What is the fundamental difference between FNDX and VOO?

FNDX is a Schwab Fundamental US Large Company ETF with a 0.25% expense ratio and $28.3 billion in assets, tracking not available index. VOO is a Vanguard S&P 500 ETF with a 0.03% expense ratio and $1.08 trillion in assets, also tracking not available. Both provide US large-cap exposure but use different fund structures. Investors should understand these structural differences before comparing the funds.

What does it mean when an ETF's index tracking information is listed as not available?

When an ETF shows index tracking as 'not available', it means that specific benchmark methodology is not disclosed in the provided data. This does not indicate poor transparency, but rather limits ability to assess how closely fund holdings replicate the intended index. Investors should note this information gap when comparing FNDX (Schwab, $28.3B assets, 0.25% fees) and VOO (Vanguard, $1.08T assets, 0.03% fees). Understanding index methodologies helps evaluate how funds deliver their stated investment objectives.

How do fund expense ratios work and what's the difference between 0.25% and 0.03%?

Expense ratios represent annual fees charged as a percentage of assets. FNDX charges 0.25% while VOO charges 0.03%, a difference of 0.22 percentage points. On $10,000, this means $25 versus $3 annual cost. Over time, compounding effects mean lower fees allow more capital to work for investors. This difference becomes significant over longer investment horizons, as fees reduce potential growth through compounding. Both funds use these expenses for operational management, but the impact on returns varies substantially.

How do FNDX and VOO differ in their investment strategies?

FNDX is a Large Value ETF with a $28.3 billion asset base and 0.25% expense ratio, while VOO is a Large Blend fund with $1.08 trillion assets and 0.03% fees. Both provide US large-cap exposure but use different approaches. FNDX holds 115 stocks with top ten comprising 21.37% of assets, whereas VOO tracks S&P 500 with top ten at 39.08%. This results in FNDX offering more diversified holdings while VOO concentrates in largest companies. Their differing strategies create unique risk-return profiles.

Why might investors prefer lower expense ratios when comparing FNDX and VOO?

VOO offers a significantly lower expense ratio of 0.03% compared to FNDX's 0.25%, a difference of 0.22 percentage points. Over longer investment horizons, even small fee differences compound substantially. A lower expense ratio means more of investors' capital remains invested rather than paying management fees, potentially improving long-term returns. With $1.08 trillion in net assets versus $28.3 billion, VOO's scale contributes to this fee efficiency. Investors should consider how these cost differences align with their investment strategies.

What do the top ten holdings tell us about concentration risk in these funds?

FNDX's top ten holdings comprise 21.37% of assets, while VOO's top ten constitute 39.08%, indicating VOO has significantly higher concentration in its largest positions. Both funds share AAPL, MSFT, GOOGL, AMZN, and GOOG among their top holdings. FNDX's broader diversification across 115 large-cap stocks results in lower individual stock impact. VOO's S&P 500 tracking naturally produces higher concentration in mega-cap names. The actual concentration levels represent different approaches to managing portfolio risk within US large-cap investing.

How do the dividend yields of FNDX and VOO compare and what does this mean for income?

FNDX offers a 1.43% dividend yield compared to VOO's 1.03%, a 0.40 percentage point difference. On a $10,000 investment, this translates to approximately $143 versus $103 in annual income. Dividend yields represent current income distribution rates but do not guarantee future payments. FNDX provides modestly higher income for investors focused on cash flow generation, while VOO's lower yield reflects its growth-oriented index composition. Both yields are modest compared to dedicated income funds and represent only one aspect of total return calculation.

What does 'large-cap' mean and how do these funds define it differently?

Large-cap refers to companies with substantial market capitalisation, typically representing mature, established businesses. FNDX holds 115 large-cap stocks with a $28.3 billion asset base and 0.25% expense ratio. VOO tracks the S&P 500 with $1.08 trillion in assets and 0.03% fees, offering broader large-cap exposure. Both provide US large-cap market access but through different methodologies, with FNDX being a Large Value category fund and VOO being Large Blend. The categorisation affects their sector positioning and overall market exposure characteristics.

How does fund size impact the FNDX and VOO comparison?

Fund size impacts trading, liquidity and cost efficiency. VOO is exceptionally large at $1.08 trillion in net assets compared to FNDX's $28.3 billion, creating differences in market impact during trading. Larger funds like VOO may have operational advantages in implementing their strategies and often benefit from scale economies, reflected in its 0.03% expense ratio versus FNDX's 0.25%. Both funds maintain adequate liquidity levels, but the size differential influences how investors might experience bid-ask spreads and trade execution. Fund size alone doesn't determine performance but affects practical investing considerations.

What are the inception dates of these funds and why might this matter?

VOO launched on 7 September 2010, while FNDX started on 15 August 2013, giving VOO approximately three years of additional operating history. Longer inception periods provide more performance data for analysis and demonstrate a fund's experience across multiple market cycles. VOO's earlier inception coincides with a period of significant technological growth in large-cap equities, while FNDX's launch occurred during an emerging fundamental value methodology trend. These different market entry points shaped their respective development paths and initial investor bases within the US large-cap category.

How should beginners read and interpret these ETF comparison data points?

Beginners should focus on three key comparison points: expense ratios (FNDX at 0.25% vs VOO at 0.03%), net assets (FNDX $28.3 billion vs VOO $1.08 trillion), and dividend yields (FNDX 1.43% vs VOO 1.03%). These metrics illustrate cost, scale and income characteristics. When comparing funds, remember that lower expense ratios generally benefit long-term returns, while larger asset bases may offer liquidity advantages. Sector weights and index tracking information for both funds are not available, highlighting limitations in the comparison data available for thorough analysis.

What limitations should I be aware of when comparing these two ETFs?

This comparison has important limitations to note. Neither FNDX nor VOO has sector weights or index tracking details available, preventing analysis of their precise market exposure methodologies. The data also omits performance history and volatility metrics. While we know FNDX holds 115 stocks versus VOO's S&P 500 tracking (500+ stocks), actual portfolio composition details are limited. Investors should consider that expense ratios, net assets and dividend yields provide only partial insights, requiring additional research before making investment decisions based on this comparison.

FNDX vs VOO

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

This page compares FNDX (Schwab Fundamental US Large Company ETF) and VOO (S&P 500 Vanguard ETF) across fees, holdings, dividends, and market tracking. Weigh Schwab's Large Value approach at 0.25% expense ratio against Vanguard's Large Blend index at 0.03%, while noting sector and index details are not available. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

Metric

0.25%

Expense Ratio

0.03%

1.43%

Dividend Yield

1.03%

$28.32B

Net Assets

$1.08T

733

Holdings

516

Aug 15, 2013

Inception Date

Sep 7, 2010

–

Index Tracked

–

Large Value

Fund Category

Large Blend

VOO costs about $22.00 less per year for every $10,000 invested.

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Investment Analysis

FNDX

Pros

Schwab Fundamental US Large Company ETF has assets of $28.3 billion, providing substantial fund scale.
The fund's dividend yield of 1.43% offers a moderately higher income profile for investors.
It provides broad exposure to 115 large-cap stocks, supporting meaningful US equity diversification.

Considerations

The fund's expense ratio of 0.25% is meaningfully higher than many broad-market index ETFs.
Its top ten holdings comprise only 21.37% of assets, which may dilute the impact of leading constituents.
The tracked index methodology is not available in the provided data, limiting transparency for investors.

VOO

Pros

Vanguard's fund has a very low expense ratio of 0.03%, reducing the drag on investment returns.
With net assets of $1.08 trillion, the fund is exceptionally large, implying high liquidity and trading ease.
It tracks the S&P 500, a widely recognised benchmark providing diversified exposure to the US large-cap market.

Considerations

Top ten holdings constitute 39.08% of fund assets, indicating a notable concentration in the largest companies.
Its dividend yield of 1.03% is lower than that of many income-oriented equity funds.
As a large-blend fund tracking the S&P 500, it is heavily weighted toward the technology sector.

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About FNDX and VOO

FNDX (FNDX)

The Schwab Fundamental US Large Company ETF (FNDX) is an exchange-traded fund focused on large-cap U.S. companies with fundamental value characteristics. It aims to track an index designed to reflect the performance of these firms, using metrics like cash flow and dividends to determine weighting. With net assets of USD 28.32 billion, it offers broad exposure to established businesses through its 733 holdings. The fund operates with a 0.25% expense ratio and provides a dividend yield of 1.43%. Inception occurred on August 15, 2013. As with any investment, its value can fluctuate, and returns are not guaranteed.

VOO (VOO)

VOO is Vanguard’s exchange-traded fund designed to track the S&P 500 Index, offering broad exposure to about 500 of the largest publicly traded US companies. It aims to replicate the index’s performance minus fees by holding the same stocks in similar proportions, making it a straightforward, passive way to access large‑cap US equities. Investors commonly use VOO as a core holding for long‑term growth or as a simple building block in a diversified portfolio. It typically offers high liquidity and regular dividend distributions from underlying companies. As with any equity investment, VOO’s value can rise or fall with the market, and past performance is not a guide to future returns. Fees, trading costs and potential tracking error reduce returns slightly. This information is general and educational only and not personalised financial advice — consider your own circumstances or speak to a qualified adviser before investing.

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Holding	FNDX	VOO
AAPLApple Inc.	4.76%	7.03%
MSFTMicrosoft Corporation	2.78%	5.70%
GOOGLAlphabet Inc.	1.83%	3.01%
AMZNAmazon.com, Inc.	1.75%	3.84%
GOOGAlphabet Inc.	1.45%	2.40%

FNDX vs VOO

Fund Snapshot