FELG vs. FDVV

Last updated Jun 4, 2026

FELG (Fidelity Enhanced Large Cap Growth ETF) and FDVV (Fidelity High Dividend ETF) are both exchange-traded funds - FELG is a Large Cap Growth Equities fund actively managed by Fidelity, while FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index. FELG is actively managed, while FDVV is passively managed. Over the past year, FELG returned 27.58% vs 23.45% for FDVV. A 0.67 correlation means they provide meaningful diversification when combined. FELG charges 0.18%/yr vs 0.29%/yr for FDVV.

Performance

FELG vs. FDVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Large Cap Growth ETF (FELG) and Fidelity High Dividend ETF (FDVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FELG achieves a 7.70% return, which is significantly lower than FDVV's 8.39% return.

FELG

• 1D: -1.12%
• 1M: 5.85%
• YTD: 7.70%
• 6M: 7.23%
• 1Y: 27.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDVV

• 1D: -1.12%
• 1M: 4.44%
• YTD: 8.39%
• 6M: 8.67%
• 1Y: 23.45%
• 3Y*: 20.08%
• 5Y*: 13.36%
• 10Y*: —

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

FELG vs. FDVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FELG Fidelity Enhanced Large Cap Growth ETF	7.70%	18.44%	35.45%	4.20%
FDVV Fidelity High Dividend ETF	8.39%	17.08%	21.81%	6.34%

Correlation

The correlation between FELG and FDVV is 0.64, 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	0.64
Correlation (All Time) Calculated using the full available price history since Nov 21, 2023	0.67

The correlation between FELG and FDVV has been stable across timeframes, ranging from 0.64 to 0.67 - a consistent structural relationship.

FELG vs. FDVV - Sectors Allocation Comparison

Sectors	FELG	FDVV
Technology	53.9%	29.1%
Communication Services	13.8%	3.7%
Consumer Cyclical	11.5%	13.6%
Industrials	7.2%	3.4%
Healthcare	6.3%	3.1%
Financial Services	4.7%	17.0%
Energy	1.1%	-
Consumer Defensive	1.0%	11.0%
Basic Materials	0.5%	-
Utilities	0.1%	8.7%
Real Estate	0.0%	10.1%

Return for Risk

FELG vs. FDVV — Risk / Return Rank

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

FELG

FELG Risk / Return Rank: 44
FELG Sharpe Ratio Rank: 51
FELG Sortino Ratio Rank: 49
FELG Omega Ratio Rank: 49
FELG Calmar Ratio Rank: 34
FELG Martin Ratio Rank: 37

FDVV

FDVV Risk / Return Rank: 64
FDVV Sharpe Ratio Rank: 70
FDVV Sortino Ratio Rank: 71
FDVV Omega Ratio Rank: 71
FDVV Calmar Ratio Rank: 50
FDVV Martin Ratio Rank: 58

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.

FELG vs. FDVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Growth ETF (FELG) and Fidelity High Dividend ETF (FDVV). 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.

	FELG	FDVV	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.35	-0.56
Sortino ratio: Return per unit of downside risk	2.45	3.28	-0.83
Omega ratio: Gain probability vs. loss probability	1.31	1.43	-0.12
Calmar ratio: Return relative to maximum drawdown	1.71	2.53	-0.82
Martin ratio: Return relative to average drawdown	5.86	10.54	-4.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FELG vs. FDVV - Sharpe Ratio Comparison

The current FELG Sharpe Ratio is 1.79, which is comparable to the FDVV Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of FELG and FDVV, 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

	FELG	FDVV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	2.35	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	0.79	+0.53

Drawdowns

FELG vs. FDVV - Drawdown Comparison

The maximum FELG drawdown since its inception was -23.89%, smaller than the maximum FDVV drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for FELG and FDVV.

Drawdown Indicators

	FELG	FDVV	Difference
Max Drawdown Largest peak-to-trough decline	-23.89%	-40.25%	+16.36%
Max Drawdown (1Y) Largest decline over 1 year	-16.17%	-9.30%	-6.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.90%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.18%	—
Current Drawdown Current decline from peak	-1.34%	-1.12%	-0.22%
Average Drawdown Average peak-to-trough decline	-3.52%	-3.81%	+0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.72%	2.23%	+2.49%

Volatility

FELG vs. FDVV - Volatility Comparison

Fidelity Enhanced Large Cap Growth ETF (FELG) has a higher volatility of 3.50% compared to Fidelity High Dividend ETF (FDVV) at 3.14%. This indicates that FELG's price experiences larger fluctuations and is considered to be riskier than FDVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELG	FDVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	3.14%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	11.59%	7.99%	+3.60%
Volatility (1Y) Calculated over the trailing 1-year period	15.46%	10.06%	+5.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.89%	14.75%	+5.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.89%	17.00%	+2.89%

FELG vs. FDVV - Expense Ratio Comparison

FELG has a 0.18% expense ratio, which is lower than FDVV's 0.29% expense ratio.

Dividends

FELG vs. FDVV - Dividend Comparison

FELG's dividend yield for the trailing twelve months is around 0.34%, less than FDVV's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDVV Fidelity High Dividend ETF	2.72%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%
FELG Fidelity Enhanced Large Cap Growth ETF	0.34%	0.38%	0.44%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FELG and FDVV in my portfolio?

FELG and FDVV have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FELG or FDVV?

FELG has higher volatility (3.50%) compared to FDVV (3.14%). In terms of maximum drawdown, FELG dropped -23.89% vs FDVV's -40.25%.

Which ETF is better, FELG or FDVV?

On 1-year performance, FELG leads with 27.58% vs 23.45% for FDVV. On fees, FELG is cheaper at 0.18% per year. On volatility, FDVV has been the lower-risk option at 3.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FELG or FDVV?

Over the 1-year period, FELG has performed better with a 27.58% return vs 23.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FELG or FDVV?

FELG is cheaper with a 0.18% expense ratio, compared with 0.29% for FDVV.

Which ETF pays a higher dividend yield, FELG or FDVV?

FDVV has the higher dividend yield at 2.72%, compared with 0.34% for FELG.

What is the main difference between FELG and FDVV?

FELG is categorized as Large Cap Growth Equities, while FDVV is Large Cap Blend Equities. Their fees differ too: 0.18% for FELG and 0.29% for FDVV.

Which has better risk-adjusted returns?

FDVV currently has the higher Sharpe Ratio (2.35 vs 1.79), 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.