FELG vs. GRNY

Last updated Jun 26, 2026

FELG (Fidelity Enhanced Large Cap Growth ETF) and GRNY (Fundstrat Granny Shots U.S. Large Cap ETF) are both exchange-traded funds - FELG is a Large Cap Growth Equities fund actively managed by Fidelity, while GRNY is a Large Cap Blend Equities fund actively managed by Tidal ETFs. Both are actively managed. Over the past year, FELG returned 16.58% vs 21.71% for GRNY. Their correlation of 0.88 suggests significant overlap in exposure. FELG charges 0.18%/yr vs 0.75%/yr for GRNY.

Performance

FELG vs. GRNY - Performance Comparison

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

Returns By Period

In the year-to-date period, FELG achieves a 1.13% return, which is significantly lower than GRNY's 8.93% return.

FELG

• 1D: -1.13%
• 1M: -5.21%
• YTD: 1.13%
• 6M: -0.30%
• 1Y: 16.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GRNY

• 1D: 0.30%
• 1M: -1.17%
• YTD: 8.93%
• 6M: 6.47%
• 1Y: 21.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FELG vs. GRNY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FELG Fidelity Enhanced Large Cap Growth ETF	1.13%	18.44%	2.60%
GRNY Fundstrat Granny Shots U.S. Large Cap ETF	8.93%	24.05%	-0.45%

Correlation

The correlation between FELG and GRNY is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Nov 7, 2024	0.88

The correlation between FELG and GRNY has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

Return for Risk

FELG vs. GRNY — Risk / Return Rank

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

FELG

FELG Risk / Return Rank: 28
FELG Sharpe Ratio Rank: 31
FELG Sortino Ratio Rank: 30
FELG Omega Ratio Rank: 29
FELG Calmar Ratio Rank: 24
FELG Martin Ratio Rank: 27

GRNY

GRNY Risk / Return Rank: 38
GRNY Sharpe Ratio Rank: 38
GRNY Sortino Ratio Rank: 35
GRNY Omega Ratio Rank: 34
GRNY Calmar Ratio Rank: 43
GRNY Martin Ratio Rank: 40

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. GRNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Growth ETF (FELG) and Fundstrat Granny Shots U.S. Large Cap ETF (GRNY). 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.

	FELG	GRNY	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.21	-0.19
Sortino ratio: Return per unit of downside risk	1.47	1.69	-0.22
Omega ratio: Gain probability vs. loss probability	1.18	1.21	-0.02
Calmar ratio: Return relative to maximum drawdown	1.03	1.87	-0.85
Martin ratio: Return relative to average drawdown	3.40	5.66	-2.25

FELG vs. GRNY - Sharpe Ratio Comparison

The current FELG Sharpe Ratio is 1.03, which is comparable to the GRNY Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of FELG and GRNY, 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

FELG vs. GRNY - Drawdown Comparison

The maximum FELG drawdown since its inception was -23.89%, roughly equal to the maximum GRNY drawdown of -24.18%. Use the drawdown chart below to compare losses from any high point for FELG and GRNY.

Drawdown Indicators

	FELG	GRNY	Difference
Max Drawdown Largest peak-to-trough decline	-23.89%	-24.18%	+0.29%
Max Drawdown (1Y) Largest decline over 1 year	-16.17%	-11.63%	-4.54%
Current Drawdown Current decline from peak	-7.36%	-2.85%	-4.51%
Average Drawdown Average peak-to-trough decline	-3.55%	-3.95%	+0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.88%	3.85%	+1.03%

Volatility

FELG vs. GRNY - Volatility Comparison

Fidelity Enhanced Large Cap Growth ETF (FELG) has a higher volatility of 6.16% compared to Fundstrat Granny Shots U.S. Large Cap ETF (GRNY) at 5.36%. This indicates that FELG's price experiences larger fluctuations and is considered to be riskier than GRNY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELG	GRNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.16%	5.36%	+0.80%
Volatility (6M) Calculated over the trailing 6-month period	12.62%	12.93%	-0.31%
Volatility (1Y) Calculated over the trailing 1-year period	16.23%	17.96%	-1.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.99%	23.08%	-3.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.99%	23.08%	-3.09%

FELG vs. GRNY - Expense Ratio Comparison

FELG has a 0.18% expense ratio, which is lower than GRNY's 0.75% expense ratio.

Dividends

FELG vs. GRNY - Dividend Comparison

FELG's dividend yield for the trailing twelve months is around 0.37%, while GRNY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
FELG Fidelity Enhanced Large Cap Growth ETF	0.37%	0.38%	0.44%	0.11%
GRNY Fundstrat Granny Shots U.S. Large Cap ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FELG and GRNY in my portfolio?

FELG and GRNY have a correlation of 0.85, 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 GRNY?

FELG has higher volatility (6.16%) compared to GRNY (5.36%). In terms of maximum drawdown, FELG dropped -23.89% vs GRNY's -24.18%.

Which ETF is better, FELG or GRNY?

On 1-year performance, GRNY leads with 21.71% vs 16.58% for FELG. On fees, FELG is cheaper at 0.18% per year. On volatility, GRNY has been the lower-risk option at 5.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FELG or GRNY?

Over the 1-year period, GRNY has performed better with a 21.71% return vs 16.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FELG or GRNY?

FELG is cheaper with a 0.18% expense ratio, compared with 0.75% for GRNY.

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

FELG has the higher dividend yield at 0.37%, compared with 0.00% for GRNY.

What is the main difference between FELG and GRNY?

FELG is categorized as Large Cap Growth Equities, while GRNY is Large Cap Blend Equities. They also come from different issuers: Fidelity and Tidal ETFs. Their fees differ too: 0.18% for FELG and 0.75% for GRNY.

Which has better risk-adjusted returns?

GRNY currently has the higher Sharpe Ratio (1.21 vs 1.03), 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.