FNDA vs SCHA: Grades, Fees and Holdings Compared

Schwab Fundamental U.S. Small Company Index ETF

FNDABNYSE Arca

Schwab U.S. Small-Cap ETF

SCHAANYSE Arca

Overlap

46.2%by weight

Expense ratio

SCHA −0.22pt a year

FNDA0.25%SCHA0.03%

Avg volume · 30D

SCHA 2.1×the volume

FNDA1.49MSCHA3.05M

10Y return · a year

SCHA +0.3pt

FNDA+10.2%SCHA+10.5%

FNDA vs SCHA Performance

Nov 9, 2021 – Nov 9, 2026

+35.9%FNDA+30.4%SCHA

Expense ratio: FNDA 0.25%; SCHA 0.03%, better
Fund size: FNDA $8.78B; SCHA $21.7B
1Y total return: FNDA +20.7%; SCHA +21.8%, better
Yield (12M): FNDA 1.21%, better; SCHA 1.11%
Holdings: FNDA 905; SCHA 1738
Avg volume (30D): FNDA 1.49M sh; SCHA 3.05M sh, better
NAV per share: FNDA $35.50; SCHA $32.39
52W range

ETF.net Grade

Pillar letters and Scores for FNDA, SCHA, with each pillar’s weight
Pillar	FNDA	SCHA
Cost30% weight	D34	A91Higher
Mission25% weight	A79	A96Higher
Risk15% weight	B60Higher	D38
Tradability15% weight	A85	A86Higher
Holdings10% weight	B68	A82Higher
Durability5% weight	B65	A77Higher

Rank among US Small-Cap funds

How we build Categories ›

Same Category. FNDA and SCHA are both graded against the same 16 US Small-Cap funds, so their Grades compare head to head.

US Small-Cap⁠

Category · 16 funds

See all 16 ›

SCHA ranks 1st and FNDA 10th of 16 funds in the US Small-Cap Category.

Rank 1ASCHASchwab U.S. Small-Cap ETFScore 81
Rank 2AVBVanguard Morningstar Small-Cap ETFScore 76
Rank 9BBBSCJPMorgan BetaBuilders U.S. Small Cap Equity ETFScore 62
Rank 10BFNDASchwab Fundamental U.S. Small Company Index ETFScore 61
Rank 11CEBITHarbor AlphaEdge Small Cap Earners ETF (EBIT)Score 48

Our read on each fund

ETF.net Research

FNDABSchwab Fundamental U.S. Small Company Index ETF

SCHAASchwab U.S. Small-Cap ETF

In short

FNDA Most small-cap index funds size positions by stock price. FNDA sizes them by fundamental measures of business size instead, which tilts the portfolio toward value. Schwab's contrarian take on small-cap indexing.

SCHA Schwab's small-cap workhorse: three basis points, roughly 1,700 companies, and a mandate to hold the slice of the US market that sits below the large and mid caps. Running since 2009.

Stated mandate

FNDA The fund seeks to track, before fees and expenses, an index representing small U.S. companies selected and weighted according to fundamental size measures.

SCHA The fund seeks to closely track, before fees and expenses, the total return of the Dow Jones U.S. Small-Cap Total Stock Market Index. It generally invests in that index’s small-cap stocks and normally places at least 90% of net assets in them.

Why people hold it

FNDA Weights companies by fundamental size measures rather than market price, so a name's slot in the fund follows the business, not the crowd's current enthusiasm for the shares.schwabassetmanagement.com
Roughly 900 holdings, so no single small cap steers the whole portfolio.
The 0.25% expense ratio sits right at the median for US small-cap ETFs, which is modest for a rules-based strategy that rebalances against price.
A multi-billion-dollar fund that trades actively, running on an index built with a liquidity screen, which matters in a corner of the market where spreads bite.

SCHA At 0.03% a year, it is tied for the cheapest fund in its small-cap peer group and a fraction of the 0.25% category median. The fee is the one variable you know in advance.
Roughly 1,700 stocks, weighted by size. That is the whole small-cap tail rather than a curated shortlist, and no single name gets to steer the portfolio.
The contract is plain: at least 90% of net assets in the Dow Jones U.S. Small-Cap Total Stock Market Index, and it has tracked that benchmark closely.
Sixteen years old, multi-billion-dollar, actively traded, and pays quarterly. One of the sturdier implementations among the broad small-cap index funds we cover.

Worth knowing

FNDA Plain market-cap rivals go far cheaper: SCHA and VB both charge 0.03%. The fundamental tilt carries a real fee premium over vanilla small-cap exposure.
The advertised value screen means returns can drift from standard small-cap benchmarks for long stretches, in either direction.
Fundamental weighting rebalances toward shares that have fallen relative to their business size, so the fund leans into unloved names by design.

SCHA Small caps move harder than large caps in both directions. This fund takes the full ride with no hedge, buffer, or volatility damper in the design.
The index sorts by size, not quality. Unprofitable and lightly covered companies come along with everything else, since no earnings screen sits in front of the portfolio.
It follows a Dow Jones small-cap index, not the Russell 2000 that IWM and VTWO track, so its returns and headlines about that benchmark will not line up exactly.

Full FNDA profile⁠

Full SCHA profile⁠

FNDA vs SCHA Holdings

How FNDA and SCHA differ

Overlap by weight

46.2%

Shared holdings make up 75.2% of FNDA and 51.7% of SCHA.

Level by level

Holdings714 in both46.2%
Sector11 Sectors90.0%
Countryby domicile99.2%
Asset classStocks100%

Sector

Sector weights in FNDA and SCHA, widest gap first
Sector	Gap	FNDA	SCHA
Health Care	SCHA +8.2 points	9.1%	17.3%
Industrials	FNDA +3.0 points	17.4%	14.4%
Real Estate	FNDA +2.8 points	9.9%	7.1%
Consumer Discretionary	FNDA +2.1 points	13.6%	11.5%
Consumer Staples	FNDA +1.0 points	4.0%	3.0%
Technology	SCHA +0.9 points	13.8%	14.7%
Communication	FNDA +0.8 points	3.8%	3.0%
Financials	SCHA +0.6 points	16.6%	17.3%
Utilities	FNDA +0.2 points	2.8%	2.6%
Energy	SCHA +0.1 points	4.8%	5.0%
Materials	Same weight	4.1%	4.1%

Country, concentration and asset class

Country by domicile

Country weights in FNDA and SCHA, widest gap first
Country	Gap	FNDA	SCHA
United States	FNDA +0.5 points	99.5%	99.0%
Switzerland	SCHA +0.2 points	0.0%	0.2%
United Kingdom	FNDA +0.2 points	0.2%	0.0%
Brazil	SCHA +0.1 points	0.1%	0.2%
India	SCHA +0.2 points	0.0%	0.2%
Ireland	SCHA +0.1 points	0.0%	0.1%
Belgium	SCHA +0.1 points	0.0%	0.1%
Canada	SCHA +0.1 points	0.0%	0.1%
Other countries (7)	Same weight	0.2%	0.2%

Concentration

Weight in the 10 largest Holdings

FNDA3.9%
SCHA2.8%

Securities held

FNDA904
SCHA1,737

Asset class

FNDA: Stocks
SCHA: Stocks

Holdings

Only in FNDA190
In both714
Only in SCHA1,023

Only in FNDA

190 securities, 24.8% of FNDA by weight

Factset Research Systems0.39%
Royalty Pharma PLC Class A0.37%
Veeva Systems Class A0.36%
Exelixis Inc0.35%
Etsy0.35%
Gamestop Class A0.33%
Chemed0.32%
Verisign0.31%
Bio Rad Laboratories Class A0.30%
Match Group Inc0.30%
Twilio Class A0.29%
Sharkninja0.28%
Doordash Class A0.28%
Core & Main Inc Class A0.28%
Tetra Tech0.28%
Entegris Inc0.27%
Applied Industrial Technologies0.27%
Dexcom Inc0.27%
Federal Realty Investment Trust Re0.27%
United Airlines Holdings0.27%
Unity Software0.26%
American Homes Rent Reit Class A0.26%
Western Alliance0.26%
Cubesmart Reit0.26%
Liberty Media Series C0.26%
Five Below0.25%
Stifel Financial0.25%
Woodward0.25%
Pinnacle Financial Partners0.25%
Saia Inc0.25%
Omega Healthcare Investors Reit0.25%
Southern Copper Corp0.24%
Pinterest Class A0.24%
Ati0.24%
Ptc0.24%
Xpo0.24%
Paycom Software0.24%
Talen Energy0.24%
Cullen Frost Bankers0.23%
Equity Lifestyle Properties Reit I0.22%
Biomarin Pharmaceutical0.22%
Applovin Class A0.21%
Api Group0.21%
Heico0.21%
Tyler Technologies0.21%
Moog Inc Class A0.21%
Neurocrine Biosciences0.21%
Mks0.21%
Curtiss Wright0.20%
Echostar Class A0.20%

Only in SCHA

1,023 securities, 48.3% of SCHA by weight

Glaukos0.33%
Bitmine Immersion Technologies0.28%
Ryder System0.25%
Popular0.25%
Allison Transmission Holdings0.24%
Kymera Therapeutics0.24%
Affiliated Managers Group0.23%
Solstice Advanced Materials Inc0.23%
Primerica0.22%
Vaxcyte0.22%
Spyre Therapeutics Inc0.21%
Protagonist Therapeutics0.21%
Tg Therapeutics0.21%
Oshkosh Corp0.20%
Arrowhead Pharmaceuticals0.20%
Jackson Financial Class A0.20%
Epam Systems0.20%
Krystal Biotech0.20%
Twist Bioscience0.20%
Ugi0.20%
Madrigal Pharmaceuticals0.20%
Darling Ingredients0.20%
Viper Energy Inc Class A0.19%
Chord Energy0.18%
Cytokinetics0.18%
Sentinelone Inc Class A0.18%
Crocs0.18%
Gitlab Class A0.18%
Liberty Live Holdings Inc Series C0.18%
Sanmina0.18%
Praxis Precision Medicines0.18%
10X Genomics Class A0.18%
Sm Energy0.18%
Mosaic0.17%
A O Smith0.17%
Zeta Global Holdings Class A0.17%
Chime Financial Class A0.17%
National Fuel Gas0.17%
Rhythm Pharmaceuticals0.17%
Lincoln National Corp0.17%
Commercial Metals0.17%
Hinge Health Class A0.17%
First American Financial Corp0.17%
Vf Corp0.17%
Pbf Energy Class A0.16%
Ionis Pharmaceuticals0.16%
Cleveland Cliffs Inc0.16%
Genpact0.16%
Timken0.16%
Avnet0.16%

Weight gaps

The 100 widest of 714 Holdings in both funds.

Holding weights in FNDA and SCHA, widest gap first
Holding	Gap	FNDA	SCHA
Acadia Healthcare CompanyACHC	FNDA +0.32 points	0.40%	0.08%
Abercrombie and Fitch Class AANF	FNDA +0.29 points	0.45%	0.16%
Victoria’s SecretVSXY	FNDA +0.27 points	0.48%	0.21%
Cracker Barrel Old Country Store ICBRL	FNDA +0.24 points	0.28%	0.04%
Park Hotels Resorts IncPK	FNDA +0.21 points	0.29%	0.08%
Americold Realty Inc TrustCOLD	FNDA +0.21 points	0.32%	0.11%
American Healthcare ReitAHR	SCHA +0.21 points	0.10%	0.31%
Wayfair Class AW	SCHA +0.20 points	0.12%	0.32%
Crescent Energy Class ACRGY	FNDA +0.20 points	0.29%	0.09%
Par Pacific HoldingsPARR	FNDA +0.20 points	0.28%	0.08%
Compass Inc Class ACOMP	FNDA +0.18 points	0.37%	0.19%
ArcbestARCB	FNDA +0.18 points	0.25%	0.07%
Fti ConsultingFCN	FNDA +0.18 points	0.31%	0.13%
Agilon HealthAGL	FNDA +0.18 points	0.21%	0.03%
Hecla MiningHL	SCHA +0.17 points	0.07%	0.24%
Urban OutfittersURBN	FNDA +0.17 points	0.29%	0.12%
Caretrust ReitCTRE	SCHA +0.16 points	0.06%	0.22%
Under Armour Inc Class AUAA	FNDA +0.17 points	0.21%	0.04%
Dropbox Inc Class ADBX	FNDA +0.17 points	0.29%	0.12%
Delek Us Holdings IncDK	FNDA +0.16 points	0.26%	0.10%
Rxo IncRXO	FNDA +0.16 points	0.27%	0.11%
H&R Block IncHRB	FNDA +0.16 points	0.32%	0.16%
Columbia SportswearCOLM	FNDA +0.15 points	0.19%	0.04%
WexWEX	FNDA +0.16 points	0.30%	0.14%
ValvolineVVV	FNDA +0.15 points	0.26%	0.11%
Life Time Group HoldingsLTH	SCHA +0.15 points	0.07%	0.22%
Euronet WorldwideEEFT	FNDA +0.15 points	0.21%	0.06%
Cal Maine FoodsCALM	FNDA +0.15 points	0.22%	0.07%
Fortrea Holdings IncFTRE	FNDA +0.15 points	0.20%	0.05%
Helen of Troy LtdHELE	FNDA +0.15 points	0.17%	0.02%
Geo GroupGEO	FNDA +0.15 points	0.24%	0.09%
Travel LeisureTNL	FNDA +0.15 points	0.26%	0.11%
Northern Oil and GasNOG	FNDA +0.14 points	0.20%	0.06%
Kilroy Realty ReitKRC	FNDA +0.14 points	0.24%	0.10%
RambusRMBS	SCHA +0.14 points	0.06%	0.20%
Black Hills CorpBKH	FNDA +0.14 points	0.30%	0.16%
Kosmos EnergyKOS	FNDA +0.14 points	0.17%	0.03%
RhRH	FNDA +0.14 points	0.19%	0.05%
Option Care Health IncOPCH	FNDA +0.13 points	0.25%	0.12%
WendysWEN	FNDA +0.14 points	0.17%	0.03%
Sl Green Realty Reit CorpSLG	FNDA +0.13 points	0.22%	0.09%
VestisVSTS	FNDA +0.13 points	0.17%	0.04%
Ziff Davis IncZD	FNDA +0.13 points	0.17%	0.04%
Bank OzkOZK	FNDA +0.13 points	0.26%	0.13%
Werner EnterprisesWERN	FNDA +0.13 points	0.17%	0.04%
Gold IncGOLD	FNDA +0.12 points	0.14%	0.02%
InsperityNSP	FNDA +0.13 points	0.17%	0.04%
Concentra Group Holdings Parent InCON	FNDA +0.13 points	0.25%	0.12%
Core Natural ResourcesCNR	FNDA +0.12 points	0.22%	0.10%
Grocery Outlet HoldingGO	FNDA +0.12 points	0.15%	0.03%
TerexTEX	FNDA +0.12 points	0.27%	0.15%
Envista HoldingsNVST	FNDA +0.12 points	0.22%	0.10%
Hilton Grand VacationsHGV	FNDA +0.12 points	0.18%	0.06%
Steven MaddenSHOO	FNDA +0.12 points	0.19%	0.07%
Healthcare Realty Trust Inc ClassHR	FNDA +0.12 points	0.28%	0.16%
Silgan HoldingsSLGN	FNDA +0.11 points	0.20%	0.09%
Agree Realty ReitADC	SCHA +0.11 points	0.10%	0.21%
Halozyme TherapeuticsHALO	SCHA +0.11 points	0.18%	0.29%
Oscar Health Class AOSCR	SCHA +0.11 points	0.08%	0.19%
Brinker International IncEAT	SCHA +0.11 points	0.11%	0.22%
Coty Class ACOTY	FNDA +0.11 points	0.15%	0.04%
Brightspring Health Services IncBTSG	SCHA +0.11 points	0.17%	0.28%
Apple Hospitality Reit IncAPLE	FNDA +0.11 points	0.21%	0.10%
Boston Beer Class ASAM	FNDA +0.11 points	0.15%	0.04%
Wyndham Hotels ResortsWH	FNDA +0.11 points	0.25%	0.14%
Nabors IndustriesNBR	FNDA +0.10 points	0.13%	0.03%
Spx Technologies IncSPXC	SCHA +0.11 points	0.07%	0.18%
SeaboardSEB	FNDA +0.11 points	0.13%	0.02%
VontierVNT	FNDA +0.11 points	0.25%	0.14%
Rayonier ReitRYN	FNDA +0.10 points	0.25%	0.15%
International SeawaysINSW	FNDA +0.11 points	0.21%	0.10%
Virtu Financial Inc Class AVIRT	FNDA +0.11 points	0.22%	0.11%
Credit Acceptance CorpCACC	FNDA +0.10 points	0.17%	0.07%
Federated Hermes Inc Class BFHI	FNDA +0.11 points	0.22%	0.11%
Sally Beauty HoldingsSBH	FNDA +0.11 points	0.15%	0.04%
Callaway Golf CompanyCALY	FNDA +0.11 points	0.17%	0.06%
Ryerson HoldingRYZ	FNDA +0.10 points	0.13%	0.03%
Southwest Gas HoldingsSWX	SCHA +0.10 points	0.06%	0.16%
Patrick IndustriesPATK	FNDA +0.10 points	0.16%	0.06%
Encore Capital GroupECPG	FNDA +0.10 points	0.16%	0.06%
Bloomin Brands IncBLMN	FNDA +0.10 points	0.12%	0.02%
HealthequityHQY	SCHA +0.10 points	0.11%	0.21%
Siteone Landscape Supply IncSITE	FNDA +0.10 points	0.22%	0.12%
DnowDNOW	FNDA +0.10 points	0.16%	0.06%
Pennymac Financial ServicesPFSI	FNDA +0.10 points	0.15%	0.05%
Warrior Met Coal IncHCC	FNDA +0.10 points	0.21%	0.11%
Lci IndustriesLCII	FNDA +0.10 points	0.16%	0.06%
Cousins Properties Reit IncCUZ	FNDA +0.10 points	0.22%	0.12%
Gulfport EnergyGPOR	FNDA +0.10 points	0.15%	0.05%
PeoplePPLI	FNDA +0.10 points	0.16%	0.06%
Trinet GroupinaryTNET	FNDA +0.09 points	0.14%	0.05%
Avient CorpAVNT	FNDA +0.10 points	0.20%	0.10%
TeradataTDC	FNDA +0.10 points	0.17%	0.07%
Energizer HoldingsENR	FNDA +0.09 points	0.13%	0.04%
BankunitedBKU	FNDA +0.09 points	0.17%	0.08%
Talos EnergyTALO	FNDA +0.09 points	0.14%	0.05%
Rlj Lodging Trust ReitRLJ	FNDA +0.10 points	0.14%	0.04%
HniHNI	FNDA +0.10 points	0.18%	0.08%
Iridium CommunicationsIRDM	FNDA +0.09 points	0.21%	0.12%
Highwoods Properties ReitHIW	FNDA +0.09 points	0.18%	0.09%

All 908 FNDA holdings⁠All 1,744 SCHA 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.

FNDA vs SCHA Cost

Overpaying FNDA vs SCHA

$4,521

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

FNDA 0.25%
$5,159
SCHA 0.03%
$638

Amount$10,000

Years30 years

Cost over time

FNDA 0.25%
SCHA 0.03%
Overpaying

Year by year

Year	FNDA	SCHA	Overpaying
10	$455	$55	$400
20	$1,769	$216	$1,553
30	$5,159	$638	$4,521

Expense ratio

0.25%FNDA
0.03%SCHA, cheaper

SCHA0.03%FNDA0.25%

0.03%0.60%

Middle half of US Small-Cap funds
Median 0.20%

SCHA cheapest of 16 funds

FNDA 10th cheapest of 16 funds

FNDA vs SCHA Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FNDA 1.21%, better; SCHA 1.11%
Payout (12M): FNDA $0.44; SCHA $0.37
Last payment: FNDA $0.13; SCHA $0.10
Ex-dividend: FNDA Sep 23, 2026; SCHA Sep 23, 2026
Paid on: FNDA Sep 28, 2026; SCHA Sep 28, 2026
Frequency: FNDA Quarterly; SCHA Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FNDAQuarterly · 36 paymentsAll FNDA payments⁠

SCHAQuarterly · 40 paymentsAll SCHA payments⁠

FNDA vs SCHA Risk

Fall from peak · 5 years

FNDA
SCHA

Risk facts

VolatilityStd dev, 3 years: FNDA 17.6%, betterSCHA 18.6%
Return per unit of riskSharpe ratio, 3 years: FNDA 0.77SCHA 0.88, better
Worst fallMax drawdown, 5 years: FNDA −25.9%, betterSCHA −30.6%
Market sensitivityBeta, 5 years: FNDA 1.06SCHA 1.13; Market = 1

FNDA and SCHA in the news

All news⁠

Best ETFs
Best small-cap ETFs: Vanguard’s VB beats three great funds all charging just 0.03%
Updated Nov 2, 2026SCHA
Best ETFs
Schwab and Vanguard charge the same 0.03%. Their small-cap funds are 3.7 percentage points apart
Updated Oct 2, 2026SCHA

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FNDA vs SCHA

In short

Stated mandate

Why people hold it

Worth knowing

How FNDA and SCHA differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FNDA

Only in SCHA

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best small-cap ETFs: Vanguard’s VB beats three great funds all charging just 0.03%

Schwab and Vanguard charge the same 0.03%. Their small-cap funds are 3.7 percentage points apart

How FNDA and SCHA differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FNDA

Only in SCHA

Weight gaps