FDRV vs. FELG

Last updated Jun 4, 2026

FDRV (Fidelity Electric Vehicles and Future Transportation ETF) and FELG (Fidelity Enhanced Large Cap Growth ETF) are both exchange-traded funds - FDRV is a Transportation 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, FDRV returned 53.50% vs 27.58% for FELG. A 0.58 correlation means they provide meaningful diversification when combined. FDRV charges 0.39%/yr vs 0.18%/yr for FELG.

Performance

FDRV vs. FELG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Electric Vehicles and Future Transportation ETF (FDRV) 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, FDRV achieves a 30.92% return, which is significantly higher than FELG's 7.70% return.

FDRV

• 1D: -0.86%
• 1M: 11.72%
• YTD: 30.92%
• 6M: 29.26%
• 1Y: 53.50%
• 3Y*: 7.13%
• 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)

FDRV vs. FELG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FDRV Fidelity Electric Vehicles and Future Transportation ETF	30.92%	24.32%	-21.73%	7.28%
FELG Fidelity Enhanced Large Cap Growth ETF	7.70%	18.44%	35.45%	4.20%

Correlation

The correlation between FDRV and FELG is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (All Time) Calculated using the full available price history since Nov 21, 2023	0.58

The correlation between FDRV and FELG has been stable across timeframes, ranging from 0.58 to 0.63 - a consistent structural relationship.

FDRV vs. FELG - Sectors Allocation Comparison

Sectors	FDRV	FELG
Consumer Cyclical	42.8%	11.5%
Technology	40.7%	53.9%
Industrials	12.3%	7.2%
Basic Materials	4.3%	0.5%
Communication Services	-	13.8%
Consumer Defensive	-	1.0%
Energy	-	1.1%
Financial Services	-	4.7%
Healthcare	-	6.3%
Real Estate	-	0.0%
Utilities	-	0.1%

Return for Risk

FDRV vs. FELG — Risk / Return Rank

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

FDRV

FDRV Risk / Return Rank: 62
FDRV Sharpe Ratio Rank: 65
FDRV Sortino Ratio Rank: 60
FDRV Omega Ratio Rank: 58
FDRV Calmar Ratio Rank: 69
FDRV Martin Ratio Rank: 60

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.

FDRV vs. FELG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Electric Vehicles and Future Transportation ETF (FDRV) 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.

	FDRV	FELG	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.79	+0.35
Sortino ratio: Return per unit of downside risk	2.83	2.45	+0.38
Omega ratio: Gain probability vs. loss probability	1.36	1.31	+0.05
Calmar ratio: Return relative to maximum drawdown	3.44	1.71	+1.73
Martin ratio: Return relative to average drawdown	10.66	5.86	+4.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDRV vs. FELG - Sharpe Ratio Comparison

The current FDRV Sharpe Ratio is 2.15, which is comparable to the FELG Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of FDRV 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

	FDRV	FELG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	1.79	+0.35
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	1.32	-1.43

Drawdowns

FDRV vs. FELG - Drawdown Comparison

The maximum FDRV drawdown since its inception was -63.89%, which is greater than FELG's maximum drawdown of -23.89%. Use the drawdown chart below to compare losses from any high point for FDRV and FELG.

Drawdown Indicators

	FDRV	FELG	Difference
Max Drawdown Largest peak-to-trough decline	-63.89%	-23.89%	-40.00%
Max Drawdown (1Y) Largest decline over 1 year	-15.62%	-16.17%	+0.55%
Max Drawdown (3Y) Largest decline over 3 years	-48.45%	—	—
Current Drawdown Current decline from peak	-27.57%	-1.34%	-26.23%
Average Drawdown Average peak-to-trough decline	-42.35%	-3.52%	-38.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.03%	4.72%	+0.31%

Volatility

FDRV vs. FELG - Volatility Comparison

Fidelity Electric Vehicles and Future Transportation ETF (FDRV) has a higher volatility of 9.01% compared to Fidelity Enhanced Large Cap Growth ETF (FELG) at 3.50%. This indicates that FDRV'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

	FDRV	FELG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.01%	3.50%	+5.51%
Volatility (6M) Calculated over the trailing 6-month period	18.49%	11.59%	+6.90%
Volatility (1Y) Calculated over the trailing 1-year period	25.09%	15.46%	+9.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.03%	19.89%	+12.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.03%	19.89%	+12.14%

FDRV vs. FELG - Expense Ratio Comparison

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

Dividends

FDRV vs. FELG - Dividend Comparison

FDRV's dividend yield for the trailing twelve months is around 1.02%, more than FELG's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021
FDRV Fidelity Electric Vehicles and Future Transportation ETF	1.02%	1.14%	0.43%	0.24%	0.33%	0.04%
FELG Fidelity Enhanced Large Cap Growth ETF	0.34%	0.38%	0.44%	0.11%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDRV and FELG in my portfolio?

FDRV and FELG have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDRV or FELG?

FDRV has higher volatility (9.01%) compared to FELG (3.50%). In terms of maximum drawdown, FDRV dropped -63.89% vs FELG's -23.89%.

Which ETF is better, FDRV or FELG?

On 1-year performance, FDRV leads with 53.50% vs 27.58% for FELG. 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, FDRV or FELG?

Over the 1-year period, FDRV has performed better with a 53.50% return vs 27.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDRV or FELG?

FELG is cheaper with a 0.18% expense ratio, compared with 0.39% for FDRV.

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

FDRV has the higher dividend yield at 1.02%, compared with 0.34% for FELG.

What is the main difference between FDRV and FELG?

FDRV is categorized as Transportation Equities, while FELG is Large Cap Growth Equities. Their fees differ too: 0.39% for FDRV and 0.18% for FELG.

Which has better risk-adjusted returns?

FDRV currently has the higher Sharpe Ratio (2.15 vs 1.79), 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.