SCMB vs. FNDC
SCMB (Schwab Municipal Bond ETF) and FNDC (Schwab Fundamental International Small Co. Index ETF) are both exchange-traded funds - SCMB is a Municipal Bonds fund tracking the ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross, while FNDC is a Foreign Small & Mid Cap Equities fund tracking the Russell RAFI Small Company Developed x US. Both are passively managed. Over the past 3 years, SCMB returned 3.26%/yr vs 17.46%/yr for FNDC. At a 0.25 correlation, their price movements are largely independent. SCMB charges 0.03%/yr vs 0.39%/yr for FNDC.
Performance
SCMB vs. FNDC - Performance Comparison
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Returns By Period
In the year-to-date period, SCMB achieves a 1.07% return, which is significantly lower than FNDC's 11.54% return.
SCMB
- 1D
- 0.00%
- 1M
- 1.12%
- YTD
- 1.07%
- 6M
- 1.59%
- 1Y
- 6.26%
- 3Y*
- 3.26%
- 5Y*
- —
- 10Y*
- —
FNDC
- 1D
- 0.34%
- 1M
- 0.77%
- YTD
- 11.54%
- 6M
- 12.98%
- 1Y
- 26.36%
- 3Y*
- 17.46%
- 5Y*
- 7.25%
- 10Y*
- 9.15%
SCMB vs. FNDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SCMB Schwab Municipal Bond ETF | 1.07% | 3.78% | 0.91% | 5.86% | 2.88% |
FNDC Schwab Fundamental International Small Co. Index ETF | 11.54% | 35.65% | 1.38% | 14.92% | 17.18% |
Correlation
The correlation between SCMB and FNDC is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022 | 0.25 |
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Return for Risk
SCMB vs. FNDC — Risk / Return Rank
SCMB
FNDC
SCMB vs. FNDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Municipal Bond ETF (SCMB) and Schwab Fundamental International Small Co. Index ETF (FNDC). 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.
| SCMB | FNDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.31 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 2.23 | -0.15 |
| Martin ratioReturn relative to average drawdown | 6.87 | 8.23 | -1.36 |
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Drawdowns
SCMB vs. FNDC - Drawdown Comparison
The maximum SCMB drawdown since its inception was -6.13%, smaller than the maximum FNDC drawdown of -43.22%. Use the drawdown chart below to compare losses from any high point for SCMB and FNDC.
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Drawdown Indicators
| SCMB | FNDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.13% | -43.22% | +37.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.92% | -11.20% | +8.28% |
Max Drawdown (3Y)Largest decline over 3 years | -5.57% | -12.98% | +7.41% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.22% | — |
Current DrawdownCurrent decline from peak | -0.87% | -1.93% | +1.06% |
Average DrawdownAverage peak-to-trough decline | -1.32% | -8.44% | +7.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 3.04% | -2.16% |
Volatility
SCMB vs. FNDC - Volatility Comparison
The current volatility for Schwab Municipal Bond ETF (SCMB) is 0.96%, while Schwab Fundamental International Small Co. Index ETF (FNDC) has a volatility of 5.51%. This indicates that SCMB experiences smaller price fluctuations and is considered to be less risky than FNDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCMB | FNDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 5.51% | -4.55% |
Volatility (6M)Calculated over the trailing 6-month period | 2.16% | 12.47% | -10.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.89% | 14.81% | -11.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.15% | 16.08% | -11.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.15% | 16.82% | -12.67% |
SCMB vs. FNDC - Expense Ratio Comparison
SCMB has a 0.03% expense ratio, which is lower than FNDC's 0.39% expense ratio.
Dividends
SCMB vs. FNDC - Dividend Comparison
SCMB's dividend yield for the trailing twelve months is around 3.54%, more than FNDC's 3.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNDC Schwab Fundamental International Small Co. Index ETF | 3.46% | 3.86% | 3.59% | 2.86% | 1.98% | 2.58% | 1.77% | 2.71% | 2.68% | 1.94% | 1.95% | 1.30% |
SCMB Schwab Municipal Bond ETF | 3.54% | 3.36% | 3.34% | 3.10% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SCMB and FNDC have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNDC has higher volatility (5.51%) compared to SCMB (0.96%). In terms of maximum drawdown, SCMB dropped -6.13% vs FNDC's -43.22%.
On 3-year performance, FNDC leads with 17.46% vs 3.26% for SCMB. On fees, SCMB is cheaper at 0.03% per year. On volatility, SCMB has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FNDC has performed better with a 17.46% return vs 3.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCMB is cheaper with a 0.03% expense ratio, compared with 0.39% for FNDC.
SCMB has the higher dividend yield at 3.54%, compared with 3.46% for FNDC.
SCMB is categorized as Municipal Bonds, while FNDC is Foreign Small & Mid Cap Equities. SCMB tracks ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross, while FNDC tracks Russell RAFI Small Company Developed x US. Their fees differ too: 0.03% for SCMB and 0.39% for FNDC.
SCMB currently has the higher Sharpe Ratio (2.11 vs 1.69), 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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