FCLD vs. FELG

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Cloud Computing ETF (FCLD) and Fidelity Enhanced Large Cap Growth ETF (FELG).

FCLD and FELG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCLD is a passively managed fund by Fidelity that tracks the performance of the Fidelity Cloud Computing Index - Benchmark TR Gross. It was launched on Oct 5, 2021. FELG is an actively managed fund by Fidelity. It was launched on Nov 20, 2023.

Performance

FCLD vs. FELG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Cloud Computing ETF (FCLD) and Fidelity Enhanced Large Cap Growth ETF (FELG). The values are adjusted to include any dividend payments, if applicable.

FCLD vs. FELG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FCLD Fidelity Cloud Computing ETF	-8.71%	8.19%	21.80%	10.22%
FELG Fidelity Enhanced Large Cap Growth ETF	-10.02%	18.44%	35.45%	4.20%

Returns By Period

In the year-to-date period, FCLD achieves a -8.71% return, which is significantly higher than FELG's -10.02% return.

FCLD

• 1D: 3.43%
• 1M: -2.59%
• YTD: -8.71%
• 6M: -7.18%
• 1Y: 14.12%
• 3Y*: 16.12%
• 5Y*: —
• 10Y*: —

FELG

• 1D: 3.91%
• 1M: -5.12%
• YTD: -10.02%
• 6M: -8.66%
• 1Y: 19.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FCLD vs. FELG - Expense Ratio Comparison

FCLD has a 0.39% expense ratio, which is higher than FELG's 0.18% expense ratio.

FCLD

Fidelity Cloud Computing ETF

FELG

Fidelity Enhanced Large Cap Growth ETF

Return for Risk

FCLD vs. FELG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FCLD

FCLD Risk / Return Rank: 29
FCLD Sharpe Ratio Rank: 26
FCLD Sortino Ratio Rank: 31
FCLD Omega Ratio Rank: 29
FCLD Calmar Ratio Rank: 30
FCLD Martin Ratio Rank: 26

FELG

FELG Risk / Return Rank: 53
FELG Sharpe Ratio Rank: 51
FELG Sortino Ratio Rank: 57
FELG Omega Ratio Rank: 56
FELG Calmar Ratio Rank: 53
FELG Martin Ratio Rank: 47

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FCLD vs. FELG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Cloud Computing ETF (FCLD) and Fidelity Enhanced Large Cap Growth ETF (FELG). 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.

	FCLD	FELG	Difference
Sharpe ratio Return per unit of total volatility	0.44	0.87	-0.43
Sortino ratio Return per unit of downside risk	0.87	1.40	-0.53
Omega ratio Gain probability vs. loss probability	1.11	1.20	-0.09
Calmar ratio Return relative to maximum drawdown	0.69	1.22	-0.53
Martin ratio Return relative to average drawdown	1.94	4.23	-2.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCLD vs. FELG - Sharpe Ratio Comparison

The current FCLD Sharpe Ratio is 0.44, which is lower than the FELG Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of FCLD and FELG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FCLD	FELG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.44	0.87	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.94	-0.89

Correlation

The correlation between FCLD and FELG is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FCLD vs. FELG - Dividend Comparison

FCLD's dividend yield for the trailing twelve months is around 0.03%, less than FELG's 0.41% yield.

	TTM	2025	2024	2023	2022	2021
FCLD Fidelity Cloud Computing ETF	0.03%	0.03%	0.13%	0.17%	0.26%	0.13%
FELG Fidelity Enhanced Large Cap Growth ETF	0.41%	0.38%	0.44%	0.11%	0.00%	0.00%

Drawdowns

FCLD vs. FELG - Drawdown Comparison

The maximum FCLD drawdown since its inception was -50.85%, which is greater than FELG's maximum drawdown of -23.89%. Use the drawdown chart below to compare losses from any high point for FCLD and FELG.

Drawdown Indicators

	FCLD	FELG	Difference
Max Drawdown Largest peak-to-trough decline	-50.85%	-23.89%	-26.96%
Max Drawdown (1Y) Largest decline over 1 year	-18.53%	-16.17%	-2.36%
Current Drawdown Current decline from peak	-14.65%	-12.90%	-1.75%
Average Drawdown Average peak-to-trough decline	-21.14%	-3.56%	-17.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.56%	4.67%	+1.89%

Volatility

FCLD vs. FELG - Volatility Comparison

Fidelity Cloud Computing ETF (FCLD) has a higher volatility of 8.46% compared to Fidelity Enhanced Large Cap Growth ETF (FELG) at 6.85%. This indicates that FCLD's price experiences larger fluctuations and is considered to be riskier than FELG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCLD	FELG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.46%	6.85%	+1.61%
Volatility (6M) Calculated over the trailing 6-month period	19.66%	12.41%	+7.25%
Volatility (1Y) Calculated over the trailing 1-year period	32.15%	22.58%	+9.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.24%	20.24%	+10.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.24%	20.24%	+10.00%