FELC vs. FBRNX

Last updated Jun 5, 2026

FELC (Fidelity Enhanced Large Cap Core ETF) and FBRNX (Fidelity Advisor Stock Selector All Cap Fund Class I) are both Large Cap Growth Equities funds from Fidelity. Over the past year, FELC returned 28.95% vs 36.34% for FBRNX. With a 0.96 correlation, they move nearly in lockstep. FELC charges 0.18%/yr vs 0.62%/yr for FBRNX.

Performance

FELC vs. FBRNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Large Cap Core ETF (FELC) and Fidelity Advisor Stock Selector All Cap Fund Class I (FBRNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FELC achieves a 11.52% return, which is significantly lower than FBRNX's 15.11% return.

FELC

• 1D: 0.26%
• 1M: 4.92%
• YTD: 11.52%
• 6M: 11.63%
• 1Y: 28.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FBRNX

• 1D: -0.60%
• 1M: 4.32%
• YTD: 15.11%
• 6M: 15.54%
• 1Y: 36.34%
• 3Y*: 22.56%
• 5Y*: 12.74%
• 10Y*: 15.24%

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

FELC vs. FBRNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FELC Fidelity Enhanced Large Cap Core ETF	11.52%	17.09%	25.25%	5.68%
FBRNX Fidelity Advisor Stock Selector All Cap Fund Class I	15.11%	18.84%	19.74%	6.47%

Correlation

The correlation between FELC and FBRNX 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, 2023	0.96

The correlation between FELC and FBRNX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

FELC vs. FBRNX — Risk / Return Rank

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

FELC

FELC Risk / Return Rank: 74
FELC Sharpe Ratio Rank: 76
FELC Sortino Ratio Rank: 75
FELC Omega Ratio Rank: 75
FELC Calmar Ratio Rank: 65
FELC Martin Ratio Rank: 78

FBRNX

FBRNX Risk / Return Rank: 85
FBRNX Sharpe Ratio Rank: 87
FBRNX Sortino Ratio Rank: 80
FBRNX Omega Ratio Rank: 79
FBRNX Calmar Ratio Rank: 85
FBRNX Martin Ratio Rank: 93

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. FBRNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Core ETF (FELC) and Fidelity Advisor Stock Selector All Cap Fund Class I (FBRNX). 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	FBRNX	Difference
Sharpe ratio: Return per unit of total volatility	2.45	2.82	-0.38
Sortino ratio: Return per unit of downside risk	3.33	3.80	-0.47
Omega ratio: Gain probability vs. loss probability	1.44	1.51	-0.07
Calmar ratio: Return relative to maximum drawdown	3.20	3.98	-0.78
Martin ratio: Return relative to average drawdown	14.86	19.28	-4.43
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. FBRNX - Sharpe Ratio Comparison

The current FELC Sharpe Ratio is 2.45, which is comparable to the FBRNX Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of FELC and FBRNX, 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	FBRNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.45	2.82	-0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.72	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	0.83	+0.77

Drawdowns

FELC vs. FBRNX - Drawdown Comparison

The maximum FELC drawdown since its inception was -18.59%, smaller than the maximum FBRNX drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for FELC and FBRNX.

Drawdown Indicators

	FELC	FBRNX	Difference
Max Drawdown Largest peak-to-trough decline	-18.59%	-34.37%	+15.78%
Max Drawdown (1Y) Largest decline over 1 year	-9.09%	-9.21%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.87%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.29%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.37%	—
Current Drawdown Current decline from peak	-0.33%	-0.60%	+0.27%
Average Drawdown Average peak-to-trough decline	-1.91%	-4.43%	+2.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.90%	+0.05%

Volatility

FELC vs. FBRNX - Volatility Comparison

The current volatility for Fidelity Enhanced Large Cap Core ETF (FELC) is 2.70%, while Fidelity Advisor Stock Selector All Cap Fund Class I (FBRNX) has a volatility of 3.46%. This indicates that FELC experiences smaller price fluctuations and is considered to be less risky than FBRNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELC	FBRNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	3.46%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	8.93%	10.01%	-1.08%
Volatility (1Y) Calculated over the trailing 1-year period	11.89%	13.00%	-1.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.16%	17.76%	-2.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.16%	18.56%	-3.40%

FELC vs. FBRNX - Expense Ratio Comparison

FELC has a 0.18% expense ratio, which is lower than FBRNX's 0.62% expense ratio.

Dividends

FELC vs. FBRNX - Dividend Comparison

FELC's dividend yield for the trailing twelve months is around 0.85%, less than FBRNX's 3.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBRNX Fidelity Advisor Stock Selector All Cap Fund Class I	3.99%	4.60%	4.66%	1.94%	0.35%	0.00%	5.15%	5.28%	4.39%	3.07%	0.99%	5.06%
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 FBRNX in my portfolio?

With a correlation of 0.97, FELC and FBRNX 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.

Which is riskier, FELC or FBRNX?

FBRNX has higher volatility (3.46%) compared to FELC (2.70%). In terms of maximum drawdown, FELC dropped -18.59% vs FBRNX's -34.37%.

Which has better risk-adjusted returns?

FBRNX currently has the higher Sharpe Ratio (2.82 vs 2.45), 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.