AVLV vs. FELV

Last updated Aug 4, 2026

AVLV (Avantis U.S. Large Cap Value ETF) and FELV (Fidelity Enhanced Large Cap Value ETF) are both Large Cap Value Equities funds. Both are actively managed. Over the past year, AVLV returned 37.90% vs 36.79% for FELV. Their correlation of 0.91 means they have usually moved in the same direction. AVLV charges 0.15%/yr vs 0.18%/yr for FELV.

Performance

AVLV vs. FELV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis U.S. Large Cap Value ETF (AVLV) and Fidelity Enhanced Large Cap Value ETF (FELV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with AVLV having a 23.60% return and FELV slightly lower at 23.19%.

AVLV

• 1D: 1.01%
• 1M: 2.49%
• 6M: 14.26%
• YTD: 23.60%
• 1Y: 37.90%
• 3Y*: 21.00%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.98%

FELV

• 1D: 0.93%
• 1M: 4.23%
• 6M: 17.57%
• YTD: 23.19%
• 1Y: 36.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AVLV Avantis U.S. Large Cap Value ETF	$110.88M	$105.15M	$154.25M
FELV Fidelity Enhanced Large Cap Value ETF	$8.12M	$7.54M	$6.16M

AVLV vs. FELV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AVLV Avantis U.S. Large Cap Value ETF	23.60%	15.12%	17.49%	7.97%
FELV Fidelity Enhanced Large Cap Value ETF	23.19%	15.80%	15.89%	7.49%

Correlation

The correlation between AVLV and FELV is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.91

The correlation between AVLV and FELV has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

AVLV vs. FELV - Sectors Allocation Comparison

Sectors	AVLV	FELV
Financial Services	21.5%	18.7%
Technology	16.9%	22.0%
Industrials	15.3%	13.2%
Consumer Cyclical	14.2%	10.3%
Energy	12.7%	5.4%
Communication Services	6.7%	4.9%
Consumer Defensive	6.2%	5.3%
Healthcare	4.4%	11.0%
Basic Materials	1.8%	2.4%
Utilities	0.4%	3.7%
Real Estate	0.0%	3.1%

Return for Risk

AVLV vs. FELV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AVLV

AVLV Risk / Return Rank: 96
AVLV Sharpe Ratio Rank: 96
AVLV Sortino Ratio Rank: 96
AVLV Omega Ratio Rank: 95
AVLV Calmar Ratio Rank: 96
AVLV Martin Ratio Rank: 96

FELV

FELV Risk / Return Rank: 96
FELV Sharpe Ratio Rank: 97
FELV Sortino Ratio Rank: 96
FELV Omega Ratio Rank: 96
FELV Calmar Ratio Rank: 95
FELV Martin Ratio Rank: 96

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AVLV vs. FELV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis U.S. Large Cap Value ETF (AVLV) and Fidelity Enhanced Large Cap Value ETF (FELV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AVLV	FELV	Difference
Sharpe ratio: Return per unit of total volatility	3.09	3.33	-0.24
Sortino ratio: Return per unit of downside risk	4.27	4.56	-0.29
Omega ratio: Gain probability vs. loss probability	1.56	1.61	-0.04
Calmar ratio: Return relative to maximum drawdown	5.96	5.39	+0.56
Martin ratio: Return relative to average drawdown	24.13	23.57	+0.56

AVLV vs. FELV - Sharpe Ratio Comparison

The current AVLV Sharpe Ratio is 3.09, which is comparable to the FELV Sharpe Ratio of 3.33. The chart below compares the historical Sharpe Ratios of AVLV and FELV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVLV vs. FELV - Drawdown Comparison

The maximum AVLV drawdown since its inception was -19.50%, which is greater than FELV's maximum drawdown of -16.08%. Use the drawdown chart below to compare losses from any high point for AVLV and FELV.

Drawdown Indicators

	AVLV	FELV	Difference
Max Drawdown Largest peak-to-trough decline	-19.50%	-16.08%	-3.42%
Max Drawdown (1Y) Largest decline over 1 year	-6.39%	-6.85%	+0.46%
Max Drawdown (3Y) Largest decline over 3 years	-19.50%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.82%	-1.97%	-1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	1.56%	+0.02%

Volatility

AVLV vs. FELV - Volatility Comparison

Avantis U.S. Large Cap Value ETF (AVLV) has a higher volatility of 2.53% compared to Fidelity Enhanced Large Cap Value ETF (FELV) at 2.38%. This indicates that AVLV's price experiences larger fluctuations and is considered to be riskier than FELV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVLV	FELV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	2.38%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	8.88%	8.47%	+0.41%
Volatility (1Y) Calculated over the trailing 1-year period	12.35%	11.14%	+1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.17%	13.31%	+3.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.17%	13.31%	+3.86%

AVLV vs. FELV - Expense Ratio Comparison

AVLV has a 0.15% expense ratio, which is lower than FELV's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AVLV vs. FELV - Dividend Comparison

AVLV's dividend yield for the trailing twelve months is around 1.05%, less than FELV's 1.40% yield.

Position	TTM	2025	2024	2023	2022	2021
AVLV Avantis U.S. Large Cap Value ETF	1.05%	1.33%	1.58%	1.85%	2.00%	0.29%
FELV Fidelity Enhanced Large Cap Value ETF	1.40%	1.67%	2.02%	0.04%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVLV and FELV in my portfolio?

With a correlation of 0.90, AVLV and FELV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AVLV or FELV?

AVLV has higher volatility (2.53%) compared to FELV (2.38%). In terms of maximum drawdown, AVLV dropped -19.50% vs FELV's -16.08%.

Which ETF is better, AVLV or FELV?

On 1-year performance, AVLV leads with 37.90% vs 36.79% for FELV. On fees, AVLV is cheaper at 0.15% per year. On volatility, FELV has been the lower-risk option at 2.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVLV or FELV?

Over the 1-year period, AVLV has performed better with a 37.90% return vs 36.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVLV or FELV?

AVLV is cheaper with a 0.15% expense ratio, compared with 0.18% for FELV.

Which ETF pays a higher dividend yield, AVLV or FELV?

FELV has the higher dividend yield at 1.40%, compared with 1.05% for AVLV.

What is the main difference between AVLV and FELV?

They also come from different issuers: Avantis and Fidelity. Their fees differ too: 0.15% for AVLV and 0.18% for FELV.

Which has better risk-adjusted returns?

FELV currently has the higher Sharpe Ratio (3.33 vs 3.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.