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IJR vs. FNDA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJR vs. FNDA

Last updated Jul 22, 2026
Documentation

IJR (iShares Core S&P Small-Cap ETF) and FNDA (Schwab Fundamental U.S. Small Company ETF) are both Small Cap Blend Equities funds - IJR tracks the S&P SmallCap 600 Index while FNDA tracks the RAFI Fundamental High Liquidity U.S. Small Index. Both are passively managed. Over the past 10 years, IJR returned 10.81%/yr vs 10.94%/yr for FNDA. With a 0.98 correlation, they move nearly in lockstep. IJR charges 0.06%/yr vs 0.25%/yr for FNDA.

Performance

IJR vs. FNDA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P Small-Cap ETF (IJR) and Schwab Fundamental U.S. Small Company ETF (FNDA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IJR achieves a 22.52% return, which is significantly higher than FNDA's 20.31% return. Both investments have delivered pretty close results over the past 10 years, with IJR having a 10.81% annualized return and FNDA not far ahead at 10.94%.

IJR

1D
1.01%
1M
2.35%
6M
16.11%
YTD
22.52%
1Y
33.04%
3Y*
14.26%
5Y*
8.10%
10Y*
10.81%
ALL TIME*
10.19%

FNDA

1D
0.94%
1M
2.32%
6M
13.64%
YTD
20.31%
1Y
29.88%
3Y*
14.40%
5Y*
9.27%
10Y*
10.94%
ALL TIME*
10.50%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IJR vs. FNDA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IJR
iShares Core S&P Small-Cap ETF		22.52%5.89%8.63%16.06%-16.20%26.58%11.28%22.82%-8.51%13.15%
FNDA
Schwab Fundamental U.S. Small Company ETF		20.31%7.44%9.00%20.29%-14.83%31.12%8.44%24.34%-12.12%12.68%

Correlation

The correlation between IJR and FNDA is 0.98 - 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

0.98

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

0.98

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

0.98

The correlation between IJR and FNDA has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

IJR vs. FNDA - Sectors Allocation Comparison

Sectors
IJR
FNDA

Financial Services

17.0%
14.8%

Industrials

15.6%
19.1%

Technology

15.5%
15.2%

Consumer Cyclical

13.2%
12.4%

Healthcare

12.4%
7.8%

Real Estate

7.6%
10.0%

Energy

4.9%
5.6%

Basic Materials

4.7%
4.3%

Consumer Defensive

4.2%
3.9%

Communication Services

3.2%
3.7%

Utilities

1.8%
3.0%

Financial Services

IJR
17.0%
FNDA
14.8%

Industrials

IJR
15.6%
FNDA
19.1%

Technology

IJR
15.5%
FNDA
15.2%

Consumer Cyclical

IJR
13.2%
FNDA
12.4%

Healthcare

IJR
12.4%
FNDA
7.8%

Real Estate

IJR
7.6%
FNDA
10.0%

Energy

IJR
4.9%
FNDA
5.6%

Basic Materials

IJR
4.7%
FNDA
4.3%

Consumer Defensive

IJR
4.2%
FNDA
3.9%

Communication Services

IJR
3.2%
FNDA
3.7%

Utilities

IJR
1.8%
FNDA
3.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core S&P Small-Cap ETF

Schwab Fundamental U.S. Small Company ETF

Often compared with IJR:
IJR vs. IWMIJR vs. VBIJR vs. AVUVIJR vs. IJHIJR vs. IJSIJR vs. SCHAIJR vs. VBR
Often compared with FNDA:
FNDA vs. SCHAFNDA vs. FNDCFNDA vs. VBKFNDA vs. IFRAFNDA vs. IGFFNDA vs. SPYFNDA vs. LRGF

Return for Risk

IJR vs. FNDA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IJR
IJR Risk / Return Rank: 8282
Overall Rank
IJR Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
IJR Sortino Ratio Rank: 8282
Sortino Ratio Rank
IJR Omega Ratio Rank: 7676
Omega Ratio Rank
IJR Calmar Ratio Rank: 8888
Calmar Ratio Rank
IJR Martin Ratio Rank: 8585
Martin Ratio Rank
FNDA
FNDA Risk / Return Rank: 7575
Overall Rank
FNDA Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
FNDA Sortino Ratio Rank: 7676
Sortino Ratio Rank
FNDA Omega Ratio Rank: 6969
Omega Ratio Rank
FNDA Calmar Ratio Rank: 8282
Calmar Ratio Rank
FNDA Martin Ratio Rank: 7676
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.

IJR vs. FNDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P Small-Cap ETF (IJR) and Schwab Fundamental U.S. Small Company ETF (FNDA). 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.

IJRFNDADifference
Sharpe ratioReturn per unit of total volatility
1.91
1.76

+0.15

Sortino ratioReturn per unit of downside risk
2.80
2.57

+0.23

Omega ratioGain probability vs. loss probability

1.33

1.30

+0.03

Calmar ratioReturn relative to maximum drawdown

3.82

3.20

+0.62

Martin ratioReturn relative to average drawdown

12.78

10.34

+2.44

IJR vs. FNDA - Sharpe Ratio Comparison

The current IJR Sharpe Ratio is 1.91, which is comparable to the FNDA Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of IJR and FNDA, 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

IJR vs. FNDA - Drawdown Comparison

The maximum IJR drawdown since its inception was -58.15%, which is greater than FNDA's maximum drawdown of -44.64%. Use the drawdown chart below to compare losses from any high point for IJR and FNDA.

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Drawdown Indicators

IJRFNDADifference

Max Drawdown

Largest peak-to-trough decline

-58.15%

-44.64%

-13.51%

Max Drawdown (1Y)

Largest decline over 1 year

-8.68%

-9.36%

+0.68%

Max Drawdown (3Y)

Largest decline over 3 years

-28.02%

-25.92%

-2.10%

Max Drawdown (5Y)

Largest decline over 5 years

-28.02%

-25.92%

-2.10%

Max Drawdown (10Y)

Largest decline over 10 years

-44.36%

-44.64%

+0.28%

Current Drawdown

Current decline from peak

-1.17%

-0.84%

-0.33%

Average Drawdown

Average peak-to-trough decline

-9.24%

-6.64%

-2.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.59%

2.90%

-0.31%

Volatility

IJR vs. FNDA - Volatility Comparison

iShares Core S&P Small-Cap ETF (IJR) and Schwab Fundamental U.S. Small Company ETF (FNDA) have volatilities of 3.48% and 3.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IJRFNDADifference

Volatility (1M)

Calculated over the trailing 1-month period

3.48%

3.34%

+0.14%

Volatility (6M)

Calculated over the trailing 6-month period

12.01%

12.11%

-0.10%

Volatility (1Y)

Calculated over the trailing 1-year period

17.40%

17.09%

+0.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.27%

20.74%

+0.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.85%

22.32%

+0.53%

IJR vs. FNDA - Expense Ratio Comparison

IJR has a 0.06% expense ratio, which is lower than FNDA's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IJR vs. FNDA - Dividend Comparison

IJR's dividend yield for the trailing twelve months is around 1.12%, more than FNDA's 1.10% yield.

PositionTTM20252024202320222021202020192018201720162015
FNDA
Schwab Fundamental U.S. Small Company ETF		1.10%1.22%1.53%1.37%1.38%1.15%1.31%1.38%1.64%1.30%1.18%1.33%
IJR
iShares Core S&P Small-Cap ETF		1.12%1.44%2.05%1.31%1.41%1.53%1.11%1.44%1.58%1.20%1.22%1.48%

Frequently Asked Questions

With a correlation of 0.98, IJR and FNDA 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.

IJR has higher volatility (3.48%) compared to FNDA (3.34%). In terms of maximum drawdown, IJR dropped -58.15% vs FNDA's -44.64%.

On 10-year performance, FNDA leads with 10.94% vs 10.81% for IJR. On fees, IJR is cheaper at 0.06% per year. On volatility, FNDA has been the lower-risk option at 3.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, FNDA has performed better with a 10.94% return vs 10.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IJR is cheaper with a 0.06% expense ratio, compared with 0.25% for FNDA.

IJR has the higher dividend yield at 1.12%, compared with 1.10% for FNDA.

IJR tracks S&P SmallCap 600 Index, while FNDA tracks RAFI Fundamental High Liquidity U.S. Small Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.06% for IJR and 0.25% for FNDA.

IJR currently has the higher Sharpe Ratio (1.91 vs 1.76), 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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