SFENX vs. SCHF

Last updated Jun 4, 2026

SFENX (Schwab Fundamental Emerging Markets Large Company Index Fund) and SCHF (Schwab International Equity ETF) are both funds - SFENX is a Emerging Markets Diversified fund managed by Charles Schwab, while SCHF is a Foreign Large Cap Equities fund tracking the FTSE Developed ex U.S. Index. Over the past 10 years, SFENX returned 11.44%/yr vs 10.27%/yr for SCHF. A 0.77 correlation means they provide meaningful diversification when combined. SFENX charges 0.39%/yr vs 0.06%/yr for SCHF.

Performance

SFENX vs. SCHF - 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 Schwab International Equity ETF (SCHF). 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 SCHF's 15.56% return. Over the past 10 years, SFENX has outperformed SCHF with an annualized return of 11.44%, while SCHF has yielded a comparatively lower 10.27% 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%

SCHF

• 1D: -0.86%
• 1M: 5.91%
• YTD: 15.56%
• 6M: 18.62%
• 1Y: 32.67%
• 3Y*: 19.90%
• 5Y*: 9.84%
• 10Y*: 10.27%

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

SFENX vs. SCHF - 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%
SCHF Schwab International Equity ETF	15.56%	34.55%	3.28%	18.35%	-14.80%	11.40%	9.48%	22.26%	-14.29%	26.03%

Correlation

The correlation between SFENX and SCHF is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Nov 4, 2009	0.77

The correlation between SFENX and SCHF has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.

Return for Risk

SFENX vs. SCHF — 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

SCHF

SCHF Risk / Return Rank: 59
SCHF Sharpe Ratio Rank: 60
SCHF Sortino Ratio Rank: 60
SCHF Omega Ratio Rank: 60
SCHF Calmar Ratio Rank: 56
SCHF Martin Ratio Rank: 61

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. SCHF - 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 Schwab International Equity ETF (SCHF). 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	SCHF	Difference
Sharpe ratio: Return per unit of total volatility	3.02	2.09	+0.93
Sortino ratio: Return per unit of downside risk	4.03	2.87	+1.16
Omega ratio: Gain probability vs. loss probability	1.56	1.37	+0.18
Calmar ratio: Return relative to maximum drawdown	4.24	2.86	+1.38
Martin ratio: Return relative to average drawdown	15.52	11.11	+4.41
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. SCHF - Sharpe Ratio Comparison

The current SFENX Sharpe Ratio is 3.02, which is higher than the SCHF Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of SFENX and SCHF, 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	SCHF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.02	2.09	+0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.60	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.60	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.44	+0.01

Drawdowns

SFENX vs. SCHF - Drawdown Comparison

The maximum SFENX drawdown since its inception was -47.19%, which is greater than SCHF's maximum drawdown of -34.87%. Use the drawdown chart below to compare losses from any high point for SFENX and SCHF.

Drawdown Indicators

	SFENX	SCHF	Difference
Max Drawdown Largest peak-to-trough decline	-47.19%	-34.87%	-12.32%
Max Drawdown (1Y) Largest decline over 1 year	-9.45%	-11.48%	+2.03%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-13.41%	-3.10%
Max Drawdown (5Y) Largest decline over 5 years	-29.26%	-29.14%	-0.12%
Max Drawdown (10Y) Largest decline over 10 years	-39.59%	-34.87%	-4.72%
Current Drawdown Current decline from peak	0.00%	-0.86%	+0.86%
Average Drawdown Average peak-to-trough decline	-12.89%	-7.38%	-5.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	2.95%	-0.37%

Volatility

SFENX vs. SCHF - Volatility Comparison

The current volatility for Schwab Fundamental Emerging Markets Large Company Index Fund (SFENX) is 4.55%, while Schwab International Equity ETF (SCHF) has a volatility of 5.66%. This indicates that SFENX experiences smaller price fluctuations and is considered to be less risky than SCHF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFENX	SCHF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.55%	5.66%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	10.71%	13.34%	-2.63%
Volatility (1Y) Calculated over the trailing 1-year period	13.27%	15.74%	-2.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.41%	16.39%	-0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	17.18%	-0.26%

SFENX vs. SCHF - Expense Ratio Comparison

SFENX has a 0.39% expense ratio, which is higher than SCHF's 0.06% expense ratio.

Dividends

SFENX vs. SCHF - Dividend Comparison

SFENX's dividend yield for the trailing twelve months is around 3.35%, more than SCHF's 2.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHF Schwab International Equity ETF	2.96%	3.42%	3.26%	2.97%	2.80%	3.19%	2.08%	2.95%	3.06%	2.35%	2.58%	2.26%
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 SCHF in my portfolio?

SFENX and SCHF have a correlation of 0.71, 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 SCHF?

SCHF has higher volatility (5.66%) compared to SFENX (4.55%). In terms of maximum drawdown, SFENX dropped -47.19% vs SCHF's -34.87%.

Which has better risk-adjusted returns?

SFENX currently has the higher Sharpe Ratio (3.02 vs 2.09), 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.