FELC vs. FSPGX

Last updated Jun 17, 2026

FELC (Fidelity Enhanced Large Cap Core ETF) and FSPGX (Fidelity Large Cap Growth Index Fund) are both funds - FELC is a Large Cap Blend Equities fund actively managed by Fidelity, while FSPGX is a Large Cap Growth Equities fund managed by Fidelity. Over the past year, FELC returned 26.55% vs 21.90% for FSPGX. Their correlation of 0.93 suggests significant overlap in exposure. FELC charges 0.18%/yr vs 0.04%/yr for FSPGX.

Performance

FELC vs. FSPGX - Performance Comparison

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

Returns By Period

In the year-to-date period, FELC achieves a 10.47% return, which is significantly higher than FSPGX's 5.36% return.

FELC

• 1D: -0.45%
• 1M: 1.59%
• YTD: 10.47%
• 6M: 11.36%
• 1Y: 26.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FSPGX

• 1D: 2.29%
• 1M: 0.04%
• YTD: 5.36%
• 6M: 6.12%
• 1Y: 21.90%
• 3Y*: 23.01%
• 5Y*: 14.62%
• 10Y*: —

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

FELC vs. FSPGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FELC Fidelity Enhanced Large Cap Core ETF	10.47%	17.09%	25.25%	6.06%
FSPGX Fidelity Large Cap Growth Index Fund	5.36%	18.54%	33.27%	5.57%

Correlation

The correlation between FELC and FSPGX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.93

The correlation between FELC and FSPGX has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.

Return for Risk

FELC vs. FSPGX — Risk / Return Rank

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

FELC

FELC Risk / Return Rank: 67
FELC Sharpe Ratio Rank: 68
FELC Sortino Ratio Rank: 66
FELC Omega Ratio Rank: 68
FELC Calmar Ratio Rank: 61
FELC Martin Ratio Rank: 73

FSPGX

FSPGX Risk / Return Rank: 28
FSPGX Sharpe Ratio Rank: 34
FSPGX Sortino Ratio Rank: 31
FSPGX Omega Ratio Rank: 32
FSPGX Calmar Ratio Rank: 21
FSPGX Martin Ratio Rank: 22

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. FSPGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Core ETF (FELC) and Fidelity Large Cap Growth Index Fund (FSPGX). 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	FSPGX	Difference
Sharpe ratio: Return per unit of total volatility	2.14	1.46	+0.68
Sortino ratio: Return per unit of downside risk	2.90	2.01	+0.89
Omega ratio: Gain probability vs. loss probability	1.39	1.26	+0.13
Calmar ratio: Return relative to maximum drawdown	2.94	1.45	+1.48
Martin ratio: Return relative to average drawdown	13.22	4.79	+8.43

FELC vs. FSPGX - Sharpe Ratio Comparison

The current FELC Sharpe Ratio is 2.14, which is higher than the FSPGX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of FELC and FSPGX, 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. FSPGX - Drawdown Comparison

The maximum FELC drawdown since its inception was -18.59%, smaller than the maximum FSPGX drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for FELC and FSPGX.

Drawdown Indicators

	FELC	FSPGX	Difference
Max Drawdown Largest peak-to-trough decline	-18.59%	-32.66%	+14.07%
Max Drawdown (1Y) Largest decline over 1 year	-9.09%	-16.17%	+7.08%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.32%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.66%	—
Current Drawdown Current decline from peak	-1.27%	-3.35%	+2.08%
Average Drawdown Average peak-to-trough decline	-1.91%	-6.36%	+4.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	4.89%	-2.87%

Volatility

FELC vs. FSPGX - Volatility Comparison

The current volatility for Fidelity Enhanced Large Cap Core ETF (FELC) is 4.60%, while Fidelity Large Cap Growth Index Fund (FSPGX) has a volatility of 5.76%. This indicates that FELC experiences smaller price fluctuations and is considered to be less risky than FSPGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELC	FSPGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	5.76%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	9.77%	12.62%	-2.85%
Volatility (1Y) Calculated over the trailing 1-year period	12.50%	16.09%	-3.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.28%	21.59%	-6.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.28%	21.57%	-6.29%

FELC vs. FSPGX - Expense Ratio Comparison

FELC has a 0.18% expense ratio, which is higher than FSPGX's 0.04% expense ratio. However, 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. FSPGX - Dividend Comparison

FELC's dividend yield for the trailing twelve months is around 0.86%, more than FSPGX's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FELC Fidelity Enhanced Large Cap Core ETF	0.86%	0.92%	1.03%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FSPGX Fidelity Large Cap Growth Index Fund	0.33%	0.34%	0.37%	0.73%	0.86%	2.22%	1.76%	1.04%	1.32%	0.22%

Frequently Asked Questions

Can I hold both FELC and FSPGX in my portfolio?

With a correlation of 0.93, FELC and FSPGX 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 FSPGX?

FSPGX has higher volatility (5.76%) compared to FELC (4.60%). In terms of maximum drawdown, FELC dropped -18.59% vs FSPGX's -32.66%.

Which has better risk-adjusted returns?

FELC currently has the higher Sharpe Ratio (2.14 vs 1.46), 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.