FNDX vs. DFLVX

Last updated Aug 4, 2026

FNDX (Schwab Fundamental U.S. Large Company Index ETF) and DFLVX (DFA U.S. Large Cap Value Portfolio) are both Large Cap Value Equities funds. FNDX is passively managed, while DFLVX is actively managed. Over the past 10 years, FNDX returned 14.22%/yr vs 12.04%/yr for DFLVX. Their 0.96 correlation means they have historically moved very closely together. FNDX charges 0.25%/yr vs 0.22%/yr for DFLVX.

Performance

FNDX vs. DFLVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental U.S. Large Company Index ETF (FNDX) and DFA U.S. Large Cap Value Portfolio (DFLVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FNDX having a 18.49% return and DFLVX slightly higher at 19.19%. Over the past 10 years, FNDX has outperformed DFLVX with an annualized return of 14.22%, while DFLVX has yielded a comparatively lower 12.04% annualized return.

FNDX

• 1D: 0.79%
• 1M: 2.30%
• 6M: 12.65%
• YTD: 18.49%
• 1Y: 33.39%
• 3Y*: 19.99%
• 5Y*: 14.07%
• 10Y*: 14.22%
• ALL TIME*: 13.17%

DFLVX

• 1D: 0.30%
• 1M: 2.21%
• 6M: 12.84%
• YTD: 19.19%
• 1Y: 33.32%
• 3Y*: 17.36%
• 5Y*: 12.20%
• 10Y*: 12.04%
• ALL TIME*: 10.40%

*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)
DFLVX DFA U.S. Large Cap Value Portfolio	$0.00	$0.00	$0.00
FNDX Schwab Fundamental U.S. Large Company Index ETF	$78.80M	$81.53M	$109.49M

FNDX vs. DFLVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNDX Schwab Fundamental U.S. Large Company Index ETF	18.49%	16.94%	16.77%	18.23%	-6.92%	31.73%	9.12%	28.65%	-7.30%	17.12%
DFLVX DFA U.S. Large Cap Value Portfolio	19.19%	16.36%	12.76%	11.52%	-5.81%	30.40%	-0.58%	25.46%	-11.68%	18.50%

Correlation

The correlation between FNDX and DFLVX is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.96
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013	0.96

The correlation between FNDX and DFLVX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

Return for Risk

FNDX vs. DFLVX — Risk / Return Rank

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

FNDX

FNDX Risk / Return Rank: 96
FNDX Sharpe Ratio Rank: 97
FNDX Sortino Ratio Rank: 96
FNDX Omega Ratio Rank: 96
FNDX Calmar Ratio Rank: 95
FNDX Martin Ratio Rank: 95

DFLVX

DFLVX Risk / Return Rank: 96
DFLVX Sharpe Ratio Rank: 97
DFLVX Sortino Ratio Rank: 95
DFLVX Omega Ratio Rank: 92
DFLVX Calmar Ratio Rank: 97
DFLVX Martin Ratio Rank: 97

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.

FNDX vs. DFLVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental U.S. Large Company Index ETF (FNDX) and DFA U.S. Large Cap Value Portfolio (DFLVX). 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.

	FNDX	DFLVX	Difference
Sharpe ratio: Return per unit of total volatility	3.29	2.87	+0.42
Sortino ratio: Return per unit of downside risk	4.54	4.02	+0.52
Omega ratio: Gain probability vs. loss probability	1.62	1.51	+0.10
Calmar ratio: Return relative to maximum drawdown	5.53	5.47	+0.06
Martin ratio: Return relative to average drawdown	22.12	20.84	+1.28

FNDX vs. DFLVX - Sharpe Ratio Comparison

The current FNDX Sharpe Ratio is 3.29, which is comparable to the DFLVX Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of FNDX and DFLVX, 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

FNDX vs. DFLVX - Drawdown Comparison

The maximum FNDX drawdown since its inception was -37.72%, smaller than the maximum DFLVX drawdown of -65.65%. Use the drawdown chart below to compare losses from any high point for FNDX and DFLVX.

Drawdown Indicators

	FNDX	DFLVX	Difference
Max Drawdown Largest peak-to-trough decline	-37.72%	-65.65%	+27.93%
Max Drawdown (1Y) Largest decline over 1 year	-6.06%	-5.86%	-0.20%
Max Drawdown (3Y) Largest decline over 3 years	-16.30%	-16.64%	+0.34%
Max Drawdown (5Y) Largest decline over 5 years	-19.06%	-19.83%	+0.77%
Max Drawdown (10Y) Largest decline over 10 years	-37.72%	-41.79%	+4.07%
Current Drawdown Current decline from peak	0.00%	-0.40%	+0.40%
Average Drawdown Average peak-to-trough decline	-3.52%	-8.44%	+4.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	1.57%	-0.06%

Volatility

FNDX vs. DFLVX - Volatility Comparison

Schwab Fundamental U.S. Large Company Index ETF (FNDX) and DFA U.S. Large Cap Value Portfolio (DFLVX) have volatilities of 2.44% and 2.52%, 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

	FNDX	DFLVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.44%	2.52%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	7.37%	8.20%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	10.23%	11.21%	-0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	15.77%	-0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.45%	18.29%	-0.84%

FNDX vs. DFLVX - Expense Ratio Comparison

FNDX has a 0.25% expense ratio, which is higher than DFLVX's 0.22% 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

FNDX vs. DFLVX - Dividend Comparison

FNDX's dividend yield for the trailing twelve months is around 1.44%, which matches DFLVX's 1.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFLVX DFA U.S. Large Cap Value Portfolio	1.43%	1.71%	1.87%	3.65%	4.56%	5.90%	1.97%	4.04%	7.83%	6.06%	3.77%	6.52%
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.44%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%

Frequently Asked Questions

Can I hold both FNDX and DFLVX in my portfolio?

FNDX and DFLVX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNDX or DFLVX?

DFLVX has higher volatility (2.52%) compared to FNDX (2.44%). In terms of maximum drawdown, FNDX dropped -37.72% vs DFLVX's -65.65%.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (3.29 vs 2.87), 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.