FDRR vs. FELG

Last updated Jun 24, 2026

FDRR (Fidelity Dividend ETF for Rising Rates) and FELG (Fidelity Enhanced Large Cap Growth ETF) are both exchange-traded funds - FDRR is a Large Cap Blend Equities fund tracking the Fidelity Dividend Index for Rising Rates, while FELG is a Large Cap Growth Equities fund actively managed by Fidelity. FDRR is passively managed, while FELG is actively managed. Over the past year, FDRR returned 26.53% vs 20.00% for FELG. A 0.79 correlation means they provide meaningful diversification when combined. FDRR charges 0.15%/yr vs 0.18%/yr for FELG.

Performance

FDRR vs. FELG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Dividend ETF for Rising Rates (FDRR) 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, FDRR achieves a 7.87% return, which is significantly higher than FELG's 2.26% return.

FDRR

• 1D: -0.04%
• 1M: -0.38%
• YTD: 7.87%
• 6M: 7.46%
• 1Y: 26.53%
• 3Y*: 20.07%
• 5Y*: 12.13%
• 10Y*: —

FELG

• 1D: -1.73%
• 1M: -3.56%
• YTD: 2.26%
• 6M: 0.98%
• 1Y: 20.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FDRR vs. FELG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FDRR Fidelity Dividend ETF for Rising Rates	7.87%	21.70%	20.24%	6.76%
FELG Fidelity Enhanced Large Cap Growth ETF	2.26%	18.44%	35.45%	4.37%

Correlation

The correlation between FDRR and FELG is 0.80, 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	0.80
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.79

The correlation between FDRR and FELG has been stable across timeframes, ranging from 0.79 to 0.80 - a consistent structural relationship.

FDRR vs. FELG - Sectors Allocation Comparison

Sectors	FDRR	FELG
Technology	38.2%	54.2%
Financial Services	11.3%	4.4%
Communication Services	10.1%	12.2%
Healthcare	9.3%	7.0%
Industrials	8.3%	6.1%
Consumer Cyclical	8.2%	11.4%
Consumer Defensive	4.5%	1.3%
Energy	3.2%	0.7%
Real Estate	2.8%	0.1%
Utilities	2.1%	1.0%
Basic Materials	2.0%	0.0%

Return for Risk

FDRR vs. FELG — Risk / Return Rank

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

FDRR

FDRR Risk / Return Rank: 74
FDRR Sharpe Ratio Rank: 78
FDRR Sortino Ratio Rank: 79
FDRR Omega Ratio Rank: 77
FDRR Calmar Ratio Rank: 66
FDRR Martin Ratio Rank: 72

FELG

FELG Risk / Return Rank: 32
FELG Sharpe Ratio Rank: 35
FELG Sortino Ratio Rank: 34
FELG Omega Ratio Rank: 34
FELG Calmar Ratio Rank: 26
FELG Martin Ratio Rank: 30

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.

FDRR vs. FELG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Dividend ETF for Rising Rates (FDRR) 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.

	FDRR	FELG	Difference
Sharpe ratio: Return per unit of total volatility	2.37	1.24	+1.14
Sortino ratio: Return per unit of downside risk	3.30	1.73	+1.57
Omega ratio: Gain probability vs. loss probability	1.43	1.22	+0.21
Calmar ratio: Return relative to maximum drawdown	3.13	1.24	+1.89
Martin ratio: Return relative to average drawdown	12.81	4.14	+8.67

FDRR vs. FELG - Sharpe Ratio Comparison

The current FDRR Sharpe Ratio is 2.37, which is higher than the FELG Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of FDRR 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

FDRR vs. FELG - Drawdown Comparison

The maximum FDRR drawdown since its inception was -36.52%, which is greater than FELG's maximum drawdown of -23.89%. Use the drawdown chart below to compare losses from any high point for FDRR and FELG.

Drawdown Indicators

	FDRR	FELG	Difference
Max Drawdown Largest peak-to-trough decline	-36.52%	-23.89%	-12.63%
Max Drawdown (1Y) Largest decline over 1 year	-8.52%	-16.17%	+7.65%
Max Drawdown (3Y) Largest decline over 3 years	-18.04%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	—	—
Current Drawdown Current decline from peak	-3.08%	-6.32%	+3.24%
Average Drawdown Average peak-to-trough decline	-4.00%	-3.54%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	4.84%	-2.76%

Volatility

FDRR vs. FELG - Volatility Comparison

The current volatility for Fidelity Dividend ETF for Rising Rates (FDRR) is 3.79%, while Fidelity Enhanced Large Cap Growth ETF (FELG) has a volatility of 6.15%. This indicates that FDRR experiences smaller price fluctuations and is considered to be less risky than FELG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDRR	FELG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	6.15%	-2.36%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	12.66%	-3.98%
Volatility (1Y) Calculated over the trailing 1-year period	11.25%	16.29%	-5.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.02%	20.00%	-4.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.86%	20.00%	-3.14%

FDRR vs. FELG - Expense Ratio Comparison

FDRR has a 0.15% expense ratio, which is lower than FELG'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

FDRR vs. FELG - Dividend Comparison

FDRR's dividend yield for the trailing twelve months is around 2.16%, more than FELG's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDRR Fidelity Dividend ETF for Rising Rates	2.16%	2.21%	2.61%	2.93%	2.75%	2.09%	2.85%	2.89%	3.20%	2.89%	0.61%
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 FDRR and FELG in my portfolio?

FDRR and FELG have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDRR or FELG?

FELG has higher volatility (6.15%) compared to FDRR (3.79%). In terms of maximum drawdown, FDRR dropped -36.52% vs FELG's -23.89%.

Which ETF is better, FDRR or FELG?

On 1-year performance, FDRR leads with 26.53% vs 20.00% for FELG. On fees, FDRR is cheaper at 0.15% per year. On volatility, FDRR has been the lower-risk option at 3.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDRR or FELG?

Over the 1-year period, FDRR has performed better with a 26.53% return vs 20.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDRR or FELG?

FDRR is cheaper with a 0.15% expense ratio, compared with 0.18% for FELG.

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

FDRR has the higher dividend yield at 2.16%, compared with 0.36% for FELG.

What is the main difference between FDRR and FELG?

FDRR is categorized as Large Cap Blend Equities, while FELG is Large Cap Growth Equities. Their fees differ too: 0.15% for FDRR and 0.18% for FELG.

Which has better risk-adjusted returns?

FDRR currently has the higher Sharpe Ratio (2.37 vs 1.24), 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.