SFSNX vs. ISCG

Last updated Aug 4, 2026

SFSNX (Schwab Fundamental U.S. Small Company Index Fund) and ISCG (iShares Morningstar Small-Cap Growth ETF) are both funds - SFSNX is a Small Cap Blend Equities fund tracking the RAFI Fundamental High Liquidity US Small Index, while ISCG is a Small Cap Growth Equities fund tracking the Morningstar US Small Cap Broad Growth Extended Index. Both are passively managed. Over the past 10 years, SFSNX returned 10.89%/yr vs 10.96%/yr for ISCG. Their correlation of 0.88 means they have usually moved in the same direction. SFSNX charges 0.25%/yr vs 0.06%/yr for ISCG.

Performance

SFSNX vs. ISCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental U.S. Small Company Index Fund (SFSNX) and iShares Morningstar Small-Cap Growth ETF (ISCG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFSNX achieves a 18.41% return, which is significantly higher than ISCG's 15.27% return. Both investments have delivered pretty close results over the past 10 years, with SFSNX having a 10.89% annualized return and ISCG not far ahead at 10.96%.

SFSNX

• 1D: -0.09%
• 1M: -1.24%
• 6M: 10.77%
• YTD: 18.41%
• 1Y: 30.87%
• 3Y*: 13.19%
• 5Y*: 8.52%
• 10Y*: 10.89%
• ALL TIME*: 10.04%

ISCG

• 1D: 1.80%
• 1M: -1.30%
• 6M: 10.53%
• YTD: 15.27%
• 1Y: 28.31%
• 3Y*: 15.66%
• 5Y*: 5.85%
• 10Y*: 10.96%
• ALL TIME*: 9.52%

*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)
ISCG iShares Morningstar Small-Cap Growth ETF	$1.42M	$1.48M	$1.82M
SFSNX Schwab Fundamental U.S. Small Company Index Fund	$0.00	$0.00	$0.00

SFSNX vs. ISCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SFSNX Schwab Fundamental U.S. Small Company Index Fund	18.41%	7.66%	8.99%	20.15%	-14.79%	30.91%	8.49%	24.44%	-12.26%	12.84%
ISCG iShares Morningstar Small-Cap Growth ETF	15.27%	12.88%	13.35%	23.13%	-26.75%	-1.26%	43.41%	27.66%	-6.91%	24.68%

Correlation

The correlation between SFSNX and ISCG is 0.89, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.89
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008	0.88

The correlation between SFSNX and ISCG has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

SFSNX vs. ISCG - Sectors Allocation Comparison

Sectors	SFSNX	ISCG
Industrials	19.4%	22.2%
Technology	15.6%	21.8%
Financial Services	15.0%	10.0%
Consumer Cyclical	12.8%	8.4%
Real Estate	10.1%	5.4%
Healthcare	7.6%	18.3%
Energy	4.8%	3.1%
Basic Materials	4.6%	4.3%
Communication Services	3.8%	2.8%
Consumer Defensive	3.8%	2.6%
Utilities	2.6%	1.0%

Return for Risk

SFSNX vs. ISCG — Risk / Return Rank

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

SFSNX

SFSNX Risk / Return Rank: 74
SFSNX Sharpe Ratio Rank: 70
SFSNX Sortino Ratio Rank: 71
SFSNX Omega Ratio Rank: 63
SFSNX Calmar Ratio Rank: 86
SFSNX Martin Ratio Rank: 79

ISCG

ISCG Risk / Return Rank: 65
ISCG Sharpe Ratio Rank: 64
ISCG Sortino Ratio Rank: 65
ISCG Omega Ratio Rank: 58
ISCG Calmar Ratio Rank: 69
ISCG Martin Ratio Rank: 71

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.

SFSNX vs. ISCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental U.S. Small Company Index Fund (SFSNX) and iShares Morningstar Small-Cap Growth ETF (ISCG). 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.

	SFSNX	ISCG	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.53	+0.17
Sortino ratio: Return per unit of downside risk	2.50	2.20	+0.30
Omega ratio: Gain probability vs. loss probability	1.30	1.26	+0.04
Calmar ratio: Return relative to maximum drawdown	3.06	2.49	+0.58
Martin ratio: Return relative to average drawdown	10.13	8.98	+1.15

SFSNX vs. ISCG - Sharpe Ratio Comparison

The current SFSNX Sharpe Ratio is 1.70, which is comparable to the ISCG Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of SFSNX and ISCG, 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

SFSNX vs. ISCG - Drawdown Comparison

The maximum SFSNX drawdown since its inception was -58.32%, roughly equal to the maximum ISCG drawdown of -57.72%. Use the drawdown chart below to compare losses from any high point for SFSNX and ISCG.

Drawdown Indicators

	SFSNX	ISCG	Difference
Max Drawdown Largest peak-to-trough decline	-58.32%	-57.72%	-0.60%
Max Drawdown (1Y) Largest decline over 1 year	-9.43%	-11.43%	+2.00%
Max Drawdown (3Y) Largest decline over 3 years	-25.91%	-26.71%	+0.80%
Max Drawdown (5Y) Largest decline over 5 years	-25.91%	-37.80%	+11.89%
Max Drawdown (10Y) Largest decline over 10 years	-44.82%	-41.48%	-3.34%
Current Drawdown Current decline from peak	-2.32%	-2.75%	+0.43%
Average Drawdown Average peak-to-trough decline	-8.25%	-11.56%	+3.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	3.16%	-0.31%

Volatility

SFSNX vs. ISCG - Volatility Comparison

The current volatility for Schwab Fundamental U.S. Small Company Index Fund (SFSNX) is 3.34%, while iShares Morningstar Small-Cap Growth ETF (ISCG) has a volatility of 4.60%. This indicates that SFSNX experiences smaller price fluctuations and is considered to be less risky than ISCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFSNX	ISCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	4.60%	-1.26%
Volatility (6M) Calculated over the trailing 6-month period	11.87%	13.70%	-1.83%
Volatility (1Y) Calculated over the trailing 1-year period	17.06%	18.61%	-1.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.64%	22.99%	-2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.22%	23.15%	+0.07%

SFSNX vs. ISCG - Expense Ratio Comparison

SFSNX has a 0.25% expense ratio, which is higher than ISCG's 0.06% 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

SFSNX vs. ISCG - Dividend Comparison

SFSNX's dividend yield for the trailing twelve months is around 1.15%, more than ISCG's 0.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ISCG iShares Morningstar Small-Cap Growth ETF	0.58%	0.61%	0.84%	0.77%	0.92%	0.62%	0.10%	0.27%	0.40%	0.52%	1.19%	0.64%
SFSNX Schwab Fundamental U.S. Small Company Index Fund	1.15%	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 SFSNX and ISCG in my portfolio?

SFSNX and ISCG have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SFSNX or ISCG?

ISCG has higher volatility (4.60%) compared to SFSNX (3.34%). In terms of maximum drawdown, SFSNX dropped -58.32% vs ISCG's -57.72%.

Which has better risk-adjusted returns?

SFSNX currently has the higher Sharpe Ratio (1.70 vs 1.53), 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.