FNDA vs VB: Grades, Fees and Holdings Compared

Schwab Fundamental U.S. Small Company Index ETF

FNDABNYSE Arca

Vanguard Morningstar Small-Cap ETF

VBANYSE Arca

Overlap

34.9%by weight

Expense ratio

VB −0.22pt a year

FNDA0.25%VB0.03%

Avg volume · 30D

FNDA 3.0×the volume

FNDA1.49MVB491K

10Y return · a year

VB +0.8pt

FNDA+10.2%VB+11.0%

FNDA vs VB Performance

Nov 9, 2021 – Nov 9, 2026

+35.9%FNDA+33.0%VB

Expense ratio: FNDA 0.25%; VB 0.03%, better
Fund size: FNDA $8.78B; VB $76.9B
1Y total return: FNDA +20.7%, better; VB +17.8%
Yield (12M): FNDA 1.21%; VB 1.24%, better
Holdings: FNDA 905; VB 1309
Avg volume (30D): FNDA 1.49M sh, better; VB 491K sh
NAV per share: FNDA $35.50; VB $285.63
52W range

ETF.net Grade

Pillar letters and Scores for FNDA, VB, with each pillar’s weight
Pillar	FNDA	VB
Cost30% weight	D34	A91Higher
Mission25% weight	A79	A86Higher
Risk15% weight	B60	B63Higher
Tradability15% weight	A85Higher	C54
Holdings10% weight	B68Higher	B59
Durability5% weight	B65	A86Higher

Rank among US Small-Cap funds

How we build Categories ›

Same Category. FNDA and VB 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 ›

VB ranks 2nd 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 3AVTWOVanguard Russell 2000 ETFScore 72
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

VBAVanguard Morningstar 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.

VB Vanguard's small-cap workhorse: roughly 1,400 smaller US companies for three basis points. The CRSP index behind it shifts stocks between size bands in two half steps instead of one jump, which holds turnover down. Trading since 2004.

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.

VB The fund seeks to track the CRSP US Small Cap Index, which measures the investment performance of small U.S. companies. It uses an indexing approach and generally replicates the index by holding its securities in approximately their index weights.

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.

VB Three basis points a year, against a small-cap category median near 0.25%. Cost is the one edge in indexing you actually keep.
About 1,400 stocks held at roughly their index weights, so no single small-cap story carries the fund.vanguard.com
Its CRSP benchmark migrates a stock between size segments in two 50% packets instead of one move, a design built to cut turnover.crsp.com
Running since 2004, actively traded, and one of the strongest implementations in its 20-fund small-cap peer group.

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.

VB Small companies move harder in both directions than large-cap benchmarks, and this is full, unhedged exposure to that.
Benchmarks disagree on where small cap starts. VB follows CRSP, while IWM and VTWO track the Russell 2000, so holdings and results can drift apart.
US companies only, and distributions land quarterly rather than monthly.

Full FNDA profile⁠

Full VB profile⁠

FNDA vs VB Holdings

How FNDA and VB differ

Overlap by weight

34.9%

Shared holdings make up 81.8% of FNDA and 40.3% of VB.

Level by level

Holdings622 in both34.9%
Sector11 Sectors89.1%
Countryby domicile99.5%
Asset classStocks100%

Sector

Sector weights in FNDA and VB, widest gap first
Sector	Gap	FNDA	VB
Health Care	VB +5.2 points	9.1%	14.3%
Technology	VB +4.7 points	13.8%	18.5%
Financials	FNDA +4.3 points	16.6%	12.4%
Real Estate	FNDA +2.3 points	9.9%	7.6%
Consumer Discretionary	FNDA +2.2 points	13.6%	11.4%
Communication	FNDA +0.8 points	3.8%	3.0%
Consumer Staples	FNDA +0.6 points	4.0%	3.4%
Energy	FNDA +0.6 points	4.8%	4.3%
Utilities	VB +0.4 points	2.8%	3.2%
Materials	VB +0.3 points	4.1%	4.4%
Industrials	VB +0.1 points	17.4%	17.5%

Country, concentration and asset class

Country by domicile

Country weights in FNDA and VB, widest gap first
Country	More in FNDAMore in VB	Gap	FNDA	VB
United States		VB +0.5 points	99.5%	100.0%
Other countries (6)		FNDA +0.5 points	0.5%	0.0%

Concentration

Weight in the 10 largest Holdings

FNDA3.9%
VB5.9%

Securities held

FNDA904
VB1,301

Asset class

FNDA: Stocks
VB: Stocks

Holdings

Only in FNDA282
In both622
Only in VB679

Only in FNDA

282 securities, 18.2% of FNDA by weight

Royalty Pharma PLC Class A0.37%
Veeva Systems Class A0.36%
Verisign0.31%
Doordash Class A0.28%
Cracker Barrel Old Country Store I0.28%
Par Pacific Holdings0.28%
Dexcom Inc0.27%
United Airlines Holdings0.27%
Southern Copper Corp0.24%
Applovin Class A0.21%
Heico0.21%
Moog Inc Class A0.21%
Agilon Health0.21%
Coherent0.20%
Coinbase Global Class A0.20%
Scorpio Tankers0.19%
Lumentum Holdings0.19%
Comfort Systems Usa0.17%
Helen of Troy Ltd0.17%
Globant0.17%
Kosmos Energy0.17%
Patrick Industries0.16%
Enova International0.16%
Crowdstrike Holdings Class A0.15%
Gulfport Energy0.15%
Tradeweb Markets Inc Class A0.15%
Gold Inc0.14%
Fair Isaac0.14%
Talos Energy0.14%
Nabors Industries0.13%
Ryerson Holding0.13%
Tutor Perini0.13%
Interactive Brokers Group Inc Clas0.13%
Palantir Technologies Class A0.12%
Bloomin Brands Inc0.12%
Dorian Lpg0.12%
Globalfoundries0.11%
Marinemax Inc0.11%
Winnebago Industries0.11%
V2X0.11%
Century Communities Inc0.11%
Nomad Foods0.10%
Dauch Corp0.10%
Snowflake0.10%
Dht Holdings0.10%
Live Nation Entertainment0.10%
Green Plains0.10%
Ingles Markets Class A0.10%
Livanova PLC0.10%
Customers Bancorp0.10%

Only in VB

679 securities, 59.6% of VB by weight

SLCMT11421.31%
Natera Inc0.72%
Revolution Medicines Inc0.53%
Illumina Inc0.52%
Moderna Inc0.44%
EMCOR Group Inc0.42%
Credo Technology Group Holding Ltd0.42%
Jabil Inc0.38%
Williams-Sonoma Inc0.34%
TechnipFMC PLC0.34%
Atmos Energy Corp0.33%
nVent Electric PLC0.33%
F5 Inc0.32%
United Therapeutics Corp0.29%
Smurfit Westrock PLC0.29%
Tapestry Inc0.29%
Guardant Health Inc0.29%
Casey's General Stores Inc0.28%
Tenet Healthcare Corp0.26%
Viatris Inc0.26%
Flex Ltd0.26%
Omnicom Group Inc0.26%
NRG Energy Inc0.25%
US Foods Holding Corp0.25%
Reliance Inc0.25%
Expand Energy Corp0.25%
NiSource Inc0.24%
Affirm Holdings Inc0.23%
Roivant Sciences Ltd0.23%
TD SYNNEX Corp0.23%
Nutanix Inc0.23%
ITT Inc0.23%
Best Buy Co Inc0.22%
Zebra Technologies Corp0.22%
DuPont de Nemours Inc0.22%
WESCO International Inc0.22%
Rubrik Inc0.22%
CF Industries Holdings Inc0.22%
Nordson Corp0.22%
Genuine Parts Co0.22%
Essex Property Trust Inc0.22%
Evergy Inc0.22%
Revvity Inc0.22%
East West Bancorp Inc0.21%
Zimmer Biomet Holdings Inc0.21%
JB Hunt Transport Services Inc0.21%
IDEX Corp0.21%
Burlington Stores Inc0.21%
SiTime Corp0.21%
Fortive Corp0.21%

Weight gaps

The 100 widest of 622 Holdings in both funds.

Holding weights in FNDA and VB, widest gap first
Holding	Gap	FNDA	VB
Victoria’s SecretVSXY	FNDA +0.39 points	0.48%	0.09%
Everpure Inc Class AP	VB +0.38 points	0.14%	0.52%
Abercrombie and Fitch Class AANF	FNDA +0.37 points	0.45%	0.08%
Acadia Healthcare CompanyACHC	FNDA +0.37 points	0.40%	0.03%
Compass Inc Class ACOMP	FNDA +0.28 points	0.37%	0.09%
Twilio Class ATWLO	VB +0.28 points	0.29%	0.57%
Okta Class AOKTA	VB +0.27 points	0.17%	0.44%
Factset Research SystemsFDS	FNDA +0.27 points	0.39%	0.12%
Americold Realty Inc TrustCOLD	FNDA +0.27 points	0.32%	0.05%
EtsyETSY	FNDA +0.27 points	0.35%	0.08%
Fti ConsultingFCN	FNDA +0.26 points	0.31%	0.05%
Park Hotels Resorts IncPK	FNDA +0.25 points	0.29%	0.04%
H&R Block IncHRB	FNDA +0.26 points	0.32%	0.06%
Crescent Energy Class ACRGY	FNDA +0.24 points	0.29%	0.05%
ChemedCHE	FNDA +0.24 points	0.32%	0.08%
Black Hills CorpBKH	FNDA +0.23 points	0.30%	0.07%
Rxo IncRXO	FNDA +0.23 points	0.27%	0.04%
Urban OutfittersURBN	FNDA +0.23 points	0.29%	0.06%
WexWEX	FNDA +0.23 points	0.30%	0.07%
Dropbox Inc Class ADBX	FNDA +0.23 points	0.29%	0.06%
ArcbestARCB	FNDA +0.21 points	0.25%	0.04%
Travel LeisureTNL	FNDA +0.21 points	0.26%	0.05%
ValvolineVVV	FNDA +0.21 points	0.26%	0.05%
Macom Technology SolutionsMTSI	VB +0.21 points	0.05%	0.26%
Bio Rad Laboratories Class ABIO	FNDA +0.21 points	0.30%	0.09%
Sofi TechnologiesSOFI	VB +0.21 points	0.05%	0.26%
Option Care Health IncOPCH	FNDA +0.21 points	0.25%	0.04%
Gamestop Class AGME	FNDA +0.20 points	0.33%	0.13%
Incyte CorpINCY	VB +0.20 points	0.06%	0.26%
TerexTEX	FNDA +0.20 points	0.27%	0.07%
Delek Us Holdings IncDK	FNDA +0.20 points	0.26%	0.06%
Healthcare Realty Trust Inc ClassHR	FNDA +0.20 points	0.28%	0.08%
SemtechSMTC	VB +0.20 points	0.01%	0.21%
Kilroy Realty ReitKRC	FNDA +0.19 points	0.24%	0.05%
Under Armour Inc Class AUAA	FNDA +0.20 points	0.21%	0.01%
Bank OzkOZK	FNDA +0.20 points	0.26%	0.06%
Concentra Group Holdings Parent InCON	FNDA +0.20 points	0.25%	0.05%
Hanover Insurance GroupTHG	FNDA +0.20 points	0.28%	0.08%
VontierVNT	FNDA +0.20 points	0.25%	0.05%
Fortrea Holdings IncFTRE	FNDA +0.19 points	0.20%	0.01%
Geo GroupGEO	FNDA +0.19 points	0.24%	0.05%
Wyndham Hotels ResortsWH	FNDA +0.19 points	0.25%	0.06%
Rayonier ReitRYN	FNDA +0.18 points	0.25%	0.07%
Cal Maine FoodsCALM	FNDA +0.18 points	0.22%	0.04%
Euronet WorldwideEEFT	FNDA +0.18 points	0.21%	0.03%
Exelixis IncEXEL	FNDA +0.18 points	0.35%	0.17%
Match Group IncMTCH	FNDA +0.18 points	0.30%	0.12%
Cavco IndustriesCVCO	FNDA +0.18 points	0.21%	0.03%
Core & Main Inc Class ACNM	FNDA +0.18 points	0.28%	0.10%
Columbia SportswearCOLM	FNDA +0.18 points	0.19%	0.01%
Sl Green Realty Reit CorpSLG	FNDA +0.18 points	0.22%	0.04%
TrexTREX	FNDA +0.17 points	0.23%	0.06%
Northern Oil and GasNOG	FNDA +0.17 points	0.20%	0.03%
Siteone Landscape Supply IncSITE	FNDA +0.17 points	0.22%	0.05%
International SeawaysINSW	FNDA +0.18 points	0.21%	0.03%
Envista HoldingsNVST	FNDA +0.17 points	0.22%	0.05%
Tetra TechTTEK	FNDA +0.17 points	0.28%	0.11%
Apple Hospitality Reit IncAPLE	FNDA +0.17 points	0.21%	0.04%
RalliantRAL	FNDA +0.17 points	0.27%	0.10%
Weatherford International PLCWFRD	FNDA +0.17 points	0.24%	0.07%
Valley NationalVLY	FNDA +0.16 points	0.24%	0.07%
Core Natural ResourcesCNR	FNDA +0.17 points	0.22%	0.05%
Silgan HoldingsSLGN	FNDA +0.16 points	0.20%	0.04%
Federated Hermes Inc Class BFHI	FNDA +0.17 points	0.22%	0.05%
Brixmor Property Group Reit IncBRX	FNDA +0.16 points	0.27%	0.11%
RhRH	FNDA +0.17 points	0.19%	0.02%
Cousins Properties Reit IncCUZ	FNDA +0.16 points	0.22%	0.06%
VestisVSTS	FNDA +0.16 points	0.17%	<0.01%
Western AllianceWAL	FNDA +0.16 points	0.26%	0.10%
FlowserveFLS	FNDA +0.16 points	0.28%	0.12%
Virtu Financial Inc Class AVIRT	FNDA +0.16 points	0.22%	0.06%
Selective Insurance GroupSIGI	FNDA +0.16 points	0.22%	0.06%
Champion Homes IncSKY	FNDA +0.15 points	0.21%	0.06%
Iridium CommunicationsIRDM	FNDA +0.16 points	0.21%	0.05%
Permian Resources Class APR	VB +0.15 points	0.06%	0.21%
WendysWEN	FNDA +0.16 points	0.17%	0.01%
Hilton Grand VacationsHGV	FNDA +0.15 points	0.18%	0.03%
Prosperity BancsharesPB	FNDA +0.15 points	0.25%	0.10%
Avient CorpAVNT	FNDA +0.15 points	0.20%	0.05%
Cubesmart ReitCUBE	FNDA +0.15 points	0.26%	0.11%
Warrior Met Coal IncHCC	FNDA +0.15 points	0.21%	0.06%
Federal Realty Investment Trust ReFRT	FNDA +0.15 points	0.27%	0.12%
InsperityNSP	FNDA +0.15 points	0.17%	0.02%
Radian GroupRDN	FNDA +0.15 points	0.20%	0.05%
Coeur MiningCDE	VB +0.15 points	0.06%	0.21%
Callaway Golf CompanyCALY	FNDA +0.15 points	0.17%	0.02%
Rivian Automotive Class ARIVN	VB +0.14 points	0.06%	0.20%
Steven MaddenSHOO	FNDA +0.15 points	0.19%	0.04%
Magnolia Oil Gas Corp Class AMGY	FNDA +0.15 points	0.22%	0.07%
Haemonetics CorpHAE	FNDA +0.15 points	0.21%	0.06%
Simpson ManufacturingSSD	FNDA +0.14 points	0.23%	0.09%
Exlservice HoldingsEXLS	FNDA +0.15 points	0.21%	0.06%
Fnb CorpFNB	FNDA +0.14 points	0.22%	0.08%
Ziff Davis IncZD	FNDA +0.15 points	0.17%	0.02%
Credit Acceptance CorpCACC	FNDA +0.14 points	0.17%	0.03%
Grocery Outlet HoldingGO	FNDA +0.14 points	0.15%	0.01%
Txnm Energy IncTXNM	FNDA +0.14 points	0.22%	0.08%
Werner EnterprisesWERN	FNDA +0.14 points	0.17%	0.03%
Kirby CorpKEX	FNDA +0.14 points	0.23%	0.09%
Floor Decor Holdings Class AFND	FNDA +0.14 points	0.20%	0.06%

All 908 FNDA holdings⁠All 1,301 VB 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 VB Cost

Overpaying FNDA vs VB

$4,521

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

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

Amount$10,000

Years30 years

Cost over time

FNDA 0.25%
VB 0.03%
Overpaying

Year by year

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

Expense ratio

0.25%FNDA
0.03%VB, cheaper

VB0.03%FNDA0.25%

0.03%0.60%

Middle half of US Small-Cap funds
Median 0.20%

VB cheapest of 16 funds

FNDA 10th cheapest of 16 funds

FNDA vs VB Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FNDA 1.21%; VB 1.24%, better
Payout (12M): FNDA $0.44; VB $3.65
Last payment: FNDA $0.13; VB $0.85
Ex-dividend: FNDA Sep 23, 2026; VB Sep 28, 2026
Paid on: FNDA Sep 28, 2026; VB Sep 30, 2026
Frequency: FNDA Quarterly; VB Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FNDAQuarterly · 36 paymentsAll FNDA payments⁠

VBQuarterly · 40 paymentsAll VB payments⁠

FNDA vs VB Risk

Fall from peak · 5 years

FNDA
VB

Risk facts

VolatilityStd dev, 3 years: FNDA 17.6%VB 16.4%, better
Return per unit of riskSharpe ratio, 3 years: FNDA 0.77VB 0.89, better
Worst fallMax drawdown, 5 years: FNDA −25.9%, betterVB −28.0%
Market sensitivityBeta, 5 years: FNDA 1.06VB 1.07; Market = 1

FNDA and VB 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, 2026VB
Head-to-Head
Hold VB over IWM for a small-cap stake
Oct 30, 2026VB
Best ETFs
Schwab and Vanguard charge the same 0.03%. Their small-cap funds are 3.7 percentage points apart
Updated Oct 2, 2026VB
ETF Filings
Vanguard files for a U.S. small-mid cap active ETF after last year’s three reached $161 million
Sep 21, 2026VB

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FNDA vs VB

In short

Stated mandate

Why people hold it