FEAC vs. IWV
FEAC (Fidelity Enhanced U.S. All-Cap Equity ETF) and IWV (iShares Russell 3000 ETF) are both Large Cap Blend Equities funds. FEAC is actively managed, while IWV is passively managed. Over the past year, FEAC returned 26.41% vs 23.69% for IWV. With a 0.97 correlation, they move nearly in lockstep. FEAC charges 0.18%/yr vs 0.20%/yr for IWV.
Performance
FEAC vs. IWV - Performance Comparison
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Returns By Period
In the year-to-date period, FEAC achieves a 9.92% return, which is significantly higher than IWV's 8.58% return.
FEAC
- 1D
- -1.46%
- 1M
- -0.04%
- YTD
- 9.92%
- 6M
- 8.83%
- 1Y
- 26.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWV
- 1D
- -1.30%
- 1M
- -0.78%
- YTD
- 8.58%
- 6M
- 7.48%
- 1Y
- 23.69%
- 3Y*
- 20.38%
- 5Y*
- 11.79%
- 10Y*
- 14.98%
FEAC vs. IWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FEAC Fidelity Enhanced U.S. All-Cap Equity ETF | 9.92% | 18.01% | -1.87% |
IWV iShares Russell 3000 ETF | 8.58% | 16.96% | -0.88% |
Correlation
The correlation between FEAC and IWV is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024 | 0.97 |
The correlation between FEAC and IWV has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.
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Return for Risk
FEAC vs. IWV — Risk / Return Rank
FEAC
IWV
FEAC vs. IWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced U.S. All-Cap Equity ETF (FEAC) and iShares Russell 3000 ETF (IWV). 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.
| FEAC | IWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.34 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 2.68 | +0.58 |
| Martin ratioReturn relative to average drawdown | 13.64 | 11.92 | +1.71 |
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Drawdowns
FEAC vs. IWV - Drawdown Comparison
The maximum FEAC drawdown since its inception was -18.96%, smaller than the maximum IWV drawdown of -55.61%. Use the drawdown chart below to compare losses from any high point for FEAC and IWV.
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Drawdown Indicators
| FEAC | IWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.96% | -55.61% | +36.65% |
Max Drawdown (1Y)Largest decline over 1 year | -8.15% | -8.89% | +0.74% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.28% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.22% | — |
Current DrawdownCurrent decline from peak | -2.75% | -2.74% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -10.57% | +8.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.94% | 1.99% | -0.05% |
Volatility
FEAC vs. IWV - Volatility Comparison
Fidelity Enhanced U.S. All-Cap Equity ETF (FEAC) has a higher volatility of 5.35% compared to iShares Russell 3000 ETF (IWV) at 4.84%. This indicates that FEAC's price experiences larger fluctuations and is considered to be riskier than IWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEAC | IWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.35% | 4.84% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 9.97% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.30% | 12.72% | +0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.64% | 17.33% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.64% | 18.41% | -0.77% |
FEAC vs. IWV - Expense Ratio Comparison
FEAC has a 0.18% expense ratio, which is lower than IWV's 0.20% 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
FEAC vs. IWV - Dividend Comparison
FEAC's dividend yield for the trailing twelve months is around 0.79%, less than IWV's 0.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEAC Fidelity Enhanced U.S. All-Cap Equity ETF | 0.79% | 0.94% | 0.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IWV iShares Russell 3000 ETF | 0.89% | 0.96% | 1.08% | 1.30% | 1.56% | 1.04% | 1.30% | 1.69% | 1.97% | 1.58% | 1.79% | 1.99% |
Frequently Asked Questions
With a correlation of 0.97, FEAC and IWV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FEAC has higher volatility (5.35%) compared to IWV (4.84%). In terms of maximum drawdown, FEAC dropped -18.96% vs IWV's -55.61%.
On 1-year performance, FEAC leads with 26.41% vs 23.69% for IWV. On fees, FEAC is cheaper at 0.18% per year. On volatility, IWV has been the lower-risk option at 4.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FEAC has performed better with a 26.41% return vs 23.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FEAC is cheaper with a 0.18% expense ratio, compared with 0.20% for IWV.
IWV has the higher dividend yield at 0.89%, compared with 0.79% for FEAC.
They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.18% for FEAC and 0.20% for IWV.
FEAC currently has the higher Sharpe Ratio (2.00 vs 1.87), 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.
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