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FNDE vs. PRF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FNDE vs. PRF

Last updated Jun 14, 2026

FNDE (Schwab Fundamental Emerging Markets Equity ETF) and PRF (Invesco RAFI US 1000 ETF) are both exchange-traded funds - FNDE is a Emerging Markets Equities fund tracking the RAFI Fundamental High Liquidity Emerging Markets Index (Net), while PRF is a Large Cap Value Equities fund tracking the RAFI Fundamental Select US 1000 Index. Both are passively managed. Over the past 10 years, FNDE returned 11.35%/yr vs 13.91%/yr for PRF. A 0.66 correlation means they provide meaningful diversification when combined. FNDE charges 0.39%/yr vs 0.34%/yr for PRF.

Performance

FNDE vs. PRF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental Emerging Markets Equity ETF (FNDE) and Invesco RAFI US 1000 ETF (PRF). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FNDE achieves a 13.70% return, which is significantly lower than PRF's 15.65% return. Over the past 10 years, FNDE has underperformed PRF with an annualized return of 11.35%, while PRF has yielded a comparatively higher 13.91% annualized return.

FNDE

1D
0.66%
1M
2.02%
YTD
13.70%
6M
15.79%
1Y
31.37%
3Y*
19.78%
5Y*
9.29%
10Y*
11.35%

PRF

1D
0.88%
1M
3.48%
YTD
15.65%
6M
15.18%
1Y
33.40%
3Y*
20.72%
5Y*
12.67%
10Y*
13.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FNDE vs. PRF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FNDE
Schwab Fundamental Emerging Markets Equity ETF		13.70%29.46%12.10%14.99%-15.58%14.41%-2.77%19.75%-10.37%26.77%
PRF
Invesco RAFI US 1000 ETF		15.65%18.33%16.73%15.72%-7.79%31.12%7.78%27.42%-8.71%16.01%

Correlation

The correlation between FNDE and PRF is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.65

Correlation (3Y)
Calculated over the trailing 3-year period

0.58

Correlation (5Y)
Calculated over the trailing 5-year period

0.62

Correlation (10Y)
Calculated over the trailing 10-year period

0.64

Correlation (All Time)
Calculated using the full available price history since Aug 15, 2013

0.66

The correlation between FNDE and PRF has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.

FNDE vs. PRF - Sectors Allocation Comparison

Sectors
FNDE
PRF

Technology

23.3%
23.1%

Financial Services

16.2%
15.4%

Energy

10.4%
7.9%

Consumer Cyclical

8.1%
8.7%

Basic Materials

8.1%
3.3%

Industrials

3.6%
8.9%

Communication Services

3.5%
9.4%

Utilities

1.9%
3.0%

Real Estate

1.5%
2.4%

Consumer Defensive

1.2%
6.0%

Healthcare

1.1%
12.0%

Technology

FNDE
23.3%
PRF
23.1%

Financial Services

FNDE
16.2%
PRF
15.4%

Energy

FNDE
10.4%
PRF
7.9%

Consumer Cyclical

FNDE
8.1%
PRF
8.7%

Basic Materials

FNDE
8.1%
PRF
3.3%

Industrials

FNDE
3.6%
PRF
8.9%

Communication Services

FNDE
3.5%
PRF
9.4%

Utilities

FNDE
1.9%
PRF
3.0%

Real Estate

FNDE
1.5%
PRF
2.4%

Consumer Defensive

FNDE
1.2%
PRF
6.0%

Healthcare

FNDE
1.1%
PRF
12.0%

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 Equity ETF

Invesco RAFI US 1000 ETF

Often compared with FNDE:
FNDE vs. SCHEFNDE vs. VWOFNDE vs. AVEMFNDE vs. AVESFNDE vs. DEMFNDE vs. SCHFFNDE vs. DFEVX
Often compared with PRF:
PRF vs. SPYPRF vs. VOOPRF vs. RSPPRF vs. PFMPRF vs. VTVPRF vs. SCHDPRF vs. PXF

Return for Risk

FNDE vs. PRF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FNDE
FNDE Risk / Return Rank: 6767
Overall Rank
FNDE Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
FNDE Sortino Ratio Rank: 6565
Sortino Ratio Rank
FNDE Omega Ratio Rank: 6969
Omega Ratio Rank
FNDE Calmar Ratio Rank: 6767
Calmar Ratio Rank
FNDE Martin Ratio Rank: 6767
Martin Ratio Rank
PRF
PRF Risk / Return Rank: 9292
Overall Rank
PRF Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
PRF Sortino Ratio Rank: 9393
Sortino Ratio Rank
PRF Omega Ratio Rank: 9292
Omega Ratio Rank
PRF Calmar Ratio Rank: 9090
Calmar Ratio Rank
PRF Martin Ratio Rank: 9292
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. PRF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental Emerging Markets Equity ETF (FNDE) and Invesco RAFI US 1000 ETF (PRF). 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.

FNDEPRFDifference
Sharpe ratioReturn per unit of total volatility
1.92
2.95

-1.03

Sortino ratioReturn per unit of downside risk
2.58
4.07

-1.49

Omega ratioGain probability vs. loss probability

1.35

1.54

-0.18

Calmar ratioReturn relative to maximum drawdown

2.93

4.90

-1.98

Martin ratioReturn relative to average drawdown

10.67

20.07

-9.40

FNDE vs. PRF - Sharpe Ratio Comparison

The current FNDE Sharpe Ratio is 1.92, which is lower than the PRF Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of FNDE and PRF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FNDE vs. PRF - Drawdown Comparison

The maximum FNDE drawdown since its inception was -43.55%, smaller than the maximum PRF drawdown of -60.35%. Use the drawdown chart below to compare losses from any high point for FNDE and PRF.

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Drawdown Indicators

FNDEPRFDifference

Max Drawdown

Largest peak-to-trough decline

-43.55%

-60.35%

+16.80%

Max Drawdown (1Y)

Largest decline over 1 year

-10.23%

-6.59%

-3.64%

Max Drawdown (3Y)

Largest decline over 3 years

-18.40%

-15.82%

-2.58%

Max Drawdown (5Y)

Largest decline over 5 years

-29.44%

-19.72%

-9.72%

Max Drawdown (10Y)

Largest decline over 10 years

-39.93%

-38.16%

-1.77%

Current Drawdown

Current decline from peak

-3.19%

-0.00%

-3.19%

Average Drawdown

Average peak-to-trough decline

-11.69%

-6.92%

-4.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.80%

1.61%

+1.19%

Volatility

FNDE vs. PRF - Volatility Comparison

Schwab Fundamental Emerging Markets Equity ETF (FNDE) has a higher volatility of 6.30% compared to Invesco RAFI US 1000 ETF (PRF) at 3.60%. This indicates that FNDE's price experiences larger fluctuations and is considered to be riskier than PRF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FNDEPRFDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.30%

3.60%

+2.70%

Volatility (6M)

Calculated over the trailing 6-month period

13.07%

8.17%

+4.90%

Volatility (1Y)

Calculated over the trailing 1-year period

15.61%

10.95%

+4.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.01%

15.23%

+1.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.30%

17.68%

+1.62%

FNDE vs. PRF - Expense Ratio Comparison

FNDE has a 0.39% expense ratio, which is higher than PRF's 0.34% expense ratio.

Dividends

FNDE vs. PRF - Dividend Comparison

FNDE's dividend yield for the trailing twelve months is around 3.68%, more than PRF's 1.37% yield.

PositionTTM20252024202320222021202020192018201720162015
FNDE
Schwab Fundamental Emerging Markets Equity ETF		3.68%4.19%4.82%4.74%5.59%4.32%2.50%3.47%2.98%2.05%1.65%2.02%
PRF
Invesco RAFI US 1000 ETF		1.37%1.59%1.78%1.84%2.01%1.58%1.97%1.99%2.25%1.58%2.17%2.25%

Frequently Asked Questions

FNDE and PRF have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FNDE has higher volatility (6.30%) compared to PRF (3.60%). In terms of maximum drawdown, FNDE dropped -43.55% vs PRF's -60.35%.

On 10-year performance, PRF leads with 13.91% vs 11.35% for FNDE. On fees, PRF is cheaper at 0.34% per year. On volatility, PRF has been the lower-risk option at 3.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, PRF has performed better with a 13.91% return vs 11.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

PRF is cheaper with a 0.34% expense ratio, compared with 0.39% for FNDE.

FNDE has the higher dividend yield at 3.68%, compared with 1.37% for PRF.

FNDE is categorized as Emerging Markets Equities, while PRF is Large Cap Value Equities. FNDE tracks RAFI Fundamental High Liquidity Emerging Markets Index (Net), while PRF tracks RAFI Fundamental Select US 1000 Index. They also come from different issuers: Charles Schwab and Invesco. Their fees differ too: 0.39% for FNDE and 0.34% for PRF.

PRF currently has the higher Sharpe Ratio (2.95 vs 1.92), 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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