FNDF vs SPY
Schwab Fundamental International Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FNDF or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. FNDF led over 1Y, 3Y and 5Y, SPY over the full window. FNDF is less concentrated, with 15.0% of the fund in its ten largest positions against 37.8%.
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 | FNDF | SPY |
|---|---|---|
| Expense Ratio | 0.25% | 0.09%Best |
| AUM | $26.2B | $804.7B |
| Dividend Yield | 2.94% | 0.98% |
| Holdings | 906 | 505 |
| YTD Return | +19.92%Best | +12.09% |
| 1Y Return | +31.89%Best | +16.29% |
| 3Y Return (annualized) | +22.65%Best | +21.20% |
| 5Y Return (annualized) | +14.89%Best | +13.37% |
| Volatility (annualized) | 15.6% | 14.5%Best |
| Max Drawdown | -44.0% | -34.1%Best |
| $10,000 over 5 years | $20,018Best | $18,728 |
| Top 10 Weight | 15.0%Best | 37.8% |
| Fund Family | Charles Schwab Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Aug 15, 2013 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Aug 15, 2013 to Sep 18, 2026 (13.1 years).
FNDF vs SPY 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 13.1 years both funds cover.
FNDF vs SPY Performance
Schwab Fundamental International Equity ETF (FNDF) is an ETF from Charles Schwab Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FNDF returned +31.89% while SPY returned +16.29%. Year to date, FNDF is up 19.92% versus a gain of 12.09% for SPY.
Over three years, FNDF compounded at +22.65% per year against +21.20% for SPY; over five years the annualized figures are +14.89% and +13.37% respectively. Across the full 13-year window we track, SPY has the edge at +12.96% annualized vs +7.60%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FNDF has been the more volatile fund, with annualized monthly volatility of 15.6% compared with 14.5% for SPY. 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 -44.0% for FNDF and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FNDF charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, FNDF currently yields 2.94% against 0.98% for SPY.
Holdings Overlap
1.4% of FNDF's money is in holdings SPY also owns. 0.6% of SPY's money is in holdings FNDF also owns.
FNDF and SPY share little of their money.
9 positions in common, counted across the 868 positions we hold weights for in FNDF and 504 in SPY, against full books of 906 and 505.
What only one of them owns
Our book lists 488 positions for SPY that do not appear in our book for FNDF (98.7% of the fund), and 10 for FNDF that do not appear in SPY (1.4%).
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 FNDF | Weight in SPY | Difference |
|---|---|---|---|
| ROPRoper Technologies Inc. | 0.89% | 0.06% | 0.83% |
| MDTMedtronic Plc Ordinary Shares | 0.17% | 0.18% | 0.01% |
| NXPINxp Semiconductors Nv Sedol B505Pn7 | 0.10% | 0.09% | 0.01% |
| TTTt Trane Technologies Plc | 0.04% | 0.15% | 0.11% |
| GRMNGarminltd. | 0.07% | 0.07% | 0.00% |
| SWSmurfit WestRock plc Common Shares | 0.05% | 0.04% | 0.01% |
| ALLEAllegion Plc | 0.02% | 0.02% | 0.00% |
| LULULululemon Athletica, Inc | 0.02% | 0.02% | 0.00% |
| APTVAptiv Plc Ordinary Shares | 0.03% | 0.01% | 0.02% |
You are not choosing between two funds in isolation.
Whichever of FNDF and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FNDF or SPY?
FNDF has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option, by $16 a year on a $10,000 investment.
Which performed better, FNDF or SPY?
Over the past year FNDF returned +31.89% vs +16.29% for SPY, so FNDF leads on 1-year performance. Over the longest common window we track (13 years), FNDF annualized +7.60% vs +12.96% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FNDF or SPY?
FNDF has been the more volatile fund at 15.6% annualized versus 14.5% for SPY. Worst drawdown: FNDF -44.0% vs SPY -34.1%.
Should I hold both FNDF and SPY?
FNDF and SPY have a monthly-return correlation of 0.78, 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 FNDF and SPY?
1.4% of FNDF's money is in holdings SPY also owns. 0.6% of SPY's is in holdings FNDF also owns. They hold 9 positions in common, counted across the 868 positions we hold weights for in FNDF and 504 in SPY.
Which pays a higher dividend, FNDF or SPY?
FNDF yields 2.94% while SPY yields 0.98%, so FNDF currently pays the higher dividend yield.
Is SPY better than FNDF?
SPY has a lower expense ratio. FNDF led over 1Y, 3Y and 5Y, SPY over the full window. FNDF is less concentrated, with 15.0% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.