FNDE vs. EVLU
FNDE (Schwab Fundamental Emerging Markets Equity ETF) and EVLU (iShares MSCI Emerging Markets Value Factor ETF) are both Emerging Markets Equities funds - FNDE tracks the RAFI Fundamental High Liquidity Emerging Markets Index (Net) while EVLU tracks the MSCI Emerging Markets Value Factor Select Index (Net). Both are passively managed. Over the past year, FNDE returned 29.79% vs 56.50% for EVLU. Their correlation of 0.91 means they have usually moved in the same direction. FNDE charges 0.39%/yr vs 0.35%/yr for EVLU.
Performance
FNDE vs. EVLU - Performance Comparison
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Returns By Period
In the year-to-date period, FNDE achieves a 16.21% return, which is significantly lower than EVLU's 30.63% return.
FNDE
- 1D
- 0.92%
- 1M
- 5.81%
- 6M
- 7.39%
- YTD
- 16.21%
- 1Y
- 29.79%
- 3Y*
- 20.36%
- 5Y*
- 10.67%
- 10Y*
- 9.98%
- ALL TIME*
- 7.27%
EVLU
- 1D
- 2.28%
- 1M
- 3.86%
- 6M
- 19.79%
- YTD
- 30.63%
- 1Y
- 56.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 37.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $171.89K | $137.56K | $125.48K | |
| $31.25M | $31.29M | $33.84M |
FNDE vs. EVLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FNDE Schwab Fundamental Emerging Markets Equity ETF | 16.21% | 29.46% | 2.19% |
EVLU iShares MSCI Emerging Markets Value Factor ETF | 30.63% | 38.54% | 1.21% |
Correlation
The correlation between FNDE and EVLU is 0.89, 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. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024 | 0.91 |
The correlation between FNDE and EVLU has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.
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Return for Risk
FNDE vs. EVLU — Risk / Return Rank
FNDE
EVLU
FNDE vs. EVLU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental Emerging Markets Equity ETF (FNDE) and iShares MSCI Emerging Markets Value Factor ETF (EVLU). 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 | EVLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.47 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 4.40 | -1.48 |
| Martin ratioReturn relative to average drawdown | 9.25 | 12.68 | -3.43 |
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Drawdowns
FNDE vs. EVLU - Drawdown Comparison
The maximum FNDE drawdown since its inception was -43.55%, which is greater than EVLU's maximum drawdown of -17.17%. Use the drawdown chart below to compare losses from any high point for FNDE and EVLU.
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Drawdown Indicators
| FNDE | EVLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.55% | -17.17% | -26.38% |
Max Drawdown (1Y)Largest decline over 1 year | -10.23% | -12.90% | +2.67% |
Max Drawdown (3Y)Largest decline over 3 years | -18.40% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.44% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.93% | — | — |
Current DrawdownCurrent decline from peak | -1.05% | -4.74% | +3.69% |
Average DrawdownAverage peak-to-trough decline | -11.61% | -3.76% | -7.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 4.47% | -1.24% |
Volatility
FNDE vs. EVLU - Volatility Comparison
The current volatility for Schwab Fundamental Emerging Markets Equity ETF (FNDE) is 4.18%, while iShares MSCI Emerging Markets Value Factor ETF (EVLU) has a volatility of 6.35%. This indicates that FNDE experiences smaller price fluctuations and is considered to be less risky than EVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNDE | EVLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.18% | 6.35% | -2.17% |
Volatility (6M)Calculated over the trailing 6-month period | 13.38% | 18.47% | -5.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.13% | 20.99% | -4.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.08% | 20.40% | -3.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.13% | 20.40% | -1.27% |
FNDE vs. EVLU - Expense Ratio Comparison
FNDE has a 0.39% expense ratio, which is higher than EVLU's 0.35% expense ratio.
Dividends
FNDE vs. EVLU - Dividend Comparison
FNDE's dividend yield for the trailing twelve months is around 3.56%, less than EVLU's 3.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVLU iShares MSCI Emerging Markets Value Factor ETF | 3.72% | 5.20% | 1.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FNDE Schwab Fundamental Emerging Markets Equity ETF | 3.56% | 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
FNDE and EVLU have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EVLU has higher volatility (6.35%) compared to FNDE (4.18%). In terms of maximum drawdown, FNDE dropped -43.55% vs EVLU's -17.17%.
On 1-year performance, EVLU leads with 56.50% vs 29.79% for FNDE. On fees, EVLU is cheaper at 0.35% per year. On volatility, FNDE has been the lower-risk option at 4.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EVLU has performed better with a 56.50% return vs 29.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EVLU is cheaper with a 0.35% expense ratio, compared with 0.39% for FNDE.
EVLU has the higher dividend yield at 3.72%, compared with 3.56% for FNDE.
FNDE tracks RAFI Fundamental High Liquidity Emerging Markets Index (Net), while EVLU tracks MSCI Emerging Markets Value Factor Select Index (Net). They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.39% for FNDE and 0.35% for EVLU.
EVLU currently has the higher Sharpe Ratio (2.71 vs 1.86), 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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