FELG vs. SCHG

Last updated Jun 17, 2026

FELG (Fidelity Enhanced Large Cap Growth ETF) and SCHG (Schwab U.S. Large-Cap Growth ETF) are both Large Cap Growth Equities funds. FELG is actively managed, while SCHG is passively managed. Over the past year, FELG returned 22.50% vs 20.75% for SCHG. With a 0.99 correlation, they move nearly in lockstep. FELG charges 0.18%/yr vs 0.04%/yr for SCHG.

Performance

FELG vs. SCHG - Performance Comparison

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

Returns By Period

In the year-to-date period, FELG achieves a 4.94% return, which is significantly higher than SCHG's 4.24% return.

FELG

• 1D: -0.75%
• 1M: -0.88%
• YTD: 4.94%
• 6M: 5.98%
• 1Y: 22.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SCHG

• 1D: -0.76%
• 1M: -0.88%
• YTD: 4.24%
• 6M: 4.94%
• 1Y: 20.75%
• 3Y*: 22.96%
• 5Y*: 14.34%
• 10Y*: 18.76%

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

FELG vs. SCHG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FELG Fidelity Enhanced Large Cap Growth ETF	4.94%	18.44%	35.45%	4.37%
SCHG Schwab U.S. Large-Cap Growth ETF	4.24%	17.50%	34.95%	5.46%

Correlation

The correlation between FELG and SCHG is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.99

The correlation between FELG and SCHG has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

FELG vs. SCHG - Sectors Allocation Comparison

Sectors	FELG	SCHG
Technology	56.0%	46.7%
Communication Services	12.2%	15.3%
Consumer Cyclical	11.4%	12.4%
Healthcare	6.4%	8.4%
Industrials	5.8%	6.0%
Financial Services	4.3%	6.6%
Consumer Defensive	1.2%	1.6%
Utilities	1.0%	0.4%
Energy	0.6%	0.7%
Real Estate	0.1%	0.5%
Basic Materials	0.0%	1.3%

Return for Risk

FELG vs. SCHG — Risk / Return Rank

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

FELG

FELG Risk / Return Rank: 36
FELG Sharpe Ratio Rank: 40
FELG Sortino Ratio Rank: 38
FELG Omega Ratio Rank: 38
FELG Calmar Ratio Rank: 29
FELG Martin Ratio Rank: 33

SCHG

SCHG Risk / Return Rank: 32
SCHG Sharpe Ratio Rank: 36
SCHG Sortino Ratio Rank: 34
SCHG Omega Ratio Rank: 35
SCHG Calmar Ratio Rank: 26
SCHG Martin Ratio Rank: 30

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. SCHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Growth ETF (FELG) and Schwab U.S. Large-Cap Growth ETF (SCHG). 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	SCHG	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.30	+0.10
Sortino ratio: Return per unit of downside risk	1.94	1.80	+0.14
Omega ratio: Gain probability vs. loss probability	1.25	1.23	+0.02
Calmar ratio: Return relative to maximum drawdown	1.40	1.27	+0.13
Martin ratio: Return relative to average drawdown	4.70	4.18	+0.51

FELG vs. SCHG - Sharpe Ratio Comparison

The current FELG Sharpe Ratio is 1.40, which is comparable to the SCHG Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of FELG and SCHG, 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. SCHG - Drawdown Comparison

The maximum FELG drawdown since its inception was -23.89%, smaller than the maximum SCHG drawdown of -34.59%. Use the drawdown chart below to compare losses from any high point for FELG and SCHG.

Drawdown Indicators

	FELG	SCHG	Difference
Max Drawdown Largest peak-to-trough decline	-23.89%	-34.59%	+10.70%
Max Drawdown (1Y) Largest decline over 1 year	-16.17%	-16.41%	+0.24%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.39%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.59%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.59%	—
Current Drawdown Current decline from peak	-3.87%	-3.80%	-0.07%
Average Drawdown Average peak-to-trough decline	-3.53%	-5.20%	+1.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.80%	4.97%	-0.17%

Volatility

FELG vs. SCHG - Volatility Comparison

Fidelity Enhanced Large Cap Growth ETF (FELG) and Schwab U.S. Large-Cap Growth ETF (SCHG) have volatilities of 5.74% and 5.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELG	SCHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.74%	5.51%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	12.56%	12.44%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	16.15%	16.08%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.99%	22.36%	-2.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.99%	21.60%	-1.61%

FELG vs. SCHG - Expense Ratio Comparison

FELG has a 0.18% expense ratio, which is higher than SCHG's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FELG vs. SCHG - Dividend Comparison

FELG's dividend yield for the trailing twelve months is around 0.35%, less than SCHG's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FELG Fidelity Enhanced Large Cap Growth ETF	0.35%	0.38%	0.44%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHG Schwab U.S. Large-Cap Growth ETF	0.37%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%

Frequently Asked Questions

Can I hold both FELG and SCHG in my portfolio?

With a correlation of 0.98, FELG and SCHG 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 SCHG?

FELG has higher volatility (5.74%) compared to SCHG (5.51%). In terms of maximum drawdown, FELG dropped -23.89% vs SCHG's -34.59%.

Which ETF is better, FELG or SCHG?

On 1-year performance, FELG leads with 22.50% vs 20.75% for SCHG. On fees, SCHG is cheaper at 0.04% per year. On volatility, SCHG has been the lower-risk option at 5.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FELG or SCHG?

Over the 1-year period, FELG has performed better with a 22.50% return vs 20.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FELG or SCHG?

SCHG is cheaper with a 0.04% expense ratio, compared with 0.18% for FELG.

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

SCHG has the higher dividend yield at 0.37%, compared with 0.35% for FELG.

What is the main difference between FELG and SCHG?

They also come from different issuers: Fidelity and Charles Schwab. Their fees differ too: 0.18% for FELG and 0.04% for SCHG.

Which has better risk-adjusted returns?

FELG currently has the higher Sharpe Ratio (1.40 vs 1.30), 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.