FELG vs. TOPT

Last updated Jun 4, 2026

FELG (Fidelity Enhanced Large Cap Growth ETF) and TOPT (iShares Top 20 U.S. Stocks ETF) are both Large Cap Growth Equities funds. FELG is actively managed, while TOPT is passively managed. Over the past year, FELG returned 27.58% vs 30.17% for TOPT. With a 0.96 correlation, they move nearly in lockstep. FELG charges 0.18%/yr vs 0.20%/yr for TOPT.

Performance

FELG vs. TOPT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Large Cap Growth ETF (FELG) and iShares Top 20 U.S. Stocks ETF (TOPT). 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 TOPT's 8.94% return.

FELG

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

TOPT

• 1D: -0.87%
• 1M: 5.40%
• YTD: 8.94%
• 6M: 8.53%
• 1Y: 30.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FELG vs. TOPT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FELG Fidelity Enhanced Large Cap Growth ETF	7.70%	18.44%	5.28%
TOPT iShares Top 20 U.S. Stocks ETF	8.94%	20.35%	5.03%

Correlation

The correlation between FELG and TOPT is 0.96 - 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	0.96
Correlation (All Time) Calculated using the full available price history since Oct 25, 2024	0.96

The correlation between FELG and TOPT has been stable across timeframes, ranging from 0.96 to 0.96 - a consistent structural relationship.

FELG vs. TOPT - Sectors Allocation Comparison

Sectors	FELG	TOPT
Technology	53.9%	43.6%
Communication Services	13.8%	19.4%
Consumer Cyclical	11.5%	9.2%
Industrials	7.2%	-
Healthcare	6.3%	7.7%
Financial Services	4.7%	12.4%
Energy	1.1%	3.0%
Consumer Defensive	1.0%	4.8%
Basic Materials	0.5%	-
Utilities	0.1%	-
Real Estate	0.0%	-

Return for Risk

FELG vs. TOPT — 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

TOPT

TOPT Risk / Return Rank: 58
TOPT Sharpe Ratio Rank: 65
TOPT Sortino Ratio Rank: 65
TOPT Omega Ratio Rank: 62
TOPT Calmar Ratio Rank: 46
TOPT Martin Ratio Rank: 51

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. TOPT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Growth ETF (FELG) and iShares Top 20 U.S. Stocks ETF (TOPT). 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	TOPT	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.22	-0.42
Sortino ratio: Return per unit of downside risk	2.45	3.07	-0.62
Omega ratio: Gain probability vs. loss probability	1.31	1.39	-0.08
Calmar ratio: Return relative to maximum drawdown	1.71	2.31	-0.60
Martin ratio: Return relative to average drawdown	5.86	8.73	-2.88
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. TOPT - Sharpe Ratio Comparison

The current FELG Sharpe Ratio is 1.79, which is comparable to the TOPT Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of FELG and TOPT, 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	TOPT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	2.22	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	1.12	+0.20

Drawdowns

FELG vs. TOPT - Drawdown Comparison

The maximum FELG drawdown since its inception was -23.89%, which is greater than TOPT's maximum drawdown of -21.21%. Use the drawdown chart below to compare losses from any high point for FELG and TOPT.

Drawdown Indicators

	FELG	TOPT	Difference
Max Drawdown Largest peak-to-trough decline	-23.89%	-21.21%	-2.68%
Max Drawdown (1Y) Largest decline over 1 year	-16.17%	-13.13%	-3.04%
Current Drawdown Current decline from peak	-1.34%	-1.25%	-0.09%
Average Drawdown Average peak-to-trough decline	-3.52%	-3.48%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.72%	3.46%	+1.26%

Volatility

FELG vs. TOPT - Volatility Comparison

Fidelity Enhanced Large Cap Growth ETF (FELG) and iShares Top 20 U.S. Stocks ETF (TOPT) have volatilities of 3.50% and 3.46%, 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	TOPT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	3.46%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	11.59%	10.14%	+1.45%
Volatility (1Y) Calculated over the trailing 1-year period	15.46%	13.68%	+1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.89%	19.83%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.89%	19.83%	+0.06%

FELG vs. TOPT - Expense Ratio Comparison

FELG has a 0.18% expense ratio, which is lower than TOPT's 0.20% expense ratio. Despite the difference, 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. TOPT - Dividend Comparison

FELG's dividend yield for the trailing twelve months is around 0.34%, less than TOPT's 0.36% yield.

Position	TTM	2025	2024	2023
FELG Fidelity Enhanced Large Cap Growth ETF	0.34%	0.38%	0.44%	0.11%
TOPT iShares Top 20 U.S. Stocks ETF	0.36%	0.38%	0.08%	0.00%

Frequently Asked Questions

Can I hold both FELG and TOPT in my portfolio?

With a correlation of 0.96, FELG and TOPT 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 TOPT?

FELG has higher volatility (3.50%) compared to TOPT (3.46%). In terms of maximum drawdown, FELG dropped -23.89% vs TOPT's -21.21%.

Which ETF is better, FELG or TOPT?

On 1-year performance, TOPT leads with 30.17% vs 27.58% for FELG. On fees, FELG is cheaper at 0.18% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FELG or TOPT?

Over the 1-year period, TOPT has performed better with a 30.17% return vs 27.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FELG or TOPT?

FELG is cheaper with a 0.18% expense ratio, compared with 0.20% for TOPT.

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

TOPT has the higher dividend yield at 0.36%, compared with 0.34% for FELG.

What is the main difference between FELG and TOPT?

They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.18% for FELG and 0.20% for TOPT.

Which has better risk-adjusted returns?

TOPT currently has the higher Sharpe Ratio (2.22 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.