FELV vs. KWIN

Last updated Jul 15, 2026

FELV (Fidelity Enhanced Large Cap Value ETF) and KWIN (KraneShares Wahed Alternative Income Index ETF) are both Large Cap Value Equities funds. FELV is actively managed, while KWIN is passively managed. At a 0.05 correlation, their price movements are largely independent. FELV charges 0.18%/yr vs 0.51%/yr for KWIN.

Performance

FELV vs. KWIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Large Cap Value ETF (FELV) and KraneShares Wahed Alternative Income Index ETF (KWIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FELV achieves a 18.83% return, which is significantly higher than KWIN's 1.72% return.

FELV

• 1D: -0.32%
• 1M: 2.82%
• 6M: 15.82%
• YTD: 18.83%
• 1Y: 29.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KWIN

• 1D: 0.13%
• 1M: 0.25%
• 6M: 1.37%
• YTD: 1.72%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FELV vs. KWIN - Yearly Performance Comparison

	2026 (YTD)	2025
FELV Fidelity Enhanced Large Cap Value ETF	18.83%	4.01%
KWIN KraneShares Wahed Alternative Income Index ETF	1.72%	0.61%

Correlation

The correlation between FELV and KWIN is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025	0.05

Return for Risk

FELV vs. KWIN — Risk / Return Rank

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

FELV

FELV Risk / Return Rank: 92
FELV Sharpe Ratio Rank: 93
FELV Sortino Ratio Rank: 93
FELV Omega Ratio Rank: 92
FELV Calmar Ratio Rank: 90
FELV Martin Ratio Rank: 93

KWIN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FELV vs. KWIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Value ETF (FELV) and KraneShares Wahed Alternative Income Index ETF (KWIN). 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.

	FELV	KWIN	Difference
Sharpe ratio: Return per unit of total volatility	2.67	—	—
Sortino ratio: Return per unit of downside risk	3.70	—	—
Omega ratio: Gain probability vs. loss probability	1.49	—	—
Calmar ratio: Return relative to maximum drawdown	4.36	—	—
Martin ratio: Return relative to average drawdown	18.79	—	—

Drawdowns

FELV vs. KWIN - Drawdown Comparison

The maximum FELV drawdown since its inception was -16.08%, which is greater than KWIN's maximum drawdown of -1.50%. Use the drawdown chart below to compare losses from any high point for FELV and KWIN.

Drawdown Indicators

	FELV	KWIN	Difference
Max Drawdown Largest peak-to-trough decline	-16.08%	-1.50%	-14.58%
Max Drawdown (1Y) Largest decline over 1 year	-6.85%	—	—
Current Drawdown Current decline from peak	-0.32%	-1.32%	+1.00%
Average Drawdown Average peak-to-trough decline	-2.00%	-0.26%	-1.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	—	—

Volatility

Volatility by Period

	FELV	KWIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.02%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.18%	4.15%	+7.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.39%	4.15%	+9.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.39%	4.15%	+9.24%

FELV vs. KWIN - Expense Ratio Comparison

FELV has a 0.18% expense ratio, which is lower than KWIN's 0.51% expense ratio.

Dividends

FELV vs. KWIN - Dividend Comparison

FELV's dividend yield for the trailing twelve months is around 1.45%, while KWIN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
FELV Fidelity Enhanced Large Cap Value ETF	1.45%	1.67%	2.02%	0.04%
KWIN KraneShares Wahed Alternative Income Index ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FELV and KWIN in my portfolio?

FELV and KWIN have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FELV or KWIN?

On fees, FELV is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FELV or KWIN?

FELV is cheaper with a 0.18% expense ratio, compared with 0.51% for KWIN.

Which ETF pays a higher dividend yield, FELV or KWIN?

FELV has the higher dividend yield at 1.45%, compared with 0.00% for KWIN.

What is the main difference between FELV and KWIN?

They also come from different issuers: Fidelity and KraneShares. Their fees differ too: 0.18% for FELV and 0.51% for KWIN.