BLES vs FNDE: Grades, Fees and Holdings Compared

Inspire Global Hope ETF

BLESCNYSE Arca

Schwab Fundamental Emerging Markets Large Company Index ETF

FNDEBNYSE Arca

Overlap

3.1%by weight

Expense ratio

FNDE −0.21pt a year

BLES0.60%FNDE0.39%

Avg volume · 30D

FNDE 145.6×the volume

BLES10.5KFNDE1.53M

5Y return · a year

FNDE +2.3pt

BLES+7.3%FNDE+9.6%

BLES vs FNDE Performance

Oct 29, 2021 – Oct 30, 2026

+42.4%BLES+58.4%FNDE

Expense ratio: BLES 0.60%; FNDE 0.39%, better
Fund size: BLES $167M; FNDE $9.97B
1Y total return: BLES +14.9%, better; FNDE +14.4%
Yield (12M): BLES 1.86%; FNDE 3.66%, better
Holdings: BLES 416; FNDE 370
Avg volume (30D): BLES 10.5K sh; FNDE 1.53M sh, better
NAV per share: BLES $48.38; FNDE $40.60
52W range

ETF.net Grade

Pillar letters and Scores for BLES, FNDE, with each pillar’s weight
Pillar	BLES	FNDE
Cost30% weight	D33	B62Higher
Mission25% weight	B65	A96Higher
Risk15% weight	A79Higher	B61
Tradability15% weight	D38	A74Higher
Holdings10% weight	A88Higher	C54
Durability5% weight	D38	A79Higher

Rank among Emerging Markets Factor Index funds

How we build Categories ›

Same Category. BLES and FNDE are both graded against the same 10 Emerging Markets Factor Index funds, so their Grades compare head to head.

Emerging Markets Factor Index⁠

Category · 10 funds

See all 10 ›

FNDE ranks 3rd and BLES 5th of 10 funds in the Emerging Markets Factor Index Category.

Rank 1AEEMViShares MSCI Emerging Markets Min Vol Factor ETFScore 78
Rank 2BEELVInvesco S&P Emerging Markets Low Volatility ETFScore 66
Rank 3BFNDESchwab Fundamental Emerging Markets Large Company Index ETFScore 64
Rank 4BPXHInvesco RAFI Emerging Markets ETFScore 57
Rank 5CBLESInspire Global Hope ETFScore 50
Rank 6CEEMOInvesco S&P Emerging Markets Momentum ETFScore 45

Our read on each fund

ETF.net Research

BLESCInspire Global Hope ETF

FNDEBSchwab Fundamental Emerging Markets Large Company Index ETF

In short

BLES One of the two funds that launched Inspire's lineup in 2017: roughly 400 large caps from the US, developed markets and emerging markets, screened against biblical values and held in equal slices.

FNDE Most emerging-markets funds size a position by its market price. FNDE sizes it by the business behind it, weighting large EM companies on fundamental measures instead of market cap. Schwab has run this value-leaning version since 2013.

Stated mandate

BLES The Fund seeks to track, before fees and expenses, the performance of the Inspire Global Hope Large Cap Equal Weight Index.

FNDE The fund seeks to track, before fees and expenses, an index of large companies in emerging-market countries selected and weighted according to fundamental size measures.

Why people hold it

BLES Global core in one ticker, with a target mix of 50% US, 40% developed international and 10% emerging markets, equal weighted and rebalanced quarterly.prnewswire.com inspireetf.com
The faith screen is the whole point: holdings need an Inspire Impact Score of zero or better, so whole industries are excluded by rule, not by a manager's mood.inspireetf.com
Equal weighting tilts the portfolio smaller and flatter than a cap-weighted global index, and the quarterly reset trims what has run up.inspireetf.com
Inspire says it gives at least half of its net corporate profits from management fees to ministry projects through its Give50 program.inspireetf.com

FNDE Weights by fundamental size, not market cap, so a company's slot reflects its business footprint rather than what the market is currently paying for it. The value tilt is advertised, not accidental.schwabassetmanagement.com
At 0.39%, the fee sits under the 0.49% typical for emerging-markets ETFs. Rules-based weighting at an index-fund price.
A multi-billion-dollar fund that trades actively, and it has hugged its RAFI index closely. Two things that often go missing in EM, where thin books and tracking slippage are common.
Live since 2013, with a full market cycle of history behind the method. Among the strongest implementations in a crowded emerging-markets field.

Worth knowing

BLES Costs more than the median fund in its peer group, the price of a niche screen and a worldwide portfolio.
Trades lightly next to category heavyweights like EEMV and EELV, so the bid-ask spread is worth a look before placing an order.
Emerging markets are only about a tenth of the target mix, so it sits among EM specialists without being a dedicated EM play.prnewswire.com

FNDE Plain cap-weighted EM exposure costs less: VEXC at 0.07%, BKEM at 0.11%, XCEM at 0.16%. You are paying for the fundamental weighting.
Large companies only, about 400 of them, screened for liquidity. Narrower than total-market EM funds that reach into small caps.
A value tilt means results will separate from cap-weighted EM benchmarks in both directions. Distributions land once or twice a year, not monthly.

Full BLES profile⁠

Full FNDE profile⁠

BLES vs FNDE Holdings

How BLES and FNDE differ

Overlap by weight

3.1%

Shared holdings make up 4.3% of BLES and 4.1% of FNDE.

Level by level

Holdings18 in both3.1%
Countryby domicile7.6%
Sector11 Sectors66.4%
Asset classEquity100%

Sector

Sector weights in BLES and FNDE, widest gap first
Sector	More in BLESMore in FNDE	BLES	FNDE
Industrials	BLES +14.2 points	19.1%	4.9%
Financials	FNDE +12.9 points	13.4%	26.4%
Health Care	BLES +7.4 points	7.8%	0.4%
Energy	FNDE +7.0 points	7.7%	14.7%
Utilities	BLES +5.3 points	7.5%	2.2%
Real Estate	BLES +5.2 points	6.6%	1.4%
Communication	FNDE +5.1 points	1.0%	6.1%
Technology	FNDE +4.3 points	15.5%	19.8%
Consumer Discretionary	FNDE +3.1 points	6.3%	9.4%
Consumer Staples	BLES +1.5 points	4.6%	3.1%
Materials	FNDE +1.0 points	10.5%	11.5%

Country, concentration and asset class

Country by domicile

Country weights in BLES and FNDE, widest gap first
Country	More in BLESMore in FNDE	BLES	FNDE
United States	BLES +50.1 points	50.5%	0.4%
China	FNDE +34.1 points	0.2%	34.3%
Taiwan	FNDE +23.9 points	1.0%	24.9%
Brazil	FNDE +11.7 points	0.9%	12.6%
India	FNDE +10.1 points	0.0%	10.1%
South Africa	FNDE +5.6 points	1.6%	7.2%
Canada	BLES +4.2 points	4.2%	0.0%
Switzerland	BLES +4.1 points	4.1%	0.0%
Other countries (29)	BLES +26.8 points	37.4%	10.6%

Outside the US: BLES 79% developed, 21% emerging. FNDE 1% developed, 99% emerging.

Concentration

Weight in the 10 largest Holdings

BLES3.4%
FNDE26.7%

Securities held

BLES402
FNDE352

Asset class

BLES: Equity
FNDE: Equity

Holdings

Only in BLES384
In both18
Only in FNDE334

Only in BLES

384 securities, 95.7% of BLES by weight

Skyworks Solutio0.42%
Genmab A/S0.39%
Glaukos Corp0.37%
Bbh Sweep Vehicle0.37%
Ucb SA0.33%
Roper Technologi0.31%
Bentley System-B0.31%
Icon PLC0.31%
Zscaler Inc0.31%
Wisetech Global0.30%
Procore Technolo0.30%
Wolters Kluwer0.30%
Apa Corp0.30%
Docusign Inc0.30%
Ryder System Inc0.30%
Essilorluxottica0.30%
Check Point Soft0.30%
Manhattan Assoc0.29%
Cboe Global Mark0.29%
Dassault Systeme0.29%
Tyler Technolog0.29%
United Rentals0.29%
Constellation So0.29%
Receivables/Payables0.29%
Masco Corp0.29%
Can Natural Res0.29%
Aker Bp Asa0.29%
London Stock Ex0.29%
Tourmaline Oil C0.28%
Dsv A/S0.28%
First Citizens-A0.28%
Verisk Analyti0.28%
Fair Isaac Corp0.28%
Insulet Corp0.28%
Msci Inc0.28%
Steel Dynamics0.28%
Mongodb Inc0.28%
Centerpoint Ener0.28%
Targa Resources0.28%
Atco Ltd/Canada0.28%
H Lundbeck A/S-A0.28%
Fairfax Finl Hld0.28%
Carlisle Cos Inc0.28%
Givaudan-Reg0.28%
Nisource Inc0.28%
Rollins Inc0.28%
Kinetik Holdings0.28%
Reliance Inc0.28%
Equinor Asa0.28%
Royalty Pharma-A0.28%

Only in FNDE

334 securities, 95.9% of FNDE by weight

Taiwan Semiconductor Manufacturing5.60%
China Construction Bank Corp H2.86%
Petroleo Brasileiro Pref SA2.86%
Hon Hai Precision Industry2.79%
Petroleo Brasileiro SA2.72%
Alibaba Group Holding2.66%
Vale1.97%
Tencent Holdings1.87%
Industrial and Commercial Bank of1.76%
Jd Com Adr Representing Class A1.57%
Bank of China Ltd H1.55%
Mediatek1.32%
Petrochina H1.22%
China Petroleum and Chemical H1.00%
Ping An Insurance (Group) Co of Ch1.00%
Ptt Non-Voting Dr0.96%
Nan Ya Plastics Corp0.93%
Reliance Industries Ltd0.92%
Ase Technology Holding0.84%
Sasol0.81%
Evergreen Marine Corp (Taiwan) Ltd0.79%
United Micro Electronics Corp0.76%
Pdd Holdings Ads0.69%
Saudi Arabian Oil0.69%
America Movil B0.65%
Icici Bank0.64%
Infosys0.64%
Itau Unibanco Holding Pref SA0.63%
Fomento Economico Mexicano Ubd Uni0.62%
Hdfc Bank0.62%
Lenovo Group0.61%
China Merchants Bank H0.60%
Agricultural Bank of China H0.56%
Grupo Mexico B0.56%
Valterra Platinum Ltd0.54%
Innolux Corp0.52%
Fubon Financial Holding0.51%
Asustek Computer Inc0.50%
Ctbc Financial Holding0.48%
Xiaomi0.46%
Banco Do Brasil SA0.44%
China Shenhua Energy Ltd H0.43%
Firstrand Ltd0.42%
Vibra Energia SA0.42%
Gerdau Pref SA0.42%
Cemex Cpo0.41%
Auo0.38%
Bharti Airtel Ltd0.38%
Turkiye Petrol Rafinerileri A0.38%
Picc Property and Casualty Ltd H0.37%

Weight gaps

All 18 Holdings in both funds, largest gap first.

Holding weights in BLES and FNDE, widest gap first
Holding	More in BLESMore in FNDE	BLES	FNDE
Grupo F Banort-O	FNDE +0.31 points	0.25%	0.56%
Mtn Group Ltd	FNDE +0.24 points	0.25%	0.49%
Enel Americas SA	BLES +0.20 points	0.23%	0.03%
Grupo Bimbo-A	BLES +0.18 points	0.27%	0.09%
United Tractors	BLES +0.16 points	0.23%	0.07%
Cencosud SA	BLES +0.16 points	0.22%	0.06%
Standard Bank Gr	FNDE +0.16 points	0.25%	0.41%
Wistron Corp	FNDE +0.14 points	0.24%	0.38%
Molina HealthcarMOH	BLES +0.10 points	0.26%	0.16%
First Financial	BLES +0.09 points	0.27%	0.18%
Eva Airways	BLES +0.08 points	0.24%	0.16%
B3 SA	BLES +0.05 points	0.18%	0.13%
Bank Rakyat Indo	FNDE +0.05 points	0.21%	0.26%
Bank Mandiri	BLES +0.04 points	0.22%	0.18%
Suzano SA	BLES +0.04 points	0.26%	0.22%
Geely Automobile	BLES +0.03 points	0.22%	0.19%
Otp Bank PLC	FNDE +0.01 points	0.23%	0.24%
Mol	BLES +0.01 points	0.24%	0.23%

All BLES holdings⁠All 392 FNDE holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BLES vs FNDE Cost

Overpaying BLES vs FNDE

$3,919

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BLES 0.60%
$11,817
FNDE 0.39%
$7,898

Amount$10,000

Years30 years

Cost over time

BLES 0.60%
FNDE 0.39%
Overpaying

Year by year

Year	BLES	FNDE	Overpaying
10	$1,076	$705	$371
20	$4,116	$2,725	$1,391
30	$11,817	$7,898	$3,919

Expense ratio

0.60%BLES
0.39%FNDE, cheaper

FNDE0.39%BLES0.60%

0.25%0.90%

Middle half of Emerging Markets Factor Index funds
Median 0.44%

FNDE 4th cheapest of 10 funds

BLES 7th cheapest of 10 funds

BLES vs FNDE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BLES 1.86%; FNDE 3.66%, better
Payout (12M): BLES $0.89; FNDE $1.49
Last payment: BLES $0.18; FNDE $0.19
Ex-dividend: BLES Sep 25, 2026; FNDE Jun 24, 2026
Paid on: BLES Oct 1, 2026; FNDE Jun 29, 2026
Frequency: BLES Quarterly; FNDE Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

BLESQuarterly · 39 paymentsAll BLES payments⁠

FNDETwice a year · 20 paymentsAll FNDE payments⁠

BLES vs FNDE Risk

Fall from peak · 5 years

BLES
FNDE

Risk facts

VolatilityStd dev, 3 years: BLES 12.3%FNDE 11.0%, better
Return per unit of riskSharpe ratio, 3 years: BLES 1.10FNDE 1.49, better
Worst fallMax drawdown, 5 years: BLES −26.6%, betterFNDE −29.4%
Market sensitivityBeta, 5 years: BLES 0.88FNDE 0.80; Market = 1

Popular comparisons

BLESCvsEEMVA
Inspire Global Hope ETF · iShares MSCI Emerging Markets Min Vol Factor ETF
Expense ratio
0.60% · 0.25%
Category
FNDEBvsEEMVA
Schwab Fundamental Emerging Markets Large Company Index ETF · iShares MSCI Emerging Markets Min Vol Factor ETF
Expense ratio
0.39% · 0.25%
Category
BLESCvsEELVB
Inspire Global Hope ETF · Invesco S&P Emerging Markets Low Volatility ETF
Expense ratio
0.60% · 0.29%
Category
FNDEBvsEELVB
Schwab Fundamental Emerging Markets Large Company Index ETF · Invesco S&P Emerging Markets Low Volatility ETF
Expense ratio
0.39% · 0.29%
Category
BLESCvsPXHB
Inspire Global Hope ETF · Invesco RAFI Emerging Markets ETF
Expense ratio
0.60% · 0.47%
Category
FNDEBvsPXHB
Schwab Fundamental Emerging Markets Large Company Index ETF · Invesco RAFI Emerging Markets ETF
Expense ratio
0.39% · 0.47%
Category