SFENX vs. SFSNX

Last updated Jul 14, 2026

SFENX (Schwab Fundamental Emerging Markets Equity Index Fund) and SFSNX (Schwab Fundamental US Small Company Index Fund) are both mutual funds - SFENX is a Emerging Markets Equities fund tracking the RAFI Fundamental High Liquidity Emerging Markets Index, while SFSNX is a Small Cap Blend Equities fund managed by Charles Schwab. Over the past 10 years, SFENX returned 10.10%/yr vs 10.89%/yr for SFSNX. A 0.64 correlation means they provide meaningful diversification when combined. SFENX charges 0.39%/yr vs 0.25%/yr for SFSNX.

Performance

SFENX vs. SFSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental Emerging Markets Equity Index Fund (SFENX) and Schwab Fundamental US Small Company Index Fund (SFSNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFENX achieves a 12.17% return, which is significantly lower than SFSNX's 19.26% return. Over the past 10 years, SFENX has underperformed SFSNX with an annualized return of 10.10%, while SFSNX has yielded a comparatively higher 10.89% annualized return.

SFENX

• 1D: 0.79%
• 1M: -1.32%
• 6M: 7.98%
• YTD: 12.17%
• 1Y: 26.24%
• 3Y*: 20.19%
• 5Y*: 9.83%
• 10Y*: 10.10%

SFSNX

• 1D: 0.18%
• 1M: 0.85%
• 6M: 12.63%
• YTD: 19.26%
• 1Y: 27.74%
• 3Y*: 15.41%
• 5Y*: 8.25%
• 10Y*: 10.89%

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

SFENX vs. SFSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	12.17%	29.19%	12.31%	14.90%	-15.50%	13.91%	-3.01%	19.46%	-9.96%	26.44%
SFSNX Schwab Fundamental US Small Company Index Fund	19.26%	7.66%	8.99%	20.15%	-14.79%	30.91%	8.49%	24.44%	-12.26%	12.84%

Correlation

The correlation between SFENX and SFSNX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009	0.64

The correlation between SFENX and SFSNX shifts across timeframes, from 0.48 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SFENX vs. SFSNX — Risk / Return Rank

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

SFENX

SFENX Risk / Return Rank: 66
SFENX Sharpe Ratio Rank: 69
SFENX Sortino Ratio Rank: 63
SFENX Omega Ratio Rank: 67
SFENX Calmar Ratio Rank: 76
SFENX Martin Ratio Rank: 53

SFSNX

SFSNX Risk / Return Rank: 56
SFSNX Sharpe Ratio Rank: 47
SFSNX Sortino Ratio Rank: 51
SFSNX Omega Ratio Rank: 43
SFSNX Calmar Ratio Rank: 78
SFSNX Martin Ratio Rank: 59

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. SFSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental Emerging Markets Equity Index Fund (SFENX) and Schwab Fundamental US Small Company Index Fund (SFSNX). 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.

	SFENX	SFSNX	Difference
Sharpe ratio: Return per unit of total volatility	1.84	1.55	+0.29
Sortino ratio: Return per unit of downside risk	2.50	2.29	+0.21
Omega ratio: Gain probability vs. loss probability	1.34	1.27	+0.07
Calmar ratio: Return relative to maximum drawdown	2.75	2.82	-0.07
Martin ratio: Return relative to average drawdown	8.59	9.21	-0.62

SFENX vs. SFSNX - Sharpe Ratio Comparison

The current SFENX Sharpe Ratio is 1.84, which is comparable to the SFSNX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of SFENX and SFSNX, 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

SFENX vs. SFSNX - Drawdown Comparison

The maximum SFENX drawdown since its inception was -47.19%, smaller than the maximum SFSNX drawdown of -58.32%. Use the drawdown chart below to compare losses from any high point for SFENX and SFSNX.

Drawdown Indicators

	SFENX	SFSNX	Difference
Max Drawdown Largest peak-to-trough decline	-47.19%	-58.32%	+11.13%
Max Drawdown (1Y) Largest decline over 1 year	-9.45%	-9.43%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-25.91%	+9.40%
Max Drawdown (5Y) Largest decline over 5 years	-29.26%	-25.91%	-3.35%
Max Drawdown (10Y) Largest decline over 10 years	-39.59%	-44.82%	+5.23%
Current Drawdown Current decline from peak	-4.36%	-1.62%	-2.74%
Average Drawdown Average peak-to-trough decline	-12.84%	-8.27%	-4.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	2.90%	+0.12%

Volatility

SFENX vs. SFSNX - Volatility Comparison

Schwab Fundamental Emerging Markets Equity Index Fund (SFENX) has a higher volatility of 5.14% compared to Schwab Fundamental US Small Company Index Fund (SFSNX) at 4.66%. This indicates that SFENX's price experiences larger fluctuations and is considered to be riskier than SFSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFENX	SFSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	4.66%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	11.99%	12.26%	-0.27%
Volatility (1Y) Calculated over the trailing 1-year period	14.14%	17.27%	-3.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.56%	20.76%	-5.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.78%	23.21%	-6.43%

SFENX vs. SFSNX - Expense Ratio Comparison

SFENX has a 0.39% expense ratio, which is higher than SFSNX's 0.25% expense ratio.

Dividends

SFENX vs. SFSNX - Dividend Comparison

SFENX's dividend yield for the trailing twelve months is around 3.50%, more than SFSNX's 1.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	3.50%	3.93%	4.67%	5.00%	5.46%	4.61%	2.95%	3.82%	2.90%	2.37%	2.16%	3.23%
SFSNX Schwab Fundamental US Small Company Index Fund	1.14%	1.36%	1.71%	1.37%	7.05%	12.27%	1.42%	3.66%	11.55%	6.88%	1.86%	6.37%

Frequently Asked Questions

Can I hold both SFENX and SFSNX in my portfolio?

SFENX and SFSNX have a correlation of 0.48, 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 SFSNX?

SFENX has higher volatility (5.14%) compared to SFSNX (4.66%). In terms of maximum drawdown, SFENX dropped -47.19% vs SFSNX's -58.32%.

Which has better risk-adjusted returns?

SFENX currently has the higher Sharpe Ratio (1.84 vs 1.55), 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.