JVAL vs. FNDX

Last updated Jun 23, 2026

JVAL (JPMorgan U.S. Value Factor ETF) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both Large Cap Value Equities funds - JVAL tracks the JP Morgan US Value Factor Index while FNDX tracks the RAFI Fundamental High Liquidity US Large Index. Both are passively managed. Over the past 5 years, JVAL returned 12.93%/yr vs 13.48%/yr for FNDX. Their correlation of 0.90 suggests significant overlap in exposure. JVAL charges 0.12%/yr vs 0.25%/yr for FNDX.

Performance

JVAL vs. FNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. Value Factor ETF (JVAL) 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, JVAL achieves a 19.79% return, which is significantly higher than FNDX's 14.79% return.

JVAL

• 1D: 0.46%
• 1M: 4.53%
• YTD: 19.79%
• 6M: 18.51%
• 1Y: 38.81%
• 3Y*: 21.69%
• 5Y*: 12.93%
• 10Y*: —

FNDX

• 1D: 0.19%
• 1M: 0.94%
• YTD: 14.79%
• 6M: 14.33%
• 1Y: 31.80%
• 3Y*: 20.50%
• 5Y*: 13.48%
• 10Y*: 14.53%

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

JVAL vs. FNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JVAL JPMorgan U.S. Value Factor ETF	19.79%	16.16%	14.53%	19.48%	-11.58%	31.31%	6.43%	28.37%	-8.94%	5.24%
FNDX Schwab Fundamental U.S. Large Company Index ETF	14.79%	16.94%	16.77%	18.23%	-6.92%	31.73%	9.12%	28.65%	-7.30%	4.96%

Correlation

The correlation between JVAL and FNDX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Nov 9, 2017	0.90

The correlation between JVAL and FNDX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

JVAL vs. FNDX - Sectors Allocation Comparison

Sectors	JVAL	FNDX
Technology	41.4%	22.1%
Consumer Cyclical	11.2%	9.1%
Financial Services	9.6%	13.3%
Healthcare	8.7%	11.9%
Industrials	8.4%	9.1%
Communication Services	7.1%	9.9%
Energy	3.4%	9.3%
Consumer Defensive	3.2%	7.0%
Real Estate	2.5%	1.7%
Basic Materials	2.4%	3.6%
Utilities	2.2%	3.0%

Return for Risk

JVAL vs. FNDX — Risk / Return Rank

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

JVAL

JVAL Risk / Return Rank: 85
JVAL Sharpe Ratio Rank: 86
JVAL Sortino Ratio Rank: 85
JVAL Omega Ratio Rank: 82
JVAL Calmar Ratio Rank: 86
JVAL Martin Ratio Rank: 87

FNDX

FNDX Risk / Return Rank: 91
FNDX Sharpe Ratio Rank: 92
FNDX Sortino Ratio Rank: 92
FNDX Omega Ratio Rank: 90
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.

JVAL vs. FNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Value Factor ETF (JVAL) 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.

	JVAL	FNDX	Difference
Sharpe ratio: Return per unit of total volatility	2.70	3.06	-0.36
Sortino ratio: Return per unit of downside risk	3.64	4.22	-0.59
Omega ratio: Gain probability vs. loss probability	1.47	1.56	-0.09
Calmar ratio: Return relative to maximum drawdown	4.60	5.27	-0.67
Martin ratio: Return relative to average drawdown	17.83	20.40	-2.57

JVAL vs. FNDX - Sharpe Ratio Comparison

The current JVAL Sharpe Ratio is 2.70, which is comparable to the FNDX Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of JVAL 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.

Drawdowns

JVAL vs. FNDX - Drawdown Comparison

The maximum JVAL drawdown since its inception was -40.42%, which is greater than FNDX's maximum drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for JVAL and FNDX.

Drawdown Indicators

	JVAL	FNDX	Difference
Max Drawdown Largest peak-to-trough decline	-40.42%	-37.72%	-2.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-6.06%	-2.42%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	-16.30%	-3.77%
Max Drawdown (5Y) Largest decline over 5 years	-22.39%	-19.06%	-3.33%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.72%	—
Current Drawdown Current decline from peak	-0.34%	-1.02%	+0.68%
Average Drawdown Average peak-to-trough decline	-5.28%	-3.55%	-1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	1.56%	+0.62%

Volatility

JVAL vs. FNDX - Volatility Comparison

JPMorgan U.S. Value Factor ETF (JVAL) has a higher volatility of 5.69% compared to Schwab Fundamental U.S. Large Company Index ETF (FNDX) at 3.29%. This indicates that JVAL'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

	JVAL	FNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.69%	3.29%	+2.40%
Volatility (6M) Calculated over the trailing 6-month period	11.00%	7.61%	+3.39%
Volatility (1Y) Calculated over the trailing 1-year period	14.46%	10.47%	+3.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.22%	15.18%	+2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.84%	17.52%	+2.32%

JVAL vs. FNDX - Expense Ratio Comparison

JVAL has a 0.12% 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

JVAL vs. FNDX - Dividend Comparison

JVAL's dividend yield for the trailing twelve months is around 1.72%, 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%
JVAL JPMorgan U.S. Value Factor ETF	1.72%	2.08%	2.21%	2.43%	2.46%	1.88%	2.55%	2.58%	2.61%	0.45%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JVAL and FNDX in my portfolio?

With a correlation of 0.91, JVAL 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, JVAL or FNDX?

JVAL has higher volatility (5.69%) compared to FNDX (3.29%). In terms of maximum drawdown, JVAL dropped -40.42% vs FNDX's -37.72%.

Which ETF is better, JVAL or FNDX?

On 5-year performance, FNDX leads with 13.48% vs 12.93% for JVAL. On fees, JVAL is cheaper at 0.12% per year. On volatility, FNDX has been the lower-risk option at 3.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JVAL or FNDX?

Over the 5-year period, FNDX has performed better with a 13.48% return vs 12.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JVAL or FNDX?

JVAL is cheaper with a 0.12% expense ratio, compared with 0.25% for FNDX.

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

JVAL has the higher dividend yield at 1.72%, compared with 1.45% for FNDX.

What is the main difference between JVAL and FNDX?

JVAL tracks JP Morgan US Value Factor Index, while FNDX tracks RAFI Fundamental High Liquidity US Large Index. They also come from different issuers: JPMorgan and Charles Schwab. Their fees differ too: 0.12% for JVAL and 0.25% for FNDX.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (3.06 vs 2.70), 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.