FNDF vs. FEMS

Last updated Apr 2, 2026

Compare and contrast key facts about Schwab Fundamental International Large Company Index ETF (FNDF) and First Trust Emerging Markets Small Cap AlphaDEX Fund (FEMS).

FNDF and FEMS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FNDF is a passively managed fund by Charles Schwab that tracks the performance of the Russell Fundamental Developed ex-U.S. Large Company Index. It was launched on Aug 15, 2013. FEMS is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX EM Small Cap Index. It was launched on Feb 15, 2012. Both FNDF and FEMS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FNDF vs. FEMS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental International Large Company Index ETF (FNDF) and First Trust Emerging Markets Small Cap AlphaDEX Fund (FEMS). The values are adjusted to include any dividend payments, if applicable.

FNDF vs. FEMS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNDF Schwab Fundamental International Large Company Index ETF	9.44%	40.99%	2.29%	20.22%	-7.78%	14.97%	3.61%	18.46%	-14.21%	23.98%
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund	9.43%	16.48%	1.88%	3.55%	1.85%	3.76%	7.85%	28.88%	-22.63%	49.02%

Returns By Period

The year-to-date returns for both stocks are quite close, with FNDF having a 9.44% return and FEMS slightly lower at 9.43%. Over the past 10 years, FNDF has outperformed FEMS with an annualized return of 11.21%, while FEMS has yielded a comparatively lower 9.05% annualized return.

FNDF

• 1D: 1.12%
• 1M: -4.59%
• YTD: 9.44%
• 6M: 17.74%
• 1Y: 41.49%
• 3Y*: 20.83%
• 5Y*: 12.69%
• 10Y*: 11.21%

FEMS

• 1D: 0.46%
• 1M: -3.03%
• YTD: 9.43%
• 6M: 5.45%
• 1Y: 27.92%
• 3Y*: 11.96%
• 5Y*: 5.64%
• 10Y*: 9.05%

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

FNDF vs. FEMS - Expense Ratio Comparison

FNDF has a 0.25% expense ratio, which is lower than FEMS's 0.80% expense ratio.

FEMS

First Trust Emerging Markets Small Cap AlphaDEX Fund

FNDF

Schwab Fundamental International Large Company Index ETF

Return for Risk

FNDF vs. FEMS — Risk / Return Rank

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

FNDF

FNDF Risk / Return Rank: 94
FNDF Sharpe Ratio Rank: 94
FNDF Sortino Ratio Rank: 95
FNDF Omega Ratio Rank: 95
FNDF Calmar Ratio Rank: 94
FNDF Martin Ratio Rank: 94

FEMS

FEMS Risk / Return Rank: 78
FEMS Sharpe Ratio Rank: 81
FEMS Sortino Ratio Rank: 79
FEMS Omega Ratio Rank: 78
FEMS Calmar Ratio Rank: 76
FEMS Martin Ratio Rank: 75

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. FEMS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental International Large Company Index ETF (FNDF) and First Trust Emerging Markets Small Cap AlphaDEX Fund (FEMS). 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	FEMS	Difference
Sharpe ratio Return per unit of total volatility	2.38	1.60	+0.78
Sortino ratio Return per unit of downside risk	3.10	2.14	+0.96
Omega ratio Gain probability vs. loss probability	1.48	1.31	+0.16
Calmar ratio Return relative to maximum drawdown	3.77	2.19	+1.58
Martin ratio Return relative to average drawdown	14.62	8.52	+6.10
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. FEMS - Sharpe Ratio Comparison

The current FNDF Sharpe Ratio is 2.38, which is higher than the FEMS Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of FNDF and FEMS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FNDF	FEMS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	1.60	+0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.32	+0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.45	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.27	+0.23

Correlation

The correlation between FNDF and FEMS is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FNDF vs. FEMS - Dividend Comparison

FNDF's dividend yield for the trailing twelve months is around 3.14%, less than FEMS's 4.38% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDF Schwab Fundamental International Large Company Index ETF	3.14%	3.44%	4.01%	3.41%	3.10%	3.54%	2.17%	3.20%	3.47%	2.32%	2.42%	2.08%
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund	4.38%	4.27%	3.97%	4.65%	4.55%	6.25%	2.90%	4.37%	4.68%	3.39%	2.42%	3.28%

Drawdowns

FNDF vs. FEMS - Drawdown Comparison

The maximum FNDF drawdown since its inception was -40.14%, smaller than the maximum FEMS drawdown of -47.85%. Use the drawdown chart below to compare losses from any high point for FNDF and FEMS.

Drawdown Indicators

	FNDF	FEMS	Difference
Max Drawdown Largest peak-to-trough decline	-40.14%	-47.85%	+7.71%
Max Drawdown (1Y) Largest decline over 1 year	-11.08%	-13.24%	+2.16%
Max Drawdown (5Y) Largest decline over 5 years	-25.56%	-30.40%	+4.84%
Max Drawdown (10Y) Largest decline over 10 years	-40.14%	-47.85%	+7.71%
Current Drawdown Current decline from peak	-6.22%	-4.11%	-2.11%
Average Drawdown Average peak-to-trough decline	-7.72%	-17.58%	+9.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	3.41%	-0.55%

Volatility

FNDF vs. FEMS - Volatility Comparison

Schwab Fundamental International Large Company Index ETF (FNDF) and First Trust Emerging Markets Small Cap AlphaDEX Fund (FEMS) have volatilities of 7.16% and 6.95%, 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	FEMS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.16%	6.95%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	11.46%	11.77%	-0.31%
Volatility (1Y) Calculated over the trailing 1-year period	17.50%	17.55%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.05%	17.86%	-1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.64%	19.96%	-2.32%