FNDF vs. VLUE

Last updated Jun 14, 2026

FNDF (Schwab Fundamental International Equity ETF) and VLUE (iShares MSCI USA Value Factor ETF) are both exchange-traded funds - FNDF is a Foreign Large Cap Equities fund tracking the RAFI Fundamental High Liquidity Developed ex US Large Index (Net), while VLUE is a Large Cap Value Equities fund tracking the MSCI USA Enhanced Value Index. Both are passively managed. Over the past 10 years, FNDF returned 12.34%/yr vs 15.38%/yr for VLUE. A 0.75 correlation means they provide meaningful diversification when combined. FNDF charges 0.25%/yr vs 0.15%/yr for VLUE.

Performance

FNDF vs. VLUE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental International Equity ETF (FNDF) and iShares MSCI USA Value Factor ETF (VLUE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNDF achieves a 19.66% return, which is significantly lower than VLUE's 45.72% return. Over the past 10 years, FNDF has underperformed VLUE with an annualized return of 12.34%, while VLUE has yielded a comparatively higher 15.38% annualized return.

FNDF

• 1D: 0.39%
• 1M: 0.88%
• YTD: 19.66%
• 6M: 21.60%
• 1Y: 41.60%
• 3Y*: 22.69%
• 5Y*: 13.11%
• 10Y*: 12.34%

VLUE

• 1D: 0.40%
• 1M: 7.72%
• YTD: 45.72%
• 6M: 46.53%
• 1Y: 85.32%
• 3Y*: 31.47%
• 5Y*: 16.01%
• 10Y*: 15.38%

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

FNDF vs. VLUE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNDF Schwab Fundamental International Equity ETF	19.66%	40.99%	2.29%	20.22%	-7.78%	14.97%	3.61%	18.46%	-14.21%	23.98%
VLUE iShares MSCI USA Value Factor ETF	45.72%	32.67%	7.25%	14.26%	-14.17%	28.93%	-0.23%	27.20%	-11.13%	21.95%

Correlation

The correlation between FNDF and VLUE is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013	0.75

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

FNDF vs. VLUE - Sectors Allocation Comparison

Sectors	FNDF	VLUE
Financial Services	16.2%	10.5%
Industrials	15.5%	8.2%
Technology	14.4%	40.0%
Basic Materials	11.3%	1.4%
Energy	10.9%	3.6%
Consumer Cyclical	10.8%	10.4%
Consumer Defensive	6.5%	4.4%
Healthcare	5.2%	8.0%
Communication Services	4.9%	9.5%
Utilities	3.5%	2.0%
Real Estate	0.8%	1.8%

Return for Risk

FNDF vs. VLUE — Risk / Return Rank

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

FNDF

FNDF Risk / Return Rank: 85
FNDF Sharpe Ratio Rank: 88
FNDF Sortino Ratio Rank: 85
FNDF Omega Ratio Rank: 86
FNDF Calmar Ratio Rank: 82
FNDF Martin Ratio Rank: 82

VLUE

VLUE Risk / Return Rank: 97
VLUE Sharpe Ratio Rank: 98
VLUE Sortino Ratio Rank: 97
VLUE Omega Ratio Rank: 96
VLUE Calmar Ratio Rank: 97
VLUE Martin Ratio Rank: 97

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. VLUE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental International Equity ETF (FNDF) and iShares MSCI USA Value Factor ETF (VLUE). 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	VLUE	Difference
Sharpe ratio: Return per unit of total volatility	2.53	4.55	-2.02
Sortino ratio: Return per unit of downside risk	3.30	5.75	-2.44
Omega ratio: Gain probability vs. loss probability	1.45	1.77	-0.32
Calmar ratio: Return relative to maximum drawdown	3.82	9.25	-5.43
Martin ratio: Return relative to average drawdown	14.27	39.16	-24.89

FNDF vs. VLUE - Sharpe Ratio Comparison

The current FNDF Sharpe Ratio is 2.53, which is lower than the VLUE Sharpe Ratio of 4.55. The chart below compares the historical Sharpe Ratios of FNDF and VLUE, 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. VLUE - Drawdown Comparison

The maximum FNDF drawdown since its inception was -40.14%, roughly equal to the maximum VLUE drawdown of -39.47%. Use the drawdown chart below to compare losses from any high point for FNDF and VLUE.

Drawdown Indicators

	FNDF	VLUE	Difference
Max Drawdown Largest peak-to-trough decline	-40.14%	-39.47%	-0.67%
Max Drawdown (1Y) Largest decline over 1 year	-10.60%	-9.04%	-1.56%
Max Drawdown (3Y) Largest decline over 3 years	-13.89%	-17.89%	+4.00%
Max Drawdown (5Y) Largest decline over 5 years	-25.56%	-27.12%	+1.56%
Max Drawdown (10Y) Largest decline over 10 years	-40.14%	-39.47%	-0.67%
Current Drawdown Current decline from peak	-1.94%	-2.61%	+0.67%
Average Drawdown Average peak-to-trough decline	-7.63%	-6.01%	-1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	2.13%	+0.71%

Volatility

FNDF vs. VLUE - Volatility Comparison

The current volatility for Schwab Fundamental International Equity ETF (FNDF) is 6.65%, while iShares MSCI USA Value Factor ETF (VLUE) has a volatility of 8.83%. This indicates that FNDF experiences smaller price fluctuations and is considered to be less risky than VLUE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDF	VLUE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.65%	8.83%	-2.18%
Volatility (6M) Calculated over the trailing 6-month period	13.64%	15.31%	-1.67%
Volatility (1Y) Calculated over the trailing 1-year period	16.00%	18.38%	-2.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.35%	18.00%	-1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.71%	19.91%	-2.20%

FNDF vs. VLUE - Expense Ratio Comparison

FNDF has a 0.25% expense ratio, which is higher than VLUE's 0.15% 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. VLUE - Dividend Comparison

FNDF's dividend yield for the trailing twelve months is around 2.87%, more than VLUE's 1.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDF Schwab Fundamental International Equity ETF	2.87%	3.44%	4.01%	3.41%	3.10%	3.54%	2.17%	3.20%	3.47%	2.32%	2.42%	2.08%
VLUE iShares MSCI USA Value Factor ETF	1.43%	2.11%	2.73%	2.66%	3.18%	2.22%	2.42%	2.61%	2.70%	2.14%	2.07%	2.39%

Frequently Asked Questions

Can I hold both FNDF and VLUE in my portfolio?

FNDF and VLUE have a correlation of 0.69, 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 VLUE?

VLUE has higher volatility (8.83%) compared to FNDF (6.65%). In terms of maximum drawdown, FNDF dropped -40.14% vs VLUE's -39.47%.

Which ETF is better, FNDF or VLUE?

On 10-year performance, VLUE leads with 15.38% vs 12.34% for FNDF. On fees, VLUE is cheaper at 0.15% per year. On volatility, FNDF has been the lower-risk option at 6.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNDF or VLUE?

Over the 10-year period, VLUE has performed better with a 15.38% return vs 12.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNDF or VLUE?

VLUE is cheaper with a 0.15% expense ratio, compared with 0.25% for FNDF.

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

FNDF has the higher dividend yield at 2.87%, compared with 1.43% for VLUE.

What is the main difference between FNDF and VLUE?

FNDF is categorized as Foreign Large Cap Equities, while VLUE is Large Cap Value Equities. FNDF tracks RAFI Fundamental High Liquidity Developed ex US Large Index (Net), while VLUE tracks MSCI USA Enhanced Value Index. They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.25% for FNDF and 0.15% for VLUE.

Which has better risk-adjusted returns?

VLUE currently has the higher Sharpe Ratio (4.55 vs 2.53), 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.