SFNNX vs. IVLU

Last updated Jun 24, 2026

SFNNX (Schwab Fundamental International Equity Index Fund) and IVLU (iShares MSCI International Value Factor ETF) are both Foreign Large Cap Equities funds - SFNNX tracks the RAFI Fundamental High Liquidity Developed ex US Large Index (Net) while IVLU tracks the MSCI World ex USA Enhanced Value Index. Both are passively managed. Over the past 10 years, SFNNX returned 12.33%/yr vs 11.56%/yr for IVLU. Their correlation of 0.90 suggests significant overlap in exposure. SFNNX charges 0.25%/yr vs 0.30%/yr for IVLU.

Performance

SFNNX vs. IVLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental International Equity Index Fund (SFNNX) and iShares MSCI International Value Factor ETF (IVLU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFNNX achieves a 19.01% return, which is significantly higher than IVLU's 11.28% return. Over the past 10 years, SFNNX has outperformed IVLU with an annualized return of 12.33%, while IVLU has yielded a comparatively lower 11.56% annualized return.

SFNNX

• 1D: -0.36%
• 1M: 1.10%
• YTD: 19.01%
• 6M: 19.35%
• 1Y: 42.43%
• 3Y*: 23.37%
• 5Y*: 13.63%
• 10Y*: 12.33%

IVLU

• 1D: -1.89%
• 1M: -0.75%
• YTD: 11.28%
• 6M: 10.90%
• 1Y: 34.48%
• 3Y*: 23.64%
• 5Y*: 14.30%
• 10Y*: 11.56%

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

SFNNX vs. IVLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SFNNX Schwab Fundamental International Equity Index Fund	19.01%	41.06%	2.27%	19.88%	-7.95%	14.38%	4.35%	18.09%	-13.96%	23.95%
IVLU iShares MSCI International Value Factor ETF	11.28%	46.09%	6.76%	20.07%	-5.73%	15.60%	-4.50%	15.60%	-15.10%	23.10%

Correlation

The correlation between SFNNX and IVLU is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jul 15, 2015	0.90

The correlation between SFNNX and IVLU has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

Return for Risk

SFNNX vs. IVLU — Risk / Return Rank

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

SFNNX

SFNNX Risk / Return Rank: 86
SFNNX Sharpe Ratio Rank: 92
SFNNX Sortino Ratio Rank: 83
SFNNX Omega Ratio Rank: 84
SFNNX Calmar Ratio Rank: 87
SFNNX Martin Ratio Rank: 85

IVLU

IVLU Risk / Return Rank: 68
IVLU Sharpe Ratio Rank: 72
IVLU Sortino Ratio Rank: 70
IVLU Omega Ratio Rank: 70
IVLU Calmar Ratio Rank: 62
IVLU Martin Ratio Rank: 65

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.

SFNNX vs. IVLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental International Equity Index Fund (SFNNX) and iShares MSCI International Value Factor ETF (IVLU). 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.

	SFNNX	IVLU	Difference
Sharpe ratio: Return per unit of total volatility	2.84	2.21	+0.62
Sortino ratio: Return per unit of downside risk	3.63	3.03	+0.60
Omega ratio: Gain probability vs. loss probability	1.52	1.40	+0.12
Calmar ratio: Return relative to maximum drawdown	4.05	2.96	+1.09
Martin ratio: Return relative to average drawdown	14.87	11.24	+3.63

SFNNX vs. IVLU - Sharpe Ratio Comparison

The current SFNNX Sharpe Ratio is 2.84, which is comparable to the IVLU Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of SFNNX and IVLU, 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

SFNNX vs. IVLU - Drawdown Comparison

The maximum SFNNX drawdown since its inception was -59.60%, which is greater than IVLU's maximum drawdown of -41.85%. Use the drawdown chart below to compare losses from any high point for SFNNX and IVLU.

Drawdown Indicators

	SFNNX	IVLU	Difference
Max Drawdown Largest peak-to-trough decline	-59.60%	-41.85%	-17.75%
Max Drawdown (1Y) Largest decline over 1 year	-10.63%	-11.69%	+1.06%
Max Drawdown (3Y) Largest decline over 3 years	-13.78%	-15.48%	+1.70%
Max Drawdown (5Y) Largest decline over 5 years	-25.66%	-26.04%	+0.38%
Max Drawdown (10Y) Largest decline over 10 years	-40.23%	-41.85%	+1.62%
Current Drawdown Current decline from peak	-2.07%	-2.23%	+0.16%
Average Drawdown Average peak-to-trough decline	-11.94%	-8.56%	-3.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	3.08%	-0.19%

Volatility

SFNNX vs. IVLU - Volatility Comparison

Schwab Fundamental International Equity Index Fund (SFNNX) has a higher volatility of 6.13% compared to iShares MSCI International Value Factor ETF (IVLU) at 5.27%. This indicates that SFNNX's price experiences larger fluctuations and is considered to be riskier than IVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFNNX	IVLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	5.27%	+0.86%
Volatility (6M) Calculated over the trailing 6-month period	12.73%	12.94%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	15.23%	15.65%	-0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.70%	16.54%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.29%	17.44%	-0.15%

SFNNX vs. IVLU - Expense Ratio Comparison

SFNNX has a 0.25% expense ratio, which is lower than IVLU's 0.30% expense ratio.

Dividends

SFNNX vs. IVLU - Dividend Comparison

SFNNX's dividend yield for the trailing twelve months is around 4.30%, more than IVLU's 3.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVLU iShares MSCI International Value Factor ETF	3.38%	3.71%	4.46%	4.69%	3.59%	3.47%	2.05%	3.53%	2.82%	2.87%	2.53%	0.93%
SFNNX Schwab Fundamental International Equity Index Fund	4.30%	5.11%	3.61%	3.26%	2.92%	3.81%	2.42%	3.69%	3.51%	2.70%	3.21%	2.92%

Frequently Asked Questions

Can I hold both SFNNX and IVLU in my portfolio?

With a correlation of 0.91, SFNNX and IVLU 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, SFNNX or IVLU?

SFNNX has higher volatility (6.13%) compared to IVLU (5.27%). In terms of maximum drawdown, SFNNX dropped -59.60% vs IVLU's -41.85%.

Which has better risk-adjusted returns?

SFNNX currently has the higher Sharpe Ratio (2.84 vs 2.21), 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.