FNDF vs. VOO

Last updated Aug 2, 2026

FNDF (Schwab Fundamental International Equity ETF) and VOO (Vanguard S&P 500 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 VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, FNDF returned 11.86%/yr vs 15.14%/yr for VOO. Their 0.76 correlation means they have sometimes moved together and sometimes differently. FNDF charges 0.25%/yr vs 0.03%/yr for VOO.

Performance

FNDF vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental International Equity ETF (FNDF) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNDF achieves a 20.14% return, which is significantly higher than VOO's 10.16% return. Over the past 10 years, FNDF has underperformed VOO with an annualized return of 11.86%, while VOO has yielded a comparatively higher 15.14% annualized return.

FNDF

• 1D: -0.59%
• 1M: 2.41%
• 6M: 11.85%
• YTD: 20.14%
• 1Y: 40.23%
• 3Y*: 21.76%
• 5Y*: 14.24%
• 10Y*: 11.86%
• ALL TIME*: 9.07%

VOO

• 1D: 0.71%
• 1M: 0.26%
• 6M: 8.58%
• YTD: 10.16%
• 1Y: 21.58%
• 3Y*: 19.42%
• 5Y*: 12.83%
• 10Y*: 15.14%
• ALL TIME*: 14.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FNDF Schwab Fundamental International Equity ETF	$75.61M	$73.89M	$78.20M
VOO Vanguard S&P 500 ETF	$3.82B	$3.78B	$5.44B

FNDF vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNDF Schwab Fundamental International Equity ETF	20.14%	40.99%	2.29%	20.22%	-7.78%	14.97%	3.61%	18.46%	-14.21%	23.98%
VOO Vanguard S&P 500 ETF	10.16%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between FNDF and VOO is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.67
Correlation (5Y) Shows whether the relationship held over a longer period.	0.71
Correlation (10Y) Provides a long-term view across more market conditions.	0.74
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013	0.76

The correlation between FNDF and VOO has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.

FNDF vs. VOO - Sectors Allocation Comparison

Sectors	FNDF	VOO
Financial Services	20.2%	11.4%
Industrials	12.8%	8.5%
Technology	11.5%	38.6%
Energy	10.6%	3.0%
Basic Materials	10.0%	1.7%
Consumer Cyclical	8.2%	9.5%
Consumer Defensive	6.2%	4.5%
Healthcare	6.0%	8.9%
Utilities	4.3%	2.2%
Communication Services	3.4%	9.9%
Real Estate	0.9%	1.8%

Return for Risk

FNDF vs. VOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FNDF

FNDF Risk / Return Rank: 91
FNDF Sharpe Ratio Rank: 93
FNDF Sortino Ratio Rank: 91
FNDF Omega Ratio Rank: 92
FNDF Calmar Ratio Rank: 90
FNDF Martin Ratio Rank: 88

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 68
VOO Sortino Ratio Rank: 65
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 64
VOO Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FNDF vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental International Equity ETF (FNDF) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.47	1.53	+0.94
Sortino ratio: Return per unit of downside risk	3.25	2.13	+1.12
Omega ratio: Gain probability vs. loss probability	1.45	1.28	+0.17
Calmar ratio: Return relative to maximum drawdown	3.78	2.21	+1.57
Martin ratio: Return relative to average drawdown	13.23	9.44	+3.80

FNDF vs. VOO - Sharpe Ratio Comparison

The current FNDF Sharpe Ratio is 2.47, which is higher than the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of FNDF and VOO, 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. VOO - Drawdown Comparison

The maximum FNDF drawdown since its inception was -40.14%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for FNDF and VOO.

Drawdown Indicators

	FNDF	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-40.14%	-33.99%	-6.15%
Max Drawdown (1Y) Largest decline over 1 year	-10.60%	-8.90%	-1.70%
Max Drawdown (3Y) Largest decline over 3 years	-13.89%	-18.69%	+4.80%
Max Drawdown (5Y) Largest decline over 5 years	-25.56%	-24.52%	-1.04%
Max Drawdown (10Y) Largest decline over 10 years	-40.14%	-33.99%	-6.15%
Current Drawdown Current decline from peak	-1.55%	-1.38%	-0.17%
Average Drawdown Average peak-to-trough decline	-7.59%	-3.67%	-3.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	2.08%	+0.94%

Volatility

FNDF vs. VOO - Volatility Comparison

Schwab Fundamental International Equity ETF (FNDF) has a higher volatility of 4.54% compared to Vanguard S&P 500 ETF (VOO) at 3.54%. This indicates that FNDF's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDF	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	3.54%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	14.24%	10.10%	+4.14%
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	12.82%	+3.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.34%	16.93%	-0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.43%	18.01%	-0.58%

FNDF vs. VOO - Expense Ratio Comparison

FNDF has a 0.25% expense ratio, which is higher than VOO's 0.03% 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. VOO - Dividend Comparison

FNDF's dividend yield for the trailing twelve months is around 3.03%, more than VOO's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDF Schwab Fundamental International Equity ETF	3.03%	3.44%	4.01%	3.41%	3.10%	3.54%	2.17%	3.20%	3.47%	2.32%	2.42%	2.08%
VOO Vanguard S&P 500 ETF	1.07%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both FNDF and VOO in my portfolio?

FNDF and VOO have a correlation of 0.72, 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 VOO?

FNDF has higher volatility (4.54%) compared to VOO (3.54%). In terms of maximum drawdown, FNDF dropped -40.14% vs VOO's -33.99%.

Which ETF is better, FNDF or VOO?

On 10-year performance, VOO leads with 15.14% vs 11.86% for FNDF. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNDF or VOO?

Over the 10-year period, VOO has performed better with a 15.14% return vs 11.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNDF or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.25% for FNDF.

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

FNDF has the higher dividend yield at 3.03%, compared with 1.07% for VOO.

What is the main difference between FNDF and VOO?

FNDF is categorized as Foreign Large Cap Equities, while VOO is S&P 500. FNDF tracks RAFI Fundamental High Liquidity Developed ex US Large Index (Net), while VOO tracks S&P 500 Index. They also come from different issuers: Charles Schwab and Vanguard. Their fees differ too: 0.25% for FNDF and 0.03% for VOO.

Which has better risk-adjusted returns?

FNDF currently has the higher Sharpe Ratio (2.47 vs 1.53), 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.