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SFLNX vs. SPDW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SFLNX vs. SPDW

Last updated Jun 14, 2026

SFLNX (Schwab Fundamental US Large Company Index Fund) and SPDW (SPDR Portfolio World ex-US ETF) are both funds - SFLNX is a Large Cap Value Equities fund tracking the Russell RAFI US Large Company Index, while SPDW is a Foreign Large Cap Equities fund tracking the S&P Developed Ex-U.S. BMI Index. Both are passively managed. Over the past 10 years, SFLNX returned 14.31%/yr vs 10.64%/yr for SPDW. A 0.79 correlation means they provide meaningful diversification when combined. SFLNX charges 0.25%/yr vs 0.04%/yr for SPDW.

Performance

SFLNX vs. SPDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental US Large Company Index Fund (SFLNX) and SPDR Portfolio World ex-US ETF (SPDW). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with SFLNX having a 14.44% return and SPDW slightly higher at 14.86%. Over the past 10 years, SFLNX has outperformed SPDW with an annualized return of 14.31%, while SPDW has yielded a comparatively lower 10.64% annualized return.

SFLNX

1D
1.52%
1M
1.49%
YTD
14.44%
6M
13.87%
1Y
31.60%
3Y*
20.20%
5Y*
12.92%
10Y*
14.31%

SPDW

1D
0.29%
1M
1.53%
YTD
14.86%
6M
16.65%
1Y
31.27%
3Y*
19.01%
5Y*
9.30%
10Y*
10.64%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SFLNX vs. SPDW - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SFLNX
Schwab Fundamental US Large Company Index Fund		14.44%17.02%16.78%18.16%-6.89%31.64%9.12%28.91%-7.43%17.08%
SPDW
SPDR Portfolio World ex-US ETF		14.86%34.75%3.55%17.81%-15.98%11.45%9.90%22.41%-14.22%25.81%

Correlation

The correlation between SFLNX and SPDW is 0.75, 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

0.75

Correlation (3Y)
Calculated over the trailing 3-year period

0.75

Correlation (5Y)
Calculated over the trailing 5-year period

0.79

Correlation (10Y)
Calculated over the trailing 10-year period

0.78

Correlation (All Time)
Calculated using the full available price history since Jan 2, 2008

0.79

The correlation between SFLNX and SPDW has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.

SFLNX vs. SPDW - Sectors Allocation Comparison

Sectors
SFLNX
SPDW

Technology

19.0%
16.8%

Financial Services

13.9%
22.2%

Healthcare

11.9%
7.9%

Communication Services

10.3%
3.9%

Energy

10.2%
4.9%

Industrials

9.4%
18.4%

Consumer Cyclical

9.2%
7.8%

Consumer Defensive

7.4%
5.4%

Basic Materials

3.7%
7.3%

Utilities

3.2%
3.0%

Real Estate

1.8%
2.3%

Technology

SFLNX
19.0%
SPDW
16.8%

Financial Services

SFLNX
13.9%
SPDW
22.2%

Healthcare

SFLNX
11.9%
SPDW
7.9%

Communication Services

SFLNX
10.3%
SPDW
3.9%

Energy

SFLNX
10.2%
SPDW
4.9%

Industrials

SFLNX
9.4%
SPDW
18.4%

Consumer Cyclical

SFLNX
9.2%
SPDW
7.8%

Consumer Defensive

SFLNX
7.4%
SPDW
5.4%

Basic Materials

SFLNX
3.7%
SPDW
7.3%

Utilities

SFLNX
3.2%
SPDW
3.0%

Real Estate

SFLNX
1.8%
SPDW
2.3%

Compare stocks, funds, or ETFs

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Schwab Fundamental US Large Company Index Fund

SPDR Portfolio World ex-US ETF

Often compared with SFLNX:
SFLNX vs. SWLGXSFLNX vs. VFIAXSFLNX vs. VOOSFLNX vs. VDADXSFLNX vs. SEEGXSFLNX vs. SWTSXSFLNX vs. FLCOX
Often compared with SPDW:
SPDW vs. VEASPDW vs. VXUSSPDW vs. SCHFSPDW vs. VEUSPDW vs. SPYSPDW vs. VOOSPDW vs. IXUS

Return for Risk

SFLNX vs. SPDW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SFLNX
SFLNX Risk / Return Rank: 9393
Overall Rank
SFLNX Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
SFLNX Sortino Ratio Rank: 9191
Sortino Ratio Rank
SFLNX Omega Ratio Rank: 8787
Omega Ratio Rank
SFLNX Calmar Ratio Rank: 9595
Calmar Ratio Rank
SFLNX Martin Ratio Rank: 9696
Martin Ratio Rank
SPDW
SPDW Risk / Return Rank: 6262
Overall Rank
SPDW Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
SPDW Sortino Ratio Rank: 6262
Sortino Ratio Rank
SPDW Omega Ratio Rank: 6363
Omega Ratio Rank
SPDW Calmar Ratio Rank: 5959
Calmar Ratio Rank
SPDW Martin Ratio Rank: 6363
Martin Ratio Rank
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.

SFLNX vs. SPDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental US Large Company Index Fund (SFLNX) and SPDR Portfolio World ex-US ETF (SPDW). 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.

SFLNXSPDWDifference
Sharpe ratioReturn per unit of total volatility
2.92
1.80

+1.12

Sortino ratioReturn per unit of downside risk
4.05
2.51

+1.54

Omega ratioGain probability vs. loss probability

1.53

1.33

+0.20

Calmar ratioReturn relative to maximum drawdown

5.06

2.58

+2.49

Martin ratioReturn relative to average drawdown

19.68

9.95

+9.73

SFLNX vs. SPDW - Sharpe Ratio Comparison

The current SFLNX Sharpe Ratio is 2.92, which is higher than the SPDW Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of SFLNX and SPDW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SFLNX vs. SPDW - Drawdown Comparison

The maximum SFLNX drawdown since its inception was -56.18%, smaller than the maximum SPDW drawdown of -60.02%. Use the drawdown chart below to compare losses from any high point for SFLNX and SPDW.

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Drawdown Indicators

SFLNXSPDWDifference

Max Drawdown

Largest peak-to-trough decline

-56.18%

-60.02%

+3.84%

Max Drawdown (1Y)

Largest decline over 1 year

-6.10%

-11.55%

+5.45%

Max Drawdown (3Y)

Largest decline over 3 years

-16.27%

-13.53%

-2.74%

Max Drawdown (5Y)

Largest decline over 5 years

-18.98%

-30.21%

+11.23%

Max Drawdown (10Y)

Largest decline over 10 years

-37.59%

-34.98%

-2.61%

Current Drawdown

Current decline from peak

-0.73%

-0.99%

+0.26%

Average Drawdown

Average peak-to-trough decline

-6.00%

-12.89%

+6.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.57%

2.99%

-1.42%

Volatility

SFLNX vs. SPDW - Volatility Comparison

The current volatility for Schwab Fundamental US Large Company Index Fund (SFLNX) is 3.17%, while SPDR Portfolio World ex-US ETF (SPDW) has a volatility of 6.86%. This indicates that SFLNX experiences smaller price fluctuations and is considered to be less risky than SPDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SFLNXSPDWDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.17%

6.86%

-3.69%

Volatility (6M)

Calculated over the trailing 6-month period

7.81%

14.23%

-6.42%

Volatility (1Y)

Calculated over the trailing 1-year period

10.59%

16.51%

-5.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.30%

16.66%

-1.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.41%

17.31%

+1.10%

SFLNX vs. SPDW - Expense Ratio Comparison

SFLNX has a 0.25% expense ratio, which is higher than SPDW's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SFLNX vs. SPDW - Dividend Comparison

SFLNX's dividend yield for the trailing twelve months is around 1.46%, less than SPDW's 2.87% yield.

PositionTTM20252024202320222021202020192018201720162015
SFLNX
Schwab Fundamental US Large Company Index Fund		1.46%1.68%1.78%1.86%2.09%4.78%6.17%5.33%9.69%3.28%7.23%5.68%
SPDW
SPDR Portfolio World ex-US ETF		2.87%3.30%3.19%2.75%3.12%3.04%1.87%3.13%3.08%1.86%3.11%2.78%

Frequently Asked Questions

SFLNX and SPDW have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPDW has higher volatility (6.86%) compared to SFLNX (3.17%). In terms of maximum drawdown, SFLNX dropped -56.18% vs SPDW's -60.02%.

SFLNX currently has the higher Sharpe Ratio (2.92 vs 1.80), 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.

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