FFLV vs. GSY

Last updated Jun 4, 2026

FFLV (Fidelity Fundamental Large Cap Value ETF) and GSY (Invesco Ultra Short Duration ETF) are both exchange-traded funds - FFLV is a Large Cap Value Equities fund actively managed by Fidelity, while GSY is a Ultrashort Bond fund actively managed by Invesco. Both are actively managed. Over the past year, FFLV returned 27.22% vs 4.54% for GSY. At a 0.11 correlation, their price movements are largely independent. FFLV charges 0.38%/yr vs 0.22%/yr for GSY.

Performance

FFLV vs. GSY - Performance Comparison

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

Returns By Period

In the year-to-date period, FFLV achieves a 11.22% return, which is significantly higher than GSY's 1.59% return.

FFLV

• 1D: -0.24%
• 1M: 2.24%
• YTD: 11.22%
• 6M: 12.86%
• 1Y: 27.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GSY

• 1D: 0.00%
• 1M: 0.36%
• YTD: 1.59%
• 6M: 1.96%
• 1Y: 4.54%
• 3Y*: 5.45%
• 5Y*: 3.65%
• 10Y*: 2.86%

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

FFLV vs. GSY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFLV Fidelity Fundamental Large Cap Value ETF	11.22%	16.04%	8.04%
GSY Invesco Ultra Short Duration ETF	1.59%	4.96%	5.11%

Correlation

The correlation between FFLV and GSY is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (All Time) Calculated using the full available price history since Feb 27, 2024	0.11

Return for Risk

FFLV vs. GSY — Risk / Return Rank

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

FFLV

FFLV Risk / Return Rank: 74
FFLV Sharpe Ratio Rank: 73
FFLV Sortino Ratio Rank: 76
FFLV Omega Ratio Rank: 70
FFLV Calmar Ratio Rank: 74
FFLV Martin Ratio Rank: 76

GSY

GSY Risk / Return Rank: 100
GSY Sharpe Ratio Rank: 99
GSY Sortino Ratio Rank: 100
GSY Omega Ratio Rank: 100
GSY Calmar Ratio Rank: 100
GSY Martin Ratio Rank: 100

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. GSY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Large Cap Value ETF (FFLV) and Invesco Ultra Short Duration ETF (GSY). 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.

	FFLV	GSY	Difference
Sharpe ratio: Return per unit of total volatility	2.41	11.52	-9.11
Sortino ratio: Return per unit of downside risk	3.48	29.56	-26.08
Omega ratio: Gain probability vs. loss probability	1.43	7.01	-5.59
Calmar ratio: Return relative to maximum drawdown	3.78	76.07	-72.29
Martin ratio: Return relative to average drawdown	14.71	397.70	-382.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFLV vs. GSY - Sharpe Ratio Comparison

The current FFLV Sharpe Ratio is 2.41, which is lower than the GSY Sharpe Ratio of 11.52. The chart below compares the historical Sharpe Ratios of FFLV and GSY, 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

	FFLV	GSY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	11.52	-9.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	6.29	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	2.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	0.46	+0.66

Drawdowns

FFLV vs. GSY - Drawdown Comparison

The maximum FFLV drawdown since its inception was -16.71%, which is greater than GSY's maximum drawdown of -12.14%. Use the drawdown chart below to compare losses from any high point for FFLV and GSY.

Drawdown Indicators

	FFLV	GSY	Difference
Max Drawdown Largest peak-to-trough decline	-16.71%	-12.14%	-4.57%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-0.06%	-7.18%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-1.48%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-5.25%	—
Current Drawdown Current decline from peak	-0.27%	0.00%	-0.27%
Average Drawdown Average peak-to-trough decline	-3.00%	-2.39%	-0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	0.01%	+1.85%

Volatility

FFLV vs. GSY - Volatility Comparison

Fidelity Fundamental Large Cap Value ETF (FFLV) has a higher volatility of 2.79% compared to Invesco Ultra Short Duration ETF (GSY) at 0.14%. This indicates that FFLV's price experiences larger fluctuations and is considered to be riskier than GSY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFLV	GSY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	0.14%	+2.65%
Volatility (6M) Calculated over the trailing 6-month period	8.40%	0.29%	+8.11%
Volatility (1Y) Calculated over the trailing 1-year period	11.38%	0.40%	+10.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.22%	0.58%	+13.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.22%	1.22%	+13.00%

FFLV vs. GSY - Expense Ratio Comparison

FFLV has a 0.38% expense ratio, which is higher than GSY's 0.22% expense ratio.

Dividends

FFLV vs. GSY - Dividend Comparison

FFLV's dividend yield for the trailing twelve months is around 1.46%, less than GSY's 4.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFLV Fidelity Fundamental Large Cap Value ETF	1.46%	1.60%	1.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GSY Invesco Ultra Short Duration ETF	4.34%	4.56%	5.31%	4.95%	1.70%	0.58%	1.45%	2.71%	2.30%	1.80%	1.21%	1.17%

Frequently Asked Questions

Can I hold both FFLV and GSY in my portfolio?

FFLV and GSY have a correlation of 0.16, 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 GSY?

FFLV has higher volatility (2.79%) compared to GSY (0.14%). In terms of maximum drawdown, FFLV dropped -16.71% vs GSY's -12.14%.

Which ETF is better, FFLV or GSY?

On 1-year performance, FFLV leads with 27.22% vs 4.54% for GSY. On fees, GSY is cheaper at 0.22% per year. On volatility, GSY has been the lower-risk option at 0.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFLV or GSY?

Over the 1-year period, FFLV has performed better with a 27.22% return vs 4.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFLV or GSY?

GSY is cheaper with a 0.22% expense ratio, compared with 0.38% for FFLV.

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

GSY has the higher dividend yield at 4.34%, compared with 1.46% for FFLV.

What is the main difference between FFLV and GSY?

FFLV is categorized as Large Cap Value Equities, while GSY is Ultrashort Bond. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.38% for FFLV and 0.22% for GSY.

Which has better risk-adjusted returns?

GSY currently has the higher Sharpe Ratio (11.52 vs 2.41), 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.