FNDX vs SPY
Schwab Fundamental US Large Company ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. FNDX delivered stronger 1-year returns. FNDX offers more diversification with 735 holdings.
Side-by-Side Comparison
| Metric | FNDX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.09% | |
| AUM | $26.6B | $789.1B | |
| Dividend Yield | 1.48% | 1.01% | |
| Holdings | 738 | 505 | |
| YTD Return | +19.04% | +13.39% | |
| 1Y Return | +32.70% | +22.52% | |
| 3Y Return (annualized) | +20.45% | +21.36% | |
| 5Y Return (annualized) | +13.74% | +13.19% | |
| Volatility (annualized) | 14.9% | 15.3% | |
| Max Drawdown | -37.7% | -56.5% | |
| Fund Family | Charles Schwab Asset Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 15, 2013 | Jan 22, 1993 |
FNDX vs SPY Performance
Schwab Fundamental US Large Company ETF (FNDX) is a ETF from Charles Schwab Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FNDX returned +32.70% while SPY returned +22.52%. Year to date, FNDX is up 19.04% versus a gain of 13.39% for SPY.
Over three years, FNDX compounded at +20.45% per year against +21.36% for SPY; over five years the annualized figures are +13.74% and +13.19% respectively. Across the full 13-year window we track, FNDX has the edge at +12.03% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.9% for FNDX. 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 -37.7% for FNDX and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FNDX 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, FNDX currently yields 1.48% against 1.01% for SPY.
Holdings Overlap
FNDX and SPY share 456 holdings out of 782 unique holdings combined, representing a 60.4% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, FNDX or SPY?
FNDX has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, FNDX or SPY?
Over the past year FNDX returned +32.70% vs +22.52% for SPY, so FNDX leads on 1-year performance. Over the longest common window we track (13 years), FNDX annualized +12.03% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, FNDX or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.9% for FNDX. Worst drawdown: FNDX -37.7% vs SPY -56.5%.
Should I hold both FNDX and SPY?
FNDX and SPY have a monthly-return correlation of 0.94, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between FNDX and SPY?
FNDX and SPY share 456 common holdings with a 60.4% weight overlap. Combined, they hold 782 unique securities.
Which pays a higher dividend, FNDX or SPY?
FNDX yields 1.48% while SPY yields 1.01%, so FNDX currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.