FFLC vs. FELC

Last updated Aug 4, 2026

FFLC (Fidelity Fundamental Large Cap Core ETF) and FELC (Fidelity Enhanced Large Cap Core ETF) are both Large Cap Blend Equities funds from Fidelity. Both are actively managed. Over the past year, FFLC returned 22.64% vs 26.44% for FELC. Their correlation of 0.95 means they have usually moved in the same direction. 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 12.63% return, which is significantly lower than FELC's 13.57% return.

FFLC

• 1D: 1.80%
• 1M: 2.12%
• 6M: 9.47%
• YTD: 12.63%
• 1Y: 22.64%
• 3Y*: 22.09%
• 5Y*: 16.98%
• 10Y*: —
• ALL TIME*: 20.49%

FELC

• 1D: 1.34%
• 1M: 3.11%
• 6M: 11.53%
• YTD: 13.57%
• 1Y: 26.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.44%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FELC Fidelity Enhanced Large Cap Core ETF	$30.45M	$28.57M	$35.52M
FFLC Fidelity Fundamental Large Cap Core ETF	$6.28M	$5.36M	$5.21M

FFLC vs. FELC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FFLC Fidelity Fundamental Large Cap Core ETF	12.63%	17.67%	27.89%	5.69%
FELC Fidelity Enhanced Large Cap Core ETF	13.57%	17.09%	25.25%	6.06%

Correlation

The correlation between FFLC and FELC is 0.95 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (All Time) Calculated using the full available price history since Nov 20, 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	28.9%	40.7%
Financial Services	12.4%	12.6%
Industrials	10.8%	10.1%
Communication Services	10.3%	10.8%
Consumer Cyclical	10.0%	9.1%
Healthcare	8.6%	8.5%
Energy	4.6%	2.7%
Consumer Defensive	4.0%	2.4%
Utilities	2.6%	1.5%
Basic Materials	2.1%	0.6%
Real Estate	1.1%	1.0%

Return for Risk

FFLC vs. FELC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FFLC

FFLC Risk / Return Rank: 69
FFLC Sharpe Ratio Rank: 70
FFLC Sortino Ratio Rank: 69
FFLC Omega Ratio Rank: 68
FFLC Calmar Ratio Rank: 63
FFLC Martin Ratio Rank: 77

FELC

FELC Risk / Return Rank: 84
FELC Sharpe Ratio Rank: 86
FELC Sortino Ratio Rank: 84
FELC Omega Ratio Rank: 84
FELC Calmar Ratio Rank: 80
FELC Martin Ratio Rank: 87

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	FFLC	FELC	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.06	-0.41
Sortino ratio: Return per unit of downside risk	2.30	2.81	-0.51
Omega ratio: Gain probability vs. loss probability	1.29	1.37	-0.08
Calmar ratio: Return relative to maximum drawdown	2.28	2.92	-0.64
Martin ratio: Return relative to average drawdown	9.91	12.69	-2.79

FFLC vs. FELC - Sharpe Ratio Comparison

The current FFLC Sharpe Ratio is 1.65, which is comparable to the FELC Sharpe Ratio of 2.06. 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.

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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.95%	-1.89%	-1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	2.09%	+0.20%

Volatility

FFLC vs. FELC - Volatility Comparison

Fidelity Fundamental Large Cap Core ETF (FFLC) and Fidelity Enhanced Large Cap Core ETF (FELC) have volatilities of 4.00% and 3.81%, 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

	FFLC	FELC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	3.81%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	11.07%	10.22%	+0.85%
Volatility (1Y) Calculated over the trailing 1-year period	13.84%	12.92%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.94%	15.17%	+1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.61%	15.17%	+2.44%

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 0.97%, more than FELC's 0.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FELC Fidelity Enhanced Large Cap Core ETF	0.83%	0.92%	1.03%	0.04%	0.00%	0.00%	0.00%
FFLC Fidelity Fundamental Large Cap Core ETF	0.97%	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 (4.00%) compared to FELC (3.81%). 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 26.44% vs 22.64% for FFLC. On fees, FELC is cheaper at 0.18% per year. On volatility, FELC has been the lower-risk option at 3.81%. 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 26.44% return vs 22.64%. 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 0.97%, compared with 0.83% for FELC.

What is the main difference between FFLC and FELC?

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 (2.06 vs 1.65), 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.