VIOO vs. FNDA

Last updated Jun 3, 2026

VIOO (Vanguard S&P Small-Cap 600 ETF) and FNDA (Schwab Fundamental US Small Co. Index ETF) are both Small Cap Blend Equities funds - VIOO tracks the S&P SmallCap 600 Index while FNDA tracks the Russell RAFI Small Company US. Both are passively managed. Over the past 10 years, VIOO returned 10.77%/yr vs 10.99%/yr for FNDA. With a 0.98 correlation, they move nearly in lockstep. VIOO charges 0.10%/yr vs 0.25%/yr for FNDA.

Performance

VIOO vs. FNDA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Small-Cap 600 ETF (VIOO) and Schwab Fundamental US Small Co. Index ETF (FNDA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VIOO having a 16.37% return and FNDA slightly lower at 16.05%. Both investments have delivered pretty close results over the past 10 years, with VIOO having a 10.77% annualized return and FNDA not far ahead at 10.99%.

VIOO

• 1D: 0.91%
• 1M: 1.63%
• YTD: 16.37%
• 6M: 16.85%
• 1Y: 34.98%
• 3Y*: 14.74%
• 5Y*: 5.91%
• 10Y*: 10.77%

FNDA

• 1D: 1.05%
• 1M: 2.18%
• YTD: 16.05%
• 6M: 16.76%
• 1Y: 34.12%
• 3Y*: 16.17%
• 5Y*: 7.29%
• 10Y*: 10.99%

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

VIOO vs. FNDA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIOO Vanguard S&P Small-Cap 600 ETF	16.37%	6.04%	8.48%	16.16%	-16.26%	26.79%	11.47%	22.68%	-8.65%	13.16%
FNDA Schwab Fundamental US Small Co. Index ETF	16.05%	7.44%	9.00%	20.29%	-14.83%	31.12%	8.44%	24.34%	-12.12%	12.68%

Correlation

The correlation between VIOO and FNDA is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Aug 16, 2013	0.98

The correlation between VIOO and FNDA has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

VIOO vs. FNDA - Sectors Allocation Comparison

Sectors	VIOO	FNDA
Financial Services	16.9%	14.6%
Industrials	15.5%	18.9%
Technology	15.5%	14.9%
Consumer Cyclical	13.4%	12.2%
Healthcare	11.0%	6.8%
Real Estate	7.7%	9.9%
Energy	5.9%	6.2%
Basic Materials	5.1%	5.2%
Communication Services	3.6%	4.1%
Consumer Defensive	3.5%	4.2%
Utilities	2.0%	2.8%

Return for Risk

VIOO vs. FNDA — Risk / Return Rank

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

VIOO

VIOO Risk / Return Rank: 64
VIOO Sharpe Ratio Rank: 58
VIOO Sortino Ratio Rank: 61
VIOO Omega Ratio Rank: 55
VIOO Calmar Ratio Rank: 76
VIOO Martin Ratio Rank: 70

FNDA

FNDA Risk / Return Rank: 62
FNDA Sharpe Ratio Rank: 59
FNDA Sortino Ratio Rank: 61
FNDA Omega Ratio Rank: 55
FNDA Calmar Ratio Rank: 71
FNDA Martin Ratio Rank: 64

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.

VIOO vs. FNDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 ETF (VIOO) 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.

	VIOO	FNDA	Difference
Sharpe ratio Return per unit of total volatility	2.00	2.01	0.00
Sortino ratio Return per unit of downside risk	2.88	2.87	+0.01
Omega ratio Gain probability vs. loss probability	1.34	1.35	0.00
Calmar ratio Return relative to maximum drawdown	3.93	3.62	+0.31
Martin ratio Return relative to average drawdown	13.17	11.72	+1.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIOO vs. FNDA - Sharpe Ratio Comparison

The current VIOO Sharpe Ratio is 2.00, which is comparable to the FNDA Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of VIOO 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

	VIOO	FNDA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	2.01	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.35	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.49	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.49	+0.08

Drawdowns

VIOO vs. FNDA - Drawdown Comparison

The maximum VIOO drawdown since its inception was -44.15%, roughly equal to the maximum FNDA drawdown of -44.64%. Use the drawdown chart below to compare losses from any high point for VIOO and FNDA.

Drawdown Indicators

	VIOO	FNDA	Difference
Max Drawdown Largest peak-to-trough decline	-44.15%	-44.64%	+0.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.77%	-9.36%	+0.59%
Max Drawdown (3Y) Largest decline over 3 years	-27.93%	-25.92%	-2.01%
Max Drawdown (5Y) Largest decline over 5 years	-27.93%	-25.92%	-2.01%
Max Drawdown (10Y) Largest decline over 10 years	-44.15%	-44.64%	+0.49%
Current Drawdown Current decline from peak	-0.01%	0.00%	-0.01%
Average Drawdown Average peak-to-trough decline	-7.34%	-6.69%	-0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	2.89%	-0.27%

Volatility

VIOO vs. FNDA - Volatility Comparison

Vanguard S&P Small-Cap 600 ETF (VIOO) and Schwab Fundamental US Small Co. Index ETF (FNDA) have volatilities of 4.40% and 4.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIOO	FNDA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	4.41%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	11.69%	11.74%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	17.57%	17.10%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.40%	20.89%	+0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.99%	22.38%	+0.61%

VIOO vs. FNDA - Expense Ratio Comparison

VIOO has a 0.10% 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

VIOO vs. FNDA - Dividend Comparison

VIOO's dividend yield for the trailing twelve months is around 1.17%, more than FNDA's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDA Schwab Fundamental US Small Co. Index ETF	1.08%	1.22%	1.53%	1.37%	1.38%	1.15%	1.31%	1.38%	1.64%	1.30%	1.18%	1.33%
VIOO Vanguard S&P Small-Cap 600 ETF	1.17%	1.36%	1.48%	1.47%	1.51%	1.16%	1.09%	1.37%	1.32%	1.11%	1.06%	1.26%

Frequently Asked Questions

Can I hold both VIOO and FNDA in my portfolio?

With a correlation of 0.98, VIOO 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, VIOO or FNDA?

FNDA has higher volatility (4.41%) compared to VIOO (4.40%). In terms of maximum drawdown, VIOO dropped -44.15% vs FNDA's -44.64%.

Which ETF is better, VIOO or FNDA?

On 10-year performance, FNDA leads with 10.99% vs 10.77% for VIOO. On fees, VIOO is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VIOO or FNDA?

Over the 10-year period, FNDA has performed better with a 10.99% return vs 10.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VIOO or FNDA?

VIOO is cheaper with a 0.10% expense ratio, compared with 0.25% for FNDA.

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

VIOO has the higher dividend yield at 1.17%, compared with 1.08% for FNDA.

What is the main difference between VIOO and FNDA?

VIOO tracks S&P SmallCap 600 Index, while FNDA tracks Russell RAFI Small Company US. They also come from different issuers: Vanguard and Charles Schwab. Their fees differ too: 0.10% for VIOO and 0.25% for FNDA.

Which has better risk-adjusted returns?

FNDA currently has the higher Sharpe Ratio (2.01 vs 2.00), 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.