FNDE vs. DFEVX

Last updated Jun 23, 2026

FNDE (Schwab Fundamental Emerging Markets Equity ETF) and DFEVX (DFA Emerging Markets Value Portfolio) are both funds - FNDE is a Emerging Markets Equities fund tracking the RAFI Fundamental High Liquidity Emerging Markets Index (Net), while DFEVX is a Emerging Markets Diversified fund managed by Dimensional. Over the past 10 years, FNDE returned 11.30%/yr vs 11.47%/yr for DFEVX. Their correlation of 0.89 suggests significant overlap in exposure. FNDE charges 0.39%/yr vs 0.45%/yr for DFEVX.

Performance

FNDE vs. DFEVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental Emerging Markets Equity ETF (FNDE) and DFA Emerging Markets Value Portfolio (DFEVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNDE achieves a 14.42% return, which is significantly lower than DFEVX's 24.94% return. Both investments have delivered pretty close results over the past 10 years, with FNDE having a 11.30% annualized return and DFEVX not far ahead at 11.47%.

FNDE

• 1D: 0.78%
• 1M: 1.70%
• YTD: 14.42%
• 6M: 15.32%
• 1Y: 33.81%
• 3Y*: 20.90%
• 5Y*: 9.89%
• 10Y*: 11.30%

DFEVX

• 1D: 1.69%
• 1M: 5.45%
• YTD: 24.94%
• 6M: 26.30%
• 1Y: 46.22%
• 3Y*: 21.85%
• 5Y*: 12.04%
• 10Y*: 11.47%

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

FNDE vs. DFEVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNDE Schwab Fundamental Emerging Markets Equity ETF	14.42%	29.46%	12.10%	14.99%	-15.58%	14.41%	-2.77%	19.75%	-10.37%	26.77%
DFEVX DFA Emerging Markets Value Portfolio	24.94%	29.50%	6.17%	16.50%	-10.77%	12.42%	2.73%	9.64%	-11.92%	33.77%

Correlation

The correlation between FNDE and DFEVX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013	0.89

The correlation between FNDE and DFEVX has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

Return for Risk

FNDE vs. DFEVX — Risk / Return Rank

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

FNDE

FNDE Risk / Return Rank: 68
FNDE Sharpe Ratio Rank: 70
FNDE Sortino Ratio Rank: 65
FNDE Omega Ratio Rank: 70
FNDE Calmar Ratio Rank: 68
FNDE Martin Ratio Rank: 67

DFEVX

DFEVX Risk / Return Rank: 88
DFEVX Sharpe Ratio Rank: 93
DFEVX Sortino Ratio Rank: 86
DFEVX Omega Ratio Rank: 87
DFEVX Calmar Ratio Rank: 87
DFEVX Martin Ratio Rank: 85

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.

FNDE vs. DFEVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental Emerging Markets Equity ETF (FNDE) and DFA Emerging Markets Value Portfolio (DFEVX). 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.

	FNDE	DFEVX	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.93	-0.76
Sortino ratio: Return per unit of downside risk	2.88	3.79	-0.91
Omega ratio: Gain probability vs. loss probability	1.40	1.56	-0.16
Calmar ratio: Return relative to maximum drawdown	3.32	4.00	-0.68
Martin ratio: Return relative to average drawdown	12.00	14.67	-2.67

FNDE vs. DFEVX - Sharpe Ratio Comparison

The current FNDE Sharpe Ratio is 2.18, which is comparable to the DFEVX Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of FNDE and DFEVX, 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

FNDE vs. DFEVX - Drawdown Comparison

The maximum FNDE drawdown since its inception was -43.55%, smaller than the maximum DFEVX drawdown of -67.59%. Use the drawdown chart below to compare losses from any high point for FNDE and DFEVX.

Drawdown Indicators

	FNDE	DFEVX	Difference
Max Drawdown Largest peak-to-trough decline	-43.55%	-67.59%	+24.04%
Max Drawdown (1Y) Largest decline over 1 year	-10.23%	-11.35%	+1.12%
Max Drawdown (3Y) Largest decline over 3 years	-18.40%	-16.17%	-2.23%
Max Drawdown (5Y) Largest decline over 5 years	-29.44%	-23.49%	-5.95%
Max Drawdown (10Y) Largest decline over 10 years	-39.93%	-47.53%	+7.60%
Current Drawdown Current decline from peak	-2.57%	-0.62%	-1.95%
Average Drawdown Average peak-to-trough decline	-11.68%	-16.47%	+4.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	3.09%	-0.26%

Volatility

FNDE vs. DFEVX - Volatility Comparison

The current volatility for Schwab Fundamental Emerging Markets Equity ETF (FNDE) is 6.12%, while DFA Emerging Markets Value Portfolio (DFEVX) has a volatility of 7.76%. This indicates that FNDE experiences smaller price fluctuations and is considered to be less risky than DFEVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDE	DFEVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.12%	7.76%	-1.64%
Volatility (6M) Calculated over the trailing 6-month period	13.20%	13.61%	-0.41%
Volatility (1Y) Calculated over the trailing 1-year period	15.64%	15.49%	+0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.03%	14.23%	+2.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.28%	15.66%	+3.62%

FNDE vs. DFEVX - Expense Ratio Comparison

FNDE has a 0.39% expense ratio, which is lower than DFEVX's 0.45% expense ratio.

Dividends

FNDE vs. DFEVX - Dividend Comparison

FNDE's dividend yield for the trailing twelve months is around 3.66%, more than DFEVX's 3.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFEVX DFA Emerging Markets Value Portfolio	3.00%	3.80%	4.68%	4.39%	4.44%	3.82%	2.47%	2.47%	2.49%	2.45%	1.99%	2.55%
FNDE Schwab Fundamental Emerging Markets Equity ETF	3.66%	4.19%	4.82%	4.74%	5.59%	4.32%	2.50%	3.47%	2.98%	2.05%	1.65%	2.02%

Frequently Asked Questions

Can I hold both FNDE and DFEVX in my portfolio?

FNDE and DFEVX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNDE or DFEVX?

DFEVX has higher volatility (7.76%) compared to FNDE (6.12%). In terms of maximum drawdown, FNDE dropped -43.55% vs DFEVX's -67.59%.

Which has better risk-adjusted returns?

DFEVX currently has the higher Sharpe Ratio (2.93 vs 2.18), 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.