FELG vs. FELC

Last updated Jun 6, 2026

FELG (Fidelity Enhanced Large Cap Growth ETF) and FELC (Fidelity Enhanced Large Cap Core ETF) are both exchange-traded funds - FELG is a Large Cap Growth Equities fund actively managed by Fidelity, while FELC is a Large Cap Blend Equities fund actively managed by Fidelity. Both are actively managed. Over the past year, FELG returned 23.38% vs 25.90% for FELC. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.18% expense ratio.

Performance

FELG vs. FELC - Performance Comparison

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

Returns By Period

In the year-to-date period, FELG achieves a 4.10% return, which is significantly lower than FELC's 8.55% return.

FELG

• 1D: -3.43%
• 1M: -0.21%
• YTD: 4.10%
• 6M: 3.11%
• 1Y: 23.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FELC

• 1D: -2.66%
• 1M: 0.78%
• YTD: 8.55%
• 6M: 8.35%
• 1Y: 25.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FELG vs. FELC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FELG Fidelity Enhanced Large Cap Growth ETF	4.10%	18.44%	35.45%	4.20%
FELC Fidelity Enhanced Large Cap Core ETF	8.55%	17.09%	25.25%	5.68%

Correlation

The correlation between FELG and FELC 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 21, 2023	0.93

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

FELG vs. FELC - Sectors Allocation Comparison

Sectors	FELG	FELC
Technology	53.9%	38.2%
Communication Services	13.8%	12.4%
Consumer Cyclical	11.5%	9.8%
Industrials	7.2%	9.6%
Healthcare	6.3%	7.4%
Financial Services	4.7%	12.2%
Energy	1.1%	3.7%
Consumer Defensive	1.0%	2.8%
Basic Materials	0.5%	1.5%
Utilities	0.1%	1.3%
Real Estate	0.0%	1.0%

Return for Risk

FELG vs. FELC — Risk / Return Rank

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

FELG

FELG Risk / Return Rank: 38
FELG Sharpe Ratio Rank: 43
FELG Sortino Ratio Rank: 41
FELG Omega Ratio Rank: 42
FELG Calmar Ratio Rank: 31
FELG Martin Ratio Rank: 34

FELC

FELC Risk / Return Rank: 65
FELC Sharpe Ratio Rank: 66
FELC Sortino Ratio Rank: 63
FELC Omega Ratio Rank: 66
FELC Calmar Ratio Rank: 59
FELC Martin Ratio Rank: 72

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. FELC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Growth ETF (FELG) and Fidelity Enhanced Large Cap Core ETF (FELC). 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	FELC	Difference
Sharpe ratio: Return per unit of total volatility	1.48	2.13	-0.65
Sortino ratio: Return per unit of downside risk	2.03	2.87	-0.84
Omega ratio: Gain probability vs. loss probability	1.26	1.39	-0.12
Calmar ratio: Return relative to maximum drawdown	1.45	2.86	-1.41
Martin ratio: Return relative to average drawdown	4.96	13.23	-8.27
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. FELC - Sharpe Ratio Comparison

The current FELG Sharpe Ratio is 1.48, which is lower than the FELC Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of FELG and FELC, 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	FELC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.48	2.13	-0.65
Sharpe Ratio (All Time) Calculated using the full available price history	1.23	1.50	-0.27

Drawdowns

FELG vs. FELC - Drawdown Comparison

The maximum FELG drawdown since its inception was -23.89%, which is greater than FELC's maximum drawdown of -18.59%. Use the drawdown chart below to compare losses from any high point for FELG and FELC.

Drawdown Indicators

	FELG	FELC	Difference
Max Drawdown Largest peak-to-trough decline	-23.89%	-18.59%	-5.30%
Max Drawdown (1Y) Largest decline over 1 year	-16.17%	-9.09%	-7.08%
Current Drawdown Current decline from peak	-4.64%	-2.98%	-1.66%
Average Drawdown Average peak-to-trough decline	-3.52%	-1.91%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.73%	1.96%	+2.77%

Volatility

FELG vs. FELC - Volatility Comparison

Fidelity Enhanced Large Cap Growth ETF (FELG) has a higher volatility of 4.77% compared to Fidelity Enhanced Large Cap Core ETF (FELC) at 3.77%. This indicates that FELG's price experiences larger fluctuations and is considered to be riskier than FELC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELG	FELC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.77%	3.77%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	12.12%	9.35%	+2.77%
Volatility (1Y) Calculated over the trailing 1-year period	15.84%	12.21%	+3.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.98%	15.25%	+4.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.98%	15.25%	+4.73%

FELG vs. FELC - Expense Ratio Comparison

Both FELG and FELC 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

FELG vs. FELC - Dividend Comparison

FELG's dividend yield for the trailing twelve months is around 0.35%, less than FELC's 0.87% yield.

Position	TTM	2025	2024	2023
FELC Fidelity Enhanced Large Cap Core ETF	0.87%	0.92%	1.03%	0.04%
FELG Fidelity Enhanced Large Cap Growth ETF	0.35%	0.38%	0.44%	0.11%

Frequently Asked Questions

Can I hold both FELG and FELC in my portfolio?

With a correlation of 0.93, FELG and FELC 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, FELG or FELC?

FELG has higher volatility (4.77%) compared to FELC (3.77%). In terms of maximum drawdown, FELG dropped -23.89% vs FELC's -18.59%.

Which ETF is better, FELG or FELC?

On 1-year performance, FELC leads with 25.90% vs 23.38% for FELG. Both ETFs have the same 0.18% expense ratio. On volatility, FELC has been the lower-risk option at 3.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FELG or FELC?

Over the 1-year period, FELC has performed better with a 25.90% return vs 23.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FELG or FELC?

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

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

FELC has the higher dividend yield at 0.87%, compared with 0.35% for FELG.

What is the main difference between FELG and FELC?

FELG is categorized as Large Cap Growth Equities, while FELC is Large Cap Blend Equities.

Which has better risk-adjusted returns?

FELC currently has the higher Sharpe Ratio (2.13 vs 1.48), 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.