FNDF vs IEFA: Holdings Overlap
FNDFSchwab Fundamental International Equity ETF
Schwab · 888 holdings · $25.2B · as of 2026-05-31
IEFAiShares Core MSCI EAFE ETF
iShares · 2632 holdings · $193.5B · as of 2026-04-30
Holdings snapshots are 31 days apart (FNDF: 2026-05-31, IEFA: 2026-04-30). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are FNDF and IEFA?
Schwab Fundamental International Equity ETF (FNDF, by Schwab) holds 888 positions; iShares Core MSCI EAFE ETF (IEFA, by iShares) holds 2632. They have 714 holdings in common, and by portfolio weight the two funds are 54.7% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 54.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 714FNDF holds 888 · IEFA holds 2632
- Weight in Shared Holdings
- FNDF 77%·IEFA 81%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in FNDF
174 of 888 positions (22.5% of the fund) are not held by IEFA. Showing the top 30 by weight.
Sector Breakdown
| Sector | FNDF | IEFA |
|---|---|---|
| Financials | 15.8% | 20.5% |
| Industrials | 11.4% | 16.0% |
| Information Technology | 12.3% | 7.9% |
| Energy | 10.0% | 3.4% |
| Materials | 9.5% | 5.4% |
| Other Sectors | 27.2% | 29.2% |
| Unclassified | 13.1% | 17.0% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (13% of FNDF, 17% of IEFA).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FNDF | +4.2% | +22.8% | +39.1% | +23.1% | +14.5% | +12.0% | 2.97% |
| IEFA | +4.2% | +14.8% | +24.5% | +17.9% | +9.3% | +9.8% | 3.25% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in FNDF vs IEFA →
Shared Holdings(714)
The top 10 shared positions account for 14% of the overlap, led by SHEL, HSBA and ROP.
 SHELShell PLC | 2.19% | 1.02% | 1.02% |
|---|---|---|---|
 HSBAHSBC Holdings PLC | 1.00% | 1.24% | 1.00% |
 ROPRoche Holding AG | 0.82% | 1.13% | 0.82% |
 BHPBHP Group Ltd. | 1.22% | 0.79% | 0.79% |
 TTETotalEnergies SE EUR2.5 | 1.69% | 0.73% | 0.73% |
 7203Toyota Motor Corp. NPV | 0.89% | 0.71% | 0.71% |
 SANBanco Santander SA | 0.73% | 0.70% | 0.70% |
 NESNNestle SA (Registered) | 0.67% | 1.03% | 0.67% |
 NOVNNovartis AG (Registered) | 0.59% | 1.11% | 0.59% |
 BATSBritish American Tobacco PLC | 0.58% | 0.51% | 0.51% |
 BP-BP plc | 1.08% | 0.49% | 0.49% |
 SIESiemens AG (Registered) | 0.47% | 0.89% | 0.47% |
 DTEDeutsche Telekom AG (Registered) | 0.62% | 0.47% | 0.47% |
 RIORio Tinto PLC | 0.80% | 0.45% | 0.45% |
 ALVAllianz SE (Registered) | 0.43% | 0.68% | 0.43% |
 BNPBNP Paribas SA | 0.47% | 0.42% | 0.42% |
 BBVABanco Bilbao Vizcaya Argentaria SA | 0.41% | 0.50% | 0.41% |
 8058Mitsubishi Corp. NPV | 0.62% | 0.41% | 0.41% |
 9984SoftBank Group Corp. | 0.41% | 0.50% | 0.41% |
 6501Hitachi Ltd. NPV | 0.40% | 0.57% | 0.40% |
 ASMLASML Holding NV | 0.40% | 2.21% | 0.40% |
| SANSanofi SA | 0.40% | 0.40% | 0.40% |
 AZNAstraZeneca PLC ORD USD0.25 | 0.38% | 1.16% | 0.38% |
 ENELEnel SpA | 0.38% | 0.37% | 0.37% |
 8031Mitsui & Co Ltd. NPV | 0.46% | 0.37% | 0.37% |
Showing the top 250 of 714 shared holdings by overlap weight.
Frequently Asked Questions
How much do FNDF and IEFA overlap?
FNDF and IEFA overlap by 54.7% of portfolio weight. They share 714 holdings (FNDF holds 888 positions and IEFA holds 2632), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FNDF and IEFA?
The two portfolios are 54.7% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of FNDF and IEFA?
The largest positions held by both funds are SHEL, HSBA, ROP, BHP and TTE. Together the top 10 shared positions account for 14% of the total overlap.
What does FNDF own that IEFA doesn't?
174 positions (22.5% of FNDF) are unique to FNDF, led by 005930, 000660 and 005935. In the other direction, 1918 positions (18.2% of IEFA) are unique to IEFA.