FNDX vs VONV: Grades, Fees and Holdings Compared

Schwab Fundamental U.S. Large Company ETF

FNDXANYSE Arca

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

67.8%by weight

Expense ratio

VONV −0.19pt a year

FNDX0.25%VONV0.06%

Avg volume · 30D

FNDX 3.9×the volume

FNDX3.03MVONV774K

10Y return · a year

FNDX +2.8pt

FNDX+14.8%VONV+12.0%

FNDX vs VONV Performance

Oct 29, 2021 – Oct 30, 2026

+89.7%FNDX+73.8%VONV

Expense ratio: FNDX 0.25%; VONV 0.06%, better
Fund size: FNDX $28.5B; VONV $23.3B
1Y total return: FNDX +25.0%; VONV +28.5%, better
Yield (12M): FNDX 1.44%; VONV 1.53%, better
Holdings: FNDX 732; VONV 873
Avg volume (30D): FNDX 3.03M sh, better; VONV 774K sh
NAV per share: FNDX $32.71; VONV $113.44
52W range

ETF.net Grade

Pillar letters and Scores for FNDX, VONV, with each pillar’s weight
Pillar	FNDX	VONV
Cost30% weight	B63	A96Higher
Mission25% weight	A91	A100Higher
Risk15% weight	A90Higher	A86
Tradability15% weight	A88Higher	B60
Holdings10% weight	B62Higher	C49
Durability5% weight	A87	A93Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. FNDX and VONV are both graded against the same 99 US Multifactor funds, so their Grades compare head to head.

US Multifactor⁠

Category · 99 funds

See all 99 ›

VONV ranks 1st and FNDX 9th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 5AQUSState Street SPDR MSCI USA StrategicFactors ETFScore 79
Rank 9AFNDXSchwab Fundamental U.S. Large Company ETFScore 78
Rank 9AGVUSGoldman Sachs MarketBeta Russell 1000 Value Equity ETFScore 78

Our read on each fund

ETF.net Research

FNDXASchwab Fundamental U.S. Large Company ETF

VONVAVanguard Russell 1000 Value ETF

In short

FNDX A large-cap fund that refuses to size positions by stock price. FNDX weights about 700 U.S. companies by fundamental measures of business size, tilting toward value and profitability instead of whatever the market just bid up.

VONV The plain-vanilla value trade, done cheap: about 900 large US value stocks, full replication of the Russell 1000 Value Index, 0.06% a year. No factor cocktail, no premium price tag, and one of the strongest implementations in its factor peer group.

Stated mandate

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

VONV The fund seeks to track the Russell 1000 Value Index, representing large-capitalization value stocks in the United States. It uses passive indexing and full replication to remain closely aligned with that benchmark.

Why people hold it

FNDX Weights holdings by fundamental size rather than market cap, so a position grows with the business, not with the crowd. The RAFI screen leans on profitability and value.
At 0.25% a year, it undercuts the typical fund in its multifactor peer group (median 0.32%).
A multi-billion-dollar fund that trades actively, making it one of the easier names in its category to move in and out of. It has tracked its index tightly since launching in 2013.
Fully rules-based and passive: the index does the picking and rebalancing, with no manager discretion in the mix. One of the stronger implementations in its peer group.

VONV 0.06% a year, a fraction of the typical fee among factor ETFs. On a rules-based value index there is little room for cleverness, so cost does most of the work.vanguard.com
Full replication, not sampling: it owns the index's roughly 900 names and has stayed tightly aligned with the Russell 1000 Value benchmark since launching in 2010.
Same Russell benchmark as pricier rivals for less: the Goldman MarketBeta version (GVUS) charges 0.12% to track the identical value index.
A multi-billion-dollar fund that trades actively, among the easiest in its group to get in and out of, and it distributes quarterly.

Worth knowing

FNDX Plain-vanilla alternatives cost far less: VONV runs 0.06% and VYM 0.04%. The fundamental weighting engine is what you pay the extra for.
The value and profitability tilt means the portfolio can look very different from a cap-weighted large-cap index, especially when the largest growth names dominate.
Income arrives quarterly, not monthly, and the mandate targets fundamentals rather than yield.

VONV One screen, one style. Value only, with no quality or momentum overlay, so the ride follows the value side of the market wherever it goes.vanguard.com
This is the entire value bucket, not a best-ideas portfolio. About 900 holdings means results hug the large-cap value category rather than stray from it.
Cheaper exists nearby: Vanguard's VYM charges 0.04%, but it screens for dividend yield, a different portfolio than a Russell value index.

Full FNDX profile⁠

Full VONV profile⁠

FNDX vs VONV Holdings

How FNDX and VONV differ

Overlap by weight

67.8%

Shared holdings make up 93.7% of VONV and 86.9% of FNDX.

Level by level

Holdings577 in both67.8%
Sector11 Sectors89.6%
Countryby domicile99.4%
Asset classEquity100%

Sector

Sector weights in FNDX and VONV, widest gap first
Sector	More in FNDXMore in VONV	FNDX	VONV
Communication	FNDX +4.6 points	8.0%	3.4%
Energy	FNDX +4.4 points	10.6%	6.2%
Financials	VONV +3.2 points	14.7%	17.9%
Technology	VONV +2.6 points	19.3%	21.9%
Real Estate	VONV +1.8 points	1.7%	3.5%
Consumer Discretionary	VONV +1.4 points	9.0%	10.4%
Industrials	VONV +1.2 points	8.3%	9.5%
Consumer Staples	FNDX +0.5 points	7.7%	7.2%
Materials	FNDX +0.5 points	3.8%	3.3%
Health Care	FNDX +0.3 points	13.7%	13.4%
Utilities	VONV +0.3 points	3.1%	3.4%

Country, concentration and asset class

Country by domicile

Country weights in FNDX and VONV, widest gap first
Country	More in FNDXMore in VONV	FNDX	VONV
United States	VONV +0.6 points	99.4%	100.0%
Other countries (7)	FNDX +0.6 points	0.6%	0.0%

Concentration

Weight in the 10 largest Holdings

FNDX22.0%
VONV29.8%

Securities held

FNDX732
VONV871

Asset class

FNDX: Equity
VONV: Equity

Holdings

Only in FNDX155
In both577
Only in VONV294

Only in FNDX

155 securities, 13.1% of FNDX by weight

Alphabet Class A1.41%
Alphabet Class C1.14%
NVIDIA0.71%
Micron Technology0.53%
Visa Class A0.47%
Broadcom Inc0.46%
Lockheed Martin0.40%
Texas Instrument0.38%
Tesla Inc0.35%
Mastercard Class A0.33%
Caterpillar Inc0.32%
Eli Lilly0.31%
Applied Material Inc0.30%
Advanced Micro Devices0.27%
Oracle0.27%
Netflix0.24%
Lam Research0.18%
Ge Aerospace0.15%
Booking Holdings0.13%
Pbf Energy Class A0.13%
Te Connectivity PLC0.12%
Vylor0.11%
Kla0.11%
Amphenol Corp Class A0.09%
Targa Resources0.09%
Seagate Technology Holdings PLC0.08%
Corning0.08%
Cintas0.08%
Microchip Technology Inc0.08%
Simon Property Group Reit Inc0.08%
Cencora0.08%
Marvell Technology0.07%
Vistra0.07%
Kohls0.07%
Jabil0.07%
Intuitive Surgical0.07%
Quanta Services Inc0.06%
Trane Technologies PLC0.06%
Western Digital Corp0.06%
Sm Energy0.06%
Skydance Shs Class B0.06%
Darden Restaurants Inc0.06%
Icon PLC0.05%
Lumen Technologies0.05%
Hilton Worldwide Holdings0.05%
Arista Networks0.05%
Palo Alto Networks0.05%
Ssc Government Mm Gvmxx0.05%
Fortinet0.05%
Chipotle Mexican Grill0.05%

Only in VONV

294 securities, 6.1% of VONV by weight

Warner Bros Discovery Inc0.20%
Strategy Inc0.15%
Garmin Ltd0.13%
Coherent Corp0.12%
Veeva Systems Inc0.12%
Coinbase Global Inc0.11%
Twilio Inc0.10%
Okta Inc0.10%
United Airlines Holdings Inc0.09%
Sunbelt Rentals Holdings Inc0.08%
SLBBH11420.07%
Royalty Pharma PLC0.07%
VeriSign Inc0.06%
Interactive Brokers Group Inc0.06%
Entegris Inc0.06%
Liberty Media Corp0.06%
Royal Gold Inc0.06%
Roivant Sciences Ltd0.05%
Nutanix Inc0.05%
Coeur Mining Inc0.05%
Southwest Airlines Co0.05%
MKS Inc0.04%
BitMine Immersion Technologies Inc0.04%
Medline Inc0.04%
PTC Inc0.04%
RB Global Inc0.04%
Robinhood Markets Inc0.04%
SoFi Technologies Inc0.04%
Unity Software Inc0.04%
API Group Corp0.04%
Circle Internet Group Inc0.04%
GFL Environmental Inc0.04%
Southern Copper Corp0.04%
IonQ Inc0.04%
Omega Healthcare Investors Inc0.04%
Dynatrace Inc0.04%
Pinnacle Financial Partners Inc0.04%
Tyler Technologies Inc0.04%
SharkNinja Inc0.04%
RBC Bearings Inc0.04%
IREN Ltd0.03%
Rivian Automotive Inc0.03%
Onto Innovation Inc0.03%
Applied Industrial Technologies Inc0.03%
Docusign Inc0.03%
DT Midstream Inc0.03%
Nextpower Inc0.03%
BioMarin Pharmaceutical Inc0.03%
Bio-Techne Corp0.03%
Equity LifeStyle Properties Inc0.03%

Weight gaps

The 100 widest of 577 Holdings in both funds.

Holding weights in FNDX and VONV, widest gap first
Holding	More in FNDXMore in VONV	FNDX	VONV
Amazon Com IncAMZN	VONV +4.27 points	1.82%	6.09%
MicrosoftMSFT	VONV +2.06 points	3.18%	5.24%
AppleAAPL	VONV +1.19 points	4.88%	6.07%
JPMorgan ChaseJPM	VONV +0.86 points	1.57%	2.43%
Meta Platforms Class AMETA	FNDX +0.73 points	1.53%	0.80%
Berkshire Hathaway Inc Class BBRK.B	VONV +0.73 points	1.82%	2.55%
Exxonmobil Holdings CorpXOM	FNDX +0.73 points	2.56%	1.84%
Johnson & JohnsonJNJ	VONV +0.72 points	1.03%	1.75%
ChevronCVX	FNDX +0.69 points	1.73%	1.04%
Intel Corporation CorpINTC	VONV +0.66 points	0.85%	1.51%
Marathon PetroleumMPC	FNDX +0.63 points	0.79%	0.16%
Valero Energy CorpVLO	FNDX +0.55 points	0.82%	0.27%
UnitedHealth GroupUNH	FNDX +0.54 points	1.45%	0.91%
Cisco Systems IncCSCO	VONV +0.52 points	0.65%	1.17%
AbbVieABBV	VONV +0.45 points	0.72%	1.17%
Home DepotHD	FNDX +0.43 points	0.63%	0.20%
ConocophillipsCOP	FNDX +0.41 points	0.83%	0.42%
Coca-ColaKO	VONV +0.40 points	0.41%	0.81%
Philip Morris InternationalPM	VONV +0.39 points	0.43%	0.82%
WelltowerWELL	VONV +0.38 points	0.08%	0.46%
PfizerPFE	FNDX +0.36 points	0.81%	0.45%
General MotorsGM	FNDX +0.34 points	0.53%	0.19%
Verizon Communications IncVZ	FNDX +0.33 points	0.86%	0.53%
Cvs HealthCVS	FNDX +0.33 points	0.63%	0.30%
ModernaMRNA	FNDX +0.32 points	0.51%	0.19%
PhillipsPSX	FNDX +0.31 points	0.57%	0.26%
RtxRTX	VONV +0.30 points	0.39%	0.69%
HumanaHUM	FNDX +0.30 points	0.43%	0.13%
Comcast Class ACMCSA	FNDX +0.30 points	0.51%	0.21%
Analog DevicesADI	VONV +0.29 points	0.20%	0.49%
Linde PLCLIN	VONV +0.29 points	0.31%	0.60%
Ford MotorF	FNDX +0.28 points	0.41%	0.13%
Uber TechnologiesUBER	VONV +0.28 points	0.05%	0.33%
Centene CorpCNC	FNDX +0.28 points	0.36%	0.08%
Charles SchwabSCHW	VONV +0.28 points	0.13%	0.41%
Elevance Health IncELV	FNDX +0.27 points	0.50%	0.23%
AT&TT	FNDX +0.26 points	0.71%	0.45%
Amgen IncAMGN	FNDX +0.26 points	0.44%	0.18%
Merck & Co IncMRK	VONV +0.26 points	0.73%	0.99%
Thermo Fisher ScientificTMO	VONV +0.26 points	0.43%	0.69%
BlackRockBLK	VONV +0.25 points	0.19%	0.44%
Target CorpTGT	FNDX +0.25 points	0.45%	0.20%
Vertex PharmaceuticalsVRTX	VONV +0.25 points	0.12%	0.37%
Eaton PLCETN	VONV +0.25 points	0.14%	0.39%
Parker-HannifinPH	VONV +0.23 points	0.10%	0.33%
SalesforceCRM	VONV +0.23 points	0.27%	0.50%
Prologis ReitPLD	VONV +0.23 points	0.11%	0.34%
Morgan StanleyMS	VONV +0.22 points	0.36%	0.58%
CignaCI	FNDX +0.22 points	0.42%	0.20%
DowDOW	FNDX +0.22 points	0.27%	0.05%
Dell Technologies Inc Class CDELL	VONV +0.21 points	0.18%	0.39%
International Business Machines CoIBM	VONV +0.21 points	0.36%	0.57%
Nextera EnergyNEE	VONV +0.21 points	0.23%	0.43%
Goldman Sachs GroupGS	VONV +0.20 points	0.47%	0.67%
United Parcel Service Inc Class BUPS	FNDX +0.21 points	0.36%	0.16%
Equinix ReitEQIX	VONV +0.20 points	0.07%	0.27%
NewmontNEM	VONV +0.20 points	0.13%	0.33%
NucorNUE	FNDX +0.20 points	0.34%	0.14%
Mcdonalds CorpMCD	VONV +0.19 points	0.26%	0.45%
CitigroupC	FNDX +0.19 points	0.69%	0.50%
KrogerKR	FNDX +0.18 points	0.27%	0.09%
SynopsysSNPS	VONV +0.17 points	0.05%	0.22%
Accenture PLC Class AACN	FNDX +0.17 points	0.48%	0.31%
Eog ResourcesEOG	FNDX +0.17 points	0.37%	0.20%
DanaherDHR	VONV +0.17 points	0.22%	0.39%
Bristol Myers SquibbBMY	FNDX +0.16 points	0.51%	0.35%
Cme Group Class ACME	VONV +0.15 points	0.11%	0.26%
Adobe IncADBE	FNDX +0.15 points	0.23%	0.08%
S&P GlobalSPGI	VONV +0.14 points	0.18%	0.32%
StrykerSYK	VONV +0.14 points	0.12%	0.26%
Hp IncHPQ	FNDX +0.14 points	0.22%	0.08%
PayPal HoldingsPYPL	FNDX +0.14 points	0.22%	0.08%
Constellation Energy CorpCEG	VONV +0.14 points	0.07%	0.21%
Lyondellbasell Industries Class ALYB	FNDX +0.14 points	0.18%	0.04%
QualcommQCOM	VONV +0.13 points	0.40%	0.53%
Archer Daniels MidlandADM	FNDX +0.14 points	0.24%	0.10%
ProgressivePGR	VONV +0.13 points	0.20%	0.33%
Mckesson CorpMCK	FNDX +0.13 points	0.15%	0.02%
Intercontinental ExchangeICE	VONV +0.13 points	0.11%	0.23%
BoeingBA	VONV +0.13 points	<0.01%	0.14%
Synchrony FinancialSYF	FNDX +0.13 points	0.19%	0.06%
Best BuyBBY	FNDX +0.13 points	0.18%	0.05%
Charter Communications Class ACHTR	FNDX +0.13 points	0.16%	0.03%
American International GroupAIG	FNDX +0.13 points	0.24%	0.11%
CortevaCTVA	VONV +0.12 points	0.02%	0.14%
Gilead SciencesGILD	VONV +0.12 points	0.39%	0.51%
Occidental Petroleum CorpOXY	FNDX +0.12 points	0.23%	0.11%
Boston ScientificBSX	VONV +0.12 points	0.06%	0.18%
Hf SinclairDINO	FNDX +0.11 points	0.16%	0.04%
Delta Air LinesDAL	VONV +0.11 points	0.02%	0.13%
ChubbCB	VONV +0.10 points	0.21%	0.31%
DeereDE	VONV +0.11 points	0.35%	0.46%
Devon EnergyDVN	FNDX +0.11 points	0.25%	0.14%
Digital Realty Trust ReitDLR	VONV +0.10 points	0.08%	0.18%
Lennar A Class ALEN	FNDX +0.11 points	0.14%	0.03%
EcolabECL	VONV +0.11 points	0.08%	0.19%
Johnson Controls International PLCJCI	VONV +0.10 points	0.13%	0.23%
Ametek IncAME	VONV +0.11 points	0.05%	0.16%
Abbott LaboratoriesABT	VONV +0.10 points	0.37%	0.47%
Fedex CorpFDX	FNDX +0.10 points	0.27%	0.17%

All 733 FNDX holdings⁠All 872 VONV 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.

FNDX vs VONV Cost

Overpaying FNDX vs VONV

$3,889

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

FNDX 0.25%
$5,159
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

FNDX 0.25%
VONV 0.06%
Overpaying

Year by year

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

Expense ratio

0.25%FNDX
0.06%VONV, cheaper

VONV0.06%FNDX0.25%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VONV 4th cheapest of 99 funds

FNDX 36th cheapest of 99 funds

FNDX vs VONV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FNDX 1.44%; VONV 1.53%, better
Payout (12M): FNDX $0.47; VONV $1.74
Last payment: FNDX $0.12; VONV $0.42
Ex-dividend: FNDX Sep 23, 2026; VONV Sep 23, 2026
Paid on: FNDX Sep 28, 2026; VONV Sep 25, 2026
Frequency: FNDX Quarterly; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FNDXQuarterly · 40 paymentsAll FNDX payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

FNDX vs VONV Risk

Fall from peak · 5 years

FNDX
VONV

Risk facts

VolatilityStd dev, 3 years: FNDX 11.5%, betterVONV 12.1%
Return per unit of riskSharpe ratio, 3 years: FNDX 1.54, betterVONV 1.43
Worst fallMax drawdown, 5 years: FNDX −19.1%VONV −18.9%, better
Market sensitivityBeta, 5 years: FNDX 0.89VONV 0.85; Market = 1

FNDX and VONV in the news

All news⁠

Best ETFs
Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list
Updated Nov 2, 2026VONV
Best ETFs
The best value ETF depends on whose list you bought
Updated Oct 2, 2026VONV
Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026VONV

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FNDX vs VONV

In short

Stated mandate

Why people hold it

Worth knowing

How FNDX and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FNDX

Only in VONV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list

The best value ETF depends on whose list you bought

US multifactor funds ran 30 points apart

How FNDX and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FNDX

Only in VONV

Weight gaps