FNDF vs SPDW: Holdings Overlap
FNDFSchwab Fundamental International Equity ETF
Schwab · 888 holdings · $25.2B · as of 2026-05-31
SPDWState Street® SPDR® Portfolio Developed World ex-US ETF
State Street (SPDR) · 2342 holdings · $40.5B · as of 2026-08-04
Holdings snapshots are 65 days apart (FNDF: 2026-05-31, SPDW: 2026-08-04). 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 SPDW?
Schwab Fundamental International Equity ETF (FNDF, by Schwab) holds 888 positions; State Street® SPDR® Portfolio Developed World ex-US ETF (SPDW, by State Street (SPDR)) holds 2342. They have 799 holdings in common, and by portfolio weight the two funds are 58.5% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 58.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 799FNDF holds 888 · SPDW holds 2342
- Weight in Shared Holdings
- FNDF 94%·SPDW 79%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
89 of 888 positions (5.0% of the fund) are not held by SPDW. Showing the top 30 by weight.
Only in SPDW
1543 of 2342 positions (19.3% of the fund) are not held by FNDF. Showing the top 30 by weight.
SMSNSamsung Electronics Co Ltd2.29%
INVE-BInvestor AB0.24%
A402340SK Square Co Ltd0.18%
ARGXArgenx SE0.16%
CCOCameco Corp0.15%
WCNWASTE CONNECTIONS INC0.12%
Sector Breakdown
| Sector | FNDF | SPDW |
|---|---|---|
| Financials | 15.8% | 21.9% |
| Industrials | 11.4% | 13.2% |
| Information Technology | 12.3% | 12.6% |
| Energy | 10.0% | 4.1% |
| Materials | 9.5% | 5.9% |
| Other Sectors | 27.2% | 23.7% |
| Unclassified | 13.1% | 17.3% |
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, 18% of SPDW).
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% |
| SPDW | +3.1% | +17.9% | +30.1% | +19.9% | +10.1% | +10.3% | 2.94% |
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 SPDW →
Shared Holdings(799)
The top 10 shared positions account for 13% of the overlap, led by 000660, HSBA and ROP.
 000660SK hynix Inc | 1.37% | 1.68% | 1.37% |
|---|---|---|---|
 HSBAHSBC Holdings PLC | 1.00% | 1.03% | 1.00% |
 ROPRoche Holding AG | 0.82% | 0.93% | 0.82% |
 SHELShell PLC | 2.19% | 0.76% | 0.76% |
 NESNNestle SA (Registered) | 0.67% | 0.76% | 0.67% |
 7203Toyota Motor Corp. NPV | 0.89% | 0.67% | 0.67% |
 BHPBHP Group Ltd. | 1.22% | 0.66% | 0.66% |
 SANBanco Santander SA | 0.73% | 0.64% | 0.64% |
 NOVNNovartis AG (Registered) | 0.59% | 0.83% | 0.59% |
 RYGovernment Long Bond 1.2x Strategy Fund | 0.52% | 0.87% | 0.52% |
 TTETotalEnergies SE EUR2.5 | 1.69% | 0.51% | 0.51% |
 TDThe Toronto-Dominion Bank COM NEW | 0.50% | 0.59% | 0.50% |
 SIESiemens AG (Registered) | 0.47% | 0.68% | 0.47% |
 ALVAllianz SE (Registered) | 0.43% | 0.56% | 0.43% |
 BBVABanco Bilbao Vizcaya Argentaria SA | 0.41% | 0.48% | 0.41% |
 9984SoftBank Group Corp. | 0.41% | 0.42% | 0.41% |
 6501Hitachi Ltd. NPV | 0.40% | 0.47% | 0.40% |
 ASMLASML Holding NV | 0.40% | 1.96% | 0.40% |
 BNPBNP Paribas SA | 0.47% | 0.39% | 0.39% |
 AZNAstraZeneca PLC ORD USD0.25 | 0.38% | 0.73% | 0.38% |
 8058Mitsubishi Corp. NPV | 0.62% | 0.36% | 0.36% |
 BP-BP plc | 1.08% | 0.35% | 0.35% |
 BATSBritish American Tobacco PLC | 0.58% | 0.34% | 0.34% |
 DTEDeutsche Telekom AG (Registered) | 0.62% | 0.34% | 0.34% |
 BNSBank of Nova Scotia/The | 0.35% | 0.33% | 0.33% |
Showing the top 250 of 799 shared holdings by overlap weight.
Frequently Asked Questions
How much do FNDF and SPDW overlap?
FNDF and SPDW overlap by 58.5% of portfolio weight. They share 799 holdings (FNDF holds 888 positions and SPDW holds 2342), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FNDF and SPDW?
The two portfolios are 58.5% 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 SPDW?
The largest positions held by both funds are 000660, HSBA, ROP, SHEL and NESN. Together the top 10 shared positions account for 13% of the total overlap.
What does FNDF own that SPDW doesn't?
89 positions (5.0% of FNDF) are unique to FNDF, led by 8031, SAN and 005490. In the other direction, 1543 positions (19.3% of SPDW) are unique to SPDW.