PVEX vs. FNDX

Last updated Jul 17, 2026

PVEX (TrueShares ConVequity ETF) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both exchange-traded funds - PVEX is a Large Cap Blend Equities fund managed by TrueShares, while FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index. Over the past year, PVEX returned 19.89% vs 30.30% for FNDX. A 0.73 correlation means they provide meaningful diversification when combined. PVEX charges 0.82%/yr vs 0.25%/yr for FNDX.

Performance

PVEX vs. FNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares ConVequity ETF (PVEX) 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, PVEX achieves a 7.85% return, which is significantly lower than FNDX's 17.12% return.

PVEX

• 1D: -0.77%
• 1M: -0.68%
• 6M: 7.14%
• YTD: 7.85%
• 1Y: 19.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNDX

• 1D: 0.44%
• 1M: 1.31%
• 6M: 12.69%
• YTD: 17.12%
• 1Y: 30.30%
• 3Y*: 19.81%
• 5Y*: 14.07%
• 10Y*: 14.07%

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

PVEX vs. FNDX - Yearly Performance Comparison

	2026 (YTD)	2025
PVEX TrueShares ConVequity ETF	7.85%	13.68%
FNDX Schwab Fundamental U.S. Large Company Index ETF	17.12%	12.26%

Correlation

The correlation between PVEX and FNDX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025	0.73

The correlation between PVEX and FNDX has been stable across timeframes, ranging from 0.73 to 0.74 - a consistent structural relationship.

Return for Risk

PVEX vs. FNDX — Risk / Return Rank

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

PVEX

PVEX Risk / Return Rank: 53
PVEX Sharpe Ratio Rank: 48
PVEX Sortino Ratio Rank: 46
PVEX Omega Ratio Rank: 47
PVEX Calmar Ratio Rank: 66
PVEX Martin Ratio Rank: 56

FNDX

FNDX Risk / Return Rank: 94
FNDX Sharpe Ratio Rank: 95
FNDX Sortino Ratio Rank: 95
FNDX Omega Ratio Rank: 94
FNDX Calmar Ratio Rank: 93
FNDX Martin Ratio Rank: 93

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.

PVEX vs. FNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares ConVequity ETF (PVEX) 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.

	PVEX	FNDX	Difference
Sharpe ratio: Return per unit of total volatility	1.36	2.97	-1.62
Sortino ratio: Return per unit of downside risk	1.92	4.14	-2.22
Omega ratio: Gain probability vs. loss probability	1.25	1.55	-0.31
Calmar ratio: Return relative to maximum drawdown	2.62	5.02	-2.40
Martin ratio: Return relative to average drawdown	7.75	19.47	-11.72

PVEX vs. FNDX - Sharpe Ratio Comparison

The current PVEX Sharpe Ratio is 1.36, which is lower than the FNDX Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of PVEX 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

PVEX vs. FNDX - Drawdown Comparison

The maximum PVEX drawdown since its inception was -7.63%, smaller than the maximum FNDX drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for PVEX and FNDX.

Drawdown Indicators

	PVEX	FNDX	Difference
Max Drawdown Largest peak-to-trough decline	-7.63%	-37.72%	+30.09%
Max Drawdown (1Y) Largest decline over 1 year	-7.63%	-6.06%	-1.57%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.30%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.06%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.72%	—
Current Drawdown Current decline from peak	-2.48%	0.00%	-2.48%
Average Drawdown Average peak-to-trough decline	-2.00%	-3.53%	+1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	1.56%	+1.01%

Volatility

PVEX vs. FNDX - Volatility Comparison

TrueShares ConVequity ETF (PVEX) has a higher volatility of 3.94% compared to Schwab Fundamental U.S. Large Company Index ETF (FNDX) at 2.05%. This indicates that PVEX'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

	PVEX	FNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	2.05%	+1.89%
Volatility (6M) Calculated over the trailing 6-month period	8.95%	7.41%	+1.54%
Volatility (1Y) Calculated over the trailing 1-year period	14.74%	10.23%	+4.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.22%	15.13%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.22%	17.43%	-2.21%

PVEX vs. FNDX - Expense Ratio Comparison

PVEX has a 0.82% expense ratio, which is higher than FNDX's 0.25% expense ratio.

Dividends

PVEX vs. FNDX - Dividend Comparison

PVEX's dividend yield for the trailing twelve months is around 0.18%, less than FNDX's 1.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.46%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%
PVEX TrueShares ConVequity ETF	0.18%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PVEX and FNDX in my portfolio?

PVEX and FNDX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PVEX or FNDX?

PVEX has higher volatility (3.94%) compared to FNDX (2.05%). In terms of maximum drawdown, PVEX dropped -7.63% vs FNDX's -37.72%.

Which ETF is better, PVEX or FNDX?

On 1-year performance, FNDX leads with 30.30% vs 19.89% for PVEX. On fees, FNDX is cheaper at 0.25% per year. On volatility, FNDX has been the lower-risk option at 2.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PVEX or FNDX?

Over the 1-year period, FNDX has performed better with a 30.30% return vs 19.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PVEX or FNDX?

FNDX is cheaper with a 0.25% expense ratio, compared with 0.82% for PVEX.

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

FNDX has the higher dividend yield at 1.46%, compared with 0.18% for PVEX.

What is the main difference between PVEX and FNDX?

PVEX is categorized as Large Cap Blend Equities, while FNDX is Large Cap Value Equities. They also come from different issuers: TrueShares and Charles Schwab. Their fees differ too: 0.82% for PVEX and 0.25% for FNDX.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (2.97 vs 1.36), 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.