FNDX vs. SCHP

Last updated Jun 4, 2026

FNDX (Schwab Fundamental U.S. Large Company Index ETF) and SCHP (Schwab U.S. TIPS ETF) are both exchange-traded funds - FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index, while SCHP is a Inflation-Protected Bonds fund tracking the Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L). Both are passively managed. Over the past 10 years, FNDX returned 14.26%/yr vs 2.66%/yr for SCHP. At a correlation of -0.03, they often move in opposite directions. FNDX charges 0.25%/yr vs 0.05%/yr for SCHP.

Performance

FNDX vs. SCHP - 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 Schwab U.S. TIPS ETF (SCHP). 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 SCHP's 1.61% return. Over the past 10 years, FNDX has outperformed SCHP with an annualized return of 14.26%, while SCHP has yielded a comparatively lower 2.66% 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%

SCHP

• 1D: -0.15%
• 1M: -0.03%
• YTD: 1.61%
• 6M: 1.14%
• 1Y: 5.19%
• 3Y*: 4.05%
• 5Y*: 1.13%
• 10Y*: 2.66%

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

FNDX vs. SCHP - 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%
SCHP Schwab U.S. TIPS ETF	1.61%	6.76%	1.95%	3.91%	-12.02%	5.87%	10.86%	8.52%	-1.78%	3.02%

Correlation

The correlation between FNDX and SCHP is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Aug 16, 2013	-0.03

The correlation between FNDX and SCHP shifts across timeframes, from -0.03 (all time) to 0.20 (3 years), reflecting how their relationship changes across market environments.

FNDX vs. SCHP - Sectors Allocation Comparison

Sectors	FNDX	SCHP
Technology	19.1%	-
Financial Services	14.1%	0.0%
Healthcare	12.0%	-
Energy	10.3%	-
Communication Services	10.1%	-
Industrials	9.3%	-
Consumer Cyclical	9.2%	100.0%
Consumer Defensive	7.4%	-
Basic Materials	3.7%	3.0%
Utilities	3.2%	-
Real Estate	1.8%	-

Return for Risk

FNDX vs. SCHP — 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

SCHP

SCHP Risk / Return Rank: 47
SCHP Sharpe Ratio Rank: 44
SCHP Sortino Ratio Rank: 47
SCHP Omega Ratio Rank: 43
SCHP Calmar Ratio Rank: 53
SCHP Martin Ratio Rank: 49

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. SCHP - 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 Schwab U.S. TIPS ETF (SCHP). 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	SCHP	Difference
Sharpe ratio: Return per unit of total volatility	3.18	1.58	+1.60
Sortino ratio: Return per unit of downside risk	4.47	2.41	+2.06
Omega ratio: Gain probability vs. loss probability	1.59	1.28	+0.30
Calmar ratio: Return relative to maximum drawdown	5.35	2.70	+2.65
Martin ratio: Return relative to average drawdown	20.97	8.22	+12.75
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. SCHP - Sharpe Ratio Comparison

The current FNDX Sharpe Ratio is 3.18, which is higher than the SCHP Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of FNDX and SCHP, 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	SCHP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.18	1.58	+1.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.19	+0.66
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.48	+0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.51	+0.29

Drawdowns

FNDX vs. SCHP - Drawdown Comparison

The maximum FNDX drawdown since its inception was -37.72%, which is greater than SCHP's maximum drawdown of -14.26%. Use the drawdown chart below to compare losses from any high point for FNDX and SCHP.

Drawdown Indicators

	FNDX	SCHP	Difference
Max Drawdown Largest peak-to-trough decline	-37.72%	-14.26%	-23.46%
Max Drawdown (1Y) Largest decline over 1 year	-6.06%	-1.93%	-4.13%
Max Drawdown (3Y) Largest decline over 3 years	-16.30%	-4.48%	-11.82%
Max Drawdown (5Y) Largest decline over 5 years	-19.06%	-14.26%	-4.80%
Max Drawdown (10Y) Largest decline over 10 years	-37.72%	-14.26%	-23.46%
Current Drawdown Current decline from peak	-0.13%	-0.25%	+0.12%
Average Drawdown Average peak-to-trough decline	-3.55%	-3.94%	+0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	0.63%	+0.92%

Volatility

FNDX vs. SCHP - Volatility Comparison

Schwab Fundamental U.S. Large Company Index ETF (FNDX) has a higher volatility of 2.25% compared to Schwab U.S. TIPS ETF (SCHP) at 0.89%. This indicates that FNDX's price experiences larger fluctuations and is considered to be riskier than SCHP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDX	SCHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.25%	0.89%	+1.36%
Volatility (6M) Calculated over the trailing 6-month period	7.25%	2.20%	+5.05%
Volatility (1Y) Calculated over the trailing 1-year period	10.22%	3.30%	+6.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	6.12%	+9.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.50%	5.59%	+11.91%

FNDX vs. SCHP - Expense Ratio Comparison

FNDX has a 0.25% expense ratio, which is higher than SCHP's 0.05% 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. SCHP - Dividend Comparison

FNDX's dividend yield for the trailing twelve months is around 1.45%, less than SCHP's 3.99% 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%
SCHP Schwab U.S. TIPS ETF	3.99%	4.06%	2.99%	3.02%	7.19%	4.39%	1.11%	2.02%	2.26%	1.90%	1.38%	0.28%

Frequently Asked Questions

Can I hold both FNDX and SCHP in my portfolio?

FNDX and SCHP have a correlation of 0.17, 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 SCHP?

FNDX has higher volatility (2.25%) compared to SCHP (0.89%). In terms of maximum drawdown, FNDX dropped -37.72% vs SCHP's -14.26%.

Which ETF is better, FNDX or SCHP?

On 10-year performance, FNDX leads with 14.26% vs 2.66% for SCHP. On fees, SCHP is cheaper at 0.05% per year. On volatility, SCHP has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNDX or SCHP?

Over the 10-year period, FNDX has performed better with a 14.26% return vs 2.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNDX or SCHP?

SCHP is cheaper with a 0.05% expense ratio, compared with 0.25% for FNDX.

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

SCHP has the higher dividend yield at 3.99%, compared with 1.45% for FNDX.

What is the main difference between FNDX and SCHP?

FNDX is categorized as Large Cap Value Equities, while SCHP is Inflation-Protected Bonds. FNDX tracks RAFI Fundamental High Liquidity US Large Index, while SCHP tracks Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L). Their fees differ too: 0.25% for FNDX and 0.05% for SCHP.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (3.18 vs 1.58), 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.