SHV vs. FNDX
SHV (iShares 0-1 Year Treasury Bond ETF) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both exchange-traded funds - SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index, while FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index. Both are passively managed. Over the past 10 years, SHV returned 2.23%/yr vs 14.32%/yr for FNDX. At a correlation of -0.03, they often move in opposite directions. SHV charges 0.15%/yr vs 0.25%/yr for FNDX.
Performance
SHV vs. FNDX - Performance Comparison
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Returns By Period
In the year-to-date period, SHV achieves a 1.51% return, which is significantly lower than FNDX's 14.46% return. Over the past 10 years, SHV has underperformed FNDX with an annualized return of 2.23%, while FNDX has yielded a comparatively higher 14.32% annualized return.
SHV
- 1D
- 0.02%
- 1M
- 0.28%
- YTD
- 1.51%
- 6M
- 1.73%
- 1Y
- 3.89%
- 3Y*
- 4.63%
- 5Y*
- 3.34%
- 10Y*
- 2.23%
FNDX
- 1D
- 1.47%
- 1M
- 1.97%
- YTD
- 14.46%
- 6M
- 13.13%
- 1Y
- 30.72%
- 3Y*
- 20.21%
- 5Y*
- 12.91%
- 10Y*
- 14.32%
SHV vs. FNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHV iShares 0-1 Year Treasury Bond ETF | 1.51% | 4.21% | 5.12% | 5.04% | 0.94% | -0.10% | 0.81% | 2.36% | 1.72% | 0.67% |
FNDX Schwab Fundamental U.S. Large Company Index ETF | 14.46% | 16.94% | 16.77% | 18.23% | -6.92% | 31.73% | 9.12% | 28.65% | -7.30% | 17.12% |
Correlation
The correlation between SHV and FNDX is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013 | -0.03 |
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Return for Risk
SHV vs. FNDX — Risk / Return Rank
SHV
FNDX
SHV vs. FNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-1 Year Treasury Bond ETF (SHV) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). 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.
| SHV | FNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +16.52 | ||
| Sortino ratioReturn per unit of downside risk | +145.07 | ||
| Omega ratioGain probability vs. loss probability | 53.64 | 1.54 | +52.10 |
| Calmar ratioReturn relative to maximum drawdown | 430.34 | 5.09 | +425.25 |
| Martin ratioReturn relative to average drawdown | 2,413.95 | 19.73 | +2,394.22 |
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Drawdowns
SHV vs. FNDX - Drawdown Comparison
The maximum SHV drawdown since its inception was -0.45%, smaller than the maximum FNDX drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for SHV and FNDX.
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Drawdown Indicators
| SHV | FNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.45% | -37.72% | +37.27% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -6.06% | +6.05% |
Max Drawdown (3Y)Largest decline over 3 years | -0.03% | -16.30% | +16.27% |
Max Drawdown (5Y)Largest decline over 5 years | -0.39% | -19.06% | +18.67% |
Max Drawdown (10Y)Largest decline over 10 years | -0.45% | -37.72% | +37.27% |
Current DrawdownCurrent decline from peak | 0.00% | -0.77% | +0.77% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -3.55% | +3.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 1.56% | -1.56% |
Volatility
SHV vs. FNDX - Volatility Comparison
The current volatility for iShares 0-1 Year Treasury Bond ETF (SHV) is 0.04%, while Schwab Fundamental U.S. Large Company Index ETF (FNDX) has a volatility of 3.07%. This indicates that SHV experiences smaller price fluctuations and is considered to be less risky than FNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHV | FNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.04% | 3.07% | -3.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.12% | 7.63% | -7.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 10.42% | -10.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.29% | 15.22% | -14.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.28% | 17.51% | -17.23% |
SHV vs. FNDX - Expense Ratio Comparison
SHV has a 0.15% expense ratio, which is lower than FNDX's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SHV vs. FNDX - Dividend Comparison
SHV's dividend yield for the trailing twelve months is around 3.83%, more than FNDX's 1.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNDX Schwab Fundamental U.S. Large Company Index ETF | 1.45% | 1.63% | 1.76% | 1.82% | 2.07% | 1.64% | 2.29% | 2.23% | 2.40% | 1.86% | 2.01% | 2.01% |
SHV iShares 0-1 Year Treasury Bond ETF | 3.83% | 4.09% | 5.02% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% |
Frequently Asked Questions
SHV and FNDX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNDX has higher volatility (3.07%) compared to SHV (0.04%). In terms of maximum drawdown, SHV dropped -0.45% vs FNDX's -37.72%.
On 10-year performance, FNDX leads with 14.32% vs 2.23% for SHV. On fees, SHV is cheaper at 0.15% per year. On volatility, SHV has been the lower-risk option at 0.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FNDX has performed better with a 14.32% return vs 2.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHV is cheaper with a 0.15% expense ratio, compared with 0.25% for FNDX.
SHV has the higher dividend yield at 3.83%, compared with 1.45% for FNDX.
SHV is categorized as Government Bonds, while FNDX is Large Cap Value Equities. SHV tracks ICE Short US Treasury Securities Index, while FNDX tracks RAFI Fundamental High Liquidity US Large Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.15% for SHV and 0.25% for FNDX.
SHV currently has the higher Sharpe Ratio (19.48 vs 2.96), 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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