FNDA vs VTWO: Grades, Fees and Holdings Compared

Schwab Fundamental U.S. Small Company Index ETF

FNDABNYSE Arca

Vanguard Russell 2000 ETF

VTWOANasdaq

Overlap

39.2%by weight

Expense ratio

VTWO −0.19pt a year

FNDA0.25%VTWO0.06%

Avg volume · 30D

VTWO 1.01×the volume

FNDA1.49MVTWO1.5M

10Y return · a year

FNDA+10.2%VTWO+10.2%

FNDA vs VTWO Performance

Nov 9, 2021 – Nov 9, 2026

+35.9%FNDA+25.6%VTWO

Expense ratio: FNDA 0.25%; VTWO 0.06%, better
Fund size: FNDA $8.78B; VTWO $16.6B
1Y total return: FNDA +20.7%, better; VTWO +18.3%
Yield (12M): FNDA 1.21%, better; VTWO 1.19%
Holdings: FNDA 905; VTWO 2002
Avg volume (30D): FNDA 1.49M sh; VTWO 1.5M sh, better
NAV per share: FNDA $35.50; VTWO $110.58
52W range

ETF.net Grade

Pillar letters and Scores for FNDA, VTWO, with each pillar’s weight
Pillar	FNDA	VTWO
Cost30% weight	D34	A75Higher
Mission25% weight	A79	A100Higher
Risk15% weight	B60Higher	D38
Tradability15% weight	A85Higher	B57
Holdings10% weight	B68	B69Higher
Durability5% weight	B65	A81Higher

Rank among US Small-Cap funds

How we build Categories ›

Same Category. FNDA and VTWO 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 ›

VTWO ranks 3rd 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 4ABKSEBNY Mellon US Small Cap Core Equity ETFScore 71
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

VTWOAVanguard Russell 2000 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.

VTWO The Russell 2000 is the small-cap benchmark every headline quotes. VTWO is Vanguard's cheap seat on it: about 2,000 small US companies for 0.06% a year, a fraction of the fee on the best-known fund tracking the same index.

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.

VTWO The fund invests in stocks in the Russell 2000 Index and seeks to closely track that index's return, representing small-cap U.S. stock exposure.

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.

VTWO Same index, smaller toll. VTWO charges 0.06% while IWM, the other big Russell 2000 tracker, charges 0.19%. The small-cap category median is 0.25%.vanguard.com
Holds roughly 2,000 stocks, the whole small-cap benchmark rather than a trimmed slice. A multi-billion-dollar fund, actively traded, running since 2010 and paying quarterly.
Tracking has been about as tight as this corner of the market gets, one of the closest index-replication records among US small-cap funds.

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.

VTWO Small-cap stocks swing harder than large caps, and this fund stays fully invested in them through the rough stretches.vanguard.com
Cheaper exists on the shelf: VB and SCHA run 0.03%, though they follow different small-cap indexes with different membership rules.
The Russell 2000 rebuilds its membership on a published schedule (June, plus a December rebalance from 2026), which packs index-driven trading into those dates.lseg.com

Full FNDA profile⁠

Full VTWO profile⁠

FNDA vs VTWO Holdings

How FNDA and VTWO differ

Overlap by weight

39.2%

Shared holdings make up 56.4% of FNDA and 47.1% of VTWO.

Level by level

Holdings614 in both39.2%
Sector11 Sectors84.3%
Countryby domicile99.5%
Asset classStocks100%

Sector

Sector weights in FNDA and VTWO, widest gap first
Sector	Gap	FNDA	VTWO
Health Care	VTWO +11.8 points	9.1%	20.9%
Consumer Discretionary	FNDA +5.0 points	13.6%	8.6%
Industrials	FNDA +4.1 points	17.4%	13.3%
Real Estate	FNDA +3.5 points	9.9%	6.4%
Communication	FNDA +1.5 points	3.8%	2.3%
Energy	VTWO +1.5 points	4.8%	6.4%
Consumer Staples	FNDA +1.4 points	4.0%	2.6%
Financials	VTWO +1.3 points	16.6%	18.0%
Technology	VTWO +0.7 points	13.8%	14.5%
Materials	VTWO +0.2 points	4.1%	4.3%
Utilities	FNDA +0.1 points	2.8%	2.7%

Country, concentration and asset class

Country by domicile

Country weights in FNDA and VTWO, widest gap first
Country	More in FNDAMore in VTWO	Gap	FNDA	VTWO
United States		VTWO +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%
VTWO5.4%

Securities held

FNDA904
VTWO2,000

Asset class

FNDA: Stocks
VTWO: Stocks

Holdings

Only in FNDA290
In both614
Only in VTWO1,386

Only in FNDA

290 securities, 43.6% 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%
Americold Realty Inc Trust0.32%
H&R Block Inc0.32%
Verisign0.31%
Fti Consulting0.31%
Bio Rad Laboratories Class A0.30%
Wex0.30%
Match Group Inc0.30%
Twilio Class A0.29%
Dropbox Inc Class A0.29%
Sharkninja0.28%
Doordash Class A0.28%
Hanover Insurance Group0.28%
Core & Main Inc Class A0.28%
Healthcare Realty Trust Inc Class0.28%
Tetra Tech0.28%
Flowserve0.28%
Entegris Inc0.27%
Applied Industrial Technologies0.27%
Brixmor Property Group Reit Inc0.27%
Dexcom Inc0.27%
Federal Realty Investment Trust Re0.27%
Ralliant0.27%
United Airlines Holdings0.27%
Unity Software0.26%
Valvoline0.26%
American Homes Rent Reit Class A0.26%
Travel Leisure0.26%
Western Alliance0.26%
Cubesmart Reit0.26%
Liberty Media Series C0.26%
Bank Ozk0.26%
Five Below0.25%
Southstate Bank Corp0.25%
Rayonier Reit0.25%
Stifel Financial0.25%
Woodward0.25%
Pinnacle Financial Partners0.25%
Wyndham Hotels Resorts0.25%
Saia Inc0.25%
Prosperity Bancshares0.25%
Vontier0.25%
Omega Healthcare Investors Reit0.25%
Kilroy Realty Reit0.24%

Only in VTWO

1,386 securities, 52.7% of VTWO by weight

SLBBH11422.35%
Twist Bioscience Corp0.42%
Moog Inc0.36%
JFrog Ltd0.35%
10X Genomics Inc0.35%
Glaukos Corp0.31%
Cytokinetics Inc0.29%
Hut 8 Corp0.29%
Krystal Biotech Inc0.29%
Protagonist Therapeutics Inc0.28%
Jackson Financial Inc0.28%
SM Energy Co0.27%
TG Therapeutics Inc0.27%
PBF Energy Inc0.25%
Vaxcyte Inc0.25%
Praxis Precision Medicines Inc0.24%
Arcosa Inc0.24%
Riot Platforms Inc0.24%
Zeta Global Holdings Corp0.24%
StoneX Group Inc0.23%
SSR Mining Inc0.23%
Commercial Metals Co0.23%
Kymera Therapeutics Inc0.23%
Spyre Therapeutics Inc0.22%
Fluor Corp0.22%
Matson Inc0.22%
Hims & Hers Health Inc0.21%
Ligand Pharmaceuticals Inc0.21%
D-Wave Quantum Inc0.20%
Iovance Biotherapeutics Inc0.19%
GRAIL Inc0.19%
Rhythm Pharmaceuticals Inc0.18%
Lumen Technologies Inc0.18%
Varonis Systems Inc0.18%
Scholar Rock Holding Corp0.18%
Cipher Digital Inc0.18%
PTC Therapeutics Inc0.18%
Cogent Biosciences Inc0.18%
Xometry Inc0.17%
Portland General Electric Co0.17%
Rigetti Computing Inc0.17%
Travere Therapeutics Inc0.17%
Impinj Inc0.17%
CG oncology Inc0.17%
Argan Inc0.17%
Transocean Ltd0.17%
Murphy Oil Corp0.17%
Core Scientific Inc0.17%
CRISPR Therapeutics AG0.16%
CNO Financial Group Inc0.16%

Weight gaps

The 100 widest of 614 Holdings in both funds.

Holding weights in FNDA and VTWO, widest gap first
Holding	Gap	FNDA	VTWO
Acadia Healthcare CompanyACHC	FNDA +0.31 points	0.40%	0.09%
Victoria’s SecretVSXY	FNDA +0.27 points	0.48%	0.21%
Abercrombie and Fitch Class AANF	FNDA +0.25 points	0.45%	0.20%
Cracker Barrel Old Country Store ICBRL	FNDA +0.24 points	0.28%	0.04%
Caretrust ReitCTRE	VTWO +0.23 points	0.06%	0.29%
Park Hotels Resorts IncPK	FNDA +0.19 points	0.29%	0.10%
Interdigital IncIDCC	VTWO +0.19 points	0.09%	0.28%
Under Armour Inc Class AUAA	FNDA +0.18 points	0.21%	0.03%
Agilon HealthAGL	FNDA +0.18 points	0.21%	0.03%
Brinker International IncEAT	VTWO +0.17 points	0.11%	0.28%
MaxlinearMXL	VTWO +0.17 points	0.09%	0.26%
Crescent Energy Class ACRGY	FNDA +0.17 points	0.29%	0.12%
Oscar Health Class AOSCR	VTWO +0.16 points	0.08%	0.24%
Compass Inc Class ACOMP	FNDA +0.16 points	0.37%	0.21%
Umb FinancialUMBF	VTWO +0.17 points	0.15%	0.32%
Rxo IncRXO	FNDA +0.16 points	0.27%	0.11%
Esco TechnologiesESE	VTWO +0.16 points	0.07%	0.23%
ArcbestARCB	FNDA +0.16 points	0.25%	0.09%
Helen of Troy LtdHELE	FNDA +0.15 points	0.17%	0.02%
Brightspring Health Services IncBTSG	VTWO +0.14 points	0.17%	0.31%
Par Pacific HoldingsPARR	FNDA +0.15 points	0.28%	0.13%
Urban OutfittersURBN	FNDA +0.14 points	0.29%	0.15%
Terreno Realty ReitTRNO	VTWO +0.14 points	0.09%	0.23%
Southwest Gas HoldingsSWX	VTWO +0.14 points	0.06%	0.20%
Fortrea Holdings IncFTRE	FNDA +0.14 points	0.20%	0.06%
Life Time Group HoldingsLTH	VTWO +0.14 points	0.07%	0.21%
Option Care Health IncOPCH	FNDA +0.13 points	0.25%	0.12%
WendysWEN	FNDA +0.14 points	0.17%	0.03%
HealthequityHQY	VTWO +0.13 points	0.11%	0.24%
VestisVSTS	FNDA +0.13 points	0.17%	0.04%
RhRH	FNDA +0.13 points	0.19%	0.06%
EnproNPO	VTWO +0.13 points	0.09%	0.22%
Cal Maine FoodsCALM	FNDA +0.12 points	0.22%	0.10%
Northern Oil and GasNOG	FNDA +0.12 points	0.20%	0.08%
Grocery Outlet HoldingGO	FNDA +0.11 points	0.15%	0.04%
GlobantGLOB	FNDA +0.12 points	0.17%	0.05%
Zurn Elkay Water Solutions CorpZWS	VTWO +0.12 points	0.11%	0.23%
Kosmos EnergyKOS	FNDA +0.12 points	0.17%	0.05%
Coty Class ACOTY	FNDA +0.12 points	0.15%	0.03%
Black Hills CorpBKH	FNDA +0.12 points	0.30%	0.18%
Firstcash Holdings IncFCFS	VTWO +0.12 points	0.16%	0.28%
Essential Properties Realty TrustEPRT	VTWO +0.12 points	0.07%	0.19%
Gold IncGOLD	FNDA +0.11 points	0.14%	0.03%
Concentra Group Holdings Parent InCON	FNDA +0.12 points	0.25%	0.13%
Delek Us Holdings IncDK	FNDA +0.12 points	0.26%	0.14%
InsperityNSP	FNDA +0.11 points	0.17%	0.06%
Hilton Grand VacationsHGV	FNDA +0.11 points	0.18%	0.07%
Construction Partners Class AROAD	VTWO +0.11 points	0.03%	0.14%
Vse CorpVSEC	VTWO +0.11 points	0.04%	0.15%
Ryman Hospitality Properties ReitRHP	VTWO +0.11 points	0.16%	0.27%
Geo GroupGEO	FNDA +0.11 points	0.24%	0.13%
Boston Beer Class ASAM	FNDA +0.11 points	0.15%	0.04%
Golar LngGLNG	VTWO +0.10 points	0.05%	0.15%
Sl Green Realty Reit CorpSLG	FNDA +0.10 points	0.22%	0.12%
Kodiak Gas Services IncKGS	VTWO +0.10 points	0.08%	0.18%
Ziff Davis IncZD	FNDA +0.11 points	0.17%	0.06%
AlkermesALKS	VTWO +0.10 points	0.12%	0.22%
NovantaNOVT	VTWO +0.10 points	0.07%	0.17%
Bloomin Brands IncBLMN	FNDA +0.10 points	0.12%	0.02%
Werner EnterprisesWERN	FNDA +0.10 points	0.17%	0.07%
Ormat Tech IncORA	VTWO +0.10 points	0.09%	0.19%
Ryerson HoldingRYZ	FNDA +0.09 points	0.13%	0.04%
Mercury Systems IncMRCY	VTWO +0.09 points	0.06%	0.15%
Surgery PartnersSGRY	FNDA +0.09 points	0.13%	0.04%
Nabors IndustriesNBR	FNDA +0.09 points	0.13%	0.04%
Apple Hospitality Reit IncAPLE	FNDA +0.09 points	0.21%	0.12%
Eastern Bankshares IncEBC	VTWO +0.09 points	0.06%	0.15%
Encore Capital GroupECPG	FNDA +0.09 points	0.16%	0.07%
Lantheus HoldingsLNTH	VTWO +0.09 points	0.12%	0.21%
Sally Beauty HoldingsSBH	FNDA +0.10 points	0.15%	0.05%
Callaway Golf CompanyCALY	FNDA +0.10 points	0.17%	0.07%
Upbound GroupUPBD	FNDA +0.09 points	0.12%	0.03%
Enovis CorpENOV	FNDA +0.10 points	0.13%	0.03%
RadnetRDNT	VTWO +0.09 points	0.07%	0.16%
Patrick IndustriesPATK	FNDA +0.09 points	0.16%	0.07%
Lci IndustriesLCII	FNDA +0.09 points	0.16%	0.07%
KemperKMPR	FNDA +0.09 points	0.14%	0.05%
Federal Signal CorpFSS	VTWO +0.09 points	0.13%	0.22%
Teladoc Health IncTDOC	FNDA +0.09 points	0.12%	0.03%
Pennymac Financial ServicesPFSI	FNDA +0.09 points	0.15%	0.06%
Energizer HoldingsENR	FNDA +0.09 points	0.13%	0.04%
Winnebago IndustriesWGO	FNDA +0.09 points	0.11%	0.02%
Rlj Lodging Trust ReitRLJ	FNDA +0.09 points	0.14%	0.05%
Old National BancorpONB	VTWO +0.08 points	0.20%	0.28%
Herbalife LtdHLF	FNDA +0.09 points	0.13%	0.04%
Trinet GroupinaryTNET	FNDA +0.08 points	0.14%	0.06%
Csw IndustrialsCSW	VTWO +0.08 points	0.07%	0.15%
United Parks and ResortsPRKS	FNDA +0.08 points	0.10%	0.02%
Edgewell Personal CareEPC	FNDA +0.08 points	0.12%	0.04%
Steven MaddenSHOO	FNDA +0.08 points	0.19%	0.11%
MaterionMTRN	VTWO +0.08 points	0.11%	0.19%
Cvr Energy IncCVI	FNDA +0.08 points	0.13%	0.05%
TeradataTDC	FNDA +0.08 points	0.17%	0.09%
Marinemax IncHZO	FNDA +0.08 points	0.11%	0.03%
Core Natural ResourcesCNR	FNDA +0.08 points	0.22%	0.14%
TerexTEX	FNDA +0.07 points	0.27%	0.20%
Avient CorpAVNT	FNDA +0.08 points	0.20%	0.12%
Casella Waste Systems Class ACWST	VTWO +0.08 points	0.09%	0.17%
Gulfport EnergyGPOR	FNDA +0.07 points	0.15%	0.08%
BalchemBCPC	VTWO +0.08 points	0.10%	0.18%

All 908 FNDA holdings⁠All 2,000 VTWO 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 VTWO Cost

Overpaying FNDA vs VTWO

$3,889

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

FNDA 0.25%
$5,159
VTWO 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

FNDA 0.25%
VTWO 0.06%
Overpaying

Year by year

Year	FNDA	VTWO	Overpaying
10	$455	$110	$345
20	$1,769	$432	$1,337
30	$5,159	$1,270	$3,889

Expense ratio

0.25%FNDA
0.06%VTWO, cheaper

VTWO0.06%FNDA0.25%

0.03%0.60%

Middle half of US Small-Cap funds
Median 0.20%

VTWO 4th cheapest of 16 funds

FNDA 10th cheapest of 16 funds

FNDA vs VTWO Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FNDA 1.21%, better; VTWO 1.19%
Payout (12M): FNDA $0.44; VTWO $1.36
Last payment: FNDA $0.13; VTWO $0.39
Ex-dividend: FNDA Sep 23, 2026; VTWO Sep 23, 2026
Paid on: FNDA Sep 28, 2026; VTWO Sep 25, 2026
Frequency: FNDA Quarterly; VTWO Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FNDAQuarterly · 36 paymentsAll FNDA payments⁠

VTWOQuarterly · 39 paymentsAll VTWO payments⁠

FNDA vs VTWO Risk

Fall from peak · 5 years

FNDA
VTWO

Risk facts

VolatilityStd dev, 3 years: FNDA 17.6%, betterVTWO 19.0%
Return per unit of riskSharpe ratio, 3 years: FNDA 0.77VTWO 0.86, better
Worst fallMax drawdown, 5 years: FNDA −25.9%, betterVTWO −31.5%
Market sensitivityBeta, 5 years: FNDA 1.06VTWO 1.15; Market = 1

FNDA and VTWO 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, 2026VTWO
Head-to-Head
Hold VB over IWM for a small-cap stake
Oct 30, 2026VTWO
New ETFs
Longnook's compounders ETF leads with tankers, Newmont and Exxon Mobil
Oct 5, 2026VTWO
Best ETFs
Schwab and Vanguard charge the same 0.03%. Their small-cap funds are 3.7 percentage points apart
Updated Oct 2, 2026VTWO

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FNDA vs VTWO

In short

Stated mandate

Why people hold it