FDMO vs. FELG

Last updated Aug 4, 2026

FDMO (Fidelity Momentum Factor ETF) and FELG (Fidelity Enhanced Large Cap Growth ETF) are both exchange-traded funds - FDMO is a Momentum fund tracking the Fidelity U.S. Momentum Factor Index, while FELG is a Large Cap Growth Equities fund actively managed by Fidelity. FDMO is passively managed, while FELG is actively managed. Over the past year, FDMO returned 22.87% vs 16.43% for FELG. Their correlation of 0.90 means they have usually moved in the same direction. FDMO charges 0.29%/yr vs 0.18%/yr for FELG.

Performance

FDMO vs. FELG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Momentum Factor ETF (FDMO) 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, FDMO achieves a 11.50% return, which is significantly higher than FELG's 4.21% return.

FDMO

• 1D: 1.29%
• 1M: -1.50%
• 6M: 8.79%
• YTD: 11.50%
• 1Y: 22.87%
• 3Y*: 25.49%
• 5Y*: 14.22%
• 10Y*: —
• ALL TIME*: 15.38%

FELG

• 1D: 1.95%
• 1M: 0.86%
• 6M: 5.50%
• YTD: 4.21%
• 1Y: 16.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.87%

*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)
FDMO Fidelity Momentum Factor ETF	$8.23M	$8.36M	$6.07M
FELG Fidelity Enhanced Large Cap Growth ETF	$14.74M	$13.52M	$19.60M

FDMO vs. FELG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FDMO Fidelity Momentum Factor ETF	11.50%	21.43%	32.78%	6.64%
FELG Fidelity Enhanced Large Cap Growth ETF	4.21%	18.44%	35.45%	4.37%

Correlation

The correlation between FDMO and FELG is 0.86, 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.	0.86
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.90

The correlation between FDMO and FELG has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

FDMO vs. FELG - Sectors Allocation Comparison

Sectors	FDMO	FELG
Technology	39.9%	55.9%
Financial Services	11.6%	4.6%
Healthcare	9.3%	5.7%
Industrials	9.3%	8.4%
Consumer Cyclical	8.9%	8.6%
Communication Services	8.4%	14.7%
Consumer Defensive	3.8%	1.2%
Energy	2.9%	0.7%
Utilities	2.1%	1.2%
Real Estate	2.0%	0.1%
Basic Materials	1.9%	0.1%

Return for Risk

FDMO vs. FELG — Risk / Return Rank

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

FDMO

FDMO Risk / Return Rank: 49
FDMO Sharpe Ratio Rank: 47
FDMO Sortino Ratio Rank: 46
FDMO Omega Ratio Rank: 45
FDMO Calmar Ratio Rank: 52
FDMO Martin Ratio Rank: 55

FELG

FELG Risk / Return Rank: 35
FELG Sharpe Ratio Rank: 38
FELG Sortino Ratio Rank: 37
FELG Omega Ratio Rank: 36
FELG Calmar Ratio Rank: 31
FELG Martin Ratio Rank: 33

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.

FDMO vs. FELG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Momentum Factor ETF (FDMO) 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.

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.

	FDMO	FELG	Difference
Sharpe ratio: Return per unit of total volatility	1.20	0.96	+0.24
Sortino ratio: Return per unit of downside risk	1.72	1.41	+0.31
Omega ratio: Gain probability vs. loss probability	1.21	1.17	+0.04
Calmar ratio: Return relative to maximum drawdown	1.88	1.02	+0.86
Martin ratio: Return relative to average drawdown	6.60	3.17	+3.43

FDMO vs. FELG - Sharpe Ratio Comparison

The current FDMO Sharpe Ratio is 1.20, which is comparable to the FELG Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of FDMO 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.

Drawdowns

FDMO vs. FELG - Drawdown Comparison

The maximum FDMO drawdown since its inception was -33.94%, which is greater than FELG's maximum drawdown of -23.89%. Use the drawdown chart below to compare losses from any high point for FDMO and FELG.

Drawdown Indicators

	FDMO	FELG	Difference
Max Drawdown Largest peak-to-trough decline	-33.94%	-23.89%	-10.05%
Max Drawdown (1Y) Largest decline over 1 year	-12.22%	-16.17%	+3.95%
Max Drawdown (3Y) Largest decline over 3 years	-21.88%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.44%	—	—
Current Drawdown Current decline from peak	-5.32%	-4.54%	-0.78%
Average Drawdown Average peak-to-trough decline	-5.38%	-3.62%	-1.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	5.20%	-1.72%

Volatility

FDMO vs. FELG - Volatility Comparison

Fidelity Momentum Factor ETF (FDMO) and Fidelity Enhanced Large Cap Growth ETF (FELG) have volatilities of 6.48% and 6.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDMO	FELG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.48%	6.31%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	15.86%	13.86%	+2.00%
Volatility (1Y) Calculated over the trailing 1-year period	19.18%	17.29%	+1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.46%	20.04%	-0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.63%	20.04%	-0.41%

FDMO vs. FELG - Expense Ratio Comparison

FDMO has a 0.29% expense ratio, which is higher than FELG's 0.18% expense ratio.

Dividends

FDMO vs. FELG - Dividend Comparison

FDMO's dividend yield for the trailing twelve months is around 0.61%, more than FELG's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDMO Fidelity Momentum Factor ETF	0.61%	0.61%	0.90%	0.87%	1.19%	0.60%	0.77%	1.23%	1.22%	1.09%	0.45%
FELG Fidelity Enhanced Large Cap Growth ETF	0.36%	0.38%	0.44%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDMO and FELG in my portfolio?

FDMO and FELG have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDMO or FELG?

FDMO has higher volatility (6.48%) compared to FELG (6.31%). In terms of maximum drawdown, FDMO dropped -33.94% vs FELG's -23.89%.

Which ETF is better, FDMO or FELG?

On 1-year performance, FDMO leads with 22.87% vs 16.43% for FELG. On fees, FELG is cheaper at 0.18% per year. On volatility, FELG has been the lower-risk option at 6.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDMO or FELG?

Over the 1-year period, FDMO has performed better with a 22.87% return vs 16.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDMO or FELG?

FELG is cheaper with a 0.18% expense ratio, compared with 0.29% for FDMO.

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

FDMO has the higher dividend yield at 0.61%, compared with 0.36% for FELG.

What is the main difference between FDMO and FELG?

FDMO is categorized as Momentum, while FELG is Large Cap Growth Equities. Their fees differ too: 0.29% for FDMO and 0.18% for FELG.

Which has better risk-adjusted returns?

FDMO currently has the higher Sharpe Ratio (1.20 vs 0.96), 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.