PY vs. FNDX

Last updated Jun 4, 2026

PY (Principal Value ETF) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both Large Cap Value Equities funds. PY is actively managed, while FNDX is passively managed. Over the past 10 years, PY returned 10.73%/yr vs 14.26%/yr for FNDX. A 0.72 correlation means they provide meaningful diversification when combined. PY charges 0.15%/yr vs 0.25%/yr for FNDX.

Performance

PY vs. FNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Value ETF (PY) 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, PY achieves a 4.14% return, which is significantly lower than FNDX's 14.57% return. Over the past 10 years, PY has underperformed FNDX with an annualized return of 10.73%, while FNDX has yielded a comparatively higher 14.26% annualized return.

PY

• 1D: -0.49%
• 1M: 1.70%
• YTD: 4.14%
• 6M: 4.52%
• 1Y: 14.24%
• 3Y*: 13.22%
• 5Y*: 7.32%
• 10Y*: 10.73%

FNDX

• 1D: -0.13%
• 1M: 3.88%
• YTD: 14.57%
• 6M: 14.58%
• 1Y: 32.32%
• 3Y*: 20.90%
• 5Y*: 12.82%
• 10Y*: 14.26%

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

PY vs. FNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PY Principal Value ETF	4.14%	7.74%	16.79%	9.11%	-5.10%	34.83%	2.71%	26.87%	-13.34%	18.87%
FNDX Schwab Fundamental U.S. Large Company Index ETF	14.57%	16.94%	16.77%	18.23%	-6.92%	31.73%	9.12%	28.65%	-7.30%	17.12%

Correlation

The correlation between PY and FNDX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Mar 23, 2016	0.72

The correlation between PY and FNDX shifts across timeframes, from 0.72 (all time) to 0.93 (5 years), reflecting how their relationship changes across market environments.

PY vs. FNDX - Sectors Allocation Comparison

Sectors	PY	FNDX
Technology	25.0%	19.1%
Financial Services	16.5%	14.1%
Healthcare	12.0%	12.0%
Consumer Defensive	11.5%	7.4%
Consumer Cyclical	11.0%	9.2%
Industrials	9.3%	9.3%
Energy	5.6%	10.3%
Communication Services	5.1%	10.1%
Utilities	1.7%	3.2%
Basic Materials	1.2%	3.7%
Real Estate	1.1%	1.8%

Return for Risk

PY vs. FNDX — Risk / Return Rank

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

PY

PY Risk / Return Rank: 41
PY Sharpe Ratio Rank: 38
PY Sortino Ratio Rank: 39
PY Omega Ratio Rank: 37
PY Calmar Ratio Rank: 47
PY Martin Ratio Rank: 47

FNDX

FNDX Risk / Return Rank: 90
FNDX Sharpe Ratio Rank: 90
FNDX Sortino Ratio Rank: 91
FNDX Omega Ratio Rank: 90
FNDX Calmar Ratio Rank: 89
FNDX Martin Ratio Rank: 90

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.

PY vs. FNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Value ETF (PY) 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.

	PY	FNDX	Difference
Sharpe ratio: Return per unit of total volatility	1.36	3.18	-1.82
Sortino ratio: Return per unit of downside risk	2.00	4.47	-2.47
Omega ratio: Gain probability vs. loss probability	1.24	1.59	-0.34
Calmar ratio: Return relative to maximum drawdown	2.31	5.35	-3.05
Martin ratio: Return relative to average drawdown	7.73	20.97	-13.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PY vs. FNDX - Sharpe Ratio Comparison

The current PY Sharpe Ratio is 1.36, which is lower than the FNDX Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of PY 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

	PY	FNDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	3.18	-1.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.85	-0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.82	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.79	-0.26

Drawdowns

PY vs. FNDX - Drawdown Comparison

The maximum PY drawdown since its inception was -45.44%, which is greater than FNDX's maximum drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for PY and FNDX.

Drawdown Indicators

	PY	FNDX	Difference
Max Drawdown Largest peak-to-trough decline	-45.44%	-37.72%	-7.72%
Max Drawdown (1Y) Largest decline over 1 year	-6.20%	-6.06%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	-17.84%	-16.30%	-1.54%
Max Drawdown (5Y) Largest decline over 5 years	-17.84%	-19.06%	+1.22%
Max Drawdown (10Y) Largest decline over 10 years	-45.44%	-37.72%	-7.72%
Current Drawdown Current decline from peak	-1.00%	-0.13%	-0.87%
Average Drawdown Average peak-to-trough decline	-5.05%	-3.55%	-1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	1.55%	+0.30%

Volatility

PY vs. FNDX - Volatility Comparison

Principal Value ETF (PY) and Schwab Fundamental U.S. Large Company Index ETF (FNDX) have volatilities of 2.28% and 2.25%, 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.

Volatility by Period

	PY	FNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.28%	2.25%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	7.28%	7.25%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	10.53%	10.22%	+0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.77%	15.18%	+0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.07%	17.50%	+2.57%

PY vs. FNDX - Expense Ratio Comparison

PY has a 0.15% 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

PY vs. FNDX - Dividend Comparison

PY's dividend yield for the trailing twelve months is around 2.13%, 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%
PY Principal Value ETF	2.13%	2.14%	2.22%	2.68%	3.02%	2.83%	2.95%	2.25%	2.34%	1.68%	1.85%	0.00%

Frequently Asked Questions

Can I hold both PY and FNDX in my portfolio?

PY and FNDX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PY or FNDX?

PY has higher volatility (2.28%) compared to FNDX (2.25%). In terms of maximum drawdown, PY dropped -45.44% vs FNDX's -37.72%.

Which ETF is better, PY or FNDX?

On 10-year performance, FNDX leads with 14.26% vs 10.73% for PY. On fees, PY is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PY or FNDX?

Over the 10-year period, FNDX has performed better with a 14.26% return vs 10.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PY or FNDX?

PY is cheaper with a 0.15% expense ratio, compared with 0.25% for FNDX.

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

PY has the higher dividend yield at 2.13%, compared with 1.45% for FNDX.

What is the main difference between PY and FNDX?

They also come from different issuers: Principal and Charles Schwab. Their fees differ too: 0.15% for PY and 0.25% for FNDX.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (3.18 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.