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FNDF vs. XIC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FNDF vs. XIC.TO

Last updated Jun 14, 2026

FNDF (Schwab Fundamental International Equity ETF) and XIC.TO (iShares Core S&P/TSX Capped Composite Index 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 XIC.TO is a Canada Equities fund tracking the S&P/TSX Capped Composite Index. Both are passively managed. Over the past 10 years, FNDF returned 12.34%/yr vs 11.83%/yr for XIC.TO. A 0.61 correlation means they provide meaningful diversification when combined. FNDF charges 0.25%/yr vs 0.06%/yr for XIC.TO.

Performance

FNDF vs. XIC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental International Equity ETF (FNDF) and iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

FNDF is traded in USD, while XIC.TO is traded in CAD. To make them comparable, the XIC.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FNDF achieves a 19.66% return, which is significantly higher than XIC.TO's 9.05% return. Both investments have delivered pretty close results over the past 10 years, with FNDF having a 12.34% annualized return and XIC.TO not far behind at 11.83%.

FNDF

1D
0.39%
1M
2.91%
YTD
19.66%
6M
21.60%
1Y
41.60%
3Y*
22.69%
5Y*
13.11%
10Y*
12.34%

XIC.TO

1D
0.61%
1M
1.62%
YTD
9.05%
6M
10.41%
1Y
31.21%
3Y*
22.03%
5Y*
11.31%
10Y*
11.83%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FNDF vs. XIC.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETF		9.05%37.80%12.00%14.46%-11.43%23.49%8.18%28.04%-15.80%16.91%

Correlation

The correlation between FNDF and XIC.TO is 0.57, 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

0.57

Correlation (3Y)
Calculated over the trailing 3-year period

0.63

Correlation (5Y)
Calculated over the trailing 5-year period

0.66

Correlation (10Y)
Calculated over the trailing 10-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Aug 15, 2013

0.61

The correlation between FNDF and XIC.TO has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.

FNDF vs. XIC.TO - Sectors Allocation Comparison

Sectors
FNDF
XIC.TO

Financial Services

16.2%
34.4%

Industrials

15.5%
10.3%

Technology

14.4%
7.2%

Basic Materials

11.3%
16.4%

Energy

10.9%
17.5%

Consumer Cyclical

10.8%
3.8%

Consumer Defensive

6.5%
3.0%

Healthcare

5.2%
0.1%

Communication Services

4.9%
1.8%

Utilities

3.5%
2.9%

Real Estate

0.8%
1.5%

Financial Services

FNDF
16.2%
XIC.TO
34.4%

Industrials

FNDF
15.5%
XIC.TO
10.3%

Technology

FNDF
14.4%
XIC.TO
7.2%

Basic Materials

FNDF
11.3%
XIC.TO
16.4%

Energy

FNDF
10.9%
XIC.TO
17.5%

Consumer Cyclical

FNDF
10.8%
XIC.TO
3.8%

Consumer Defensive

FNDF
6.5%
XIC.TO
3.0%

Healthcare

FNDF
5.2%
XIC.TO
0.1%

Communication Services

FNDF
4.9%
XIC.TO
1.8%

Utilities

FNDF
3.5%
XIC.TO
2.9%

Real Estate

FNDF
0.8%
XIC.TO
1.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Schwab Fundamental International Equity ETF

iShares Core S&P/TSX Capped Composite Index ETF

Often compared with FNDF:
FNDF vs. SCHFFNDF vs. VXUSFNDF vs. DFIVFNDF vs. VEAFNDF vs. FIVAFNDF vs. VOOFNDF vs. AVIV
Often compared with XIC.TO:
XIC.TO vs. XIU.TOXIC.TO vs. VDY.TOXIC.TO vs. ZCN.TOXIC.TO vs. VCE.TOXIC.TO vs. XEF.TOXIC.TO vs. VEQT.TOXIC.TO vs. VO

Return for Risk

FNDF vs. XIC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FNDF
FNDF Risk / Return Rank: 8585
Overall Rank
FNDF Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
FNDF Sortino Ratio Rank: 8585
Sortino Ratio Rank
FNDF Omega Ratio Rank: 8686
Omega Ratio Rank
FNDF Calmar Ratio Rank: 8282
Calmar Ratio Rank
FNDF Martin Ratio Rank: 8282
Martin Ratio Rank
XIC.TO
XIC.TO Risk / Return Rank: 8787
Overall Rank
XIC.TO Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
XIC.TO Sortino Ratio Rank: 8787
Sortino Ratio Rank
XIC.TO Omega Ratio Rank: 8787
Omega Ratio Rank
XIC.TO Calmar Ratio Rank: 8181
Calmar Ratio Rank
XIC.TO Martin Ratio Rank: 8989
Martin Ratio Rank
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. XIC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental International Equity ETF (FNDF) and iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO). 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.

FNDFXIC.TODifference
Sharpe ratioReturn per unit of total volatility
2.53
2.28

+0.25

Sortino ratioReturn per unit of downside risk
3.30
2.98

+0.32

Omega ratioGain probability vs. loss probability

1.45

1.40

+0.05

Calmar ratioReturn relative to maximum drawdown

3.82

3.25

+0.57

Martin ratioReturn relative to average drawdown

14.27

13.88

+0.39

FNDF vs. XIC.TO - Sharpe Ratio Comparison

The current FNDF Sharpe Ratio is 2.53, which is comparable to the XIC.TO Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of FNDF and XIC.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FNDF vs. XIC.TO - Drawdown Comparison

The maximum FNDF drawdown since its inception was -40.14%, smaller than the maximum XIC.TO drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for FNDF and XIC.TO.

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Drawdown Indicators

FNDFXIC.TODifference

Max Drawdown

Largest peak-to-trough decline

-40.14%

-59.65%

+19.51%

Max Drawdown (1Y)

Largest decline over 1 year

-10.60%

-9.73%

-0.87%

Max Drawdown (3Y)

Largest decline over 3 years

-13.89%

-12.76%

-1.13%

Max Drawdown (5Y)

Largest decline over 5 years

-25.56%

-24.02%

-1.54%

Max Drawdown (10Y)

Largest decline over 10 years

-40.14%

-42.59%

+2.45%

Current Drawdown

Current decline from peak

-1.94%

-1.53%

-0.41%

Average Drawdown

Average peak-to-trough decline

-7.63%

-10.99%

+3.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.84%

2.27%

+0.57%

Volatility

FNDF vs. XIC.TO - Volatility Comparison

Schwab Fundamental International Equity ETF (FNDF) has a higher volatility of 6.65% compared to iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) at 4.50%. This indicates that FNDF's price experiences larger fluctuations and is considered to be riskier than XIC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FNDFXIC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.65%

4.50%

+2.15%

Volatility (6M)

Calculated over the trailing 6-month period

13.64%

11.13%

+2.51%

Volatility (1Y)

Calculated over the trailing 1-year period

16.00%

13.83%

+2.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.35%

14.84%

+1.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.71%

16.48%

+1.23%

FNDF vs. XIC.TO - Expense Ratio Comparison

FNDF has a 0.25% expense ratio, which is higher than XIC.TO's 0.06% 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. XIC.TO - Dividend Comparison

FNDF's dividend yield for the trailing twelve months is around 2.87%, more than XIC.TO's 2.01% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETF		2.01%2.23%2.64%2.96%3.10%2.45%3.03%3.01%3.19%2.49%2.72%3.21%

Frequently Asked Questions

FNDF and XIC.TO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XIC.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XIC.TO is cheaper with a 0.06% expense ratio, compared with 0.25% for FNDF.

FNDF is categorized as Foreign Large Cap Equities, while XIC.TO is Canada Equities. FNDF tracks RAFI Fundamental High Liquidity Developed ex US Large Index (Net), while XIC.TO tracks S&P/TSX Capped Composite Index. They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.25% for FNDF and 0.06% for XIC.TO.

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