IUS vs. FNDX

Last updated Jun 5, 2026

IUS (Invesco RAFI Strategic US ETF) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both exchange-traded funds - IUS is a Large Cap Blend Equities fund tracking the Invesco Strategic US Index, while FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index. Both are passively managed. Over the past 5 years, IUS returned 13.72%/yr vs 12.98%/yr for FNDX. Their correlation of 0.91 suggests significant overlap in exposure. IUS charges 0.19%/yr vs 0.25%/yr for FNDX.

Performance

IUS vs. FNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco RAFI Strategic US ETF (IUS) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IUS achieves a 16.26% return, which is significantly higher than FNDX's 15.35% return.

IUS

• 1D: 0.47%
• 1M: 4.37%
• YTD: 16.26%
• 6M: 16.49%
• 1Y: 34.28%
• 3Y*: 21.21%
• 5Y*: 13.72%
• 10Y*: —

FNDX

• 1D: 0.68%
• 1M: 3.54%
• YTD: 15.35%
• 6M: 15.57%
• 1Y: 33.72%
• 3Y*: 21.32%
• 5Y*: 12.98%
• 10Y*: 14.27%

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

IUS vs. FNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IUS Invesco RAFI Strategic US ETF	16.26%	16.94%	16.51%	20.79%	-8.34%	32.17%	15.09%	29.34%	-12.49%
FNDX Schwab Fundamental U.S. Large Company Index ETF	15.35%	16.94%	16.77%	18.23%	-6.92%	31.73%	9.12%	28.65%	-13.23%

Correlation

The correlation between IUS and FNDX is 0.97 - 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Sep 13, 2018	0.91

The correlation between IUS and FNDX has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.

IUS vs. FNDX - Sectors Allocation Comparison

Sectors	IUS	FNDX
Technology	22.4%	19.1%
Communication Services	14.7%	10.1%
Healthcare	12.8%	12.0%
Energy	10.9%	10.3%
Consumer Cyclical	10.7%	9.2%
Industrials	9.7%	9.3%
Consumer Defensive	7.4%	7.4%
Financial Services	6.8%	14.1%
Basic Materials	3.3%	3.7%
Utilities	1.0%	3.2%
Real Estate	0.5%	1.8%

Return for Risk

IUS vs. FNDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IUS

IUS Risk / Return Rank: 92
IUS Sharpe Ratio Rank: 93
IUS Sortino Ratio Rank: 93
IUS Omega Ratio Rank: 92
IUS Calmar Ratio Rank: 90
IUS Martin Ratio Rank: 93

FNDX

FNDX Risk / Return Rank: 92
FNDX Sharpe Ratio Rank: 92
FNDX Sortino Ratio Rank: 93
FNDX Omega Ratio Rank: 92
FNDX Calmar Ratio Rank: 90
FNDX Martin Ratio Rank: 91

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.

IUS vs. FNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI Strategic US ETF (IUS) 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.

	IUS	FNDX	Difference
Sharpe ratio: Return per unit of total volatility	3.36	3.32	+0.04
Sortino ratio: Return per unit of downside risk	4.65	4.64	+0.01
Omega ratio: Gain probability vs. loss probability	1.61	1.61	0.00
Calmar ratio: Return relative to maximum drawdown	5.60	5.59	+0.02
Martin ratio: Return relative to average drawdown	23.98	21.88	+2.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUS vs. FNDX - Sharpe Ratio Comparison

The current IUS Sharpe Ratio is 3.36, which is comparable to the FNDX Sharpe Ratio of 3.32. The chart below compares the historical Sharpe Ratios of IUS and FNDX, 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

	IUS	FNDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.36	3.32	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.86	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.80	+0.06

Drawdowns

IUS vs. FNDX - Drawdown Comparison

The maximum IUS drawdown since its inception was -34.67%, smaller than the maximum FNDX drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for IUS and FNDX.

Drawdown Indicators

	IUS	FNDX	Difference
Max Drawdown Largest peak-to-trough decline	-34.67%	-37.72%	+3.05%
Max Drawdown (1Y) Largest decline over 1 year	-6.15%	-6.06%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-15.61%	-16.30%	+0.69%
Max Drawdown (5Y) Largest decline over 5 years	-18.72%	-19.06%	+0.34%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.72%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.86%	-3.55%	-0.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.43%	1.55%	-0.12%

Volatility

IUS vs. FNDX - Volatility Comparison

Invesco RAFI Strategic US ETF (IUS) has a higher volatility of 2.39% compared to Schwab Fundamental U.S. Large Company Index ETF (FNDX) at 2.15%. This indicates that IUS'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.

Volatility by Period

	IUS	FNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.39%	2.15%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	7.42%	7.27%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	10.26%	10.22%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.00%	15.18%	-0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	17.50%	+0.54%

IUS vs. FNDX - Expense Ratio Comparison

IUS has a 0.19% expense ratio, which is lower than FNDX'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

IUS vs. FNDX - Dividend Comparison

IUS's dividend yield for the trailing twelve months is around 1.28%, less than FNDX's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
IUS Invesco RAFI Strategic US ETF	1.28%	1.48%	1.52%	1.72%	1.78%	1.46%	1.74%	1.77%	0.73%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IUS and FNDX in my portfolio?

With a correlation of 0.97, IUS and FNDX 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.

Which is riskier, IUS or FNDX?

IUS has higher volatility (2.39%) compared to FNDX (2.15%). In terms of maximum drawdown, IUS dropped -34.67% vs FNDX's -37.72%.

Which ETF is better, IUS or FNDX?

On 5-year performance, IUS leads with 13.72% vs 12.98% for FNDX. On fees, IUS is cheaper at 0.19% per year. On volatility, FNDX has been the lower-risk option at 2.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IUS or FNDX?

Over the 5-year period, IUS has performed better with a 13.72% return vs 12.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IUS or FNDX?

IUS is cheaper with a 0.19% expense ratio, compared with 0.25% for FNDX.

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

FNDX has the higher dividend yield at 1.44%, compared with 1.28% for IUS.

What is the main difference between IUS and FNDX?

IUS is categorized as Large Cap Blend Equities, while FNDX is Large Cap Value Equities. IUS tracks Invesco Strategic US Index, while FNDX tracks RAFI Fundamental High Liquidity US Large Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.19% for IUS and 0.25% for FNDX.

Which has better risk-adjusted returns?

IUS currently has the higher Sharpe Ratio (3.36 vs 3.32), 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.