.51% | 1.02% | +4.49% |
Volatility (6M)Calculated over the trailing 6-month period | 12.47% | 2.58% | +9.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.81% | 3.57% | +11.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.08% | 6.57% | +9.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.82% | 6.01% | +10.81% |
FNDC vs. SPIP - Expense Ratio Comparison
FNDC has a 0.39% expense ratio, which is higher than SPIP's 0.12% expense ratio.
Dividends
FNDC vs. SPIP - Dividend Comparison
FNDC's dividend yield for the trailing twelve months is around 3.46%, less than SPIP's 4.76% 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% |
SPIP SPDR Portfolio TIPS ETF | 4.76% | 4.09% | 3.36% | 3.70% | 7.05% | 4.53% | 1.97% | 2.91% | 2.80% | 3.02% | 1.88% | 0.14% |
Frequently Asked Questions
FNDC and SPIP have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNDC has higher volatility (5.51%) compared to SPIP (1.02%). In terms of maximum drawdown, FNDC dropped -43.22% vs SPIP's -15.39%.
On 10-year performance, FNDC leads with 9.15% vs 2.57% for SPIP. On fees, SPIP is cheaper at 0.12% per year. On volatility, SPIP has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FNDC has performed better with a 9.15% return vs 2.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPIP is cheaper with a 0.12% expense ratio, compared with 0.39% for FNDC.
SPIP has the higher dividend yield at 4.76%, compared with 3.46% for FNDC.
FNDC is categorized as Foreign Small & Mid Cap Equities, while SPIP is Inflation-Protected Bonds. FNDC tracks Russell RAFI Small Company Developed x US, while SPIP tracks Bloomberg Barclays US Government Inflation-linked Bond Index. They also come from different issuers: Charles Schwab and State Street. Their fees differ too: 0.39% for FNDC and 0.12% for SPIP.
FNDC currently has the higher Sharpe Ratio (1.69 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.
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