FNDX vs QDEF
Schwab Fundamental US Large Company ETF vs Northern Trust Quality Dividend Defensive ETF
Which is better, FNDX or QDEF?
Nearly the same fund. FNDX costs less.
FNDX has a lower expense ratio. FNDX led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. FNDX is less concentrated, with 22.3% of the fund in its ten largest positions against 36.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FNDX | QDEF |
|---|---|---|
| Expense Ratio | 0.25%Best | 0.37% |
| AUM | $28.0B | $555M |
| Dividend Yield | 1.50% | 1.60% |
| Holdings | 736 | 137 |
| YTD Return | +19.26%Best | +12.91% |
| 1Y Return | +25.57%Best | +16.44% |
| 3Y Return (annualized) | +21.97%Best | +20.19% |
| 5Y Return (annualized) | +13.81%Best | +12.98% |
| Volatility (annualized) | 14.8% | 13.4%Best |
| Max Drawdown | -37.7% | -36.2%Best |
| $10,000 over 5 years | $19,094Best | $18,408 |
| Top 10 Weight | 22.3%Best | 36.5% |
| Fund Family | Charles Schwab Asset Management | Northern Trust Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Aug 15, 2013 | Dec 14, 2012 |
Volatility and max drawdown are measured over the window both funds cover: Aug 15, 2013 to Oct 14, 2026 (13.2 years).
FNDX vs QDEF growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 13.2 years both funds cover.
FNDX vs QDEF Performance
Schwab Fundamental US Large Company ETF (FNDX) is an ETF from Charles Schwab Asset Management and Northern Trust Quality Dividend Defensive ETF (QDEF) is an ETF from Northern Trust Asset Management. Over the past year FNDX returned +25.57% while QDEF returned +16.44%. Year to date, FNDX is up 19.26% versus a gain of 12.91% for QDEF.
Over three years, FNDX compounded at +21.97% per year against +20.19% for QDEF; over five years the annualized figures are +13.81% and +12.98% respectively. Across the full 13-year window we track, FNDX has the edge at +11.88% annualized vs +9.69%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FNDX has been the more volatile fund, with annualized monthly volatility of 14.8% compared with 13.4% for QDEF. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -37.7% for FNDX and -36.2% for QDEF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FNDX charges 0.25% per year while QDEF charges 0.37%. On a $10,000 position that is $25 vs $37 annually, a gap of $12 per year that compounds over a long holding period. On income, FNDX currently yields 1.50% against 1.60% for QDEF.
Holdings Overlap
43.2% of FNDX's money is in holdings QDEF also owns. 89.8% of QDEF's money is in holdings FNDX also owns.
Most of QDEF is already inside FNDX. Owning both mostly buys the same companies twice.
123 positions in common, counted across the 733 positions we hold weights for in FNDX and 154 in QDEF, against full books of 736 and 137.
What only one of them owns
Our book lists 27 positions for QDEF that do not appear in our book for FNDX (8.2% of the fund), and 590 for FNDX that do not appear in QDEF (55.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in FNDX | Weight in QDEF | Difference |
|---|---|---|---|
| AAPLApple, Inc | 4.82% | 8.95% | 4.13% |
| NVDANvidia Corp | 0.80% | 7.39% | 6.59% |
| MSFTMicrosoft Corp | 3.20% | 4.55% | 1.35% |
| GOOGLAlphabet Inc | 1.77% | 2.35% | 0.58% |
| JNJJohnson & Johnson - Common | 0.99% | 2.80% | 1.81% |
| JPMJpmorgan Chase | 1.57% | 2.01% | 0.44% |
| METAMeta Platforms Inc | 1.84% | 1.59% | 0.25% |
| GOOGAlphabet Inc. C | 1.42% | 1.87% | 0.45% |
| AVGOBroadcom Inc | 0.49% | 2.66% | 2.17% |
| XOMExxonmobil Corp. | 2.37% | 0.49% | 1.88% |
89.8% of QDEF is already inside FNDX.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FNDX or QDEF?
FNDX has an expense ratio of 0.25% while QDEF charges 0.37%. FNDX is the cheaper option, by $12 a year on a $10,000 investment.
Which performed better, FNDX or QDEF?
Over the past year FNDX returned +25.57% vs +16.44% for QDEF, so FNDX leads on 1-year performance. Over the longest common window we track (13 years), FNDX annualized +11.88% vs +9.69% for QDEF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FNDX or QDEF?
FNDX has been the more volatile fund at 14.8% annualized versus 13.4% for QDEF. Worst drawdown: FNDX -37.7% vs QDEF -36.2%.
Should I hold both FNDX and QDEF?
FNDX and QDEF have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between FNDX and QDEF?
89.8% of QDEF's money is in holdings FNDX also owns. 89.8% of QDEF's is in holdings FNDX also owns. They hold 123 positions in common, counted across the 733 positions we hold weights for in FNDX and 154 in QDEF.
Which pays a higher dividend, FNDX or QDEF?
FNDX yields 1.50% while QDEF yields 1.60%, so QDEF currently pays the higher dividend yield.
Is QDEF better than FNDX?
FNDX has a lower expense ratio. FNDX led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. FNDX is less concentrated, with 22.3% of the fund in its ten largest positions against 36.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.