FELC vs. DLN

Last updated Jun 4, 2026

FELC (Fidelity Enhanced Large Cap Core ETF) and DLN (WisdomTree US LargeCap Dividend ETF) are both Large Cap Growth Equities funds. FELC is actively managed, while DLN is passively managed. Over the past year, FELC returned 28.58% vs 22.38% for DLN. A 0.78 correlation means they provide meaningful diversification when combined. FELC charges 0.18%/yr vs 0.28%/yr for DLN.

Performance

FELC vs. DLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Large Cap Core ETF (FELC) and WisdomTree US LargeCap Dividend ETF (DLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FELC achieves a 11.23% return, which is significantly higher than DLN's 9.93% return.

FELC

• 1D: -0.59%
• 1M: 5.59%
• YTD: 11.23%
• 6M: 11.57%
• 1Y: 28.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DLN

• 1D: -0.51%
• 1M: 2.93%
• YTD: 9.93%
• 6M: 9.96%
• 1Y: 22.38%
• 3Y*: 18.35%
• 5Y*: 12.22%
• 10Y*: 12.68%

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

FELC vs. DLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FELC Fidelity Enhanced Large Cap Core ETF	11.23%	17.09%	25.25%	5.68%
DLN WisdomTree US LargeCap Dividend ETF	9.93%	15.53%	19.66%	5.33%

Correlation

The correlation between FELC and DLN is 0.75, 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	0.75
Correlation (All Time) Calculated using the full available price history since Nov 21, 2023	0.78

The correlation between FELC and DLN has been stable across timeframes, ranging from 0.75 to 0.78 - a consistent structural relationship.

FELC vs. DLN - Sectors Allocation Comparison

Sectors	FELC	DLN
Technology	38.2%	20.1%
Communication Services	12.4%	7.8%
Financial Services	12.2%	18.0%
Consumer Cyclical	9.8%	5.0%
Industrials	9.6%	7.9%
Healthcare	7.4%	12.6%
Energy	3.7%	8.5%
Consumer Defensive	2.8%	9.3%
Basic Materials	1.5%	1.0%
Utilities	1.3%	5.9%
Real Estate	1.0%	4.0%

Return for Risk

FELC vs. DLN — Risk / Return Rank

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

FELC

FELC Risk / Return Rank: 70
FELC Sharpe Ratio Rank: 72
FELC Sortino Ratio Rank: 71
FELC Omega Ratio Rank: 71
FELC Calmar Ratio Rank: 63
FELC Martin Ratio Rank: 75

DLN

DLN Risk / Return Rank: 77
DLN Sharpe Ratio Rank: 76
DLN Sortino Ratio Rank: 80
DLN Omega Ratio Rank: 75
DLN Calmar Ratio Rank: 73
DLN Martin Ratio Rank: 79

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.

FELC vs. DLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Core ETF (FELC) and WisdomTree US LargeCap Dividend ETF (DLN). 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.

	FELC	DLN	Difference
Sharpe ratio: Return per unit of total volatility	2.41	2.53	-0.12
Sortino ratio: Return per unit of downside risk	3.29	3.64	-0.35
Omega ratio: Gain probability vs. loss probability	1.44	1.46	-0.02
Calmar ratio: Return relative to maximum drawdown	3.16	3.69	-0.53
Martin ratio: Return relative to average drawdown	14.66	15.59	-0.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FELC vs. DLN - Sharpe Ratio Comparison

The current FELC Sharpe Ratio is 2.41, which is comparable to the DLN Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of FELC and DLN, 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

	FELC	DLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	2.53	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.93	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.59	0.53	+1.06

Drawdowns

FELC vs. DLN - Drawdown Comparison

The maximum FELC drawdown since its inception was -18.59%, smaller than the maximum DLN drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for FELC and DLN.

Drawdown Indicators

	FELC	DLN	Difference
Max Drawdown Largest peak-to-trough decline	-18.59%	-57.84%	+39.25%
Max Drawdown (1Y) Largest decline over 1 year	-9.09%	-6.10%	-2.99%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.82%	—
Current Drawdown Current decline from peak	-0.59%	-0.51%	-0.08%
Average Drawdown Average peak-to-trough decline	-1.91%	-7.52%	+5.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.44%	+0.51%

Volatility

FELC vs. DLN - Volatility Comparison

Fidelity Enhanced Large Cap Core ETF (FELC) has a higher volatility of 2.78% compared to WisdomTree US LargeCap Dividend ETF (DLN) at 2.17%. This indicates that FELC's price experiences larger fluctuations and is considered to be riskier than DLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELC	DLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	2.17%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	8.93%	6.77%	+2.16%
Volatility (1Y) Calculated over the trailing 1-year period	11.90%	8.87%	+3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.17%	13.26%	+1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.17%	16.16%	-0.99%

FELC vs. DLN - Expense Ratio Comparison

FELC has a 0.18% expense ratio, which is lower than DLN's 0.28% expense ratio.

Dividends

FELC vs. DLN - Dividend Comparison

FELC's dividend yield for the trailing twelve months is around 0.85%, less than DLN's 1.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLN WisdomTree US LargeCap Dividend ETF	1.79%	1.90%	2.00%	2.43%	2.53%	2.01%	2.66%	2.51%	2.90%	2.33%	2.64%	2.80%
FELC Fidelity Enhanced Large Cap Core ETF	0.85%	0.92%	1.03%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FELC and DLN in my portfolio?

FELC and DLN have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FELC or DLN?

FELC has higher volatility (2.78%) compared to DLN (2.17%). In terms of maximum drawdown, FELC dropped -18.59% vs DLN's -57.84%.

Which ETF is better, FELC or DLN?

On 1-year performance, FELC leads with 28.58% vs 22.38% for DLN. On fees, FELC is cheaper at 0.18% per year. On volatility, DLN has been the lower-risk option at 2.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FELC or DLN?

Over the 1-year period, FELC has performed better with a 28.58% return vs 22.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FELC or DLN?

FELC is cheaper with a 0.18% expense ratio, compared with 0.28% for DLN.

Which ETF pays a higher dividend yield, FELC or DLN?

DLN has the higher dividend yield at 1.79%, compared with 0.85% for FELC.

What is the main difference between FELC and DLN?

They also come from different issuers: Fidelity and WisdomTree. Their fees differ too: 0.18% for FELC and 0.28% for DLN.

Which has better risk-adjusted returns?

DLN currently has the higher Sharpe Ratio (2.53 vs 2.41), 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.