FNDF vs. AVNM

Last updated Jun 18, 2026

FNDF (Schwab Fundamental International Equity ETF) and AVNM (Avantis All International Markets Equity ETF) are both Foreign Large Cap Equities funds. FNDF is passively managed, while AVNM is actively managed. Over the past year, FNDF returned 42.19% vs 35.12% for AVNM. With a 0.96 correlation, they move nearly in lockstep. FNDF charges 0.25%/yr vs 0.31%/yr for AVNM.

Performance

FNDF vs. AVNM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental International Equity ETF (FNDF) and Avantis All International Markets Equity ETF (AVNM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNDF achieves a 19.13% return, which is significantly higher than AVNM's 14.94% return.

FNDF

• 1D: -1.01%
• 1M: 1.74%
• YTD: 19.13%
• 6M: 21.69%
• 1Y: 42.19%
• 3Y*: 22.12%
• 5Y*: 13.97%
• 10Y*: 12.05%

AVNM

• 1D: -0.65%
• 1M: 2.62%
• YTD: 14.94%
• 6M: 17.92%
• 1Y: 35.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FNDF vs. AVNM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FNDF Schwab Fundamental International Equity ETF	19.13%	40.99%	2.29%	7.87%
AVNM Avantis All International Markets Equity ETF	14.94%	38.30%	5.52%	8.60%

Correlation

The correlation between FNDF and AVNM is 0.95, 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	0.95
Correlation (All Time) Calculated using the full available price history since Jun 29, 2023	0.96

The correlation between FNDF and AVNM has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

FNDF vs. AVNM - Sectors Allocation Comparison

Sectors	FNDF	AVNM
Financial Services	16.2%	22.5%
Industrials	15.5%	17.1%
Technology	14.4%	15.0%
Basic Materials	11.3%	11.4%
Energy	10.9%	7.7%
Consumer Cyclical	10.8%	9.9%
Consumer Defensive	6.5%	3.7%
Healthcare	5.2%	4.2%
Communication Services	4.9%	4.4%
Utilities	3.5%	2.6%
Real Estate	0.8%	1.5%

Return for Risk

FNDF vs. AVNM — Risk / Return Rank

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

FNDF

FNDF Risk / Return Rank: 84
FNDF Sharpe Ratio Rank: 88
FNDF Sortino Ratio Rank: 84
FNDF Omega Ratio Rank: 85
FNDF Calmar Ratio Rank: 82
FNDF Martin Ratio Rank: 81

AVNM

AVNM Risk / Return Rank: 72
AVNM Sharpe Ratio Rank: 76
AVNM Sortino Ratio Rank: 72
AVNM Omega Ratio Rank: 76
AVNM Calmar Ratio Rank: 65
AVNM Martin Ratio Rank: 68

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.

FNDF vs. AVNM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental International Equity ETF (FNDF) and Avantis All International Markets Equity ETF (AVNM). 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.

	FNDF	AVNM	Difference
Sharpe ratio: Return per unit of total volatility	2.66	2.25	+0.41
Sortino ratio: Return per unit of downside risk	3.45	2.99	+0.46
Omega ratio: Gain probability vs. loss probability	1.48	1.41	+0.06
Calmar ratio: Return relative to maximum drawdown	4.00	3.04	+0.96
Martin ratio: Return relative to average drawdown	14.95	11.71	+3.24

FNDF vs. AVNM - Sharpe Ratio Comparison

The current FNDF Sharpe Ratio is 2.66, which is comparable to the AVNM Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of FNDF and AVNM, 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

FNDF vs. AVNM - Drawdown Comparison

The maximum FNDF drawdown since its inception was -40.14%, which is greater than AVNM's maximum drawdown of -14.03%. Use the drawdown chart below to compare losses from any high point for FNDF and AVNM.

Drawdown Indicators

	FNDF	AVNM	Difference
Max Drawdown Largest peak-to-trough decline	-40.14%	-14.03%	-26.11%
Max Drawdown (1Y) Largest decline over 1 year	-10.60%	-11.59%	+0.99%
Max Drawdown (3Y) Largest decline over 3 years	-13.89%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.56%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.14%	—	—
Current Drawdown Current decline from peak	-2.37%	-1.03%	-1.34%
Average Drawdown Average peak-to-trough decline	-7.63%	-2.54%	-5.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	3.01%	-0.18%

Volatility

FNDF vs. AVNM - Volatility Comparison

Schwab Fundamental International Equity ETF (FNDF) and Avantis All International Markets Equity ETF (AVNM) have volatilities of 6.43% and 6.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDF	AVNM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.43%	6.55%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	13.69%	13.73%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	16.01%	15.76%	+0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.36%	15.11%	+1.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.70%	15.11%	+2.59%

FNDF vs. AVNM - Expense Ratio Comparison

FNDF has a 0.25% expense ratio, which is lower than AVNM's 0.31% expense ratio.

Dividends

FNDF vs. AVNM - Dividend Comparison

FNDF's dividend yield for the trailing twelve months is around 2.89%, less than AVNM's 3.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVNM Avantis All International Markets Equity ETF	3.54%	2.76%	3.51%	1.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FNDF Schwab Fundamental International Equity ETF	2.89%	3.44%	4.01%	3.41%	3.10%	3.54%	2.17%	3.20%	3.47%	2.32%	2.42%	2.08%

Frequently Asked Questions

Can I hold both FNDF and AVNM in my portfolio?

With a correlation of 0.95, FNDF and AVNM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FNDF or AVNM?

AVNM has higher volatility (6.55%) compared to FNDF (6.43%). In terms of maximum drawdown, FNDF dropped -40.14% vs AVNM's -14.03%.

Which ETF is better, FNDF or AVNM?

On 1-year performance, FNDF leads with 42.19% vs 35.12% for AVNM. On fees, FNDF is cheaper at 0.25% per year. On volatility, FNDF has been the lower-risk option at 6.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNDF or AVNM?

Over the 1-year period, FNDF has performed better with a 42.19% return vs 35.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNDF or AVNM?

FNDF is cheaper with a 0.25% expense ratio, compared with 0.31% for AVNM.

Which ETF pays a higher dividend yield, FNDF or AVNM?

AVNM has the higher dividend yield at 3.54%, compared with 2.89% for FNDF.

What is the main difference between FNDF and AVNM?

They also come from different issuers: Charles Schwab and Avantis. Their fees differ too: 0.25% for FNDF and 0.31% for AVNM.

Which has better risk-adjusted returns?

FNDF currently has the higher Sharpe Ratio (2.66 vs 2.25), 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.