- Issuer
- Fidelity
- Inception Date
- Nov 20, 2023
- Category
- Large Cap Value Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
- Assets Under Management
- $3B
Share Price Chart
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Performance
FELV Performance Chart
Fidelity Enhanced Large Cap Value ETF (FELV) is up 16.6% since the beginning of the year. FELV is currently trading at $40 per share.
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Returns By Period
Fidelity Enhanced Large Cap Value ETF (FELV) has returned 16.63% so far this year and 31.21% over the past 12 months.
Fidelity Enhanced Large Cap Value ETF
- 1D
- -0.20%
- 1M
- 5.18%
- YTD
- 16.63%
- 6M
- 17.12%
- 1Y
- 31.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.57%
- 1M
- 1.39%
- YTD
- 9.73%
- 6M
- 10.46%
- 1Y
- 24.50%
- 3Y*
- 19.43%
- 5Y*
- 12.21%
- 10Y*
- 13.75%
FELV Monthly Returns History
Based on dividend-adjusted daily data since Nov 20, 2023, FELV's average daily return is +0.08%, while the average monthly return is +1.69%. At this rate, an investment would double in approximately 3.4 years.
Historically, 78% of months were positive and 22% were negative. The best month was Apr 2026 with a return of +8.6%, while the worst month was Dec 2024 at -6.8%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 2 months.
On a daily basis, FELV closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +7.7%, while the worst single day was Apr 4, 2025 at -5.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.92% | 2.22% | -4.75% | 8.62% | 3.51% | 2.52% | 16.63% | ||||||
| 2025 | 4.46% | 0.03% | -3.01% | -2.83% | 3.31% | 3.44% | 0.35% | 3.89% | 1.68% | 0.63% | 2.19% | 0.94% | 15.80% |
| 2024 | 0.34% | 3.86% | 5.33% | -4.32% | 2.79% | -0.30% | 4.62% | 2.78% | 1.26% | -0.55% | 6.66% | -6.77% | 15.89% |
| 2023 | 1.64% | 5.76% | 7.49% |
Benchmark Metrics
Fidelity Enhanced Large Cap Value ETF has an annualized alpha of 5.26%, beta of 0.76, and R2 of 0.76 versus S&P 500 Index. Calculated based on daily prices since November 20, 2023.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (92.30%) than losses (77.06%) - typical of diversified or defensive assets.
- This ETF generated an annualized alpha of 5.26% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Alpha
- 5.26%
- Beta
- 0.76
- R²
- 0.76
- Upside Capture
- 92.30%
- Downside Capture
- 77.06%
Expense Ratio
FELV has an expense ratio of 0.18%, which is considered low.
Return for Risk
Risk / Return Rank
FELV ranks 90 for risk / return — in the top 90% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Fidelity Enhanced Large Cap Value ETF (FELV) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FELV | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.36 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 4.58 | 2.71 | +1.87 |
| Martin ratioReturn relative to average drawdown | 19.58 | 12.15 | +7.43 |
Dividends
Dividend History
Fidelity Enhanced Large Cap Value ETF provided a 1.49% dividend yield over the last twelve months, with an annual payout of $0.60 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.60 | $0.58 | $0.62 | $0.01 |
Dividend yield | 1.49% | 1.67% | 2.02% | 0.04% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Enhanced Large Cap Value ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.00 | $0.16 | ||||||
| 2025 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.14 | $0.58 |
| 2024 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.15 | $0.62 |
| 2023 | $0.01 | $0.01 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Fidelity Enhanced Large Cap Value ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Fidelity Enhanced Large Cap Value ETF was 16.08%, occurring on Apr 8, 2025. Recovery took 87 trading sessions.
The current Fidelity Enhanced Large Cap Value ETF drawdown is 0.20%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -16.08%Apr 2025 | 4mo 7d | 4mo 7d | 8mo 14dDec 2024 - Aug 2025 |
2026 pullback2026 | -6.85%Mar 2026 | 28d | 15d | 1mo 13dMar 2026 - Apr 2026 |
2024 pullback2024 | -5.34%Apr 2024 | 16d | 2mo 26d | 3mo 12dApr 2024 - Jul 2024 |
2024 pullback2024 | -5.15%Aug 2024 | 4d | 14d | 18dAug 2024 - Aug 2024 |
2025 pullback2025 | -4.23%Nov 2025 | 7d | 8d | 15dNov 2025 - Nov 2025 |
Drawdown Indicators
| FELV | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.08% | -56.78% | +40.70% |
Max Drawdown (1Y)Largest decline over 1 year | -6.85% | -9.10% | +2.25% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.20% | -1.29% | +1.09% |
Average DrawdownAverage peak-to-trough decline | -2.05% | -10.72% | +8.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 2.02% | -0.42% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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