FNDF vs SCHF: Grades, Fees and Holdings Compared

Schwab Fundamental International Large Company Index ETF

FNDFBNYSE Arca

Schwab International Equity ETF

SCHFANYSE Arca

Overlap

66.5%by weight

Expense ratio

SCHF −0.22pt a year

FNDF0.25%SCHF0.03%

Avg volume · 30D

SCHF 5.1×the volume

FNDF1.67MSCHF8.48M

10Y return · a year

FNDF +1.5pt

FNDF+11.5%SCHF+10.0%

FNDF vs SCHF Performance

Nov 9, 2021 – Nov 9, 2026

+89.2%FNDF+56.5%SCHF

Expense ratio: FNDF 0.25%; SCHF 0.03%, better
Fund size: FNDF $25.2B; SCHF $65.8B
1Y total return: FNDF +27.1%, better; SCHF +18.7%
Yield (12M): FNDF 3.03%; SCHF 3.10%, better
Holdings: FNDF 901; SCHF 1436
Avg volume (30D): FNDF 1.67M sh; SCHF 8.48M sh, better
NAV per share: FNDF $52.62; SCHF $26.30
52W range

ETF.net Grade

Pillar letters and Scores for FNDF, SCHF, with each pillar’s weight
Pillar	FNDF	SCHF
Cost30% weight	F23	A90Higher
Mission25% weight	A100	A100
Risk15% weight	B61Higher	C48
Tradability15% weight	C48	B63Higher
Holdings10% weight	B61	A78Higher
Durability5% weight	B68	A71Higher

Rank among Developed International Core funds

How we build Categories ›

Same Category. FNDF and SCHF are both graded against the same 20 Developed International Core funds, so their Grades compare head to head.

Developed International Core⁠

Category · 20 funds

See all 20 ›

SCHF ranks 4th and FNDF 13th of 20 funds in the Developed International Core Category.

Rank 1AIDEViShares Core MSCI International Developed Markets ETFScore 82
Rank 2ASPDWState Street SPDR Portfolio Developed World ex-US ETFScore 81
Rank 3AVEAVanguard FTSE Developed Markets ETFScore 80
Rank 4ASCHFSchwab International Equity ETFScore 79
Rank 5AIEFAiShares Core MSCI EAFE ETFScore 76
Rank 13BFLEEFranklin FTSE Europe ETFScore 57
Rank 13BFNDFSchwab Fundamental International Large Company Index ETFScore 57
Rank 15CGSIDGoldman Sachs MarketBeta International Equity ETFScore 53

Our read on each fund

ETF.net Research

FNDFBSchwab Fundamental International Large Company Index ETF

SCHFASchwab International Equity ETF

In short

FNDF Most developed-international index funds rank companies by market price. FNDF ranks them by fundamental business size and rebalances back to it, a contrarian, value-leaning route through roughly 900 of the same stocks.

SCHF Schwab's core answer to "everything outside the US": roughly 1,500 developed-market stocks for 0.03% a year, the floor for this category. Running since 2009 and one of the most heavily traded funds in its niche.

Stated mandate

FNDF The fund seeks to track, before fees and expenses, an index representing large companies from developed markets outside the United States, weighted according to fundamental size.

SCHF The fund seeks to track the total return of the FTSE Developed ex US Index as closely as possible before fees and expenses.

Why people hold it

FNDF Weights companies by fundamental size rather than share price, so each rebalance trims what the market has bid up and tops up what it has marked down.schwabassetmanagement.com
Roughly 900 large companies from developed markets outside the US, so the value tilt arrives with broad diversification instead of a narrow bet.
Running since 2013 and now a multi-billion-dollar, actively traded fund, with a tight record of doing exactly what its RAFI index mandate says.

SCHF 0.03% a year is the cheapest tier in developed-international core, matched only by VEA and SPDW.
Tracks the FTSE Developed ex US Index tightly, one of the closest index fits in its peer group.
Roughly 1,500 stocks across Europe, Japan and the rest of the developed world ex-US, in one ticker.
A multi-billion-dollar fund that trades very actively, which helps keep bid-ask costs small. Live since 2009.

Worth knowing

FNDF At 0.25%, it runs above the developed-international median of 0.18% and well above plain cap-weighted rivals VEA, SCHF and SPDW at 0.03%.
Because weights ignore market price, results diverge from cap-weighted developed benchmarks in both directions. The value tilt is the design, not a glitch.schwabassetmanagement.com
Distributions land on an annual or semiannual schedule, so the cash flow is lumpier than a monthly payer.

SCHF No currency hedge. The index holds foreign shares in dollars, so exchange-rate swings feed into your return alongside the stocks.
Developed markets only: no US names, and no emerging markets such as China, India or Brazil.
Weighted by market value, so Europe's and Japan's largest companies dominate the top of the book despite the wide holdings list.

Full FNDF profile⁠

Full SCHF profile⁠

FNDF vs SCHF Holdings

How FNDF and SCHF differ

Overlap by weight

66.5%

Shared holdings make up 95.8% of FNDF and 87.7% of SCHF.

Level by level

Holdings767 in both66.5%
Sector11 Sectors83.4%
Countryby domicile89.4%
Asset classStocks100%

Sector

Sector weights in FNDF and SCHF, widest gap first
Sector	Gap	FNDF	SCHF
Financials	SCHF +7.0 points	18.9%	25.9%
Energy	FNDF +6.6 points	11.8%	5.2%
Technology	SCHF +5.6 points	8.5%	14.1%
Consumer Discretionary	FNDF +3.5 points	10.9%	7.4%
Materials	FNDF +2.7 points	9.8%	7.1%
Consumer Staples	FNDF +1.8 points	8.2%	6.4%
Communication	FNDF +1.6 points	5.2%	3.6%
Health Care	SCHF +1.5 points	6.5%	8.0%
Industrials	SCHF +1.4 points	15.5%	16.9%
Real Estate	SCHF +1.0 points	1.0%	2.0%
Utilities	FNDF +0.3 points	3.8%	3.5%

Country, concentration and asset class

Country by domicile

Country weights in FNDF and SCHF, widest gap first
Country	Gap	FNDF	SCHF
United Kingdom	FNDF +3.6 points	14.7%	11.1%
Switzerland	SCHF +2.4 points	5.3%	7.7%
Japan	FNDF +2.3 points	23.4%	21.1%
France	FNDF +2.0 points	8.6%	6.6%
Canada	SCHF +1.7 points	9.3%	11.0%
Netherlands	SCHF +1.4 points	2.5%	3.9%
South Korea	SCHF +1.2 points	6.8%	8.0%
Germany	FNDF +1.2 points	8.0%	6.8%
Other countries (22)	SCHF +2.3 points	21.4%	23.7%

Outside the US: FNDF 92% developed, 8% emerging. SCHF 90% developed, 10% emerging.

Concentration

Weight in the 10 largest Holdings

FNDF14.2%
SCHF13.3%

Securities held

FNDF886
SCHF1,421

Asset class

FNDF: Stocks
SCHF: Stocks

Holdings

Only in FNDF119
In both767
Only in SCHF654

Only in FNDF

119 securities, 4.1% of FNDF by weight

Nxp Semiconductors NV0.15%
Teva Pharmaceutical Industries0.14%
Medtronic PLC0.13%
Zim Integrated Shipping Services L0.13%
Wpp PLC0.11%
Autoliv0.08%
Garmin0.08%
Coca Cola Europacific Partners PLC0.08%
Thyssenkrupp AG0.08%
Persimmon PLC0.07%
Teleperformance0.07%
B&M European Value Retail PLC0.07%
Voestalpine AG0.07%
Biontech SE Adr0.06%
Umicore SA0.06%
Ccl Industries Class B0.06%
Signify0.06%
K+s N AG0.05%
Lululemon Athletica0.05%
Acerinox0.05%
Husqvarna Class B0.05%
Empire Class A0.05%
Johnson Matthey PLC0.05%
Linamar0.05%
Bausch Health Companies0.05%
Rogers Communications Non-Voting I0.05%
Aumovio N0.05%
Smurfit Westrock PLC0.04%
Arkema SA0.04%
Adecco Group AG0.04%
Outokumpu0.04%
Drax Group PLC0.04%
Rubis0.04%
Millicom International Cellular0.04%
Aurubis AG0.04%
Puma0.04%
Anglogold Ashanti PLC0.04%
Check Point Software Technologies0.04%
West Fraser Timber0.04%
Investec PLC0.04%
Berkeley Group Holdings (The)0.04%
Freenet AG0.04%
Atco Class I0.04%
Seb SA0.04%
B2GOLD0.03%
Iss0.03%
Jbs N V NV Class A0.03%
Ams-Osram AG0.03%
Methanex0.03%
Aalberts0.03%

Only in SCHF

654 securities, 12.2% of SCHF by weight

Investor Class B0.27%
Argenx0.20%
Teva Pharmaceutical Industries0.17%
Sk Square0.17%
Galderma Group N AG0.15%
Cameco0.11%
Ferrovial NV0.10%
Adyen0.09%
Celestica0.09%
Intercontinental Hotels Group PLC0.09%
Banca Monte Dei Paschi Di Siena Sp0.09%
Celltrion0.09%
Oriental Land0.09%
Coca Cola Europacific Partners PLC0.08%
Boc Hong Kong Holdings Ltd0.08%
Investor Class A0.08%
Asics0.07%
Helvetia Baloise Holding N AG0.07%
Bombardier Class B0.07%
Brookfield Asset Management Voting0.07%
Ibiden Ltd0.07%
Saab Class B0.07%
Elbit Systems0.07%
Lenovo Group0.06%
Evolution Mining0.06%
Rb Global0.06%
Pan American Silver0.06%
Vat Group AG0.06%
Euronext NV0.06%
Halma PLC0.06%
Segro Reit PLC0.06%
Tower Semiconductor0.06%
Konami Group0.06%
Gfl Environmental Subordinate Voti0.06%
Hanwha Aerospace Ltd0.06%
Lasertec0.06%
Allegro SA0.06%
Eqt0.05%
Finecobank Banca Fineco0.05%
Fisher and Paykel Healthcare Corpo0.05%
National Bank of Greece0.05%
Kongsberg Gruppen0.05%
Samsung Life Ltd0.05%
Straumann Holding AG0.05%
Alamos Gold Class A0.05%
Japan Exchange Group0.05%
Samsung Biologics0.05%
Singapore Exchange0.05%
Swiss Prime Site AG0.05%
Diploma PLC0.04%

Weight gaps

The 100 widest of 767 Holdings in both funds.

Holding weights in FNDF and SCHF, widest gap first
Holding	Gap	FNDF	SCHF
ShellSHEL.L	FNDF +1.89 points	2.93%	1.04%
Asml Holding	SCHF +1.66 points	0.31%	1.97%
Sk Hynix	SCHF +1.35 points	0.36%	1.71%
Totalenergies	FNDF +1.19 points	1.82%	0.63%
Bp PLC	FNDF +0.79 points	1.21%	0.42%
Glencore PLCGLEN.L	FNDF +0.62 points	0.86%	0.24%
Shopify Subordinate Voting Class A	SCHF +0.61 points	0.04%	0.65%
Astrazeneca PLCAZN.L	SCHF +0.47 points	0.52%	0.99%
Equinor	FNDF +0.47 points	0.56%	0.09%
Royal Bank of Canada	SCHF +0.47 points	0.54%	1.01%
Rolls-Royce Holdings PLCRR.L	SCHF +0.46 points	0.04%	0.50%
Honda Motor	FNDF +0.44 points	0.58%	0.15%
Toyota Motor	FNDF +0.43 points	1.22%	0.79%
Volkswagen Non-Voting Pref AG	FNDF +0.42 points	0.48%	0.06%
Mitsubishi Ufj Financial Group	SCHF +0.42 points	0.37%	0.79%
Sap	SCHF +0.41 points	0.41%	0.82%
Advantest	SCHF +0.41 points	0.05%	0.46%
Vodafone Group PLCVOD.L	FNDF +0.41 points	0.51%	0.10%
Bayer AG	FNDF +0.40 points	0.62%	0.22%
Commonwealth Bank of Australia	SCHF +0.38 points	0.30%	0.68%
Bmw	FNDF +0.37 points	0.45%	0.08%
Eni	FNDF +0.37 points	0.55%	0.18%
Novartis AG	SCHF +0.35 points	0.73%	1.08%
Basf N	FNDF +0.35 points	0.54%	0.19%
Bhp Group Ltd	FNDF +0.33 points	1.05%	0.72%
Repsol	FNDF +0.32 points	0.45%	0.13%
Siemens N AG	SCHF +0.31 points	0.45%	0.76%
Safran SA	SCHF +0.32 points	0.09%	0.41%
Siemens Energy N AG	SCHF +0.31 points	0.04%	0.35%
Abb Ltd	SCHF +0.29 points	0.16%	0.45%
Rio TintoRIO.L	FNDF +0.27 points	0.58%	0.31%
Nestle SA	SCHF +0.27 points	0.69%	0.96%
Ubs Group AG	SCHF +0.27 points	0.26%	0.53%
Airbus	SCHF +0.27 points	0.19%	0.46%
Lvmh	SCHF +0.26 points	0.14%	0.40%
Dhl N AG	FNDF +0.26 points	0.47%	0.21%
Deutsche Telekom N AG	FNDF +0.26 points	0.61%	0.35%
Agnico Eagle Mines	SCHF +0.25 points	0.10%	0.35%
Stellantis	FNDF +0.26 points	0.29%	0.03%
Suncor Energy Inc	FNDF +0.25 points	0.54%	0.29%
Schneider Electric	SCHF +0.25 points	0.27%	0.52%
British American TobaccoBATS.L	FNDF +0.24 points	0.68%	0.44%
Tokyo Electron	SCHF +0.23 points	0.18%	0.41%
Ntt	FNDF +0.22 points	0.32%	0.10%
Mitsubishi	FNDF +0.23 points	0.58%	0.35%
Compagnie Financiere Richemont SA	SCHF +0.22 points	0.17%	0.39%
Koninklijke Ahold Delhaize	FNDF +0.22 points	0.34%	0.12%
Tesco PLCTSCO.L	FNDF +0.22 points	0.38%	0.16%
Nutrien Ltd	FNDF +0.22 points	0.34%	0.12%
Novo Nordisk Class B	SCHF +0.22 points	0.24%	0.46%
Fast Retailing	SCHF +0.22 points	0.10%	0.32%
Takeda Pharmaceutical	FNDF +0.21 points	0.45%	0.24%
Posco Holdings	FNDF +0.20 points	0.25%	0.05%
Kioxia Holdings	SCHF +0.20 points	0.02%	0.22%
Keyence	SCHF +0.20 points	0.09%	0.29%
Toronto Dominion	SCHF +0.20 points	0.52%	0.72%
Mercedes-Benz Group N AG	FNDF +0.19 points	0.32%	0.13%
Dbs Group Holdings Ltd	SCHF +0.19 points	0.20%	0.39%
Wheaton Precious Metals	SCHF +0.19 points	0.03%	0.22%
Iberdrola	SCHF +0.19 points	0.41%	0.60%
Renault SA	FNDF +0.19 points	0.21%	0.02%
Panasonic Holdings	FNDF +0.18 points	0.34%	0.16%
Arcelormittal SA	FNDF +0.19 points	0.28%	0.09%
Bnp Paribas SA	FNDF +0.18 points	0.54%	0.36%
Cenovus Energy	FNDF +0.18 points	0.31%	0.13%
Mizuho Financial Group	SCHF +0.17 points	0.21%	0.38%
Magna International	FNDF +0.16 points	0.22%	0.06%
A P Moller Maersk Class A	FNDF +0.16 points	0.19%	0.03%
Carrefour SA	FNDF +0.17 points	0.20%	0.03%
Nippon Steel	FNDF +0.16 points	0.23%	0.07%
Recruit Holdings	SCHF +0.15 points	0.36%	0.51%
Bt Group PLC	FNDF +0.16 points	0.22%	0.06%
Canadian Natural Resources Ltd	FNDF +0.16 points	0.51%	0.35%
Orange SA	FNDF +0.15 points	0.28%	0.13%
Softbank Group Corp	SCHF +0.15 points	0.15%	0.30%
A P Moller Maersk Class B	FNDF +0.15 points	0.18%	0.03%
Unicredit	SCHF +0.15 points	0.28%	0.43%
Seven & I Holdings	FNDF +0.15 points	0.25%	0.10%
Brookfield Class A	SCHF +0.15 points	0.16%	0.31%
Bank of Montreal	SCHF +0.15 points	0.28%	0.43%
Franco Nevada	SCHF +0.15 points	0.03%	0.18%
Canadian Pacific Kansas City	SCHF +0.14 points	0.15%	0.29%
Hong Kong Exchanges and Clearing	SCHF +0.15 points	0.06%	0.21%
Sumitomo Mitsui Financial Group	SCHF +0.15 points	0.34%	0.49%
Bce Inc	FNDF +0.15 points	0.17%	0.02%
Lg Electronics Inc	FNDF +0.14 points	0.18%	0.04%
Anglo American PLCAAL.L	FNDF +0.15 points	0.34%	0.19%
Societe Generale SA	FNDF +0.14 points	0.31%	0.17%
Loreal SA	SCHF +0.14 points	0.27%	0.41%
Kddi	FNDF +0.14 points	0.32%	0.18%
Roche Ps Par AG	SCHF +0.14 points	1.05%	1.19%
Mitsui	FNDF +0.13 points	0.39%	0.26%
Deutsche Boerse AG	SCHF +0.13 points	0.10%	0.23%
Michelin	FNDF +0.13 points	0.21%	0.08%
Banco Santander	FNDF +0.13 points	0.74%	0.61%
Constellation Software	SCHF +0.13 points	0.05%	0.18%
Nippon Yusen	FNDF +0.13 points	0.19%	0.06%
Bridgestone	FNDF +0.12 points	0.22%	0.10%
Canadian Imperial Bank of Commerce	SCHF +0.12 points	0.26%	0.38%
Goodman Group Units	SCHF +0.12 points	0.02%	0.14%

All 904 FNDF holdings⁠All 1,442 SCHF 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.

FNDF vs SCHF Cost

Overpaying FNDF vs SCHF

$4,521

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

FNDF 0.25%
$5,159
SCHF 0.03%
$638

Amount$10,000

Years30 years

Cost over time

FNDF 0.25%
SCHF 0.03%
Overpaying

Year by year

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

Expense ratio

0.25%FNDF
0.03%SCHF, cheaper

SCHF0.03%FNDF0.25%

0.03%0.70%

Middle half of Developed International Core funds
Median 0.10%

SCHF cheapest of 20 funds

FNDF 15th cheapest of 20 funds

FNDF vs SCHF Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FNDF 3.03%; SCHF 3.10%, better
Payout (12M): FNDF $1.64; SCHF $0.84
Last payment: FNDF $0.30; SCHF $0.17
Ex-dividend: FNDF Jun 24, 2026; SCHF Jun 24, 2026
Paid on: FNDF Jun 29, 2026; SCHF Jun 29, 2026
Frequency: FNDF Twice a year; SCHF Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

FNDFTwice a year · 18 paymentsAll FNDF payments⁠

SCHFTwice a year · 18 paymentsAll SCHF payments⁠

FNDF vs SCHF Risk

Fall from peak · 5 years

FNDF
SCHF

Risk facts

VolatilityStd dev, 3 years: FNDF 12.4%, betterSCHF 12.7%
Return per unit of riskSharpe ratio, 3 years: FNDF 1.50, betterSCHF 1.27
Worst fallMax drawdown, 5 years: FNDF −25.6%, betterSCHF −28.6%
Market sensitivityBeta, 5 years: FNDF 0.97SCHF 1.03; Market = 1

FNDF and SCHF in the news

All news⁠

Head-to-Head
VEA over SCHF if this is your only developed-markets fund
Nov 4, 2026SCHF
Best ETFs
Vanguard's total international fund is the one-fund pick, and Korea splits the rest
Updated Oct 2, 2026SCHF

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