FNDF vs. FBALX

Last updated Jun 9, 2026

FNDF (Schwab Fundamental International Equity ETF) and FBALX (Fidelity Balanced Fund) are both funds - FNDF is a Foreign Large Cap Equities fund tracking the RAFI Fundamental High Liquidity Developed ex US Large Index (Net), while FBALX is a Diversified Portfolio fund actively managed by Fidelity. FNDF is passively managed, while FBALX is actively managed. Over the past 10 years, FNDF returned 11.78%/yr vs 11.48%/yr for FBALX. A 0.77 correlation means they provide meaningful diversification when combined. FNDF charges 0.25%/yr vs 0.46%/yr for FBALX.

Performance

FNDF vs. FBALX - Performance Comparison

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

Returns By Period

In the year-to-date period, FNDF achieves a 17.34% return, which is significantly higher than FBALX's 7.96% return. Both investments have delivered pretty close results over the past 10 years, with FNDF having a 11.78% annualized return and FBALX not far behind at 11.48%.

FNDF

• 1D: 0.86%
• 1M: -0.45%
• YTD: 17.34%
• 6M: 20.48%
• 1Y: 39.17%
• 3Y*: 22.42%
• 5Y*: 12.75%
• 10Y*: 11.78%

FBALX

• 1D: -2.10%
• 1M: -0.35%
• YTD: 7.96%
• 6M: 8.36%
• 1Y: 21.65%
• 3Y*: 15.93%
• 5Y*: 8.87%
• 10Y*: 11.48%

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

FNDF vs. FBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNDF Schwab Fundamental International Equity ETF	17.34%	40.99%	2.29%	20.22%	-7.78%	14.97%	3.61%	18.46%	-14.21%	23.98%
FBALX Fidelity Balanced Fund	7.96%	15.11%	16.09%	20.31%	-18.29%	18.27%	22.45%	24.40%	-3.98%	16.52%

Correlation

The correlation between FNDF and FBALX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013	0.77

The correlation between FNDF and FBALX has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.

Return for Risk

FNDF vs. FBALX — Risk / Return Rank

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

FNDF

FNDF Risk / Return Rank: 82
FNDF Sharpe Ratio Rank: 86
FNDF Sortino Ratio Rank: 81
FNDF Omega Ratio Rank: 83
FNDF Calmar Ratio Rank: 79
FNDF Martin Ratio Rank: 80

FBALX

FBALX Risk / Return Rank: 79
FBALX Sharpe Ratio Rank: 79
FBALX Sortino Ratio Rank: 73
FBALX Omega Ratio Rank: 76
FBALX Calmar Ratio Rank: 79
FBALX Martin Ratio Rank: 88

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. FBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental International Equity ETF (FNDF) and Fidelity Balanced Fund (FBALX). 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	FBALX	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.52	+0.01
Sortino ratio: Return per unit of downside risk	3.26	3.48	-0.22
Omega ratio: Gain probability vs. loss probability	1.45	1.48	-0.03
Calmar ratio: Return relative to maximum drawdown	3.71	3.46	+0.26
Martin ratio: Return relative to average drawdown	14.05	16.47	-2.42
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. FBALX - Sharpe Ratio Comparison

The current FNDF Sharpe Ratio is 2.53, which is comparable to the FBALX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of FNDF and FBALX, 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	FBALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.52	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.73	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.90	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.81	-0.29

Drawdowns

FNDF vs. FBALX - Drawdown Comparison

The maximum FNDF drawdown since its inception was -40.14%, smaller than the maximum FBALX drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for FNDF and FBALX.

Drawdown Indicators

	FNDF	FBALX	Difference
Max Drawdown Largest peak-to-trough decline	-40.14%	-43.57%	+3.43%
Max Drawdown (1Y) Largest decline over 1 year	-10.60%	-6.47%	-4.13%
Max Drawdown (3Y) Largest decline over 3 years	-13.89%	-12.88%	-1.01%
Max Drawdown (5Y) Largest decline over 5 years	-25.56%	-22.89%	-2.67%
Max Drawdown (10Y) Largest decline over 10 years	-40.14%	-26.68%	-13.46%
Current Drawdown Current decline from peak	-3.84%	-2.12%	-1.72%
Average Drawdown Average peak-to-trough decline	-7.64%	-4.37%	-3.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	1.35%	+1.45%

Volatility

FNDF vs. FBALX - Volatility Comparison

Schwab Fundamental International Equity ETF (FNDF) has a higher volatility of 5.97% compared to Fidelity Balanced Fund (FBALX) at 3.23%. This indicates that FNDF's price experiences larger fluctuations and is considered to be riskier than FBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDF	FBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.97%	3.23%	+2.74%
Volatility (6M) Calculated over the trailing 6-month period	13.19%	7.15%	+6.04%
Volatility (1Y) Calculated over the trailing 1-year period	15.60%	8.87%	+6.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.28%	12.21%	+4.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.71%	12.79%	+4.92%

FNDF vs. FBALX - Expense Ratio Comparison

FNDF has a 0.25% expense ratio, which is lower than FBALX's 0.46% expense ratio.

Dividends

FNDF vs. FBALX - Dividend Comparison

FNDF's dividend yield for the trailing twelve months is around 2.93%, less than FBALX's 5.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBALX Fidelity Balanced Fund	5.25%	5.69%	5.67%	2.28%	8.06%	9.66%	5.90%	4.24%	10.99%	7.90%	3.07%	7.70%
FNDF Schwab Fundamental International Equity ETF	2.93%	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 FBALX in my portfolio?

FNDF and FBALX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNDF or FBALX?

FNDF has higher volatility (5.97%) compared to FBALX (3.23%). In terms of maximum drawdown, FNDF dropped -40.14% vs FBALX's -43.57%.

Which has better risk-adjusted returns?

FNDF currently has the higher Sharpe Ratio (2.53 vs 2.52), 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.