FELC vs. FETH

Last updated Aug 4, 2026

FELC (Fidelity Enhanced Large Cap Core ETF) and FETH (Fidelity Ethereum Fund) are both exchange-traded funds - FELC is a Large Cap Blend Equities fund actively managed by Fidelity, while FETH is a Cryptocurrency fund tracking the Fidelity Ethereum Reference Rate Index. FELC is actively managed, while FETH is passively managed. Over the past year, FELC returned 26.44% vs -46.78% for FETH. Their 0.50 correlation means they have sometimes moved together and sometimes differently. FELC charges 0.18%/yr vs 0.25%/yr for FETH.

Performance

FELC vs. FETH - Performance Comparison

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

Returns By Period

In the year-to-date period, FELC achieves a 13.57% return, which is significantly higher than FETH's -37.15% return.

FELC

• 1D: 1.34%
• 1M: 3.11%
• 6M: 11.53%
• YTD: 13.57%
• 1Y: 26.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.44%

FETH

• 1D: 0.16%
• 1M: 9.86%
• 6M: -19.58%
• YTD: -37.15%
• 1Y: -46.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.81%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FELC Fidelity Enhanced Large Cap Core ETF	$30.45M	$28.57M	$35.52M
FETH Fidelity Ethereum Fund	$29.41M	$29.69M	$35.01M

FELC vs. FETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FELC Fidelity Enhanced Large Cap Core ETF	13.57%	17.09%	6.55%
FETH Fidelity Ethereum Fund	-37.15%	-11.37%	-4.68%

Correlation

The correlation between FELC and FETH is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.51
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.50

The correlation between FELC and FETH has been stable across timeframes, ranging from 0.50 to 0.51 - a consistent structural relationship.

Return for Risk

FELC vs. FETH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FELC

FELC Risk / Return Rank: 84
FELC Sharpe Ratio Rank: 86
FELC Sortino Ratio Rank: 84
FELC Omega Ratio Rank: 84
FELC Calmar Ratio Rank: 80
FELC Martin Ratio Rank: 87

FETH

FETH Risk / Return Rank: 4
FETH Sharpe Ratio Rank: 3
FETH Sortino Ratio Rank: 4
FETH Omega Ratio Rank: 4
FETH Calmar Ratio Rank: 4
FETH Martin Ratio Rank: 5

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FELC vs. FETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Core ETF (FELC) and Fidelity Ethereum Fund (FETH). 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.

	FELC	FETH	Difference
Sharpe ratio: Return per unit of total volatility	2.06	-0.70	+2.76
Sortino ratio: Return per unit of downside risk	2.81	-0.85	+3.66
Omega ratio: Gain probability vs. loss probability	1.37	0.91	+0.46
Calmar ratio: Return relative to maximum drawdown	2.92	-0.69	+3.61
Martin ratio: Return relative to average drawdown	12.69	-1.03	+13.72

FELC vs. FETH - Sharpe Ratio Comparison

The current FELC Sharpe Ratio is 2.06, which is higher than the FETH Sharpe Ratio of -0.70. The chart below compares the historical Sharpe Ratios of FELC and FETH, 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

FELC vs. FETH - Drawdown Comparison

The maximum FELC drawdown since its inception was -18.59%, smaller than the maximum FETH drawdown of -67.94%. Use the drawdown chart below to compare losses from any high point for FELC and FETH.

Drawdown Indicators

	FELC	FETH	Difference
Max Drawdown Largest peak-to-trough decline	-18.59%	-67.94%	+49.35%
Max Drawdown (1Y) Largest decline over 1 year	-9.09%	-67.94%	+58.85%
Current Drawdown Current decline from peak	0.00%	-61.55%	+61.55%
Average Drawdown Average peak-to-trough decline	-1.89%	-35.30%	+33.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	45.61%	-43.52%

Volatility

FELC vs. FETH - Volatility Comparison

The current volatility for Fidelity Enhanced Large Cap Core ETF (FELC) is 3.81%, while Fidelity Ethereum Fund (FETH) has a volatility of 12.28%. This indicates that FELC experiences smaller price fluctuations and is considered to be less risky than FETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELC	FETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.81%	12.28%	-8.47%
Volatility (6M) Calculated over the trailing 6-month period	10.22%	45.60%	-35.38%
Volatility (1Y) Calculated over the trailing 1-year period	12.92%	67.10%	-54.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.17%	71.16%	-55.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.17%	71.16%	-55.99%

FELC vs. FETH - Expense Ratio Comparison

FELC has a 0.18% expense ratio, which is lower than FETH's 0.25% 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

FELC vs. FETH - Dividend Comparison

FELC's dividend yield for the trailing twelve months is around 0.83%, while FETH has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
FELC Fidelity Enhanced Large Cap Core ETF	0.83%	0.92%	1.03%	0.04%
FETH Fidelity Ethereum Fund	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FELC and FETH in my portfolio?

FELC and FETH have a correlation of 0.51, 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 FETH?

FETH has higher volatility (12.28%) compared to FELC (3.81%). In terms of maximum drawdown, FELC dropped -18.59% vs FETH's -67.94%.

Which ETF is better, FELC or FETH?

On 1-year performance, FELC leads with 26.44% vs -46.78% for FETH. On fees, FELC is cheaper at 0.18% per year. On volatility, FELC has been the lower-risk option at 3.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FELC or FETH?

Over the 1-year period, FELC has performed better with a 26.44% return vs -46.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FELC or FETH?

FELC is cheaper with a 0.18% expense ratio, compared with 0.25% for FETH.

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

FELC has the higher dividend yield at 0.83%, compared with 0.00% for FETH.

What is the main difference between FELC and FETH?

FELC is categorized as Large Cap Blend Equities, while FETH is Cryptocurrency. Their fees differ too: 0.18% for FELC and 0.25% for FETH.

Which has better risk-adjusted returns?

FELC currently has the higher Sharpe Ratio (2.06 vs -0.70), 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.