FNDE vs. SPIP
FNDE (Schwab Fundamental Emerging Markets Equity ETF) and SPIP (SPDR Portfolio TIPS ETF) are both exchange-traded funds - FNDE is a Emerging Markets Equities fund tracking the RAFI Fundamental High Liquidity Emerging Markets Index (Net), 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, FNDE returned 11.35%/yr vs 2.57%/yr for SPIP. At a 0.04 correlation, their price movements are largely independent. FNDE charges 0.39%/yr vs 0.12%/yr for SPIP.
Performance
FNDE vs. SPIP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FNDE achieves a 13.70% return, which is significantly higher than SPIP's 1.26% return. Over the past 10 years, FNDE has outperformed SPIP with an annualized return of 11.35%, while SPIP has yielded a comparatively lower 2.57% 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%
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%
FNDE vs. SPIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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 FNDE and SPIP is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013 | 0.04 |
Over the past year, FNDE and SPIP have become more correlated (0.28) than their long-term average of 0.04, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FNDE vs. SPIP — Risk / Return Rank
FNDE
SPIP
FNDE vs. SPIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental Emerging Markets Equity ETF (FNDE) 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.
| FNDE | SPIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.23 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 2.22 | +0.71 |
| Martin ratioReturn relative to average drawdown | 10.67 | 6.47 | +4.20 |
Loading charts...
Drawdowns
FNDE vs. SPIP - Drawdown Comparison
The maximum FNDE drawdown since its inception was -43.55%, which is greater than SPIP's maximum drawdown of -15.39%. Use the drawdown chart below to compare losses from any high point for FNDE and SPIP.
Loading charts...
Drawdown Indicators
| FNDE | SPIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.55% | -15.39% | -28.16% |
Max Drawdown (1Y)Largest decline over 1 year | -10.23% | -2.04% | -8.19% |
Max Drawdown (3Y)Largest decline over 3 years | -18.40% | -4.76% | -13.64% |
Max Drawdown (5Y)Largest decline over 5 years | -29.44% | -15.39% | -14.05% |
Max Drawdown (10Y)Largest decline over 10 years | -39.93% | -15.39% | -24.54% |
Current DrawdownCurrent decline from peak | -3.19% | -1.25% | -1.94% |
Average DrawdownAverage peak-to-trough decline | -11.69% | -4.10% | -7.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.80% | 0.70% | +2.10% |
Volatility
FNDE vs. SPIP - Volatility Comparison
Schwab Fundamental Emerging Markets Equity ETF (FNDE) has a higher volatility of 6.30% compared to SPDR Portfolio TIPS ETF (SPIP) at 1.02%. This indicates that FNDE'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.
Loading charts...
Volatility by Period
| FNDE | SPIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.30% | 1.02% | +5.28% |
Volatility (6M)Calculated over the trailing 6-month period | 13.07% | 2.58% | +10.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.61% | 3.57% | +12.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.01% | 6.57% | +10.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.30% | 6.01% | +13.29% |
FNDE vs. SPIP - Expense Ratio Comparison
FNDE has a 0.39% expense ratio, which is higher than SPIP's 0.12% expense ratio.
Dividends
FNDE vs. SPIP - Dividend Comparison
FNDE's dividend yield for the trailing twelve months is around 3.68%, less than SPIP's 4.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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
FNDE and SPIP have a correlation of 0.28, 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 SPIP (1.02%). In terms of maximum drawdown, FNDE dropped -43.55% vs SPIP's -15.39%.
On 10-year performance, FNDE leads with 11.35% 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, FNDE has performed better with a 11.35% 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 FNDE.
SPIP has the higher dividend yield at 4.76%, compared with 3.68% for FNDE.
FNDE is categorized as Emerging Markets Equities, while SPIP is Inflation-Protected Bonds. FNDE tracks RAFI Fundamental High Liquidity Emerging Markets Index (Net), 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 FNDE and 0.12% for SPIP.
FNDE currently has the higher Sharpe Ratio (1.92 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.
Find the right allocation for FNDE and SPIP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer