FELG vs. OUSA

Last updated Aug 4, 2026

FELG (Fidelity Enhanced Large Cap Growth ETF) and OUSA (OShares U.S. Quality Dividend ETF) are both exchange-traded funds - FELG is a Large Cap Growth Equities fund actively managed by Fidelity, while OUSA is a Quality Factor fund tracking the O'Shares US Quality Dividend Index. FELG is actively managed, while OUSA is passively managed. Over the past year, FELG returned 16.43% vs 16.21% for OUSA. Their 0.51 correlation means they have sometimes moved together and sometimes differently. FELG charges 0.18%/yr vs 0.48%/yr for OUSA.

Performance

FELG vs. OUSA - Performance Comparison

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

Returns By Period

In the year-to-date period, FELG achieves a 4.21% return, which is significantly lower than OUSA's 7.09% return.

FELG

• 1D: 1.95%
• 1M: 0.86%
• 6M: 5.50%
• YTD: 4.21%
• 1Y: 16.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.87%

OUSA

• 1D: 0.53%
• 1M: 2.40%
• 6M: 3.84%
• YTD: 7.09%
• 1Y: 16.21%
• 3Y*: 13.56%
• 5Y*: 8.96%
• 10Y*: 10.40%
• ALL TIME*: 10.73%

*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)
FELG Fidelity Enhanced Large Cap Growth ETF	$14.74M	$13.52M	$19.60M
OUSA OShares U.S. Quality Dividend ETF	$872.37K	$1.31M	$1.44M

FELG vs. OUSA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FELG Fidelity Enhanced Large Cap Growth ETF	4.21%	18.44%	35.45%	4.37%
OUSA OShares U.S. Quality Dividend ETF	7.09%	10.23%	17.09%	5.42%

Correlation

The correlation between FELG and OUSA is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.51

The correlation between FELG and OUSA shifts across timeframes, from 0.33 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.

FELG vs. OUSA - Sectors Allocation Comparison

Sectors	FELG	OUSA
Technology	55.9%	23.7%
Communication Services	14.7%	10.3%
Consumer Cyclical	8.6%	13.1%
Industrials	8.4%	11.9%
Healthcare	5.7%	15.1%
Financial Services	4.6%	18.6%
Utilities	1.2%	-
Consumer Defensive	1.2%	7.4%
Energy	0.7%	-
Basic Materials	0.1%	-
Real Estate	0.1%	-

Return for Risk

FELG vs. OUSA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FELG

FELG Risk / Return Rank: 35
FELG Sharpe Ratio Rank: 38
FELG Sortino Ratio Rank: 37
FELG Omega Ratio Rank: 36
FELG Calmar Ratio Rank: 31
FELG Martin Ratio Rank: 33

OUSA

OUSA Risk / Return Rank: 62
OUSA Sharpe Ratio Rank: 67
OUSA Sortino Ratio Rank: 72
OUSA Omega Ratio Rank: 65
OUSA Calmar Ratio Rank: 53
OUSA Martin Ratio Rank: 55

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.

FELG vs. OUSA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Growth ETF (FELG) and OShares U.S. Quality Dividend ETF (OUSA). 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	OUSA	Difference
Sharpe ratio: Return per unit of total volatility	0.96	1.59	-0.63
Sortino ratio: Return per unit of downside risk	1.41	2.41	-1.00
Omega ratio: Gain probability vs. loss probability	1.17	1.28	-0.11
Calmar ratio: Return relative to maximum drawdown	1.02	1.95	-0.93
Martin ratio: Return relative to average drawdown	3.17	6.80	-3.63

FELG vs. OUSA - Sharpe Ratio Comparison

The current FELG Sharpe Ratio is 0.96, which is lower than the OUSA Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of FELG and OUSA, 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. OUSA - Drawdown Comparison

The maximum FELG drawdown since its inception was -23.89%, smaller than the maximum OUSA drawdown of -33.12%. Use the drawdown chart below to compare losses from any high point for FELG and OUSA.

Drawdown Indicators

	FELG	OUSA	Difference
Max Drawdown Largest peak-to-trough decline	-23.89%	-33.12%	+9.23%
Max Drawdown (1Y) Largest decline over 1 year	-16.17%	-8.36%	-7.81%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.54%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.12%	—
Current Drawdown Current decline from peak	-4.54%	-0.23%	-4.31%
Average Drawdown Average peak-to-trough decline	-3.62%	-3.50%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.20%	2.39%	+2.81%

Volatility

FELG vs. OUSA - Volatility Comparison

Fidelity Enhanced Large Cap Growth ETF (FELG) has a higher volatility of 6.31% compared to OShares U.S. Quality Dividend ETF (OUSA) at 3.65%. This indicates that FELG's price experiences larger fluctuations and is considered to be riskier than OUSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELG	OUSA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.31%	3.65%	+2.66%
Volatility (6M) Calculated over the trailing 6-month period	13.86%	8.12%	+5.74%
Volatility (1Y) Calculated over the trailing 1-year period	17.29%	10.25%	+7.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.04%	13.38%	+6.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.04%	15.19%	+4.85%

FELG vs. OUSA - Expense Ratio Comparison

FELG has a 0.18% expense ratio, which is lower than OUSA's 0.48% expense ratio.

Dividends

FELG vs. OUSA - Dividend Comparison

FELG's dividend yield for the trailing twelve months is around 0.36%, less than OUSA's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FELG Fidelity Enhanced Large Cap Growth ETF	0.36%	0.38%	0.44%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OUSA OShares U.S. Quality Dividend ETF	1.35%	1.39%	1.50%	1.81%	1.92%	1.56%	2.03%	2.31%	3.06%	2.15%	2.32%	1.17%

Frequently Asked Questions

Can I hold both FELG and OUSA in my portfolio?

FELG and OUSA have a correlation of 0.33, 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 OUSA?

FELG has higher volatility (6.31%) compared to OUSA (3.65%). In terms of maximum drawdown, FELG dropped -23.89% vs OUSA's -33.12%.

Which ETF is better, FELG or OUSA?

On 1-year performance, FELG leads with 16.43% vs 16.21% for OUSA. On fees, FELG is cheaper at 0.18% per year. On volatility, OUSA has been the lower-risk option at 3.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FELG or OUSA?

Over the 1-year period, FELG has performed better with a 16.43% return vs 16.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FELG or OUSA?

FELG is cheaper with a 0.18% expense ratio, compared with 0.48% for OUSA.

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

OUSA has the higher dividend yield at 1.35%, compared with 0.36% for FELG.

What is the main difference between FELG and OUSA?

FELG is categorized as Large Cap Growth Equities, while OUSA is Quality Factor. They also come from different issuers: Fidelity and O'Shares Investments. Their fees differ too: 0.18% for FELG and 0.48% for OUSA.

Which has better risk-adjusted returns?

OUSA currently has the higher Sharpe Ratio (1.59 vs 0.96), 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.