FDVV vs. VWENX

Last updated Jun 14, 2026

FDVV (Fidelity High Dividend ETF) and VWENX (Vanguard Wellington Fund Admiral Shares) are both funds - FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index, while VWENX is a Diversified Portfolio fund actively managed by Vanguard. FDVV is passively managed, while VWENX is actively managed. Over the past 5 years, FDVV returned 13.53%/yr vs 8.43%/yr for VWENX. Their correlation of 0.86 suggests significant overlap in exposure. FDVV charges 0.29%/yr vs 0.16%/yr for VWENX.

Performance

FDVV vs. VWENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity High Dividend ETF (FDVV) and Vanguard Wellington Fund Admiral Shares (VWENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDVV achieves a 9.30% return, which is significantly higher than VWENX's 5.10% return.

FDVV

• 1D: 0.57%
• 1M: 2.54%
• YTD: 9.30%
• 6M: 9.44%
• 1Y: 23.92%
• 3Y*: 19.75%
• 5Y*: 13.53%
• 10Y*: —

VWENX

• 1D: 1.32%
• 1M: -1.12%
• YTD: 5.10%
• 6M: 5.87%
• 1Y: 18.41%
• 3Y*: 14.75%
• 5Y*: 8.43%
• 10Y*: 10.13%

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

FDVV vs. VWENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDVV Fidelity High Dividend ETF	9.30%	17.08%	21.81%	18.00%	-4.21%	29.24%	2.80%	24.07%	-1.26%	14.00%
VWENX Vanguard Wellington Fund Admiral Shares	5.10%	16.63%	14.82%	14.40%	-14.31%	19.09%	10.66%	22.61%	-3.35%	14.05%

Correlation

The correlation between FDVV and VWENX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.86

The correlation between FDVV and VWENX has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.

Return for Risk

FDVV vs. VWENX — Risk / Return Rank

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

FDVV

FDVV Risk / Return Rank: 73
FDVV Sharpe Ratio Rank: 81
FDVV Sortino Ratio Rank: 82
FDVV Omega Ratio Rank: 81
FDVV Calmar Ratio Rank: 56
FDVV Martin Ratio Rank: 64

VWENX

VWENX Risk / Return Rank: 74
VWENX Sharpe Ratio Rank: 74
VWENX Sortino Ratio Rank: 72
VWENX Omega Ratio Rank: 73
VWENX Calmar Ratio Rank: 70
VWENX Martin Ratio Rank: 81

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.

FDVV vs. VWENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity High Dividend ETF (FDVV) and Vanguard Wellington Fund Admiral Shares (VWENX). 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.

	FDVV	VWENX	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.02	+0.22
Sortino ratio: Return per unit of downside risk	3.14	2.80	+0.33
Omega ratio: Gain probability vs. loss probability	1.41	1.38	+0.04
Calmar ratio: Return relative to maximum drawdown	2.44	2.64	-0.20
Martin ratio: Return relative to average drawdown	10.11	11.92	-1.81

FDVV vs. VWENX - Sharpe Ratio Comparison

The current FDVV Sharpe Ratio is 2.24, which is comparable to the VWENX Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of FDVV and VWENX, 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

FDVV vs. VWENX - Drawdown Comparison

The maximum FDVV drawdown since its inception was -40.25%, which is greater than VWENX's maximum drawdown of -36.02%. Use the drawdown chart below to compare losses from any high point for FDVV and VWENX.

Drawdown Indicators

	FDVV	VWENX	Difference
Max Drawdown Largest peak-to-trough decline	-40.25%	-36.02%	-4.23%
Max Drawdown (1Y) Largest decline over 1 year	-9.30%	-6.77%	-2.53%
Max Drawdown (3Y) Largest decline over 3 years	-15.90%	-11.98%	-3.92%
Max Drawdown (5Y) Largest decline over 5 years	-20.18%	-20.84%	+0.66%
Max Drawdown (10Y) Largest decline over 10 years	—	-25.33%	—
Current Drawdown Current decline from peak	-0.29%	-1.92%	+1.63%
Average Drawdown Average peak-to-trough decline	-3.80%	-4.35%	+0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	1.50%	+0.74%

Volatility

FDVV vs. VWENX - Volatility Comparison

The current volatility for Fidelity High Dividend ETF (FDVV) is 3.16%, while Vanguard Wellington Fund Admiral Shares (VWENX) has a volatility of 3.50%. This indicates that FDVV experiences smaller price fluctuations and is considered to be less risky than VWENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDVV	VWENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.16%	3.50%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	8.16%	7.21%	+0.95%
Volatility (1Y) Calculated over the trailing 1-year period	10.12%	8.83%	+1.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.76%	11.20%	+3.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.98%	11.56%	+5.42%

FDVV vs. VWENX - Expense Ratio Comparison

FDVV has a 0.29% expense ratio, which is higher than VWENX's 0.16% expense ratio.

Dividends

FDVV vs. VWENX - Dividend Comparison

FDVV's dividend yield for the trailing twelve months is around 2.70%, less than VWENX's 11.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDVV Fidelity High Dividend ETF	2.70%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%	0.00%
VWENX Vanguard Wellington Fund Admiral Shares	11.05%	11.55%	10.85%	6.08%	8.28%	8.72%	7.85%	4.74%	9.58%	5.88%	4.53%	6.58%

Frequently Asked Questions

Can I hold both FDVV and VWENX in my portfolio?

FDVV and VWENX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDVV or VWENX?

VWENX has higher volatility (3.50%) compared to FDVV (3.16%). In terms of maximum drawdown, FDVV dropped -40.25% vs VWENX's -36.02%.

Which has better risk-adjusted returns?

FDVV currently has the higher Sharpe Ratio (2.24 vs 2.02), 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.