FELV vs. VUG

Last updated Jun 24, 2026

FELV (Fidelity Enhanced Large Cap Value ETF) and VUG (Vanguard Growth ETF) are both exchange-traded funds - FELV is a Large Cap Value Equities fund actively managed by Fidelity, while VUG is a Large Cap Growth Equities fund tracking the CRSP US Large Cap Growth Index. FELV is actively managed, while VUG is passively managed. Over the past year, FELV returned 29.92% vs 20.05% for VUG. A 0.56 correlation means they provide meaningful diversification when combined. FELV charges 0.18%/yr vs 0.03%/yr for VUG.

Performance

FELV vs. VUG - Performance Comparison

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

Returns By Period

In the year-to-date period, FELV achieves a 15.89% return, which is significantly higher than VUG's 3.52% return.

FELV

• 1D: -1.07%
• 1M: 2.65%
• YTD: 15.89%
• 6M: 15.09%
• 1Y: 29.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VUG

• 1D: -2.12%
• 1M: -3.95%
• YTD: 3.52%
• 6M: 2.23%
• 1Y: 20.05%
• 3Y*: 22.74%
• 5Y*: 12.80%
• 10Y*: 18.02%

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

FELV vs. VUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FELV Fidelity Enhanced Large Cap Value ETF	15.89%	15.80%	15.89%	7.49%
VUG Vanguard Growth ETF	3.52%	19.40%	32.69%	5.54%

Correlation

The correlation between FELV and VUG is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.56

The correlation between FELV and VUG has been stable across timeframes, ranging from 0.56 to 0.59 - a consistent structural relationship.

FELV vs. VUG - Sectors Allocation Comparison

Sectors	FELV	VUG
Technology	21.0%	53.5%
Financial Services	18.6%	4.3%
Industrials	13.6%	3.6%
Healthcare	10.3%	4.6%
Communication Services	8.6%	17.3%
Consumer Cyclical	7.7%	12.2%
Energy	5.8%	0.4%
Consumer Defensive	4.7%	1.5%
Basic Materials	3.5%	0.6%
Utilities	3.3%	0.9%
Real Estate	3.1%	1.0%

Return for Risk

FELV vs. VUG — Risk / Return Rank

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

FELV

FELV Risk / Return Rank: 86
FELV Sharpe Ratio Rank: 87
FELV Sortino Ratio Rank: 87
FELV Omega Ratio Rank: 85
FELV Calmar Ratio Rank: 85
FELV Martin Ratio Rank: 89

VUG

VUG Risk / Return Rank: 31
VUG Sharpe Ratio Rank: 34
VUG Sortino Ratio Rank: 32
VUG Omega Ratio Rank: 33
VUG Calmar Ratio Rank: 26
VUG 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.

FELV vs. VUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Value ETF (FELV) and Vanguard Growth ETF (VUG). 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	VUG	Difference
Sharpe ratio: Return per unit of total volatility	2.69	1.19	+1.49
Sortino ratio: Return per unit of downside risk	3.72	1.67	+2.05
Omega ratio: Gain probability vs. loss probability	1.49	1.21	+0.27
Calmar ratio: Return relative to maximum drawdown	4.39	1.22	+3.17
Martin ratio: Return relative to average drawdown	18.74	4.15	+14.59

FELV vs. VUG - Sharpe Ratio Comparison

The current FELV Sharpe Ratio is 2.69, which is higher than the VUG Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of FELV and VUG, 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

FELV vs. VUG - Drawdown Comparison

The maximum FELV drawdown since its inception was -16.08%, smaller than the maximum VUG drawdown of -50.68%. Use the drawdown chart below to compare losses from any high point for FELV and VUG.

Drawdown Indicators

	FELV	VUG	Difference
Max Drawdown Largest peak-to-trough decline	-16.08%	-50.68%	+34.60%
Max Drawdown (1Y) Largest decline over 1 year	-6.85%	-16.53%	+9.68%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.85%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.61%	—
Current Drawdown Current decline from peak	-1.07%	-6.88%	+5.81%
Average Drawdown Average peak-to-trough decline	-2.04%	-7.09%	+5.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	4.84%	-3.24%

Volatility

FELV vs. VUG - Volatility Comparison

The current volatility for Fidelity Enhanced Large Cap Value ETF (FELV) is 4.19%, while Vanguard Growth ETF (VUG) has a volatility of 6.86%. This indicates that FELV experiences smaller price fluctuations and is considered to be less risky than VUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELV	VUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	6.86%	-2.67%
Volatility (6M) Calculated over the trailing 6-month period	8.57%	13.44%	-4.87%
Volatility (1Y) Calculated over the trailing 1-year period	11.22%	16.91%	-5.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.47%	22.39%	-8.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.47%	21.51%	-8.04%

FELV vs. VUG - Expense Ratio Comparison

FELV has a 0.18% expense ratio, which is higher than VUG's 0.03% 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

FELV vs. VUG - Dividend Comparison

FELV's dividend yield for the trailing twelve months is around 1.49%, more than VUG's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FELV Fidelity Enhanced Large Cap Value ETF	1.49%	1.67%	2.02%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VUG Vanguard Growth ETF	0.39%	0.41%	0.47%	0.58%	0.70%	0.48%	0.66%	0.95%	1.32%	1.14%	1.39%	1.30%

Frequently Asked Questions

Can I hold both FELV and VUG in my portfolio?

FELV and VUG have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FELV or VUG?

VUG has higher volatility (6.86%) compared to FELV (4.19%). In terms of maximum drawdown, FELV dropped -16.08% vs VUG's -50.68%.

Which ETF is better, FELV or VUG?

On 1-year performance, FELV leads with 29.92% vs 20.05% for VUG. On fees, VUG is cheaper at 0.03% per year. On volatility, FELV has been the lower-risk option at 4.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FELV or VUG?

Over the 1-year period, FELV has performed better with a 29.92% return vs 20.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FELV or VUG?

VUG is cheaper with a 0.03% expense ratio, compared with 0.18% for FELV.

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

FELV has the higher dividend yield at 1.49%, compared with 0.39% for VUG.

What is the main difference between FELV and VUG?

FELV is categorized as Large Cap Value Equities, while VUG is Large Cap Growth Equities. They also come from different issuers: Fidelity and Vanguard. Their fees differ too: 0.18% for FELV and 0.03% for VUG.

Which has better risk-adjusted returns?

FELV currently has the higher Sharpe Ratio (2.69 vs 1.19), 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.