FNDF vs. DFAI

Last updated Jun 4, 2026

FNDF (Schwab Fundamental International Large Company Index ETF) and DFAI (Dimensional International Core Equity Market ETF) are both exchange-traded funds - FNDF is a Foreign Large Cap Equities fund tracking the Russell Fundamental Developed ex-U.S. Large Company Index, while DFAI is a Global Equities fund actively managed by Dimensional. FNDF is passively managed, while DFAI is actively managed. Over the past 5 years, FNDF returned 13.35%/yr vs 9.36%/yr for DFAI. With a 0.97 correlation, they move nearly in lockstep. FNDF charges 0.25%/yr vs 0.18%/yr for DFAI.

Performance

FNDF vs. DFAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental International Large Company Index ETF (FNDF) and Dimensional International Core Equity Market ETF (DFAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNDF achieves a 21.21% return, which is significantly higher than DFAI's 9.16% return.

FNDF

• 1D: -0.67%
• 1M: 6.97%
• YTD: 21.21%
• 6M: 24.72%
• 1Y: 44.71%
• 3Y*: 24.10%
• 5Y*: 13.35%
• 10Y*: 11.93%

DFAI

• 1D: -0.84%
• 1M: 2.67%
• YTD: 9.16%
• 6M: 11.79%
• 1Y: 24.65%
• 3Y*: 18.12%
• 5Y*: 9.36%
• 10Y*: —

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

FNDF vs. DFAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FNDF Schwab Fundamental International Large Company Index ETF	21.21%	40.99%	2.29%	20.22%	-7.78%	14.97%	6.88%
DFAI Dimensional International Core Equity Market ETF	9.16%	34.04%	4.68%	17.60%	-12.95%	13.86%	6.13%

Correlation

The correlation between FNDF and DFAI is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Nov 19, 2020	0.97

The correlation between FNDF and DFAI has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

FNDF vs. DFAI - Sectors Allocation Comparison

Sectors	FNDF	DFAI
Financial Services	16.7%	22.5%
Industrials	15.9%	19.5%
Energy	12.3%	6.8%
Basic Materials	11.3%	8.8%
Technology	11.1%	9.3%
Consumer Cyclical	10.7%	8.6%
Consumer Defensive	6.9%	6.4%
Healthcare	5.5%	8.8%
Communication Services	4.9%	3.7%
Utilities	3.8%	4.0%
Real Estate	0.9%	1.5%

Return for Risk

FNDF vs. DFAI — 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: 85
FNDF Omega Ratio Rank: 85
FNDF Calmar Ratio Rank: 80
FNDF Martin Ratio Rank: 80

DFAI

DFAI Risk / Return Rank: 49
DFAI Sharpe Ratio Rank: 50
DFAI Sortino Ratio Rank: 50
DFAI Omega Ratio Rank: 50
DFAI Calmar Ratio Rank: 45
DFAI Martin Ratio Rank: 52

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. DFAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental International Large Company Index ETF (FNDF) and Dimensional International Core Equity Market ETF (DFAI). 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.

	FNDF	DFAI	Difference
Sharpe ratio Return per unit of total volatility	2.99	1.76	+1.23
Sortino ratio Return per unit of downside risk	3.89	2.49	+1.40
Omega ratio Gain probability vs. loss probability	1.53	1.32	+0.21
Calmar ratio Return relative to maximum drawdown	4.24	2.26	+1.98
Martin ratio Return relative to average drawdown	16.19	8.87	+7.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNDF vs. DFAI - Sharpe Ratio Comparison

The current FNDF Sharpe Ratio is 2.99, which is higher than the DFAI Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of FNDF and DFAI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FNDF	DFAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.99	1.76	+1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.59	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.78	-0.25

Drawdowns

FNDF vs. DFAI - Drawdown Comparison

The maximum FNDF drawdown since its inception was -40.14%, which is greater than DFAI's maximum drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for FNDF and DFAI.

Drawdown Indicators

	FNDF	DFAI	Difference
Max Drawdown Largest peak-to-trough decline	-40.14%	-27.44%	-12.70%
Max Drawdown (1Y) Largest decline over 1 year	-10.60%	-10.95%	+0.35%
Max Drawdown (3Y) Largest decline over 3 years	-13.89%	-13.25%	-0.64%
Max Drawdown (5Y) Largest decline over 5 years	-25.56%	-27.44%	+1.88%
Max Drawdown (10Y) Largest decline over 10 years	-40.14%	—	—
Current Drawdown Current decline from peak	-0.67%	-1.61%	+0.94%
Average Drawdown Average peak-to-trough decline	-7.64%	-5.12%	-2.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	2.79%	-0.02%

Volatility

FNDF vs. DFAI - Volatility Comparison

Schwab Fundamental International Large Company Index ETF (FNDF) has a higher volatility of 5.26% compared to Dimensional International Core Equity Market ETF (DFAI) at 4.45%. This indicates that FNDF's price experiences larger fluctuations and is considered to be riskier than DFAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDF	DFAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	4.45%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	12.53%	11.68%	+0.85%
Volatility (1Y) Calculated over the trailing 1-year period	15.06%	14.08%	+0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.18%	15.92%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	15.70%	+1.97%

FNDF vs. DFAI - Expense Ratio Comparison

FNDF has a 0.25% expense ratio, which is higher than DFAI's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FNDF vs. DFAI - Dividend Comparison

FNDF's dividend yield for the trailing twelve months is around 2.84%, more than DFAI's 2.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFAI Dimensional International Core Equity Market ETF	2.26%	2.45%	2.72%	2.64%	2.72%	2.06%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%
FNDF Schwab Fundamental International Large Company Index ETF	2.84%	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 DFAI in my portfolio?

With a correlation of 0.95, FNDF and DFAI 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 DFAI?

FNDF has higher volatility (5.26%) compared to DFAI (4.45%). In terms of maximum drawdown, FNDF dropped -40.14% vs DFAI's -27.44%.

Which ETF is better, FNDF or DFAI?

On 5-year performance, FNDF leads with 13.35% vs 9.36% for DFAI. On fees, DFAI is cheaper at 0.18% per year. On volatility, DFAI has been the lower-risk option at 4.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNDF or DFAI?

Over the 5-year period, FNDF has performed better with a 13.35% return vs 9.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNDF or DFAI?

DFAI is cheaper with a 0.18% expense ratio, compared with 0.25% for FNDF.

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

FNDF has the higher dividend yield at 2.84%, compared with 2.26% for DFAI.

What is the main difference between FNDF and DFAI?

FNDF is categorized as Foreign Large Cap Equities, while DFAI is Global Equities. They also come from different issuers: Charles Schwab and Dimensional. Their fees differ too: 0.25% for FNDF and 0.18% for DFAI.

Which has better risk-adjusted returns?

FNDF currently has the higher Sharpe Ratio (2.99 vs 1.76), 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.