GAM vs. FNDX
GAM (General American Investors Company, Inc.) is a stock, while FNDX (Schwab Fundamental U.S. Large Company Index ETF) is Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index. Over the past 10 years, GAM returned 15.40%/yr vs 14.28%/yr for FNDX. Their correlation of 0.80 means they have usually moved in the same direction.
Performance
GAM vs. FNDX - Performance Comparison
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Returns By Period
In the year-to-date period, GAM achieves a 10.68% return, which is significantly lower than FNDX's 17.56% return. Over the past 10 years, GAM has outperformed FNDX with an annualized return of 15.40%, while FNDX has yielded a comparatively lower 14.28% annualized return.
GAM
- 1D
- 0.42%
- 1M
- 1.66%
- 6M
- 6.96%
- YTD
- 10.68%
- 1Y
- 28.16%
- 3Y*
- 25.77%
- 5Y*
- 15.37%
- 10Y*
- 15.40%
- ALL TIME*
- 9.19%
FNDX
- 1D
- 0.13%
- 1M
- 1.50%
- 6M
- 12.72%
- YTD
- 17.56%
- 1Y
- 32.35%
- 3Y*
- 18.99%
- 5Y*
- 13.78%
- 10Y*
- 14.28%
- ALL TIME*
- 13.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $79.55M | $81.34M | $109.11M | |
| $1.10M | $1.38M | $1.77M |
GAM vs. FNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GAM General American Investors Company, Inc. | 10.68% | 28.63% | 29.55% | 26.84% | -14.84% | 20.56% | 5.85% | 41.76% | -10.25% | 21.32% |
FNDX Schwab Fundamental U.S. Large Company Index ETF | 17.56% | 16.94% | 16.77% | 18.23% | -6.92% | 31.73% | 9.12% | 28.65% | -7.30% | 17.12% |
Correlation
The correlation between GAM and FNDX is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.61 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013 | 0.80 |
The correlation between GAM and FNDX shifts across timeframes, from 0.61 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GAM vs. FNDX — Risk / Return Rank
GAM
FNDX
GAM vs. FNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for General American Investors Company, Inc. (GAM) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). 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.
| GAM | FNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.56 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 5.07 | -2.01 |
| Martin ratioReturn relative to average drawdown | 13.47 | 20.26 | -6.78 |
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Drawdowns
GAM vs. FNDX - Drawdown Comparison
The maximum GAM drawdown since its inception was -66.63%, which is greater than FNDX's maximum drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for GAM and FNDX.
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Drawdown Indicators
| GAM | FNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.63% | -37.72% | -28.91% |
Max Drawdown (1Y)Largest decline over 1 year | -8.67% | -6.06% | -2.61% |
Max Drawdown (3Y)Largest decline over 3 years | -14.90% | -16.30% | +1.40% |
Max Drawdown (5Y)Largest decline over 5 years | -26.09% | -19.06% | -7.03% |
Max Drawdown (10Y)Largest decline over 10 years | -41.78% | -37.72% | -4.06% |
Current DrawdownCurrent decline from peak | -0.34% | -0.41% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -11.54% | -3.52% | -8.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.52% | +0.45% |
Volatility
GAM vs. FNDX - Volatility Comparison
General American Investors Company, Inc. (GAM) has a higher volatility of 2.77% compared to Schwab Fundamental U.S. Large Company Index ETF (FNDX) at 2.37%. This indicates that GAM's price experiences larger fluctuations and is considered to be riskier than FNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GAM | FNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.77% | 2.37% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 9.58% | 7.34% | +2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.50% | 10.32% | +1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.00% | 15.08% | +0.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.59% | 17.44% | +0.15% |
Dividends
GAM vs. FNDX - Dividend Comparison
GAM's dividend yield for the trailing twelve months is around 9.85%, more than FNDX's 1.45% 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% |
GAM General American Investors Company, Inc. | 9.85% | 11.32% | 8.82% | 6.17% | 4.15% | 1.38% | 6.72% | 6.49% | 9.67% | 9.56% | 10.20% | 3.60% |
Frequently Asked Questions
GAM and FNDX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GAM has higher volatility (2.77%) compared to FNDX (2.37%). In terms of maximum drawdown, GAM dropped -66.63% vs FNDX's -37.72%.
FNDX currently has the higher Sharpe Ratio (2.99 vs 2.31), 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.
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