SFENX vs. VWO

Last updated Jun 4, 2026

SFENX (Schwab Fundamental Emerging Markets Large Company Index Fund) and VWO (Vanguard FTSE Emerging Markets ETF) are both funds - SFENX is a Emerging Markets Diversified fund managed by Charles Schwab, while VWO is a Emerging Markets Equities fund tracking the FTSE Emerging Index. Over the past 10 years, SFENX returned 11.44%/yr vs 8.85%/yr for VWO. Their correlation of 0.90 suggests significant overlap in exposure. SFENX charges 0.39%/yr vs 0.08%/yr for VWO.

Performance

SFENX vs. VWO - 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 Vanguard FTSE Emerging Markets ETF (VWO). 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 VWO's 12.22% return. Over the past 10 years, SFENX has outperformed VWO with an annualized return of 11.44%, while VWO has yielded a comparatively lower 8.85% 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%

VWO

• 1D: -1.41%
• 1M: 2.72%
• YTD: 12.22%
• 6M: 13.79%
• 1Y: 30.72%
• 3Y*: 18.02%
• 5Y*: 5.17%
• 10Y*: 8.85%

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

SFENX vs. VWO - 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%
VWO Vanguard FTSE Emerging Markets ETF	12.22%	25.60%	10.59%	9.25%	-17.98%	1.26%	15.17%	20.75%	-14.76%	31.49%

Correlation

The correlation between SFENX and VWO is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jan 5, 2009	0.90

The correlation between SFENX and VWO has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

Return for Risk

SFENX vs. VWO — 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

VWO

VWO Risk / Return Rank: 56
VWO Sharpe Ratio Rank: 56
VWO Sortino Ratio Rank: 55
VWO Omega Ratio Rank: 57
VWO Calmar Ratio Rank: 54
VWO Martin Ratio Rank: 56

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. VWO - 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 Vanguard FTSE Emerging Markets ETF (VWO). 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	VWO	Difference
Sharpe ratio: Return per unit of total volatility	3.02	1.94	+1.08
Sortino ratio: Return per unit of downside risk	4.03	2.69	+1.33
Omega ratio: Gain probability vs. loss probability	1.56	1.36	+0.20
Calmar ratio: Return relative to maximum drawdown	4.24	2.76	+1.48
Martin ratio: Return relative to average drawdown	15.52	9.96	+5.56
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. VWO - Sharpe Ratio Comparison

The current SFENX Sharpe Ratio is 3.02, which is higher than the VWO Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of SFENX and VWO, 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	VWO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.02	1.94	+1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.30	+0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.46	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.27	+0.18

Drawdowns

SFENX vs. VWO - Drawdown Comparison

The maximum SFENX drawdown since its inception was -47.19%, smaller than the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for SFENX and VWO.

Drawdown Indicators

	SFENX	VWO	Difference
Max Drawdown Largest peak-to-trough decline	-47.19%	-67.68%	+20.49%
Max Drawdown (1Y) Largest decline over 1 year	-9.45%	-11.17%	+1.72%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-17.37%	+0.86%
Max Drawdown (5Y) Largest decline over 5 years	-29.26%	-32.64%	+3.38%
Max Drawdown (10Y) Largest decline over 10 years	-39.59%	-36.39%	-3.20%
Current Drawdown Current decline from peak	0.00%	-1.41%	+1.41%
Average Drawdown Average peak-to-trough decline	-12.89%	-15.82%	+2.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	3.09%	-0.51%

Volatility

SFENX vs. VWO - Volatility Comparison

The current volatility for Schwab Fundamental Emerging Markets Large Company Index Fund (SFENX) is 4.55%, while Vanguard FTSE Emerging Markets ETF (VWO) has a volatility of 5.61%. This indicates that SFENX experiences smaller price fluctuations and is considered to be less risky than VWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFENX	VWO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.55%	5.61%	-1.06%
Volatility (6M) Calculated over the trailing 6-month period	10.71%	13.22%	-2.51%
Volatility (1Y) Calculated over the trailing 1-year period	13.27%	15.89%	-2.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.41%	17.37%	-1.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	19.20%	-2.28%

SFENX vs. VWO - Expense Ratio Comparison

SFENX has a 0.39% expense ratio, which is higher than VWO's 0.08% expense ratio.

Dividends

SFENX vs. VWO - Dividend Comparison

SFENX's dividend yield for the trailing twelve months is around 3.35%, more than VWO's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VWO Vanguard FTSE Emerging Markets ETF	2.40%	2.79%	3.20%	3.52%	4.11%	2.63%	1.91%	3.23%	2.88%	2.30%	2.52%	3.26%

Frequently Asked Questions

Can I hold both SFENX and VWO in my portfolio?

SFENX and VWO have a correlation of 0.90, 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 VWO?

VWO has higher volatility (5.61%) compared to SFENX (4.55%). In terms of maximum drawdown, SFENX dropped -47.19% vs VWO's -67.68%.

Which has better risk-adjusted returns?

SFENX currently has the higher Sharpe Ratio (3.02 vs 1.94), 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.