SFENX vs. RBESX

Last updated Jun 4, 2026

SFENX (Schwab Fundamental Emerging Markets Large Company Index Fund) and RBESX (RBC BlueBay Emerging Market Debt Fund) are both mutual funds - SFENX is a Emerging Markets Diversified fund managed by Charles Schwab, while RBESX is a Emerging Markets Bonds fund managed by RBC Global Asset Management.. Over the past 10 years, SFENX returned 11.44%/yr vs 4.96%/yr for RBESX. At a 0.49 correlation, their price movements are largely independent. SFENX charges 0.39%/yr vs 0.79%/yr for RBESX.

Performance

SFENX vs. RBESX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental Emerging Markets Large Company Index Fund (SFENX) and RBC BlueBay Emerging Market Debt Fund (RBESX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFENX achieves a 17.28% return, which is significantly higher than RBESX's 3.60% return. Over the past 10 years, SFENX has outperformed RBESX with an annualized return of 11.44%, while RBESX has yielded a comparatively lower 4.96% annualized return.

SFENX

• 1D: 1.76%
• 1M: 4.72%
• YTD: 17.28%
• 6M: 18.13%
• 1Y: 39.03%
• 3Y*: 22.38%
• 5Y*: 10.10%
• 10Y*: 11.44%

RBESX

• 1D: 0.33%
• 1M: 1.42%
• YTD: 3.60%
• 6M: 4.47%
• 1Y: 15.30%
• 3Y*: 12.55%
• 5Y*: 4.37%
• 10Y*: 4.96%

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

SFENX vs. RBESX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SFENX Schwab Fundamental Emerging Markets Large Company Index Fund	17.28%	29.19%	12.31%	14.90%	-15.50%	13.91%	-3.01%	19.46%	-9.96%	26.44%
RBESX RBC BlueBay Emerging Market Debt Fund	3.60%	14.64%	6.90%	15.63%	-14.57%	-3.45%	7.02%	15.39%	-5.05%	12.78%

Correlation

The correlation between SFENX and RBESX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jan 4, 2012	0.49

The correlation between SFENX and RBESX shifts across timeframes, from 0.33 (3 years) to 0.49 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SFENX vs. RBESX — Risk / Return Rank

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

SFENX

SFENX Risk / Return Rank: 86
SFENX Sharpe Ratio Rank: 91
SFENX Sortino Ratio Rank: 85
SFENX Omega Ratio Rank: 83
SFENX Calmar Ratio Rank: 87
SFENX Martin Ratio Rank: 82

RBESX

RBESX Risk / Return Rank: 91
RBESX Sharpe Ratio Rank: 97
RBESX Sortino Ratio Rank: 97
RBESX Omega Ratio Rank: 96
RBESX Calmar Ratio Rank: 82
RBESX Martin Ratio Rank: 83

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.

SFENX vs. RBESX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental Emerging Markets Large Company Index Fund (SFENX) and RBC BlueBay Emerging Market Debt Fund (RBESX). 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.

	SFENX	RBESX	Difference
Sharpe ratio: Return per unit of total volatility	3.02	3.71	-0.69
Sortino ratio: Return per unit of downside risk	4.03	6.07	-2.05
Omega ratio: Gain probability vs. loss probability	1.56	1.82	-0.26
Calmar ratio: Return relative to maximum drawdown	4.24	3.76	+0.49
Martin ratio: Return relative to average drawdown	15.52	15.71	-0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SFENX vs. RBESX - Sharpe Ratio Comparison

The current SFENX Sharpe Ratio is 3.02, which is comparable to the RBESX Sharpe Ratio of 3.71. The chart below compares the historical Sharpe Ratios of SFENX and RBESX, 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

	SFENX	RBESX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.02	3.71	-0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.63	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.13	+0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.12	+0.33

Drawdowns

SFENX vs. RBESX - Drawdown Comparison

The maximum SFENX drawdown since its inception was -47.19%, smaller than the maximum RBESX drawdown of -51.19%. Use the drawdown chart below to compare losses from any high point for SFENX and RBESX.

Drawdown Indicators

	SFENX	RBESX	Difference
Max Drawdown Largest peak-to-trough decline	-47.19%	-51.19%	+4.00%
Max Drawdown (1Y) Largest decline over 1 year	-9.45%	-4.18%	-5.27%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-7.02%	-9.49%
Max Drawdown (5Y) Largest decline over 5 years	-29.26%	-26.82%	-2.44%
Max Drawdown (10Y) Largest decline over 10 years	-39.59%	-51.19%	+11.60%
Current Drawdown Current decline from peak	0.00%	-17.90%	+17.90%
Average Drawdown Average peak-to-trough decline	-12.89%	-25.42%	+12.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	1.00%	+1.58%

Volatility

SFENX vs. RBESX - Volatility Comparison

Schwab Fundamental Emerging Markets Large Company Index Fund (SFENX) has a higher volatility of 4.55% compared to RBC BlueBay Emerging Market Debt Fund (RBESX) at 1.58%. This indicates that SFENX's price experiences larger fluctuations and is considered to be riskier than RBESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFENX	RBESX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.55%	1.58%	+2.97%
Volatility (6M) Calculated over the trailing 6-month period	10.71%	3.51%	+7.20%
Volatility (1Y) Calculated over the trailing 1-year period	13.27%	4.24%	+9.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.41%	6.96%	+8.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	36.88%	-19.96%

SFENX vs. RBESX - Expense Ratio Comparison

SFENX has a 0.39% expense ratio, which is lower than RBESX's 0.79% expense ratio.

Dividends

SFENX vs. RBESX - Dividend Comparison

SFENX's dividend yield for the trailing twelve months is around 3.35%, less than RBESX's 5.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RBESX RBC BlueBay Emerging Market Debt Fund	5.04%	5.58%	6.59%	6.60%	7.85%	3.37%	3.58%	5.94%	3.78%	3.67%	0.00%	0.00%
SFENX Schwab Fundamental Emerging Markets Large Company Index Fund	3.35%	3.93%	4.67%	5.00%	5.46%	4.61%	2.95%	3.82%	2.90%	2.37%	2.16%	3.23%

Frequently Asked Questions

Can I hold both SFENX and RBESX in my portfolio?

SFENX and RBESX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SFENX or RBESX?

SFENX has higher volatility (4.55%) compared to RBESX (1.58%). In terms of maximum drawdown, SFENX dropped -47.19% vs RBESX's -51.19%.

Which has better risk-adjusted returns?

RBESX currently has the higher Sharpe Ratio (3.71 vs 3.02), 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.