FFLC vs. FELC

Last updated Jun 4, 2026

FFLC (Fidelity Fundamental Large Cap Core ETF) and FELC (Fidelity Enhanced Large Cap Core ETF) are both exchange-traded funds - FFLC is a Large Cap Blend Equities fund actively managed by Fidelity, while FELC is a Large Cap Growth Equities fund actively managed by Fidelity. Both are actively managed. Over the past year, FFLC returned 26.96% vs 28.58% for FELC. Their correlation of 0.95 suggests significant overlap in exposure. FFLC charges 0.38%/yr vs 0.18%/yr for FELC.

Performance

FFLC vs. FELC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Large Cap Core ETF (FFLC) and Fidelity Enhanced Large Cap Core ETF (FELC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFLC achieves a 10.26% return, which is significantly lower than FELC's 11.23% return.

FFLC

• 1D: -0.68%
• 1M: 3.15%
• YTD: 10.26%
• 6M: 11.18%
• 1Y: 26.96%
• 3Y*: 23.20%
• 5Y*: 15.85%
• 10Y*: —

FELC

• 1D: -0.59%
• 1M: 5.59%
• YTD: 11.23%
• 6M: 11.57%
• 1Y: 28.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FFLC vs. FELC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FFLC Fidelity Fundamental Large Cap Core ETF	10.26%	17.67%	27.89%	4.86%
FELC Fidelity Enhanced Large Cap Core ETF	11.23%	17.09%	25.25%	5.68%

Correlation

The correlation between FFLC and FELC is 0.95 - 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	0.95
Correlation (All Time) Calculated using the full available price history since Nov 21, 2023	0.95

The correlation between FFLC and FELC has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

FFLC vs. FELC - Sectors Allocation Comparison

Sectors	FFLC	FELC
Technology	32.3%	38.2%
Communication Services	11.8%	12.4%
Financial Services	11.3%	12.2%
Consumer Cyclical	10.9%	9.8%
Industrials	10.8%	9.6%
Healthcare	8.1%	7.4%
Energy	4.8%	3.7%
Consumer Defensive	4.1%	2.8%
Utilities	2.6%	1.3%
Basic Materials	1.8%	1.5%
Real Estate	1.1%	1.0%

Return for Risk

FFLC vs. FELC — Risk / Return Rank

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

FFLC

FFLC Risk / Return Rank: 61
FFLC Sharpe Ratio Rank: 61
FFLC Sortino Ratio Rank: 61
FFLC Omega Ratio Rank: 61
FFLC Calmar Ratio Rank: 54
FFLC Martin Ratio Rank: 66

FELC

FELC Risk / Return Rank: 70
FELC Sharpe Ratio Rank: 72
FELC Sortino Ratio Rank: 71
FELC Omega Ratio Rank: 71
FELC Calmar Ratio Rank: 63
FELC Martin Ratio Rank: 75

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.

FFLC vs. FELC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Large Cap Core ETF (FFLC) and Fidelity Enhanced Large Cap Core ETF (FELC). 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.

	FFLC	FELC	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.41	-0.30
Sortino ratio: Return per unit of downside risk	2.90	3.29	-0.39
Omega ratio: Gain probability vs. loss probability	1.38	1.44	-0.05
Calmar ratio: Return relative to maximum drawdown	2.71	3.16	-0.45
Martin ratio: Return relative to average drawdown	12.30	14.66	-2.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFLC vs. FELC - Sharpe Ratio Comparison

The current FFLC Sharpe Ratio is 2.12, which is comparable to the FELC Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of FFLC and FELC, 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

	FFLC	FELC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.41	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	1.59	-0.42

Drawdowns

FFLC vs. FELC - Drawdown Comparison

The maximum FFLC drawdown since its inception was -19.72%, which is greater than FELC's maximum drawdown of -18.59%. Use the drawdown chart below to compare losses from any high point for FFLC and FELC.

Drawdown Indicators

	FFLC	FELC	Difference
Max Drawdown Largest peak-to-trough decline	-19.72%	-18.59%	-1.13%
Max Drawdown (1Y) Largest decline over 1 year	-9.98%	-9.09%	-0.89%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	—	—
Current Drawdown Current decline from peak	-0.68%	-0.59%	-0.09%
Average Drawdown Average peak-to-trough decline	-2.99%	-1.91%	-1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	1.95%	+0.25%

Volatility

FFLC vs. FELC - Volatility Comparison

Fidelity Fundamental Large Cap Core ETF (FFLC) has a higher volatility of 3.15% compared to Fidelity Enhanced Large Cap Core ETF (FELC) at 2.78%. This indicates that FFLC's price experiences larger fluctuations and is considered to be riskier than FELC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFLC	FELC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	2.78%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	9.73%	8.93%	+0.80%
Volatility (1Y) Calculated over the trailing 1-year period	12.80%	11.90%	+0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	15.17%	+1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.65%	15.17%	+2.48%

FFLC vs. FELC - Expense Ratio Comparison

FFLC has a 0.38% expense ratio, which is higher than FELC's 0.18% expense ratio.

Dividends

FFLC vs. FELC - Dividend Comparison

FFLC's dividend yield for the trailing twelve months is around 1.00%, more than FELC's 0.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FELC Fidelity Enhanced Large Cap Core ETF	0.85%	0.92%	1.03%	0.04%	0.00%	0.00%	0.00%
FFLC Fidelity Fundamental Large Cap Core ETF	1.00%	1.10%	0.82%	0.57%	1.67%	1.68%	0.89%

Frequently Asked Questions

Can I hold both FFLC and FELC in my portfolio?

With a correlation of 0.95, FFLC and FELC 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, FFLC or FELC?

FFLC has higher volatility (3.15%) compared to FELC (2.78%). In terms of maximum drawdown, FFLC dropped -19.72% vs FELC's -18.59%.

Which ETF is better, FFLC or FELC?

On 1-year performance, FELC leads with 28.58% vs 26.96% for FFLC. On fees, FELC is cheaper at 0.18% per year. On volatility, FELC has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFLC or FELC?

Over the 1-year period, FELC has performed better with a 28.58% return vs 26.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFLC or FELC?

FELC is cheaper with a 0.18% expense ratio, compared with 0.38% for FFLC.

Which ETF pays a higher dividend yield, FFLC or FELC?

FFLC has the higher dividend yield at 1.00%, compared with 0.85% for FELC.

What is the main difference between FFLC and FELC?

FFLC is categorized as Large Cap Blend Equities, while FELC is Large Cap Growth Equities. Their fees differ too: 0.38% for FFLC and 0.18% for FELC.

Which has better risk-adjusted returns?

FELC currently has the higher Sharpe Ratio (2.41 vs 2.12), 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.