FELC vs. QQQ

Last updated Aug 4, 2026

FELC (Fidelity Enhanced Large Cap Core ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - FELC is a Large Cap Blend Equities fund actively managed by Fidelity, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. FELC is actively managed, while QQQ is passively managed. Over the past year, FELC returned 26.44% vs 27.00% for QQQ. Their correlation of 0.93 means they have usually moved in the same direction. Both charge a 0.18% expense ratio.

Performance

FELC vs. QQQ - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with FELC having a 13.57% return and QQQ slightly higher at 14.23%.

FELC

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

QQQ

• 1D: 1.76%
• 1M: -1.76%
• 6M: 12.07%
• YTD: 14.23%
• 1Y: 27.00%
• 3Y*: 24.17%
• 5Y*: 14.45%
• 10Y*: 20.46%
• ALL TIME*: 10.70%

*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
QQQ Invesco QQQ ETF	$31.40B	$28.17B	$31.69B

FELC vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FELC Fidelity Enhanced Large Cap Core ETF	13.57%	17.09%	25.25%	6.06%
QQQ Invesco QQQ ETF	14.23%	20.77%	25.58%	6.35%

Correlation

The correlation between FELC and QQQ is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.93

The correlation between FELC and QQQ has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

FELC vs. QQQ - Sectors Allocation Comparison

Sectors	FELC	QQQ
Technology	40.7%	60.9%
Financial Services	12.6%	0.2%
Communication Services	10.8%	13.1%
Industrials	10.1%	2.7%
Consumer Cyclical	9.1%	10.7%
Healthcare	8.5%	3.6%
Energy	2.7%	0.5%
Consumer Defensive	2.4%	6.3%
Utilities	1.5%	1.1%
Real Estate	1.0%	0.1%
Basic Materials	0.6%	1.0%

Return for Risk

FELC vs. QQQ — 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

QQQ

QQQ Risk / Return Rank: 58
QQQ Sharpe Ratio Rank: 58
QQQ Sortino Ratio Rank: 55
QQQ Omega Ratio Rank: 55
QQQ Calmar Ratio Rank: 64
QQQ Martin Ratio Rank: 59

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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Core ETF (FELC) and Invesco QQQ ETF (QQQ). 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	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.40	+0.66
Sortino ratio: Return per unit of downside risk	2.81	1.95	+0.86
Omega ratio: Gain probability vs. loss probability	1.37	1.25	+0.12
Calmar ratio: Return relative to maximum drawdown	2.92	2.27	+0.66
Martin ratio: Return relative to average drawdown	12.69	7.21	+5.48

FELC vs. QQQ - Sharpe Ratio Comparison

The current FELC Sharpe Ratio is 2.06, which is higher than the QQQ Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of FELC and QQQ, 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. QQQ - Drawdown Comparison

The maximum FELC drawdown since its inception was -18.59%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for FELC and QQQ.

Drawdown Indicators

	FELC	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-18.59%	-82.97%	+64.38%
Max Drawdown (1Y) Largest decline over 1 year	-9.09%	-11.96%	+2.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	0.00%	-6.07%	+6.07%
Average Drawdown Average peak-to-trough decline	-1.89%	-32.61%	+30.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	3.76%	-1.67%

Volatility

FELC vs. QQQ - Volatility Comparison

The current volatility for Fidelity Enhanced Large Cap Core ETF (FELC) is 3.81%, while Invesco QQQ ETF (QQQ) has a volatility of 6.96%. This indicates that FELC experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELC	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.81%	6.96%	-3.15%
Volatility (6M) Calculated over the trailing 6-month period	10.22%	16.12%	-5.90%
Volatility (1Y) Calculated over the trailing 1-year period	12.92%	19.37%	-6.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.17%	22.92%	-7.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.17%	22.51%	-7.34%

FELC vs. QQQ - Expense Ratio Comparison

Both FELC and QQQ have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FELC vs. QQQ - Dividend Comparison

FELC's dividend yield for the trailing twelve months is around 0.83%, more than QQQ's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FELC Fidelity Enhanced Large Cap Core ETF	0.83%	0.92%	1.03%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.43%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both FELC and QQQ in my portfolio?

With a correlation of 0.92, FELC and QQQ 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 QQQ?

QQQ has higher volatility (6.96%) compared to FELC (3.81%). In terms of maximum drawdown, FELC dropped -18.59% vs QQQ's -82.97%.

Which ETF is better, FELC or QQQ?

On 1-year performance, QQQ leads with 27.00% vs 26.44% for FELC. Both ETFs have the same 0.18% expense ratio. 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 QQQ?

Over the 1-year period, QQQ has performed better with a 27.00% return vs 26.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FELC or QQQ?

FELC and QQQ have the same expense ratio: 0.18% per year.

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

FELC has the higher dividend yield at 0.83%, compared with 0.43% for QQQ.

What is the main difference between FELC and QQQ?

FELC is categorized as Large Cap Blend Equities, while QQQ is Nasdaq-100. They also come from different issuers: Fidelity and Invesco.

Which has better risk-adjusted returns?

FELC currently has the higher Sharpe Ratio (2.06 vs 1.40), 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.