UEVM vs. FNDE

Last updated Jun 9, 2026

UEVM (VictoryShares Emerging Markets Value Momentum ETF) and FNDE (Schwab Fundamental Emerging Markets Large Company Index ETF) are both exchange-traded funds - UEVM is a Momentum fund tracking the Nasdaq Victory Emerging Market Value Momentum Index, while FNDE is a Emerging Markets Equities fund tracking the Russell Fundamental Emerging Markets Large Company Index. Both are passively managed. Over the past 5 years, UEVM returned 7.19%/yr vs 8.94%/yr for FNDE. Their correlation of 0.92 suggests significant overlap in exposure. UEVM charges 0.45%/yr vs 0.39%/yr for FNDE.

Performance

UEVM vs. FNDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares Emerging Markets Value Momentum ETF (UEVM) and Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UEVM achieves a 5.73% return, which is significantly lower than FNDE's 11.54% return.

UEVM

• 1D: 0.33%
• 1M: -4.61%
• YTD: 5.73%
• 6M: 5.73%
• 1Y: 19.29%
• 3Y*: 16.44%
• 5Y*: 7.19%
• 10Y*: —

FNDE

• 1D: 0.45%
• 1M: -3.22%
• YTD: 11.54%
• 6M: 12.71%
• 1Y: 30.40%
• 3Y*: 19.28%
• 5Y*: 8.94%
• 10Y*: 10.89%

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

UEVM vs. FNDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UEVM VictoryShares Emerging Markets Value Momentum ETF	5.73%	22.74%	11.92%	17.41%	-14.60%	11.09%	3.77%	10.71%	-16.96%	3.70%
FNDE Schwab Fundamental Emerging Markets Large Company Index ETF	11.54%	29.46%	12.10%	14.99%	-15.58%	14.41%	-2.77%	19.75%	-10.37%	4.26%

Correlation

The correlation between UEVM and FNDE is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017	0.92

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

UEVM vs. FNDE - Sectors Allocation Comparison

Sectors	UEVM	FNDE
Financial Services	17.7%	23.8%
Technology	15.5%	18.7%
Industrials	8.7%	4.7%
Consumer Defensive	5.5%	3.1%
Energy	5.2%	15.5%
Consumer Cyclical	5.0%	9.5%
Basic Materials	4.6%	13.6%
Healthcare	4.4%	0.5%
Utilities	4.1%	2.5%
Real Estate	2.8%	1.5%
Communication Services	2.0%	6.6%

Return for Risk

UEVM vs. FNDE — Risk / Return Rank

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

UEVM

UEVM Risk / Return Rank: 41
UEVM Sharpe Ratio Rank: 39
UEVM Sortino Ratio Rank: 37
UEVM Omega Ratio Rank: 39
UEVM Calmar Ratio Rank: 44
UEVM Martin Ratio Rank: 44

FNDE

FNDE Risk / Return Rank: 66
FNDE Sharpe Ratio Rank: 67
FNDE Sortino Ratio Rank: 63
FNDE Omega Ratio Rank: 68
FNDE Calmar Ratio Rank: 66
FNDE Martin Ratio Rank: 67

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.

UEVM vs. FNDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares Emerging Markets Value Momentum ETF (UEVM) and Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE). 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.

	UEVM	FNDE	Difference
Sharpe ratio: Return per unit of total volatility	1.25	1.98	-0.73
Sortino ratio: Return per unit of downside risk	1.74	2.63	-0.89
Omega ratio: Gain probability vs. loss probability	1.23	1.36	-0.13
Calmar ratio: Return relative to maximum drawdown	1.98	2.99	-1.01
Martin ratio: Return relative to average drawdown	6.60	11.12	-4.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UEVM vs. FNDE - Sharpe Ratio Comparison

The current UEVM Sharpe Ratio is 1.25, which is lower than the FNDE Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of UEVM and FNDE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UEVM	FNDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	1.98	-0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.53	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.36	-0.05

Drawdowns

UEVM vs. FNDE - Drawdown Comparison

The maximum UEVM drawdown since its inception was -45.44%, roughly equal to the maximum FNDE drawdown of -43.55%. Use the drawdown chart below to compare losses from any high point for UEVM and FNDE.

Drawdown Indicators

	UEVM	FNDE	Difference
Max Drawdown Largest peak-to-trough decline	-45.44%	-43.55%	-1.89%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-10.23%	+0.44%
Max Drawdown (3Y) Largest decline over 3 years	-18.88%	-18.40%	-0.48%
Max Drawdown (5Y) Largest decline over 5 years	-26.73%	-29.44%	+2.71%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.93%	—
Current Drawdown Current decline from peak	-5.11%	-5.03%	-0.08%
Average Drawdown Average peak-to-trough decline	-11.66%	-11.70%	+0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	2.74%	+0.19%

Volatility

UEVM vs. FNDE - Volatility Comparison

The current volatility for VictoryShares Emerging Markets Value Momentum ETF (UEVM) is 5.55%, while Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE) has a volatility of 5.93%. This indicates that UEVM experiences smaller price fluctuations and is considered to be less risky than FNDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UEVM	FNDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.55%	5.93%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	12.57%	12.87%	-0.30%
Volatility (1Y) Calculated over the trailing 1-year period	15.53%	15.47%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.96%	16.98%	-1.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.41%	19.32%	-0.91%

UEVM vs. FNDE - Expense Ratio Comparison

UEVM has a 0.45% expense ratio, which is higher than FNDE's 0.39% expense ratio.

Dividends

UEVM vs. FNDE - Dividend Comparison

UEVM's dividend yield for the trailing twelve months is around 3.14%, less than FNDE's 3.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDE Schwab Fundamental Emerging Markets Large Company Index ETF	3.75%	4.19%	4.82%	4.74%	5.59%	4.32%	2.50%	3.47%	2.98%	2.05%	1.65%	2.02%
UEVM VictoryShares Emerging Markets Value Momentum ETF	3.14%	4.02%	5.65%	4.71%	3.46%	4.49%	2.19%	2.79%	2.34%	0.79%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UEVM and FNDE in my portfolio?

With a correlation of 0.92, UEVM and FNDE 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, UEVM or FNDE?

FNDE has higher volatility (5.93%) compared to UEVM (5.55%). In terms of maximum drawdown, UEVM dropped -45.44% vs FNDE's -43.55%.

Which ETF is better, UEVM or FNDE?

On 5-year performance, FNDE leads with 8.94% vs 7.19% for UEVM. On fees, FNDE is cheaper at 0.39% per year. On volatility, UEVM has been the lower-risk option at 5.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UEVM or FNDE?

Over the 5-year period, FNDE has performed better with a 8.94% return vs 7.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UEVM or FNDE?

FNDE is cheaper with a 0.39% expense ratio, compared with 0.45% for UEVM.

Which ETF pays a higher dividend yield, UEVM or FNDE?

FNDE has the higher dividend yield at 3.75%, compared with 3.14% for UEVM.

What is the main difference between UEVM and FNDE?

UEVM is categorized as Momentum, while FNDE is Emerging Markets Equities. UEVM tracks Nasdaq Victory Emerging Market Value Momentum Index, while FNDE tracks Russell Fundamental Emerging Markets Large Company Index. They also come from different issuers: Victory Capital and Charles Schwab. Their fees differ too: 0.45% for UEVM and 0.39% for FNDE.

Which has better risk-adjusted returns?

FNDE currently has the higher Sharpe Ratio (1.98 vs 1.25), 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.