VIU.TO vs. FNDF

Last updated Jun 4, 2026

VIU.TO (Vanguard FTSE Developed All Cap ex North America Index ETF) and FNDF (Schwab Fundamental International Equity ETF) are both exchange-traded funds - VIU.TO is a International Equity fund tracking the FTSE Developed All Cap ex North America Index, while FNDF is a Foreign Large Cap Equities fund tracking the RAFI Fundamental High Liquidity Developed ex US Large Index (Net). Both are passively managed. Over the past 10 years, VIU.TO returned 10.41%/yr vs 12.74%/yr for FNDF. Their correlation of 0.87 suggests significant overlap in exposure. VIU.TO charges 0.23%/yr vs 0.25%/yr for FNDF.

Performance

VIU.TO vs. FNDF - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) and Schwab Fundamental International Equity ETF (FNDF). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VIU.TO is traded in CAD, while FNDF is traded in USD. To make them comparable, the FNDF values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VIU.TO achieves a 16.73% return, which is significantly lower than FNDF's 22.76% return. Over the past 10 years, VIU.TO has underperformed FNDF with an annualized return of 10.41%, while FNDF has yielded a comparatively higher 12.74% annualized return.

VIU.TO

• 1D: -0.44%
• 1M: 7.93%
• YTD: 16.73%
• 6M: 17.50%
• 1Y: 33.05%
• 3Y*: 20.38%
• 5Y*: 11.99%
• 10Y*: 10.41%

FNDF

• 1D: -0.26%
• 1M: 9.10%
• YTD: 22.76%
• 6M: 24.24%
• 1Y: 46.58%
• 3Y*: 25.54%
• 5Y*: 16.59%
• 10Y*: 12.74%

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

VIU.TO vs. FNDF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIU.TO Vanguard FTSE Developed All Cap ex North America Index ETF	16.73%	27.83%	10.72%	15.66%	-10.63%	9.74%	7.56%	15.30%	-7.39%	19.22%
FNDF Schwab Fundamental International Equity ETF	22.76%	34.53%	11.08%	17.57%	-1.21%	13.93%	1.86%	12.64%	-6.94%	16.09%

Correlation

The correlation between VIU.TO and FNDF is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Dec 9, 2015	0.87

The correlation between VIU.TO and FNDF has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

VIU.TO vs. FNDF - Sectors Allocation Comparison

Sectors	VIU.TO	FNDF
Financial Services	25.6%	16.7%
Technology	18.4%	11.1%
Industrials	17.1%	15.9%
Healthcare	10.7%	5.5%
Consumer Defensive	6.1%	6.9%
Consumer Cyclical	6.0%	10.7%
Basic Materials	4.7%	11.3%
Energy	4.1%	12.3%
Communication Services	3.1%	4.9%
Utilities	2.9%	3.8%
Real Estate	0.6%	0.9%

Return for Risk

VIU.TO vs. FNDF — Risk / Return Rank

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

VIU.TO

VIU.TO Risk / Return Rank: 62
VIU.TO Sharpe Ratio Rank: 63
VIU.TO Sortino Ratio Rank: 63
VIU.TO Omega Ratio Rank: 66
VIU.TO Calmar Ratio Rank: 56
VIU.TO Martin Ratio Rank: 62

FNDF

FNDF Risk / Return Rank: 84
FNDF Sharpe Ratio Rank: 88
FNDF Sortino Ratio Rank: 85
FNDF Omega Ratio Rank: 85
FNDF Calmar Ratio Rank: 80
FNDF Martin Ratio Rank: 80

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.

VIU.TO vs. FNDF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) and Schwab Fundamental International Equity ETF (FNDF). 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.

	VIU.TO	FNDF	Difference
Sharpe ratio: Return per unit of total volatility	2.17	3.34	-1.17
Sortino ratio: Return per unit of downside risk	3.01	4.34	-1.33
Omega ratio: Gain probability vs. loss probability	1.41	1.62	-0.21
Calmar ratio: Return relative to maximum drawdown	2.83	4.60	-1.77
Martin ratio: Return relative to average drawdown	11.39	18.69	-7.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIU.TO vs. FNDF - Sharpe Ratio Comparison

The current VIU.TO Sharpe Ratio is 2.17, which is lower than the FNDF Sharpe Ratio of 3.34. The chart below compares the historical Sharpe Ratios of VIU.TO and FNDF, 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

	VIU.TO	FNDF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	3.34	-1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	1.27	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.86	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.81	-0.19

Drawdowns

VIU.TO vs. FNDF - Drawdown Comparison

The maximum VIU.TO drawdown since its inception was -29.15%, smaller than the maximum FNDF drawdown of -31.67%. Use the drawdown chart below to compare losses from any high point for VIU.TO and FNDF.

Drawdown Indicators

	VIU.TO	FNDF	Difference
Max Drawdown Largest peak-to-trough decline	-29.15%	-31.67%	+2.52%
Max Drawdown (1Y) Largest decline over 1 year	-11.74%	-10.18%	-1.56%
Max Drawdown (3Y) Largest decline over 3 years	-14.26%	-14.25%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-25.35%	-19.36%	-5.99%
Max Drawdown (10Y) Largest decline over 10 years	-29.15%	-31.67%	+2.52%
Current Drawdown Current decline from peak	-0.44%	-0.26%	-0.18%
Average Drawdown Average peak-to-trough decline	-5.34%	-4.35%	-0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	2.50%	+0.41%

Volatility

VIU.TO vs. FNDF - Volatility Comparison

Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) has a higher volatility of 5.83% compared to Schwab Fundamental International Equity ETF (FNDF) at 5.07%. This indicates that VIU.TO's price experiences larger fluctuations and is considered to be riskier than FNDF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIU.TO	FNDF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	5.07%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	13.08%	11.86%	+1.22%
Volatility (1Y) Calculated over the trailing 1-year period	15.31%	14.04%	+1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.90%	13.12%	+0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.12%	14.85%	+0.27%

VIU.TO vs. FNDF - Expense Ratio Comparison

VIU.TO has a 0.23% expense ratio, which is lower than FNDF'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

VIU.TO vs. FNDF - Dividend Comparison

VIU.TO's dividend yield for the trailing twelve months is around 2.16%, less than FNDF's 2.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDF Schwab Fundamental International Equity ETF	2.84%	3.44%	4.01%	3.41%	3.10%	3.54%	2.17%	3.20%	3.47%	2.32%	2.42%	2.08%
VIU.TO Vanguard FTSE Developed All Cap ex North America Index ETF	2.16%	2.48%	2.55%	2.65%	2.75%	2.37%	1.97%	2.67%	2.75%	2.12%	1.71%	0.27%

Frequently Asked Questions

Can I hold both VIU.TO and FNDF in my portfolio?

VIU.TO and FNDF have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VIU.TO or FNDF?

On fees, VIU.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VIU.TO or FNDF?

VIU.TO is cheaper with a 0.23% expense ratio, compared with 0.25% for FNDF.

What is the main difference between VIU.TO and FNDF?

VIU.TO is categorized as International Equity, while FNDF is Foreign Large Cap Equities. VIU.TO tracks FTSE Developed All Cap ex North America Index, while FNDF tracks RAFI Fundamental High Liquidity Developed ex US Large Index (Net). They also come from different issuers: Vanguard and Charles Schwab. Their fees differ too: 0.23% for VIU.TO and 0.25% for FNDF.