FFLC vs. MOAT

Last updated Jun 4, 2026

FFLC (Fidelity Fundamental Large Cap Core ETF) and MOAT (VanEck Morningstar Wide Moat ETF) are both Large Cap Blend Equities funds. FFLC is actively managed, while MOAT is passively managed. Over the past 5 years, FFLC returned 15.85%/yr vs 8.01%/yr for MOAT. A 0.79 correlation means they provide meaningful diversification when combined. FFLC charges 0.38%/yr vs 0.47%/yr for MOAT.

Performance

FFLC vs. MOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Large Cap Core ETF (FFLC) and VanEck Morningstar Wide Moat ETF (MOAT). 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 higher than MOAT's -0.94% return.

FFLC

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

MOAT

• 1D: -1.37%
• 1M: 3.30%
• YTD: -0.94%
• 6M: -0.69%
• 1Y: 14.97%
• 3Y*: 11.34%
• 5Y*: 8.01%
• 10Y*: 13.37%

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

FFLC vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FFLC Fidelity Fundamental Large Cap Core ETF	10.26%	17.67%	27.89%	25.07%	-0.04%	24.53%	18.76%
MOAT VanEck Morningstar Wide Moat ETF	-0.94%	13.20%	10.73%	31.89%	-13.66%	24.12%	16.22%

Correlation

The correlation between FFLC and MOAT is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jun 5, 2020	0.79

The correlation between FFLC and MOAT shifts across timeframes, from 0.63 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.

FFLC vs. MOAT - Sectors Allocation Comparison

Sectors	FFLC	MOAT
Technology	32.3%	32.8%
Communication Services	11.8%	2.4%
Financial Services	11.3%	6.7%
Consumer Cyclical	10.9%	10.3%
Industrials	10.8%	13.5%
Healthcare	8.1%	16.0%
Energy	4.8%	-
Consumer Defensive	4.1%	17.5%
Utilities	2.6%	-
Basic Materials	1.8%	-
Real Estate	1.1%	0.8%

Return for Risk

FFLC vs. MOAT — 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

MOAT

MOAT Risk / Return Rank: 27
MOAT Sharpe Ratio Rank: 29
MOAT Sortino Ratio Rank: 29
MOAT Omega Ratio Rank: 27
MOAT Calmar Ratio Rank: 25
MOAT Martin Ratio Rank: 27

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. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Large Cap Core ETF (FFLC) and VanEck Morningstar Wide Moat ETF (MOAT). 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	MOAT	Difference
Sharpe ratio: Return per unit of total volatility	2.12	1.09	+1.03
Sortino ratio: Return per unit of downside risk	2.90	1.64	+1.26
Omega ratio: Gain probability vs. loss probability	1.38	1.19	+0.19
Calmar ratio: Return relative to maximum drawdown	2.71	1.21	+1.50
Martin ratio: Return relative to average drawdown	12.30	3.77	+8.52
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. MOAT - Sharpe Ratio Comparison

The current FFLC Sharpe Ratio is 2.12, which is higher than the MOAT Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of FFLC and MOAT, 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	MOAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	1.09	+1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	0.44	+0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	0.77	+0.40

Drawdowns

FFLC vs. MOAT - Drawdown Comparison

The maximum FFLC drawdown since its inception was -19.72%, smaller than the maximum MOAT drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for FFLC and MOAT.

Drawdown Indicators

	FFLC	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-19.72%	-33.31%	+13.59%
Max Drawdown (1Y) Largest decline over 1 year	-9.98%	-12.43%	+2.45%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	-21.44%	+1.72%
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	-23.96%	+4.24%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.31%	—
Current Drawdown Current decline from peak	-0.68%	-4.72%	+4.04%
Average Drawdown Average peak-to-trough decline	-2.99%	-3.83%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	3.98%	-1.78%

Volatility

FFLC vs. MOAT - Volatility Comparison

The current volatility for Fidelity Fundamental Large Cap Core ETF (FFLC) is 3.15%, while VanEck Morningstar Wide Moat ETF (MOAT) has a volatility of 3.82%. This indicates that FFLC experiences smaller price fluctuations and is considered to be less risky than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFLC	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	3.82%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	9.73%	9.87%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	12.80%	13.86%	-1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	18.18%	-1.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.65%	18.68%	-1.03%

FFLC vs. MOAT - Expense Ratio Comparison

FFLC has a 0.38% expense ratio, which is lower than MOAT's 0.47% expense ratio.

Dividends

FFLC vs. MOAT - Dividend Comparison

FFLC's dividend yield for the trailing twelve months is around 1.00%, less than MOAT's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFLC Fidelity Fundamental Large Cap Core ETF	1.00%	1.10%	0.82%	0.57%	1.67%	1.68%	0.89%	0.00%	0.00%	0.00%	0.00%	0.00%
MOAT VanEck Morningstar Wide Moat ETF	1.37%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%

Frequently Asked Questions

Can I hold both FFLC and MOAT in my portfolio?

FFLC and MOAT have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFLC or MOAT?

MOAT has higher volatility (3.82%) compared to FFLC (3.15%). In terms of maximum drawdown, FFLC dropped -19.72% vs MOAT's -33.31%.

Which ETF is better, FFLC or MOAT?

On 5-year performance, FFLC leads with 15.85% vs 8.01% for MOAT. On fees, FFLC is cheaper at 0.38% per year. On volatility, FFLC has been the lower-risk option at 3.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFLC or MOAT?

Over the 5-year period, FFLC has performed better with a 15.85% return vs 8.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFLC or MOAT?

FFLC is cheaper with a 0.38% expense ratio, compared with 0.47% for MOAT.

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

MOAT has the higher dividend yield at 1.37%, compared with 1.00% for FFLC.

What is the main difference between FFLC and MOAT?

They also come from different issuers: Fidelity and VanEck. Their fees differ too: 0.38% for FFLC and 0.47% for MOAT.

Which has better risk-adjusted returns?

FFLC currently has the higher Sharpe Ratio (2.12 vs 1.09), 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.