FNDX vs. SHV
FNDX (Schwab Fundamental U.S. Large Company Index ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both exchange-traded funds - FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index, while SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index. Both are passively managed. Over the past 10 years, FNDX returned 14.32%/yr vs 2.23%/yr for SHV. At a correlation of -0.03, they often move in opposite directions. FNDX charges 0.25%/yr vs 0.15%/yr for SHV.
Performance
FNDX vs. SHV - Performance Comparison
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Returns By Period
In the year-to-date period, FNDX achieves a 14.46% return, which is significantly higher than SHV's 1.51% return. Over the past 10 years, FNDX has outperformed SHV with an annualized return of 14.32%, while SHV has yielded a comparatively lower 2.23% annualized return.
FNDX
- 1D
- 1.47%
- 1M
- 1.97%
- YTD
- 14.46%
- 6M
- 13.13%
- 1Y
- 30.72%
- 3Y*
- 20.21%
- 5Y*
- 12.91%
- 10Y*
- 14.32%
SHV
- 1D
- 0.02%
- 1M
- 0.28%
- YTD
- 1.51%
- 6M
- 1.73%
- 1Y
- 3.89%
- 3Y*
- 4.63%
- 5Y*
- 3.34%
- 10Y*
- 2.23%
FNDX vs. SHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNDX Schwab Fundamental U.S. Large Company Index ETF | 14.46% | 16.94% | 16.77% | 18.23% | -6.92% | 31.73% | 9.12% | 28.65% | -7.30% | 17.12% |
SHV iShares 0-1 Year Treasury Bond ETF | 1.51% | 4.21% | 5.12% | 5.04% | 0.94% | -0.10% | 0.81% | 2.36% | 1.72% | 0.67% |
Correlation
The correlation between FNDX and SHV is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013 | -0.03 |
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Return for Risk
FNDX vs. SHV — Risk / Return Rank
FNDX
SHV
FNDX vs. SHV - 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 iShares 0-1 Year Treasury Bond ETF (SHV). 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 | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -16.52 | ||
| Sortino ratioReturn per unit of downside risk | -145.07 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 53.64 | -52.10 |
| Calmar ratioReturn relative to maximum drawdown | 5.09 | 430.34 | -425.25 |
| Martin ratioReturn relative to average drawdown | 19.73 | 2,413.95 | -2,394.22 |
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Drawdowns
FNDX vs. SHV - Drawdown Comparison
The maximum FNDX drawdown since its inception was -37.72%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for FNDX and SHV.
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Drawdown Indicators
| FNDX | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.72% | -0.45% | -37.27% |
Max Drawdown (1Y)Largest decline over 1 year | -6.06% | -0.01% | -6.05% |
Max Drawdown (3Y)Largest decline over 3 years | -16.30% | -0.03% | -16.27% |
Max Drawdown (5Y)Largest decline over 5 years | -19.06% | -0.39% | -18.67% |
Max Drawdown (10Y)Largest decline over 10 years | -37.72% | -0.45% | -37.27% |
Current DrawdownCurrent decline from peak | -0.77% | 0.00% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -0.03% | -3.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.56% | 0.00% | +1.56% |
Volatility
FNDX vs. SHV - Volatility Comparison
Schwab Fundamental U.S. Large Company Index ETF (FNDX) has a higher volatility of 3.07% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.04%. This indicates that FNDX's price experiences larger fluctuations and is considered to be riskier than SHV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNDX | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 0.04% | +3.03% |
Volatility (6M)Calculated over the trailing 6-month period | 7.63% | 0.12% | +7.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.42% | 0.20% | +10.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.22% | 0.29% | +14.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.51% | 0.28% | +17.23% |
FNDX vs. SHV - Expense Ratio Comparison
FNDX has a 0.25% expense ratio, which is higher than SHV's 0.15% 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. SHV - Dividend Comparison
FNDX's dividend yield for the trailing twelve months is around 1.45%, less than SHV's 3.83% 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% |
SHV iShares 0-1 Year Treasury Bond ETF | 3.83% | 4.09% | 5.02% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% |
Frequently Asked Questions
FNDX and SHV have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNDX has higher volatility (3.07%) compared to SHV (0.04%). In terms of maximum drawdown, FNDX dropped -37.72% vs SHV's -0.45%.
On 10-year performance, FNDX leads with 14.32% vs 2.23% for SHV. On fees, SHV is cheaper at 0.15% per year. On volatility, SHV has been the lower-risk option at 0.04%. 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 14.32% return vs 2.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHV is cheaper with a 0.15% expense ratio, compared with 0.25% for FNDX.
SHV has the higher dividend yield at 3.83%, compared with 1.45% for FNDX.
FNDX is categorized as Large Cap Value Equities, while SHV is Government Bonds. FNDX tracks RAFI Fundamental High Liquidity US Large Index, while SHV tracks ICE Short US Treasury Securities Index. They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.25% for FNDX and 0.15% for SHV.
SHV currently has the higher Sharpe Ratio (19.48 vs 2.96), 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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