USRT vs. FNDX

Last updated Jun 13, 2026

USRT (iShares Core U.S. REIT ETF) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both exchange-traded funds - USRT is a REIT fund tracking the FTSE NAREIT Equity REITs 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, USRT returned 6.67%/yr vs 14.45%/yr for FNDX. A 0.59 correlation means they provide meaningful diversification when combined. USRT charges 0.08%/yr vs 0.25%/yr for FNDX.

Performance

USRT vs. FNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core U.S. REIT ETF (USRT) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USRT achieves a 17.79% return, which is significantly higher than FNDX's 15.49% return. Over the past 10 years, USRT has underperformed FNDX with an annualized return of 6.67%, while FNDX has yielded a comparatively higher 14.45% annualized return.

USRT

• 1D: 0.94%
• 1M: 3.13%
• YTD: 17.79%
• 6M: 17.95%
• 1Y: 19.33%
• 3Y*: 12.69%
• 5Y*: 5.06%
• 10Y*: 6.67%

FNDX

• 1D: 0.90%
• 1M: 2.66%
• YTD: 15.49%
• 6M: 14.86%
• 1Y: 31.57%
• 3Y*: 20.28%
• 5Y*: 13.11%
• 10Y*: 14.45%

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

USRT vs. FNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USRT iShares Core U.S. REIT ETF	17.79%	2.44%	8.58%	13.64%	-24.43%	43.26%	-8.06%	25.98%	-4.67%	5.27%
FNDX Schwab Fundamental U.S. Large Company Index ETF	15.49%	16.94%	16.77%	18.23%	-6.92%	31.73%	9.12%	28.65%	-7.30%	17.12%

Correlation

The correlation between USRT and FNDX is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013	0.60

The correlation between USRT and FNDX shifts across timeframes, from 0.54 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.

USRT vs. FNDX - Sectors Allocation Comparison

Sectors	USRT	FNDX
Real Estate	99.4%	1.8%
Financial Services	0.1%	14.1%
Basic Materials	-	3.7%
Communication Services	-	10.1%
Consumer Cyclical	-	9.2%
Consumer Defensive	-	7.4%
Energy	-	10.3%
Healthcare	-	12.0%
Industrials	-	9.3%
Technology	-	19.1%
Utilities	-	3.2%

Return for Risk

USRT vs. FNDX — Risk / Return Rank

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

USRT

USRT Risk / Return Rank: 48
USRT Sharpe Ratio Rank: 47
USRT Sortino Ratio Rank: 44
USRT Omega Ratio Rank: 44
USRT Calmar Ratio Rank: 55
USRT Martin Ratio Rank: 52

FNDX

FNDX Risk / Return Rank: 93
FNDX Sharpe Ratio Rank: 94
FNDX Sortino Ratio Rank: 93
FNDX Omega Ratio Rank: 92
FNDX Calmar Ratio Rank: 91
FNDX Martin Ratio Rank: 92

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.

USRT vs. FNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core U.S. REIT ETF (USRT) 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.

	USRT	FNDX	Difference
Sharpe ratio: Return per unit of total volatility	1.43	3.03	-1.60
Sortino ratio: Return per unit of downside risk	2.00	4.21	-2.22
Omega ratio: Gain probability vs. loss probability	1.25	1.56	-0.30
Calmar ratio: Return relative to maximum drawdown	2.42	5.23	-2.81
Martin ratio: Return relative to average drawdown	7.79	20.31	-12.52

USRT vs. FNDX - Sharpe Ratio Comparison

The current USRT Sharpe Ratio is 1.43, which is lower than the FNDX Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of USRT and FNDX, 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

USRT vs. FNDX - Drawdown Comparison

The maximum USRT drawdown since its inception was -69.92%, which is greater than FNDX's maximum drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for USRT and FNDX.

Drawdown Indicators

	USRT	FNDX	Difference
Max Drawdown Largest peak-to-trough decline	-69.92%	-37.72%	-32.20%
Max Drawdown (1Y) Largest decline over 1 year	-8.04%	-6.06%	-1.98%
Max Drawdown (3Y) Largest decline over 3 years	-18.70%	-16.30%	-2.40%
Max Drawdown (5Y) Largest decline over 5 years	-31.03%	-19.06%	-11.97%
Max Drawdown (10Y) Largest decline over 10 years	-44.38%	-37.72%	-6.66%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-12.96%	-3.55%	-9.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	1.56%	+0.93%

Volatility

USRT vs. FNDX - Volatility Comparison

iShares Core U.S. REIT ETF (USRT) has a higher volatility of 4.71% compared to Schwab Fundamental U.S. Large Company Index ETF (FNDX) at 3.18%. This indicates that USRT's price experiences larger fluctuations and is considered to be riskier than FNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USRT	FNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.71%	3.18%	+1.53%
Volatility (6M) Calculated over the trailing 6-month period	9.64%	7.58%	+2.06%
Volatility (1Y) Calculated over the trailing 1-year period	13.57%	10.45%	+3.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.92%	15.21%	+3.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.30%	17.51%	+3.79%

USRT vs. FNDX - Expense Ratio Comparison

USRT has a 0.08% 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

USRT vs. FNDX - Dividend Comparison

USRT's dividend yield for the trailing twelve months is around 2.56%, more than FNDX's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.44%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%
USRT iShares Core U.S. REIT ETF	2.56%	3.07%	2.85%	3.18%	3.46%	2.27%	3.12%	3.34%	5.66%	3.44%	3.98%	3.59%

Frequently Asked Questions

Can I hold both USRT and FNDX in my portfolio?

USRT and FNDX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USRT or FNDX?

USRT has higher volatility (4.71%) compared to FNDX (3.18%). In terms of maximum drawdown, USRT dropped -69.92% vs FNDX's -37.72%.

Which ETF is better, USRT or FNDX?

On 10-year performance, FNDX leads with 14.45% vs 6.67% for USRT. On fees, USRT is cheaper at 0.08% per year. On volatility, FNDX has been the lower-risk option at 3.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USRT or FNDX?

Over the 10-year period, FNDX has performed better with a 14.45% return vs 6.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USRT or FNDX?

USRT is cheaper with a 0.08% expense ratio, compared with 0.25% for FNDX.

Which ETF pays a higher dividend yield, USRT or FNDX?

USRT has the higher dividend yield at 2.56%, compared with 1.44% for FNDX.

What is the main difference between USRT and FNDX?

USRT is categorized as REIT, while FNDX is Large Cap Value Equities. USRT tracks FTSE NAREIT Equity REITs 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: 0.08% for USRT and 0.25% for FNDX.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (3.03 vs 1.43), 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.