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FNDX vs. PRF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FNDX vs. PRF

Last updated Jun 13, 2026

FNDX (Schwab Fundamental U.S. Large Company Index ETF) and PRF (Invesco RAFI US 1000 ETF) are both Large Cap Value Equities funds - FNDX tracks the RAFI Fundamental High Liquidity US Large Index while PRF tracks the RAFI Fundamental Select US 1000 Index. Both are passively managed. Over the past 10 years, FNDX returned 14.45%/yr vs 13.91%/yr for PRF. With a 0.99 correlation, they move nearly in lockstep. FNDX charges 0.25%/yr vs 0.34%/yr for PRF.

Performance

FNDX vs. PRF - 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 Invesco RAFI US 1000 ETF (PRF). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with FNDX having a 15.49% return and PRF slightly higher at 15.65%. Both investments have delivered pretty close results over the past 10 years, with FNDX having a 14.45% annualized return and PRF not far behind at 13.91%.

FNDX

1D
0.90%
1M
2.66%
YTD
15.49%
6M
14.86%
1Y
31.57%
3Y*
20.28%
5Y*
13.11%
10Y*
14.45%

PRF

1D
0.88%
1M
2.68%
YTD
15.65%
6M
15.18%
1Y
32.18%
3Y*
20.72%
5Y*
12.67%
10Y*
13.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FNDX vs. PRF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FNDX
Schwab Fundamental U.S. Large Company Index ETF		15.49%16.94%16.77%18.23%-6.92%31.73%9.12%28.65%-7.30%17.12%
PRF
Invesco RAFI US 1000 ETF		15.65%18.33%16.73%15.72%-7.79%31.12%7.78%27.42%-8.71%16.01%

Correlation

The correlation between FNDX and PRF is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.99

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

0.99

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

0.99

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

0.99

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

0.99

The correlation between FNDX and PRF has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

FNDX vs. PRF - Sectors Allocation Comparison

Sectors
FNDX
PRF

Technology

19.1%
20.9%

Financial Services

14.1%
15.4%

Healthcare

12.0%
11.7%

Energy

10.3%
8.2%

Communication Services

10.1%
10.2%

Industrials

9.3%
9.2%

Consumer Cyclical

9.2%
9.1%

Consumer Defensive

7.4%
6.3%

Basic Materials

3.7%
3.4%

Utilities

3.2%
3.1%

Real Estate

1.8%
2.5%

Technology

FNDX
19.1%
PRF
20.9%

Financial Services

FNDX
14.1%
PRF
15.4%

Healthcare

FNDX
12.0%
PRF
11.7%

Energy

FNDX
10.3%
PRF
8.2%

Communication Services

FNDX
10.1%
PRF
10.2%

Industrials

FNDX
9.3%
PRF
9.2%

Consumer Cyclical

FNDX
9.2%
PRF
9.1%

Consumer Defensive

FNDX
7.4%
PRF
6.3%

Basic Materials

FNDX
3.7%
PRF
3.4%

Utilities

FNDX
3.2%
PRF
3.1%

Real Estate

FNDX
1.8%
PRF
2.5%

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 U.S. Large Company Index ETF

Invesco RAFI US 1000 ETF

Often compared with FNDX:
FNDX vs. SCHXFNDX vs. VOOFNDX vs. FNDBFNDX vs. SPYFNDX vs. SCHDFNDX vs. SWPPXFNDX vs. VTI
Often compared with PRF:
PRF vs. SPYPRF vs. VOOPRF vs. RSPPRF vs. PFMPRF vs. VTVPRF vs. SCHDPRF vs. PXF

Return for Risk

FNDX vs. PRF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FNDX
FNDX Risk / Return Rank: 9393
Overall Rank
FNDX Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
FNDX Sortino Ratio Rank: 9393
Sortino Ratio Rank
FNDX Omega Ratio Rank: 9292
Omega Ratio Rank
FNDX Calmar Ratio Rank: 9191
Calmar Ratio Rank
FNDX Martin Ratio Rank: 9292
Martin Ratio Rank
PRF
PRF Risk / Return Rank: 9292
Overall Rank
PRF Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
PRF Sortino Ratio Rank: 9393
Sortino Ratio Rank
PRF Omega Ratio Rank: 9292
Omega Ratio Rank
PRF Calmar Ratio Rank: 9090
Calmar Ratio Rank
PRF Martin Ratio Rank: 9292
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.

FNDX vs. PRF - 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 Invesco RAFI US 1000 ETF (PRF). 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.

FNDXPRFDifference
Sharpe ratioReturn per unit of total volatility
3.03
2.95

+0.08

Sortino ratioReturn per unit of downside risk
4.21
4.07

+0.14

Omega ratioGain probability vs. loss probability

1.56

1.54

+0.02

Calmar ratioReturn relative to maximum drawdown

5.23

4.90

+0.32

Martin ratioReturn relative to average drawdown

20.31

20.07

+0.24

FNDX vs. PRF - Sharpe Ratio Comparison

The current FNDX Sharpe Ratio is 3.03, which is comparable to the PRF Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of FNDX and PRF, 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

FNDX vs. PRF - Drawdown Comparison

The maximum FNDX drawdown since its inception was -37.72%, smaller than the maximum PRF drawdown of -60.35%. Use the drawdown chart below to compare losses from any high point for FNDX and PRF.

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Drawdown Indicators

FNDXPRFDifference

Max Drawdown

Largest peak-to-trough decline

-37.72%

-60.35%

+22.63%

Max Drawdown (1Y)

Largest decline over 1 year

-6.06%

-6.59%

+0.53%

Max Drawdown (3Y)

Largest decline over 3 years

-16.30%

-15.82%

-0.48%

Max Drawdown (5Y)

Largest decline over 5 years

-19.06%

-19.72%

+0.66%

Max Drawdown (10Y)

Largest decline over 10 years

-37.72%

-38.16%

+0.44%

Current Drawdown

Current decline from peak

0.00%

-0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.55%

-6.92%

+3.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.56%

1.61%

-0.05%

Volatility

FNDX vs. PRF - Volatility Comparison

The current volatility for Schwab Fundamental U.S. Large Company Index ETF (FNDX) is 3.18%, while Invesco RAFI US 1000 ETF (PRF) has a volatility of 3.60%. This indicates that FNDX experiences smaller price fluctuations and is considered to be less risky than PRF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FNDXPRFDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.18%

3.60%

-0.42%

Volatility (6M)

Calculated over the trailing 6-month period

7.58%

8.17%

-0.59%

Volatility (1Y)

Calculated over the trailing 1-year period

10.45%

10.95%

-0.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.21%

15.23%

-0.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.51%

17.68%

-0.17%

FNDX vs. PRF - Expense Ratio Comparison

FNDX has a 0.25% expense ratio, which is lower than PRF's 0.34% expense ratio.

Dividends

FNDX vs. PRF - Dividend Comparison

FNDX's dividend yield for the trailing twelve months is around 1.44%, more than PRF's 1.37% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
PRF
Invesco RAFI US 1000 ETF		1.37%1.59%1.78%1.84%2.01%1.58%1.97%1.99%2.25%1.58%2.17%2.25%

Frequently Asked Questions

With a correlation of 0.99, FNDX and PRF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

PRF has higher volatility (3.60%) compared to FNDX (3.18%). In terms of maximum drawdown, FNDX dropped -37.72% vs PRF's -60.35%.

On 10-year performance, FNDX leads with 14.45% vs 13.91% for PRF. On fees, FNDX is cheaper at 0.25% per year. On volatility, FNDX has been the lower-risk option at 3.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, FNDX has performed better with a 14.45% return vs 13.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FNDX is cheaper with a 0.25% expense ratio, compared with 0.34% for PRF.

FNDX has the higher dividend yield at 1.44%, compared with 1.37% for PRF.

FNDX tracks RAFI Fundamental High Liquidity US Large Index, while PRF tracks RAFI Fundamental Select US 1000 Index. They also come from different issuers: Charles Schwab and Invesco. Their fees differ too: 0.25% for FNDX and 0.34% for PRF.

FNDX currently has the higher Sharpe Ratio (3.03 vs 2.95), 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.

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