FNDX vs. LGLV

Last updated Jun 4, 2026

FNDX (Schwab Fundamental U.S. Large Company Index ETF) and LGLV (SPDR SSGA US Large Cap Low Volatility Index ETF) are both exchange-traded funds - FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index, while LGLV is a Volatility Hedged Equity fund tracking the SSGA US Large Cap Low Volatility (TR). Both are passively managed. Over the past 10 years, FNDX returned 14.26%/yr vs 11.00%/yr for LGLV. A 0.77 correlation means they provide meaningful diversification when combined. FNDX charges 0.25%/yr vs 0.12%/yr for LGLV.

Performance

FNDX vs. LGLV - 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 SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNDX achieves a 14.57% return, which is significantly higher than LGLV's 0.83% return. Over the past 10 years, FNDX has outperformed LGLV with an annualized return of 14.26%, while LGLV has yielded a comparatively lower 11.00% annualized return.

FNDX

• 1D: -0.13%
• 1M: 3.88%
• YTD: 14.57%
• 6M: 14.58%
• 1Y: 32.32%
• 3Y*: 20.90%
• 5Y*: 12.82%
• 10Y*: 14.26%

LGLV

• 1D: -0.06%
• 1M: -1.79%
• YTD: 0.83%
• 6M: 1.07%
• 1Y: 2.87%
• 3Y*: 11.07%
• 5Y*: 7.70%
• 10Y*: 11.00%

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

FNDX vs. LGLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNDX Schwab Fundamental U.S. Large Company Index ETF	14.57%	16.94%	16.77%	18.23%	-6.92%	31.73%	9.12%	28.65%	-7.30%	17.12%
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF	0.83%	8.37%	16.22%	9.19%	-8.17%	27.95%	7.42%	30.83%	0.32%	17.84%

Correlation

The correlation between FNDX and LGLV is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Aug 16, 2013	0.77

The correlation between FNDX and LGLV has been stable across timeframes, ranging from 0.72 to 0.82 - a consistent structural relationship.

FNDX vs. LGLV - Sectors Allocation Comparison

Sectors	FNDX	LGLV
Technology	19.1%	8.8%
Financial Services	14.1%	9.9%
Healthcare	12.0%	7.0%
Energy	10.3%	3.7%
Communication Services	10.1%	4.2%
Industrials	9.3%	18.4%
Consumer Cyclical	9.2%	9.4%
Consumer Defensive	7.4%	5.9%
Basic Materials	3.7%	3.5%
Utilities	3.2%	11.8%
Real Estate	1.8%	17.4%

Return for Risk

FNDX vs. LGLV — Risk / Return Rank

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

FNDX

FNDX Risk / Return Rank: 90
FNDX Sharpe Ratio Rank: 90
FNDX Sortino Ratio Rank: 91
FNDX Omega Ratio Rank: 90
FNDX Calmar Ratio Rank: 89
FNDX Martin Ratio Rank: 90

LGLV

LGLV Risk / Return Rank: 13
LGLV Sharpe Ratio Rank: 13
LGLV Sortino Ratio Rank: 12
LGLV Omega Ratio Rank: 12
LGLV Calmar Ratio Rank: 14
LGLV Martin Ratio Rank: 14

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.

FNDX vs. LGLV - 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 SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV). 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.

	FNDX	LGLV	Difference
Sharpe ratio: Return per unit of total volatility	3.18	0.31	+2.87
Sortino ratio: Return per unit of downside risk	4.47	0.51	+3.95
Omega ratio: Gain probability vs. loss probability	1.59	1.06	+0.53
Calmar ratio: Return relative to maximum drawdown	5.35	0.42	+4.93
Martin ratio: Return relative to average drawdown	20.97	1.08	+19.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNDX vs. LGLV - Sharpe Ratio Comparison

The current FNDX Sharpe Ratio is 3.18, which is higher than the LGLV Sharpe Ratio of 0.31. The chart below compares the historical Sharpe Ratios of FNDX and LGLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FNDX	LGLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.18	0.31	+2.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.60	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.69	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.76	+0.03

Drawdowns

FNDX vs. LGLV - Drawdown Comparison

The maximum FNDX drawdown since its inception was -37.72%, roughly equal to the maximum LGLV drawdown of -36.64%. Use the drawdown chart below to compare losses from any high point for FNDX and LGLV.

Drawdown Indicators

	FNDX	LGLV	Difference
Max Drawdown Largest peak-to-trough decline	-37.72%	-36.64%	-1.08%
Max Drawdown (1Y) Largest decline over 1 year	-6.06%	-6.86%	+0.80%
Max Drawdown (3Y) Largest decline over 3 years	-16.30%	-10.17%	-6.13%
Max Drawdown (5Y) Largest decline over 5 years	-19.06%	-17.49%	-1.57%
Max Drawdown (10Y) Largest decline over 10 years	-37.72%	-36.64%	-1.08%
Current Drawdown Current decline from peak	-0.13%	-6.60%	+6.47%
Average Drawdown Average peak-to-trough decline	-3.55%	-3.21%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	2.67%	-1.12%

Volatility

FNDX vs. LGLV - Volatility Comparison

The current volatility for Schwab Fundamental U.S. Large Company Index ETF (FNDX) is 2.25%, while SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV) has a volatility of 2.42%. This indicates that FNDX experiences smaller price fluctuations and is considered to be less risky than LGLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDX	LGLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.25%	2.42%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	7.25%	6.52%	+0.73%
Volatility (1Y) Calculated over the trailing 1-year period	10.22%	9.20%	+1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	12.91%	+2.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.50%	16.06%	+1.44%

FNDX vs. LGLV - Expense Ratio Comparison

FNDX has a 0.25% expense ratio, which is higher than LGLV's 0.12% 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. LGLV - Dividend Comparison

FNDX's dividend yield for the trailing twelve months is around 1.45%, less than LGLV's 2.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.45%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF	2.04%	1.94%	1.93%	2.03%	1.95%	1.65%	1.98%	1.89%	2.09%	4.39%	2.54%	2.97%

Frequently Asked Questions

Can I hold both FNDX and LGLV in my portfolio?

FNDX and LGLV 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, FNDX or LGLV?

LGLV has higher volatility (2.42%) compared to FNDX (2.25%). In terms of maximum drawdown, FNDX dropped -37.72% vs LGLV's -36.64%.

Which ETF is better, FNDX or LGLV?

On 10-year performance, FNDX leads with 14.26% vs 11.00% for LGLV. On fees, LGLV is cheaper at 0.12% per year. On volatility, FNDX has been the lower-risk option at 2.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNDX or LGLV?

Over the 10-year period, FNDX has performed better with a 14.26% return vs 11.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNDX or LGLV?

LGLV is cheaper with a 0.12% expense ratio, compared with 0.25% for FNDX.

Which ETF pays a higher dividend yield, FNDX or LGLV?

LGLV has the higher dividend yield at 2.04%, compared with 1.45% for FNDX.

What is the main difference between FNDX and LGLV?

FNDX is categorized as Large Cap Value Equities, while LGLV is Volatility Hedged Equity. FNDX tracks RAFI Fundamental High Liquidity US Large Index, while LGLV tracks SSGA US Large Cap Low Volatility (TR). They also come from different issuers: Charles Schwab and State Street. Their fees differ too: 0.25% for FNDX and 0.12% for LGLV.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (3.18 vs 0.31), 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.