FFLV vs. FFLC

Last updated Jun 24, 2026

FFLV (Fidelity Fundamental Large Cap Value ETF) and FFLC (Fidelity Fundamental Large Cap Core ETF) are both exchange-traded funds - FFLV is a Large Cap Value Equities fund actively managed by Fidelity, while FFLC is a Large Cap Blend Equities fund actively managed by Fidelity. Both are actively managed. Over the past year, FFLV returned 28.00% vs 24.45% for FFLC. A 0.68 correlation means they provide meaningful diversification when combined. Both charge a 0.38% expense ratio.

Performance

FFLV vs. FFLC - Performance Comparison

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

Returns By Period

In the year-to-date period, FFLV achieves a 13.08% return, which is significantly higher than FFLC's 9.17% return.

FFLV

• 1D: -0.51%
• 1M: 2.08%
• YTD: 13.08%
• 6M: 12.30%
• 1Y: 28.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FFLC

• 1D: -1.70%
• 1M: -0.03%
• YTD: 9.17%
• 6M: 8.34%
• 1Y: 24.45%
• 3Y*: 22.21%
• 5Y*: 16.06%
• 10Y*: —

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

FFLV vs. FFLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFLV Fidelity Fundamental Large Cap Value ETF	13.08%	16.04%	-0.71%
FFLC Fidelity Fundamental Large Cap Core ETF	9.17%	17.67%	17.16%

Correlation

The correlation between FFLV and FFLC is 0.70, 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	0.70
Correlation (All Time) Calculated using the full available price history since Feb 26, 2024	0.68

The correlation between FFLV and FFLC has been stable across timeframes, ranging from 0.68 to 0.70 - a consistent structural relationship.

Return for Risk

FFLV vs. FFLC — Risk / Return Rank

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

FFLV

FFLV Risk / Return Rank: 80
FFLV Sharpe Ratio Rank: 81
FFLV Sortino Ratio Rank: 84
FFLV Omega Ratio Rank: 77
FFLV Calmar Ratio Rank: 79
FFLV Martin Ratio Rank: 81

FFLC

FFLC Risk / Return Rank: 56
FFLC Sharpe Ratio Rank: 56
FFLC Sortino Ratio Rank: 54
FFLC Omega Ratio Rank: 54
FFLC Calmar Ratio Rank: 52
FFLC Martin Ratio Rank: 63

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.

FFLV vs. FFLC - Risk-Adjusted Trends Comparison

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

	FFLV	FFLC	Difference
Sharpe ratio: Return per unit of total volatility	2.43	1.81	+0.62
Sortino ratio: Return per unit of downside risk	3.50	2.49	+1.01
Omega ratio: Gain probability vs. loss probability	1.43	1.33	+0.10
Calmar ratio: Return relative to maximum drawdown	3.88	2.46	+1.42
Martin ratio: Return relative to average drawdown	15.07	10.96	+4.12

FFLV vs. FFLC - Sharpe Ratio Comparison

The current FFLV Sharpe Ratio is 2.43, which is higher than the FFLC Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of FFLV and FFLC, 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

FFLV vs. FFLC - Drawdown Comparison

The maximum FFLV drawdown since its inception was -16.71%, smaller than the maximum FFLC drawdown of -19.72%. Use the drawdown chart below to compare losses from any high point for FFLV and FFLC.

Drawdown Indicators

	FFLV	FFLC	Difference
Max Drawdown Largest peak-to-trough decline	-16.71%	-19.72%	+3.01%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-9.98%	+2.74%
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	-1.00%	-2.37%	+1.37%
Average Drawdown Average peak-to-trough decline	-3.52%	-2.98%	-0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	2.24%	-0.38%

Volatility

FFLV vs. FFLC - Volatility Comparison

The current volatility for Fidelity Fundamental Large Cap Value ETF (FFLV) is 3.21%, while Fidelity Fundamental Large Cap Core ETF (FFLC) has a volatility of 5.32%. This indicates that FFLV experiences smaller price fluctuations and is considered to be less risky than FFLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFLV	FFLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	5.32%	-2.11%
Volatility (6M) Calculated over the trailing 6-month period	8.57%	10.71%	-2.14%
Volatility (1Y) Calculated over the trailing 1-year period	11.57%	13.56%	-1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.15%	17.00%	-1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.15%	17.69%	-2.54%

FFLV vs. FFLC - Expense Ratio Comparison

Both FFLV and FFLC have an expense ratio of 0.38%.

Dividends

FFLV vs. FFLC - Dividend Comparison

FFLV's dividend yield for the trailing twelve months is around 1.42%, more than FFLC's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FFLC Fidelity Fundamental Large Cap Core ETF	1.01%	1.10%	0.82%	0.57%	1.67%	1.68%	0.89%
FFLV Fidelity Fundamental Large Cap Value ETF	1.42%	1.60%	1.46%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FFLV and FFLC in my portfolio?

FFLV and FFLC have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFLV or FFLC?

FFLC has higher volatility (5.32%) compared to FFLV (3.21%). In terms of maximum drawdown, FFLV dropped -16.71% vs FFLC's -19.72%.

Which ETF is better, FFLV or FFLC?

On 1-year performance, FFLV leads with 28.00% vs 24.45% for FFLC. Both ETFs have the same 0.38% expense ratio. On volatility, FFLV has been the lower-risk option at 3.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFLV or FFLC?

Over the 1-year period, FFLV has performed better with a 28.00% return vs 24.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFLV or FFLC?

FFLV and FFLC have the same expense ratio: 0.38% per year.

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

FFLV has the higher dividend yield at 1.42%, compared with 1.01% for FFLC.

What is the main difference between FFLV and FFLC?

FFLV is categorized as Large Cap Value Equities, while FFLC is Large Cap Blend Equities.

Which has better risk-adjusted returns?

FFLV currently has the higher Sharpe Ratio (2.43 vs 1.81), 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.