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FNDE vs. MFEM
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FNDE vs. MFEM

Last updated Apr 1, 2026

Compare and contrast key facts about Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE) and PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM).

FNDE and MFEM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FNDE is a passively managed fund by Charles Schwab that tracks the performance of the Russell Fundamental Emerging Markets Large Company Index. It was launched on Aug 15, 2013. MFEM is a passively managed fund by PIMCO that tracks the performance of the RAFI Dynamic Multi-Factor Emerging Market Index. It was launched on Aug 31, 2017. Both FNDE and MFEM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FNDE vs. MFEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE) and PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM). The values are adjusted to include any dividend payments, if applicable.

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FNDE vs. MFEM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FNDE
Schwab Fundamental Emerging Markets Large Company Index ETF		6.10%29.46%12.10%14.99%-15.58%14.41%-2.77%19.75%-10.37%4.72%
MFEM
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF		8.20%25.33%4.73%15.14%-19.50%10.77%11.33%15.26%-14.64%4.82%

Returns By Period

In the year-to-date period, FNDE achieves a 6.10% return, which is significantly lower than MFEM's 8.20% return.

FNDE

1D
2.71%
1M
-5.06%
YTD
6.10%
6M
9.65%
1Y
29.56%
3Y*
18.98%
5Y*
9.51%
10Y*
10.24%

MFEM

1D
2.92%
1M
-9.87%
YTD
8.20%
6M
12.54%
1Y
35.23%
3Y*
16.17%
5Y*
6.37%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Schwab Fundamental Emerging Markets Large Company Index ETF

PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF

Often compared with FNDE:
FNDE vs. SCHEFNDE vs. VWOFNDE vs. AVEMFNDE vs. AVESFNDE vs. DEMFNDE vs. DFEVXFNDE vs. SCHF
Often compared with MFEM:
MFEM vs. DEMMFEM vs. ZPRV.DEMFEM vs. FLXE.LMFEM vs. FLXE.DEMFEM vs. VWOMFEM vs. VOOMFEM vs. PRF

FNDE vs. MFEM - Expense Ratio Comparison

FNDE has a 0.39% expense ratio, which is lower than MFEM's 0.49% expense ratio.

MFEM
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF
FNDE
Schwab Fundamental Emerging Markets Large Company Index ETF

Return for Risk

FNDE vs. MFEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FNDE
FNDE Risk / Return Rank: 8585
Overall Rank
FNDE Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
FNDE Sortino Ratio Rank: 8686
Sortino Ratio Rank
FNDE Omega Ratio Rank: 8787
Omega Ratio Rank
FNDE Calmar Ratio Rank: 8282
Calmar Ratio Rank
FNDE Martin Ratio Rank: 8686
Martin Ratio Rank
MFEM
MFEM Risk / Return Rank: 8888
Overall Rank
MFEM Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
MFEM Sortino Ratio Rank: 8989
Sortino Ratio Rank
MFEM Omega Ratio Rank: 8989
Omega Ratio Rank
MFEM Calmar Ratio Rank: 8787
Calmar Ratio Rank
MFEM Martin Ratio Rank: 8787
Martin Ratio Rank
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. MFEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE) and PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM). 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.

FNDEMFEMDifference

Sharpe ratio

Return per unit of total volatility

1.67

1.89

-0.22

Sortino ratio

Return per unit of downside risk

2.25

2.47

-0.22

Omega ratio

Gain probability vs. loss probability

1.34

1.37

-0.03

Calmar ratio

Return relative to maximum drawdown

2.16

2.71

-0.55

Martin ratio

Return relative to average drawdown

9.71

10.38

-0.67

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNDE vs. MFEM - Sharpe Ratio Comparison

The current FNDE Sharpe Ratio is 1.67, which is comparable to the MFEM Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of FNDE and MFEM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FNDEMFEMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.67

1.89

-0.22

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.57

0.40

+0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.34

0.32

+0.02

Correlation

The correlation between FNDE and MFEM is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FNDE vs. MFEM - Dividend Comparison

FNDE's dividend yield for the trailing twelve months is around 3.94%, more than MFEM's 2.56% yield.

TTM20252024202320222021202020192018201720162015
FNDE
Schwab Fundamental Emerging Markets Large Company Index ETF		3.94%4.19%4.82%4.74%5.59%4.32%2.50%3.47%2.98%2.05%1.65%2.02%
MFEM
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF		2.56%2.77%5.89%4.01%7.01%29.96%1.70%2.37%1.18%0.21%0.00%0.00%

Drawdowns

FNDE vs. MFEM - Drawdown Comparison

The maximum FNDE drawdown since its inception was -43.55%, roughly equal to the maximum MFEM drawdown of -43.32%. Use the drawdown chart below to compare losses from any high point for FNDE and MFEM.

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Drawdown Indicators

FNDEMFEMDifference

Max Drawdown

Largest peak-to-trough decline

-43.55%

-43.32%

-0.23%

Max Drawdown (1Y)

Largest decline over 1 year

-13.72%

-12.86%

-0.86%

Max Drawdown (5Y)

Largest decline over 5 years

-29.44%

-31.39%

+1.95%

Max Drawdown (10Y)

Largest decline over 10 years

-39.93%

—

—

Current Drawdown

Current decline from peak

-6.41%

-10.31%

+3.90%

Average Drawdown

Average peak-to-trough decline

-11.84%

-11.67%

-0.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.06%

3.36%

-0.30%

Volatility

FNDE vs. MFEM - Volatility Comparison

The current volatility for Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE) is 7.66%, while PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM) has a volatility of 10.30%. This indicates that FNDE experiences smaller price fluctuations and is considered to be less risky than MFEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FNDEMFEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.66%

10.30%

-2.64%

Volatility (6M)

Calculated over the trailing 6-month period

11.93%

14.44%

-2.51%

Volatility (1Y)

Calculated over the trailing 1-year period

17.79%

18.72%

-0.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.87%

16.12%

+0.75%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.41%

19.22%

+0.19%