SFILX vs. FMNEX

Last updated Aug 5, 2026

SFILX (Schwab Fundamental International Small Company Index Fund) and FMNEX (RBB Free Market International Equity Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, SFILX returned 8.36%/yr vs 9.80%/yr for FMNEX. Their correlation of 0.95 means they have usually moved in the same direction. SFILX charges 0.39%/yr vs 0.56%/yr for FMNEX.

Performance

SFILX vs. FMNEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental International Small Company Index Fund (SFILX) and RBB Free Market International Equity Fund (FMNEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFILX achieves a 11.76% return, which is significantly lower than FMNEX's 13.13% return. Over the past 10 years, SFILX has underperformed FMNEX with an annualized return of 8.36%, while FMNEX has yielded a comparatively higher 9.80% annualized return.

SFILX

• 1D: 0.93%
• 1M: 1.89%
• 6M: 4.53%
• YTD: 11.76%
• 1Y: 21.61%
• 3Y*: 17.54%
• 5Y*: 7.79%
• 10Y*: 8.36%
• ALL TIME*: 9.87%

FMNEX

• 1D: 0.69%
• 1M: 2.51%
• 6M: 5.08%
• YTD: 13.13%
• 1Y: 29.40%
• 3Y*: 19.94%
• 5Y*: 11.42%
• 10Y*: 9.80%
• ALL TIME*: 5.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FMNEX RBB Free Market International Equity Fund	$0.00	$0.00	$0.00
SFILX Schwab Fundamental International Small Company Index Fund	$0.00	$0.00	$0.00

SFILX vs. FMNEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SFILX Schwab Fundamental International Small Company Index Fund	11.76%	36.17%	1.29%	14.80%	-14.89%	9.69%	7.50%	19.58%	-18.67%	26.08%
FMNEX RBB Free Market International Equity Fund	13.13%	42.81%	2.15%	16.13%	-10.54%	14.50%	2.74%	17.72%	-19.58%	27.74%

Correlation

The correlation between SFILX and FMNEX is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.96
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009	0.95

The correlation between SFILX and FMNEX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

SFILX vs. FMNEX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SFILX

SFILX Risk / Return Rank: 56
SFILX Sharpe Ratio Rank: 61
SFILX Sortino Ratio Rank: 61
SFILX Omega Ratio Rank: 60
SFILX Calmar Ratio Rank: 51
SFILX Martin Ratio Rank: 46

FMNEX

FMNEX Risk / Return Rank: 80
FMNEX Sharpe Ratio Rank: 85
FMNEX Sortino Ratio Rank: 81
FMNEX Omega Ratio Rank: 80
FMNEX Calmar Ratio Rank: 77
FMNEX Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SFILX vs. FMNEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental International Small Company Index Fund (SFILX) and RBB Free Market International Equity Fund (FMNEX). 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.

	SFILX	FMNEX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.13	-0.50
Sortino ratio: Return per unit of downside risk	2.35	2.92	-0.58
Omega ratio: Gain probability vs. loss probability	1.30	1.39	-0.08
Calmar ratio: Return relative to maximum drawdown	2.05	2.73	-0.69
Martin ratio: Return relative to average drawdown	7.00	10.13	-3.13

SFILX vs. FMNEX - Sharpe Ratio Comparison

The current SFILX Sharpe Ratio is 1.64, which is comparable to the FMNEX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of SFILX and FMNEX, 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

SFILX vs. FMNEX - Drawdown Comparison

The maximum SFILX drawdown since its inception was -43.13%, smaller than the maximum FMNEX drawdown of -59.76%. Use the drawdown chart below to compare losses from any high point for SFILX and FMNEX.

Drawdown Indicators

	SFILX	FMNEX	Difference
Max Drawdown Largest peak-to-trough decline	-43.13%	-59.76%	+16.63%
Max Drawdown (1Y) Largest decline over 1 year	-11.35%	-11.38%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	-11.95%	-13.46%	+1.51%
Max Drawdown (5Y) Largest decline over 5 years	-32.29%	-26.61%	-5.68%
Max Drawdown (10Y) Largest decline over 10 years	-43.13%	-47.35%	+4.22%
Current Drawdown Current decline from peak	-1.43%	0.00%	-1.43%
Average Drawdown Average peak-to-trough decline	-8.14%	-12.10%	+3.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	3.07%	+0.24%

Volatility

SFILX vs. FMNEX - Volatility Comparison

Schwab Fundamental International Small Company Index Fund (SFILX) and RBB Free Market International Equity Fund (FMNEX) have volatilities of 4.38% and 4.54%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFILX	FMNEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.38%	4.54%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	11.97%	12.44%	-0.47%
Volatility (1Y) Calculated over the trailing 1-year period	14.20%	14.60%	-0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.38%	15.64%	-0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.01%	15.91%	+0.10%

SFILX vs. FMNEX - Expense Ratio Comparison

SFILX has a 0.39% expense ratio, which is lower than FMNEX's 0.56% expense ratio.

Dividends

SFILX vs. FMNEX - Dividend Comparison

SFILX's dividend yield for the trailing twelve months is around 7.53%, more than FMNEX's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMNEX RBB Free Market International Equity Fund	4.15%	4.69%	0.00%	2.49%	3.46%	1.31%	3.03%	2.56%	4.12%	3.30%	3.17%	3.60%
SFILX Schwab Fundamental International Small Company Index Fund	7.53%	8.41%	4.71%	3.11%	4.88%	6.00%	1.98%	2.78%	5.77%	1.41%	2.45%	2.09%

Frequently Asked Questions

Can I hold both SFILX and FMNEX in my portfolio?

With a correlation of 0.96, SFILX and FMNEX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SFILX or FMNEX?

FMNEX has higher volatility (4.54%) compared to SFILX (4.38%). In terms of maximum drawdown, SFILX dropped -43.13% vs FMNEX's -59.76%.

Which has better risk-adjusted returns?

FMNEX currently has the higher Sharpe Ratio (2.13 vs 1.64), 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.