FLN vs FNDE: Grades, Fees and Holdings Compared

First Trust Latin America AlphaDEX Fund

FLNFNasdaq

Schwab Fundamental Emerging Markets Large Company Index ETF

FNDEBNYSE Arca

Overlap

9.2%by weight

Expense ratio

FNDE −0.41pt a year

FLN0.80%FNDE0.39%

Avg volume · 30D

FNDE 125.3×the volume

FLN12.2KFNDE1.53M

10Y return · a year

FNDE +2.9pt

FLN+6.2%FNDE+9.1%

FLN vs FNDE Performance

Oct 29, 2021 – Oct 30, 2026

+76.6%FLN+58.4%FNDE

Expense ratio: FLN 0.80%; FNDE 0.39%, better
Fund size: FLN $40M; FNDE $9.97B
1Y total return: FLN +13.6%; FNDE +14.4%, better
Yield (12M): FLN 4.02%, better; FNDE 3.66%
Holdings: FLN 54; FNDE 370
Avg volume (30D): FLN 12.2K sh; FNDE 1.53M sh, better
NAV per share: FLN $23.54; FNDE $40.60
52W range

ETF.net Grade

Pillar letters and Scores for FLN, FNDE, with each pillar’s weight
Pillar	FLN	FNDE
Cost30% weight	F14	B62Higher
Mission25% weight	D27	A96Higher
Risk15% weight	F22	B61Higher
Tradability15% weight	C40	A74Higher
Holdings10% weight	D28	C54Higher
Durability5% weight	D29	A79Higher

Rank among Emerging Markets Factor Index funds

How we build Categories ›

Same Category. FLN 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 FLN 10th 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 9DPIEInvesco Dorsey Wright Emerging Markets Momentum ETFScore 30
Rank 10FFLNFirst Trust Latin America AlphaDEX FundScore 23

Our read on each fund

ETF.net Research

FLNFFirst Trust Latin America AlphaDEX Fund

FNDEBSchwab Fundamental Emerging Markets Large Company Index ETF

In short

FLN Most Latin America funds just buy the region's biggest companies. FLN runs Latin American stocks through First Trust's AlphaDEX growth-and-value screen first, then holds the roughly 60 names that survive it.

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

FLN The fund seeks investment results that generally correspond to the price and yield of the Nasdaq AlphaDEX Latin America Index before fees and expenses.

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

FLN Rules-based stock picking, not a market-cap copy: the AlphaDEX screen ranks stocks on growth and value factors and builds the index from the winners.
Roughly 60 holdings, so the screen actually shows up in the portfolio instead of getting diluted across hundreds of names.
Live since 2011, giving it a long public record across the region's commodity and currency cycles.
Distributions land quarterly, and the mandate is a clean single-region equity sleeve: Latin America, nothing else bolted on.

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

FLN The screen carries a price: 0.80% a year, well above what plain index-tracking ETFs in its peer group typically charge. That is a permanent drag on the strategy.
Small asset base and light trading volume, so spreads can be wider than on the region's household-name funds and large orders need care.
One region, one currency basket of risks. Latin American politics and exchange rates drive results here in a way a global fund would smooth out.

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 FLN profile⁠

Full FNDE profile⁠

FLN vs FNDE Holdings

How FLN and FNDE differ

Overlap by weight

9.2%

Shared holdings make up 42.8% of FLN and 9.3% of FNDE.

Level by level

Holdings24 in both9.2%
Countryby domicile17.0%
Sector11 Sectors70.7%
Asset classEquity100%

Sector

Sector weights in FLN and FNDE, widest gap first
Sector	More in FLNMore in FNDE	FLN	FNDE
Technology	FNDE +19.8 points	0.0%	19.8%
Utilities	FLN +14.4 points	16.6%	2.2%
Industrials	FLN +7.4 points	12.3%	4.9%
Consumer Staples	FLN +4.2 points	7.3%	3.1%
Energy	FNDE +3.8 points	10.9%	14.7%
Consumer Discretionary	FNDE +3.3 points	6.1%	9.4%
Real Estate	FLN +3.2 points	4.6%	1.4%
Financials	FNDE +1.6 points	24.8%	26.4%
Communication	FNDE +0.6 points	5.5%	6.1%
Health Care	FLN +0.1 points	0.5%	0.4%
Materials	FNDE +0.2 points	11.3%	11.5%

Country, concentration and asset class

Country by domicile

Country weights in FLN and FNDE, widest gap first
Country	More in FLNMore in FNDE	FLN	FNDE
Brazil	FLN +41.7 points	54.3%	12.6%
China	FNDE +34.3 points	0.0%	34.3%
Taiwan	FNDE +24.9 points	0.0%	24.9%
Mexico	FLN +24.1 points	27.7%	3.6%
Chile	FLN +14.2 points	14.6%	0.4%
India	FNDE +10.1 points	0.0%	10.1%
South Africa	FNDE +7.2 points	0.0%	7.2%
Thailand	FNDE +3.1 points	0.0%	3.1%
Other countries (7)	FNDE +0.3 points	3.5%	3.8%

Outside the US: FLN 0% developed, 100% emerging. FNDE 1% developed, 99% emerging.

Concentration

Weight in the 10 largest Holdings

FLN35.1%
FNDE26.7%

Securities held

FLN50
FNDE352

Asset class

FLN: Equity
FNDE: Equity

Holdings

Only in FLN26
In both24
Only in FNDE328

Only in FLN

26 securities, 57.1% of FLN by weight

Fibra Uno Administracion, S.A. de C.V.4.02%
Promotora y Operadora de Infraestructura, S.A.B. de C.V.3.86%
BBB Foods Inc. (Class A)3.82%
Coca-Cola FEMSA, S.A.B. de C.V.3.78%
Tim S.a.3.58%
Embraer SA2.80%
Enel Chile SA2.76%
Banco BTG Pactual SA (Unit)2.75%
Banco Itau Chile SA2.68%
Eneva S.a.2.52%
Petro Rio S.A.2.41%
Itausa S.A. (Preference Shares)2.33%
Falabella SA2.14%
GRUMA, S.A.B. de C.V.2.11%
Porto Seguro S.A.1.94%
Industrias Penoles, S.A.B. de C.V.1.79%
Motiva Infraestrutura de Mobilidade SA1.71%
Grupo Financiero Inbursa, S.A.B. de C.V.1.48%
XP Inc. (Class A)1.45%
Banco de Credito e Inversiones1.34%
Credicorp Ltd.1.31%
Engie Brasil Energia SA1.22%
LATAM Airlines Group S.A.1.19%
BB Seguridade Participacoes S.A.0.72%
Interconexion Electrica S.A. E.S.P.0.71%
Banco Santander Chile0.66%

Only in FNDE

328 securities, 90.6% of FNDE by weight

Taiwan Semiconductor Manufacturing5.60%
China Construction Bank Corp H2.86%
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%
Icici Bank0.64%
Infosys0.64%
Hdfc Bank0.62%
Lenovo Group0.61%
China Merchants Bank H0.60%
Gpo Finance Banorte0.56%
Agricultural Bank of China H0.56%
Valterra Platinum Ltd0.54%
Innolux Corp0.52%
Fubon Financial Holding0.51%
Asustek Computer Inc0.50%
Mtn Group0.49%
Ctbc Financial Holding0.48%
Xiaomi0.46%
China Shenhua Energy Ltd H0.43%
Firstrand Ltd0.42%
Standard Bank Group0.41%
Auo0.38%
Wistron0.38%
Bharti Airtel Ltd0.38%
Turkiye Petrol Rafinerileri A0.38%
Picc Property and Casualty Ltd H0.37%
Quanta Computer0.37%
Formosa Plastics Corp0.37%
Meituan0.37%
State Bank of India0.37%
Baidu0.36%

Weight gaps

All 24 Holdings in both funds, largest gap first.

Holding weights in FLN and FNDE, widest gap first
Holding	More in FLNMore in FNDE	FLN	FNDE
Gerdau S.A. (Preferred Shares)	FLN +3.12 points	3.54%	0.42%
Suzano SA	FLN +2.88 points	3.10%	0.22%
Empresas Copec S.A.	FLN +2.80 points	2.87%	0.07%
Telefonica Brasil S.A.	FLN +2.72 points	2.82%	0.10%
Ultrapar Participacoes S.A.	FLN +2.63 points	2.88%	0.25%
Companhia Energetica de Minas Gerais-CEMIG (Preference)	FLN +2.34 points	2.47%	0.13%
Vibra Energia SA	FLN +2.30 points	2.72%	0.42%
Grupo Mexico, S.A.B. de C.V. (Class B)	FLN +2.13 points	2.69%	0.56%
Companhia Paranaense de Energia-Copel	FLN +1.75 points	1.84%	0.09%
Sigma Foods, S.A.B. de C.V. (Class A)	FLN +1.37 points	1.47%	0.10%
Localiza Rent a Car S.A.	FLN +1.33 points	1.41%	0.08%
Grupo Cibest S.A. (Preference)	FLN +1.25 points	1.45%	0.20%
Banco do Brasil S.A.	FLN +1.02 points	1.46%	0.44%
Fomento Economico Mexicano, S.A.B. de C.V. (FEMSA)	FLN +0.88 points	1.50%	0.62%
B3 S.A. - Brasil, Bolsa, Balcao	FLN +0.87 points	1.00%	0.13%
Petroleo Brasileiro S.A. (Petrobras) (Preference Shares)	FLN +0.81 points	3.67%	2.86%
Banco Bradesco S.A. (Preference Shares)	FLN +0.67 points	1.02%	0.35%
Banco de Chile	FLN +0.54 points	0.66%	0.12%
Cia. de Saneamento Basico do Estado de Sao Paulo - SABESP	FLN +0.49 points	0.62%	0.13%
AXIA Energia SA	FLN +0.44 points	0.59%	0.15%
Equatorial Energia SA	FLN +0.42 points	0.55%	0.13%
CEMEX, S.A.B. de C.V. (Unit)	FLN +0.39 points	0.80%	0.41%
America Movil, S.A.B. de C.V. (Class B)	FLN +0.17 points	0.82%	0.65%
Itau Unibanco Holding S.A. (Preference Shares)	FNDE +0.03 points	0.60%	0.63%

All 50 FLN 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.

FLN vs FNDE Cost

Overpaying FLN vs FNDE

$7,448

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

FLN 0.80%
$15,346
FNDE 0.39%
$7,898

Amount$10,000

Years30 years

Cost over time

FLN 0.80%
FNDE 0.39%
Overpaying

Year by year

Year	FLN	FNDE	Overpaying
10	$1,422	$705	$717
20	$5,393	$2,725	$2,668
30	$15,346	$7,898	$7,448

Expense ratio

0.80%FLN
0.39%FNDE, cheaper

FNDE0.39%FLN0.80%

0.25%0.90%

Middle half of Emerging Markets Factor Index funds
Median 0.44%

FNDE 4th cheapest of 10 funds

FLN 9th cheapest of 10 funds

FLN vs FNDE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FLN 4.02%, better; FNDE 3.66%
Payout (12M): FLN $0.95; FNDE $1.49
Last payment: FLN $0.15; FNDE $0.19
Ex-dividend: FLN Sep 24, 2026; FNDE Jun 24, 2026
Paid on: FLN Sep 30, 2026; FNDE Jun 29, 2026
Frequency: FLN Quarterly; FNDE Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

FLNQuarterly · 37 paymentsAll FLN payments⁠

FNDETwice a year · 20 paymentsAll FNDE payments⁠

FLN vs FNDE Risk

Fall from peak · 5 years

FLN
FNDE

Risk facts

VolatilityStd dev, 3 years: FLN 19.7%FNDE 11.0%, better
Return per unit of riskSharpe ratio, 3 years: FLN 0.59FNDE 1.49, better
Worst fallMax drawdown, 5 years: FLN −26.0%, betterFNDE −29.4%
Market sensitivityBeta, 5 years: FLN 0.97FNDE 0.80; Market = 1

FLN and FNDE in the news

All news⁠

ETF Filings
Chile's LarrainVial files an active Latin America ETF through Tidal
Sep 23, 2026FLN

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FLN vs FNDE

In short

Stated mandate

Why people hold it

Worth knowing

How FLN and FNDE differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FLN

Only in FNDE

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Chile's LarrainVial files an active Latin America ETF through Tidal

Chile's LarrainVial files an active Latin America ETF through Tidal

How FLN and FNDE differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FLN

Only in FNDE

Weight gaps