FNCMX vs SCHD
Fidelity NASDAQ Composite Index vs Schwab US Dividend Equity ETF
Which is better, FNCMX or SCHD?
Large Cap Growth against Large Cap Value.
SCHD has a lower expense ratio. FNCMX led over 3Y, 5Y and the full window, SCHD over 1Y. SCHD is less concentrated, with 41.8% of the fund in its ten largest positions against 56.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FNCMX | SCHD |
|---|---|---|
| Expense Ratio | 0.29% | 0.06%Best |
| AUM | - | $112.1B |
| Dividend Yield | 0.45% | 3.00% |
| Holdings | 2,946 | 103 |
| YTD Price Return | +14.59% | +21.60%Best |
| 1Y Price Return | +18.06% | +23.74%Best |
| 3Y Price Return (annualized) | +24.83%Best | +12.38% |
| 5Y Price Return (annualized) | +12.50%Best | +6.39% |
| Volatility (annualized) | 19.9% | 15.3%Best |
| Max Drawdown | -36.8% | -18.9%Best |
| $10,000 over 5 years | $18,020Best | $13,630 |
| Top 10 Weight | 56.4% | 41.8%Best |
| Fund Family | Fidelity Investments (US) | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Value |
| Inception | Sep 25, 2003 | Oct 20, 2011 |
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for FNCMX. Both funds are measured the same way, so the comparison holds. FNCMX yields 0.45% and SCHD 3.00% on top.
Volatility and max drawdown are measured over the window both funds cover: Sep 22, 2021 to Sep 18, 2026 (5 years).
FNCMX vs SCHD growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 5 years both funds cover. Prices exclude distributions, on both funds alike.
FNCMX vs SCHD Performance
Fidelity NASDAQ Composite Index (FNCMX) is a mutual fund from Fidelity Investments (US) and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year FNCMX returned +18.06% while SCHD returned +23.74%. Year to date, FNCMX is up 14.59% versus a gain of 21.60% for SCHD.
Over three years, FNCMX compounded at +24.83% per year against +12.38% for SCHD; over five years the annualized figures are +12.50% and +6.39% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FNCMX has been the more volatile fund, with annualized monthly volatility of 19.9% compared with 15.3% for SCHD. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -36.8% for FNCMX and -18.9% for SCHD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.47. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FNCMX charges 0.29% per year while SCHD charges 0.06%. On a $10,000 position that is $29 vs $6 annually, a gap of $23 per year that compounds over a long holding period. On income, FNCMX currently yields 0.45% against 3.00% for SCHD.
Structure and taxes
FNCMX is a mutual fund and SCHD is an ETF. A mutual fund prices once a day at net asset value and may carry a purchase minimum. An ETF trades through the day at whatever the market pays for it.
In a taxable account the difference that usually matters is distributions. An ETF can meet redemptions in kind, so it rarely has to sell holdings and rarely passes a capital gain to the people who held it; a mutual fund that sells holdings to meet redemptions can distribute a realised gain at year end to everyone still in the fund, whether or not they sold anything themselves. In a tax-deferred account that difference largely disappears. Both are descriptions of how the two wrappers work, not a recommendation.
Tax-loss harvesting works on either wrapper.
Holdings Overlap
3.3% of FNCMX's money is in holdings SCHD also owns. 27.6% of SCHD's money is in holdings FNCMX also owns.
SCHD and FNCMX share little of their money.
The two holdings books were reported 184 days apart, FNCMX as of Feb 28, 2026 and SCHD as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
37 positions in common, counted across the 2,830 positions we hold weights for in FNCMX and 100 in SCHD, against full books of 2,946 and 103.
What only one of them owns
Our book lists 62 positions for SCHD that do not appear in our book for FNCMX (72.3% of the fund), and 640 for FNCMX that do not appear in SCHD (90.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in FNCMX | Weight in SCHD | Difference |
|---|---|---|---|
| AMGNAmgen Inc. | 0.54% | 4.70% | 4.16% |
| PEPPepsico Inc. | 0.60% | 3.64% | 3.04% |
| TXNTexas Instrument Inc | 0.50% | 3.13% | 2.63% |
| ADPAutomatic Data Processing, Inc. | 0.22% | 2.79% | 2.57% |
| QCOMQualcomm Inc. | 0.39% | 2.52% | 2.13% |
| CMCSAComcast Corp-class A Cmcsa | 0.29% | 2.31% | 2.02% |
| FASTFastenal Co. | 0.14% | 1.38% | 1.24% |
| FITBFifth Third Bancorp | 0.08% | 1.19% | 1.11% |
| PAYXPaychex, Inc. | 0.09% | 1.00% | 0.91% |
| KMBKimberly-Clark Corp. | 0.10% | 0.87% | 0.77% |
27.6% of SCHD is already inside FNCMX.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FNCMX or SCHD?
FNCMX has an expense ratio of 0.29% while SCHD charges 0.06%. SCHD is the cheaper option, by $23 a year on a $10,000 investment.
Which performed better, FNCMX or SCHD?
Over the past year FNCMX returned +18.06% vs +23.74% for SCHD, so SCHD leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FNCMX or SCHD?
FNCMX has been the more volatile fund at 19.9% annualized versus 15.3% for SCHD. Worst drawdown: FNCMX -36.8% vs SCHD -18.9%.
Should I hold both FNCMX and SCHD?
FNCMX and SCHD have a monthly-return correlation of 0.47, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FNCMX and SCHD?
27.6% of SCHD's money is in holdings FNCMX also owns. 27.6% of SCHD's is in holdings FNCMX also owns. They hold 37 positions in common, counted across the 2,830 positions we hold weights for in FNCMX and 100 in SCHD.
Which pays a higher dividend, FNCMX or SCHD?
FNCMX yields 0.45% while SCHD yields 3.00%, so SCHD currently pays the higher dividend yield.
Is it better to hold FNCMX or SCHD in a taxable account?
SCHD is an ETF and FNCMX is a mutual fund. An ETF can meet redemptions in kind, so it rarely distributes a capital gain to the people holding it. A mutual fund that sells holdings to meet redemptions can pass a realised gain to every holder at year end. In a tax-deferred account that difference largely disappears. This is information, not a recommendation.
Is SCHD better than FNCMX?
SCHD has a lower expense ratio. FNCMX led over 3Y, 5Y and the full window, SCHD over 1Y. SCHD is less concentrated, with 41.8% of the fund in its ten largest positions against 56.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.