FDCF vs. FELG

Last updated Jun 4, 2026

FDCF (Fidelity Disruptive Communications ETF) and FELG (Fidelity Enhanced Large Cap Growth ETF) are both exchange-traded funds - FDCF is a Communications Equities fund actively managed by Fidelity, while FELG is a Large Cap Growth Equities fund actively managed by Fidelity. Both are actively managed. Over the past year, FDCF returned 23.52% vs 27.58% for FELG. Their correlation of 0.83 suggests significant overlap in exposure. FDCF charges 0.50%/yr vs 0.18%/yr for FELG.

Performance

FDCF vs. FELG - Performance Comparison

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

Returns By Period

In the year-to-date period, FDCF achieves a 5.62% return, which is significantly lower than FELG's 7.70% return.

FDCF

• 1D: -1.77%
• 1M: 3.38%
• YTD: 5.62%
• 6M: 7.71%
• 1Y: 23.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FELG

• 1D: -1.12%
• 1M: 5.85%
• YTD: 7.70%
• 6M: 7.23%
• 1Y: 27.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FDCF vs. FELG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FDCF Fidelity Disruptive Communications ETF	5.62%	27.42%	28.37%	8.34%
FELG Fidelity Enhanced Large Cap Growth ETF	7.70%	18.44%	35.45%	4.20%

Correlation

The correlation between FDCF and FELG is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Nov 21, 2023	0.83

The correlation between FDCF and FELG has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

FDCF vs. FELG - Sectors Allocation Comparison

Sectors	FDCF	FELG
Communication Services	50.2%	13.8%
Technology	36.5%	53.9%
Consumer Cyclical	11.9%	11.5%
Industrials	1.4%	7.2%
Basic Materials	-	0.5%
Consumer Defensive	-	1.0%
Energy	-	1.1%
Financial Services	-	4.7%
Healthcare	-	6.3%
Real Estate	-	0.0%
Utilities	-	0.1%

Return for Risk

FDCF vs. FELG — Risk / Return Rank

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

FDCF

FDCF Risk / Return Rank: 31
FDCF Sharpe Ratio Rank: 35
FDCF Sortino Ratio Rank: 33
FDCF Omega Ratio Rank: 34
FDCF Calmar Ratio Rank: 27
FDCF Martin Ratio Rank: 28

FELG

FELG Risk / Return Rank: 44
FELG Sharpe Ratio Rank: 51
FELG Sortino Ratio Rank: 49
FELG Omega Ratio Rank: 49
FELG Calmar Ratio Rank: 34
FELG Martin Ratio Rank: 37

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.

FDCF vs. FELG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Disruptive Communications ETF (FDCF) 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.

	FDCF	FELG	Difference
Sharpe ratio: Return per unit of total volatility	1.29	1.79	-0.50
Sortino ratio: Return per unit of downside risk	1.79	2.45	-0.66
Omega ratio: Gain probability vs. loss probability	1.23	1.31	-0.08
Calmar ratio: Return relative to maximum drawdown	1.31	1.71	-0.41
Martin ratio: Return relative to average drawdown	3.95	5.86	-1.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDCF vs. FELG - Sharpe Ratio Comparison

The current FDCF Sharpe Ratio is 1.29, which is comparable to the FELG Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of FDCF and FELG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FDCF	FELG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	1.79	-0.50
Sharpe Ratio (All Time) Calculated using the full available price history	1.29	1.32	-0.03

Drawdowns

FDCF vs. FELG - Drawdown Comparison

The maximum FDCF drawdown since its inception was -22.53%, smaller than the maximum FELG drawdown of -23.89%. Use the drawdown chart below to compare losses from any high point for FDCF and FELG.

Drawdown Indicators

	FDCF	FELG	Difference
Max Drawdown Largest peak-to-trough decline	-22.53%	-23.89%	+1.36%
Max Drawdown (1Y) Largest decline over 1 year	-18.10%	-16.17%	-1.93%
Current Drawdown Current decline from peak	-1.90%	-1.34%	-0.56%
Average Drawdown Average peak-to-trough decline	-4.17%	-3.52%	-0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.97%	4.72%	+1.25%

Volatility

FDCF vs. FELG - Volatility Comparison

Fidelity Disruptive Communications ETF (FDCF) has a higher volatility of 4.28% compared to Fidelity Enhanced Large Cap Growth ETF (FELG) at 3.50%. This indicates that FDCF'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

	FDCF	FELG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	3.50%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	13.98%	11.59%	+2.39%
Volatility (1Y) Calculated over the trailing 1-year period	18.36%	15.46%	+2.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.58%	19.89%	+0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.58%	19.89%	+0.69%

FDCF vs. FELG - Expense Ratio Comparison

FDCF has a 0.50% expense ratio, which is higher than FELG's 0.18% expense ratio.

Dividends

FDCF vs. FELG - Dividend Comparison

FDCF's dividend yield for the trailing twelve months is around 0.03%, less than FELG's 0.34% yield.

Position	TTM	2025	2024	2023
FDCF Fidelity Disruptive Communications ETF	0.03%	0.09%	0.25%	0.19%
FELG Fidelity Enhanced Large Cap Growth ETF	0.34%	0.38%	0.44%	0.11%

Frequently Asked Questions

Can I hold both FDCF and FELG in my portfolio?

FDCF and FELG have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDCF or FELG?

FDCF has higher volatility (4.28%) compared to FELG (3.50%). In terms of maximum drawdown, FDCF dropped -22.53% vs FELG's -23.89%.

Which ETF is better, FDCF or FELG?

On 1-year performance, FELG leads with 27.58% vs 23.52% for FDCF. On fees, FELG is cheaper at 0.18% per year. On volatility, FELG has been the lower-risk option at 3.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDCF or FELG?

Over the 1-year period, FELG has performed better with a 27.58% return vs 23.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDCF or FELG?

FELG is cheaper with a 0.18% expense ratio, compared with 0.50% for FDCF.

Which ETF pays a higher dividend yield, FDCF or FELG?

FELG has the higher dividend yield at 0.34%, compared with 0.03% for FDCF.

What is the main difference between FDCF and FELG?

FDCF is categorized as Communications Equities, while FELG is Large Cap Growth Equities. Their fees differ too: 0.50% for FDCF and 0.18% for FELG.

Which has better risk-adjusted returns?

FELG currently has the higher Sharpe Ratio (1.79 vs 1.29), 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.