VBR vs. FNDA

Last updated Jun 9, 2026

VBR (Vanguard Small-Cap Value ETF) and FNDA (Schwab Fundamental US Small Co. Index ETF) are both exchange-traded funds - VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index, while FNDA is a Small Cap Blend Equities fund tracking the Russell RAFI Small Company US. Both are passively managed. Over the past 10 years, VBR returned 10.50%/yr vs 10.81%/yr for FNDA. With a 0.98 correlation, they move nearly in lockstep. VBR charges 0.05%/yr vs 0.25%/yr for FNDA.

Performance

VBR vs. FNDA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Value ETF (VBR) and Schwab Fundamental US Small Co. Index ETF (FNDA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VBR achieves a 11.45% return, which is significantly lower than FNDA's 14.40% return. Both investments have delivered pretty close results over the past 10 years, with VBR having a 10.50% annualized return and FNDA not far ahead at 10.81%.

VBR

• 1D: 0.16%
• 1M: 0.48%
• YTD: 11.45%
• 6M: 12.14%
• 1Y: 24.85%
• 3Y*: 15.60%
• 5Y*: 7.78%
• 10Y*: 10.50%

FNDA

• 1D: 0.64%
• 1M: -0.11%
• YTD: 14.40%
• 6M: 14.29%
• 1Y: 29.17%
• 3Y*: 14.87%
• 5Y*: 6.73%
• 10Y*: 10.81%

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

VBR vs. FNDA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBR Vanguard Small-Cap Value ETF	11.45%	9.09%	12.40%	16.00%	-9.38%	28.08%	5.90%	22.78%	-12.28%	11.81%
FNDA Schwab Fundamental US Small Co. Index ETF	14.40%	7.44%	9.00%	20.29%	-14.83%	31.12%	8.44%	24.34%	-12.12%	12.68%

Correlation

The correlation between VBR and FNDA is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Aug 16, 2013	0.98

The correlation between VBR and FNDA has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

VBR vs. FNDA - Sectors Allocation Comparison

Sectors	VBR	FNDA
Industrials	18.1%	18.9%
Financial Services	17.6%	14.6%
Consumer Cyclical	12.4%	12.2%
Technology	10.6%	14.9%
Real Estate	10.1%	9.9%
Healthcare	7.9%	6.8%
Basic Materials	6.3%	5.2%
Energy	5.2%	6.2%
Utilities	4.8%	2.8%
Consumer Defensive	4.0%	4.2%
Communication Services	2.5%	4.1%

Return for Risk

VBR vs. FNDA — Risk / Return Rank

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

VBR

VBR Risk / Return Rank: 57
VBR Sharpe Ratio Rank: 53
VBR Sortino Ratio Rank: 56
VBR Omega Ratio Rank: 51
VBR Calmar Ratio Rank: 62
VBR Martin Ratio Rank: 61

FNDA

FNDA Risk / Return Rank: 59
FNDA Sharpe Ratio Rank: 55
FNDA Sortino Ratio Rank: 58
FNDA Omega Ratio Rank: 52
FNDA Calmar Ratio Rank: 69
FNDA Martin Ratio Rank: 62

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.

VBR vs. FNDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value ETF (VBR) and Schwab Fundamental US Small Co. Index ETF (FNDA). 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.

	VBR	FNDA	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.70	-0.05
Sortino ratio: Return per unit of downside risk	2.43	2.47	-0.03
Omega ratio: Gain probability vs. loss probability	1.29	1.29	-0.01
Calmar ratio: Return relative to maximum drawdown	2.82	3.13	-0.31
Martin ratio: Return relative to average drawdown	9.94	10.09	-0.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VBR vs. FNDA - Sharpe Ratio Comparison

The current VBR Sharpe Ratio is 1.65, which is comparable to the FNDA Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of VBR and FNDA, 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

	VBR	FNDA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	1.70	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.32	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.48	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.49	-0.07

Drawdowns

VBR vs. FNDA - Drawdown Comparison

The maximum VBR drawdown since its inception was -61.98%, which is greater than FNDA's maximum drawdown of -44.64%. Use the drawdown chart below to compare losses from any high point for VBR and FNDA.

Drawdown Indicators

	VBR	FNDA	Difference
Max Drawdown Largest peak-to-trough decline	-61.98%	-44.64%	-17.34%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	-9.36%	+0.51%
Max Drawdown (3Y) Largest decline over 3 years	-24.19%	-25.92%	+1.73%
Max Drawdown (5Y) Largest decline over 5 years	-24.19%	-25.92%	+1.73%
Max Drawdown (10Y) Largest decline over 10 years	-45.28%	-44.64%	-0.64%
Current Drawdown Current decline from peak	-0.95%	-1.42%	+0.47%
Average Drawdown Average peak-to-trough decline	-8.26%	-6.69%	-1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	2.90%	-0.39%

Volatility

VBR vs. FNDA - Volatility Comparison

The current volatility for Vanguard Small-Cap Value ETF (VBR) is 3.67%, while Schwab Fundamental US Small Co. Index ETF (FNDA) has a volatility of 4.61%. This indicates that VBR experiences smaller price fluctuations and is considered to be less risky than FNDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBR	FNDA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	4.61%	-0.94%
Volatility (6M) Calculated over the trailing 6-month period	10.49%	11.98%	-1.49%
Volatility (1Y) Calculated over the trailing 1-year period	15.16%	17.24%	-2.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.77%	20.91%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.74%	22.39%	-0.65%

VBR vs. FNDA - Expense Ratio Comparison

VBR has a 0.05% expense ratio, which is lower than FNDA'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

VBR vs. FNDA - Dividend Comparison

VBR's dividend yield for the trailing twelve months is around 1.76%, more than FNDA's 1.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDA Schwab Fundamental US Small Co. Index ETF	1.09%	1.22%	1.53%	1.37%	1.38%	1.15%	1.31%	1.38%	1.64%	1.30%	1.18%	1.33%
VBR Vanguard Small-Cap Value ETF	1.76%	1.95%	1.98%	2.12%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%

Frequently Asked Questions

Can I hold both VBR and FNDA in my portfolio?

With a correlation of 0.97, VBR and FNDA 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, VBR or FNDA?

FNDA has higher volatility (4.61%) compared to VBR (3.67%). In terms of maximum drawdown, VBR dropped -61.98% vs FNDA's -44.64%.

Which ETF is better, VBR or FNDA?

On 10-year performance, FNDA leads with 10.81% vs 10.50% for VBR. On fees, VBR is cheaper at 0.05% per year. On volatility, VBR has been the lower-risk option at 3.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VBR or FNDA?

Over the 10-year period, FNDA has performed better with a 10.81% return vs 10.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VBR or FNDA?

VBR is cheaper with a 0.05% expense ratio, compared with 0.25% for FNDA.

Which ETF pays a higher dividend yield, VBR or FNDA?

VBR has the higher dividend yield at 1.76%, compared with 1.09% for FNDA.

What is the main difference between VBR and FNDA?

VBR is categorized as Small Cap Value Equities, while FNDA is Small Cap Blend Equities. VBR tracks CRSP US Small Cap Value Index, while FNDA tracks Russell RAFI Small Company US. They also come from different issuers: Vanguard and Charles Schwab. Their fees differ too: 0.05% for VBR and 0.25% for FNDA.

Which has better risk-adjusted returns?

FNDA currently has the higher Sharpe Ratio (1.70 vs 1.65), 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.